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: AbfaTe Copy~N' 0 |f 0rrt . M | e 

Americans 
Take Lead 
In Europe’s 
g New Banking 

i irv~-. ^4 • ®y Alan Friedman 

r" ;v, . ‘ ^-31 Inmatmnd HerjU Tnhunr 

r j?5sjSS _ P A.WS — Call ii Wall Street versus 

■;{ r'- Europe s Old Guard, orjusi healthv com- 

\t g^js] -petition. 

ti f»-3 • ! Whatever you call it, there is little doubt 

£Srf “» l American investment-banking firms 

.7 1'5 r.j[S jj*® ^usy snatching business away from the 

-VJ'j.V ris blue-chip institutions that were once the 

7 -h * ' un comes ted kings of European corporate 

?:r -fi finance. 

Put amply. Wall Street firms are the big 
^ beneficiaries of Europe's growing recov- 

? -v-V® .cry, corporate restructuring and the wide- 
spread push by governments toward priva- 


" *’ -Vta. 


*=« mm | u 


- - u:. 


In Europe, though, the growing strength 
of the Wall Street firms was evident recent- 
ly when Goldman Sadis was chosen to 
flank Deutsche Bank and Dresdner Bank 
as a coordinator of the multi biHion-doUar 
planned privatization of Deutsche Bunde- 
spost Telekom. In that deal alone, which is 
expected to amount to a S10 billion share 
sale, Goldman could earn fees of more 
than $50 million. 

The stakes are high indeed: A recent 
report by Morgan Stanley estimated that 
European privatizations between 1993 and 
1998 may total as much as $150 billion, 
which means that potential fees for suc- 
cessful investment bank advisers could be 
more than $4 billion. 

Morgan Stanley — which recently un- 
veiled plans to mage with S.G. Warburg 
of London in what amounts to a spectacu- 
lar takeover of a European firm by Ameri- 
cans — has also been blazing ahead in the 
Continental market. It is currently an ad- 
viser in the exp ected multibfllion-doflar 
sale of shares in STET, the telecommuni- 
cations subsidiary of IRI, the jumbo Ital- 
ian state conglomerate. 

Romano Prodi, the former chairman of 
IRI, explained in an interview why Ameri- 

See BANKS, Page 6 


Kiosk 

California Plane 
Hits Building 

FRESNO, California (Reuters) — 
A California Air National Guard jet 
crashed into an apartment building 
here Wednesday, killing at least 2 peo- 
ple and injuring 20, officials said. 

The plane, a leased twin-engine 
Lear jet. plunged onto a street near the 
Fresno airport, and wreckage tumbled 
into the two-story residential com- 
plex, igniting several parked cars and 
setting the structure on fire. The cause 
of the accident was not known. 


Book Review 


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LeSonV.Vuisi Jo U S. Mil. (Eir.)Sl.lll 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 

Paris, Thursday, December 15, 1994 








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, tizalion. All of this implies more business 
in mergers, acquisitions, capital raisins 
and the handling of privatization deals for 
governments. 

European firms, while still commanding 
an enormous chunk of the market, are 
increasingly seen as bring less fleet-footed 
than their American competitors and bav- 
‘ ing less clout internationally. In some pans 
of Europe the homegrown institutions 
have the additional handicap of bring less 
aggressive in the search for new deals, 
having flourished in a closed and often 
clubby environment. 

The numbers tell part of the story: In the 
first 10 months of 1994, 6 of the top 10 
advisers in takeover deals targeting Euro- 
pean companies were American institu- 
tions. according to IFR Securities Data of 
New Jersey. By Dec. 9, American firms 
had handled 284 European corporate d e al s 
with a total value of nearly $31 billion. 

At Goldman Sachs, perhaps the Ameri- 
can firm with the strongest presence in 
European corporate finance, the Europe- 
based staff has grown by 84 percent since 
1990, to 2,087 people. Revenues from Eu- 
rope last year amounted to an estimated 
$1.5 billion, or 27 percent of the Goldman 
group total, compared with 10 percent in 
1990. 

The same is not true in Asian markets, 
and especially in Hong Kong, where sever- 
al American firms are now scaling back 
their ambitions — and staffs. Jon S. Cor- 
vine, chairman of Goldman Sachs, conced- 
ed in an interview that the staff expansion 
had been slightly overdone in Asia, where 
his company is now trimming its work 
force. “It’s a question of pacing,” he said. 


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_ , Miduel EirjTir* Agave Frunze- Prose 

Chechen soldiers running from a Russian military helicopter on Wednesday, fearing that it might explode after they shot it down near the village of Shaamy-yurt. 

Face-Off for a U.S. Carrier and Chinese Submarine 


By Jim Mann and Art Pine 

Las Angeles Tuna Service 

WASHINGTON — The U.S. aircraft 
carrier Kitty Hawk and a Chinese nuclear 
submarine squared off in international wa- 
ters off China’s coast this fall in an en- 
counter that demonstrated the growing po- 
tential for naval conflict between the 
United States and China. 

Shortly after the Oct. 27-29 incident in 
the Yellow Sea, China served notice 
through a U.S. aide in Beijing that the next 


NATO Prepares 
To Strengthen 
UN in Bosnia 


By Bradley Graham 
and Rick Atkinson 

Washington Post Service 

BRUSSELS — Defense ministers of the 
NATO countries involved in Bosnia 
agreed Wednesday to have their military 
chiefs of staff meet next week to draft 
recommendations for bolstering UN 
peacekeeping operations in the Balkans. 

European governments continued to 
bade away from warnings, issued a week 
ago, of an immin ent withdrawal of their 
troops from Bosnia. But their renewed 
commitment to stay depends on reaching 
consensus about new measures to safe- 
guard the peacekeepers from Bosnian Ser- 
bian harassment and to improve UN effec- 
tiveness in delivering humanitarian aid. 

The only firm consensus to emerge 
Wednesday was that something must be 
done to bolster the UN force and to dem- 
onstrate that the force still is worth sup- 
porting, according to U.S. officials. 

[Radovan Karadjic, leader of the Bosni- 
an Serbs, said Wednesday evening that 
Jimmy Outer, the fonner U.S. president, 
would visit Bosnia “in the next few days” 
for peace talks. 

[In return for the visit, Mr. Karadjic told 
CNN, he had agreed on several measures 
to be carried out Thursday, including free 
movement for UN aid convoys, a cease- 
fire in and around Sarajevo and freedom 
for younger prisoners of war.] 

Military chiefs of staff, joined by UN 
commanders, wfll meet in The Hogue on 
Monday and Tuesday to assess possible 
changes in the UN force. 

Proposals under discussion indude con- 
solidating UN units, which currently are 
scattered across roughly 20 sites in Bosnia, 
into fewer, more easily defended “stock- 
ades”; fortifying a supply corridor from 
Croatia's Adriatic coast to Sarajevo; im- 

See BOSNIA, Page 6 


time such a situation arose, China's orders 
would be to shoot to kill. Pentagon offi- 
cials confirmed this week. 

Although no shots were fired, U.S. offi- 
cials acknowledged that it was serious. The 
captain of the Kitty Hawk sent S-3 anti- 
submarine aircraft to drop sonic derices to 
track the submarine, and Chinese Air 
Force jets scrambled and flew within right 
of the American planes. 

Finally, after the Chinese submarine 
withdrew to Qingdao, the main naval base 
on China's east coast, the U.S. carrier was 


pulled out of the area. The Kitty Hawk, 
whose home port is San Diego, had been 
used earlier in the Gulf and off the coast of 
Somalia before it was transferred to an 
American base in Japan last July. 

[The Kitty Hawk was following stan- 
dard procedure in tracking the submarine, 
Agence Fran cc-Pr esse said Thursday, 
quoting Mike McCurry, the State Depart- 
ment spokesman. 

[But Mr. McCurry said the Chinese had 
not passed formal warnings through diplo- 
matic channels. 


Court Dashes French Tycoon’s Dreams 


The AuoctaieJ Pros 

PARIS — Bernard Tapie, the flamboy- 
ant French politician and tycoon, was de- 
clared bankrupt Wednesday in a court 
ruling that would ban him from bolding or 
running for elective office for five years. 

The Paris Commercial Court ruled that 
the brash tycoon, beleaguered for months 
by legal woes stemming from the crum- 
bling of his business empire, was unable to 
cover the debts of two companies for 
which be is liable. 

Mr. Tapie announced he would appeal, 
but if the ruling stands be will lose his seats 
in the European Parliament and the 
French National Assembly and cannot run 
for office again Cor five years. 

The ruling, effective immediately, 
dashes the former leftist cabinet minister's 
dreams of bring elected mayor of Marseille 
and takes him out of the contest to succeed 
President Francois Mitterrand next spring. 

Estimating the personal debts of Mr. 
Tapie and his wife, Dominique, at 53 mil- 
lion francs, or $9.8 million, the court said 
that “the couple’s liabilities far outweigh 
their assets” 

Ren 6 Monory, centrist president of the 

Sec TAPIE, Page 6 







UinHCimono TV Vwwulcd Pre*« 

Mr. Tapie leaving the Paris court that declared him bankrupt Wednesday. 


Peru’s War on Terrorists Is All but Won 


By Calvin Sims 

New York Tima Service 

AY ACUCHO, Peru — The main plaza of this Andean town is 
buzzing with activity: vendors hawking their wares, schoolboys 
playing soccer, students arguing politics and lost tourists seeking 
directions. 

These lively streets provide the best evidence that the Peruvian 
government has all bait won the war against the Shining Path 
guerrilla movement 

It was in 1980. at the University of Ayacucho, that Abimael 
Guzradn Reynoso founded the Maoist group, which has killed 
more than 30, (XX) people in its quest to turn Peru into a 
cooperative farming society. 

And it was here that the reign of terror was most strongly frit 
A few yearn ago, gunfire and explosions were beard throughout 


the day and well into the night as the Shining Path and the army 
battled each other. 

Almost everyone in this war-scarred town of 100,000 people 
has a relative or friend who was killed. Nearly a third of the 
population fled for safety in Lima, the capital, 325 kilometers 
(200 miles) away. Those who remained dared not go out after 
dark. 

“When this city was dominated by the Shining Path, there was 
an ever-present fear and terror,” said Jorge Garcia Prado, who 
was mayor from 1983 to 1989. “There was no joy, no happiness, 
no social life. So many of our family and friends were killed that 
we had no more emotions. We were like the walking dead.” 

Today, following the capture of Mr. Guzman and most of 

See PERU, Page 6 



t 7 

\ 


No. 34,772 


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- V "- V."*a> 




[He would not discuss military particu- 
lars, but confirmed that the encounter had 
occurred in international waters. “What 
the Kitty Hawk did was standard proce- 
dure,” he said. These procedures include 
making “defensive efforts,” he said.] 

The encounter underscored the growing 
maritime tensions between the U.S. Pacific 
Fleet and China, which is rapidly develop- 
ing a blue-water navy. U.S. officials say 
they found the nuclear submarine in open 

See FACE-OFF, Page 6 


Rebels Down 
A Russian 
Helicopter 
In Chechnya 

Moscoiv Repeats Threat 
To i Use All Means' to 
End Secession Struggle 

By Alessandxa Stanley 

New York Tima Service 

MOSCOW — Chechen separatists, 
hastily responding Wednesday to their 
president’s televised appeal to “fight the 
Russians until they die of exhaustion and 
hunger,” shot down a Russian helicopter 
40 lolometers west of the capital, Grozny, 
and attacked the Russian troops now ring- 
ing the city with everything from grenade 
launchers to Molotov cocktails. 

Film taken after the Russian helicopter 
was shot down shows Chechen soldiers 
throwing the co-pilot, who may have been 
alive, in a ditch by the side of the road. The 
pilot was killed in the crash. 

Thursday is the deadline President Boris 
N. Yeltsin of Russia has given for the 
secessionist rebels in Chechnya to lay 
down their weapons. In a statement 
Wednesday night, the government here re- 
peated its threat to “use all means neces- 
sary to restore order” in the region, which 
is a part of Russia. 

“We confirm our intention to put an end 
to the bloodshed in the zone of the Che- 
chen conflict,” said the statement, released 
in the name of the government. “Those 
who fail to lay down their arms by Dec. 15 
trill be responsible lor the consequences of 
their criminal recklessness.” 

But the chances for peace in the north- 
ern Caucasus grew less likely by the hour 
on Wednesday after the Chechen delega- 
tion walked out of truce negotiations in 
Vladikavkaz, SO kilometers (50 miles) from 
Grozny. Instead, pitched battles erupted at 
several central points near Grozny. Rus- 
sian television on Wednesday night 
showed film of dozens of houses aflame in 
the village of Pervomaiskaya. 16 kilome- 
ters northwest of the capital. Russian 
fences there launched missile attacks, ac- 
cording to reports from the scene. 

A Russian cabinet official, Nikolai D. 
Yegorov, told the Interfax news agency 
that Russian troops would not storm 
Grozny before Thursday. It was the first 
time a senior Russian official had implied 
so directly that Russian forces were pre- 
pared to do just that. 

Grozny seemed under siege Wednesday, 
according to reports from inside the city. 
Streets were deserted, many shops were 
closed, and prices for increasingly scarce 
goods shot up. 

At the other side of the Chechen border, 
nervous Russian officials kept a tight lid 
on information, banning reporters from 
visiting military hospitals, interviewing 
soldiers or even entering the Russian mili- 
tary command post of Mozdok. 

Sergei Kovalyov, the head of the human 
rights c ommissio n of the Russian Parlia- 
ment, had planned a fact-finding mission 
to Chechnya, but after initially agreeing to 
take him, the Russian militar y dropped 
him off at an airfield near Moscow. In 
response, he said he would walk to Grozny 
if nobody would permit him to fly there. 

Vice President A1 Gore arrived in Mos- 
cow on Wednesday and, while the issue of 
Chechnya will clearly be addressed in dis- 
cussions with Prime Minister Viktor S. 
Chernomyrdin, Washington repeated its 
general support of Russia and its desire 
not to interfere in what it views as an 
internal Russian dispute. 

But in Moscow, supporters and oppo- 
nents of President Yeltsin warned that 
Russia seemed on the verge of embarking 
on a long, hopeless struggle for a region it 
could almost never hope to fully control. 

“You would have to know absolutely 
nothing about Russian history to behave in 
the Caucasus like a bull in a china shop,” 
Vyacheslav Shostakovsky, a liberal mem- 
ber of the parliamentary faction beaded by 
Grigori Yavlinsky, said in an interview. 
“The war Russia fought for decades under 
the czars never led to victory even though 
Russia had an army with the same strength 
as the one that defeated Napoleon. The 
war ended only when it was resolved that 
people in the Caucasus could live as they 
pleased.” 

Newspaper editorialists and liberal poli- 
ticians attacked the president, questioning 
the timing of the invasion and voicing a 
common concern that the political ten- 
sions and fears will be used as a pretext to 
introduce a state of emergency in Moscow 
and other major cities where Chechens live 
and work. 


Guess What Is Towering, Prehistoric and Still Alive in Australia 


■ Compiled by Ow Staff From Dispatches 

SYDNEY — Scientists have discovered a real-life 
Jurassic Park. There are no dinosaurs in this lost world 
— just 39 prehistoric pine trees that were thought to 
have been extincL 

The trees, related to a species that existed 150 
milli on years ago, have been found west of Sydney, 
but the New South Wales government said Wednes- 
day that it would keep their exact location secret to 
ensure their safety. 

The previously unknown trees, some measuring 40 
meters (130 feet) laS and three meters in diameter, are 
in a deep gorge in the Wollemi National Park, about 
200 kilometers (125 miles) west of Sydney in the Blue 
Mountains. They have been named the Wollemi Pines. 

“The discovery is (he equivalent of finding a small 
dinosaur stffl alive on Earth,** said Carrick Chamber, 
director of the Royal Botanic Gardens. He said 
Wednesday that the only other discovery of its kind 


was in 1 944, when another prehistoric tree species was 
found in China. 

“It really is a living fossil,” said Barbara Briggs, the 
institutions scientific director. 

A National Parks and Wildlife Service officer, Da- 
vid Noble, came across the trees while exploring a 600- 
meter (965-foot) gorge in the park in August. 

“Initially, I didn’t think it was anything new ” he 
said Wednesday. 

The trees, covered in dense, waxy foliage with 
distinctive bubbly bark that makes them look as if 
they are coated with brown chocolate, occupy a tiny 
5,000-squarc-meier grove of prehistoric rain forest in 
the 500,000 hectare park. 

So Far, 23 mature trees and 16 younger ones have 
been found, making them also among the world’s 
rarest plants. The oldest tree is believed to be from 200 
to 300 years old. 

While the trees can be identified as pines, or coni- 


fers, their closest relatives are extinct plants only 
found in fossils from the Jurassic and Cretaceous 
periods about 65 million to 200 milliofl years ago, said 
Km Hill, a botanist with Sydney Botanic Gardens. 

“This is probably one of the most significant botan- 
ical finds of this century,” Mr. Hill said. “It’s a very 
exciting find.” 

The discovery of the trees had been kept a secret 
with only a few scientists notified, but a Sydney 
newspaper broke the story on Wednesday, prompting 
the New South Wales government to confirm their 
existence. 

"Their location is going to be kq>t secret and we will 
be ensuring that, both in a security sense and from a 
fire protection point of view, because we don't want 
this unique area trampled upon or damaged in any 
way,” said the New South Wales environment minis- 
ter, Chris Handier. 

“The fact that such a large plant can go undiscov- 


ered for so long is a clear indication that there is more 
work to be done before we can say we understand our 
environment,” he added. 

Ms. Briggs compared the discovery of the pines to 
those of the codacanth fish in 1938 off Madagascar 
and the dawn redwood tree in 1944 in China. 

Once, the Wollemi Pines would have covered vast 
areas of the world, but as the climate changed the few 
remaining trees survived only in this damp, protected 

is a plant family that was widespread, includ- 
ing the northern hemisphere,” she said, before the 
“great extinction” when “we lost the dinosaurs.” 

“It's been in a very sheltered spot and 1 think it's 
escaped fire for a very long time," she said. 

“it’s extremely inaccessible,” Mr. Hartcher said. 
“It’s a good day’s walk Far anybody who wants to walk 
to the area. There are no paths there.” 

{AP, Reuters) 


- 1 ! 



fsif s i> ^*1 l- d irjnN 


liter Crash, VS . PWg»* Ti^ur CWnaw PiaDeSalfe^ 


jumrniMATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 15, 1994 


WORLD BRIEFS 


The Asaoaaad Prea 

MORRISVILLE. Norih&roljna - G™ 


an commercial anauuu — p«iaan- 

British Aer<> 

NorthCarolina whrn “ In- 

0f 1 f w L° second cash 

ofa' hop 0 £ about 60 miles (100 

‘fiSsS^Bssr? 

