European Stars and Stripes (Newspaper) - March 30, 1992, Darmstadt, Hesse                                Monday March 30, 1992 the stars and stripes b Page 17money matters today s tip Chrysler corp. Has nearly Cut by half its stake in Mitsubishi motors corp., from 11 percent to about 5.88 percent by Selling shares to japanese and european institutional investors. A Mitsubishi senior official put the value of the Sale of the 43.6 million shares at roughly $205 million. The Sale leaves Chrysler a longtime investor in and partner with the japanese automaker with 50.25 million of Mitsubishi a 853.9 million shares Mitsubishi said in a statement in Tokyo. Conversion rates London Rupi 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 $342.00 an ounce Silver at $4.12. March 26 March 27 British Pound.1.7223 1.7360 German mark.1.6570 1.6460 French franc.5.6105 5.6285 dutch guilder.1.8715 1.8684 belgian franc.34.02 33.95 italian lira.1,247.80 1,250.60 Swiss franc.1.5060 1.4982 greek drachma.192.18 192.76 turkish lira.6,204.60 6,226.80 saudi arabian riyal.3.7502 3.7502 Spanish peseta.104.55 104.84 portuguese escudo.142.55 142.96 Canadian Dollar.u883 1.1906 austrian schilling.11.6475 11.6275 norwegian krone.6.500 6.512 danish krone.6.4215 6.4385 these Are commercial rates and can be related Only to the use of foreign currency by . Forces for official business. The Only official rates concerns the Sale of German Marks and British pounds to . Personnel for personal use and these will be 1.62 Marks to a Dollar and $1.77 for a Pound through monday based on fridays noontime Price fixings. Disney decides to pull Mickey out of Kitchen Glendale Calif. Up Walt Disney co. Is getting out of the fast food business after an Experiment with two mickeys kitchens. Instead the entertainment giant plans to devote its resources toward expanding its Disney stores from the current 126 outlets to four times that number Over four years. Much of that expansion will focus on the overseas Market with nearly 200 stores expected to open by the end of 1996. A was much As we love the environment of the mickeys kitchens the fast food business is not As attractive for us As increasing the number of stores a said Stephen b. Burke Disney a executive vice president of specially retailing. The experimental mickeys kitchens Are in Montclair Calif., and Schaumburg 111. Both outlets a each located within a Disney store a will close tuesday. But the stores will remain open. Burke noted that some other new Disney stores will include other experiments such As a travel Center and an Art boutique. A we did the mickeys kitchens As a test a he said. A it was basically a break even operation and we tend to move into areas that Are profitable for  the Disney stores have been among the nations top retail performers even during the recession Disney executives have said. Sales Are in the Range of about $650 per Square foot annually far above the National average. The first store was opened five years ago in Glendale Calif. No frills retailer finds recession no obstacle to stores Success by Phil West the associated press Nashville Tenn. A learning the secrets of Success is As simple As understanding the difference Between a mule and a Man Dollar general founder . Turner once observed. A a mules smarter than a Man a Turner said. A a he la always return to his stall. But a Man thinks he can go on to other  forgetting the urge to wander a just concentrating on the everyday a has proved fruitful for Turners 23-state Empire of Low end retail stores. While most retailers grappled with the recession Dollar general corp. Was ringing up a record $754.4 million in sales in the fiscal year that ended Jan. 31, up 16 percent. Yearly profits Rose a whopping 47 percent to $21.5 million. A a we re staying in our stalls thank you a said company chairman Cal Turner jr., grandson of the founder. The no frills retailer Sells items such As toothpaste toilet paper and laundry detergent stacked on simple shelves or into bins at its 1,535 stores. The most expensive item is Winter Coats a about $35. Dollar general targets a narrowly defined Market its average customer is a working class 25 to 45-year-old woman earning less than $25,000 a year. A we consider ourselves to have lower income customers than anybody else in the business a said Turner 52. That Means a your customers Are the smartest shoppers in the  Dollar general does not Honor credit cards and accepts checks for Only the amount of Purchase. Most stores Are located not in cities but towns with 12,000 to 15,000 people. It does offer some of the cheapest items around. Simple signs lure customers into stores that May offer levies jeans for As Low As $15. Four pairs of menus tube socks sell for $3. Bath towels Are three for $5, and three Rolls of paper towels Cost $1. All items Are sold in even Dollar amounts. Amp .4 in it so Cal Turner jr., chairman of Dollar general corp., says his lower income customers a Are the smartest shoppers in the  a the even Dollar has zing with the customer a Turner said. A it has operating  simplicity is the key to the Chain that began 52 years ago with the slogan a nothing Over $1.