European Stars and Stripes (Newspaper) - January 29, 1993, Darmstadt, Hesse                                Pago 12 b the stars and stripes Money matters Friday january �9.1993 re today s rates 1�?j 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 1.55 dutch Guilder 1.73 greek drachma 205.3604 off inv. Inv fm9 How Jtj two am null country. Figural Art apr Yard m Downs 10 Tow British Pound  to few Dow following Are Interbank rates that fluctuate and should be regarded As the approximate value of the . Dollar to foreign currencies italian lira i it a  aae 1 474.00 turkish a to  6,680.90 Spanish peseta Hohu Chhum 1123 Poilu Giese escudo 1420 austrian Schilling  m. 117 saudi Rill atm he wry a May so a it 37405 Bahrain Dinar a it 0.37675 Kuwait Kisr 040425 norwegian Krone 0.71 danish Krone 0.0035 British Pound a  5150 Carman Mark  1.576 Swiss Irene Nuta Iii Momti Tiwi 1.451 French franc 5443 dutch Guilder Eek eee  1.7755 Belg Mefrene 3241 Canadian Dollar 12875 not figures arc expressed in Doihara to1 Britsch Pound  Dollar Hotd quota 1329.70 an ounce sitar quote s360 an ounce c new York Exchange new York jul a this Moit activist Ocic a new Vorac Stock �ctiwgacompo4ffati�ifl an want Otto stack Sain Lail Nalt Kcf. Of. Pepper 8,725,100 t64 anti Marfi Pemco s,324400 23 aft it Paragon Truje 4,783,200 224 unti Merck so inc. 4.235,200 404 up Citicorp 4.000,600 26tt Ulm  3,724,000 34 Oik a corp 3407,000 4sm 4 Civ mine 3.101,700 3v4 Matt Foo Vingco 3,073,800 344 off 4 Duracell hid 2,863,600 334 afum Glaxo holdings 2,595.300 204 off 4 Arnim Sahu 2492.500 84 mid general motor 2,478,200 38 off 4 Motorola he 2,445,600 574 off 14 chemical Bank 2,290,300 414 up 14 c american Exchange new York up the 10 most Active Stock in american Stock Exchange composite Ridino wednesday. Slack lain last Nat of. Wangle Ninab 4,758,100 1 5-18 Tok Hili Hanifl corp 475,400 4 my Well us Blo science 459,300 84 off 4 Cheyenne Soffor 422,300 304 off 14 Gaylord com m 376500 24 up 4 instrument by 376,400 84 up 4 Fra of loom 320,900 454 up Amdahl com 308,700 8 u 4 Charier med cup 272,700 144 off 14 hath Profe Styls 262,500 84 off 4 c Dow Jones new York up a Dow Jones closing Range of averages wednesday him in Ctm chant 30 industrials 331167 3260.05 3291.39 off if 20 transport 1513.27 1479-83 1494.13 up 464 is utilities 225.59 223.34 224.27 up 0.12 65 stocks 1228.48 1206.49 1217.09 off 0.16 Westinghouse chief quits amid big losses piers Burgh a the head of Westinghouse electric corp. Became the latest top executive to quit a big troubled american company retiring wednesday after presiding Over horrific losses rung up at the company a credit subsidiary. Paul e. Lego 62, insisted that he was voluntarily retiring and emphasized that he had taken Steps to restructure one of americans biggest and Best known Industrial corporations. List his departure came amid a growing clamor from Westinghouse investors Over the company a sluggish reaction to its financial problems.  a Stock Rose on the news of Lego a departure advancing 25 cents to $14 a share. Sears still taking overseas Catalon orders by Kevin Robinson. Min writer. Somewhere on the Atlantic Ocean there Are 10,000 Sean Cata logs on a ship bound for american customers in Europe. However after Sean Roebuck and co s announcement monday that its mail order sales will cease at the end of the year Carole Mohler of Kaiserslautern Germany was told by a Sean official that she could not order merchandise from the March 1993 Catalon for shipment overseas. Quot i caned their office in Wichita kan., land a lady told me that they could no longer take overseas orders because their Export department is closed Mohl or said. A when i told her that i had an Apo address she said they can to ship to any overseas apos.�?T. However an official from Sears who requested anonymity said the company is accepting orders for shipment from overseas customers including to Apo addresses. But Quot procedures change daily Quot the official said and the scars Export office is open on a Quot limited basis. There Are restrictions on what can be ordered and shipped overseas the scars official said. Factory items such As furniture blinds custom made merchandise rugs and some automotive items cannot be shipped overseas because of the time it takes for the items to become available the official said. Quot anything with an f in the Catalon can to be shipped a he said. Also customers will not be Able to Back order merchandise. Sears announcement monday that it would drop its mail order operation came with word that the Chicago based company also would eliminate 16,000 full time jobs and 34,000 part time jobs and close 113 of its 950 retail stores. The move follows Sears estimated losses of $833.7 million for the third Quarter of fiscal 1992. The Catalon sales department alone lost $500 million in the last three Yean. Alter being the no. 1 . General merchandiser Sears slipped to no. 3 in 1991, behind Wal Mart and Kmart. Stars and stripes bookstores in Europe receive Sears Cata logs from the Good ideas Agency a Catalon distributor based in Nurnberg Germany. The Agency which buys Cata logs from Sears and resells them overseas does no to know How Sears plans will affect < customers in Europe said Tony Delisa the owner of Good ideas. He said someone at Sears told him that the company would respond in writing on the future of overseas orders. Currently there Are two editions of the for now Sean Catalon a the wish books Christmas edition and the March 93 Catalon a both on Sale for $5 each at stars Ana stripes bookstores said jetty Wigen