European Stars and Stripes (Newspaper) - October 22, 1991, Darmstadt, Hesse Tuesday october 22, 1991 the stars and stripes b Page 17money matters . Hotel files for bankruptcy by the los Angeles times los Angeles a in another sign of the troubled commercial real estate Market the owners of the Westin Bonaventure the largest hotel in downtown los Angeles have filed for Protection in . Bankruptcy court in los Angeles the hotels Lender said. The action will apparently forestall a possible foreclosure on the property by the Lender equitable life Assurance society of new York. After declaring the hotel owners in default equitable disclosed last month that it was taking Steps to foreclose on the property by oct. 24. The owners of the 1,400-room Bonaventure a partnership led by Mitsubishi trading co. And Atlanta Developer John c. Portman jr., have been in default on their $75 million mortgage with equitable since november 1990. A we Are confident that our investment will be protected through the bankruptcy process a Equita ble s real estate Arm equitable real estate investment management inc., announced in a prepared statement. The Bonaventure will remain open and will continue to be operated by the Portman Mitsubishi partnership possibly until a bankruptcy judge appoints a trustee. Bankruptcies and financial reorganizations Are being sought by scores of Southern California hotel owners that Are reeling from the recession a 39 percent increase in hotel rooms in an already glutted Market and a decline in rates London up monday s rates for the . Dollar to other currencies. Figures Are expressed in dollars to the British Pound other local currencies in dollars Gold was quoted at $364 an ounce Silver at $4.18. Oct. 18 oct. 21 British pound.1.7225 1.7200 German mark.1.6885 1.6910 French franc.5.7715 5.7545 dutch guilder.1.9020 1.8995 belgian iranc.34.790 34.790 italian lira.1,267.45 1,260.75 Swiss franc.1.4805 1.4800 greek drachma.188.50 187.91 turkish lira.4,870.20 4,873.60 saudi arabian riyal.3.7503 3.7503 Spanish peseta.106.75 106.38 portuguese escudo.145.93 145.10 Canadian dollar.1.1285 1.1272 austrian schilling.11.9325 11.9780 norwegian krone.6 6370 6.6090 danish krone.6.5320 6.5140 these Are commercial rates and can be related Only to the use of foreign currency by . Forces for official business. The Only official rate concerns the Sale of German Marks to . Personnel for personal use and this will be 1.64 through tuesday based on mondays noontime recalls 1989 Mevs Irvine Calif. A Mazda has recalled 33,540 of its 1989 Mph Multi use vehicles because of a lockup problem with the. Rear brakes. Mazda asked Mph owners to voluntarily bring the vehicles in for inspection and possible replacement of the rear Brake shoes. The recall includes All the 1989 Mevs sold in the United states. . Trade with Cuba soars through overseas subsidiaries Washington a despite a Long standing . Trade embargo american companies have sharply increased Trade with Cuba through foreign subsidiaries helping Fidel Castro survive catastrophic losses of food imports from former communist bloc allies a government study said. The transactions Are Legal but appear to run counter to administration efforts to isolate Cuba. They also Are the subject of a bitter controversy Between members of Congress who want to make such sales illegal and . Grain companies that profit from them. Sales by . Overseas subsidiaries activist who the number Chicago a to find Robert Bulmash a phone number you have to know two things his Middle name and his philosophy. Combine them and you be got his listing in the phone Book no solicitation Stuart. Bulmash is the terror of the telemarketers president of a feisty group of a junk Calls haters who to borrow a movie line from network s messianic newscaster Howard Beale Are mad As hell and not going to take it anymore. Their group is private citizen. Their Battle cry is a my time is your and they mean it. Twice yearly Bulmash sends out his subscribers list to hundreds of telemarketing firms warning them in writing that if any of these people Are called the companies will be billed at $100 a pop. A we Are not going to let this intrusive Industry Barge into our Homes and treat us As nothing More than a Wallet a Bulmash said his Tenor rising. A this is our Home not their store. A this is a business out of control a he boomed. A a it a pulling us out of the bathroom out of the bedroom from caring for our children our elderly from living a life of peaceful enjoyment. It is imperative it gets regulated if Bulmash a strategy of having the seller pay the customer sounds supremely silly be assured he is sober serious a and successful. The 45-year-old paralegal claims subscribers who pay $20 annually see their telemarketing Calls drop by 70 percent. And the threat to make companies put their Money where their Mouth is has paid off Bulmash said he has collected about 10 times a ranging from 97 cents to $100 plus court costs. A few subscribers have too. Naturally Bulmash a adversaries done to speak of him in the warmest terms. A a he a making Money off an Industry that he despises. It seems ironic a said Maggie Yost spokeswoman for the american telemarketing association. Yet they also say they done to necessarily disagree with his message. A the Industry does no to want to be calling people who done to want to be called a said Ken Griffin the groups past president. But he added Bulmash so criticisms Are rather shrill at times. We re responsible business people not the Devil Here. Whenever you have a new Young Industry there Are a lot of people who try to abuse it. We re trying to remedy so Are lawmakers on Capitol Hill where three Bills Are pending that would have been a a tremendous Crutch to keep Castro s tyranny alive a said sen. Connie Mack. A Fla. In 1988, the year before the anti communist upheaval in the East bloc . Companies sold $56 million Worth of a Grain wheat and other consumables Quot to Cuba according to the Treasury department study. The figure Rose to $114 million in 1989 and then jumped to $500 million last year a sum equivalent to almost $50 for every cuban. The figure for non consumable exports to Cuba was $33 million. Officials involved in the Treasury study acknowledged that the figures done to necessarily represent actual transactions. Instead they reflect amounts those companies were licensed to sell to Cuba based on applications approved by the Treasury said the officials who requested anonymity. The officials believe most of the License approvals led to an actual Sale. However sources in the Grain Industry said sales often Are not consummated even though the companies have Treasury permission to make them. Successive . Administrations dating Back to the Kennedy years have sought to weaken Castro a government by issuing a Trade embargo against the Island. The goal is isolation. Hates junk Calls has of telemarketing firms Robert Bulmash president of private citizen displays a lengthy list of his subscribers. Regulate computer and live telemarketing Calls. Sixteen states have outlawed computer dialled Calls. Bulmash leads his 4-year-old anti telemarketing crusade from his suburban Warrenville Home where he guards his own privacy with his a no solicitation Quot Moniker. He refuses to pay for an unlisted number. As president of private citizen he mails lists of his 800-plus subscribers to More than 900 companies along with a notification and offer that states in part a i consider junk Calls. To be an annoying invasion of privacy and an interference with my ability to peacefully enjoy my property. You Are now instructed to carefully respect my rights in this regard. 1 will accept junk Calls placed by or on your behalf for a $100 fee due within 30 Days of such use. Each such Call will be a separate acceptance of this Bulmash said the Point is not to make Money but to Stop the Calls. However a few subscribers have collected including Andrew Greatrex a former new Jersey banker who said he challenged chem Awn twice. Once he said he received a $100 Check. Just before the Money arrived he was called again. He said he worked out a Deal with chem Awn which already serviced his Yard. The company trimmed $100 off his Bill. So did Frank Howard a Minneapolis photographer who won two cases in court against a telemarketing firm that later filed for bankruptcy. A my Home is my Castle a he said. A if they Call they re invading my Castle. You be got to hit them in the pocketbook before they realize it does no to make any sense not to
