European Stars and Stripes (Newspaper) - November 11, 1992, Darmstadt, Hesse                                Wednesday november 11, 1992 Money matters the stars and stripes i Page 17 today a rates following Are fixed rates at which Community banking and credit Union facilities will sell foreign currencies to . Personnel for personal use German mark.1.56 by Tylah Pound .1.55 dutch gulldtr.1.75 greek drachma .199.4146 note the rates above apply within the Host country. Figures Are expressed in dollars to the British Pound other currencies to the Dollar following Are Interbank rates that fluctuate and should be regarded As the approximate value of the . Dollar to foreign currencies italian lira .1,368.00 Turkla lira.8,096.90 Span Lah paaata.114.18 Portu guava Acudo 142.12 aunt plan schilling.11.2375 saudi rial.3.7495 Bahrain dinar.0.37675 Kuwait dinar.0.298 Norw Aglan krona.6.504 Danalah krona.6.12 British Pound.1.5135 garmanmark.1.597 Salaa franc.1.4405 franch franc. 5.3975 dutch guilder.1.7975 belgian franc.32.86 Canadian Dollar.1.2639 note figures Are expressed in dollars to the British Pound other currencies to the Dollar Gold quote $330.50 an ounce Silver quote $3.72 an ounce new York Exchange j new York up a the 15 most Active stocks in new York Stock Exchange composite trading on monday. Stock spies Lett not chg. Storage techno 4,784,700 23 off 8 Pacific Orp 2.520,500 18 off Walt Disney co 2,297,900 40 up Merck amp co inc 2,281,400 42 unch at amp to company 2,217,700 44 off ism corp 2.216.300 67 up 1% general motors 2,131,200 30 up Tel Fonos de my 1,787,200 53 up Philip Morris 1,575,000 77 off 1 diag Ostek inc 1,556,700 9 off 6 Citicorp 1,505,200 17 up Exxon corp 1,374,800 58 up first Bank sys 1,280,000 25 off Rwjr Nabisco hid 1,175,400 9 unch Chrysler corp 1,123,900 26 off v american Exchange j new York up a the 10 most Active stocks in american Stock Exchange composite trading monday. Stock sales last net chg. Sulcus computer 562,300 9 up expo rate co la 528,000 1 9-16 unch us Bio science 469.500 9 up Iva corp 413,800 32 up Echo Bay mines 365,800 5 off Cheyenne softer 327,500 29 up Jan Bell a actg 290,600 20 up Hasbro inc 283.700 32 up Horn amp hardart 280,300 2 off resurgent comm 271,500 23 up 2 l Dow Jones new York up a Dow Jones closing Range of averages monday High Low close change 30 industrials 3268.69 3220.33 3240.87 up 0,81 20 transport 1401.06 1378.90 1387.36 unch 15 utilities 218.20 215.01 216.20 off 1.31 65 stocks 1183.34 1165.49 1172.68 off 094chevron plans to Cut 1.500 More jobs by the new York times san Francisco Chevron corp. Said monday it would Cut an additional 1.500 jobs half of which were vacant be cause of an Early retirement program it offered employees this year. The company based in san Francisco will trim 1,000 of its 3,500 Headquarters personnel and 500 from its Chevron information technology unit. This is the fourth time this year that Chevron has announced Job cuts. Chevron employed More than 54,000 people at the end of last year and plans to be Down to 50,000 at the end of this year. Tel Edyne pleads guilty pays $17.5 million for faking tests los Angeles a Tel Edyne industries inc. Paid a record $17.5 million Fine for faking tests on electrical switches used in virtually All . Weapons and spacecraft including the shuttle. Tel Edyne pleaded guilty to 35 criminal counts. The company faces a related Federal false claims act lawsuit seeking nearly $1 billion. A separate lawsuit accuses the military contractor of illegal influence peddling in Egypt. The Fine was the largest Ever imposed for military fraud . Attorney Ter rec a. Bowers said. In 1990, Northrop corp. Was fined $17 million for falsifying records for the cruise missile and harrier Jet. The largest military fraud lawsuit settlement was in 1988, when Sundstrand corp. Paid $115 million for overfilling. The Tel Edyne fraud came at its relays division in suburban Hawthorne. The los Angeles based company immediately Gaia the Fine after sentencing by . District judge Terry Hatter Bowers said. Investigators said the switches had not been implicated in any flight failures. The switches control the flow of electricity in such equipment As the shuttle Patriot missile guidance systems and satellite launching devices. Telc sync has sold millions since 1984. Tel Edyne still faces a related $250 million lawsuit filed under a Federal Law that lets whistle blowers sue on behalf of the government and share any Money awarded. The damages could be tripled if the plaintiffs win. No trial Date has been set. Such cases can take years to resolve. Another whistle Blower lawsuit filed in july accuses Tel Edyne of hiring a former egyptian air Force general to Ouy influence in Egypt never reporting to . Officials that it had hired a foreign agent. That lawsuit says Teledu no shifted $35 million in costs for Egypt bound electronic equipment to Pentagon contracts. It says Teledu new a electronics division separate from the relays operation falsified tests and inflated charges on the gear sold in Egypt. The Legal cases have prompted a lawsuit by shareholders against tale Dyne a officers and directors. Its Stock which traded As High As $28.75 a share in the past year closed monday at $17.50 a share up 1214 cents. Tel Dyne relays division has been suspended from government contracting. Tel Dyne called the suspension a part of a regrettable and embarrassing situation resulting from conduct contrary to the corporations code of  Thomas l. Mcdowell former vice president of the relays business has pleaded guilty to two counts of falsifying tests. He is scheduled to be sentenced Jan. 4, and faces up to 10 