merchandise manager for Bookstore operations in Darmstadt Germany stripes Sells about 6,000 copies of each Catalon a Flea it comes in its Spring fail Winter christinas Quot wish books and sporting editions Wigen said. A a it a our Best Selling Catalon. It will be  but if the Sean Catalon cant be used to order and ship items overseas Wigen said stare and stripes would have to consider dropping it from Bookstore inventories. Roselyn Myers a family member from Hanau Germany said the loss of the Catalon will mean americans overseas will lose an alternative to the Long lines or Lack of merchandise at army and air Force Exchange service stores. Quot we need to let sews know How they Are hurting military families overseas Myers said. Quot cafes is not Wal Mart. We just cant get up and go to another  she suggested that americans overseas write Sears to show How Many people depend on the Catalon sales. Such letters can be sent to Sears Roebuck and co., National Catalon customer relations department 702 car Downer Grove 1l 60515-5721. Washington a Federal Reserve chairman Alan Greenspan said wednesday that he believes the Long awaited economic recovery is gaining strength but he warned of dangerous Quot head winds that Are holding Back activity. Appearing wednesday before Congress joint economic committee Greenspan cited Good news in the past six months that economic activity was picking up while inflation was remaining Well under control. But he listed a Host of problems still besetting the nation from weak real estate prices and cutbacks in military spending to sluggish Job growth. Greenspan a appearance before the committee marked his first congressional testimony in six months. Many democrats Are complaining that Greenspan and other fed officials dragged their feet in cutting interest rates Over the past three years making the recession worse than it otherwise would have been and the current recovery the weakest on record. Rep. David a obey d-wis., the chairman of the joint economic commit to recovery Greenspan tee said Many people were worried that if the Economy did emerge from its extended sluggishness with the assistance of a Clinton administration exp nomic stimulus package the fed would slam on the brakes by pushing interest tates higher. Greenspan insisted that the fed intended to work closely with the new administration and he said Quot cooperation is already  he noted that weekly meetings Between the fed chairman and the Treasury Secretary had been resumed and he said he had just come from a working breakfast with the new Treasury Secretary Lloyd n. Bentsen. Greenspan said that As far As he could determine the fed and the new administration had generally the same views about the Economy at present. Sen. Paul s. Sarbanes d-md., told Greenspan that he was disappointed that the fed was considering lowering its tar gets for Money growth for 1993. Quot it would be a sad irony for the court. Try to have voted to end the gridlock ii economic policy Between the Congress and the president Only to find it replaced with a new gridlock Between an administration and a Congress committed to stronger growth Ana a Federal Reserve determined to restrain growth by keeping its foot on the monetary brakes a Sar Banes said. Greenspan defended the proposal to Cut the target Range for the primary measure of Money known As m-2. He said lowering the target for 1993, which will be decided at a fed meeting next week was basically a Quot technical adjustment and not meant to signal that the fed was seeking to tighten up on interest rates. In his prepared testimony Greenspan gave no promises that the fed would either lower interest rates farther or at least keep them steady. However he did pledge that the Cen trat Bank was Quot seeking to Foster financial conditions that will encourage maximum sustainable growth in the  Chrysler 4th-Quarter profit at 4-year High the quarterly earnings which worked out to $1.12 per common share were the Best for the no. 3 . Automaker since the fourth Quarter of 1988, its profit for the last three months of the year was More than triple its earnings of $97 million or 33 cents a share in the fourth Quarter of 1991. Sales climbed 24.3 percent for the Quarter to $10.2 billion from $8.2 billion in 1991. The company on a Roll with a Stream Highland Park Mich. Apr of Well received new cars and trucks 1001 Chrysler corp. Said thursday it earned had told investors to expect fourth were Ifni year Iasi $356 million in the fourth Quarter of 1992 Quarter earnings of More than $300 Mil $29 4 Bolin. P610�?�1 Ove and $723 million for the year. A a on. \. Its Stock has Murp the a a fee economic recovery in the United last Vear to close a Mph 2 states continues to be slow and neither $39.1214 wednesday at our balance Sheet nor our credit rating m. R Are where we want them to be a Chrysler Hupf thtn0c.enenti l earnings As far chairman Robert j. Eaton and chief a better than that issued by a consensus of ecu Tive officer Robert a. Lutz said in a 14 analysts estimates compiled by the statement Boston based investors service first Call that had predicted Chrysler would Post fourth Quarter earnings of $314.8 million or 91 cents a share. A statement Quot so despite the gains achieved in 1992, we still have major challenges ahead of us far 1 001 it a a Chrysler a fourth Quarter sales were $10.2 billion up 24.3 percent from $8.2 billion in the corresponding Quarter of for 1993.�?T Chrysler a share of the North american car and truck Market Rose 1 percentage Point to 13.4 percent in 1992 from 12.4 percent in 1991