European Stars and Stripes (Newspaper) - December 24, 1993, Darmstadt, Hesse Page 14 the stars and stripes Money matters Friday december 24,1993 it today states following Are fixed rates at which Community banking and credit Union facilities will sell for eign currencies to . Personnel for personal use German Mark. 1.66 British Pound. 1.53 dutch Guilder 1.85 greek drachma. 238.3262 Noia the rates above apply within the Host country. Figures Are expressed in dollars to the British Pound other Curren cies to the Dollar following Are Interbank fates that fluctuate and should be regarded As the approximate value of the . Dollar to foreign currencies italian lira 1,659.00 turkish lira 14,119.50 Spanish peseta a a a sea Eis 139.50 portuguese escudo a a a Eye Mee 173,35 saudi Royal. 3.7515 bahraini Dinar it see be Eveet be 0.3767 kuwaiti Dinar 0.298 norwegian Krona 7.3675 Danalah Krone. 6.635 British Pound. 1.4991 germen Mark a a a a a a Taree Yeeee 1.6965 Swiss Irene. 1.437 French Irene .5.7875 dutch Guilder. 1,9025 belgian Irene.35.38 Canadian Dollar be be a a a Faaee a 1.3262 Noto figure Art expressed m dollars to. The British Pound other currencies to the Doliar. Void quote $38575 an ounce austrian Schilling .11.933$ Silver quote $5.04 Art ounce. New York Exchange new York up the 15 most Active stocks in new York Stock Exchange composite trading on wednesday. Stock Silei last is chg. Cable $ wireless 6.417.500 23ft up i Yff Sociedade 4,494,700 25 Oft it merry go round 3.428,000 2ft up i Borden inc 3,333.800 17ft off 1 it Tel Fonos of my 3,054,100 64ft up it cml group inc 3,016,600 21 off 2 Merck a co inc 2,947,300 34ft up it syn Lex corp 2,639,600 15 off it Wal Mart stores 2,365,100 26ft off it Wax technology 2,349,500 27 up it general motors 2,255,600 55ft upyt circuit it str 2,152,500 20ft upyt Rwjr Nabisco hid 2,108,600 6ft unti Paramount comm 1,949,200 79ft off it Citicorp .1,894,700 36ft off it t american Exchange new York up the 10 most Active stocks in american Stock Exchange composite trading wednesday. Stock Sale Lett it chg. Enter Dott comm 757,900 5ft up it Energy service 641,400 3 unch Amdahl corp 689,800 6ft up it Hasbro inc. 565,800 38 off it Royal Oak mines 466,700 4ft off it Echo Bay mines 397,200 13 unch Janell Molg 371,100 9ft unch Weatherford inc 353,200 9ft up it atari corp 276,600 6ft upyt Cheyenne softer 261,900 28 off it Dow Jones new York up a due Jones closing Range of averages on wednesday 30 industrials 20 transport 15 utilities 65 stocks High 37 b0 64 1774.11 230.42 1390 20 Low 3725 08 174367 226.93 1368 77 close change 3762.19 up 17.04 1765 53 up 14,58 229.77 up 1.65 1383 83 up 8.46 euro Disney Fate May hang on restructuring proposal Paris apr euro Disney could shut Down if Walt Disney co. And 60 Banks fail to agree on a restructuring plan for the Money losing theme Park auditors say. The company might be unable to continue if the plan is not completed the auditors said wednesday in the official publication of previously announced 1992-93 4 financial results. Euro Disney which is trying to get an agreement with creditors to keep the 20-month-old Park outside Paris operating past Spring made similar comments last month. The Park reported a $921 million loss in its first full fiscal year of operation which ended sept. 30. The company issued a statement saying the auditors remarks were consistent with its earlier assessment that euro Disney a would face liquidity problems if a financial restructuring was not completed within the planned time the Burbank Disney owns 49 percent of euro Disney. It has agreed to provide the Cash to keep euro Disney afloat until Spring 1994. Euro Disney said it would not comment on the restructuring talks. The Banks Are performing their own audit with which euro Disney is cooperating a spokesman for Tolfe Park said. Disney would suffer a giant blow to its image if the european Park were forced to shut Down and it is believed the Banks Are using that As leverage. Disney in turn is said to be taking a hard line in Hopes of pressuring the Banks into writing off a Large portion of the Park s debt. Euro Disney has numerous problems mostly related to the Economy. When its 1992-93 results were announced company chairman Philippe Bourguignon blamed the recession and unemployment for cutting into tourism. The company also blames the strength of the French franc for making the Park expensive for British and italian visitors and the collapse of the Paris real estate Market for making anticipated real estate revenues evaporate. Employee buyout of United airlines by Board of directors Chicago a United airlines 60,000 . Employees stand to gain control of the company in return for six years