European Stars and Stripes (Newspaper) - April 26, 1992, Darmstadt, Hesse                                Sunday april 26, 1992 the stars and stripes a Page 17 Dollar watch shown below Are the highest Dollar Exchange rates for the week of april 20 april 25 compared with Dollar rates for the same period one year and five years ago. German Mark one Dollar would buy you Money matters 1.621.71 my x v v a c 41.81 to military Exchange rate British Pound one Pound would Cost you1.75 1.69 k w 34.16 belgian franc one Dollar would buy you 37.88 36.09 $ 1.88 dutch Guilder one Dollar would buy you 1.98 2.06 j9gj a fish 1987 French franc one Dollar would buy you 5.64 1993s 5.94 a it it Ltd greek drachma one Dollar would buy you 194.84 1< 133.9 italian lira one Dollar would buy you 1,254.5 1,300.2 1,298.2 a a. . It a j33lj 1987 Spanish peseta one Dollar would buy you 127.82 104.51 108.45 1987 turkish lira one Dollar would buy you 6,509.450 general motors restructures May Cut number of models Detroit a general motors  new management team plans to make one of the largest Stock offerings Ever and consolidate car and truck making operations to help make the no. 1 automaker profitable again. Pm executives announced the reorganization Friday in a video teleconference for the company a 370,000 North american employees. Pm president John f. Smith or. Said All North american car making operations would be combined into one unit and All truck making operations into another a move expected to pare Gmys Many Model lines. Pm chairman Robert c. Stempel did no to specify car models or lines that might be eliminated. But the announcement As Well As executive appointments made Friday appeared to be a prelude to the elimination of waste and duplicate models. Pm also said it plans to offer 30 million shares of additional common Stock a move that could raise about $2.1 billion. Gmys existing Stock dropped $2.75 a share to $39.62vt in new York Stock Exchange trading after the announcement. The company has 630 million shares outstanding. Stempel said e. Michael Mutchler vice president of Chevrolet Pontiac pm of Canada would oversee a combining of that group and the Buick Oldsmobile Cadillac group. Both were created in 1984 As part of Gmys last major reorganization. Fridays announcement was Gmys latest Effort to turn the business around. Semi announced in Cember that pm would close 21 North american plants and Cut 74,000 jobs by 1995. Mutchler Gmys North american operation lost about $7 billion in 1991, while pm As a whole lost $4.5 billion. The continued losses in North America prompted the pm Board to strip Stempel of some of his responsibilities and demote then president Lloyd e. Reuss and then Chiet financial officer Robert t. Of Connell earlier this month. Part of Gmys problem has been the sheer number of cars it produces Many of them appealing to the same Market segment. The Chevrolet division for example has 10 different passenger models competing for Many of the same customers As the Oldsmobile Buick and Pontiac divisions. In the 1950s and �?T60s, when pm controlled 50 percent of the North american Market Competition among its divisions was healthy. But japanese automakers now control More than 30 percent of the North american car Market. Gmys Market share in the past decade has fallen to about 35 percent from 45 percent. Gmys Saturn Small car subsidiary created to take on the japanese automakers also has sapped sales from other pm divisions. Boeing warns 1,200 workers of layoffs Seattle a the Boeing co. Told More than 1,200 of its workers on Friday that they could be Laid off in two weeks the largest group of employees to be let go by the aerospace giant so far this year. The workers were among 2,400 employees who were first informed they might be Laid off in notices issued March 6. The company a notice Friday was More specific on the timing and number of layoffs. The exact number who will lose their jobs May 8 Isnit certain but it will be less than 1,200, Boeing spokesman Paul Binder said because some Are expected to be fun need into jobs elsewhere within the company. Nonetheless David Cartwright Boe Inge a corporate work Force director said a it looks like May 8 will probably be our biggest Layoff of the  Binder said 14-Day Layoff notices were issued to 1,185 workers in the puget sound area and 25 to workers in California and Oregon. Binder said he could not provide a breakdown by division of where the Layoff notices were delivered. The notices Are part of Boeing a plan announced earlier this year to trim its puget sound area work Force by 6,500 jobs during 1992. Boeing the regions largest private pm a a the 107,000 work More company officials have said the Job reductions Are the result of cuts in Federal military contracts particularly in missile programs and a slump in the airline Industry. In the past six months the company has issued 60-Day Layoff warning notices As required by Federal Law to 7,645 workers including 5,800 in puget sound plants. Ployer began the year with 107,000 work ers in its puget sound plants and More than 156,000 worldwide. But just 854 workers including 327 locally actually lost their jobs. Many of the others notified were transferred to jobs elsewhere in the company. Some Union officials said they Are puzzled Over Why the company is issuing Pink slips at a time when it appears to be doing Well financially. A amps earnings reports prompt bumpy ride for Wall Street new York up a Wall Street had a roller coaster ride last week going Down one Day and going up the next. The ride reflected the Stock markets response to the flow of first Quarter earnings reports rewarding the Good performers and punishing ones that failed to meet expectations. A the Market is. Responding to earnings reports which basically have been positive with a few bombs a said Gail Dudack Market analyst with . Warburg amp co. Hugh Johnson head of the investment policy committee at first Albany corp. In Albany n.y., said the markets mixed performance a reflected the virtual tie Between the earnings that were More than expected and those that were less than  he added a i expect the Market to just Drift from one Stock to another depending on the the earnings  Don r. Hays director of investment strategy at wheat first Butcher amp Singer in Richmond va., described trading As a very fragmented with some of the recent Darling stocks getting hit and those that got hit recently Are doing a  for the week the Dow Jones Industrial average fell 1.25 percent or 42.04 Points. Among the Broad Market indexes the new York Stock Exchange composite Index Slid 3.78 to end the week at 225.12. The Standard amp poor a 500 Index dropped 7.03 to 409.02. Declining issues outnumbered advances 1,220-840 among the 2,351 issues traded. Weekly big Board volume totalled 1,061,108,660 shares up from 835,384,290 traded a week earlier and up from 817,255,640 in the same week a year ago. On the trading floor last week Citicorp topped the big Board actives rising 2v to 18v4 As the banking sector reported positive first Quarter earnings. Glaxo holdings followed falling \ i to 25-v4 As the drug sector came under Selling pressure. On the american Stock Exchange the amex Market value Index eased 0.28 to close Friday at 385.98, losing 6.66 Points for the week. Declines topped advances 520-336 among the 1,042 issues traded for the week. Business coca cola to Market Power de sports drink from wire reports Birmingham Ala. A coca cola said Friday it will begin Selling a non carbonated sports drink next month designed to compete with gatorade and similar products. Power de will go on shelves first in Birmingham Chattanooga Tenn. And Augusta and Savannah a. It will be available in bottles of 20, 32 and 64 ounces plus cans for vending machines. Luke Cranford president of coca Colas Central Region said sports drinks Are a one of the few soft drink areas coca cola has not been involved in until  Pierre u. Ferrari senior vice president of coca cola Usa said Power de has been chosen As the official drink of the 1992 summer olympic games in Barcelona Spain and of the world league of american football which has a team in Birmingham. The drink is designed to replace body fluids lost during physical exertion. It comes in Lemon line Orange and fruit punch flavors. 2 More Banks shut Down Boston a state and Federal regulators shut Down two More Massachusetts Banks Friday bringing to six the number of insolvent lenders to be closed since the beginning of the year. The failure of the South state savings Bank of Brockton and the Shore Bank and Trust in Lynn tied Massachusetts with California for the most Bank closings in the nation in the first four months of 1992, the Federal Deposit insurance corp. Said