IT’-n.eS^P^fSsemhaB *»d 


S-®SSft5S3g £££ 

foiling the safety standards of 

But hesaid the Transportation Department 

and Federal Aviation Administration would 

•tffiKU is in the process of hiring 
300 ^e fetors, will b<*in an to™*** 
safety audit ofevery earner, large and small, in 

^•TheTransportadon DepartmOTtwDlfinjsh 
rfevaUM commuter safety standards to the 
level ofregular airline safety standards Mthm 
100 days. That includes pilot trai nin g, flying 

senior ffight^perators and pflots of all airlme 

Por- 


tion of the travel business, '“O™ 

50 million passengers last year. Most g 
smaller planes carrying a — 

sengers, which face less smngent ^nmaot 
rules than larger aircraft. Planes of 31 or 

s«S are r^ted under the same rules as the 

**?£ sXsty concern for But 

pilot fatigue from demanding 
Teresa Hanson, an Amencan Eagle spokes- 
woman in Texas, said the pilots m the Nor* 
Carolina crash had not been flying the entire 
day. . . . , 

David Hinson, an FAA administrator «ad 
there were no radio transmissions from 

plane that gave any clues about the crash, we 

have no idea what may have been the cause of 

this crash,” he said. . , . , . n 

Jestream Super 31s had problems with tail 
- ■ i i iiu>» rtrf.k'ipm was corrected 


FAA banned those pta* ^^twedc > fa 
smaller version, the ATR-42, y 

conditions where *“£““£[ ^ has a history 
But the Jetstream Super 3 1 "Sorw* 

of crashes in similar wathff. 

a United Expre» Jetstrwm ^ 

on approach to 30, 1991, a 

six people aboard, andonJ • crashed 
USAir Express Virginia, 

while trying to recorder 

Officials recovered the *r ues . 

and the coftpii /Stored to the 


Khamenei Turns Down Shiite Post 

Amx.rfiah Saved AU Khamenei, the su- 
TEHRAN CNY^ ^ Wednesday's 

mwne rdisous leader vr«M-i« Taolid, or spiritual leader 


W 1 

P ^ 


of the «^^Jy:SresDonsibilities m his decision 
i mend. 55, cited pdh . .he death of Grand 


Jetstream super ~ ~ I cj i 

icing early on, but that problem was corrected 
after a 1991 crash. Mr. Hinson said. 


after a 1991 crash, Mr. Hinson said. 

The plane is a twin-engine turboprop, that, 
of a different design from the ATR-72 used 


<muu& in — — .j -- f „ ■ j aj Maruco, * 

relatively young^airaaa ^ made 

^^H^F^^omur, 


need to aauu ^ T- n l oQQ 

Khomeini, who died in »»»- . r 

aSy” would not run asacaraUdatft most popular leftist figure 
Mr. Lang, who ^^^(SE^dentfrom 
the withdrawal of the Europ^ r 


fessssffissa®- 

that it had 54 of them. 



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Berlusconi Faces 
Legislative Revol 


Coalition Partner Backs Move 
For Broadcasting Commission 

A it ", .. i uport Ills oolitic 



By Alan Cowell 

ffew York Times Service 

ROME — Italy’s Norton 
League coalition partner moved 
into open revolt Wednesday in 
Parliament against the govern- 
ment of Prime Minister Sflyio 
Berlusconi, feeding bitter divi- 
sion within the administration 
that was supposed to lead the 
lan d into a new era. 


of interest between his political 
duties and his business actm- 

0C Mr. Berlusconi, though, has 
taken all the assaults against 
him as evidence of a huge plot 
against him. 

“The conspiracy against me 
and my government is so vast 
that it can be compared to a 
coup d'ftaC Mr- Betooom 


S"^lSd E Sn«ind*idin g i , S n«ts K p . 

IIS to Honor New Zealand ship to 

L OTGTON(AP)^^ s S^ { P^W^- 

Zealand had been strained a«e ^ ^ear-powered ship 
land announced to no ^^^^riSn adopted a poto of 

jSd? S made New P^^^Beeman, said in a speech 

But the US. ambassador, s°^adSSifi its “no dedara- 
Wednesday to while the ^- s ^^DudSr-anncd ships to New 
tkm” policy, it also wwdd imaem j to xtsaKf ^ 

a deployed fathe 

Pacific are not nudear-anned. 

Pakistan Parties Unite Over V iolen<* 

rawoinu £nmMA __ Pakistan’s rohng and 


£ ? : J <c > 101 


c#r r -. 


i; 

P:lUS> ] - a 


ISLAMABAD, 


Wednesday to agww a ^ ^ 

Karachi to decided to form a com- 

.T^ ^ropoK remedies to seh. 


land into a new era. sSd in an interview published 

The development offered Mr. ^ referring to the 

Berlusconi tittle «^ite only a economic and 


IJUIUOVVUA * _ - 

day after he spent seven hours 

, :_i_»u.arinn hv antl- 


eraii uidftuuai.^ “ — r : 

said late Tuesday that the mter- 
rogation had produced no evi- 
dence to support their allega- 
tions of corruption against mm. 
If. OnJnrmni vnwed to 


myriad judicial, economic and 
political crises confronting nis 
administration. ' 

If the Italian leader had 
hoped his apparent victory over 
the Milan magistrates might 
bring relief, there was little sign 

P . _ • .1 i mrirc OHW. 


tions of corruption agatohim. critics were 

Mr.Berluscomhasvmvedto ^^^o^ the heat 

remain in office. But, to listen re^y ^ 


DyUa Martma/Reaten 


remain in office. But, to listen y streets of Rome, 

to the nmm 

Northern League tdli^bis random conversations about 
is up less than nme months after or ran sbQuld remain in 


POLITICAL TOUOI - 

Northern Ireland, as tas wife, Nonna, center, rooKea ou. *6“ 


Ireland 


he was elected. 

“The Berlusconi chapter is 
dosed,” said Marco Formen- 
tini, the Milan mayor and 


m loiiuvui — 

whether he should remain in 
office or not. This was a marked 
change from the heady days of 
March, when elections pro- 


tini, the Milan mayor ana coalition 

League member, echoing bw- SSce M Uie «n- 

tne newspaper ejtonals to a new Italy after years 


4sa~S5£S5 SSSSSE^I 
SSSMp'fi ^gssizs S&ncsal 

province as peace took hold. "• J 


made the same point. 

The rambunctious coalition 
partner has the parliamentary 

• Armm fflP OOV- 


Udl UH/IO iw 

blems of a new Italy after years 
of corruption. 

“He’s a businessman, an en- 


P^^SSSSS tertaben hereUspe^e smoke 
numbers to bnng down the jov d n0 pro- 

eramenL anthmeuc it of m behind the 

uses as it takes cases to the g n stefano Vallini. 


Uico 03 »«. , 

brink only to ease bade later. 

In recent days, though, its of- 
ficials have joined a wave of 

■ kir- RprlticrGni 


ti aiu uvinH^ — — — — — , . 

smoke” said Stefano Vallini, 
32, an arcfaitecL But others said 
that Mr. Berlusconi’s departure 

■ . , _ 1 tka cnnn. 


Goals have jornol a waw oi d ^ . enhance the coun- 
protest against tr?? deepsense of political drift 

that spiU^noisUy mto Pariu- Sit c^es for a new identity 


2 Rare Quakes Panic French Ski 

0 REN 0Br E " ™ - Mg; SiSsSSa 


that spiUed noisily mm raim- a new identity 

CSdSicot, after shedding its comipt old 
in vntine m suaro. . 


The National Assembly “^^^^STr^edies to solve 

South African Police Official Killed^ 

EAST LONDON, Sou ^ firi S^^W hiTvSftaAe'^M 
S’ U ^ A Sr P Sh^Und of Wei, .he poliee 

Umtata on Tuesday night was unclear. 

Bening Seeks Technology for Dam 

BEIJING (Reuters) -—Prime Minister UP^g 

feasibility study and two mfflimi kilowatis of 

— 8 " 

to be relocated as part of the project. 

Greek Workers Strike Over Budget * 

dSSSS^SSSSSE 


GRENOBLE, France — fice in the French Savme town anothertrcmor shook the 

Two earthquakes in an hour set of Annecy said thetranor’s epi ai ^* A monitoring ser- 

off panic in parts of the French center was m La Roche-sur re<ristercd the second quake 

Wetasday ?s bmld- Foron. halfway between Anne- 
ings cracked and furniture was cy and Geneva. between 4 and 5 

shifted by tremors. i t was fdt as far away 35 on the open-ended scale are 

people ran mto the streets m Qcucv% ^ upper floors of the in ,, ? n y powerful enough to 
towns and sb resorts as me nisi u nited Nations European cause heavy damage in populat- 
quake shook aparunente and beadquaiteTS at the Palais des ^ 

office bufldmgs. TteSmbas- NatioQS and in tall buildings in ^^'5 scale is pretty 

mdoffcal&srvicem&ixi^hrg the city’s business district. exceptionalfor France,” PieiTe- 

Smr^ile^ The Swiss service recorded Yves Band, a Savoie 1 monitoring 

Kicnter scaie. — r^ntm- scientist, said after the 


VAX wan*. »■* r* , ... 

Alps on Wednesday as build- 
ings cracked and furniture was 
shifted by tremors. 


turned on. Everything trembled 
for several seconds." 

Residents said the first quake 
was short but strong. 

An employee at the Annecy 
town hall told France- Info ra- 
dio: “We’re getting calls non- 
stop from people here and w 
other towns.” 

Another resident of Annecy 


munis l opposition in voting m 
favor of a commission to review 
Italian broadcasting. 


guard. 

“There is a moment of great 
instability in Italy right now 
j n~i...nnni*c rpcnmation 


'rSSFjs is:LT£ 

isssrSsMEt aasrttf ““ ^ 


on Lamella, 44, a painter and au- 

conunercial television net- thot^ ^ ques _ 

i .1 minictpr r»n 


travel update 

Amtrak to Cut Routes and 5,500 Jobs 

ctmiomN f API —The U.S. passenger railroad Amtrak, 


commercial television net- 

worirs, which are aheady under ^ to ministef on 

chaUengebyarourtmh^to were seeking to sub- 

no one may own more than two suspicions that he 


■1 IIMIIIV aa D" . “ 

eliminate about 5^00 jobs 
nger train service. 


percent 


networks. 


International 

Classified 

Marketplace 


ations and in tall buildings m quad's scale is pretty 

e city’s business district. exceptional for France," Pierre- 
The Swiss service recorded Yves Bard, a Savoie monitoring 

1 center scientist, said after the 

| first quake. “We register similar 

• tremors once every five years m 

riONAL Franc^andthey are even rarer 

He said the last tremor of a 

Irltli similar scale to hit the area was 

| | B a _ in December 1980. 


impression somebody was " in o Ublisb m£ to secure lenient auai is. irwiu- 

sh airing my bed. The funuture SSSfitoSShaw vestigalors themselves have 

moved, the chandelier and the advertising an charces made no official comment on 

Son were both pushed a the interview and, accorfing to 

bit” by “* foes judicial practice, have several 

■ J i * to rirnn 


Mon day 

International Conferences and Seminars 
Tuesday 

Education Directory 
Wednesday 

Business Message Center 
Thursday 

International Recruitment 

flS Estate Marketplace, Holidays and Travel 

Saturday 

Arts and Antiques 


L uactuun * /““■ 

A spokesman at the town hall 
i La Qusaz ski resort said that 

kiftlrtincrc And! 


Britain Wins Banger Battle 
As Brussels Bends the Buies 


UJ 1X1 Vliwwi , 

several public biddings ana 
blocks of apartments were 

cracked by the first tremor. 

“Everybody got out into the 
street, said a local official, Phi- 
lippe Codron. “We thought it 
was a gas explosion. It was as u 
a huge pneumatic drill had been 


Plus over 300 headings in International Classified 
Monday through Saturday 

For further information . contact PW 
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LONDON — The British “banger" has to 11 
extinction after a compromise over new European Union 
rites was reached in Brussels, the Ministry of Agriculture said 

W Nev?EU hygiene regulations for minced meat, an essen rial 
ingredient of the British sausage, were ounoicly sinct be- 

and mince for use in cooked food. B h 

“The original rules would have scuppered our British sau 
sage," a Ministry of Agriculture spokesman s^d. 

Agriculture Minister William Waldegrave called the dea- 

S, °“It ^rSolo^us^omutinue to 

j or*- a ‘,-i.inle food fcrr many Bntisn 


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Scheduled Airline 
See your Travel Agent 
or call tParis): 44 56 1 8 08 
•plus tax 


“It will allow us to continue w h 

and sausages which are a staple food for many Bntish 
famto^iile ensuring that other countries where imn^ 
meat k traditionally eaten raw can demand the different 
microbiological and quality standards their consumers need, 
he said. 


judicial pidcin^, iM'v 

weeks to decide whether to drop 
the inquiry or ask for a triaL_ 

Politically, the prime minis- 
ter’s assertion that he had been 
exonerated should have re- 
moval one source of pressure 
on him. But his adversaries ap- 
pear to have merely refocused 
their sights on Mr. Berlusconi’s 
television holdings and his rela- 
tionship with the judiciary. 

In Parliament on Wednes- 
day, loud arguments broke out 
after Northern League deputies 
voted with the former Commu- 
nist Democratic Party of the 
Left to institute a special com- 
mission on broadcasting, in- 
spiring Mr. Berlusconi's sup; 
porters to shout “resign, resign” 
at the lower house speaker. 
Irene Pivetti, herself from the 
Northern League. 

Additionally, the League’s 
leader, Umberto Bossi, is trying 
to win approval for a parlia- 
mentary statement accusing 
Mr. Berlusconi’s Justice Minis- 
ter, Alfredo Biondi. of trying to 


Feb 1 with some routes oemg aumw^ y 

raihoad officials announced. Amtrak’s prudent, Thomas M- 
Downs, said the system could no longer afford to maintain its 

aasasasaasasgsgaa 

Segments of several other routes wifl be dosed. Most of the 
savings will come from reducing the frequency of trains. 

Hostesses and stewards of Air France will strike on Friday to 
orotest changes in pay structure and chronic understating, tne 
CFDT union said inParis. The airline said that the one-day stnke j 

would cause “no disruption” of service. (TU-r) 

The revamped Queen Elizabeth 2 left Hamburg for Southamp- j 
ton, England on Wednesday after a 22-day, $45 million refurbish- 
menL The 984-root (299-meter) luxury ocean liner was toimdcrgo 
sea tests on the way to England. (Reuters) 

Passengers transferring at Sdriphol Airport in Amstankun can 
now fill their layover time with any of three two-bour guided tours 
of Amsterdam and surroundings offered by a Holland Tours 
SchiphoL, a Dutch tour operator. (ATI) 

Austrian meteorologists say snow is on the way, raising the ^ 
hopes of thousands of hoteliers and seasonal workers m Alpine 
resorts after the wannest December in 76 years. ( Reuters ) 

A diphtheria epidemic in Soviet Georgia has killed 15 people in 
two months and is spreading amid Georgia’s worsening economic 
crisis and the virtual collapse of the state-run health care system, 
according to an infectious disease expert in Tbilisi. (AP) 

Jordan has agreed to let Israel run daily bus services to link 

T¥_:r_ I T„l A niitk Amman inrt Tm1s»I with Anatvi ATI Israeli 


Jordan has agreed to lei israei run uauy dus services i 
Haifa and Tel Aviv with Amman and Eilat with Aqaba, an 
Transport Ministry spokesman said Wednesday. 

A. Tt.Ju.J~. ,lwu»ul mnumal Mniar will O.M nff th<» on* 


Transport Ministry spoxesman saia wwmcsaaj. y 

A new Barbados-based regional esnier will get off the ground in 
February, airline directors said, after signing a $4.8 million loan 
agreement with the European Investment Bank in Kingstown, St. 
Vincent. The loan was the last step needed to launch the new 
carrier, Carib Express, which will compete with the 



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Page 3 


THE AMERICAS/ 


Tax Reductions for the Middle Class? It’s About Politics, Not Economics 


B>' David E. Rosenbaum 

G ™ r^Chlic^ have rheir 

- SS2SS*^ i y«Ww tax cut. NO! 10 be one- 

soSh7^ n S ,Ve A. Gephardt of Mis- 

own nlan T^ S ^ DciI ^ raliy leader- has offered his 
forward hi ^T 651 ^* 5111 Bill Clinton will probablv pul 

, lo ™** *»“ « a speech Thursday night. ' 

- frieh!fi»Mv 0posais ■ have m common that they arc 
-.tSSrS! y . cx l* ni5lve “* of losi revenue and 

offer*™^ 0 ^ Spre ^ d money so thin that they 

- pizza aweej£ mCOrne ^ am *^ es less than ihe com of a 

econOTnisr 1 5 ’ regardless of their politics or 
oology, view such tax cuts as a lousy idea. This is 
ui pnsmg. Proposals for a middle-class tax cut 
are not about the economy. They are all about 
political positioning. 

7 Gephardt's plan would reduce the taxes of 
Households with annual incomes below S7S.OOO. In a 


speech Tuesday, he said. “We ought to be focusing 
help u> the hard-pressed, squeezed, middle-income 
families that are either standing still or have been 
moving behind for the last 15 years.” 

In other words, the swing voters who determine 
election results. 

Neither Mr. Gephardt nor his staff would say 

S NEWS ANALYSIS 


With Dependent Children, the main federal welfare 
program. 

Mr. Gephardt said he would find spending reduc- 
tions to offset the tax breaks, but he declined to be 
specific 

The plan being pushed by Mouse Republicans 
would offer each family with income below S200.000 
(99 percent of all taxpayers) and children in the 
household a 5500 tax credit for each child. That 
means that a family with two children would have its 
taxes reduced by $1 .000. The 64 percent of taxpayers 
exactly how much his plan would cost or how large a who have no dependent children would get nothing, 
tax break he was contemplating for each family. The Republican staff of the House Budget Com- 
But say he decided to offer each family $300 a mince has estimated that the plan would cost the 
year, or about 82 cents a day. In 1991. the last year Treasury about $20 billion a year. IRS figures show 
for which statistics are available, there were 107 that about 40 million taxpayers have children and an 
million taxpayers, about 94 percent of the total, with income less than $200,000. 
pretax income below 575,000. Politicians of both parties obviously believe such 

If each one got a tax cut of $300, it would cost the proposals to be good politics, but if opinion polls are 
government $32.1 billion, half again as much as the to be believed, the public is not particularly con- 
government spends each year on Aid to Families cemed about taxes nowadays. 


