European Stars and Stripes (Newspaper) - December 16, 1992, Darmstadt, Hesse Wednesday december 16, 1992 i Money matters the stars and stripes b Page 17 a 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. British Pound.11 dutch Guilder. Greek drachma .202.9521 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. 1,407.00 turkish lira .8,306.50 Spanish peseta.112.00 portuguese escudo.140.50 austrian Schilling .11.062 saudi rial.3.7501 Bahrain dinar.0.37675 Kuwait dinar.0.2997 norwegian krone.6.78 danish krone.6.055 British Pound.1.5685 German Mark .1.568 Swiss franc .1.4055 French franc.5.3665 dutch Guilder .1.762 belgian franc.32.20 Canadian Dollar.1.277 note figures Are expressed in dollars to the British Pound other currencies to the Dollar Gold quote $335.00 an ounce Silver quote $3.72 an ounce c new York Exchange new York up York Stock Exchange Stock Arkla inc ism corp Home shopping Pacific Telesis quantum chem Wash Gas Light Uniss corp Natl Semi conduct Philip Morris Westinghouse Al at amp to company general motors coca cola co Glaxo holdings Chrysler corp a the 15 most Active stocks in new composite trading on monday. Sales last net chg. 3.477.800 2.541.800 2.309.800 2.302.900 2.257.800 2.011.900 1,926,700 1.898.300 1.887.400 1,699,200 1,606,500 1.494.300 1.483.800 1.458.400 1,265,000 m 62 % 8 a 44% 13 36va 10% 11 78 is 12% 48va 33 39% 25 32% up a up % off % up % off 1 % up i up % up i off a unch off % off % off a a off a up % l american Exchange new York up a the 10 most Active stocks in american Stock Exchange composite trading monday. Stock sales last net chg. Us alcohol stg 1,294,000 2 3-16 off 11-16 Hill Haven corp 697,800 3 13-16 unch Hasbro inc 577,400 33 up % Amdahl corp 575,000 7% off % Aurora elect rfcs 325,900 12% up % Energy service 284,600 1 1-16 unch Chambers Dev a 284,500 4 13-16 off 1-16 Devon Energy 282,400 14 up % Phil Long d Tel 257,600 32% off 1 i new York times 252,400 26% off % Dow Jones 1. New York up rages monday Dow Jones closing Range of a 30 industrials 20 transport 15 utilities 65 stocks High Low 3324.89 3279.50 1416.17 1393.61 220.46 1200.08 217.39 1182.81 close change 3292.20 off 11.88 1396.83 off 14.71 218.20 off 1.13 1186.80 off 7.09 Given contract for Wasp class ship Beverly Hills Calif. Up Litton industries inc. Said monday that it has been awarded a $760.9 million contract from the Navy to build a sixth ship of the Wasp class of multipurpose amphibious assault vessels. Litton which will build the ship at its Ingalls shipyard in Pascagoula miss., said the Navy exercised an option for the contract after awarding it the contract to build the first five Wasp class ships. The sixth ship will be completed in May 1998. Ism plans to slash 25,000 jobs reduce manufacturing in 1993 Armonk . Up International business machines corp. Said tuesday that it will eliminate about 25,000 jobs next year and reduce its global manufacturing capacity. A declining hardware volumes coupled with rapid improvements in technology and productivity have reduced our capacity requirements a a said ism chairman John f. Akers. A at the same time our services and software businesses Are showing excellent growth. We Are continuing to move aggressively into these areas while maintaining a Sharp focus on our unique ability to create value for our customers by integrating the Industry a widest and most competitive choices of services products and ism was a Pioneer in the mainframe computer business and its undisputed world Leader but it has lost considerable Market share in the Industry As smaller companies have proliferated by making personal computers. The company said it will Cut costs on capital spending development sales and general and administrative expenses. The 1993 work Force reductions will come from manufacturing and development organizations and in marketing and services the company said. Ism also said it was taking Steps to reduce costs and expenses while redirecting development spending and human resources to areas of growth. The company said it would take a charge of about $6 billion in the fourth Quarter of 1992 to cover the moves. Ism also said it was increasing the autonomy of its a Star Pennant systems and personal computer co. To allow those businesses to More quickly meet changing marketplace requirements. A we Are moving ahead to manage these businesses As essentially self sufficient companies with the expectation that they will accelerate their Speed to Market and improve their efficiency and financial returns a Akers said. A the general managers of our businesses will Lead this work which will occur business by business location by location and skill by ism said it anticipates that Overall development spending will be reduced by about $1 billion in 1993. Development expenditures and human resources will continue to be shifted to growth areas including services software networking and multimedia. Japanese germans called top workers Tokyo apr in the latest comment by a japanese official on foreign working practices labor minister Masa Kuni Murakami said monday that japanese have different work values from those of other people a ministry spokesman said. Murakami Japan a newly appointed labor minister said japanese and germans work More than people in America and other leading nations resulting in differences in economic strength spokesman Junichi Kaneko said. Referring to the group of seven industrialized nations Murakami commented a among the g-7 nations the other nations do not work so there is an economic Gap compared to Japan and Germany a Kaneko said. The g-7 members Are Britain Canada France Germany Italy Japan and the United states. Murakami made the remarks at a news conference for japanese reporters. One reporter asked Murakami if he really meant that people in the other countries do not work and Murakami said that was a misinterpretation Kaneko said. A what i meant is that working standards Are different and so it is natural that there is an economic Gap a Kaneko quoted the labor minister As saying. He said Murakami was referring to working hours. In february prime minister Kiichi Miya Zawa set off a storm in the United states by expressing concern Over what he described As a decline in the american work ethic. According to the labor ministry the average japanese worker put in 2,016 hours in 1991. The leading economic newspaper Nihon a Izai Shimun quoted the German economic Institute earlier this year As saying that germans worked an average of 1,647 hours in 1991, compared with 1,904 for americans 1,754 hours for britons and 1,763 for frenchmen. President Bush and Commerce Secretary Barbara h. Franklin pose monday with award winners at the Commerce department in Washington from left Are Greg Hughes of the at amp to network systems group Jeny r. Junkins of Texas instruments inc., Paul Kahn of at amp to Universal card services Horst Schulze of the Ritz Cariton hotel co. And Bruce Woolpert of the Granite Rock co. 5 companies get management awards Washington a president Bush on monday honoured five companies a ranging from divisions of at amp to in new Jersey and Florida to the Ritz Carl ton hotel co. In Georgia a for excellence in management. Bush presented each of the companies with the Malcolm Baldrige National Quality award named for the late Commerce Secretary. The award established in 1987, recognizes companies with a Superior system of managing their operations and people As Well As satisfying the needs of their customers. The companies receiving the award in the manufacturing category were at amp to network systems group transmission systems business unit in Morristown n.j., and Texas instruments inc. Defense systems amp electronics group in Dallas. Honoured in the service category were at amp to Universal card services in Jacksonville fla., and the Ritz Carlton hotel co. In Atlanta. Granite Rock co. Of Watsonville Calif., received the award in the Small business category. Bush joked about his election defeat in citing at amp to Universal card services which was rated by 98 percent of its customers As better than the Competition. A ninety eight percent. That a pretty Good for a poll a Bush said. A i could have used it about a month the award a medallion has been Given since 1988. This year marked the highest number of awards bestowed in a single year
