European Stars and Stripes (Newspaper) - November 6, 1991, Darmstadt, Hesse                                Wednesday november 6, 1991 the stars and stripes b Page 17 a a Money matters today a tip Lockheed corp. Said monday that it would repurchase As Many As 4 million of its shares or 6.3 percent of its outstanding common Stock. At current prices the buyback would Cost Lockheed $ 180 million. With its business prospects improving despite the decline in Pentagon spending Lockheed a Stock Price has surged Over the last year from a 52-week Low of $26,125 a share. It closed monday at $46,125 on the new York Stock Exchange up 62.5 cents. The buyback announcement seemed intended in part to meet Lockheed a pledge that it would do More for shareholders in the Wake of the company proxy fight last year with Harold c. Simmons the Dallas corporate Raider. Lockheed fought off Simmons but Only after assuring institutional shareholders that it would consult closely with them and work harder to improve the returns on their investments in the company. Conversion rates London up tuesday 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 $356.45 an ounce Silver at $4.08. Nov. 4 nov. 5 British pound.1.7825 1.7695 German mark.1.6375 1.6425 French franc5.6045 5.6130 dutch guilder.1.8565 1.8510 belgian franc33.73 33.80 italian lira1,229.00 1,230.50 Swiss franc.1.4410 1.4490 greek drachma184.47 184.74 turkish lira4,886.10 4,890.60 saudi arabian riyal3.7502 3.7503 Spanish peseta103.55 103.30 portuguese escudo141.40 141.44 Canadian dollar1.1195 1.1211 austrian schilling.11.5640 11.5600 norwegian krone.6.4435 6.4340 danish krone.6.3720 6.3645 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 1.60 through wednesday based on tuesdays noontime Price fixing. New York Exchange new York up York Stock Exchange Hie 15 most Active stocks in new composite trading on monday. Stock safes Lett Natch. Maxis Energy Rwjr Nab pea 4,557,600 6% up % 4.057.100 10% unch Rwjr Nabisco hid 3,443,600 10% off Chase Manhattan 2,243,600 18% 011% Compaq computer 2,076,200 26% out Pepsico inc 1.825.700 29% up adv Micro docs 1,559.100 12% unch Community psych Telefor Nordt my 1,535,600 12% Alft 1.534,000 43 0111% Citicorp 1,436,900 11% of travellers Carp 1,420,500 18% of 1% beam Pic 1.290,600 7% off Salomon inc 1,254,600 29% up 1 7% it corp 1,204,200 33% up West Ghouse Al 1,192,700 16% on american Exchange new y0bk up tha 10 most Active stocks in american Stock Exchange compos us trading monday. Stock salts tool i chg. Tubes Deacero 765.000 10% off fruit of loom 455.200 23% up prof can inc 368.800 15% up1% Echo Bay mines 342,500 7% off go video inc 336,600 1 up Energy service 276,300 1% unch Nichols inst c 240,300 11% off a Bergen Brunswig 215,900 20% off i Hasbro inc 174,500 34% off response tech 159,500 7 off Dow Jones new York up Dow Jones doring tangs it avenges monday 30 industrials 20 transport 15 utilities 65 stocks my 306127 1288.66 216.07 1110.08 Low 3019.01 1269 62 213.78 1094.89 Cleee 304562 1281.02 215-07 1104.17 off 2-59 change Oil 10.73 up 019 0110 57 Bill to overhaul banking system fails by wide margin in House by the los Angeles times Washington the House on monday resoundingly Defeated far reaching banking overhaul legislation dealing an apparent death blow to president Bush a efforts to rewrite the nations de pression Era banking Laws this year. After three Days of debate the Bill failed on a 324-89 vote. The margin of defeat was More lopsided than had been expected and included Strong majorities of both democratic and Republican lawmakers. Although the Bush administration had opposed the Complex House Bill its defeat ensures that the House banking committee will have to Start from scratch to develop a comprehensive banking measure. Any legislation it eventually produces is expected to be far narrower in scope than the House measure and could fall Well Short of the kind of Reform that the president originally envisioned. Among the provisions considered Likely to die Are proposals to give Banks new Powers to do business across state lines and to sell securities and insurance. Action of some sort is needed soon because the Federal Deposit insurance  Bank insurance fund is almost insolvent and will require a $30 billion line of credit from the Treasury to continue operating. The insurance fund which safeguards deposits up to $100,000 per account is financed primarily through premiums paid by federally insured Anks. However losses from Bank failures have almost depleted it. Any measure that ultimately passes the House is Likely to include Little More than the additional borrowing authority some relatively minor changes in Deposit insurance and new rules requiring the government to