Robert J. Shapiro, a campaign adviser to Mr. 
Clinton in 1992 and now director of economic stud- 
ies for the Progressive Policy Institute, is one of the 
few economists to advocate small tax reductions for 
middle-income families, and he does not do so on 
economic grounds. The institute is the research arm 
of the Democratic Leadership Council, moderate 
and conservative Democrats formed to push the 
party to the center. 

“The argument is a social policy argument, not an 
economic argument,** Mr. Shapiro said. After years 
in which tax breaks were given to the wealthy (the 
Reagan years) and the poor ( the eamed-income tax 
credit), the middle class should have its due. he 
maintained. 

“People in the political class think $300 or S400 a 
year isn’t meaningful, and if you make S 100,000 a 
year, it isn’t," he said. “But if you make 525,000 or 
530,000 a year, it can be rent for a month or two.” 

Economists and tax policy analysts say this is 


precisely the wrong lime for such political position- 
ing. 

“We can’t afford it,” said Robert S. McIntyre, “If 
they have extra money, why don't they cut the deficit 
or build a bridge or something?" Mr. McIntyre is 
president of Citizens for Tax Justice, a liberal group 
sponsored mainly by labor unions that does research 
and lobbying on tax issues. 

Norman B. Ture. president of the Institute for 
Research on the Economics of Taxation, looked 
from the other end of the ideological stage and came 
to a similar conclusion. 

“The question,” he said, “is what should we do to 
generate growth and savings and investment and 
technological innovation, and for those purposes a 
middle-class tax cut is irrelevant.” 

What really irritates the economists is that they 
believe a strong economy, like the one now. should 
be the setting for strong medicine, not sugar dough- 
nuts. 


■ Camp Crisis 
Worsens in 
; Cuba and 
Panama 

By Daniel Williams 

Washington Putt Sen ice 

^ . WASHINGTON — U.S- of- 
- ficials are groping for ways to 
empty the refugee camps at 
.. U.S. military bases at Guanta- 
namo Bay, Cuba, and in Pana- 
ma — quickly enough to avoid 
more riots by impatient detain- 
ees but slow enough not to at- 
tract a new wave of “boat peo- 
ple" from Cuba. 

The riot last week of Cubans 
., in Panama, during which more 
" than 200 U.S. soldiers were in- 
jured, added a sense of urgency 
” to the effort to find the refugees 
.. a home. 

On Tuesday, 500 U.S. sol- 
diers from Fort Bragg, North 
Carolina, and Fort Hood, Tex- 
as, arrival at Howard Air Force 
Base near the Panama Canal for 
' guard duty, joining 2,000 troops 
J ‘ already on duty at the refugee 
camp. In a show of force, the 
soldiers disembarked carrying 
rocket-propelled grenades as 
“ well as M-16 rifles and shot- 
" guns. 

U.S. military officials in Pan- 
N axna said that American troops 
j would protect themselves by 
_ “any means necessary." 

. Also underlining the impor- 
tance of finding new havens for 
the Cubans, the government of 
- Panama bas announced that the 
1 8,500 Cubans there must all be 
evacuated to some other coun- 
^ try by March 6. 

That would comply with an 
agreement signed with the ad- 
ministration m September to let 
them stay on Panamanian soil 
for six months. U.S. officials 
had hoped the deadline would 
be extendable. 

“All this is increasing the 
pressure to find a permanent 
place for the Cubans," a US. 
official said. “Say, March 
comes and we have to send 
them back to Guant&namo. Are 
they really going to want to 
go?" 

The riots and official re- 
sponse are the latest episodes in 
the saga of Cuban refugees, 
which began last summer with 
the exodus of about 30,000 Cu- 
bans trying to escape the Com- 
munist-ruled island. 

President Bill Clinton, who 
feared public criticism if lire 
wave of migrants reached Flori- 
da shores, dispatched the Coast 
Guard and navy to intercept 
them and take them to the U.S. 
naval base at Guantanamo Bay 
on Cuba’s southeastern tip. 
About 8,500 refugees later vol- 
untarily transferred to Pa n a m a. 

Also at Guantanamo are 
about A500 Haitians, who fled 
Haiti when the country was still 
undo- military rule but who 
have refused to gp back despite 
the return to power of Jean- 
Bertrand Aristide, the exiled, 
democratically elected presi- 
dent. 





four 1'nnfimv/Thc Aanatlcd Prc» 

SANTA CLAWS — “Hoe, hoe, hoe," here comes the Christinas punster in a Fargo, North Dakota, front yard. 


Away From Politics 


• Power was knocked owl to parts of eight 
Western states and the Canadian prov- 
ince of British Columbia when annajor 
power distribution system failed, offi- 
cials said. Among the cities most affected 
was Seattle, where more than 90,000 peo- 
ple were left without power. (Reuters) 

• Alarmed by the growing presence of 
hate groups in cyberspace, the Simon 
Wiesenthal Center has sent a letter of 


protest to the Prodigy on-line computer 
service. The Los Angeles-based center 
said it had tracked increasing activity 
over the last few months by 50 hate 
groups using Prodigy and the Internet 
global computer network. f LAT ') 

• A federal judge has cleared the way for 
Claude Daniel Marks, 45, and Donna 
Jean WiUmott, 44, to go free on bond. 

The pair, who spent nine years on the 
FBI’s most wanted list, surrendered to 
authorities in Chicago to face charges of 
plotting to blow up part of Leavenworth 


Penitentiary. They were ordered freed 
despite prosecutors’ objections. (AP) 

• In a surprise decision, the Michigan 
Supreme Court has upheld the state's 
controversial law banning assisted sui- 
cide, enacted ip stop Dr. Jack Kevorkian 
from helping people kill themselves. On 
the same day, the state House of Repre- 
sentatives passed a law banning assisted 
suicide for at least two years. (Reuters) 

• Police seized a gunman who had taken 
about 40 students hostage in a basement 
lecture hall at the State University of 
New York campus in Albany. (AFP) 


‘Gulf War’ Illness Vexes Doctors 

Tests of 1,000 Soldiers Turn Up No One Cause 


By David Brown 

Post Struct 

WASHINGTON — Military 
physicians who have examined 
about 1,000 soldiers complain- 
ing of symptoms known popu- 
larly as “Gulf War syndrome” 
can find no chemical exposure, 
infectious organism or Hisea^ 
process that explains the com- 
plaints. 

Nevertheless, in 86 percent of 
cases the physicians can diag- 
nose a known medical illness. 
The root problem in the re- 
maining 14 percent is still elu- 
sive. and those soldiers are be- 
ing tested further, according tc 
a Defense Department report. 

About one-quarter of the 
people examined have psychiat- 
ric conditions — such as de- 
pression, tension headache and 
anxiety — as their primary di- 
agnoses. Musculoskeletal dis- 
eases account for 16 percent of 
the cases; digestive diseases 7 
percent, and respiratory dis- 
eases 6 percent. 

Die diagnoses range across 
all the body's organ systems 
and represent the sorts of ill- 
nesses seen among young adults 
in civilian life. The findings 
generally recapitulate those of 
the Department of Veterans Af- 
fairs, whose physicians have ex- 
amined more than 17,000 Gulf 
War veterans no longer in the 
military. 

. “There is not a single agent 
here" causing illness, Stephen 
Joseph, assistant secretary of 
defense for health affairs, said 
at a briefing Tuesday on the 
military’s Comprehensive Clin- 
ical Evaluation Program for 
Gulf War veterans. He added 
that while it was “theoretically 
possible” that a single diagnosis 
would be made in the recalci- 


trant cases, he believed that 
those cases also would ultimate- 
ly prove to have many causes. 

About 11.000 aciive-duiy. 
Reserve or National Guard sol- 
diers have registered in the pro- 
gram since it was established in 
June, most by calling a hot line 


About 60 percent 
of the people 
complained of 
fatigue, 55 percent 
of joint pains, 50 
percent of headache 
and about 45 
percent of memory 
loss or sleep 
disturbances. 


set up by the Pentagon. By the 
end of November, 1,019 had 
been fully evaluated and about 
8.700 were undergoing medical 
interviews and testing. The rest 
have declined evaluation or 
have not yet been contacted. 

The spectrum of complaints 
is similar to that seen by Veter- 
ans Affairs doctors. About 60 
percent of the people com- 
plained of fatigue, 55 percent of 
joint pains, 50 percent of head- 
ache and about 45 percent of 
memory loss or sleep distur- 
bances. 

A smaller fraction reported 
other problems, such as rashes 
and depression. Some of the 
registrants had been previously 
examined by military physi- 


cians, but many were mention- 
ing their illnesses for the first 
time. 

The evaluation program is 
two-tiered. Patients firsL give a 
detailed medical history, in- 
cluding reports of chemical, 
physical, infectious or emotion- 
al “exposures” during Gulf ser- 
vice. and undergo a physical ex- 
amination and routine 
laboratory testing. If no diagno- 
sis is made, they are sent to one 
of the military’s regional medi- 
cal centers for in-hospital eval- 
uation by subspecialists, more 
laboratory testing and diagnos- 
tic procedures. 

The 14 percent of undiag- 
nosed cases have all completed 
the second tier, Mr. Joseph said. 
They will now be referred to 
one of four “specialized care 
centers” — Walter Reed Army 
Medical Center and Bethesda 
Naval Medical Center in the 
Washington area, and two hos- 
pitals in Texas — where they 
will be evaluated anew. 

Ultimately, military physi- 
cians may review the mysteri- 
ous cases with consultants at 
the National Academy of Sci- 
ence’s Institute of Medicine. 

Mr. Joseph said the percent-, 
age of registrants given psychi- 
atric diagnoses was “expected,” 
and was similar to that seen 
among civilians going to adult 
general medical clinics. 

In response to a question, the 
assistant secretary said there 
was no evidence that a drug 
called pyridostigmine, which 
was given to many soldiers for 
short periods as a partial pro- 
tectant against gas attack, or 
pesticides, or a combination of 
the two, accounted for the Al- 
nesses seen in Gulf War veter- 
ans. 


New Rules Drafted onAu Pairs 


The Associated Press 

WASHINGTON — Au 
pairs, young people from 
abroad who help out in Ameri- 
can families, would have to be 
paid at least the minimum wage 
and work no more than 45 
hours a week under regulations 
proposed Wednesday by the 
U.S. Information Agency. 

Moreover, no au pair would 
be allowed to care alone for 
infants or be placed in a family 
with children under age 2 unless 
she were at least 21 and had 
documented child-care experi- 
ence, conditions that the head 
of one au pair agency said 
would probably force him out 
of business. 

“Even though it’s well-mean- 
ing, it’s trying to make a profes- 
sional child care program out of 
something that was essentially 
an exchange program," said BAl 
Gustafson, who runs EurAu- 
Pair for the nonprofit American 
Scandinavian Student Ex- 
change in Laguna Beach, Cali- 
fornia. 

Under the proposed regula- 


tions, families also would have 
to contribute up to $500 to be 
used by the au pair for college 



Agen- 
cy, which issues au pair visas. 

In 1990, the General Ac- 
counting Office determined 
that au pair programs were not 
consistent with the agency’s 
mandate to foster educational 
and cultural exchanges. It noti- 
fied sponsoring organizations 
and also asked Congress to 
transfer responsibility for the 
program to another govern- 
mental entity. Congress de- 
clined but gave the agency au- 
thority to adopt regulations. 

Under the proposed regula- 
tions, au pairs: 

• Must be paid at least $155 
per week. 

• Will be cleared through 
background review, in eluding 
thorough checks of references 
and any criminal record. 

• May not work more than 


45 hours per week, or more than 
9 hours on any day. They must 
receive a minimum of lfe days 
off per week, plus one weekend 
per month. 

• Must receive two weeks of 
paid vacation. 

• Will take part with host 
families in quarterly training 
sessions, arranged by the au 
pair organizations, to enhance 
their understanding of cross- 
cultural issues. 

Any sponsoring agency that 
fails to comply with the require- 
ments may be removed from 
the program, but Mr. Duffey 
conceded it would be difficult 
to monitor working conditions. 

The proposed standards are 
open for 30 days of public com- 
ment. 

Eight au pair organizations 
are designated by the agency to 
place such workers in American 
households under educational 
and cultural exchange visas. 
About 10,000 au pairs under 
this program are in American 
homes. 


POLITICAL NOTES 


Clinton Works on Tax Cuts 

WASHINGTON — President B01 
Clinton discussed possible tax and bud- 
get cuts with advisers as be readied an 
address to the nation outlining hisviaon 
for the future in light of new political 

realities. „ 

The White House press secretary. Dee 
Dee Myers, said the speech on Thursday 
night would provide an overview of Mr. 
Clinton’s plans for the last two years of 
his term, cast against the prc ^ >eC fi? 
rival Republicans controlling the U.b. 
Congress starting in January. 

The speech is viewed as a pivotal part 
of Mr. CUnton’s effort to recover from 
the drubbing handed, his Democrats m 
last month’s elections. 

“Now is a time to move beyond the 

Section and talk about the future, said 
added: “W^opera.- 

ina in a different world now. 

%lr. Clinton hopes the speech vnU re- 
establish him as a dominant political 
nlaver in Washington — a role that has 
gleeful Republicans 

are about to take oyer both houses 
of Congress for the first unw m 40years. 
Sid wmpoached upon by fellow Demo- 
Sits eagpr to show independence. 


The president said Sunday that he 
favored a tax cut for middle-class Ameri- 
cans, provided it could be offset by 
spending reductions that would not slash 
programs for the poor. (Reuters) 


D * Amato to Defer Hearings 

WASHINGTON — Die in 

Senate banking chairman, Alfonse _ _ 
D' Amato, Republican of New York, 
says he will he will defer Whitewater 
hearings indefinitely to stay out of the 
way of the independent counsel, Ken- 
neth W. Starr. 

After meeting with Mr. Starr and the 
oatgoing Banking, Housing and Urban 
Affairs chairman, Donald W. Riegie Jr., 
Democrat of Michigan, Mr. D’Amato 
said that be could not predict when Sen- 
ate bearings might begin, but that they 
would not start in late January or early 
February, as he had suggested recently. 
He predicted that when they did resume, 
they probably would stretch into the 
1996 election year. (WP) 

Republicans Pick San Ptego 

SAN DIEGO — Republicans have 
as the site of their 


selected San Diego as 


npiipnal presidential nominating con- 
vention in 1996. 

Die choice of San Diego for the 1996 
Republican National Convention is con- 
tingent on the negotiation of a satisfac- 
tory financial package with the city. But 
state and national party leaders said they 
were confident that there would be no 
hitches and that the decision essentially 
had been made. 

The proposed dates in the bayside San 
Diego Convention Center are Aug. 12- 
15, 1996. Democrats will convene in Chi- 
cago later in August. (L/17) 


Quote/Unquote 

Paul Tsongas. former Massachusetts 
senator and once a candidate for the 
Democratic presidential nomination, 
who is circulating a memorandum pro- 
posing a third party in 1996 to be led by a 
presidential candidate such as Colin L. 
Powell, the former chairman of the Joint 
Chiefs of Staff: “The currency here 
would be the moral authority, the kind of 
moral authority the administration clear- 
ly does not have and that the ‘Contract 
with America* cannot provide, since it is 
poll-driven." (AP) 


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THURSDAY, DECEMBER 15, 1994 

OPINION 


Herald 


JNTERNAI10NAL 



eribunc 


rvBusmD wrra tee new yoke times and the Washington poet 


Chechnya Test for Russia 


So brittle is the political scene in Mos- 
cow now that what could have been a 
pesky but manag eable policing operation 
in the northern Caucasus enclave of 
Chechnya has become a crisis of confi- 
dence for President Boris Yeltsin and a 

test for democracy in Russia. 

For three years Mr. Yeltsin endured 
Muslim non-Slavic Chechnya's cheeky 
declaration of independence, which no 
other state recognized. Suddenly he pro- 
nounced it unendurable and launched a 
covert operation to support Kremlin loy- 
alists — it failed embarrassingly — and 
then the current heavy invasion. No one 
has much sympathy for the gangster- 
ridden Chechen regime or doubts Rus- 
sia’s right to tame it But even the Rus- 
sian army seems embarrassed at the 
spectacle of its own awkward overkilL 
Win or lose; Russia will look the bully. 

In Moscow, democrats and liberals see 
the invasion as being planned, or at least 
used, to shrink their political space and to 
discredit not just Mr. Yeltsin, who has 
been running this operation from a hospi- 
tal bed, but also the whole movement of 
democratic reform. Among major fac- 
tions, only die ultranationalist Zhirin- 
ovsky party supported him in a Duma vote 


cmi Tuesday. People of all stripes, including 
the military, appear leery of getting 
bogged down in “another Afg h a n ista n -” 
Abroad, the episode is limy to be 
taken as one more lurch by Boris Yeltsin 
and as an operation that, although justi- 
fied as an act of a sovereign state within 
its own borders, raises the always upset- 
ting specter of Russian troops on the 
move — something to which dose atten- 
tion is paid throughout the fanner Soviet 
Union. A state like Russia with 100 na- 
tionalities cannot ignore an outright se- 
cession , but a state like Russia with 100 
nationalities must also attend to the ex- 
it sets in treating a difficult case. 


Mr. Yeltsin is being urged to reach a 
political settlement of the Chechnya 
ouickly and without unnecessary 
bloodshed. The enclave's presi- 


raatten 

further bloodshed. The enclave’s presi- 
dent, by all accounts a hustler given to 
taunting the Russian bear, does not 
make mis easy. An expeditions and 
somewhat dignified resolution, howev- 
er, would add measurably and usefully 
to the stock of political capital that Mr. 
Yeltsin definitely needs to conduct oth- 
er business, including his business with 
the United States. 

— THE WASHINGTON POST. 


Caribbean Fantasies 


Fidel Castro, conspicuously excluded 
from last week's Miami meeting of West- 
ern Hemisphere leaders, sat down after- 
ward with New York Times reporters. 
His mood was expansive, and while he 
acknowledged that he had no wish to 
import Western -style democracy, he re- 
cognized that the world had changed. 

Mr. Castro nevertheless seemed as sus- 
picious as evCT about the rewards of capi- 
talism for his own country, making no 
exception for his own tentative experi- 
ment with free markets. He seemed to 
hope that the small farmers' markets he is 
now allowing would give Cubans a new 
appreciation of the socialist state that 
subsidizes most of their food. 

That shows poignantly how out of 
touch the Coman dan te remains with the 
changed world around him. Wherever 
such markets have been introduced, from 
Eastern Europe to China, they have taken 
off. Individual enterprise has flourished 
wherever it gets a toehold. Mr. Castro 
deludes himself if he feels his halfhearted 
concessions to capitalism will teach his 
people lessons that the rest of the Com- 
munist world has rejected. 

