European Stars and Stripes (Newspaper) - December 20, 1992, Darmstadt, Hesse                                Sunday december 20, 1992 Dollar watch ii try shown below Are the highest Dollar Exchange rates for the week of dec 14-20 compared with Dollar rates for the same period one year and five years ago. German Mark one Dollar would buy you 1.54 1.54 i hts him 1557 l a military Exchange rate British Pound one Pound would Cost you 1.59 1,83 1992 1991 Jwj belgian franc one Dollar would buy you 32.58 32.59 3436 1952 i dutch Guilder one Dollar would buy you 1.76 1.78 184 Jsu French franc one Dollar would buy you 5.40 5.42 5.54 Jmaj greek drachma one Dollar would buy you 202.95 181 53 129.61 .1992 i italian lira one Dollar would buy you 1,411 Spanish peseta one Dollar would buy you 112.97 100.95 110.60 Jim i amp a is sly turkish lira one Dollar would buy you 8,312 1 5,085 1992 992 1987�? Money matters the stars and stripes Page 17 new year May mean no Job for Many american workers a merry new York Christmas you re fire instead of a Bonus or Turkey Many workers have been getting Layoff notices for Christmas. Despite signs of an improving Economy companies Are pressing ahead into the new year with staff cutbacks to try to solve their problems. Last week ism said it would eliminate 25.000 jobs next year and indicated some of the reductions might be made through the company a first Ever layoffs. Ford motor co. Said it would slash 10.000 jobs in its British operations by april 15. And steel Case inc., an office furniture maker notified 1,000 workers they might be dismissed in february. Poor corporate performance and the weak Economy usually Are blamed for layoffs but american management association researcher Eric Greenberg said a downsizing in Large companies is not a child of  a it preceded the recession it expanded during the recession and it will continue after the recession a he said. To Many workers the Christmas season is just about the worst time to find out they might lose their jobs. And Over the last few years thousands have gotten the bad news during the holidays. A year ago general motors corp. Said it would eliminate 74,000 jobs Over four years and Early this month pm identified the last of seven plants it would shut Down. In 1986, one week before Christmas at amp to announced More than 27,000 Job cuts. Before that in december 1982, Bethlehem steel corp. Cut 10,000 jobs. Its not that companies Are trying to ruin the holidays. Accountants say some corporations make their announcements in december because they want to deduct Severance costs from current year earnings and not carry them Over into the next year. Many such As ism arc taking hits against earnings this year anyway for a poor performance. Or like Ford they re already paying for a mandated change in accounting for retirement benefits. Economic news has been relatively upbeat in the last three months and included a drop in unemployment to 7.2 percent from 7.8 percent last june. But while this is a better news than we had been getting nothing indicates the kind of growth that would indicate important Job creation a Greenberg said. Stocks shake off ism woes to finish week with a gain new York up Wall Street got Lucky last week a the years last visit from the three witches turned out to be cordial. With the help of the witches the Stock Market stopped a five session losing Streak and swept away the blues caused by key Dow component ism. The giant computer company Shook Wall Street on tuesday by announcing another round of Cost cutting moves. It said it will eliminate about 25,000 jobs in 1993, reduce global manufacturing capacity and take a $6 billion charge in the fourth Quarter to cover the costs of the downsizing. The grim announcement touched off a two Day sell off in ism shares and put a drag on the Dow. However computer guided buy programs tied to a triple witching hours Elped the Market rebound thursday from five straight sessions of declines and mount a Strong rally at weeks end. A there were big blocks of buy orders tied in with the expiration a said Alan Ackerman executive vice president at Reich amp co. A investors still feel equities is the place to be. They were not spooked by ism or the triple witches a he said. Ackerman was referring to Wall streets adage that nobody is sure where i the Market will swing every time a triple witching hours comes around. The term refers to the quarterly expiration of Stock Index options and futures and options on individual stocks on the same Day. The event which Falls on one Friday every Quarter usually oils the Market and exaggerates volume. For the week the Dow Jones Industrial average a which advanced 15.40 Points or 0.47 percent the previous week a added 9.19 Points or 0.28 percent to 3313.27, for a four week winning Streak. Broad gauges ended the week at record highs with the new York Stock Exchange composite Index rising 3.45 to 242.08 and Standard amp poor a 500 Index climbing 7.55 to 441.28. On the trading floor for the week Tucson electric Power paced the big Board actives losing 1% to 2v&. The company issued 135 million shares of common Stock As part of a financial