act More promptly when Banks fall below Safe capital Levels. Mondays vote makes it unlikely that a sweeping Bill will reach Bush a desk this year. Even if the Senate votes to include some of the presidents More ambitious proposals when it takes up the Bill later this week they Are unlikely to survive when a House Senate committee meets to reconcile the legislation a two versions. The goal of the Reform Effort is to Shore up the ailing banking system. Al ready there arc ominous signs for Banks Between 1981 and 1990, the number of Bank failures soared to 1,200, or about six times As Many institutions As had gone under during the previous four decades put together. Bush initially sought legislation that would expand Banks Powers in Many areas including lifting old restrictions against crossing state lines and entering the insurance and securities businesses. By diversifying the president and his supporters argued Banks would be Able to reduce their risks. Banks in new England for example would not find their fortunes tied to Only that Region s depressed real estate and High technology industries. Moreover they said unless . Banks Are freed from their current strictures they will be unable to compote with giant foreign institutions. Opponents argued however that loosening the reins on savings and Loans in the Early 1980s proved to be the Industry a undoing because Many a amp is used their new Freedom to plunge headlong into highly risky and Foolhardy ventures. Strike at two key Caterpillar plants leaves equipment parts a assembled Peoria Iii. A Caterpillar inc. Kept making parts monday but the leading maker of Earth moving equipment had no workers to assemble them at two key plants because of a selective strike by the United Auto workers. A these Are two very important facilities to Caterpillar a company spokesman Bill Lane said As pickets Wanned themselves at fire barrels blocking Gates to plants in East Peoria and Decatur. A we Are studying our alternatives a Lane said. A with these two facilities we compete toe to toe with the japanese a Lane said. A this strike is hurting Caterpillar its employees and its  about 2,400 workers struck just after Midnight Sut iday after bargaining talks failed to reach a settlement. No new talks were scheduled but each Side said it would remain on Call. A Large inventory and slow demand for its products left Caterpillar prepared for a company wide strike analysts said. Now it must decide whether to lock out the rest of the a awl a 17,000 workers in Illinois Pennsylvania Colorado and Tennessee or keep paying them to build parts that in Many cases cannot be assembled. The East Peoria Plant assembles track Type bulldozers used in construction pro acts and in mining. The Decatur Plant builds off Highway trucks and tractors used in mining and construction As Well striking workers obstruct a track As it enters the Decatur Iii., Caterpillar Plant. Jlas graders and scrapers used to make the Law wants a contract like Ime roads and dams. Deere amp co. Of Moline recently made the average Caterpillar employee with its workers giving them a 3 percent earns $16.89 per hour. Fringe benefits wage increase the first year and 3 percent bring labor costs to $31.74 per hour. Lump sum payments the next two years. Mazda pulls Quot saturday night live Quot ads Irvine Calif. Apr Mazda motor of America inc. Said it was withdrawing its advertising from Abc tvs saturday night live but denied that a Boycott by a fundamentalist Christian group influenced its decision. A a we re suspending it because saturday night live is in habitual violation of our own programming guidelines regarding violence and sexuality a Mazda spokesman Jack Pitney said. Pitney said Mazda regularly previews saturday night live scripts but noted the live telecasts Content frequently deviates from them. A we respect the decision they have to make with regard to one show or the other Quot said Abc spokeswoman sue bin Ford who added that the network does not comment on advertisers decisions. The automakers decision comes a month after the Rev. Donald Wildmone a american family association based in Tupelo miss., began a Boycott of Mazda products and started a letter writing Campaign. Pitney said pressure from Wildmone a group was not a Factor in suspending its advertising on the show. Wildmon whose group boasts 425,000 members and supports Quot pro family traditional values a said they sent Mazda scripts from shows that it found offensive. Details of those scripts were not disclosed. The automaker has previously pulled its advertising from different episodes of the show. It pulled ads from a May 1990 episode featuring Andrew Dice Clay alter reviewing the script Pitney said