When it comes to the U.S. relationship 
with Cuba, a strange sense of unreality 
pervades on both rides. Mr. Castro, ever 
the revolutionary romantic, believes that 
his tiny country, the one member of the 
hemispheric family to be denied a seat at 
the Miami conference, can remain a vir- 
tuous holdout against the capitalist tide. 

After successful negotiations with U.S. 
officials earlier this year that resulted in a 
new agreement on immigration, Mr. Cas- 
tro could have pushed the door open 
further by making some of the conces- 


sions demanded by the Cuban Democra- 
cy Act — releasing political prisoners, 
moving more decisively toward free mar- 
kets and democracy, He chose instead the 
small experiment in fanners’ markets. 

On the U.S. ride, legislators and policy- 
makers seem to bdieve that the strategy 
that has worked for the rest of the Com- 
munist wodd — the opening of markets 
and the free exchange of goods, people 
and ideas —is somehow inappropriate for 
this one small island. Cuba is denied ac- 
cess to America’s investment, its markets, 
its tourist dollars. This is hard to under- 
stand, since the policy of isolating Havana, 
which has prevailed in one form or another 
far three decades, has not succeeded. 

One explanation, of course; lies in Cu- 
ba's exile community, which has exhibit- 
ed a canny understanding of how to play 
the American political game. The Cuban 
American National Foundation, backed 
by wealthy Cuban-born businessmen 
who contribute heavily to the coffers of 
friendly politicians, will settle for nothing 
less than a complete humiliation of Fidel 
Castro and a triumphal return to tile land 
of their birth. Too many US. politicians, 
particularly President Bill Clinton, have 
encouraged their fantasies and avoided 
antagonizing them. 

So on both rides the fantasies persist 
Exiles in Miami plot their revenge. Mr. 
Castro entertains & guests in the splendor 
of the Palace of the Revolution, bdiding to 
the faith that he alone, through the force of 
sheer Leninist virtue, can withstand what 
felled his former benefactors. And UJ5. 
policy, by persisting in isolating Cuba, 
encourages the fantasies of both. 

— THE NEW YORK TIMES. 


How Clean Should Air Be? 


Just how clean do Americans warn the 
air to be in their cities — and at what cost 
in money and personal inconvenience? 
With Americans driving more every year, 
it is going to be extremely difficult to get 
air quality up to the standards that Con- 
gress decreed four years ago in its last 
revision of the Clean Air AcL Until recent- 
ly most erf the burdens of bringing auto- 
mobile emissions into compliance have 
fallen on the manufacturers and the oQ 
refiners. But that is beginning to change. 

Most of the air pollution from automo- 
biles is generated by a small proportion 
of the cars on the road, generally those 
that have been badly maintained or have 
beat tampered with. Any major reduction 
in future emissions is going to require 
enforcement that goes after those cars and 
the people who use or misuse them. That is 
why the federal Environmental Protection 
Agency began telling the states that they 
would have to require owners to bring 
their cars to central facilities for much 
more elaborate testing than the familiar 
tailpipe check of an idling engine carried 
out by local service stations. 

In a number of states the testing proce- 
dure has proved deeply unpopular, not 
least among service station owners losing 
business but also among drivers confront- 
ed with much more demanding rules and a 
much more time-consuming procedure. A 
couple of states have suspended or can- 
celed the new tests, and a substantial polit- 
ical opposition to them has formed. 

When Carol ML Browner, head of the 
EPA, met last week with five governors 
who have been leading the rebellion, she 
wisely agreed to drop the new inspection 
requirement. The EPA win accept alterna- 
tive plans to reduce highway emissions, 


she said, as long as they promise to pro- 
duce similar results. Bin it is difficult to 
think of any alternative that would be 


irritations and costs on individual owners. 

The EPA retreated on these tests be- 
cause it fears that otherwise the next 
Congress will return to the Clean Air Act 
— as some of its members have already 
threatened — and reduce its air quality 
standards. These emissions represent a 
genuine threat to the health of some peo- 
ple. But setting smog rules is like setting 
speed limits. It’s a matter of balancing 
health and safety against inconvenience 
for a population that does cot have a high 
tolerance for inconvenience. These is no 
obvious right level for automobile emis- 
sions. The states are now in the process of 
finding out what level their drivers — 
that is, their voters — will support 

— THE WASHINGTON POST. 


Other Comment 
lime to Press Ankara 

In sentencing eight Kurdish members of 
Parliament to stiff prison teems, the Turk- 
ish government evidently has decided to 
abandon all pretense of democratic stan- 
dards in settling the Kurdish question. 
Those parliamentarians embodied the last 
hope for apeaoeful solution. The time has 
come for western diplomacy to put con- 
certed pressure on Axikara to reach a polit- 
ical settlement with the PKK. for better or 
worse the Kurds’ only credible representa- 
tive. If Turkey wants to be part of Europe, 
it must observe European standards. 

— Neue Zurcher Zdtung (Zurich). 



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Russia Gains, Germany Loses, America Should Stay 


I ONDON — Let us try a bit of neo- 
* realpolitik. It is time to ask some 
hard-nosed questions about the past 
month’s balance-of-power maneuvenngs 
in and around Europe: 

This will distress those who thought 
that after the Cold War, powers no ' 
er maneuvered and realpolitik could 
lowered into the grave. Alas, events have 
shown otherwise. The world stays harsh- 
ly real; the calculations of international 
power are as convoluted as ever; hard- 
nosed questions are still needed. 

The chid? contenders in today’s realpo- 
litik are Russia, once again in vigorous 
pursuit of familiar Russian interests de- 
spite its economic and social fragility; 
Germany, back in its old pre-Cold War 
position as the power in the middle of 
Europe; the non-German Europeans, 
chiefly France and Britain; and the Unit- 
ed States. China sits brooding on one side 
of the competition and Islam on another, 
but neither is yet seriously involved. 

Who has gained most from the past 
month's moves? Undoubtedly, against 
all the apparent odds, Russia. 

The coming victory of a Greater Ser- 
bia in the wars of ex- Yugoslavia is a 
victory for Russia, too. By putting a 
cousinly arm around the Serbs, Russia 
has helped to deter the West from doing 
enough to save the non-Serbs. 

North of the Balkans, this month’s 
attack by Boris Yeltsin on the expansion 
of NATO prolongs the frustration of 
Central Europeans who want NATO’s 
protection and strengthens the do-nothing 
tendency within NATO itself. Russia’s 
desire to keep Central Europe as a tu> 
man’s-land between itself and die West 
has also contributed to the European 
Union’s slowness to open its eastern 
doors, revealed again in Essen this month. 

For a country supposedly fiat on its 
back, that is not baa. Now add the geo 


By Brian Beedfaaxn 

»J3SSAftW 

coeds in its presumed purpose 
the Chechens the rightof sdf-determma- 
tion — the Russians will have shewn mat 
they can subdue a sm^guariflaairoym 

§Sin both places the outcome would be 
avdctoiy for the imperial, mstrnct makes 
the contrast even more dismaying- 
How docs this affect the other con- 
tendere? The chief loser, plainly, is Ger- 

The Clinton people seemto 

have changed their minds. 

They have become much more 
rigorous toward Russia. 

many. Of all West Europeans, it was the 
Germans who were first and keenest in 
opposition to a Greater Serbia. The 
Germans have also been warm support- 
ers of the eastward expansion of the 
European Union and NATO. In all 
these matters, what is good for Russia is 
a setback for Germany. 

If on top of this Russia’s army now 
imposes Russia's wili in Chechnya, the 
Germans wfll know that the resurgent 
power on the other side of that no-man's- 
land to their east possesses a lot more 
military determination, than NATO does. 
If you are German, a newly tough-jawed 
Russia makes a worrying neighbor. 

And the non-German West Europe- 
ans? This is where things get interesting. 


It may be no accident that this late- 1994 
period of Russian ebullience and Ger- 
man discomfiture coincides with an ap- 
parent change in Germany’s relations 
with some of its partners in the European 
Union, especially with France. 

Both France and Britain now scan 
more hesitant about the expansion of 
NATO they used to be, and than 
Germany would Ore. France is raising 
various difficulties about opening the 
European Union to new members from 
the east. And all the leading candidates 
in France’s coming presidential elec- 
tion, now that Jacques Delors has 
pulled out of the race, are more openly 
skeptical about a federal future for Eu- 
rope than Frenchmen used to be, and 
than almost all Germans still are. These 
things are not unconnected. 

Ever since the two parts of Germany 
were reunited, the expanded power of a 
single Germany has been changing calcu- 
lations throughout Europe. One part of 
this recalculation is a growing reluc- 
tance in other countries to commit 
themselves to a European federation in 
which Germany might be able to collect 
enough s upp orting votes to overrule 
them. Hence the emerging possibility of 
an alliance between France and Britain 
to insist on a looser, confederal Europe 
in which that could not happen. 

The other possible part of the non- 
German Europeans’ recalculation is even 
more thought-provoking. In certain cir- 
cumstances (see the next paragraph), a 
stronger Russia could be a useful coun- 
terbalance to the strength of this new 
Germany. So take care, it could be ar- 
gued, not to push Russia into hostility 
toward the whole of Western Europe — 
for instance, by expanding NATO and 
the European Union eastward sooner 
and farther than Russia would Eke. Bet- 
ter a muscular but appeased Russia than 


a Europe fa which Germany had more 
muscle than anybody else. 1 

And the United States? If Ameri- 
cans thought they would ev^afiy^ 
ropidTout of Europe —as Bfll Chntan 
may have thought ayear 
might see Russia as a useful 
ancstoan otherwise 

first” pohey, which may have been based 
on just such a calculation- 
Now, however, the Omton people - 
s ffl fTi to have changed their minds. They - - 

, i l Msmtnic Inward 


Russia. It shows in their new zeal to 
expand NATO, in their recent decision 
to build np a potentially Russja-ccmtain- 
ing Ukraine, in their reluctance tojj p 
along with Britain and France in letting 
the Serbs win a Greater Serbia. . , 

Mr. Clinton may have become more 
rigorous toward Russia because he now 
tmnks that the United States can and 
should stay in Europe; that, if it docs, it 
can provide the necessary cotmierwcjght 
to Germany; and that Russia is therefore 
no longer needed for that purpose. If The 
newly powerful Republicans take the 
s am e Vie , i b is amounts- to a radical cha n ge . 
in the prospects for the 21st century. 

Some of this is speculation, but most :• 
of it is not. If you peer through ithe mfets» 
you begin to discern the looming shapes ; 
of tomorrow's world. 

Note, in particular, one looming fad _ 
It is not necessary to choose between a . 
Europe presided over by Germany and _a • 
Europe in which a clumsy new Russia is 
the only available counterpoise to Ger- 
many. if America stays in Europe, it ran 
do a much better and wider balancing . 
job. To most people between Vancouver 
and Vladivostok, that will seem the sensi- . 
ble way to venture into the new century.; . 

International Herald Tribune. 





\V 


• iv- 

■ ..■? ■ 

• " c 


Threats to Human Rights in Europe Are Threats to Security as Well 


■\7TENNA — It has been 46 
Y years since the United Na- 
tions General Assembly adopted 
the Universal Declaration of Hu- 
man Rights. The declaration pro- 
vided impetus for the ratification 
by European nations of the major 
legally binding human rights cov- 
enants that exist today. 

But in several member coun- 
tries of the Conference on Securi- 
ty and Cooperation in Europe, 
violations of the rights set forth in 
the Universal Declaration are in- 
creasing, driven mainly by ethnic 
nati onalis m. Some examples: 

In Croatia, the government of 
Franjo Tudjman tends to equate 
the defense of human rights and 
political dissent with treason. The 
news media are almost complete- 
ly state-controlled and have un- 
dergone a process of “ideological 
demising.” resulting in large- 
scale layoffs. Human rights 
groups, inparticular the Croatian 
Helsinki Committee for Human 
Rights, have reported on illegal 
and often violent evictions, most- 
ly erf ethnic Serbs and Muslims, 
by state authorities from apart- 
ments formerly owned by the Yu- 
goslav People’ s Army. 

The president of the Helsinki 
Committee is regularly vilified as a 
traitor in the press. When Slobo- 
dan Budak, a leading human 
rights lawyer, spoke out on possi- 
ble war crimes by Croatians, his 
house was destroyed. A young po- 
liceman confessed to the crime 


By Aaron Rhodes 


and has been released. Authorities 
daim it was a simple burglary and 
refuse to investigate evidence that 
it was an act of political terrorism. 

In Turkey, the government 
uses its anti-tenor law and penal 
code as instruments of repression. 
Eight Kurdish members of Parlia- 
ment charged with violating the 
anti-tenor law faced a possible 


The Conference on 
Security and Cooperation 
in Europe am effectively 
strengthen human 
rights protections. 


death penalty. At a hearing Nov. 
24, the State Security Court re- 
fused legitimate defense requests 
for the production of material ev- 
idence and examination of wit- 
nesses, making a fair trial impos- 
sible. The court proceedings 
violated at least two of the human 
rights covenants to which Turkey 
is a signatory. The right ultimate- 
ly received prison sentences of 
up to 15 years. 

Two members of the Human 
Rights Foundation of Turkey 
face charges of disseminating sep- 
aratist propaganda for the publi- 
cation of “F3e on Torture 3980- 


1994,” which documents cases of 
torture and death in Turkish pris- 
ons. But the international hu man 
rights community has noted that 
in 3993 alone, more than 20 peo- 
ple died in police custody in Tur- 
key. Sixteen Turkish journalists 
— mostly working for Kurdish 
publications — have been mur- 
dered in the past two years. No 
one has been charged. 

Turkey not only suppresses ef- 
forts to document and analyze 
these problems, it vociferously re- 
sists the presence of nongovern- 
mental human rights groups that 
raise these issues in the CSCE and 
other international forums. 

In the past two years, 23 Greek 
citizens have been indicted for 
criticizing the government’s for- 
eign and minority policies on 
■charges such as “disturbing for- 
eign relations,” “insulting the 
government” and “disturbing 
peace through disharmony.” 

One man. Christos Sideropou- 
los, president of the Macedonian 
Movement for Human Rights, 
has been charged with disrupting 
international relations through 
statements on the issue of the 
Macedonian identity that he 
made at a CSCE conference. 

On Dec. 2, Father Nikodimus 
Tsar Irinas was convicted of “im- 
personating an authority” for 
wearing an Orthodox clerical 
outfit; be is a member of the 


Macedonian Orthodox Church. 
The conviction was based on the 
argument that a Greek citizen 
cannot invoke his or her affili- 
ation to a non-Greek church. This 
serious violation of religious free- 
dom could have dangerous reper- 
cussions in the RaTVans 

Whale the established demo- 
cracies of Europe have softened 
their positions toward the Milo- 
sevic government in Serbia and 
contemplate acceding to the for- 
mation of a Greater Serbia, the 
citizens of that country are de- 
prived of virtually every civil and 
political right. 

The state maintains a strangle- 
hold on the media and is still 
attempting to gain control of 
Borba, the icmaining indepen- 
dent daily in Belgrade. The state 
media, having mobilized the pop- 
ulation against non-Serbs 
through a program of “hate 
speech," now seek to create inse- 
curity among Serbs. According to 
the Helsinki Committee for Hu- 
man Rights in Serbia, the police 
force numbers more than 80,000 
and is better equipped than the 
Yugoslav Army. 

Oppressive rather than protec- 
tive, these paramilitary police in- 
cessantly and gratuitously stop, 
search and otherwise harass civil- 
ians. “Ethnic cleansing” has con- 
tinued in Vqjvodina and Sanjak. 
In Kosovo, the Serbian regime 
has just arrested and 
tortured more than 120 ethnic , 


Argentina: Fight Barbarism From a Wall of Memory 


J ERUSALEM — In the earlj 
hours of July 15, 1976, my 
uncle and aunt, Hugo and Blanca 
Tamopolsky, their daughter, Re- 
tina, 15, their sou, Sergio, and his 
wife, Laura, were kidnapped 
from three separate locations in 
Buenos Aires. They were never 
heard from again. 

No neighbor admitted to hear- 
ing any ruckus as they were taken, 
no one raised an alarm and they 
became, in their echoing absence, 
part of the mass of desaparecidos 
under Argentina’s military regime. 

Last month, a landmark case 
was decided by Judge Oscar Gar- 
zon Funes of the Buenos Aires 
district court, in favor of the one 
surviving son, Daniel, who was 
18 at the time of the kidnapping 
and not at home. 

The decision granted Daniel 
S3 million — SI million from the 
state and $1 million each from 
two former military chiefs of 
staff, Emilio Massera and Ar- 
mando Lambruschini, whose 
connection to the murders had 
been established in earlier trials. 

The unprecedented ruling 
evokes the work of the great Ar- 
gentine writer Jorge Luis Borges, 
whose stories turn on the twin 
subjects of memory and oblivion. 

In one of those elegant ironies 
of histoxy, the presiding judge is 
the namesake of the Borges hero 
Funes d Memorioso, a man con- 
demned to memorize everything, 
his mind retaining detail after tiny 
detail until the burden of memory 
becomes his torment and undoing, 
as it has been Argentina’s. 

Judge Funes has struck a val- 
iant blow both for memory and 
for justice in a country whose 
shame for decades has been its 
unspeakable cruelty and deliber- 
ate forgetfulness. 

“Massera and Lambruschini 
were the incarnation of a despot- 
ic, lawless state that subverted the 
customs and morals of the peo- 
ple," reads the decision. “Democ- 
racy must compensate for the 
crimes of these individuals, and it 
is fitting that the slate itself pay 
some of the reparations." 

Thus, for the first time in Ar- 


By Noga Tamopolsky 


gentina’s blood-drenched history, 
military officers are being held 
personally accountable by a court 
for directing the mass killings of 
their compatriots. 

Judge Funes told the Argentine 
press, “My decision is based on 
only one thing; the defense of the 
right to live." 

From 1976 to 1983, when the 
country was ruled by a military 
junta, Argentine human rights or- 
ganizations say that as many as 
30,000 people were kidnapped, 
tortured and kflied. All were vic- 
tims of the military’s mania to 
eliminate supposed dissent and 
subversion. A high proportion of 
the desapareridos were intellectu- 
als, some were active in leftist 
causes or in civil rights organiza- 
tions, and a disproportionate 
number were Jews. 

The police displayed special in- 
terest in pregnant women, kidnap- 
ping them, keeping them alive un- 
til their babies were bom and then 
killing them and giving the infants 
to chadless military families. 

Daniel’s parents were middle- 
class Jewish intellectuals, with no 
involvement at all in politics. 

