European Stars and Stripes (Newspaper) - December 7, 1992, Darmstadt, Hesse                                Monday december 7, 1992j Money matters the stars and stripes a Page 17today s rates following Are fixed rates at which Community banking and credit Union facilities will sell foreign currencies to . Personnel for personal use German mark.1.54 British Pound.1.61 dutch guilder.1.73 greek  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 .1,389.50 turkish lira .8,251.40 Spanish peseta.113.71 portuguese escudo.140.70 austrian schilling.11.101 saudi rial. 3.7495 Bahrain dinar.0.37675 Kuwait dinar.0.29915 norwegian krone.6.444 danish krone.6.122 British Pound.1.56 German mark.1.5935 Swiss franc. 1.4295 French franc.5.365 dutch guilder.1.793 belgian franc. 32.75 Canadian Dollar. 1.2779 note figures Are expressed in dollars to the British Pound other currencies to the Dollar Gold quote $335.75 an ounce Silver quote $3.77 an ounce democrats jockey for positions with Clinton s economic Tea american express chief executive to leave in 93 new York a James d. Robinson Iii will step Down As chief executive officer of american express As soon As a successor is found sometime next year a company spokesman said saturday. Robinson ceo for 15 years will remain on the 19-member american express Board said Mike of Neill a spokesman and vice president of american express. Of Neill was responding to a Fortune Magazine report to be published in wednesdays Issue that said Robinson 57, was a a compelled to develop a succession plan by outside directors. A this is not a coup a of Neill said. A Fortune is giving this a tone of imminence. Jim has initiated this and he said simply that when his successor is found sometime next year he will step  american express Board member Frank p. Popoff ceo of Dow chemical issued a statement saying the change Wasny to the result of a Power play. A this is a orderly succession process initiated and led by Jim a Popoff said. A to characterize it in any other Way is totally inaccurate. It is intended to ensure the very Best in future leadership for american  a i am pleased with the momentum under Way at american express a Robinson said in a statement to Fortune. A while there is More work to be done i believe the time for a change in leadership is  toys expects to lose $8 million mount Laurel . Up Tyco toys inc., citing lower Domestic sales and higher promotional costs announced it expects to Post an $8 million fourth Quarter loss. The company said the loss was larger than it had previously expected but said it expects a a substantial growth in earnings and Revenue next year. But investors pulled out of the Stock and it fell l7/s to 127/s a share Friday on the new York Stock Exchange. By Steven Mufson the Washington Post Washington a one of president elect Clinton a transition officials recently heard from an old schoolmate who wanted help getting a Job As general counsel to a Federal Agency. The official was surprised because she Hadnot heard from the person since they were in school together a elementary school. For Clinton the Campaign season is Over. But for hundreds perhaps thousands of democratic Job seekers the Campaign is in full swing. Those aspiring to posts in the Clinton administration have been using every available tactic from urging reporters to mention their names As candidates to trying to tug on ancient school ties to gain an Edge in their quest for Public service. Rep. Jim Bacchus d-fla., has repeatedly called transition officials and faxed copies of Trade journal articles that mention his name in order to promote himself for the Job of . Trade representative according to a transition official. Some Job seekers fax their resumes Over and Over again. A a it a refreshing that people want to contribute a one transition official said. A but these people arc never going to get  even people who arc leading Candi dates for jobs have been clarifying their positions on issues near and dear to Clinton such As the need for economic stimulus. Lawrence h. Summers chief economist of the world Bank and a leading candidate to be chairman of the presidents Council of economic advisers has been an outspoken critic of big budget deficits and efforts to Fine tune the Economy a  and Downs. In late october however he gave a speech that condemned single minded emphasis on budget deficits As a Hoo Scritc  Alice Rivlin another deficit Hawk and a leading candidate to be director of the office of management and budget recently wrote an article for the los Angeles times stressing the need to get the Economy moving again before targeting the deficit. Many democrats have been telephoning the transition offices in Washington and Little Rock ark., to ask whether working for the transition would help or hinder their chances for a higher office. Harrison Wolford a Carter administration budget official and Washington lawyer who transition officials say would like to be bomb director enhanced his prospects by giving Clinton a Lively presentation on How to organize the White House staff. Clinton was said to be impressed. Republicans Are playing this game too. Albert v. Casey the Bush administrations Man at the Helm of the Resolution Trust corp., has publicly said he Hopes to keep his Job even though Clinton has openly criticized the handling of the savings and loan mess. Casey has been cultivating allies in Congress making a Strong pitch to Senate banking housing and Urban affairs committee chairman Donald w. Ringle jr., d-mich., and meeting with Clinton transition official Frank Raines. Recently he hosted a weekend party and Clinton transition co chairman Vernon e. Jordan or. Just happened to be on the guest list according to several sources. When asked about the party Casey would say Only that Jordan is a close Friend of his and a i have Vernon Jordan Over lots of  friends of John Young former chief executive of Hewlett Packard co., Are openly campaigning for him to be appointed Commerce Secretary. Two heavyweight Trade groups the american electronics association and the computer and business equipment manufacturers association have formally endorsed him. Young a lifelong Republican grabbed headlines when he endorsed Clinton and his positions on High technology during the presidential election Campaign. Despite recent cuts 6m not finished with downsizing company execs say by Alan l. Adler a Auto writer Detroit a the downsizing of the worlds largest automaker is far from Over despite the company a disclosure of the final seven of 21 factories it will shut by the Middle of the decade. Moving to plug huge losses in its North american operations general motors corp. On thursday also identified at least two More plants for possible closure. The announcements affect about 18,000 workers. Pm said it also Hopes to dispose of dozens of component businesses in coming months and was considering other cuts As Well. A there arc a whole ton of decisions that have not been made a pm components group spokesman Dave Lippert said. Gmys worrisome financial condition is the driving Force. Executives promised Wall Street analysts last month that the company a Cash consuming North american operations would break even before taxes and interest in 1993. Analysts expect losses of about $3 billion in North America this year an improvement Over last years $7 billion deficit. It will take a monumental Effort to reduce the losses without sacrificing More Market share which has Slid due to the recession and Gmys Lack of exciting cars and trucks. After losing 10 percentage Points of Market share mostly to the japanese in the mid and late-1980s, More of Gmys customers Are increasingly being wooed away by big three competitors Ford motor co. And Chrysler corp. The seven doomed plants a two in Michigan and one each in Delaware new York new Jersey Iowa and Ohio a Are among 21 pm said last december it would close As part of a downsizing workers leave the general motors Delco Chassis Plant in Livonia mich., during a shift change after learning the facility is among those to be closed. That includes 74,000 Job cuts. T he other 14 were named earlier. One of two factories identified for possible closure a truck Assembly Plant in Flint mich., has no new work assigned after the 1995 Model year but could be assigned new production of Large vans. The other Plant in St. Catharines Ontario is part of Gmys $24 billion automotive components group and will be closed by the end of next year if no buyer is found. Similar fates May await other product lines housed in the 190 pm component plants around the world if pm can to sell them. Pm buys 70 percent of its components from factories it owns a once desirable system that has proved tremendously expensive in recent years because of spiral ing labor engineering and equipment costs. The once dominant automaker now wants to focus on seven of its Core automotive businesses which produce products ranging from batteries to air bags and rank first or second in global Market share. The Hope is to replace Revenue lost by disposing of or reducing its presence in 13 other businesses. Product lines within those businesses some of them profitable will be put up for Sale. If there Are no takers pm will try to create joint ventures strategic partnerships or consolidate the work in other plants said Lippert the components spokesman. If All else fails pm might quit making a Given product and absorb the Cost of getting out of that business. A