European Stars and Stripes (Newspaper) - November 9, 1992, Darmstadt, Hesse                                Monday november 9, 1992 i Money matters the stars and stripes a Page 17�?i today s hates i following Are fixed rates at which Community banking and credit Union facilities will sell for eign currencies to . Personnel for personal use German Mark.1.55 British Pound.1.58 dutch qullder.1.74 greek drachma epee Yeeee 198.1463 not the mat Abov apply Wahto tha Host country. Figural Ara apr Aazaad to dollars to tha British Pound Othar cur Randat to tha Dollar following Are Interbank rates that fluctuate and should be regarded As the approximate value of the . Dollar to foreign Curren pics italian lira.1,359.00 turkish lira .8,045.10 Spanish peseta.113.42 portuguese escudo 141.71 austrian Schilling. 11.151 saudi rial .3.7495 Bahrain dinar.0.37675 Kuwait Dinar .0.2974 norwegian Krone.6.455 danish Krone. 6.051 British Pound.1.5375 German Mark. 1.589 Swiss franc.1.4275 French franc. 5.366 dutch Guilder .1.793 belgian franc.32.66 Canadian Dollar. 1.2520 Noto figural an Asp Naiad to dollars to tha British Pound Othar our Randal to tha Dollar old quota s33s.7s an Tunoa Suvar quota 13.92 an ounce Las riot torn areas still wait for promised influx of Cash jobs by the los Angeles times los Angeles after the Spring fires died out in South los Angeles Hope surged that a Stream of investment Money would. Anally begin to flow into the inner City to nurture a Renaissance of businesses and jobs. Indeed it seemed As if news conferences were being held on a weekly basis by groups of Well tailored executives both Black and White announcing the creation of this fund or that program to come up with millions of dollars in new capital. But despite All the enthusiasm and promises of help six months later there a no new Money few new businesses and no upsurge of new jobs. What happened to All those funds those promised millions a what i Call them is ghost funds because they re supposed to be there but nobody a seen them a said Lynne Joy Rogers newly appointed executive director of the Crenshaw area neighbourhood Opportunity Center a federally funded Center for business and economic development. Good intentions it turns out collided with harsh economic realities after the riots. Well meaning reformers have come face to face with the same difficulties that have hampered economic development since Long before flames Arst seared South los Angeles in 1965. Quot there a not Many private capital sources out there a said los Angeles Deputy mayor Linda Griego. Quot and Money a Tough  notwithstanding the Calls from ethnic leaders for More Community ownership it also is becoming Clear that the magnitude of economic problems in the inner City far outstrip the reach of the investment funds contemplated so Farno matter How successful they prove. A consultant to rebuild . Has estimated it will take an investment of $6 billion and the creation of 75,000 to 94,000 jobs to revitalize depressed and riot torn parts of los Angeles. No one has a Good measure of How much new capital is available but most observers agree that it will fall far Short of what is required to rebuild the Community even if All the proposed funds reach their stated goals. Instead Community leaders say Only significant government help can provide the needed boost Quot to economic development a help that so far has not materialized. Last Spring Community and business leaders were calling for massive investments in the inner City in the form of equity and new Loans. The Call was intended to address one of the areas most nagging problems a the Lack of capital and traditional Bank financing for minority entrepreneurs. Several groups came Forward with grand plans for multimillion Dollar capital funds both Public and private. Separately corporations pledged millions of dollars to help rebuild the City a Money intended for a wide variety of Relief Job training construction social services and other uses. Critics argue that much of this initial flurry of announcements was hype. And they worry that some of the capital funds even if they raise Money might choose to sink it into businesses outside the riot torn areas. Crazy cars the experimental Rotor Bug left Rolls along at the annual idea olympics in Toyota parking feature. 1 , which propels itself on basketball cushioned rotors won the Japan on saturday. At right another car raises its front wheels to demonstrate a self Silver medal in the contest sponsored by the Toyota motor  plans to Cut 8,000 jobs in 4 years Atlanta up Bel South corp., which operates Telephone companies serving nine Southeastern states said it expects to trim about 8,000 jobs from its 83,000-employee telecommunications division during the next four years. Scott Ticer a Bel South spokesman said the reductions would come through Normal attrition. The company also plans to merge the Headquarters staff of its Bel South enterprises business unit with its corporate staff beginning Early next year. Already identified for elimination Over the next six to 24 months Are some 825 jobs in the company a comptrollers organization and about 150 involved in economic analysis and forecasting in the nine states. He said no Universal Early retire ment offers Are planned for managers. Instead individual retirement offers will be made to managers As needed. The telecommunications company also said that the prospective merger of its Headquarters staff will result in work Force reductions and that certain centralized functions will be transferred to specific business units. A these latest moves Are a part of our ongoing Effort to maintain our competitive position in the rapidly changing marketplace while continuing to provide our customers Quality service Bell South a chairman John l. Clendenin said in a statement. Bel South is an International telecommunications holding company with subsidiaries that offer local Telephone service and Mobile communications services  Down Cycle forces Schwinn layoffs Chicago apr financially troubled Schwinn bicycle co. Announced that it will Lay off 160 employees half its . Work Force Between now and february the company filed for Protection from creditors under chapter u of the Federal bankruptcy code last month citing a huge debt and sluggish sales Schwinn is scheduled to appear in court today to ask the judge to approve Severance packages for the workers said spokesman Doug Kramer. Sixty jobs will be eliminated at the company a corporate Headquarters in Chicago he said. Schwinn a distribution Center in the los Angeles area will be closed putting 36 people out of work. The remaining layoffs will come from the company a two other distribution centers in suburban West Chicago and in the Newark n.j., area. Most of Schwinn s bicycles Are built in Asia where labor is cheaper and suppliers Are located. Its Only . Bike making Plant in Waterford wis., is not affected by fridays announcement. Quot while we deeply regret the necessity of this action the reorganization process demands that we re evaluate our corporate Structure and make productive changes a said Edward Schwinn company president and chief executive. The layoffs were expected said tory Roher publisher of the Trade publication bicycle dealer showcase in Culver City Calif. Schwinn a major competitors already operate with fewer than 150 workers in similar jobs he said. Bill Wilkinson of the bicycle Institute of America in Washington said Schwinn a competitors Are a a rooting for the company to emerge from bankruptcy court and survive