When the judge wrote “ democ- 
racy must compensate," he allud- 
ed to the fact that since 1986, a 
series of presidential decrees have 
subverted the due process of law. 

First came the *TuD stop" law, 
which held that after Feb. 22, 
1987, no more claims of human 
rights violations against junta 
members would be heard by the 
courts. This was followed by the 
“law erf due obedience," which 
absolved all soldiers and officers 
beneath the rank of colonel for 
responsibility for any actions 
they had committed. 

About 40 officers still could 
have been tried for human rights 
abuses when in 1988. faring a 
difficult election and yet another 
in a series of attempted military 
coups, President Raul Alfonsin 
announced a general amnesty. 

His successor, Carlos Saul 
Menem, an outspoken opponent 
of the amnesty while running for 


office, reversed himself once he 
became president In 1989, the 
year he was elected, he pardoned 
the remaining 210 officers con- 
victed in trials in the 1980s. 

Over the past two years, Mr. 
Menem has been singled out by 
the United States as a South 
American leader it can rely on. 

But he is not the visionary re- 
former he makes himself out to 
be. Within hours of the Nov. 17 
court decision in Daniel’s favor, 
Mr. Menem announced the gov- 
ernment’s plan to appeal. 

The appeal wfll gp to the Su- 
preme Court, five of whose nine 
members are personal friends of 
President Menem. 

The court, which can also serve 
as an investigative body, is han- 
dling the inquiry into the bomb- 
ing that killed 30 people at the 
Israeli Embassy in 1992. The case 
has languished for almost three 
years without a single witness be- 
ing interviewed. 

Mr. Menem has now presided 
over two farcical investigations of 
crimes against Jewish and Israeli 
targets, including the bombing 
that killed about 100 people at a 
Jewish community center in Buc- 
nos Aires in July. 

When I asked a lawyer close to 
the July investigation about the 
government’s progress, be said: 
“Forget about it. They’re not 
looking into anything." 

No one suggests that the gov- 
ernment is implicated in the 
bombings — amply that its inves- 
tigators are incompetent or afraid 
of what they might find, or both. 

Today, the only memorial to 
the thousands of desapareridos is 
a small forest in Israel, planted a 
few years ago by a private group. 

why is there no rage in Argen- 
tina? The Argentine novelist 
Marcos Aguirns said to me re- 
cently: “Remember, this is a 
country where even the non- 
Jews know they have no rights. 
Ask anybody on the streeL and 
he wfll tell you, there is one law 
for us, and one law for them. 
Nobody even expects justice 


here, and it is easier to forget” 

My cousin Daniel has his own 
perspective on memory and hon- 
or. Seven years ago, realizing that 
presidential pardons would re- 
lease the murderers of his family 
to the caffr-lined streets of Buenos 
Aires, he filed the civil suit for 
damages against them and 
against the state that he won 
— for now. 

The day after the derision, be 
wrote in a Buenos Aires newspa- 
per. “Why this lawsuit? The law of 
due obedience and, later, tbs am- 
nesty sought to throw a blanket of 
oblivion over the acts that took 
place under the junta. They strove 
Co silence everything, to cover, to 
erase, to deny. This is why. Ar- 
gentines, do not forget Memory 
is the only barrier against the re- 
currence of barbarism." 


7?ie writer is the Jerusalem cor- 
respondent for the New York- 
based weekly The Forward. She 
contributed this comment to The 
New York Times. 


banian framer policemen under 
the pretext that they had estab- 
lished a parallel force alongside 
the Serbian police. Their lawyers 
accuse the Serbian authorities at 
having violated Serbian law on 
pretrial detention — not to men- 
tion mtenutimyai standards.. "... 

While Russia seeks a renewed 
leadership role in international 
affairs, authorities do not enforce 
existing legislation a gains t those 
who organize aggressively nation- 
alistic, paramilitary f ormat ions . . 
and who use the media to incite 
the population to racial and eth- 
nic violence, which is unlawful 
under the penal code. ^ 

Nearly 200 natiraiafistic news-” 
papers and magazines are pub- 
u&hed in Russia, many erf which 
are blatantly anti-Semitic, em- 
brating the ideology and symbols 
of Nazi Germany. This rising 
“red-brown" movement, whose 
members often proclaim unity 
with “Serbian brothers,” is a 
threat not only to the human 
rights of minorities in Russia, but 
to European security. 

Meanwhile the CSCE has just 
concluded a two-month-long re- 
view conference in Budapest Hu- 
man rights organizations have 
lobbied strenuously for stronger 
commitments to protect huma n 
rights defenders, to uphold mini- 
mum humanitarian standards in 
crisis situations, to prevent tor- 
ture, and to ensure just and hu- 
mane treatment of refugees. 

Despite the failure to take con- 
structive action on Bosnia, in the 
final summit meeting, the results 
of the long and expensive Buda- 
pest meeting show that the CSCE 
can stifl become an effective 
me ch an i sm to strengthen human - 
rights protections. 

The meeting’ s final document is 
a step forward. It strengthens com- 
mitments to human right s j pyf • 
puts states under more pressure to 
stand by them. Members will have 
fewer excuses to ignore violations. 

But talk is cheap. Given the 
mounting threats to human right*, 
the states must take their new 
commitments more seriously. 

The writer is executive director of 
the International Helsinki Federa- 
tion for Human Rights, Vienna. 

This comment was contributed to 
the International Herald Tribune. 


letters intended for pubBcatbn 
should be addressed “Letters to the 
editor and contain the miter's 
signature, name and full address. 
Utters should be brief and an 
subject to editing. We cannot be 
ffsponsibks for the return cf unso- 
licited manuscripts. 




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IN OUR PAGES: 100, 75 AND 50 YEARS AGO 


1894: Graft Exposed 

NEW YORK — At last one of 
the Police captains has confessed. 
Captain Creedon, a man with a 
splendid war record and an admi- 
rable polios officer for the past 
twenty-five yean, has made a 
dean breast before the Lexow 
Committee. He testified to-day 
[Dec. I4J that he stoutly resisted 
official blackmailers for five 
years and waited for his richly 
deserved promotion. Finally he 
yielded to the temptation and 
paid $12,000 for the captaincy. 

1919: Compiegoelire 

PARIS — Fixe has destroyed part 
of the Ch&teau de Cbmpipgoe. 
The inhabitants of Compiegne 
had an alarm yesterday [Dec 14] 
at 3 o' clock, when the tocsin and 
bugle-calls aroused the people to 
see the left wing of the chateau in 
flames, and in spite of the efforts 


of the firemen, who arrived 
quickly, the Council Chamber, - 
one of the gems of the bufldmgi 
and Napoleon's bedroom, with 
its cefltog painted by Girodet, 
were destroyed, - - 

1944* Bangkok Bombed 

WASFONGTON -[From oor 
New York edition:] Superfor- 
tresses of the 20th Bomber Com- 
ipand based in India, striking to- 
^ jCpec- 14] at the southern 
reaches of Japan's stolen empire, 
attacked transportation centers 
at Bangkok, Thailand an d Ran- 
goon, Burma, 24 hours after the . 
major attack of the 21st Bombei* 
^oatniand on Nagoya, Japan. 
Results were good at Bangkok 
and excellent at Rangoon, an- 
nouaced General Henry H- Ar- 

k chief of the 
global 20th Air Force. One Super- 
fortress was known to have been 
lest over the target at Rangoon. 


0 







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J, i&o 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 15, 1994 


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O P I N I O !\ 


A Choice Now lor Clinton: 
Populism or Responsibility 

By Jim Hoagland 

W-revS^.T 1 ^ word “ gleam in a Gingrich eve. 
thrmioh a~_“. Uod A as echoed The Wallace-Climon-Ginurieh 


vsaeS 


through Amil! 11 0n . has echoed The Wallace-Clinton-Gingrich 

Nov 8 since the progression illuminates the com in u- 

While, oveTinD^ 1 H pnsin ^ Mean- n y 01 American character as Mr. 
once the Jacques ^ors, Delors does in France. After losing 

come Fran™?” 8 conlcnder to be- to an opponent who promised to 
committeH^. 5 president.- has uphold racial segregation more 
for a Doli?rH, mi a revolutionary act strictly in Alabama than Mr. Wal- 
dav that kf 1 ^' T? ann °unced Sun- lace would. Mr. Wallace vowed lhat 
to winhe uImjlI h®, because he would never again be “oiil- 




£* t wou i d hav ^ -Sc™ 

^ he knew he could not Imp. 
wpfi u ? Uld ha , ve feU as though I 

nr^U?“ 8 to *** French peopk in 
proposing a program that could not 
be put mto place.” he said. 

BiD. Newt? You boys still there? 

SESJ" ““ “ ms IO have 


segged.“ And he never was. even 
as his ability to deliver on promises 
to protect white supremacy shrank 
and disappeared. 

Bill Clinton created many of the 
problems he now faces by running 
m 1992 as a mild populist, promis- 
ing middle-class tax cuts and deficit 
reduction. He delivered on the defi- 


- . Mr isTi “ reduction. He delivered on the dofi- 

linniii J»w 0rS . S slartljn S renuncia- cit reduction and has kept “respon- 

- continuity of sibly” quiet as the Federal Reserve 

' : • ‘ L 'aniijJl a hrtO* » ?? character. Clarity bankers shoot interest rates upward. 


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at ^e all -that has bS?£fig 

StSteJ? 8 P nnc, P Ie for ‘he French 
intellect since Rene Descartes 
thought and therefore was. 

. Mr. Delors’s act is Cartesian log- 
ic applied rigorously to politics. 
President Delors could not be, be- 
Candidate Delors could not 
think: He could not think of being 
a center-left president constantly 
battling and losing to the conserva- 
tives who control the Parliament. 

One should not hold one’s breath 
waiting for President Bill Clinton 
to apply similar logic to hi< own 
situation when he gives his next 
agenda-setting speech on Thursday 
night. It would not be consistent 
with his nature, nor with the nature 
of American poli tics and intellectu- 
al life. We Americans thrive on the 
unfulfillabUity of promises. We 
hope; therefore we are. 

We even have a name for this 
national willingness to suspend dis- 
belief temporarily when a new, en- 
gaging politician comes along prom- 
ising to understand our frustrations 
and fix t h i n gs. We call it populism. 
It is a fancy name to shield us from 
the reality that as a nation we cannot 
resist charming rogues who have 
perfected the art of overbidding. 

Newt? Bill? And you too, 
Ross. You fellows jump in here any 
time now ... 

Is it coincidental that the two 
dominant political figures on the 
American political scene at the mo- 
ment (as well as that billionaire from 
Texas) hail from the South? Or is it 
possible that the South patented the 
angry populism that has become the 
national mood? After all, George 
Wallace made pointy-headed bu- 
reaucrats and government meddling 
'with family values rallying cries be- 
fore the Contract With America was 


bankers shoot interest rates upward. 

In 1994. Mr. Clinton's responsible 
populism has collided head-on with 
Mr. Gingrich's red-meat populism. 
The public went for the real phony 
line — that is, the bigger promises. 

Mr. Gingrich has shown a pat- 
found understanding of the public 
mood by delivering quick and bene- 
ficial (if largely symbolic) change in 
the way (he House of Representa- 
tives organizes and conducts itself, 
white holding out promises of a bel- 
ter future after a balanced budget 
amendment is passed, school prayer 
is adopted, orphanages are brought 
back, etc., etc., etc. 

Another Frenchman — Charles 
de Gaulle, natureUement — summed 
it up when he visited Brazil and 
praised it "as a country that has a 
great future ahead of it — and al- 
ways will have.” Much the same 
can be said of the American elec- 
torate and the candidates it puts 
forward and blesses. 

That in itself is no bad thing. A 
French friend visiting Washington 
makes this point about Mr. Delors’s 
Cartesian withdrawal: 

“Win or lose. Delors would have 
been a serious Socialist candidate 
against the right. He would have 
provoked a serious debate about 
France’s role in Europe and the 
world. Now there will be neither. 
The election next spring will be 
a narrow personality contest gov- 
erned bypersonal hatreds.” 

Mr. Clinton got outpopulist-ed 
on Nov. 8. He must now choose 
between overbidding the overbid- 
ders or engaging the American peo- 
ple in a more serious debate about 
where he would take the country. 
Either course is politically perilous 
for Mr. Clinton. But only the sec- 
ond is in the national interest 
The Washington Post 




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LETTERS TO THE EDITOR 


From Armenians to Kurds 

Regarding ‘VI Test for Turkey: 
Liberty or Oppression for Kurds in 
Parliament'' (Opinion, Dec. 7): 

9 As one whose parents were Ar- 
menian subjects in the Ottoman 
Empire, I fully understand Leyla 
Zana’s frustration with Turkey's 
persecution of its Kurdish popula- 
tion. But she deludes herself in hop- 
ing for the Turkish government’s 
recognition of Kurdish identity. 

Despite Turkey’s denial, the Otto- 
mans during World War 1 solved 
their “Armenian question” by per- 
petrating the fust genocide of the 
centuiy. Armenians fought for and 
established an independent republic 
in 1918. In 1920, Armenia was at- 
tacked and divided by Turkey and 
the Soviets. Armenia again gained 
its independence in 1991 when the 
Soviet Union collapsed. 

The Treaty of Sfcvres, signed Aug. 
10, 1920, granted statehood to Arme- 
nia and Kurdistan. But it proved 
worthless. The Kurds will never have 
recognition of their identity, surely 


not statehood, so long as historic 
Kurdistan is controlled by the likes of 
Turkey, Iran and Iraq. The Western 
powers and Russia could care less. 

As a footnote, it is said that the 
Ottomans during World War I insti- 
gated attacks by Kurds on Arme- 
nians. We might charitably attribute 
such acts to wartime conditions. In 
any event, 1 wish Mrs. Zana and the 
Kurdish people peace and security. 

BEDROS ODIAN. 

Buffalo, New York. 

Blabber From the West 

Western leaders have now agreed 
to blabber over and over the same 
ludicrous statement: M It is a nasty 
civil war in Bosnia and both sides 
are to b lame. " But the sit u at ion in 
Bosnia is not simply a nasty civil 
war. The West created an arms em- 
bargo that dearly favored the heavi- 
ly armed Serbs and punished the 
lightly armed Muslims. 

Since then the Serbs have been 
carrying out public murder against a 
civilian population. They have 


burned villages, blown up mosques 
and raped thousands of women. 

International human rights orga- 
nizations have called the Serbs’ ac- 
tions fascist and genoddaL Western 
leaders have not had the guts to 
utter these words because of the em- 
barrassing light it would shed on 
their ugly indifference. 

The West fails to distinguish be- 
tween aggressors and victims. The 
Serbs have arrogantly snubbed ev- 
ery peace plan offered and want 
only one thing — to pursue their 
“ethnic cleansing” to the end. 
Thanks to the West's policy of ap- 
peasement, they will have their way. 

STEPHEN CRAWFORD. 

Amsterdam. 

Regarding the report “ Pentagon 
Holds No Hope of Reversing Serb 
Claims ” (Nov. 28): 

So the Bosnian Serbs have won 
the war. What next? A Greater Ser- 
bia is c oming. European nations 
should get full credit for its creation. 

W. B ALLIN. 

Geneva. 


Fighting the Bunny Threat 
So Housing Will Be Safer 


By Richard Harwood 


YTTASHINGTON — An item in 

VV the current issue of Press lime, 
the magazine of the Newspaper As- 
sociation of America, produced vi- 
sions of George Orwell’s Ministry of 
Truth. Federal agents had launched 
an investigation to determine 
whether a newspaper in Salem, Ore- 
gon — the Statesman- Journal — 
had violated federal law by publish- 
ing in its real estate section a draw- 
ing of an Easter bunny. 

What were these gumshoes doing 
in a newspaper office? What crime 

MEANWHILE 

were they trying to solve? What vile 
condition was represented by the 
bunny? Answer: The bunny of- 
fended an atheist who thought 
it promoted Christianity and thus 
was discriminatory. 

The investigators were not em- 
ployed by the FBI or the Secret 
Service. They bad come from the 
Fair Housing and Equal Opportuni- 
ty office of the Department of 
Housing and Urban Development. 

Since 1968 it has been illegal in 
the United States to publish “dis- 
criminatory” advertisements for the 
rental or sale of housing. Ads may 
not stipulate that bousing is for 
“whites only” or “blacks only." for 
“Christians.” “Jews” or “Catholics” 
or. except in rare cases, for “adults," 
“males” or “females." 

Other words which may bring 
down the wrath of federal authori- 
ties: “bachelor pad,” “mature,” “sin- 
gles’ paradise,” “exclusive," “execu- 
tive.” Phrases that might suggest the 
“steering” of members of a group to a 
particular property are suspect: 
“near synagogue.” “near country 
club,” “desirable neighborhood.” 
People with no legs or bad legs may 
be wended by “walking distant to 
trains” or “walk-in closet.” 

This is the nutliness that passes 
for “political correctness” and 
which often finds itself incorporated 
into laws more appropriate to a po- 
lice state than to a democracy 
founded on principles of freedom. 

A small Wisconsin paper had to 
spend more than $7,000 to defend 
itself against a complaint by a man 
who had been turned down by a 
wo man seeking to share as apart- 
ment with another woman. The ad 
was legal, and as it turned out. the 
mas who had filed the c omplain t 
had harassed the woman advertiser 
for a date since she had declined to 
allow him to move in. But a diligent 
investigator from the Department of 
Housing and Urban Development 
interrogated more than 20 people ai 


the newspaper and filed an eight- 
page report on the affair. 

The Fair Housing and Equal Op- 
portunity office is run by a HUD 
assistant secretary, Roberta Achten- 
berg. who expresses personal and 
professional embarrassment at the 
rigidity and stupidity that some- 
times crop up in that agency. She 
has assured the newspaper industry, 
which has the power to make waves, 
that she wdl discourage forcefully 
the filin g of spurious complaints 
and tiie launching of knee-jerk in- 
vestigations by robotic investigators 
in the agency’s field offices. 

If som ething akin to this hassle 
bad involved valve manufacturers or 
home-based milliners instead of 
newspaper publishers. 1 doubt we 
would have heard much about it. 
Thai is because “governance” is a 
subject news reporters and editors 
know* tittle about. 

There are roughly 20 million pub- 
lic employees in the United States 
working for 86,000 governmental 
units. What do they all do. and with 
what degree of competence, produc- 
tivity. necessity, honesty and fair- 
ness to all classes of people? 

The press is in no position to serve 
as a “watchdog” over this enormous 
collection of bureaucracies. 