�?� . Turner had spent 10 years on the Road As a wholesale grocery Salesman before he and his son Cal Turner sr., put up $5,000 each to found . Turner and son wholesale. The company evolved by 1955 into Dollar general and went Public in 1968. Its Stock traded Over the counter has recently sold for about $26, up from $10 at this time last year. Simplicity is still its trademark. A a it a nothing but remembering what my father and Grandfather had been taught in the Hills of Tennessee and Kentucky a Turner said. A first be in Stock with the fundamental living requirements then add other  a other things Quot a which done to sell Well with the retailers customers a include Contact Lens solutions and automatic dishwasher detergent. Company sales figures show Dollar general customers Don t Wear Contact lenses and they Wash their dishes by hand. They do use motor Oil that Sells for 75 cents a quart. A some of our customers use More Oil than Gas in their cars a Turner said. Turner also believes the recession drove some customers to his no frills stores. A your customers have been in recession for some time a he said. Quot Itie Middle class is just now feeling  Louisiana abortion Law causing loss of business new Orleans up a the Louisiana Legislatures passage of one of the nations toughest anti abortion Laws has resulted in the cancellation of 17 conventions in new Orleans representing $116 million in lost business convention officials say. The greater new Orleans tourist amp convention commission said the latest group to cancel was the endocrine society whose members voted 2-to-l to move their meeting elsewhere because of the state Law Banning almost All abortions in Louisiana. The endocrine society meeting was expected to draw 5,000 delegates to new Orleans in june 1994, generating an economic Impact of $4.32 million. The 1991 abortion Law designed As a constitutional test of the . Supreme courts Roe is. Wade decision forbids All abortions except those to save a woman a life or terminate a rape or incest induced pregnancy. The state Law has not taken effect yet because of a court Challenge. Fines of up to $100,000 and prison terms of up to 10 years could be imposed on Louisiana physicians convicted of performing illegal abortions. Many of the groups pulling out of new Orleans Are affiliated with the medical Field. One of the largest was the society for neuroscience which scrubbed planned meetings in 1996, 1999, 2002 and 2005, each with 15,000 expected to attend for a total loss of some $52 million. Convention officials said about 30 other groups scheduled to hold meetings in new Orleans have alerted them about concerns Over the anti abortion Law and May also decide to move their meetings away from new Orleans. Business Lockheed unit plans to Cut 1,000 additional jobs this year from wire reports Sunnyvale Calif. A defense cutbacks have forced Lockheed missiles amp space co. To increase its estimate of the number of jobs it will Cut this year from 400 to 1,400. The company a division of Lockheed corp., plans to Lay off 400 people and eliminate 1,000 jobs through attrition according to a memo the divisions president John Mcmahon sent to employees. The division employs 24,360 people nationwide. It already has eliminated 587 jobs including 156 layoffs since the year began Mcmahon wrote. Kim adding european flights Royal dutch Ltoya nth i a 25 per Amsterdam Netherlands Kim airlines plans to boost its profile in Europe wit cent increase in flights there. The expansion is part of the dutch Flag carriers three year Campaign to boost its 4 percent share in the european Market to 20 percent. The expansion will go into effect this summer with increased flights to Berlin Frankfurt and Munich Germany Copenhagen Denmark Madrid Spain Milan Italy Vienna Austria and Stavanger Norway. The total number of Kim european round trip flights will Rise from 800 to 1,000 per week. Campbell heats up dividends Camden . A Campbell soup co. Has announced an 11.4 percent increase in quarterly dividends. A dividend of l9yi cents per share will be paid on april 30, said David w. Johnson the company a president and chief executive officer. The company has 125 million outstanding shares