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Publication: European Stars and Stripes Saturday, February 8, 1992

You are currently viewing page 16 of: European Stars and Stripes Saturday, February 8, 1992

     European Stars and Stripes (Newspaper) - February 8, 1992, Darmstadt, Hesse                                Saturday february 8, 1992 the stars and stripes b Page 17money matters Dow chemical co. Is taking a nationwide Survey to determine whether its image has suffered from publicity about Dow Corning  silicone gel breast implants. A we want to see How much splash Over its had on us a Thomas k. Smith Downs vice president said thursday. Smith said the company was concerned because some news reports about the breast implant controversy referred to Dow Corning As Dow. The two Are separate. Dow Corning is a joint venture of Dow chemical and Corning inc. Officials of both companies Are on Dow coming a Board of directors but Dow coming operates independently Smith said. The food and drug administration last month ordered a 45-Day moratorium on silicone gel implant operations. The implants have been blamed for a variety of disorders including Lupus and arthritis but no link has been proved. Conversion 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 $356.25 an ounce Silver at $4.22. Feb. 6 feb.7 British pound.1.8155 1.8345 German Mark 1 5800 1.5620 French franc 5 3472 5.3800 dutch Guilder 1 7758 1.7786 belgian Irani 32.57 32.22 Kalian lira. 1,186.90 1,188.60 Swiss franc 14100 a 1.3965 greek drachma 182.45 182.98 turkish lira. 5 490.00 5,511.50 saudi arabian nyal.3.7497 3.7497 Spanish peseta.99.30 99.45 portuguese escudo.135.80 136.38 Canadian dollar.1.1791 1.1810 austrian schilling.11.095 11.12 norwegian krone.6.1880 6.2030 danish krone.6.1250 6.1275 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 monday based on fridays noontime Price fixing. New York Exchange new York up York Stock Exchange a the 15 most Active stocks in new composite trading on thursday. Stock sales last net chg. Owens coming 4,667,200 36 i up 7 i Citicorp 3,895,100 16 Ftp Rwjr Nabisco hid 2,909,400 10 i off i Conti Bank corp fed dept str i 2,935,500 15 up 1 2.848,200 16 i off i Atcuson corp 2,674,800 23 i up i Tel Fonos de my 2,632,800 51 up 1 i Dresser Indus 2,589,900 20 i up 1 a Nat Semi conduct 2,509,000 9 i up i Glaxo holdings 2.284,200 30 i off a limited inc 2,239,100 31 i off i Chrysler corp Eastman Kodak 2.029,100 1,968,900 16�?T/ 46 a off a up adv Micro docs 1,752,500 20 to off 1 i chemical Bank 1,683.900 30 i up i american Exchange new York american Stock 3 a the 10 most Active stocks in Ange composite trading thursday. Slock sales last net chg. Us Bio science 1,097,400 17 i off i fruit of loom 807,600 32 i up 1 a carnival cruise 623,700 28 a up a Amdahl corp Weatherford inc 587,400 19�?T/ offy 533,300 4 off Yenzo Bochem 478,400 5 i up i up 3 i Hotek inc 330,100 11 i Alza corp new York times 304,800 49 off i 299,400 28 off i Wang labs inc b 286,300 3 i upyt Dow Jones new York up Dow Jones dosing Range of averages thursday close Chengos 3255.59 of 2.01 1392.19up 8.78 207.81 up 0 06 1169.65 up 1.80 30 industrials 20 transport 15 utilities 65 stocks 1 3285. 1403.96 209.19 1179.77 3224.96 1373.13 206.43 1157 60 the new 626 is introduced thursday at Chicago a Fairmont hotel. Mazda Hopes the Epa will classify it As  Mazda rolling out new compact containing 75 percent . Parts by the new York times the cars As a a Domestic for Dur noses of com politicians but would probably not do by the new York times Chicago a Mazda motor corp., offering solid evidence thursday that its cars Are becoming More american introduced its new 626 compact Model. The company said it expects the Model to be the first foreign Brand car to be classified As a a Domestic for the purposes of Federal fuel efficiency regulations. Mazda introduced the car at the Chicago Auto show. All of the 626�?Ts steel Glass paint electronics and major components a except the engine and transmission a Are bought from . Suppliers. Some of the suppliers Are longtime american companies. Others Are owned by japanese companies and some Are joint ventures of american and japanese owners. The United automobile workers Union and other critics of Japan contend that japanese automakers import Many parts and relabel them As Domestic after changing them Only slightly. The four door Mazda 626 and the two door mx-6, which Are built at Mazda a Assembly Plant in Flat Rock mich., will contain More than 75 percent Domestic Content. Thus the automaker expects the environmental Protection Agency to classify the cars As a a Domestic for purposes of complying with corporate average fuel Economy regulations. Those rules require each automakers Fleet to deliver on average at least 27.5 Miles a gallon import and Domestic fleets Are averaged separately. Mazda a announcement came at a moment of Sharp