years in prison and a $500,000 Fine. Hoping for leniency he has agreed to cooperate with the Justice department. Julie Fox Blackshaw and Bryan d. Daly the Federal prosecutors on the Case said Tel Dyne acknowledged that it a concealed Many test failures and customer returns of failed relays while certifying to the government that All such failures were being reported. A failed to perform required tests then certified the tests were done. A in some cases in which relays failed tests simply repeated the tests until passing results were obtained or fraudulently created test records showing passing scores. End of the Road nears pm soon will name 4 More plants to close by the new York times Detroit for John f. Jack Smith jr., the new chief executive of general motors corp., the hard part is just beginning. By years end pm has said it will name four More Assembly plants to be closed As part of its strategy to Cut its excess capacity. The four plants will be in addition to the pm minivan Plant in North Tarry town n.y., and Willow run in Ypsilanti Mich., where full size rear wheel drive cars Are built. Those plants were named earlier in the year when pm announced 12 of 21 Assembly and parts factories it planned to close. Those followed pm closing announcements affecting factories like those in Scarborough Ontario and the West Plant in Pontiac Mich. Predicting plants Likely to close has grown increasingly difficult Industry experts said As the company has shifted production of models in a Way that eliminates some options. A one must question How serious pm is about closing facilities a said Clifford j. Swenson manager of production forecasting for Jacobs automotive a consulting firm in Little Falls . A they have not been Overly  pm officials and the United Auto workers Union would not comment. But Swenson pinpointed three plants with the greatest risk of eing closed a one of the two plants in Oshawa Ontario that build midsize cars like the Chevrolet Lumina. A one of three plants that build full size pickup trucks a in Oshawa fort Wayne ind. And the East Plant in Pontiac. A and a Detroit Plant that builds truck and motor Home Chassis. Beyond those three however a Surprise seems to be in store perhaps on the order of the news in february when pm Smith said it would close its Only Plant that makes minivans and instead build a new version at a Plant in Doraville a. The Surprise May be that pm will have to drop Well known models. It Laboured Over consolidating its rear wheel drive car production in Arlington Texas or Ypsilanti before Arlington won out. But some Everts question whether pm should continue to build the Large sedans at All. Maryann n. Keller an analyst at Furman Selz in new York said the Large Chevrolet Caprice and Buick Road Mas Ter models were not making Money for pm because Many were sold to fleets with Little or no profit. To complicate things pm seems to have eliminated some alternatives. The company once had the option of consolidating production of Large front drive cars from three plants to two. The ones to stay open under that move Swenson had predicted would be Flint Mich., and Wentzville mo., while the Plant in Orion township Mich., would close. But pm has said it will shift Oldsmobile 88 production to Orion. Slow sales Force Saab to slash work Force Stockholm Sweden a in a Sharp departure from Sweden a worker Friendly society Saab automobiles will fire nearly a fifth of its workers and Cut production to respond to the country a severe recession. A we Are losing More than $1 million a Day a Saab automobiles president Keith Butler wheelhouse said monday. He said Saab would fire 1,980 employees or is percent of its worldwide work Force of 11,000 people. Company officials said they also intend to reduce the time Saab takes to build a car to 40 hours by 1994. It now takes 57 hours. Saab a announcement followed a similar one by Volvo which plans to close two factories and fire 4,500 workers in its car truck Marine engine and Headquarters divisions Over the next two years. A we cannot produce More cars than we can sell a Volvo president Lennart Jeansson said last wednesday. The swedish automakers have been reducing their work forces for two years trying to Cut costs in a society where Well paid workers Are guaranteed 23 Days of vacation a year plus generous sick leave. The system has Given Sweden the highest Absentee rate in Western Europe. Even their reputation for making top of the line cars that can endure Savage stand Nivian Winters Hasni to kept Saab and Volvo profitable in the global recession that has hit Sweden s exporters hard. In the biggest markets for Volvo and Saab the United states Britain and Sweden a total sales fell to fewer than 10 million vehicles this year from 13 million in 1988. Saab a total sales grew by 7 percent in the first nine months of the year to 66,800 cars but the company had to Stop production for five Days last month because it had More cars than it could sell. And despite the higher sales Saab still lost Money because of a weak . Dollar the world recession and the Low productivity of its autoworkers Butler wheel House said. Butler wheelhouse a South african came to Saab automobiles from general motors corp., which in 1990 bought a 50 percent stake in the automaker. He said he would not recommend that pm which has suffered massive losses in the United states pour More Money into its swedish operation. A getting a return on what they be already got in Here is going to be difficult Over a Long period of time Quot Butler wheelhouse said. �?o1 think we be got to prove we be got a business that a going to be viable Over the Long