European Stars and Stripes (Newspaper) - March 9, 1993, Darmstadt, Hesse                                Page 16 b the stars and stripes Money matters tuesday March 9,1993 today s rates following Are fixed rates at which Community banking and credit Union facilities will sell foreign currencies to . Personnel for personal use a s German Mark 1.62 British Pound.1.48 dutch Guilder .1.8747 greek drachma 216.208 note 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 Curren pics italian lira. .1,577,40 turkish lira. 9,342.00 Spanish peseta. 118.44 portuguese escudo 152.77 austrian Schilling 11.711 saudi rial Assee Eesi a a a a a a a a a a a 3.7501 Bahrain Dinar 0.3768 Kuwait Dinar 0.307 norwegian Krone 7.08 danish Krone 6.382 British Pound. 1.4465 German Mark 1.6618 Swiss franc. 1.5385 French franc. 5.6425 dutch Guilder. 1.668 belgian franc. 34.20 Canadian Dollar  1.2433 note figures Ere expressed in dollars to the British Pound other currencies to the Dollar Good quote $327.50 an ounce. Silver quote 13.55 an ounce. In or . Car makers seek limit on japanese sales by the Washington Post Washington executives of the big three . Car companies Are seeking a a european solution a to limit the growth of japanese car sales in the United states by setting a fixed percentage for Japan s share of the . Market Auto Industry sources said. The officials have offered in return to strongly support the Clinton administration s proposed Energy tax and the rest of its economic package. According to administration sources there has been no offer by Clinton officials to do anything for Detroit in return for the Industry a support of the presidents economic plan. The sources described Friday s meeting Between Industry leaders and . Trade representative Mickey Kantor As a discussion of a Range of Auto Industry issues similar to the leaders meeting with the president elect in Little Rock ark., before the inauguration. By Jonathan Yenkin a business writer Boston a just when the new ent land Economy was preparing to Marc Forward again mounting military cuts Are threatening to keep the Region hunkered Down. From shipyards in Maine to Jet engine lants in Massachusetts and Connecticut Lew England relies on defense spending about twice As much As the nation As a a whole. That makes the Region vulnerable As president Clinton accelerates plans to slash the Pentagon budget. A defense cuts Are going to clearly Hurt i new England said David Wyss an economist with Dri Mcgraw Hill a research firm in Lexington mass while Linton has t yet unveiled his flans the Region already was expected to Ose from 57,000 to 134,000 defense related jobs by 1995, said Yolanda Kodrzycki an economist with the Federal Reserve Bank of Boston. A i think we re less than Halfway there Quot she said. Just recently general electric  aircraft engines Plant in Lynn mass., said it would Lay off 700 workers blaming both defense cuts and problems in the commercial airline Industry. That will reduce the plants payroll below 6,000 workers about half its level from the 1980s defense buildup. The double whammy of shrinking military and commercial orders also has hit Jet engine maker Pratt amp Whitney which in january said it will Cut 6,700 jobs in Connecticut Over the next two years. The electric boat division of general dynamics which makes submarines in Groton conn., could eliminate up to half of its 13,000-employee work Force by 1997. Moreover the Nas South Weymouth outside Boston which has More than 1,000 civilian and military workers appears targeted for closing. It would join the army s fort Devins in Ayer mass., and Pease fab in new Hampshire that already failed to survive the Pentagon s hit list. A we do not have an Economy that can absorb these cuts. And take this in stride Quot said Frederick Breimyer president of the new England economic project a forecasting group. New England is no stranger to military reductions. Shrinking defense contracts along with problems in the computer banking and real estate industries pushed the Region into deep recession starting in the late 1980s. Now however the banking sector has cleaned out much of its financial troubles and the housing Market appears to be stabilizing. A big employer in the computer Industry digital equipment corp is still cutting jobs but also snows signs of regaining health. That leaves the defense sector As a major Roadblock to new England climbing from its recession. A if you have an Economy creating jobs at a rapid clip. Then this decline in defense related jobs in t Felt As severely Quot the Federal Reserve s Kodrzycki said. Quot but if you have an Economy that s not experiencing Job growth then it s Likely defense sector workers who lose jobs will have trouble finding other  the Pentagon might ease the