European Stars and Stripes (Newspaper) - January 26, 1993, Darmstadt, Hesse                                Page 16 b the stars and stripes Money matters tuesday january 26,1993 today s rates following arc fixed rates at which Community banking and credit Union facilities will sell for sign currencies to . Personnel for personal use German Mark .1.55 British Pound. 1.59 dutch Guilder .1.74 greek drachma .209.2048 nolo the rates above apply within the Hosl country figures Are expressed in dollars to the British Pound other currencies to the Dollar a a following arc Interbank rates that fluctuate and should be re in Rcd of the approximate value of the . Dollar to foreign currencies italian lira. 1,460.94 turkish lira.8,662.00 Spanish peseta. 112.65 portuguese escudo.143.19 austrian Schilling .11.19 saudi rial.3.7495 Bahrain Dinar 0.37675 Kuwait Dinar 0.3045 norwegian Krone .6.76 danish krone.6.113 British Pound.1.5595 Gorman Mark. 1.5715 Swiss franc 1.4435 French franc 5.328 dutch Guilder 1.769 belgian franc 32.40 Canadian Dollar 1.2786 Noto figures Are expressed in dollars to the British Pound other currencies to Tho Dollar. Gold quote $328.75 an ounce Silver quote $3.69 an ounce saudis want open to Cut Ity the new York times Cairo Egypt a saudi Arabia in a move hat could boost Oil prices has called on the organization of Petroleum exporting countries to reduce production by More than a million barrets a Day. The position signals at least a temporary end to saudi Arabia s policy of maximizing production which has increased to More than 8 million barrels a Day from 5,5 million barrels a Day in 1990. That a More than a third of Opecz a production and gives the saudis enormous clout. The saudi position a relayed at a saturday meeting in Paris a is a sign that it and Iran open s second largest producer have decided open s production has gotten out of hand. An oversupply of Oil and weak demand have reduced Oil prices roughly 20 percent since october sharply reducing Revenue for All open nations. . Gasoline prices continue to decline eos  apr the average nationwide Price of gasoline fell 1 cent per gallon in mid january continuing a downward trend an analyst said. The biweekly a Undberg Survey of 10,000 gasoline stations on Friday showed the average Price including taxes was $1,155, to thy a Undberg said. The Price Jan. 8, two weeks earlier was $1.165, Down three quarters of a cent from mid december at self serve pumps the average Price was $1,095 cents for regular unleaded $1,275 for Premium unleaded and $1,121 cents for regular leaded. At full service pumps the average was $1,385 for regular unleaded $1,538 for Premium unleaded and $1,463 for regular leaded. New York Post gets reprieve with new buyout agreement new York apr an executive with a major financial corporation reached a tentative agreement sunday night to buy the financially troubled new York Post and keep the nations oldest daily newspaper alive. Steven Hoffenberg Board chairman of towers financial inc., a nationwide accounts receivable financial institution came Forward with the offer sunday night. It was made minutes before the posts current owner Peter Kazikow was to announce that the paper was suspending publication just Days after its Banks had Cut off its credit. Quot contrary to what everybody has thought  said the new York Post is not Deary Kalikow said late sunday. Quot in fact it s very much  the tentative agreement was announced at the end of a tumultuous Day in which employees agreed to take 20 percent pay cuts but the posts Banks decided that was insufficient to restore the paper s credit.  a offer is still subject to approval by Kalikow a creditors committee and rankers Trust. Kazikow spokesman Howard Rubinstein said the Bankers and creditors would allow the paper to con Tiniuc while the Deal was examined. Hof Fence res new York company docs $1 billion to $2 billion in business a year in Bill collecting Rubenstin said. If the Deal goes through the Post would be the second new York tabloid to be saved from closure this month. On Jan. 7, publisher Mortimer Zuckerman bought the beleaguered new York daily news for $36.3 million. Terms of the Post Deal weren t immediately disclosed. However gov. Mario Cuomo said earlier that Hoffenberg 48, was willing to invest As much As $300,000 to $500,000 a week until a longer term plan to save the paper could be worked out. State officials had been trying for three Days to help the paper. A the new York Post docs not deserve to die a said Hoffenberg who added that he believes the paper can be made into Quot an economically viable newspaper that can successfully compete in Trie new York  the Post which employs about 720 people is the smallest of new Yorkus four major metropolitan dailies reaction among newsroom employees was cautiously optimistic. Quot i just look at it As another ride on that roller coaster a said librarian Myron Rushetzky. Quot there s a magical mystique at this paper a Kalikow spent sunday meeting with his hankers trying to arrange a Deal that would keep the 192-Ycar-old Post publishing if its employees accepted the wage cuts and the papers Price were raised 10 cents o 50 cents a copy. By the end of the night the last of the papers nine unions had voted to support the reduction. In some cases the support was offered grudgingly and came after heated debate. Reporter Colum it Andrea Peyser who recently returned from an assignment in Somalia said people at the news a the front Page of mondays new York Post proclaims Liat the paper is still in business encountered financial problems in recent years. It was founded in 1801 by Alexander Hamilton. William Cullen Bryant became editor in 1829, a position he held for 48 years. Its daily circulation which reached a High of nearly 1 million in the Early 1980s, has tumbled to about 490,000. The Post does no to publish a sunday edition. Kalikow received concessions when he bought the Post from Rupert Murdoch for $37 million in 1988, two years later he was about to close the tabloid when employees agreed to switch to a four Day workweek and accept 20 percent pay cuts. Kalikow filed for personal reorganization under chapter 11 of the Federal bankruptcy Laws in 1991 As the deep real estate slump stretched his credit. At the time he said he was pressured by one of his Banks that was demanding repayment of outstanding debts. He said if he did that it would set off a series of similar demands from other lenders. Papers downtown offices sunday were a angry and frustrated but feeling totally  a i would say Somalia was upbeat compared to this she said. Members of the newspaper Guild approved the cuts by a voice vote sunday afternoon after a heated two hour meeting. Quot our greatest Hope in accepting this proposal is that it will Lead to a new owner for this paper a one who understands the newspaper business and will have the posts future interest at heart a the Guild said in a statement. The 20 percent pay Cut was the second in 2vi years although about half of the first one has since been restored. A Kalikow spokesman said the average annual salary for reporters at the newspaper before the Cut was about $40,000. Despite a reputation for aggressive journalism and such provocative headlines As Quot headless body in topless bar Quot the Post has steadily lost circulation and Agency finds age Bias at Mcdonnell Douglas paper says St. To Iris a a Federal Agency found age discrimination in the layoffs of contractor. The Agency found that Mcdonnell the company previously has denied discrimination in the cutbacks. The Post about 700 workers at Mcdonnell Doug broke pc amp raft a i i trim Ioaz on a Albi Las corp., a newspaper reported sunday. Invention adv Vinn off ,.r y  spokeswoman Barbara an the Tua employment Opportunity older said Lynn Bruner District Leoc lelbl7�tok�?ow�dis Ite commission said it found a a Waltern of Liri a tar. A Rel up of until to tells Cusp in commission said it found Quot a pattern of discrimination from july 1990 until May director Mcdonnell a it St by two Kors lust Legoe i get Despu Cut reported. Employees having years of service and no Llie workers were among 10,000 peo performance deficiencies a Bruner said pie Laid Ott during that time by me Don m a letter mailed thursday to workers Nell Douglas the nations largest military who had filed complaints Case with the paper. Bruner said the Agency had made Quot substantial Progress toward a settlement with Mcdonnell. Neither Side would discuss the terms but Mcdonnell appeared to have set aside $20 million for the settlement the newspaper said