European Stars and Stripes (Newspaper) - December 11, 1991, Darmstadt, Hesse                                Wednesday december 11, 1991 the stars and stripes b Page 17 today s tip us invest inc. Announced plans monday to reduce its work Force by 6,000 in the next several years in a restructuring designed to improve its position in the marketplace. The telecommunications giant said its fourth Quarter earnings will include an after tax charge of about $590 million to reflect the work Force reductions and liquidations of real estate. The charge is expected to reduce 1991 earnings by about $1.47 per share. A we re taking this charge against earnings to recognize changing Market conditions a said Dick Mccormick us West president and chief executive officer. A we believe it will enhance the Long term value of our share owners investment and better position us to focus on our Long term business strategies in an increasingly competitive marketplace a he said in Denver. Us West has about 70,000 employees in 14 states. 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 $368.50 an ounce Silver at $4.03, dec. 9 dec. 10 British pound.1.8110 1.8065 German mark.1.5685 1.5715 French franc.5.3800 5.3850 Outch guilder.1.7762 1.7770 belgian iranc.32.35 32.54 Dalian hra.1,192.50 1,192.00 Swiss iranc.1.3865 1.3940 greek drachma.180.24 179.75 turkish ika.5,011.90 5,006.20 saudi arabian riyal.3.7494 3.7495 Spanish peseta.100.69 100.46 portuguese escudo.139.95 139.46 Canadian dollar.1.1360 1.1354 austrian schilling.11.0800 11.0370 norwegian krone.6.2060 6.1820 danish krone.6.1235 6.0975 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 1.53 through wednesday based on tuesday s noontime once Fung. New York Exchange new York York Stock Exchange Stock in corp Rwjr Nabisco hid go sri motors Glaxo holdings genl electric Pfuhl Pomonis Citicorp Rwjr Nabisco pop Wal Mart Storai limited inc Amer express co Pepsico inc toys r us inc Bristol my Iraq Archer Daniels Tho 15 most so bus stocks a new composite trading on monday. Tatoli 3.690.200 3.884.600 2.538,100 2.019.700 1.708.200 1.645.900 1.632.900 1.631.900 1.568.000 1,497,800 1.401.900 1,381,400 1.332.600 1,197,300 1.176.000 last 85 10v. 27 29v. 64 6b 10 11 51 27 18 30 28 78 29 a Rich of 3 off off up up t up off up off up 1 off up off off up american Exchange new York up Tow 10 most a the stocks in America Stock Iteck Enzo Bircham bargin Brunswig tax com Hasbro file Echo Bay Moss Chiaf Falnbigl Pax corp  Plains resource us i composite trading monday. 1,125,200 367,300 342,000 301.600 294.100 252,400 244.900 244.100 240.100 212.600 5 16 26 35 7 17 33 4 14 67 a Rich. Off 2 off up up up up off off off 0 17 Dow Jones new York up a now Jonts during rang of a mass monday am Urfali 2913% 2856?2 287ls of Ujj 20 transport 1205.90 1177.69 1184.42 off14.20 islam my 222.58 218.89 220.77 �0.37 65 stocks 1063.66 104234 1048.58 <6.63 a former pan am employees from left Bridgette Delgado Diane Darowski and Larry Delgado arrive at . Bankruptcy court in new York. They were protesting Delta air lines role in pan am a demise. United wins pan am latin routes setting stage for fight with american by Dirk Beveridge a business writer new York a the nations two largest air carriers Are poised to go head to head in latin America now that United airlines has picked up most of the remnants of pan american world airways in a bankruptcy court auction. United made a winning bid of $135 million late monday night for the latin american operations that gave pan am its Start in International aviation 64 years ago. As United the nations second largest airline gets into those markets it will compete with archrival american which now flies into South America on routes purchased from defunct Eastern airlines. United had tried to buy the pan am routes last summer. But the Chicago based Carrier was edged out when Delta air lines agreed to buy most of pan am a trans Atlantic operations in a Deal that was also supposed to have spared pan am from bankruptcy court last week. Delta backed out of a financing package at the last minute saying dec. 3 that pan am was too sick to be saved. Pan am folded the next Day and the auction of its remaining assets was ordered by . Bankruptcy judge Cornelius Blackshear. The anger against Delta for withdrawing from pan am a reorganization was evident in the dozens of former pan am employees who came to watch remnants of their once proud Carrier be sold off. A Delta. They love to lie and it shows a one former pan am employees sign read. Delta has denied acting improperly but pan am a creditors Are suing the airline for damages. United a winning bid included a Promise to offer jobs to at least 1,000 former pan am employees Over the next two years. The auction netted $160 million for pan am a creditors because Delta air lines also bid $25 million for a route from new York to Mexico City. In bidding that went on for hours United was Able to beat out a bid of $155 million from american airlines the nations largest Carrier and Delta the no. 3 Carrier. United a $135 million bid was for a package that included Takeoff and land ing slots in new York Washington and Chicago in addition to most of pan am a lucrative routes into latin America. United a Purchase still must be approved by Federal regulators. The package apparently will get United into a variety of destinations in Brazil Argentina Uruguay Venezuela and Chile As Well As Points in Central America. Prospective buyers for pan am a assets ranged from Industry giants to charter outfits to the reincarnation of Braniff airways itself a Ward of Federal bankruptcy court Protection. Starved for Money after years of losses and Leavy debts pan am landed in bankruptcy court in january and last week became the third big . Airline to die in bankruptcy court this year. Eastern airlines and Midway airlines were the other two. Business express inc. Offered $2.6 million for eight slots at Washington National Airport but us air upped the bid on those slots to $16 million. In addition Braniff offered $170,000 for a Range of routes into Central America and Mexico. Banks can t find millions Maxwell misused London apr trouble at Robert maxwells wrecked Media Empire deepened monday with word that Bank lenders failed to find More than half of the $1.2 billion in missing Money he had frantically shuffled before his death. The flamboyant publisher s sons Kevin and Lan were immersed deeper in the confusing Jumble of events with the disclosure that a court had seized their passports and impounded assets to assure their help in finding the missing Money. Robert Maxwell apparently used the Money to help mask the weakness of his far Flung web of indebted companies which Range from tabloid newspapers to Scholastic publishing. Early tuesday Kevin Maxwell won an Appeal for the return of his passport so he could Fly to new York to work on a reorganization plan for the daily news which he publishes. Like other Maxwell holdings the newspaper faces a Bleak future. Kevin Maxwell also put his House up for Sale. A we have a mortgage like everyone else Quot his wife Pandora said. The stunning turn of events since maxwells mysterious death at sea last month has created a scandal in Britain where Maxwell was once regarded As a scrappy business hero. Now Many consider him As a conniving scoundrel who purloined pensions and other funds. Richard Stone an accountant hired by maxwells Banks said he had been unable to Trace More than half of the $1.2 billion Maxwell secretly siphoned from Public and private companies before his death nov. 5. Of the $540 million traced up to $144 million was used to make up operating losses and meet interest payments within maxwells private group including the daily news and the european Stone said. Quot clearly the pressure must have been enormous upon him a Stone said in a Telephone interview with the associated press. Employees at the european the English language weekly founded by Maxwell voted monday to continue working without pay while court appointed administrators sought a buyer