European Stars and Stripes (Newspaper) - February 23, 1993, Darmstadt, Hesse                                Page 16 the stars and stripes Money matters 1993 today rates following arc fixed in pcs a which Community banking and credit Union facilities will sell for eign currencies to . Personnel for personal use German Mark 1.59 British Pound t.49 dutch Guilder 1.79. Greek drachma. 213.5845 note the Rafer Bov up country. Figure pro in Dolunt to the British Pound other currencies to the Dollar following Ore Interbank in pcs that fluctuate and should be regarded As the approximate value of the .Dollar to foreign currencies italian lira 1,569.12turkish lira 9,088.00 Spanish peseta 117.55portuguese Esau do 149.67 austrian Schilling 11.495 saudi rial 3.7495 Bahrain Dinar 0.37675 Kuwait Dinar 0.30650 norwegian Krone 6.9525 danish Krone 6.261 British Pound 1.4557 German Mark 1.632 Swiss franc 1.493 French franc 5.6275 dutch Guilder 1.835 belgian franc 33.60 Canadian Dollar 1.2619 note figures Are expressed in dollars to the British Pound other currencies to the Dollar Gold quote 1130.00 in ounce Silver quote $3.58 an ounce. Clinton plan backers opponents gearing up for the great debate . Investor adds support to Post Deal from hire reports new Yoke the new York Post has found a powerful financial Backer Ina millionaire real estate Developer who invested $3 million and was named chair Man of the Board the newspaper , owner said sunday. He s totally committed to the new York Post Steven  the paper s prospective owner publisher said of Abe /. Hirschfeld. La Offenberg said la Irschfeld would be the Only major investor in the .192-year old tabloid s Battle to come Back from the Edge of financial oblivion. Lie s a very successful businessman who can make a few phone Calls and raise $10 million la Offenberg said. La Offenberg who owns a multimillion Dollar Bill collection business won Tenta Tive court approval last week to take Over the Post with a guarantee of $6 million to keep it operating. A Irschfeld has made millions in new York real estate and parking lots and owns the vertical club a Manhattan health club. In 1986, he mounted an Effort to be come gov. Mario Cuomo s running mate As lieutenant governor. But Cuomo challenged a Irschfeld s nominating petitions in court and had him ruled off the ballot. A year later Hirschfeld launched a Short lived Campaign to draft Donald Trump for president calling his fellow entrepreneur the Best Hope to solve the nation s economic problems. Despite Trump s tacit approval the Effort filed. The securities and Exchange commis Sion recently filed suit against Llo Fen Berg and his towers financial corp., a debt collection Agency alleging fraud in the Sale of $400 million in High yield securities to More than 2,800 investors around the country. The civil charges prompted a . District court judge last week to freeze Hoffenberg s assets and prevent him from transferring some funds to the paper.  associated press new York preparing for thereat debate supporters and opponents of the Clinton economic plan arc lining up their arguments quips darts barbs and sound bites All designed to make the enemy look foolish. Opponents of the plan for example claim the first goal of the plan s backers  to. Be to blame anyone but their own party or themselves for the economic mess because to do so is just bad politics. Blame Ronald Reagan George Bush the pharmaceutical Industry the Rich or analysis unfair trading partners anyone but divert attention from any democratic role in advancing wasteful spending an widening the budget deficit. Proponents of the Clinton plan respond with sarcasm about Republican promises and Calls for patience and offer their condolences about How tragic it was that the masses lacked the patience necessary to enjoy the benefits of tricks Down. It goes on that Way and it will continue for Many months More so we might As Well get used to the exaggerations that will be applied to the positions of those who support and those who seek to thwart the new economic offensive. Exaggerations they arc and it is Likely that the new economic plan will be exam ined and criticized for More than it is that it will be viewed As a new initiative to grow big government at the expense of the private sector. _.