European Stars and Stripes (Newspaper) - January 27, 1992, Darmstadt, Hesse                                Monday january 27, 1992 the stars and stripes b Page 17money matter today s tip Kentucky Fried Chicken which operates restaurants in 63 countries has rolled into the general motors corp. Truck and bus Plant near Dayton with its first outlet in a factory. Rick Postle senior vice president for new business development said the special designed Kiosk is a first for the Louisville ky., company and opens up potentially thousands of new distribution opportunities for pfc. Pfc said in Plant distribution in Moraine Ohio will offer a Chance to reach about 3,000 customers who generally done to leave their workplace for lunch. The 150-Square-foot outlet is operated by Ara services a Large National contract food service company. It is a completely new design tailored to a business  rates London up fridays 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 $355.37 an ounce Silver at $4.15. Jan. 23 Jan. 24 British pound.1.7955 1.8055 German mark.1.5935 1.5890 French franc.5.4315 5.4935 dutch guilder.1.7965 1.8163 belgian franc.32.76 33.12 italian lira.1,198.60 1,213.95 Swiss franc.1.4040 1.4205 greek drachma.184.00 185.76 turkish lira.5,406.50 5,450.00 saudi arabian rlyal.3.7501 3.7501 Spanish peseta.100.57 101.82 portuguese escudo.137.32 138.75 Canadian Dollar.1.1545 1.1665 austrian schilling.11.2125 11.3325 norwegian krone.6.2530 6.32 danish krone.6.1740 6.2450 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 monday based on fridays noontime  giant fined $204 million in 1978 spill Case Chicago a Amoco corp. Must pay More than $200 million in damages for a huge Oil spill from the supertanker Janoco Cadiz that blackened the French coast nearly 14 years ago a Federal appeals court has ruled. A a it a a Complete and total Victory a attorney Barry Kingham who represented French villages and towns in the Legal Battle said. Amoco and the French had both appealed a lower courts $155 million judgment against the Oil giant. The company argued that the French never proved who was to blame for the 1978 Accident. The French argued that the lower court miscalculated the amount of interest Amoco must pay in damages. At today a Exchange rate Amoco must pay the French government and other French parties about $204 million Kingham said. Amoco must also pay additional Money to Shell Oil co., the owner of the spilled Oil. Amoco Cadiz slammed into rocks off the wildlife Rich coast of Brittany in High seas and Hurri Cane Force winds on March 16, 1978, spewing 58 million Gallons of Oil into the sea. G-7 to cooperate on efforts to stimulate world Economy by Ruth Sinai the associated press Garden City . A finance ministers from the worlds seven richest industrialized nations agreed saturday to intensify their cooperation to Rev up the worlds sluggish Economy but they left it to each country to decide How. The Bush administration eager to turn around the . Economy before it faces voters in november touted the group of seven meeting As a Success because of the participants commitment to Spur growth. But it failed to win a key Concession from Germany to lower its interest rates a a move the United states is seeking to Spur German consumption and thereby sell More american goods. Moreover the final statement issued by the gathering indicated that no concerted action would be taken by the seven and that the United states would turn its attention to the package of economic incentives being unveiled tuesday in president Bush a state of the Union address. A the main part for . Growth will come in the presidents package a . Treasury undersecretary David Mulford said. A the German position is Well known a said Treasury Secretary Nicholas Brady who met for breakfast with his German counterpart Theodor a incl to assess his position before the meeting at a suburban new York hotel. Germany resisting appeals from the United states and from its european neighbors last december raised its key lending rates to their highest level since the Early 1930s. The finance ministers of the so called g-7 a the United states Japan Germany France Britain Canada and Italy a meet two or three times a year As a sort of informal Board of directors for the world Economy. Their final 4v2-Pagc statement issued after a seven hour meeting behind closed doors expressed concern that world economic activity has weakened since their last meeting in the fall. But it also cited signs of a turnaround this year. Economic analysts have forecast an average worldwide growth of about 2 per cent this year up 1 percent from 1991. The g-7 a agreed that in present circumstances there was a need to intensify their cooperative efforts to improve the conditions for non inflationary growth in their  but the statement added Quot the specific mix of policies would vary depending on the circumstance in each  the ministers then spelled out the economic conditions and objectives of each country. The Section dealing with the United states emphasized the state of the Union message including measures to improve consumer Confidence encourage savings and investment and Spur research and development spending. The Section on Germany said that once wage demands Are brought under control and prices Are stabilized interest rates might be lowered. The germans insisted on a Strong currency to fight inflation at Home which has topped 4 percent. The French too agreed that their currency must remain Strong against the Dollar. Bankruptcy Only Choice for Macy s after failed bailout report says new York a debt Ridden retailer . Macy amp co. Could file for bankruptcy Protection As soon As today a newspaper reported. Five people involved in a failed attempt by billionaire Laurence a. Tisch to buy the Chain said no other offers Are pending the new York times reported sunday. A bankruptcy is really the Only Choice a one told the newspaper which did no to name the officials. And the Washington Post reported that Macy a would seek bankruptcy Protection sometime this week barring a change of heart by its creditors. Banking sources told the Post that Macy a could expect no new credit. A new credit will not be an Issue because there wont be any a the Post quoted one source As saying. A Macy a spokesman Jim Fingeroth declined to say saturday night whether the retailer planned to file for chapter 11 Protection from its creditors. A a in a not going to be Able to give you any comment a Fingeroth said. Tisch a Macy a director and head of lbs inc. And the Loews corp. Tobacco hotel and insurance conglomerate broke off discussions Friday. Loews said a major Macy a creditor which the times identified As Prudential insurance co. Of America had rejected the proposal. Its 20,000 suppliers got their first hint earlier this month that the retailer was in serious financial trouble when Macy a said it was delaying payments for two times Are troubled for Macy a whose flagship new York store is shown Here. Weeks a until this past saturday a to goods to the company a chains which in comply with limits on Bank borrowings. It failed to meet saturdays deadline Cable news network reported. Fingeroth declined to comment on that report. Some suppliers have stopped shipping elude i. Magnin Bullocks and several Small specially stores. The 133-year-old retailer is saddled with More than $3.5 billion in debt from a 1986 leveraged buyout by Macy a management. Huge merger to Combine Volvo pro Cordia by the new York times London a in what would be one of the biggest mergers in Europe . Volvo and pro Cordia ., a swedish food and drug conglomerate announced saturday that their boards had agreed to a $6.6 billion Deal to Combine their companies. The agreement Calls for shareholders of Volvo the swedish car and truck giant to receive pro Cordia shares. It would create a company that would be called Volvo and would Nave 105,000 employees and revenues of about $20 billion. The Deal comes at a time when the european car food and drug industries Are consolidating a a development driven by trends in Europe As Well As economic forces throughout the world. In Europe the Barrier free single Market that the 12-nation european Community plans to create by the end of this year is causing increased Competition in these and Many other industries. Although Sweden is not yet a member of the Community a it applied for membership last year and probably will not be accepted until 1995 a the dec is a major Market for swedish companies. In a statement the two companies noted that pro cordial a Strong Cash generating food operations and expanding drug business which Are relatively immune to economic downturns would Benefit Volvo a cyclical vehicle business