In Washington, the habitat of 
thousands of journalists, there is 
heavy traffic into and around the 
White House and Congress, and less- 
er incursions at the Pentagon, State 
and Justice departments. But most 
federal “programs” and agencies 
could as well be on the dark side of 
the moon. Our obsession and princi- 
pal competence has always been in 
the coverage of “politics,” not “gov- 
ernment” or public policy. 

Everyone agrees there is bureau- 
cratic bloat But what to do about it? 
We in the press do not know. If you 
fired every government worker in 
Washington — local and federal — 
you would save big bucks. But you 
would also wipe out much of the 
city’s middle class and erode the tax 
base down to the gum line. These are 
money considerations, cone of 
which get to the question of wh-t 
and how well bureaucracies perform 
or to the related question of their 
sooal and economic utility. 

Read the press for political gos- 
sip, the bad manners of Newt Ging- 
rich, election returns and literary 
essays exploring Hillary Rodham 
Clinton’s Methodist psyche. But 
don’t expect from us great wisdom 
or learned analyses of the virtues 
of Big vs. Little Government. 
We don't have a clue. 

The Washington Post. 


BOOKS 






-T ' 




WHO WILL RUN 
THE FROG HOSPITAL? 

By Lome Moore. 148 pages. 
$20. Knopf. 

Reviewed by Carolyn See 

T^’^tedlS^anBis hand " 

a Chinese sleeve piece done in 
blind stitch; painstaking, 
breathtaking beauty in minia- 
ture. 

The narrator here, Berie 
Carr, whose real name, Bendte- 
Marie, shows her mother's 
French Canadian origins, is va- 
cationing in Paris, city of 
dreams, with Daniel, a husband 
who can’t seem to love her. To 
be frank, although she never 
mentions it directly, she can't 
seem to love him either, but 
they’re both giving it a gallant 
try. He’s in Paris for career rea- 
sons, and maybe its the nostal- 
gia of her mother’s spoken lan- 
guage that makes Berie think 
*‘I’m hoping for something 
Proustian, afi that forgotten 
childhood.” 

What Berie remembers is the 
small of hex youth, a tiny 
town near the Canadian border 
where her family scraped along 
somewhere in the griddl e cla ss. 
fating their house with foreign 


WHAT THEY RE READING 


• Romeo Bernardo, under- 
secretary of the Philippine De- 
partment of Finance, is reading 
*Power Shift" by Alvin Toffler. 

“It's interesting. As the coun- 
try tries to find its way in the 
world, well have to re-examine 
how we approach develop- 
ment.” (Kevin Murphy, IHT) 


guests and exchange students, 
cramming the air with gabble, 
adroitly managing not to talk to 
each other. Besides her mom or five in a lifetime. They can't 
and dad, Berie has a brother, be replaced, and if you lose 
fiande , whom she loved: “We them, that’s it 

2**? best Through her childhood and 

bunk-buddy, chiU spouse, until mlo hcT leens? haic ^ her one 

Iwas nine and be was eight. bcgl fricnd her soul male ^ 
Then they’re too old to share Silsby Chausee. She and Sfls 
the same room, and their close- bang out for long afternoons in 
ness is gone. one or the other’s bedroom; 

And Berie has a foster sister. f5S£%£^JSZ 

LaRoue, who from the begin- Io F I r aRou ^ ^ swan : 
, . ^ j » . T_. , m»ng m ponds and lakes and 

nmg MB ffld, fat. stow, left out SeStTlery: they ate 

may or «pltmatio n . Wh« they get 

smail^Tiere may be mffliomTof 

- night at each other’s houses. 


rides a motorcycle and is cute. 

Pretty soon Sils is pregnant. But 

if s Berie who loves her more 
than anyonp else in the world, 
Y \ and almost without thinking 

r 1 she embarks upon a daring 

I scheme to “save” her. 

The two big questions this 
i Mr little novel addresses are the 

x. yyjr £ 1 general scarcity of love and the 

A enormous disappointment of 

C most adult lives. One of the sad- 

\®53Gf dest of life’s ceremonies in 

‘ America is the high school 

graduation, where squadrons of 
teenagers are told that “the fu- 
ture lies ahead,” but the opera- 
hanging around, but live word is lies. For most 
ms we can love, or who Americans, adulthood is a sell 
us, may amount to four and a scam and leads directly to 
n a lifetime. They can't sickness and death. 


humans Han ging around, but 
the persons we can love, or who 


And Berie has a foster sister, 
LaRoue, who from the begin- 
ning was sad, fat, slow, left out. 
Already Berie is beginning to 
explain and try to prove a 
frightening premise: This may 
be a big world, but the world we 
actually live in is often very 


BRIDGE 


By Alan Truscott ^ 

T WO major titles were de- would : 

dded by tiny margins at the up a n 
start of the American Contract have a 
Bridge League’s Fall Nationals, woud s 
The Life Master Open Pairs long cli 
was won by Robert Levin and Tims 
Dr. Richard Katz by five match monds 
points, or one-eighth of a n 
board. . the po 

The margin in the Life Mas- . declare 
ter Women’s Pairs was even by fine: 
closer, less than one match appred 

ooint or one-fortieth of aboard, dmranj 

The Women’s Pair winners, 

Lynn Deas and Rhoda Kraien- 
stean, had some help &om an 
opponent on the diagramed 
deaL Deas as East opened one 
heart, and South's forwdbare wes 

ovcreall of one spadt led rapid- *3 

lY to four spades. Two roonda 5io«« 
% hearts led, and Souib ♦J|J S 
Sffed the second and cashed ***" 
two top Humps. Hie tbm rufftd 
, heart »nd led to tie diamond 

. id T%is was the routine play in 
kamonds, but it was an error 
h«eandSouth eventually lost a Ndtte 

SS to each suit fta do™ 

^should have rn fmedga M 

^Idto^ree spades and, w««* 


£™tta?TiL * In the amusement park where 

them, tnai s JL Sfls and Berie work, they take 

Through her childhood and cigarette breaks with “Little Bo 
into her teens, Berie has her one Peep,” whose job it is to query 
best friend, her soul mate, the children, “Where are my 
Silsby Chausee. She and Sfls sheep? Dears, have you seen my 
hang out for long afternoons in sheep?” Ten years later, the for- 
one or the other’s bedroom; mer Bo Peep will “have a ner- 
they successfully ditch the fra 1 - vous breakdown selling Mary 
lorn LaRoue. They go swim- Kay cosmetics: She would stop 
ming in ponds and lakes and selling them but keep on order- 
picnic in the cemetery: they are ing them, letting them pile up in 
perfect together, without effort boxes in her basement; instead 
or explanation. When they gel of selling, she’d go out, get 
into tneir teens they smoke a lot drunk in the back seat of her 
of dope and listen to the music car, pass out.” For a lot of peo- 
of the day and tie to their moth- pie, things don’t work out. 
ers, saying they’re spending the 

night at each other’s houses. if you lose your best friend. 
Then they go to sleazy road- n ot saying that necessarily hap- 
houses and dance. Maybe it pecs here, that may be worse 
goes without saying that Sils is than losing your true love. If 
* * beauty, the 


»bly, six hearts. U West titc great beauty, the^eternally you lose your one true love, not 
started with four hearts she “ffKv onc * ® e P e ** " un ^ e * saying that necessarily happens 


would not doubt have scraped still a skmny giri. When 

up a raise. And East raifidto they’re both 15 they go to work 
have a few chibs, since West ® “ fnusement park. Bene 


here either, there may 
another one around 


not be 
Lome 
paint- 


woud surely have shown a very saisurams, out aus gets to oe 
long club suit Cinderella. 

Thus South’s first play in dia- in the same way that Berie 

monds should have been the and her tittle brother got sepa- 


in an amusement park. Bene Moore, with the tiniest paint- 
sdis tickets, but Sils gets to be brushes, the most delicate 


Cinderella. threads, creates a gorgeous, ter- 

In the same way that Berie nfying picture. 


ace. That would have revealed rated because of sex-as-bulldaz- 
the position and allowed the er, Berie and Sils are pushed 
dedarer to pick up West’s J-9 apart by boys. Sils’s first boy- 
by finessing. South had failed to friend is Mike, a numbnut who 
appreciate the significance of 


Carolyn See reviews booh 
regularly for The Washington 
Post. 


lummy's diamond eight 
NORTH 
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INTHUUIKINA]. 


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EAST (D) 
+ Q65 
9AKQ813 

* K J 10/5 

SOUTH 

*109874 

*7 

0 A 10 7 2 
* A 32 


Neither side was vulnerable. The 
bidding: 

East South West North 

I O l * Pass 4* 

Pass Pass Pass 

west led the bean four. 


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Page 6 


■> W" 


I 

I 


7 Islamic Countries 

To Join Geneva Talks 
On War in Bosnia 


■sst-lsrCk SSmASmSS 


Pr 

on 

tio 

ca 

lei 

ba 


ihi 

ini 

ne 

sb 


CASABLANCA. Morocco ru« " 1U ““ 

— Seven Muslim ambassad^ h °^ither the king nor Mr. Mur 
wffl meet in Geneva named groups or nations 

sentatives of the ^ critidmlpypt tsbat 

“contact group °° : *!««. a campaign by ann^^" 

discuss the war there and to ^ Morocco is wary 

prepare for a ministenal meet- 1^0 insurrection in 

STMorocco;s secrecy Jf “ ei lS Atari* 
state for toreign affairs 831(1 11,000 people J** 

w srsu T^F-i 5- ^ hi-— •*— 

Fihri. spoke all a a m«“« “} y , Libya and Sudan have 
Bo^a of the Organ^^ ® f auS.blSdby theWest te 
die Islamic Conference contact blame extremists, 

group, which he said hadac- ^°J^f‘ t | ose countries was 

cepted a proptBsdfrom Gmm^ ^^^ted by a head of state at 

'"ygfSS, caned on the 

safe,. -Sjsssssssk 


ca 

n 

be 

su 

m< 

bj 

m 

A: 

H 


cl 

n< 

y< 

01 

T 

B 

G 

it 

R 

tl 


§ 


a ana me 

The foreign ministers or bau- 
di Arabia, Egypt, Senegal, Tur- 
key, Pakistan, Malaysia and In- 
donesia, which make up ^ 
Islamic Conference contact 
group, met to consider the invi- 
tation. _ , 

The conflict in Bosnia and 
the plight of its Muslims is the 
top item on the agenda ofls- 

. r - 1 j ~ Thw art eXDCCt- 




Mass Murder 
Of Former Offici; * - 
Begins 


Rv Jennifer Parmelee 

vahinm rindpal architects-^. 

aSgSS* 

.he most repressive regies war enmu 



<S*i\ 






SU*? 


*r ; 

«£T» ; 


vV 




V..- 


j£.vj 

1 i 


inning of 
of up to 3 , 00 b 


55WS EiSSS 

ffiforiridden**^ EXIROPROTEST - Purtuuneu. depuries m Strasbourg . RfimVTA* 


feSSESaSS''” 1 


^ some of HS^o^SuS&^^T- 

x^gLstu s brutal war on pre cedent, former. 


forbidden EUROPR OT^T - European _ RfimVT/U 

Serbs Delay 2 Aid Convoys Heading toSor^ E* 

vc were Serbian pressure on the P^SfnnSv^bY a missile. Continued from Page 1 

_ - * r* Thirteen more convoys were Serbian pres _ Hveries ed Monday by a unritu amil 


i».xr 


■i 


iSic leaders. TT.^^ 


^ ” Ste P ^"e& -lug farume 
^forced w»“ lems S sai £°5^ 

wb2So iS n t was Sed 16 years ago f or mem P 

Mengjstu regime who a ^ h d e 5 e foidSs outside the court, a 
uneasily with reta®®* Colonel Mengistu's war command 
room that once served as ^ I°“ f LVboSts: “We 0311 control 

SSSSr- On the «&»««“' «‘£&SuSai ” 

not only *= as charges w 


••S 


Muslims wno caroc uic pa«a 
extremism, blaming them for a 
backlash against Islam by the 
non-Muslim world. 

“No one and no authority 
Kine H assan said, is entitled to 
“take the path of extremism 
and resort to aggression. > 

The question of Islam s im- 
a°e was placed on the agenda 
by Morocco. Banners denounc- 
ing extremism and urging toler- 
ant were hung around this 
North African city. 

King Hassan also denounced 
iihads against other Muslims, 
saying that “Islam does not tol- 
erate such verdicts. 

Mr. Mubarak widened the 
target to include Muslim coun- 
tri« that he said had gone 


M. v 

- , _ Pnriia- The court questioned the Ta- cnan gea quite — “ 

^ bUS,neSSeS m m^t^oindiArteon^sm^ J^ited tl^ghoutTbe day. ^triS out of IkLiia ro^t 

*_* 3** STKaa’^!- x-i ffflUTJTja KSrSffiS.-'S 

“You can’t live on credit forev- we Th. 5,. voluntarily S£ on '****£$£»'- ~* 

wmm fmm 

as a commercial vessel. 



ana auuuptuauvu ^ . — 

serve live government of Prime 
Minister Edouard Balladur, the 
front-runner to succeed Mr. 
Mitterrand. Mr. Tapie vow«i 
“to make his attempt at the 
presidency fail." . . 

If the ruling was a political 
catastrophe for Mr. Tapie. it 
was a financial disaster for 
debt-ridden Credi 
which cannot now — 

1.2 billion francs the bank lent 


us. 


The golden boy of French 
business in the 1980s, Mr. Tapie 
has fallen on hard times since 
1990, when he overstretcb«! 
himself to acquire Adidas, the 
world's largest sporting goods 
company. 

But as his business empire 
1.1 u;., vwii tii' il career 


Jisasier for But as his o» 

Credit Lyonnais, cnimbtod, !*» 12^^ Gi 

reclaim the soared. The impressive iz per 

- ■ - cent he scored in the June elec- ho 


idem OI uie cuiuyv— 

sion, Jacques Delois, ignored 
his front-runner's standing and 
decided not to run. 

The rulings Wednesday fo- 
cused on two of Mr. Tapie s 
myriad companies for which he 
was financially personally re- 


10 consider re- 


more willing 

maulin g. . 

European officials attributed 

“^Tuesday, Tapie endured. Ib^p^g 

whathecaUedihe-d^raafuln ^ of Bosnja would bewor« 

for the Bosmans, for regional 

_ _ fnr I FN And 


DUBAI DUTY FREE 



staying in. 

* Nevertheless, should efforts 

ey it is owed. f0 reV arap the UN operauon 

The sale scheduled for Thurs- prove fruitless, NATO- mihtary 

day, was delayed because of the of f lcei? are proceeding with 

bankruptcy ruling. contingency plying tor ^ 

$S52&&gS3£ 

and rebuilding them. edoruiL 


Continued from Page 1 


Oscar Ramirez Duran, 
ununuiw .iv - known as Feliciano, took over 

Shining Path's top leaders in ^e movement and has vowed to 

1992. the life in Ayacucho s con tinue fighting. Last monln, 

main plaza — the Parque Sucre guerrillas bombed targets in 
L 1. ,,„.w the watchful 


d-Tfn fl r«was a reminder ot tne ™ 

ading of names was a t , cumjorters- of an 

Terror,” when Colonel Men&is™ „^ )Ul gg^aign against 

urban guerrilla movemen claimed up to 

suspected to government pros- 

ecutors and human-rights mo ^TV’ r _ aijlar i v broadcast long 
During that «. ^ostenab^ as V 

lias of pah a*. jg ggflLff ^Sonaria.- Tha 

rasssa —p— *■*., 

-sjs?s 

ajoumahst 

i^KdSaSday. wondering who you knew had 
his war-shattered country m M*? o - ^ defendants to 

who betrayed none ^^S^^STrevolution- L . . 
dips from the Mengtftu fS^hlm were neatly barbered, T | 

SSfiff -M —*« strti ® ht “ ** ’ ‘ 

Au^»t trfj& ESSS EEZ gSSi orderHn 

0 onSSST^STtfe testimony Of mom 

evidence tmjmv** 

m Conrl Hears How Stranding of SdasgteWmPlaB'irf 

MSrSmy'Sfi" ’ {taot*. 1— . 

^^^r^-of^a^un, of how the 

s e ^s"ronti« 

._-_jj„..«Ftr;aU«sairitheofficershadmeton Aug.23, 197 , 


sale oi 

Eur 


1 


tnampia^-a — “iv . — , 

— is back, under the watchful 
eye of the military. Dozens of 
bars, hotels, restaurants ana 
other businesses have opened, 
including three new discos. 

Early this year, the Puerto 
Rican rock group La CoCoban 
gave a concert in the plaza; the 
top-rated soap opera “The Up- 
land Lower Classes, filmed 
an episode here; and a well- 
known road race, Caminos de 
Inca, has started passing 
through Ayacucho again. 

“We can sav without reserva- 
tion that the' Shining Path no 

■ ■ . a_ _ _ k n>Kor*» 


° UCTTLIiar* wiuwvb* C 1 

Lima, including two branches 
of the country’s largest bank 
and an air force officers club, 
but there were no injuries. 


Judees reading charges of genocide ana 

Haile Selassie sould be strangled be 




3jmsa wraKTr- 

^Hewt XSSZ Au & 26. 1975. in his M mos. ; 
cruelly,” they said. ~ 


FACE-OFF: U.S.- Chinese Incident in the Yellow Sea 

J«n A*«n.MintPT it finffat- fC ittv Hawk and its Dianes did 


Z' ■ i frmn Paw* 1 three-day encounter, it operat- Kitty Hawk and its planes did 

Continued frow Page » ^ at periscope depth, about 35 not violate Chinese airspace, 

waters where they had rarely lQ ^ feel surface. Some U.S. officials believe 

found Chinese vessels bei or . F<)r a ^ 0^^ ^b- that China’s strong reaction re- 
W ^^ t ^’^AihSAnsern- The incident also hi«hlights marine e!uded lhe carri er fleeted some embarrassment 

»• ^hS^he'Shinino p ath no some of the gunboat diplomacy group, and U.S. planes began that the carrier battle group op- 

surrounding the U.S.-North Sopping devices ‘called sono- era ted near the Chinese coast. , 

fong „ . . ^ mayor Korean nuclear agreement jj U oy 5 m an attempt to find it. x uesd av a sookesmad 

,1 was boau said 1 the ^ mayor. reached ,7. In September, thev did. the Kittv Hawk 


IL — - 

Walter Ascarza Olivares. 

Founded in 1539, Ayacucho 
is an important business and 
tourist center in the central An- 
des. Before the Shining Path, it 
was famous for its churches, co- 
lonial mansions and markets. 

With the decline of the Shin- 
ing Path, thousands of people 
have come home. After spend- 
ing three years studying in 
Lima, Cfear Prado, 29. a Hare 
Krishna, relumed this year to 
set up a street stand where he 
sells literature and products. 

