European Stars and Stripes (Newspaper) - November 8, 1992, Darmstadt, Hesse                                Sunday november 8, 1992  watch shown below Are tha highest Dollar Exchange rates for the week of nov. 1-7 compared with Dollar rates for the same period one year and five years ago. German Mark one Dollar would buy you 1.54 1.� 173 jmj i i Jet re Milmary Chang rat British Pound one Pound would Cost you 1.60 1.74 1.78 1661 l a Jujj belgian franc one Dollar would buy you 35.52 34.67 36.43jffij Msj Msj dutch Guilder one Dollar would buy you 1.72 189 194 jmj Ujj Jim a Jtj French franc one Dollar would buy you 5 35 5.75 5.54 Jwj greek drachma one Dollar would buy you 197.06 188.96 a 134.21 1967 i italian lira one Dollar would buy you 1.351 1,258 1,267 Jsse Assli Spanish peseta one Dollar would buy you 112.74oe.09 11500 1992 i 1991 i a a Mhz we Sam 1997 turkish lira one Dollar would buy you 7977 4,921 1992 1991 i Money matters the stars and stripes Page 17 Etc counters army opposes merger of ammunition firms by Steven pearlste1n the Washington Post Washington ignoring the Pentagon a advice the Federal Trade commission moved Friday to Block a merger of the two remaining suppliers of army tank am munition in a Case that could help determine How the defense Industry shrinks in response to declining military budgets. The Etc asked . District court judge Louis Oberdorfer in Washington to prohibit the Sale of Olin  ordnance division in St. Petersburg fla., to its Only rival in the tank round business Valliant tech systems inc. Of Minnesota. The commission voted thursday that the $130 million merger would reduce Competition substantially and give Valliant Quot monopoly Power to charge the army higher prices for its ammunition. The army and its two suppliers had argued that there was enough business to support Only one supplier and that forcing two suppliers to remain in operation would increase Cost to the taxpayer. A the army is disappointed with the Etc action said a spokesman who added that the merger was consistent with the army a tank munition needs. The Olin Valliant Case is in the first wave of what Many Industry executives expect will be a flood of mergers and acquisitions in the defense Industry As the Pentagon halves its procurement budget by the end of the decade. The defense Industry along with a number of lawyers and economists have argued that it is Folly to apply traditional antitrust criteria to such transactions because the Pentagon is the Only customer for most defense products. Stephen conver the army a acquisition chief told an Industry group last week that Etc guidelines should be changed to make it easier for defense firms to merge and the defense Industry to shrink. In his speech conver cited a recent study by James Blackwell of the Center for strategic and International studies that concluded that a a american a antiquated antitrust enforcement system May Well prevent a National Market driven transition in the defense Industry while sticking the taxpayers with a huge Bill for maintaining an inefficient defense Industrial  Blackwell relied on studies by the Pentagon inspector general that found that when a supplier was forced to split its Pentagon business with a second supplier to ensure Price Competition the result was an Overall increase in the Cost to the government. Etc lawyers have countered that antitrust Law makes no exception for defense contractors or companies in any shrinking Industry. In the Olin Valliant Case the Etc contends that if there is Only enough business now for one supplier of tank munitions the army should set up a Winner take All Competition that would let the sole survivor be determined by open Competition. A the Issue is not whether there is Only room for one supplier a said Mary Lou Steptoe acting director of the it cd a Bureau of Competition. A the Issue is How you get there and our View is that competitive by. Bidding not a privately negotiated merger is the Way that Best benefits the  r to a recent to suppliers the army by the . The Etc position is similar to a recent Case involving the merger of two suppliers of night vision equipment to which was upheld on Appeal District court in Washington. Much of this debate centers on the question of How the Pentagon can assure itself the Best Price for its weapons. The it cd a critics Point to the Pentagon a extensive procurement regulations which limit prices to a contractors actual costs plus a modest profit. Wall Street uneasy after Clinton s win new York up there was no big Celebration at Wall Street last week when democratic contender Bill Clinton won the presidential election. After weeks of anticipation pro Republican Wall Street had what one analyst called a a subdued reaction to Clinton a Victory. Instead of feeling relieved that the political uncertainty had dissipated after the election Wall Street now faced worries about Clinton a economic plans. For the week the Dow Jones