European Stars and Stripes (Newspaper) - November 28, 1991, Darmstadt, Hesse                                Page 18 the stars and stripes thursday november 28, 1991money matters Coors brewing co. Has signed a joint venture agreement with Jinro Ltd. To build and operate a brewery in South Korea. The joint venture concern Jinro Coors brewing co., will brew distribute and Market Coors Beer and other new brands for koreans Market. Coors the third largest . Brewer after Anheuser Busch and Miller brewing said the korean expansion is part of its goal to make its products available in at least 20 overseas markets by 1995. The company established a Canadian marketing Alliance in 1985 with Molson breweries Ltd. And a Japan Alliance in 1987 with Asahi breweries Ltd. Conversion rates London up wednesdays 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 $367.50 an ounce Silver at $4.10. Nov. 26 nov. 27 British Pound .1.7960 1.7680 German mark.1.5815 1.6155 French ranc.5.4555 5.5030 dutch guilder.1.7800 1.8105 belgian franc.32.6815 33.19 italian lira.1,204.40 1,214.85 Swiss franc.1.4065 1.4225 greek drachma.181.10 182.50 turkish lira.4,952.00 4,988.80 saudi arabian riyal.3.7494 3.7496 Spanish peseta.101.40 102.25 portuguese escudo.141.57 142.49 Canadian dollar.1.1370 1.1360 austrian schilling.11.188 11.2725 norwegian krone.6.258 6.3040 danish krone.6.170 6.2285 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 1.57 through thursday based on wednesdays noontime Price fixing. New York Exchange new York up a the 15 most Active stocks in new York Stock Exchange composite trading on tuesday. Stock sole Lait net chg. Bristol Myersq 4,418,500 75% on 2% Ford motor co a 2,841,100 24% on Rwjr Nabisco hid 2,790,800 9% unch at amp to company 2,546,300 36% on�?T/4 Glaxo holdings 2,440,600 27vb up % ban America 2,218,800 32 Ofrim genl electric 2,180,400 65% unch Tel Fonos de my 2,111,100 43 up 1 ism corp 1,947,600 97 % up 2% adv Micro docs 1,854,500 14% up v4 general motors 1,838,300 31% up 1 Philip Morris 1,764,800 69% up 1 % Amer express 1,653,900 19% up syntax corp 1,604,700 38% off Pioron corp 1,598,400 58% up % american Exchange new York up american Stock exert a the 10 most Active stocks in Ange composite trading tuesday. Stock Salei last net chg. Hill Haven corp 422,300 2% 0 1 % fruit of loom 385,900 23 up % Oft % Bergen Brunswig 318,800 20% carnival cruise 311,500 23 up Hasbro inc 310,200 36 up 1% Echo Bay mines 272,100 7% on /4 Americus by so 266,400 23% of Americus desc 261,200 3% on Bat industries 254,000 11% unch foundation hath 210,800 27% of Dow Jones new York up a Dow Jones dosing Range of averages tuesday 30 industrials 20 transport 15 Ulli ties 65 stocks High 2942.31 1196.75 217.33 1063.68 Low 2861.14 1175.26 21294 1036.37 close 2916.14 1186.47 216.57 1055.18 change up 14.08 up 0.75 up 3.25 up 5.49 . Consumer Confidence plunges to 11 year Low from wire reports the Confidence of american Consumers a vital economic barometer has plunged to Levels typically found in the depth of recessions and signals rising despair Over the Job Outlook according to a monthly consumer report. The conference boards consumer research Center said that the consumer Confidence Index tumbled in november to its lowest level in More than 11 years. A the Sharp decline in consumer Confidence Over the past two months cuts across All segments of the population a All age groups All income brackets and All regions of the country a said Fabian Linden executive director of the research Center which releases the report. A this is the classical profile of a  the report appeared to increase pressure on the administration and Congress to act to stimulate a recovery through tax cuts and Domestic spending programs. A this unquestionably turns up the fire another notch on Congress and the presi Dent a said Robert d. Reischauer the chief economist at the congressional budget office. A there is widespread despair out in the country. We be tried monetary policy and the question now is will the political system do something a but an administration official who insisted on anonymity sought to play Down the reports significance. A the Economy is not healthy a he said a but its growing Inch by Inch and Well eventually get a stronger  he suggested that existing policies a including the recent Extension of unemployment benefits a should be enough to Spur stronger growth. The Index by the conference Board a new York based business research organization gauged at 50.6 for november fell nine Points during the month a part of a 22-Point slide since september. Readings under 70 Are associated with recessions. The level of 50.6 is below the lowest level reached during the 1982 recession when consumer Confidence Church Helper Lisa Balmain serves Steve