“I left because there was 
nothing here but killing and de- 
struction," he said. “I decided 
to come back because things 
have changed here and I nave 
changed. With the end of the 
violence I think people here are 
ready to accept the teachings of 


Korean nuLuai 

reached Oct. 17. In September, 
the Kilty Hawk was sent to wa- 
ters ofi North Korea in what a 
U.S. military official acknowl- 
edged was a show of force in- 
tended to influence the negotia- 
tions. 


uruppuig Utvu^O MUivu ovuv- 

buoys in an attempt to find it- 

After they did, the Kitty Hawk Ior me - 

and the U.S. planes conuimed Washington said accounts of ^ 
10 track it. In response, the Chi- incident involving the Kitty 't 
nese Air Force at one point sent Hawk ^ ^ Chinese subma^ 
iis jet fighters toward the air- were jusi “rumors.” 1 

craft from the Kitty Hawk. . . v hi 

cr~ n \* Nothing happened, ne 
According to U.S. official, , 

China’s warning that it would 

shoot next thne was made to a ^ Pentagon officials msist that 
U.S. military attache at a dinner the Kitty Hawk s captain m 
in Beijing. Chinese officials ap- “the appropnate thing n 
pare ntlv felt that the planes tracking the submarine, to 
with the Kitty Hawk may have cause diere always are^coy 
(“hinWi ai«n nee cems about other powers^ na» 

clear submarines. r-l' . 




5a* 


iV 


In the Yellow Sea incident, 

American anti-submarine air- 
craft detected the submarine oft 
the Shandong Peninsula, about 
200 miles from the Kitty Hawk, 

Pent aeon officials said. The 

rhinfse vessel was found wiin me wuj nm maj 

§5 me =srs wa *. 


1^' 




Internationally. 


BANKS; 

r>M«jnauwi from Pio* i stalwarts, be they Lazard Frferes The ability to combine, cap* 
Conunueo r^ge j n France, Mediobanca in Italy bilities that include corporate 

can banks are making inroads: or even Deutsche Bank in Ger- finance, independent industry 

“The real asset of the American many. u snd 

banks is their worldwide pres- 

IvwmKP iukpn vitu nnva- 




s ^i 


ready to accept uic — can oaiuts arc nuuuug uuu a U9 . or even i^euiscne oaiiK in vjer- nuance, uiaepenucm 

Krishna." “The real asset of the American many. research, securities trading and 

Marine Sulca. 20, a grocery banks is their worldwide pres- Paris> a senior parUier 0 f a network of institutional tnyes- 
clerk, left Ayacucho with her ence. because when you pnva- t rtTar d preres pointed out that tor clients points to American 
family in 1992, after the Shining tize you need a world financial ^ i|s affiliates in New York firms’ eventually “winning 
Path killed her brother as they market. Second is their techm- ^ London, Lazard already lion’s share of business, ■ 
r — :i,r cal know-how, and, finally, ^ m international tradition cording to James Harmok 
»hflir experience in specific in- I ■ .L u .t ^kairman W#»rtheiJ0 


ram KU1CU us. ww-*- T7 

stole his car. Her family re- 
turned early this year. 

“They shot him in the heaoas 
. . ■ j f-. ** chp said. 


cor The World's Finest. _ -Fly-Buy-Dubai 



he beffied for mercy.” she said, municationb." 
“The pain was unbearable for 

- D,i# S«*c different nOW. It 5 


market. Second is their techm- ^ London, Lazard already lion’s share of business, *0- 
cal know-how, and, finally, ^ m international tradition cording to James Hannon 
their experience in specific m- and is therefore “not afraid” of chairman of Wertheu® 
dus trial sectors like telecom- compeiition. But he admitted Schroder, a New York subsi* 

thni "thp vlnhaliralinn nF mar- 


ine u«** " . . 

me. But it’s different now. It s 
more tranquil, more normal 


r WUUVU. VUI UV aUMUfcVMA 

municauons. that “the globalization of mar- 

David Freud, a privatization ^ ^ ^ 

expert at Warburg, noted that ^ of } 


muic I O 

the way it was when I was a 
girl." 


President 
has pledged 


term next July 
who 


is 


seized 

powers 


in some of the "thinner and 
smaller" European markets — 
such as Milan. Frankfurt, Ma- 
drid or Amsterdam — even the 
best local institutions cannot 
place the volume of shares on 
Tl Julv Mr Fujimori, offer. “The big pools of money 
seek in a re-election, for international equities are in 
sweeping dictatorial the U.S. and Britain." he said. 

’ Apr'S 1992 after The aggressive push into Eu- 


Alberto Fujimori 
nas pi*ue~ W eliminate the 
Shinmg Path by the end of his 

w w. hiuimnn. 


r yvi/wiitm uvii Vi mm 

|VVM UIW transformed the situa- 
tion of investment banks, with 
American firms playing an 
ever-greater role.” 

Rolf-Emst Breuer, 




kJVUIVUWy U i 'VH M. V—-- 

iary of London’s Sdiroders.. 

Mr. Harmon forecast more 
consolidation erf the n&j.. '^:r 

which could mean more Wail. . *-^ 2 . 

Street firms’ joining forces witf fe. 

rmanlMt PirmneaS l“,7x; . _ 




cvcr-^ic«uci iuic. street iirms joining iotccb 

Rolf-Ernst Breuer, a board less globally oriented Europe® 
member of Deutsche Bank, outfits, 
conceded in an interview that — 4 „n a. w~n sin** 

-r. .It 




powcib in r»K*“ • ' r __ 

chargina that a corrupt Con- 
gress was hindering the figh 


a gains t terrorism. 


t U.J- Oiiu LIIUlllll, 11^ vXUVU 

The aggressive push into Eu- 
rope by American firms is cre- 
ating an uneasy feeling among 
the Old World's traditional 


LUUUCUW LU iwi UilWTiVTf 

even after shifting all invest- 
ment banking operations to 
Deutsche’s Morgan Grenfell 
subsidiary in London, it would 
take three to five years before 
Deutsche Bank could hope to 
compete - 


Yet not all the Wall 
firms see a need to buy' then 
way into the European corpO’ 
rate finance business. Mr. Gof* 
zine of Goldman Sachs said his 
firm prefers “to be. a. 'ho®®' 
builder rather than an* acquir- 
er.” - : ... 




*5* 


|>F 




U^jJi IJ&O 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 15, 1994 


Page 7 



n e Auixiuie d ftm 

OONWAY.Art^^or- 

refed from spinal cancer. 

ihPai!^ r^ 957 - he °«*ered 

Sack Gu ? rd 10 prcven ‘ 

{Up . ^ dents from entering 
Nb?W° t desp,l f a 601,11 ordcr 

IwEH?* werc ^rned 
”g>benaidsy.OBSBpL20L 

“.^r^judge ordered him to 
stop interfering. 

President Dwight D. Eiscn- 
howw, who had federalized the 
pard, then sent in 1.200 para- 
troopers, under whose protec- 
U°n the students entered Cen- 
tral High. The soldiers staved 
throughout the school year. 

It was the first use of federal 

nrnd the Supreme Court's 1954 
desegregation decision. 

S* lasl ; Mr. Faubus in- 
sistp he acted only to avoid the 
violence he expected. 

Mr. Faubus was bora in pov- 


us, Integration Foe, Dies 


eny in an Ozark Mountain 
hamlet named Greasy Creek. 
At 18, with only an dementarv 
school education, he began 
teaching school, continuing un- 
til he completed his own high 
school education 10 years later. 

In 1938, he bopped freight 
trains to Washington slate, 
where hcpickcd apples and cut 
timber. Then he returned to Ar- 
kansas and served as a court 
clerk and as county recorder. In 
1942, he joined the army and 
rose to the rank of major in 
araty intelligence. He ran for 
his first term as governor in 
1954. 

In 1969, at 59, Mr. Faubus 
divorced his wife of 37 years, 
Alta, and married 30-ycar-old 
Elizabeth Westmoreland. When 
he tried a political comeback 
the next year. Alta hurt his ef- 
fort. saying. “Oh, it’s the same 
old story — just a lot of prom- 
ises. He promised to love, honor 
and obey me. and he broke all 
those promises.** 

The Faubuses moved to 
Houston, where in 1983 his sec- 
ond wife was murdered by a 
fugitive who was sentenced to 
life imprisonment. Mr. Faubus 


moved back to Arkansas, where 
he was married a third time, to 
Jan Wittenburg. a teacher 33 
years his junior, in 1986. 

Hikmal Masri, 8S, a leading 
organizer of opposition to Brit- 
ish rule of Palestine before 
1948, a former Jordanian cabi- 
net minister, and a co-founder 
in 1964 of the Palestine Libera- 
tion Organization, died Tues- 
day in his native West Bank city 
of Nablus. 

Alyce Marie (lisa) WilHam- 
son. 34, an artist and great- 
great-granddaughter of Harri- 
son Gray Otis, founder of the 
Los Angeles Times, died Sun- 
day in Pasadena, California, of 
breast cancer. 

Rose Slyer, 90. a lawyer who 
defended John DiJlinger when 
the gangster was sued by a Tuc- 
son. Arizona, bank in 1934, 
died Monday in Tucson. 

Friedel Dzubas, 79, an ab- 
stract painter associated with 
the New York School in the 
1 950s and Color Field art in the 
’60s. died Sunday at his home in 
Newton. Massachusetts, after a 
long illness. 


France to Propose 
EV Pupils Take 2 
Extra Languages 

Rrutm 

PARIS — European Union 
teenagers will have to study two 
European foreign languages un- 
der a proposal France plans to 
make during its EU presidency, 
the government said Wednes- 
day. 

European Affairs Minister 
Alain Lamussoure said at a 
news conference that France 
would seek an agree m ent on the 
teaching of two foreign lan- 
guages in all EU secondary 
schools. 

France’s six-month presiden- 
cy of the Union starts next 
month. 

The number and type of lan- 
guages that are taught at 
schools varies widely among 
member states. 

Mr. Lamassoure said that 
France would also propose 
making English, French. Ger- 
man, Spanish and Italian the 
core languages in E\J business, 
easing cross- translation prob- 
lems which are caused by en- 
largement from 12 member 
states to 15. 


INTERNATIONAL RECRUITMENT 


To increase sales in Europe. 

the LEADING EUROPEAN GROUP 
IN THE SECTOR OF HEATING AND 
SANITARY ACCESSORIES 

seeks a dynamic 

Sale Director, 
Europe 

Our group is present 
in every European country with 
a production and distribution subsidiary. 

ERQFIIE : 

• Sales and marketing experience in the distribution 
of heating and sanitary equipment 

* Business or Engineering school graduate 
» 35/40 years of age 

» Languages: English (obligatory) + mother tongue 
and one other European language appreciated 


) • Motivating salary 

• Position can be based in any of the principal 
countries of the European community 

• Operational responsibility for sales of the group's. 
European subsidiaries. 

P/ease send your resume to: 

International Herald Tribune, 

Box D 439 - 1 81 , Av. Charles de Gaulle, 
92521 Neuilly-Cedex Fiance or 

Fax: (31) 8376 15354 


EXECUTIVE DIRECTOR 


RAINFOREST FOUNDATION INTERNATIONAL 

The Rainforest Foundation Internationa! works to conserve rainforests and the rights 
of its inhabitants through public awareness, political action and practical assistance. 
It is seeking an Executive Director for its headquarters in New York City to provide 
leadership and vision during a tune or dynamic change and anticipated growth. 
The Director oversees the work of several national affiliates and field work wilh 
partners in Brazil and other rainforest countries and is responsible for a 
S2M budget. Applicants should have international experience m the environmental, 
human rights or development fields. Good orgntnational and communication 
dulls are essential. Spanish and Portuguese are highly desirable. 

Salary commensurate with professional experience. 

Please send resume by JANUARY 15 to: 

The Rainforest Foundation 

270 lafttfUc Street, Suite 1205- New York, NT 10012 USA 


ADMINISTRATIVE SECRETARIAL POSITIONS 


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ENGLISH MOTHER TONGUE 
SECRETARIES 

-Fluent in both written and spoleea French 

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Please send letter & CVto 



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CtHfari Chance, 112 Ave. HIcbcx, 75 


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DUKE 


THE FUQUA 

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PROFESSOR 

INTERNATIONAL MANAGEMENT 

The Fuqua School of Business invites applications 
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Management. Applicants must have a record of 
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Duke University is An Equal Opportunity/ 
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Attirca, Aii-rm. Ajnwr France- Prr'rc 


SOVIET STRAGGLER — Scaffolding encloses a Red Army soldier statue in Berlin near the Brandenburg Gate. Tbe 
soaptwe, in the Tiergarten, needs restoration, but there has been do decision on whether Berlin or Germany wiH pay. 


EUROPEAN 

TOPICS 

U.K. Government Opens Eves 
To ihe Dangers of Hypnotism 

With stage hypnotism enjoying a re- 
vival in British nightclubs, the govern- 
ment plans to review the practice, follow- 
ing reports of subjects later suffering 
violent headaches, panic attacks and 
mental disorders. 

Michael Forsyth, a government minis- 
ter, told Parliament there were “genuine 
concerns about the possible adverse con- 
sequences" of such hypnosis, particular- 
ly by people without professional qualifi- 
cations. 

One member of Parliament Colin 
Pickthall, told of a Lancashire woman 
who died mysteriously just hours after 
being hypnotized. Another member. Tim 
Smith, said a constituent had reverted to 
childlike behavior after a public hypno- 
tism and now “has to be accompanied by 
an adult at all times.” In Glasgow, a 
woman received £20,000 ($30,000) in an 
out-of-court settlement after falling off a 
stage during a show. 

le Hypnosis Act of 1952 allows only 


licensed hypnotists to perform stage 
shows and subjects them to a strict code 
of conduct. It also bars “porao-bypno- 
usm" shows, such as have been staged in 
the United States. But one British hyp- 
notist has gotten laughs by exhorting 
male subjects to imagine they are mem- 
bers of the Chippendales, a group of 
scantily dad male dancers. 

Around Enrope 

The concierge, that dassic symbol of 
French urban fife, is falling victim to 
automation. In 1950, there were 60.000 
concierges in Paris, cleaning, counseling, 
taking in mail, making small repairs, 
nmning errands. Now, with the spread of 
digital door codes and intercoms, their 
numbers are down to 30,000. A recent 
survey found that tbe typical concierge is 
a 50-year-old woman who works 55 
hours a week. Sixty percent are Portu- 
guese. 10 percent Spanish and nearly 30 
percent French. 

Also f affing victim to automation are 
die rock fighthoasemeD of Britain. With 
the return to land earlier this month of a 
Mr. Robson and a Mr. Surplice from die 
Needles lighthouse, their breed has be- 
come ex tin cl (The lighthouse of Les Ha- 
nois, off Guernsey, follows next year.) 
Theirs was a hard but noble existence. 
Libby Purves writes in The Times. Sto- 
ries have it that at Longships, a terrifying 


spot of surging, crashing waves off 
Land’s End, men’s hair would turn white 
over the winter and “more than one 
untrained keeper has been driven insan e 
from the sheer terror of the waves.” Tales 
were legion of lightbousemen’s brave res- 
cues, and even of the heroics of their 
children — like young Grace Darling, 
who rowed through & storm to save survi- 
vors of a shipwreck in 1838. Because of 
their altruism and internationalism, 
lighthousemen have long been held in 
high esteem. In 1697, a French privateer 
kidnapped the builder of the Eadystone 
lighthouse. When Louis XIV learned of 
this, he ordered the man released imme- 
diately, saying, “France is at war with 
England, not with humanity.” 

Haiking back to what is said to be an 
anaent tradition, a special ski run for 
nudists is being opened in the Austrian 
Alps. The piste, near the village of Ober- 
traun. is in a secluded valley. (A s imilar 
experiment two years ago failed when 
the prying eyes of too many dothed 
vacationers scared away the undressed.) 
Johann Schilcher, tbe ski-school owner 
who is opening the run, has tested it with 
friends who he said were “really enthusi- 
astic” But he urges caution, “because 
falling down in the snow, nude, can be 
particularly disagreeable.” 

Brian Knowlton 


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INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 15, 1994 


HEALTH/ SCIENCE 


A Day in the Life: Tracking Television’s Rough Stuff 


A study by the Center for Media and Public Affairs 
analyzed the violent content of broadcast and cable 
television stations on Thursday, April 7 . Programing by 
the Washington affiliates of ABC, CBS, NBC, Fox, PBS 


and a Paramount-owned independent station (WDCA) 
was viewed from 6 a m. to midnight. The cable channels 
were the Turner Broadcasting System (TBS), the USA 
Network, MTV and HBO. 


The Thursday in April was chosen because ft was 
watched by a large cross-section of the viewing pub 
and the Fox network broadcast a full evening program 
schedule. 




0 


6 a ,m. 7 a.m. 8 a.m. 


9a.m. 10am. It am. NOON 1 pjn. 2p.m. 3p.m. 4p.m. 5p.m. 


' Rnm 9 p.m. 10 p.m. 

6 p.m. 7 p.m. 8 p.m. v 


11 p.m. \ : i 


:jr 

?/• ...... -•* * < < 

- : > 



■y 






L ** 





H F. 






6 am.; TBS 
The Three Stooges 


7:35 am.; TBS 

Tom and Jeny 


8:30 am.; WDCA 
Darkwing Duck 


9 am.; HBO 
Batman Returns 
(movie) 


3 p.m.; TBS 

Bugs Bunny 


6:30 p.m.; ABC 
World News Tonight 


7 p.m.; WDCA 
Star Trek; The Next 
Generation 


9 p.m.; HBO 
final Mission (movie) 


Above are selected images from some of me 20 programs w«h the highest number of violent incidents ( ■). The scenes for some programs are not from the episode broadcast on April 7. 


Rrrnj HachcriThd Sew Yolk Time* 


TV Violence and Real Aggression: How Firm Is the Link? 


By Elizabeth Kolbert 

New York Times Service 


JEW YORK — In 1960, Dr. Leon- 
ard D. Eron, a psychology profes- 
sor at Yale University, embarked 
on a study to identify the causes of 
aggression among children. He was most 
interested in finding out how the children 
were treated at borne, but, to put the parents 
at ease, Ik also asked what he coded “La- 
dies’ Home Journal questions” about how 
much television the children watched. 

Ten years later. Dr. Eron went back to 
interview the same families. To his sur- 
prise, be said, the best predictor of aggres- 
sion among boys, now in their late teens, 
had nothing to do with bow their parents 
had treated them; it was the amount of 
television violence they had watched a de- 
cade earlier. 

