European Stars and Stripes (Newspaper) - January 29, 1992, Darmstadt, Hesse                                Wednesday january 29, 1992 the stars and stripes b Page 17money matters p la general motors corp. Asked the Federal securities and Exchange commission on monday for permission to sell $750 million Worth of a new Stock to raise Money for general corporate purposes. Last month pm raised $1 billion through the sales of another series of preference Stock. Pm like big three rivals Ford motor co. And Chrysler corp., is expected to report huge financial Osses next month. Analysts have estimated that Gmys losses May approach $4 billion for 1991, a record for the worlds largest automaker. The series c pm preference Stock will be sold for $50 a share. Pm plans to offer 12 million shares in the United states and 3 million shares overseas. It is holding another 3 million shares As an option if the original Issue proves popular. Pm said the new Stock will be convertible to class e common Stock linked to Gmys electronic data systems corp. Subsidiary at a Premium at the investors option. Conversion rates London up tuesdays 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 s356.00 an ounce Silver at s4.19. Jan. 27 Jan. 28 British pound.1.7885 1.7945 German mark.1.6150 1.5950 French franc.5.4740 5.4815 dutch Guilder. 1.8189 1.7995 belgian franc.33.10 33.06 Kalian lira.1,207.00 1,209.05 Swiss franc.1.4290 1.4255 greek drachma.185.32 186.00 turkish lira.5,450.10 5,473.70 saudi arabian rtyal.3.7500 3.7501 Spanish peseta .101.30 101.30 portuguese escudo.138.28 138.62 Canaan Dollar .1.1715 1.1709 aus Tan schilling.11.2940 11.3425 norwegian krone.6.2970 6.3140 danish krone.6.2240 6.2400 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 wednesday based on tuesday s noontime once fixing. New York Exchange new York up York Stock Exchange the 15 most Active stocks in new composite trading on monday. Slock Salon Leal net cog. Uniss corp 9.165,900 7vk of i Cut Ysler corp 2,979,500 15 up i1 at amp to company 2,768,000 38 off i Citicorp 2,428,500 15 up Vuk chemical Bank 2,351,100 28vi up Virr Nabisco hid 2,170,300 10vi unch general motors 2,128,500 34 Vuk up 1 i Glaxo holdings 2,106,400 30 on Vuk booing co Ford motor co 1,831,800 54 i up 1 Vuk 1,718,000 32 Viup 1 blockbuster ent 1,596,700 13 up a a Commodore inti 1,592,400 16vi on 2 i Anscom Plenc 1.556.400 5 i up i Amer express co 1,551,100 22vi up i Telef Onoe of my 1,534,500 49 on Vuk american Exchange new York u Amer can Slock l Slack Conti air hides Ich com carnival Crusa Iva corp Wang labs inc b Erub Iochum  Fulo loom Amdahl c instrument a tha 10 most Allva stocks in i compos a trading monday. Ftp keys ides lost notch 1,650,800 1,425,600 2 i 5vk up i on i �?�16,800 28 up Vuk 551,600 38 up2vi 491,600 4 unch 394,200 5vk up 1 Vuk 364,900 33vi up 247,300 28v4 unch 238,300 18 up i 219,700 7 up i Dow Jones new York up now Janas dosing Tings d a Aragus monday omut Tau 20 transport Tsuzun 65 stocks 326715 1360.42 21470 117427 3216.23 134996 21207 1154.23 last 3240.61 1356 32 213.45 116165 Tutu of 5 97 Oil 0.62 on 012 Nissan chief in Japan assails top . Car Industry officials Tokyo up a Nissan motor co. President Yutaka Kume lashed out at the chairmen of americans big three automakers for criticizing the results of president Bush a Trade Mission and said he has no intention of meeting again with his . Counterparts. A the reaction from the United states is incomprehensible a Kume told reporters monday. In unusually Strong comments for the chairman of the Japan automobile manufacturers association Kume blasted the leaders of Chrysler Ford and general motors for undermining the results of Bush a four Day visit to Japan this month. The two trading partners agreed to an a action plan aimed at reducing the $38.45 billion deficit America has with Japan. Rallying behind prime minister Kiichi Miyazawa for saying import figures for . Automobile and Auto parts announced during the Summit were a target not a firm commitment Kume said a the prime minister was right. Figures in the action plan Are  last week Miyazawa a remark caused a stir among . Officials As Well As american Auto Industry leaders. That prompted a beleaguered Miyazawa to soften his comment two Days later and add that Japan will a faithfully carry out its pledges to buy More . Cars and parts. A the International Trade and Industry ministry asked automakers to propose figures of How Many automobiles and Auto parts we can buy from the United states a Kume said. A we struggled and somehow presented those  Japan a five major automakers said they would increase sales of big three cars through dealerships in Japan by 20,000 a year by fiscal 1994. They also announced plans to More than double their purchases of american car parts to $19 billion. . Automakers have attacked the figures As insufficient to reduce the deficit and question whether their japanese counterparts will carry out their pronouncements included in the non binding pact Between Bush and Miyazawa. Although Kume had said during the Summit that american and japanese car makers should meet regularly the industrialist said he now takes a dim View of further gatherings contending they would pose antitrust problems. Kume said he believes the targets can be achieved at least As far As parts arc concerned since Nissan Japan a no. 2 automaker and the others arc the sole Consumers of the parts. He said however that he could not guarantee the figures for sales of . Cars. It is up to . Companies whether they can sell cars to the japanese Kume said noting the japanese Auto companies can Only assist. Referring to the big three chairmen who accompanied Bush Kume