restructuring plan. Ism followed tumbling 11 to 513/s. Philip Morris was third dropping 2v to 763/t. Among some of the Blue chips at amp to added 1 to 49%, general motors eased % to 33%, Merck fell % to 46%, Boeing gained 1% to 35%, general electric climbed 3 to 863/4, and Citicorp Rose a to 19%. New York Exchange new York up a the 15 most Active stocks in new York Stock Exchange composite trading on Friday. Slock soles Lossl not Chi. Tucson elec per 24,003,700 2% up % ism corp 7,657,700 51% off 1% coca cola co 5,412,800 43% up 2% at amp to company 4,956,000 49% up Merck amp co inc 4,311,100 46% up off % Philip Morris 4,275,400 76% general motors 3,821,900 33% up Exxon corp 3,552,400 62% up % Avistar into 3,551,100 2% up % genl electric 3,217,100 86% up 1% Wal Mart stores 2,999,900 65% up % get corp 2,709,200 34% up % Citicorp Dupont amp co 2,701,900 19% up % 2,699,300 50% up % Johnson amp Johnsn 2,687,300 53% up 1% c american Exchange new York up american Stock Exchange Slock dig icon inc 1 Hilt Haven corp 1 Amdahl corp Echo Bay mines Hasbro me Cheyenne softer exp Rabi co la epitome inc resurgent comm Nabors Industry the 10 most Active stocks in composite trading Friday. Setae ,379,100 ,091,200 732.600 619,800 445,400 431.100 369.100 293.200 205.200 193.600 last 4% 315-16 7 5% 33% 30% 1 7-16 20% 29% 6% Netcha. Off i up i unch unch up i up a a unch up 1% up 2% off i c Dow Jones j new York up rages Friday Dow Jones closing Range of a High Low close change 30 industrials 3325.97 3261.94 3313.27 up 44.04 20 transport 1458.47 1428 04 1451.02 up 20.55 15 utilities 223.40 219.39 222.90 up 3.01 65 stocks 1213.79 1189.53 1208.96 up 16.44 Isuzu May get out of passenger car production Tokyo apr Isuzu motors ltd., a major japanese truck maker said it is considering withdrawing from passenger car manufacturing company officials said Friday. Spokeswoman Ayako Kikuchi however denied a Manichi newspaper report that said Isuzu which is 34.7 percent owned by general motors corp., has already decided to pull out of the Passen Ger car business because of poor profits. The Japan broadcasting corp. Had a similar report. Isuzu supplied 80,000 passenger cars this year to pm. In the year ended october 1991, the most recent financial year in which statistics were available Isuzu reported a $392 million pretax loss. Isuzu sold a total of 15,600 passenger cars in Japan in the first 11 months of Japa this year Down 44 percent from the same period last year. In the same 11-month period Isuzu sold 156,000 trucks Down 7 percent from the corresponding period of the previous year. Other japanese automakers also reported poor sales because of the nations economic slowdown. Mutual a amps new York a the following a than p 10 68 11 21 07 hid up 9 36 9 83 01 govt p 918 918 01 go tap 8 39 8 65 01 Nav by 9 79 9 /9 01 quotations from the National Asso a tiling 1270 13 33 .14 Intoc p 8 00 8 40 01 go the 17.76 17 78 21 govt p 839 8 39 .01 pro Ruthb p 10 99 10 99 08 citation of securities dealers inc. Aha funds my Bop 8 22 8 63. By Bop 910 910 girl nip 2 44 2.58 .02 Yusra p 20 68 21 88 .13 Are the prices at which these Secu Balan 12 64 no .10 text up 10.62 11.15. Sneep 12 02 12 02 .06 of Yip 5 65 593 .01 St Mia p 9 12 9 40�? 01 cities could have been sold net full 1062 no. Usico 13 23 14 00 .10 Spda 1761 17 81 .16 to Catt 13 30 13 93 St mob i 9 12 9 12 a 01 asset value or bought value plus urn 10 49 no 01 value p 17.89 18 93 .14 Aetna funds ins up 10 04 10.58 tech p 29 45 31 16 17 sales charge Friday. Aim funds am fund Aetna 10.39 no 04 Insap 1410 14.92 .06 we Dino 1 90 1 90. Sal buy chg. Adj Gap 9 86 10 16 .01 adj mtg 9 95 no. Bond 997 no. Mon lip 12 66 13 29 .02 ambassador Fri Aal Mutual Chart p 8.61 9.11 .10 in mtg 980 no grab ice 10 63 no 09 or Gap 9 06 9 34 01 Bonds 9 65 9 65 Bond p 10.32 10.83 .01 const p 14 55 1 5.40 11 into la 10 78 no War 8 96 no 06 met Gap 906 9 06 01 Cagri 17/6 1831 21 Carp 1508 15 33 22 cry lip 14 04 14 74 .10 it Csc asm cd 1127 no .01 future 9 00 9.45 .05 met Florb p 9 86 9 68. Or Waif 12 13 12 13 11 my Bop 10.68 1121. Of Yip 557 5 85 .01 9.50 no .12 Alger fund or Tetra 9 66 1016 West of 11 76 11 76 15 Harp kit Intel p 9 02 9 54 .05 as0 funds growth 1 1 16 84 18 64 .12 Mug 9 91 1001 03 ind St 10 50 10 50 06 car 33 39 no .15 ump 10 15 1025 .01 balance 11.07 11 59 05 in Corr t 1314 1314 08 my tent 190 190 i fid 10 26 10 26. Go Nam 15.90 no 01 Sumit 1048 11 Bond 10 84 11.35 a capt Allanc Cip 22 19 22 19 .08 a map 8 68 8 95 01 in Bdl 10 26 10 58 Goth inc 29 75 no .22 of Ini 10 53 1086. Equity 13 09 13 71 11 my set 8 68 8 68 01 so conf 12 57 12 57 07 he by 1621 no .01 Weingu 17 58 18 60 .19 us is 10 58 10.85. Allan p 7 19 7 61 06 Kucap 1018 10 66 to Bdl 10 40 10 72 to fed 17 93 no. Aim funds c Acoman 10 48 10.48 .09 Balan p 13 68 14 48 10 Munap 9 55 1000 amur Advant Abt funds airs pc p 17 85 18 89 .16 Acoma 5411 54 11 .15 Canad 4 77 5 05 02 a soup 10 36 10 85 01 Balan 12 43 no 09 erg p flt 12 48 13 10�? 01 Gosco p 10 1 5 10 66 01 ads Cap 20 98 21 63 25 court p 19 59 20 73 17 Nerup 9 33 9 87 06 10 85 11 39 or the p 12 47 13 20 15 adjust Advent. Glosap 9 52 10 07 08 naga 9 79 1009 01 Mutual Page 18