of wage and Benefit concessions under a Deal approved by its Board of directors. The plan still requires the approval by United pilots and machinists and by shareholders of Ual corp., unit cd a Parent. If endorsed the Deal would create the largest employee owned company in the nation. Approval could take at least four months. By cutting unit cd a costs the employee buyout would also allow the company to compete against such budget airlines As Southwest and could mean lower fares As United s biggest rivals feel the pressure. Employees would get at least 53 percent of Ualk a Stock in Exchange for cuts of up to 20 percent in labor costs. United valued the concessions at More than $4.5 billion its unions put them at $5.15 Bil. Lion. The Ual boards approval of the Deal Worth $173 per share to Ual stockholders was announced after the new York Stock Exchange closed wednesday. But approval had been expected and Ualk a Stock Rose $4.25 to $148.50 per share. A for the first time majority interest in a global air Carrier will rest with its employees a said Stephen m. Wolf Ual chairman and chief executive. A a unit cd a employees will share in the company a Success and will have substantial incentive to ensure that United airlines re United employees work in Chicago As airlines Board studied a takeover plan wednesday. Mains a global aviation employees hold minority stakes in trans world airlines Northwest airlines Alaska airlines Delta air lines Southwest us air and hawaiian airlines. Ual with 83,000 workers worldwide would become the largest . Company with majority employee ownership ahead of Florida a Public supermarkets with 65,000 workers Ual has lost More than $1,2 billion since 1991 but recorded a $15 million profit through the first three quarters of this year american and Delta Are in similar Straits. At United the employees stake could Rise to 63 percent if the Stock performs Well in the year after the Deal becomes final. Wolf and John c. Pope the president and chief operating officer Are expected to leave the company. The unions have chosen Gerald Greenwald the former heir apparent to Lee Iacocca at Chrysler corp., As Wolf s successor. Martin Marietta set to buy general dynamics division Paramount Board backs ivc merger new York a Paramount a Board reversed itself wednesday and agreed to a $10 billion merger with ivc a potentially fatal blow to efforts by Friendly suitor Viacom. The recommendation by Paramount communications Board puts the Battle for the entertainment and sports conglomerate into the hands of shareholders. But the recommendation is not binding on them and Viacom inc. Could increase its $9.6 billion offer. Shareholders have until Jan. 7 to tender their shares to ivc which owns a Cable shopping network. Washington a in a Deal that would leave Only two major . Rocket makers in business Martin Marietta corp. Has agreed to pay $208,5 million for general dynamics space business. The Cash transaction would close by april 30 if it receives government approval Martin Marietta chairman Norman Augustine said wednesday during a news conference. The session was broadcast via satellite from san Diego where general dynamics space systems division is based. A combining general dynamics space systems a which has military civil government and commercial customers a with Martin Marietta advances our strategy to Benefit from Industry consolidation and further develop our current strengths a Augustine said. Mcdonnell Douglas would be the Only other rocket maker remaining in business. General dynamics makes Atlas missiles. Martin Marietta makes titans which have double the Atlas lifting capacity. Mcdonnell Douglas manufactures the Delta the lightest of the three rocket families. The Genera dynamics division has with 3,700 employees and racked up about $500 million of sales in 1992. Atlas Booster rockets helped Send americans first astronauts including John Glenn into space More than 30 years ago. The last general dynamics rocket launch was last week. The rocket carried a Martin Marietta satellite for at amp to. Dod Aetna pact May face review by the new York times the defense department said wednesday that it expected to decide by Early next year whether to reconsider a $3.5 billion medical contract it awarded to the Aetna life amp casualty co in july. The general accounting office had criticized the award process for the five year contract which covers 840,000 military family members and retirees in California and Hawaii. It recommended reopening the bidding under improved rules. Gary Whittaker. A spokesman for the departments civilian medical program said the Agency hoped to decide promptly whether to let Aetna take Over on feb. 1