Doughty at a Portland Maine soup Kitchen. Charity resources strained As donors become needy the by Polly Anderson associated press economic slump has charities struggling to Cope with an increased number of people seeking Aid this thanksgiving including a a new class of poor who were the donors of past years. A a done to Tell me that the recession is Over a said Ruth Shecter executive director of the housing information Center in Kansas City to. A president Bush needs to walk with the people and find out what it really  in Bridgeport conn., hit hard by economic troubles a coalition of churches a known As area congregations together or act a is turning away about 100 families who sought thanksgiving food out of about 250 who applied. A a it a unbelievable its tragic its the most heart wrenching decision in be Ever had to make a executive director Kathleen Samela said. Donations to fund the Holiday meal program Are Down so sharply that a we done to know if we can feed the families we be accepted never mind the ones we be had to turn away a Samela said. A in our annual mailing asking for donations we be received a lot of letters from people who have been big donors in the past saying a i just lost my Job. Here a $2,�?T a she said. A these Are people who might have Given $10, $25 or More last  Kay Wallick executive director of the mid America assistance coalition in Kansas City mo., described the ranks of new applicants for Aid As a a new class of poor new clientele who have never used assistance before. These Are people who used to give to the United  charities in Michigan Are struggling under a particular Burden this season because of the sluggish Auto Economy and the oct. 1 cutoff of 83,000 welfare recipients who did not have custody of children and were deemed to be Able bodied. A the numbers Are astronomical a said Lewis Hickson general manager of the Capuchin soup Kitchen in Detroit which feeds 1,000 people a Day in its cafeteria and provides food packages for up to 4,000 additional meals a Day. Plunged to 54.3. The conference Board has not registered this weak a Reading since May 1980, a time when the Carter administrations credit controls had sent the . Economy into free fall. Although most analysts agree that the Economy appears fragile Many nonetheless have been surprised by the Sharp deterioration in consumer attitudes which has been fuelled by news of layoffs. In just the last few weeks dozens of Well known employers have announced planned Job cuts including Hughes aircraft . Gear Mcdonnell Douglas Salomon Brothers and nocal. From government offices to ism employers once viewed As Layoff resistant have shown an increasing willingness to eliminate jobs in the weak Economy. A a it shitting a lot of industries and occupations that never had this before a said Lawrence Chimerine a senior adviser to Dri Mcgraw Hill in Washington. A a. People Are absolutely  ism to Cut 20.000 jobs next year new York apr International business machines corp. Will eliminate an additional 20,000 jobs next year and take other actions to Battle sagging profits. The moves will result in a $3 billion accounting charge against earnings. Chairman John f. Akers also announced a sweeping plan to free the company a business units from its bureaucracy a a fundamental element of our plans is to create an environment where these individual businesses will Over time become As Independent and autonomous As possible a Akers said. Ism has been criticized for years for a stifling bureaucracy that slows decision making and saps creativity. The problem is particularly troublesome in the fast moving computer Industry where products can become outdated within months. Akers said ism will set financial goals for each of its business units but will let them determine How the goals Are reached. Each unit will publicly report its profits and revenues something rarely done at major companies and then ism will decide How aggressively to invest in them Akers said. Akers said he would disclose additional details of the restructuring dec. 5. The announcement followed a year in which ism has broken traditions. It spun off its Lexington ky., typewriter Plant into a separate company and retained a minority stake. It formed a startling Alliance with rival Apple computer inc. To develop advanced personal computers and software. But in my a earnings continue to suffer and Akers offered Tittle encouragement that results would improve soon. For the first nine months of the year ism earned $818 million on its operations Down sharply from a profit of $3.56 billion during the same period of 1990. The announcement of 20,000 layoffs follows an equal number eliminated this year and will leave ism with about 333.000 employees Down from a High of 407.000 in 1986