European Stars and Stripes (Newspaper) - January 7, 1992, Darmstadt, Hesse                                Tuesday january 7, 1992 the stars and stripes Page 17 nov it in \ it in sgt a Money matters steelworkers to vote on pact after negotiated settlement up to 10 percent of new York City area retailers May go out of business within the next year according to a report in a new York business newspaper. Between 8 and 10 percent of new York area retailers and apparel companies May not be Able to weather the financial crisis affecting businesses nationally and May be forced out of business r. Fulton Macdonald fires Dent of the new York based International business development told Crains new York  s a by the end of 1992, i expect 8 to 10 percent of new York area retailers will file for bankruptcy or go out of business a Macdonald  rates London up mondays 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 $351.15 an ounce Sliver at $3.92. Jan. 3 Jan. 6 British Pound.1.8495 1.8705 German mark.1.5455 1.5257 French franc.5.2560 5.2070 dutch guilder.1.7271 1.7160 belgian franc.31.71 31.38 italian lira.1,162.00 1,151.00 Swiss franc.1.3715 1.3575 greek drachma.176.95 176.10 turkish lira.5,122.80 5.117.80 saudi arabian riyal.3.7499 3.7498 Spanish peseta.97.37 96.69 portuguese escudo.134.00 132.90 Canadian dollar.1.1491 1.1461 austrian schilling.10.79 10.70 norwegian krone.6.0350 5.5540 danish krone.5.9650 5.9300 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 British pounds to . Personnel for personal use. Through tuesday this will be $1.92 for a Pound based on a Price fixing monday afternoon at military banking  lure asked for purchasers of big 3 cars by the new York times Washington tax incentives for americans who buy domestically made cars could help stimulate sales and save a a dying Industry in Detroit a research organization has proposed. Calling on the government to intervene As an advocate for the big three automakers a report by the economic strategy Institute advocates diverting some Money from military research and development into a Low interest loan for a cooperative research and development project. The report suggested that the project be sponsored by the automakers. The Institute a Washington based group that conducts research on Trade issues is partly financed by Chrysler corp. And Ford motor co. But the groups president Clyde Prestowitz said its report on the Auto Industry was not directly paid for by the automakers. Proposals for action by the government include a personal income tax deduction for one year to Consumers who buy american made cars from the big three. Coatesville a. A negotiators for Lukens steel co. And its Union reached a tentative pact to end a 3-month-old strike against the Small Pennsylvania steel company. The unions 1,300 striking steelworkers had been seeking their first  raise in nine years and improved health and retirement benefits. They were expected to vote this week on the proposal which was approved sunday. The contract proposal would end a strike that became widely publicized after Union officials took their gripes All the Way to Wall Street. Meeting with Stock analysts in november representatives of United steelworkers of America insisted that company management had spread unduly optimistic information about the company a ability to weather the walkout. The unions Hope was to bolster its negotiating clout by putting pressure on the company a Stock Price. The agreement sunday came after nearly a week of late night negotiations with a Federal mediator with the final stretch starting saturday afternoon and continuing through the night. Details of the pact were not to be released until Union officials put it before the 1,300 members of the United steelworkers local 1165. Union members have at least 48 hours to examine the four year offer before voting. A Union meeting was scheduled for today. A no one should go Back to work yet a said local president Harry Haines. A the Union and the company will work out a Back to work schedule once the membership ratifies the tentative  during the strike the company said it operated at 85 percent of pre strike production Levels with no delays in filling orders by using 115 Union members who crossed picket lines 300 temporary employees and supervisors. Striking Lukens steel co. Workers picket outside the Coatsville pa., Plant. Company officials and Union representatives reached a tentative contract agreement sunday to end the 3-month-old strike. Union officials however had contended the company a production level was actually much lower. Lukens makes heavy steel plates for use in construction projects heavy Industrial equipment and the military. Negotiators had resolved issues of salary Ana the use of outside contractors before Christmas. The remaining obstacle was related to pension benefits. Union leaders had said they wanted a $l,500-per-month pension for employees with 30 years of service. The monthly pension for an hourly worker with 30 years at Lukens now starts at about $600. The Union went on strike on oct. 1. Negotiations broke off in late november when management of the Plant walked out of a meeting at which the Union had presented its revised counterproposal. Talks resumed after a dec. 5 announcement by Lukens that its chairman and chief executive officer . Wilson had resigned six months before he was scheduled to retire. Wilson who had run the firm for a decade was the third Lukens executive to leave since september in what has become an extensive management reorganization. Inventor of intermittent wipers wins lawsuits but loses lawyers Detroit apr the inventor of intermittent Windshield wipers used in millions of vehicles worldwide is winning his court Battles with the automakers but has lost his lawyers. Attorneys who successfully argued the Case against Chrysler corp. Last month for the inventor said they dropped him for failure to  them. Intermittent wipers Are Standard or optional equipment on most vehicles. Wards automotive reports said the wipers were installed at the factory on 74 percent of All 1991 .-built cars. Inventor Robert Kearns said sunday that he has hired a new firm and Hopes to win his 18 pending suits against other automakers though he wont reclaim the time spent in litigation. Lawyers from the Washington d.c., Law firm of Reed Smith Shaw amp Mcclay told . District judge Avern Cohn in Detroit on dec. 19 that they  represent the inventor because he owes them $900,000. Kearns 64, said the firm went Over budget. He told Cohn he had about $1.2 million left from his $10.2 million settlement with Ford motor co. In 1990. The Money mostly went to  debts income taxes and attorney fees he said. Plan to restructure Rebcook d by creditors Twinsburg Ohio a creditors of re co . Inc. Have approved a management backed proposal to reorganize the drugstore Chain Clearing the Way for the plans confirmation re co announced. The plan was one of three competing a Revoc said sunday. Re co Ileal for chapter 11 bankruptcy court Protection in july 1988 when it failed to make an interest payment on $800 million of High yield junk Bonds the plan proposed by re co creditors was accepted by four or t the seven groups voting including Banks and Trade suppliers preliminary results show. A the creditor plan has now been shown to have the strongest support by creditors a re co chairman Boake a. Sells said in a statement. A we continue to believe it is the Best plan for re co and its  As expected it did not get support from some bondholders Sells said. Details on the proposal were not released. A Call to company spokeswoman Diana Lueptow went unanswered sunday. Two other plans one from rite Aid corp. And another from the Jack Eckerd corp., did not get enough support for confirmation. Both drugstore chains had proposed takeovers of re co. Confirmation hearings were scheduled to begin wednesday in . Bankruptcy court in Akron where a judge can Ade on whether to accept the proposal to bring re co out of bankruptcy Protection. Re co operates 1,150 drug stores in 10 states. The privately held company has annual sales of More than $1.9 billion