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Publication: European Stars and Stripes Thursday, February 3, 1994

You are currently viewing page 15 of: European Stars and Stripes Thursday, February 3, 1994

   European Stars and Stripes (Newspaper) - February 03, 1994, Darmstadt, Hesse                                Thursday february 3, 1994 Money matters the stars and stripes Page 15 today s rates following Are fixed rates at which Community banking and credit Union facilities will sell for eign currencies to . Personnel for personal use German Mark 7. 1.69 British Pound 1.53 dutch Guilder 1.88 greek drachma 242.803 note tha rates above apply wet till the Host c6untry. Figures Aro expressed in dollars to the Bowsh 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 cies Kalian lira 1,688.50 turkish lira. 17,296.10 Spanish peseta 140.65 portuguese escudo. "174.15 austrian Schilling 12.1635 saudi Royal 3.7498 Bahrain Dinar 0,37675 kuwaiti Dinar .0.2971 norwegian Krone 7.44 danish Krone ,"6vtf� British Pound 1.497 German Mark 1.7305 Swiss franc. 1.4498 French franc 5.8795 dutch Guilder 1.9398 belgian franc 35.80 Canadian Dollar. 1.3315 note figures Are expressed in dollars to the British Pound other currencies to the Dollar Odd quote $384.95 an ounce. Silver quote $5.30 an ounce new York Exchange new York up York Stock Exchange Stock Lewonos a a Wal Mart stores Central motors Western digital Pepsico inc Humana in computer Assoc 1 Citicorp fur Nabisco hid Merck & co inc Merrill Lynch Sara in corp Hanson pics of Sociedade ban America the 15 most Active stocks in new composite trading on tuesday. Salei Litt  upvi5,206.4003,974,000 2,959,400 2,822,800 "2,807,800 2,785,500 2,703,500 2,399,400 2,301,100 2,173,200 2,170,200 2.078,200 2,008,000 1.983,800 1.959,000 74 27 61 12v�39v4 21 w37 43 w 22 tf.21 it 28v4 upvioffv4 up in Phi. Oft it off off of up Vuk up  off american Exchange new York a Dpi the 10 most Active stocks i american Stock Exchange composite trading tuesday. Stock Sites lift  .973,100 13% up i inter git comm 930.100 315-16 off 5-16hasbro inc 827,900 33 up a Royal Oak mines 723,500 5 up 3-16pegasus Gow 584.400 22v4 up v4 citizens St be 564,100 8 a charter me Dorp 561,300 23av Offutt Viacom Hie b 497,400 34v off in tubes Deacero 410,000 6vi\ upv4 Cheyenne softer 399.200 37v4\ unch Dow Jones new York up Dow Jones closing Range of averages on tuesday High Low Clou chinos 30 industrials 3998.06 393812 3964.01 Oft 14.3520transport 1871.12 1841.32 1853.24 off5.74 15utilitjes 226.47 223.04 224.49 Oft 1.5265 stocks 1454.41 1432.131441.49 off 5.57 court allows vow s hiring of former Frankfurt Germany a a court ruled wednesday that former executives of opel May work for competitor Volkswagen ending one part of the explosive Industrial espionage Case pressed by the general motors subsidiary. The Frankfurt District court rejected a lawsuit by opel claiming Industrial espionage in the dispute which started last Spring when the general motors Cost cutting expert Jose Ignacio l6pez car rior Tua defected to Volkswagen and seven of his aides followed him. The result of the suit does not affect a criminal investigation against Volks Wagen on suspicion of Industrial espionage a Case that has drawn Strong inter est in the United states. Prosecutors in Darmstadt which is just South of Frankfurt Are looking into claims that l6pez and his aides took stacks of business secrets about opel s plans for future models when they moved to Volkswagen. Volkswagen has denied the claims. Last year the Frankfurt court indicated that it was not favourably disposed to opel s suit demanding that seven for Mer opel executives should be barred for one year from working for v9lkswagen, Europe s biggest automaker and the prime competitor of the pm subsidiary in Europe. The court rejected two pleas for temporary injunctions Banning the team from working for Volkswagen. In wednesday s judgment the court said the behaviour of Volkswagen in hiring the seven managers was not unfair com petition. It said it did t find sufficient grounds to agree with opel s Contention that vow systematically lured away the team executives Jos Ignacio l6pcz de Arr Ortua the focus of opel s Industrial espionage allegations looks at Volkswagen chief Ferdinand pitch during a session of an economic forum in Davos Switzerland on monday. Opel had argued that Lopez approached the seven to move to Volkswagen but the court pointed to sworn statements by the seven that they approached Lopez. Opel offered no proof for its interpretation of events the court said. Prosecutors in the United states also have been looking into the Case which blew up last year into one of the most spectacular allegations of Industrial espionage in recent memory and under lined the intense competitiveness in the world Auto Industry. Lopez a spaniard who Rose in opel s ranks was head of general motors . Purchasing operations with a mandate to help the giant . Automaker return to profitability. He was named second in command to vow chief Ferdinand Piech with the Job of restructuring the Money losing company which claimed last year to be heading Back to profitability on the strength of his changes. Program seeks to measure results. B1 t ". Government s actions Stern employer gets of to buy la. Station Washington a Infinity broadcasting corp. Will be allowed to buy a top los Angeles station despite complaints about Infinity radio personality Howard Stern. The Federal communications com Mission voted 2-1 to permit the Purchase of Orth commission officials con firmed tuesday. Commissioner James h. Quello opposed the action complaining that the Public might perceive the commission As endorsing Stern whose shows Are peppered with sexually explicit talk. Quello said Stern s broadcasts Are possibly  Washington a the Clinton administration took a first step tuesday toward making Quality the hallmark of the Federal government s work. Vice president Al Gore and budget director Leon e. Panetta announced a Pilot project to nudge the bureaucracy toward measuring its work by real results. Some of the programs will be required for the first time to clearly define mis Sions and to set standards by which tax payers can judge whether anything useful is getting done. For too Long the Federal government has measured Quantity not Quality what it puts in instead of what it gets out Gore said in a statement. The announcement today is an important step toward a government that. Holds managers and employees account Able for How their programs  Panetta said the program will produce information on which to base decisions for Basic changes in the Way our govern ment works and is  the Experiment grows out of the government performance and results act which president Clinton signed into Law last August i the Law was sponsored in the Senate by sen. William v. Roth jr., r-pel., who called its implementation historic. Until now the Federal government has not required agencies to report to the taxpayers what results they have achieved with the Money they spent Roth said. With my new Law that has  Roth said the review program should be in full effect across the government by 1997. This legislation is really the first re inventing government Bill to been acted Roth said. The american people do not believe that their government works Well. Implementation of this legislation is the first step toward addressing that  Roth said the new performance Stan Dards will hold government programs accountable for measuring error rates response times citizen satisfaction problem reduction and the Cost per unit for specific results. Among the first agencies to be subjected to the new Law Are the social Secu Rity administration the Small business administration the Fri s organized crime and anti drug programs the National Highway traffic safety administration the student financial assistance program and the office of environmental restoration and waste management. General dynamics to build tank Bridges by the associated press general dynamics corp. Said tuesday that it had been awarded a $26 million engineering and manufacturing contract for the army s Battlefield Bridge pro Gram. Under the 39-month contract general dynamics and its German partner Man ghz will design and manufacture a Bridge deployment system for the my Abrams tank. General dynamics is expected to deliver two prototype systems in 24 months. If successful the army May ultimately buy 106 of the Bridge deployment sys tems bringing the contract s potential value to $260 million general dynamics said. General dynamics builds the Abrams tank and other armoured combat vehicles for the army  
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