Industrial average a which added 0.58 percent or 18.64 Points to 3226.28 a week earlier a tacked on 0.43 percent or 13.78 Points to 3240.06 for a four week winning Streak. A a it a finally coming Down to the nitty Gritty a said Trude Latimer vice president and chief Market strategist at Wayne Grayson capital corp. A a there a a lot of what we need to know such As Clinton a specific stand regarding corporate America. We re in for a terrible Pend when we have an inexperienced president a she said. A a there a no buying interest at this Point a said . Moore investment strategist at Argus investment management in Santa Barbara Calif. A a there a some degree of assessment to be made of what Impact Clinton s policy May have on the credit and Stock markets. We would encourage investors to move to the sidelines and take a cautious approach a he said. A we spent a greater part of october preparing for a Clinton Victory. But when he won the Market had a subdued reaction a said Hugh Johnson head of the investment policy committee at first Albany corp. In Albany n. Y. A the euphoria of a Clinton Victory hit the Wall of economic reality on wednesday morning a he added. A we have problems in our Trade relations. We have a budget deficit. We have softer and anaemic economic recovery. Its not going to be smooth  the broader new York Stock Exchange composite Index eased 0.48 to 230.w, while Standard amp poor a 500 Index Slid 1.10 to 417.58. Advances edged declines 1,095-1,085 among the 2,531 issues traded. Weekly big Board volume totalled 1,029,322,230 shares up from 995,834,247 traded a week earlier and from 876,781,840 in the same week a year ago. New York Exchange new York up York Stock Etc magi Start Merck t co inc ats company Pach com general motor in corp a corp Wab Annc Rwjr Nabisco hid  Ptiip Morris tandem computer Compaq computer Johnson a Johnsn Wensung Housel blockbuster ent a the is most Active stocks in new composite trading on Friday. Natan off a pvt of off up up Ucb up i Oil i Folh putt up m up a off a pvt 3.047.000 2.916.900 2.707.400 2.666.400 2.642.300 2,379,700 2.264.300 2.169.900 2.164.000 2.141.000 1.879.000 1.447.200 1.390.200 1.372.200 1,365,600 42 i 44 i 19 i 30 i 66 a 17 i 18 9 52 v. 78 14 i 42 i 49 i 13 15 i american Exchange new York american Stock Start Hwhalen corp Usbie Vacienca Echo Bay mines  tax com sulcus Conw Uter res Urgena comm Epp Polnic Para corp Hasbro inc a the 10 most Active stocks in Hanga composite trading Friday. 1,045,100 572,400 398,900 352.200 342.200 331,000 314.200 295,500 256,600 254,100 last 3 8 i 5 i 19-16 31 i 9 21 h 23 i 20 i 32 m Natch. Up i up i off i on to up up i i i up 1 up i on i up Dow Jones 1 new York up a Dow Jones closing Range of averages Friday a Law Claes change 3216.82 3240.06 003.76 20 transport 1395.42 1372.05 1366.96 up 6.65 is utilities 218.89 215.69 2 7.51 up 0.75 65 stocks 1181.66 1163.75 1173 52 up 1.63 grocery Chain Stock drops after to probes amps Salisbury . Up Stock in the supermarket Chain food lion inc. Lost More than 10 percent of its value Friday following a negative report on abcs primetime live depicting unsanitary conditions at its stores. Despite vehement denials by the company food Uon class a Stock was the most Active Issue in Over the counter trading and lost $1 to $8.25 a share. A food lion stands behind our stringent policies and procedures and believes  has created news not reported news a the company said. A but food lion takes each of these allegations very seriously and is promptly and thoroughly reviewing each and every  the company which has annual revenues of about $6.5 billion said it will establish More stringent periodic testing of employees to ensure Complete understanding of All policies and procedures the to program alleged that food lion sold outdated meat and fish at full Price that employees altered the smell and appearance or meat and fish with Lemon juice and baking soda that expired prepackaged products were re wrapped and related that Nail polish remover was used to remove manufacturers dates and that outdated ground beef and other meat products were ground together with fresh beef. Abc also alleged that food Uon salads were placed on Deli counters for weeks after the expiration Date that outdated Chicken was used in Deli cooked Chicken items that employees were Given insufficient time to perform tasks that meat saws were not broken Down cleaned and sanitized that Deli department floors were Greasy and bakery pans left unwashed and that food Uon had Advance notice of state inspections. Food Uon said most of the sources for the Story were supplied by the United food and commercial workers Union. The a few responded by saying a contrary to food Uon i paranoia the of cwt a involvement with  news concerning food Uon was no different than our involvement with any of the other news organizations that requested our assistance in investigating the Many facets of food lion s dysfunctional corporate