said a of All things in the world they began arguing after they returned Home that their cars Are not Selling Well in Japan because of Japan a import restrictions. A How dare they say that a Kume suggested the american automakers focus More on investment for development based on a longer perspective. A they Are now in trouble because they without Long term perspective fired their engineers one after another when the companies were in financial difficulties a Kume said. A we benefited because we could hire Many of those engineers at Nissan a Plant in  election May highlight pressures on business from within without by John Cunniff the associated press new York a the wonder of it is that american business even survives and stays competitive when you consider the demands mad by management employees and governments. In some Way or another All attempt to live off it and since All want to live Well they seem continually to raise their expectations and demands. It May be the machinery of wealth but it is often treated As the common enemy. The subject of businesses role in american life is Likely to be discussed often in the upcoming political campaigns placed on the Agenda by a variety of news events and financial and economic difficulties. Already there has been sufficient discussion to observe that the criticisms and suggestions tend to Cross political boundaries with conservatives and liberals sometimes thinking alike. Some people seem to believe that business a the abstraction rather than specific companies a May have suffered mistreatment in recent years by managements for example through rip off salaries bonuses options and Perks. In some companies executive salaries and other forms of income often have lost any relationship to productivity or accomplishments. Raises Are awarded while dividends Are Cut. Incomes Rise while Market share diminishes. In some instances performance bonuses Are awarded while the company loses Money and the shares lose value. Who awards such bonuses management a but it is Able to do so Only because directors have failed to stand in the Way. When the top allows such things to happen it May be no wonder that the attitude of a a let a live off the company Rath analysis or than contribute to it permeates Many Large and once successful companies. The Pace of worker demands has slowed since the mid-1980s, but for decades before that labor often insisted on wage and Benefit increases sustainable Only at the expense of profits Quality and competitiveness. In Many instances especially in the automotive Industry management agreed to demands knowing that it left no alternative but to raise prices. In effect they delayed facing the facts until buyer resistance forced them to do so. In the past two decades benefits have become a bigger share of income especially health benefits. Now health care costs have gone wild. Faced with ruinous increases businesses everywhere Are trying to shed some of the Burden but cannot. Work related medical insurance is now the Standard a the nations medical insurance plan. Perhaps the source of the biggest Bur Dens on business is government at All Levels and taxing is its most obvious manifestation. Whenever government needs Revenue As it does today the proposals arise As they Are arising now. So Many of these have been turned into Law that some companies today find it impossible to determine whether they Are paying All their taxes and adhering to regulations. Meanwhile shareholders remain double taxed on dividends. Attempts to create tax incentives to Spur business development generally become so mixed up with politics that potential benefits for All society a jobs tax Revenue goods and services a Are lost in the confusion. But the most pervasive Impact of government May be through demands it makes on the machinery of business. It is the governments collector of taxes keeper of records processor of information enforcer of standards and agent of Law. Whereas boards of directors May have fallen Short of performing their role in governance government May have Over performed. In some Small businesses time spent adhering to regulations and mandates consumes hours each Day. Some of these burdens on business May logically belong there but some also seem to be the result of an underlying attitude that business is something that lives off society rather than the machinery of society a material Well being. Computer firm shipped virus with orders new York apr leading Edge products inc. Has told its dealers that As Many As 500 of its personal computers shipped last month contain a powerful computer virus a published report said tuesday. Leading Edge maker of ism clone personal computers alerted its dealer service centers in a Jan. 14 letter about the problem the new York times said tuesday. The affected models shipped Between dec. 10 and dec. 27, contain a computer virus known As Michelangelo the report said. Computer viruses can wreak havoc on personal computers leading to disk storage errors system failures and erratic behaviour. The viruses Are Small programs that Are passed from computer to computer typically when disks Are transferred from one machine to the other. The Michelangelo virus for example is programmed to erase a computers hard disk on March 6, the artists birthday. Leading Edge based in Westboro mass., said it planned to Send customers special software programs aimed at tracking and eradicating computer viruses. A a we be tried to be on the up and up about this a said Margaret Cardamone director of reseller services for leading Edge. The virus was spread from a Vendor whose hardware and software was bundled with leading edges computer she Saih