European Stars and Stripes (Newspaper) - December 13, 1991, Darmstadt, Hesse                                Friday december 13. 1991 the stars and stripes b Page 17money matters today s tip savings institutions eked out a meager $272 million profit in the Juty september Quarter the government said wednesday. Profits at the country a 2,148 still solvent Thrift associations were Down slightly from a revised $275 million in the second Quarter. The profits had been originally reported at a healthier $387 million the office of Thrift supervision said. Still it was far better than the $774 million loss during the third Quarter of 1990 and it marked the third consecutive quarterly profit by the Industry the first such string since 1986. But in a worrisome development California a amp is lost $127 million the most of any state in the country. California which holds roughly a third of the Thrift Industry a assets was among 13 states posting  rates London up thursdays 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 $359.50 an ounce Silver at $3.86. Ripe 11 few 1 0 British pound.1.8060 1.8090 German mark.1.5810 1.5745 French franc.5.4220 5.3780 dutch guilder.1 7904 1.7735 belgian franc.32.65 32.55 italianlwa.1,199.40 1,189.35 Swiss franc.1.3965 1.3982 greek drachma.182.00 180.60 turkish lira.5,060.40 5,042.90 saudi arabian riyal.3.7495 3.7495 Spanish peseta.101.40 100.65 portuguese escudo.140.28 139.96, Canadian dollar.1.1363 1.1422 austrian schilling.11.1890 11.0780 norwegian krone.6.2600 6.20 danish krone.6 1830 6.1225 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 1.54 through Friday based on thursdays noontime Price fixing. New York Exchange 1 new York up a the 15 most Active stocks in new York Stock Exchange compos trading on wednesday. Stock Teles last net chg. Owens Illinois 9.408.500 10 Vunck Tel Fonos of my 4.970.500 39 % o�1 % in corp 2.590.200 87% up 1 % a01 limited 2.470.100 5% Oft % Glaxo holdings 1.745,300 29 off % fur Nabisco hid 1.733.900 10% off a general motors 1.699.200 27% off % Philip Morris 1,663 900 68 % off % Pepsico inc 1,629,000 30% unti Triton Energy 1.503,600 33% up 1 at amp to company adv Micro docs 1.503,000 37 % up % 1,501,100 15% up % ban America 1,482,600 31 off % genl electric 1,455,900 65% up % global Marine 1,433,100 2% off % american Exchange Botar Charmco Tubio Macam Yanolatos inc b Enzo Bochem  Bergen Brunswig fruit of loom pm group we Usebio science Echo Bay mines the ten met Abw stocks in in composite trading wednesday. Met last Mitcha. 601,800 7% up off % 581,000 7% 546.300 2% unch 539,100 2% off 1 % 525.200 3 unch 380,200 17 up 375,700 24% off % 304,900 9% off % 290,900 75 up3 % 276,000 7% off % Dow Jones new Vork up Dow Jones dosing mrs of aws Gss wednesday pm of Cut 30 industrials 288853 2832 29 2865.38 up i s 20tr�sport 1178 81 1151.72 1160.50 of 1140 15 Ink by 221 08 217 83 219 27 dffl.43 86 stocks 1051.12 1030 20 1040.27 Oft 2.81 draw Down leaves cafes scrambling to find workers by David Tarrant staff writer Frankfurt Germany a Robert v. Jeffers has a problem that few executives of . Companies face in these Days of recession. Jeffers a Recruiter for the army and air Force Exchange serv ice Europe is desperately seeking workers. Within the . Military Community in Europe these Days jobs a hundreds of them a Are there for the taking. A combination of factors linked to the draw Down had helped deplete the ranks of workers at cafes exchanges Burger bars service stations and other outlets run by the Exchange service cafes officials say. A the labor Pool is dry. Battalions Are moving out. Replacement units Are coming but in Many cases they Haven to arrived yet Quot Jeffers said. The result is a glut of Job openings that could last through Spring. Meanwhile cafes is stretching to fill its employment needs in Europe. The most difficult jobs to fill Are found in fast food outlets requiring night and weekend shifts. For example the cafes Burger King in Babenhausen Germany has been unable since May to open on weekends because of the worker shortage Jeffers said. Worker turnover also has created havoc for Exchange managers who Are losing experienced sales clerks and having difficulty finding new ones he said. Since september cafes has conducted an aggressive recruiting Campaign in communities with the most Job vacancies. These include Frankfurt Rhein main wiir2burg, Grafe Wohr Mannheim Ramstein and Heidelberg. The service has also conducted an advertising Blitz on an television and radio. The stars and stripes and unit newspapers and has printed about 20,0 m posters advertising jobs. Some regional