-. Opponents say it carries the message that financial Success through hard work and ingenuity is to be abhorred and Pun Ishad rather than admired As uniquely american. They say it is divisive painting the riches the enemy and that inherent is an As sumption that while some of the wealth did something worthwhile such As creating jobs most got theirs shuffling papers and avoiding taxes. With feigned sincerity they ask Clin ton supporters to explain to them just How taxes encourage economic expansion inspire Enterprise create jobs and Spur businesses to greater efforts and corporate pluses & minuses companies that will Benefit and suffer the most under president Clinton s economic plan. Road builders other contractors $30 billion spending through 1997 to upgrade infrastructure. Technology companies govt. Pays to develop High Speed computer data network and commercial use of devices invented in Federal laboratories. Export oriented companies won t be Hurt much if tax increases prompt less . Consumer spending. Growing companies medium and Large companies get 7 percent tax credit for two years for new equipment purchases. Small companies get 7 percent credit for two years 5 percent after that. Big companies top corporate tax rate jumps from 34 percent to 36 percent for income above $10 million. Puerto Rico cutback of Liberal tax break for puerto rican operations. Among hardest hit drug makers. Defense contractors $76 billion in new defense budget cuts through fiscal 1997, entertainment smaller business tax write offs for meals club dues May Hurt. Energy higher rate of new Energy tax impacts Oil Industry the most lesser Impact on Coal and natural Gas. More tax Revenue for Uncle Sam. For effect they wonder aloud How it i that the Clinton plan can be rooted in the notion that Central planning is Bette than private sector efforts when after years of experimentation so Many nations have abandoned the concept. They concede again sarcastically that Uncle Sam knows More about spending than anyone else and that although theold gent has never earned a Nickel in his life he lives Well and is never without Cash for any occasion or purpose. They ask for another demonstration of a Steve Sakson the old codger s sleight of hand in Mak ing Money disappear in a Flash and they assert that the Clinton economic plan will provide Many More opportunities for such a great trick. The plan s defenders arc equally Well armed there being a storehouse of mate rial in recent economic performance. They will offer their laments to republicans still anguished that voters lost the Faith just As the trickle was about to anoint them As earlier it had blessed the Rich and they will agree As to How the poor Lack Faith. Americans continue to stash Money into Mutual funds at record Levels by the new York times liw York american investor continued to pour Cash into Mutual funds last month getting 1993 off to a fast Star following a record year for the Industry fund managers say. Stock funds and municipal Bond fund were especially Strong in january. This is the Best month in the history of the firm Chrissy Snyder a spokeswoman for the Janus group said of Jan uary s Cash inflow t. Rowe Price and the Vanguard group were among the other fund groups that said last month was their Best Ever. Industry figures show that Stock funds took in a net $9.2 billion in december the second Best month Ever trailing the november figure of $9.9 billion. I or the year Stock funds took in $77.9billion, More than double the 1991 record of $38.4 billion. The net figures include new purchases and redemption As Well As Money transferred Between funds. But they do not include reinvested dividends. For Bond funds investor interest ebbed at the end of 1992, with a net in flow of Only $4.9 billion in december Down from $7.8 billion the previous month. In part the decline reflected a $1.2 Bil lion net withdrawal from funds that in Vest in foreign Bonds which have Bee Hurt by the rising Dollar. Out several fund groups reported tha Bond fund sales rebounded in january with municipal Bond funds especially Strong. Overall Bond funds took in $93.3 Bil lion in 1992, up 39 percent from $67.2 billion in the previous year but Short of the 1986 record of $ 108.6 billion. While funds that invest in taxable Bonds did not sell As Well As in the record year municipal Bond funds had 1992 Cash inflow of $28.4 billion just Topping the 1986 record of $28,2 billion. People Are concerned about their taxes and they Are heading straight for lax exempt funds said Diane Coffey a spokeswoman for Dreyfus corp. Fund groups that sell directly to the Public tended to do the Best in equities last month while some fund groups that sell through brokers and insurance agent said Stock fund sales had not risen Asra  were up 50 percent in january said Bruce Speca of the fund  most of the action was in Bonds. Equities were up Only  at Putnam investments the hot category was clearly tax free said Stephen Gibson the managing director of retail  funds have been attractive Al most across the Board with funds that in Vest largely in companies that mine pre Cious metals the exception. Last year those funds had a net out flow of $77 million for net outflows in four of the past five  of the strongest interest has been in aggressive growth funds the Riskiest Type of Stock funds. With Small stocks generally outperforming Large ones since the fall of 1990, those funds have done Well. Last year that category of funds had Anet inflow of $13.5 billion 51 percent More than the $8.9 billion posted in 19i, the previous record