tension Between the United states and its automakers and Japan and its Auto Industry. Big three executives have been urging Washington to restrain japanese sales As a Way to forestall Plant closings and layoffs in the United states. Mazda and other japanese automakers assert that they employ american workers and contribute substantially to american economic vitality. A key component of this argument has been stressing the Domestic nature of some of the Best Selling japanese models. The japanese automakers have also promised to increase purchases of american made automotive parts to help redress the Trade imbalance. But if Mazda is pleased with the american Content of the 626, it does not plan to share that Pride with Consumers. Clark Vitulli senior vice president of Mazda a american sales subsidiary said Mazda would emphasize the Domestic character of its vehicles to the news Media and to politicians but would probably not do so in its advertising. Quot most of our customers intend to buy imports anyway a Vitulli said. A where the cars come from Isnit As important to our buyers As Quality and  the japanese automakers arc nervous about protectionist legislation developing in Congress As Well As what they see As nascent Japan bashing. But so far automotive sales figures suggest that any a buy american sentiment Nas not translated into lost sales for foreign makes. Honda motor co. Has also been building cars in Ohio. It said its cars contain 75 percent Domestic Content. But because Honda also imports accords built in Japan the models average Domestic Content is not Large enough to qualify the Accord As a Domestic car. Toyota motor corp. Builds Many but not All of its camry in Georgetown by. The new Mazda 626, when it goes on Sale in May will enter one of the most competitive segments of the automotive Market a larger compact and mid size cars a category that includes the Accord camry Ford Taurus and general motors midsize sedans like the Chevrolet Lumina. Last year Mazda sold 68,000 626s in the United states it sold 64,000 in 1990 and 55,000 in 1989. Shoppers boost retail sales in january pc by the associated press the nations largest retailers reported better than expected sales results for january As Consumers spent vigorously for the first time in months. But analysts warned it was too soon to Redict a recovery from the Industry song slump. Last months sales figures released thursday by the big retailers were compared against the depressed performance of january 1991, when Consumers were preoccupied with the persian Gulf War. The month is also the least significant on the retail Calendar and the end of the fiscal year for Many retailers. A january results were stronger than expected but should not Lead anyone to conclude that the Economy is Likely to Jick up strength in the near term a said Effrey Feiner an analyst with the new York investment firm Salomon Brothers inc. Nonetheless business improved in All parts of the nation and in All merchandise lines. That was a marked change from the fragmented results of the past year. Scars Roebuck and co., one of the companies hit hardest by the recessionary slump in consumer spending reported a pickup in major appliances sales a category that had been flagging. Wall Street was generally pleased with the retailers results. The stocks of several retailers closed sharply higher in new York Stock Exchange trading. Sears Stock Rose $1.50, to $43.87w a share. Kmart corp. Was up $1.87vi to $52.87vi, and . Penney co. Inc. Gained $2.50, to $59.87vi. Industry Leader Wal Mart stores inc., which chalked up stronger sales gains than Many of its competitors throughout the year was off 62vi cents at $54.73. The january sales improvement followed months of sluggish business and a disappointing Christmas season that landed some retailers a most notably . Macy amp co. Inc. A in bankruptcy court. While last months sales looked better the recession still left some big companies with disappointing full year sales. Sears suffered a drop in annual sales to $33.71 billion Down from $33.95 billion and fell to third place among the nations biggest retailers. Discounters a Wal Mart and Kmart a turned in the strongest performances in fiscal 1991 As budget conscious Consumers Quot traded Down a turning to lower priced stores for better values. Some specially stores a in particular apparel retailer the Gap inc. A thrived by offering Consumers moderate prices and Good merchandise selection. Wal Mart which dethroned Sears Early in 1991 As the nations no. 1 retailer cemented its Lead with annual sales of $43.89 billion up from $32.6 billion. Kmart was second with $34.58 billion up from $32.07 billion. The results reported thursday differ from the monthly retail sales report from the government which includes sales from supermarkets restaurants and car dealers  
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