cafes managers have even offered to  baby sitting expenses in an Effort to recruit spouses to work evening and weekend shifts. One flier advertising positions at an the cafes Burger King in Frankfurt offered an extra $2.50 per hour to compensate for babysitting expenses in addition to the Basic hourly salary of $4.68. A general manager in Nairn Borg is of a amps David Tarrant Cpl. Curtis l. Baker of Frank flirt looks Over cafes Job recruiting brochures during a recent Job fair at the Frankhart base Exchange. Firing an incentive program under which employees earn extra Points for working evening shifts that can be cashed in for dollars. During Job fairs recruiters aggressively seek potential workers in exchanges often stopping shoppers to ask them if they would consider jobs with cafes. Jeffers said he has visited High school business classes to look for students interested in learning about the retail Industry from the ground up. As a result of these and other measures the situation has begun to improve Jeffers said. Troop reductions have drained much of the labor Pool that cafes has drawn from in the past. Military family members constitute up to 50 percent of the traditional cafes work Force. When Scricc members Are sent Back in the states a they take their wives husbands and children with them a Jeffers said. Japan s Bubble Economy has burst experts believe Tokyo apr after years of unprecedented economic growth two gloomy words Are making an unwelcome return to the japanese vocabulary a Keiki or a hard  shopkeepers restaurant owners Stock Market investors and private economists Are talking about the dust they Are convinced is hitting Japan after almost five straight years of Boom though government officials say otherwise. A Bank of Japan Survey of 7,428 companies conducted in november indicates the business sentiment Index for major manufacturers has dropped to 13, Down from 27 in August. It predicted the Index would fall to 7 by next March. The Index measures the percentage of companies responding that business conditions Are a Good a minus the percentage who say conditions Are  those that say conditions Are simply a a oks Aren t reflected in he Bank a Index. Officials at Japan scentral Bank insist that most indicators show the Economy remains firm. Many private economists believe otherwise. Johsen Takahashi director of the private think tank Mitsubishi research Institute said that a much of the Boom in consumption has been supported by the  i think we can expect a Long slump a 1992 will be no Good a maybe about two  almost everyone agrees that the Days of the a Bubble Economy Quot Are Over. Land and Stock prices More than doubled during that period and the newly Rich gorged themselves on luxury imports. Government economists blame the slowdown on policies aimed at Cooling the overheated Economy and restoring some rationality to Japan a outrageously inflated real estate and Stock markets. Adrian Tschoegl chief economist at Sci securities Asia ltd., likened the anxiety about fun Keiki to a hangover after years of reveling in the economic Boom. The draw Down has also produced a reduction in service members working part time during off duty hours he said. Military members account for another 10 percent of the cafes work Force. Finally local nationals arc reluctant to take jobs with cafes As . Installations dose. The problem is aggravated by Competition for workers from other employers including merchants Bank the civil service system As Well As companies under contract with the military Jeffers said. The situation has Given Way to a new trend of a Job shopping a said Donald Miller general manager of the Frankfurt metro Exchange. A the turnover is a major concern a Miller said. A it takes time to train people and in some cases they re changing jobs even before they re finishing their train a a a 11  layoffs wednesday was a bad Day employees of four major . Companies All four announced plans to slash jobs. Here is a breakdown of their plans. Caterpillar inc the Peoria iii., maker of heavy machinery announced the probable closing of a manufacturing Plant in York pa., that could Lead to 1,900 Job  motors corp the nation s largest automaker indicated major changes in its North american operations including Plant closings. Details will be announced next week. Try inc. The credit rating and Industrial company said it planned to Cut 10,000 jobs or 14 percent of its work Force Over the next 18  corp the copy machine company said it will reduce its work Force by 2,500 in a Cost reduction Effort. Source the associated press a amps Susan hams