pain of defense cuts by choosing new England people. The defense department Pec cd to announce final Sites later this month choosing from 20 contenders nationwide including Bangor Maine and Southbridge mass. A c some defense contractors meanwhile have been trying to shift strategies to adapt to the Post cold War Era. Raythelon co., in Lexington mass., is using a mix of Energy senders plus Home appliance and Small aircraft sales to diversify beyond government orders which have seen a declining backlog. Also while the company s biggest project a the Patriot missile a is winding Down for the army Raythelon has found customers overseas such As saudi Arabia. At fort Devins plans Are under Way to build a Federal prison. At the. Former Pease fab developers lured an aircraft maintenance business and Are now using the site for commuter airlines and other businesses that could employ up to 1,000 people. A. Quot in the Long term i think the area believes now it s better off that the facility has closed a said Jim Pereira who recently served As economic director for neighbouring Portsmouth . A you won t have All your eggs in one Basket of a defense department  company has License of print Money and business is doing Fine thanks japanese Auto representatives oppose the Detroit proposals. Quot the . Companies Are asking for Protection and that Protection is going to wind up costing the american consumer a lot of Money Quot said Paul Ryan a Washington representative of Nissan motor corp. The Auto Industry has an Agenda of three items to help limit the sales growth of japanese car companies in the United states Industry sources said a limiting japanese automakers to fixed Market share percentages As in Many european countries. A having the White House reclassify Jiniv. Asja Mim vans and sport Utility vehicles such As japanese versions of Chrysler a jeeps and forces explorers As trucks. That would increase the Tariff from 2.5 percent to 25 percent. A having the administration lighten up definitions of Quot Domestic contents to Force japanese automakers that build cars in the United states to use More parts made by . Suppliers. By Dirk Beveridge London apr few businesses take moneymaking As literally As de la re epic. The worlds largest private currency Printer prints Money for Small countries generally with fewer than 20 million citizens that can t afford to make their own. It s enjoying a Boom in sales now brought on by the collapse of the soviet Union and the political reshuffling of Eastern Europe. Most of those countries Lack the ability to print Money that s hard to counterfeit. Such Money Nas been de la Rue s specially since the 1850s. Quot the breakup of the communist bloc has been quite useful Quot de la rues chief executive Jeremy Marshall said in a recent interview. De la Rue takes Pride in the Quality of its banknotes but it wont vouch for the value of the Money it mass produces for countries too Little or too poor to make their own. The company insists on pament in hard currencies such As dollars or British pounds. The company says Little about its currency operations citing Security concerns. But Marshall said de la Rue has seen a 30 percent increase in business from banknote printing As communist governments collapsed. De la Rue is doing even better Selling Money sorting machines used by automated tetters said Tim Rothwell an analyst who follows the company for the London brokerage firm Barclays Dezoete Wedd Ltd. Rothwell said he believes that by 1994, de la Rue s annual pretax profits will jump to $174 million up by 57 percent from fiscal 1992. Quot its going Well so far and it looks Good but you never know a Marshall said de la Rue wont say whose Money it vv1. R. F 5-vv Jeremy Marshall of de la Rue pc in London shows off some of the company a work. Leave office in a hurry a requiring an i tirely new Batch of banknotes. Quot living rulers have a Shorter she life a Marshall said. A we prefer to Hai historic  besides once de la Rue has created banknote it has a lock on future Prin tags unless the customer goes Els Whei for a new one. Prints. But a mural of de la Rue banknotes outside the reception desk at the company a London Headquarters offers a few hints Bills from the Philippines Ecuador Costa Rica Honduras Uganda and saudi Arabia. When de la Rue gets a contract it designs Money using Watercolour images of whatever National symbols dictators or dead heroes the country wants. Artists Are careful to include lots of lines and swirls to make counterfeiting a Challenge. De la Rue encourages clients to stay away from pictures of current leaders who could be overthrown or otherwise copiers. Other Security features Metal strips can be added. Countries choose the level of secur they want and pay accordingly