Another 10 years later, be went back 
again — the children were adults by then 
— and found that the correlation still held: 
Those who watched television were more 
aggressive and more likely to commit 
crimes. 

What surprised Dr. Eron in the early 
1970s is part of the conventional wisdom 
today. As the rates of violent crime among 
young people have climbed it has become 
a standard refrain that television, films 
and popular music lyrics are at least in pan 
to blame. 

Television shows like “Walker, Texas 


Ranger” on CBS, movies like “Die Hard.” 
and “gangs ta” rap recordings like “Kill at 
Will” reinforce the sense many Americans 
have that such forms of entertainment do 
not merely mirror what is happening on 
the streets but help provoke it Even Con- 
gress has embraced the conventional wis- 
dom, encouraging the networks to reduce 
the level of violence they broadcast. 

But there are sharp dissents from the 
standard view. 

Television executives argue strongly that 
it is not what is on the air bnt society at 
large that bears responsibility for the surge 
in violent crime by young people. 

And a small but vocal number of social 
scientists argue that efforts to censor tele- 
vision violence are based on faulty logic, 
that while television watching may be asso- 
ciated with violence, that does not mean it 
causes violence. 

“Aggressive kids tend to watch more 
aggressive television, that’s true,” said Jon- 
athan L Freedman, a professor of psy- 
chology at the University of Toronto, who 
bas written several articles challenging the 
scientific research on the subject. “But the 
question is whether one causes the other.” 

Dr. Eron, now at the University of 
Michigan, still stands by his research. 
When he revisited the subjects of his study 
as they were about 30. he “found that the 
violent programming they had watched 
was related to the seriousness of the crimes 
they committed, how aggressive they were 


to their spouses, and even to how aggres- 
sive their own kids were,” be said. 

While a majority of those who have 
studied the issue have concluded that there 
is some connection between watching vio- 
lence and committing it, this connection 
has proved extremely difficult to quantify. 
Indeed, some studies have shown no link at 
all. 


S KEPTICAL voices can also be 
heard among those who deal first- 
hand with youth violence and its 
consequences: police, prosecutors, 
probation officers and even the criminals 
themselves. In interviews, many said they 
disagreed with the researchers over the ex- 
tent to which media violence contributed to 
actual violence, and what, if anything, 
should be done about it 
“The idea that television violence plus 
youth equals youth violence, that’s some- 
thing made up by social scientists,” said 
Stephanie Amo, a New York City proba- 
tion officer who works with young offend- 
ers. “These kids live with violence day in 
and day out” 

And whether or not media violence 
leads directly to real violence, many people 
say, the indirect effects are worrisome 
enough. These people argue that violent 
images create an exaggerated sense of life's 
dangers — what one researcher calls the 
“mean world syndrome” — while at the 
same time desensitizing children to real- 
life violence. 



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“We’ve been in areas where we’ve had 
shooting victims and little kids who see 
them, and they’re not upset” said Lieuten- 
ant Phil Yerrington of the Davenport 
Iowa, police department He attributed 
this indifference to a diet of violence on the 
screen. Television “does not promote vio- 
lence,” he said, “but it makes it less scary.” 

Anyone who watches television, goes to 
the movies, or listens to the songs popular 
with teen-agers knows that violence is a 
common theme. 

Researchers estimate that the average 
child will watch 100,000 acts of simulated 
violence before graduating from elemen- 
tary school. And studies have shown that 
poor children see even more. 

Dr. George Gerbner, a professor and 
dean emeritus at the Annenberg School for 


Communication at the University of Penn- 
sylvania, has been monitoring television vi- 
olence for more than 20 years. He has come 
up with what he calls a violence index, a 
measure based on the proportion of pro- 
grams depicting violence, the frequency of 
the violence and the number of characters 
involved in it- While there have been fluctu- 
ations , the index for prime time has re- 
mained relatively constant in those 20 years. 

Dr. Gerbner’s analysis has been attacked 
for its quantitative rather than qualitative 
methodology — one that draws no distinc- 
tion between the umpteenth immolation of 
WUe E Coyote and a realistic portrayal of 
murder — but his conclusions have been 
widely accepted by other researchers and by 
leading members of Congress. For bis part. 
Dr. Gerbner maintains that his methods are 


justified because to young imaginations, he 
says, cartoon violence can have as much 
impact as dramatic violence. 

Dr. 


But skeptics remain; Dr. Freedman, a 
particularly vocal critic of the research. 

the evidence “laughable from a scien- 
tific point of view.” 


Those who believe that a causal connec- 
tion has not been proved argue that if a 
link did exist, the study results would be 
more consistent and more compelling. 
“Fax now convinced that there either isn’t 
an effect or that it’s tiny.” Dr. Freedman 
said. But proving such an absence, be not- 
ed, turns out to be nearly impossible. “You 
can’t prove there is no Loch Ness mon- 
ster,” he said. 


Genealogy of Ant-Fungus Affair 


By Natalie Angier 


New York Times Service 


N EW YORK — They are tiny 
mandiblcd versions of Shiva, the 
Hindu god of devastation and 
restoration. In a mere three days, 
they can strip away every Iasi trembling 
leaf, every vestige of chlorophyll from a 
large grove of trees. A herd of elephants or 
a blazing inferno could hardly do more 
f la may, to the face of a forest. Yet once 
they take their herbaceous plunder under- 
ground, the pillagers become gentle farm- 
ers, using die leafy matter to cultivate vast 
gardens of blooming fungi. They nourish 
the fungus, and the fungus in turn feeds 
their hungry multitudes. 


And so the famed leaf-cutting ants act 
out their high drama of destruction and 
renewal, defoliating trees, bushes, vines, 
everything in their path — and from the 
wreckage creating a subterranean Eden, a 
myrmedan paradise. 

The leaf-cutters represent the most ad- 
vanced division of a powerful insect tribe 
called the attine ants, 200 species that 
engage in a mutually convenient arrange- 


ment with fungi. The ants and the fungi are 
symbionts, dependent on one another for 
survival and each having evolved special- 
izations to optimize their intertwined exis- 
tence. 

Scientists have long been impressed by 
the harmony of the partnership between 
attine ants and their colluding mold. And 
what scientist could ignore the ants* spec- 
tacular gardens when in building them the 
insects displace enough earth to fill a good- 
size human living room? 

Yet only now are biologists discovering 
the nuances of the relationship and the 
evolutionary history behind iL They are 
applying molecular tools to reconstruct the 
genealogy of the symbiosis, determining 
when it arose and how it progressed over 
milli ons of years to assume, in its peak 
among the leaf-cutters, a partnership so 
powerful that it virtually controls the eco- 
system of many regions of the Neotropics. 

Dr. Edward O. Wilson, a naturalist at 
Harvard University and author, with Bert 
Holldobler, of “The Ants," has described 
the adaptation of ants using fungi to take 
advantage of fresh vegetation as so success- 
ful “that h can be properly called one of the 
major breakthroughs in animal evolution.” 


In two papers appearing in the journal 
Science, researchers describe a number of 
complexities of the ant-fungal affair. They 
demonstrate that the co-evolution of the 
attine ants and their fungi dates from 50 
million years back, reaching varying de- 
grees of co-dependency in each case. 


T HE new work is of interest cup* 
multiple counts. Scientists now 
have a better handle on the symbi- 
osis between ants and fungi than 
they do about most of the other mutoalis- 
tic arrangements between natural organ- 
isms, of which there are many. Mycologists 
celebrate the research for its emphasis on 
fungi, which are of fundamental impor- 
tance to afl ecosystems on land and yet 
which are so robustly ignored that most 
universities do not bother having a mycol- 
ogist on tbeir faculties. 

“Fungi are more numerous than plants 
by sixfold, yet there are a tenth the number 
of people studying them,” said Dr. Thom- 
as Bruns, a mycologist at the University of 
California at Berkeley. “That's starting to 
change as ecologists recognize that fungi 
are the basis of all terrestrial ecosystems. 
These papers add a lot of wonderful new 
data to the fungal sequence banks.” 


mm 


ism; 


Contraception’s Short Revolution 


By Robin Herman 

Washington Pw Service 


W ASHINGTON — It was a rev- 
olution in a pill. It separated 
sex from reproduction and 
turned bobby-soxers into the 
Woodstock generation. It liberated women 
from fear of pregnancy and underpinned a 
drive for political ana economic equality. 

It was the birth-control pell, approved 
by the U. S. Food and Drug Administra- 
tion in 1960. Together with the plastic 
intrauterine device (IUD). which became 
available four years later, it formed the 
first wave of modern birth-control meth- 
ods. 

This new breed of contraceptive was 
reliable, long-lasting, reversible and dis- 
creet A woman could take precautions 
outside the bedroom and without discus- 
sion. More than a dozen pharmaceutical 
companies worked feverishly on compet- 
ing versions of the new products, readily 
accepted by millions of women. 

But the revolution in contraceptive re- 
search was short 

Today, three decades later, not a single 
sew approach to contraception has 
reached the market. Recent products are 
only permutations of the original hormone 
pills, IUDs and the age-old hairier meth- 
ods. The American pharmaceutical indus- 
try is id nearly full retreat; only one com- 
pany continues substantial research. 

Contraceptive products that were once 
plentiful, such as IUDs, have been with- 
drawn, and European companies skirt the 
American market Foundations that used 
to support contraceptive research no long- 
er have an interest. Academic fellowships 
in reproductive biology have dried up. Pri- 
mary research involving the design and 
testing of new methods has moved to Eu- 
rope and Asia. 

"The atmosphere for research is abys- 
mal,” said Anita Nelson, an obstetrician- 
gynecologist involved in human trials of 
new contraceptives at Harbor-UCLA 
Medical Center. “We have nothing in our 
hands now available or coming down the 
pipeline that isn't based on basic research 
done in the 1960s.” 


“Reality.” the new “female condom,” is 
just a large version of the male sheath. 

Moreover, according to an Institute of 
Medicine report, “there is no broad public 
demand for the development of new con- 
traceptives.” Indeed, the fertility rate in 
the United States has stabilized at 1.8 per 
woman over a lifetime, about the same 
level as in other industrialized countries. 

But scientists in reproductive medicine 
hear an urgent cry for better kinds of 
contraception in the following statistics; 

• Fifty-seven percent of all pregnancies 
in the United States are unplanned: 3.6 
million unintended pregnancies a year. 
And it’s not just teenagers. According to 
the National Institutes of Health, SO per- 
cent of unplanned pregnancies are to 
women 20 and older. Almost half end in 
abortion, and the rest result in births. 

• The abortion rate in the United States, 
almost 30 percent of all pregnancies, is 
much higher than in nearly all other indus- 
trialized nations. In Britain, it’s 16 per- 
cent; in Canada, 17 percent. 

• Female sterilization, an operation to 


damp or cauterize the fallopian tubes to 
cause permanent infertility, is the second 
most popular method of contraception in 
the United Slates just after the birth-con- 
trol pill. And a surprising percentage of 
mamed women under 30 resort to this 
irreversible step, more than 12 percent and 
on the rise. 

• Teen-age pregnancy in the United 
States remains high. Twelve percent of all 
women ages 15 to 19 and 2! percent of all 
those who have had sexual intercourse be- 
come pregnant each year. 

To the extent that there is interest in 
designing new contraceptives, the driving 
force is the AIDS epidemic. The govern- 
ment's priority is to fund research to find 
products that would protect against preg- 
nancy and sexually transmitted viruses 
such as HIV and herpes. 

F°r Ur. Nelson, more fundamental is- 
sues mitigate against vigorous research 
into contraception in the United States. 
‘There is an ambivalence,” she said. “I’m 
not sure we feci comfortable as a society 
having women control their fertility.” 


IN BRIEF 


Cancer-Fighting Veggies 
May Be on Market Soon 

BRIGHTON, England (Reuters) — 
Vegetables grown to contain extra sub- 
stances known to protect against cancer 
and heart disease could be in markets 
within five years, scientists say. 

Researchers at a Biochemical Society 
conference here said fruits and vegetables 
could be bred to provide more anti-oxi- 
dants, which neutralize particles that can 
help cause cancer and heart disease. Fruits 
and vegetables naturally contain anti-oxi- 
dants such as vitamins A and E. 

“Our way would mean that people would 
eat the same amount of food, fruit, or what- 
ever, but it would contain increased 
amounts of anti-oxidants,” said Dr. Peter 
Brantley, head of biochemistry at Royal 


2 American Scientists 
Are Winners of Japan Prize 


TOKYO (API — American scientists 
who developed light-emitting diodes and 
biological ways of eliminating insect pests 
were named winners on Wednesday of the 

S500.000 P!ID Pri “' EaCh wiH mei ” 

?h r ; fi? H 9 ion yak Jr.. 66, a professor 
at the University of Illinois, is to receive 

the prize for inventing the first practical 
light-emitting diode in the early 1960s 

and for his later work on semiconductor 
lasers. 


I r: : 
1 ^ ; - 

k : 


. 4 


Holloway College in Surrey, southern Eng- 
land. "I would say that the introduction of 


xWew products like Norplant, the contra- 
ceptive implant, and Depo-Provera injec- 
tions are simply new ways for women to 
receive ovulation-suppressing hormones 
like those contained in birth-control pills. 


t the introduction of 

plants that have been manipulated to pro- 
duce more effective anti-oxidants should be 
passible within five years.” said Catherine 
Rice-Evans, professor of biochemistry at 
the United Medical and Dental Schools at 
London’s Guy’s Hospital. 


Dr. Edward Fred Knipling, 85, profes- 
sor emeritus at Florida State Uni vers ty, 

was., osen ^ or having developed ihe use of . 

sterile insects to fight insect pests. He was fr 
successful in eradicating the screwworm 
ny, a sometimes fatal pest of livestock in 
Mwuco and the United States, by sterilfc- 

15™°^ 11)01 rele w»ns them inn? na- 

65 lh ?* matft d with the sterile ffi© 
^ C bers*' rCKiUCC °^ s P r * D & reducing their 


feX, 

s-. v K, 


v * s'. 






- * 
■s*. «v -S- 


V 

t 

















J*J Xt^uSp 


International Herald Tribune, Thursday ; December 15. 1994 


Page 9 


''ISS 




\ f f air 




THE TRIB INDEX 111 16 0ii 

Mo™eSonlS W Tnt,une Worlti S,oek lnt,ex «■ Mm***? 

Byjfcomben, 



A(**o»- weighting 32°, 
Close: 121.82P>w 121.33 


Apptsi. woghmg 37°i 
Cbsf 111.73 Prev no 93 


J A S O N D 


J A S O N D 



1994 


1994 

Appion. weighting: 26*i 
Close. 95.19 Prev. 94 14 
) 

M 

Approx waghbng.- 5% 

Close. 133.41 Piev.- 13135 

n 



, Work) mile* 

Tho index tracks US. doBar values of stocks vr Tokyo. Nm» York, London, and 
Argwibna. Australia. Austria, Belgium, Brad, Canada, Chile. Danmark, Finland. 
Franca, Germany, Hong Kong, Italy. Mexico, Netherlands, New Zealand, Norway, 
Singapore, Spain. Sweden, Switzerland and Venezuela. For Tokyo. New York and 
London, the Index t$ composed of the 20 top issues In terms of market capnakzsoan 
otherwise the tan fop stocks on? Hacked. 


-Industrial Sectors 


Energy 112.10 111.44 -m .59 Capital Goods 112.03 m .24 ^qji 

muffles 12596 124.66 + 1.04 Raw Materials 127.95 127.20 -tO .59 

Finance t 10 .P 1 110.35 - 0.31 Consumer Goods 102.19 107,56 + 0,62 

Services 11 1.83 tia 4 B +122 MfaceUaneous 112 J 7 171,62 +li 1 

For more information about the Index. 3 booklet is available free of charge. 

Write to Trib Index, 181 Avenue Charles de GauSe, 92521 NeuiBy Codex, France. 

Ol n tBn inHo r w J Herald Tiftmg 


Proton Leaves Its Malaysian Nest 

State-Backed Automaker Faces Barriers in Europe 


By Michael Richardson 

International llerahl Tribune 

KUALA LUMPUR — After rising to 
dominate Malaysia’s car market in less 
than a decade, the state-controlled auto- 
maker has set its sights on expanding 
exports to Europe and throughout Asia. 

But the company, Perusahaan Oiorao- 
bil Nasional Bhd., will probably find the 
export road much rougher than its home 
highway. 

it can expect to run into protectionist 
barriers similar to those that foreign auto 
companies complain of in Malaysia, ana- 
lysts and company officials say. 

Since it started production nine years 
ago, Perusahaan Olomobi! has used 'pref- 
erential tax treatment given by the gov- 
ernment to undercut rivals. For example, 
the company pays only a 13 percem 
tariff on its imported components while 
foreign competitors in Malaysia pay 42 
percent. The company captured 74 per- 
cent of car sales in Malaysia in 1993 with 
its Proton brand name, up from just 11 
percent in 1985. 

Perusahaan Otomobil is 40 percent 
owned by government-controlled enti- 
ties, after listing on the the Kuala Lum- 
pur stock exchange in 1992, and 17 per- 
cent-owned by the Mitsubishi group of 
Japan. 

Now, as it is about to launch sales in 
France, Belgium and Luxembourg fol- 
lowed by Germany and the Netherlands 
in the first half of 1995, the company is 
starting to feel protectionist pressures. 
The European market remains saturated 
and local manufacturers are worried 
about inroads by Asian carmakers. 

Perusahaan Otomobil plans to sell just 


12,000 Protons in continental Europe in 
1995. By contrast, Daewoo Motor Co. of 
South Korea wan ts to sell 1 00,000 cars in 
its first year. Even so. European carmak- 
ers are applying “strong and growing 
pressure” on the European Union to 
remove Malaysia's duty-free access, said 
Norzahid Mohamad Zahudi. deputy 
manager of Perusahaan Otomobil' s busi- 
ness division. 

“Europe is a very competitive mar- 
ket,” he noted in a recent interview. “Ev- 
erybody's having a tough time.” 

Malaysia can import its Protons duty- 
free under the EU’s Generalized System 
of Tariff Preferences for developing 
countries. Mr. Norzahid said that Euro- 
pean carmakers were seeking a tariff rate 
of around 4 percent on vehicle imports 
from Malaysia. 

More than 600,000 Protons have been 
produced. Since 1986. some 92.000 have 
been exported to at least 20 countries. 

Britain is by far the largest export 
market with cumulative sales of nearly 
79,000 to September, followed by Singa- 
pore, with nearly 10.000. 

Exports to Britain so far this year have 
beat significantly lower than in 1993, 
when a record 17.440 units were sold, 
because of tougher competition — espe- 
cially from cheaper South Korean mod- 
els. 

The Proton, and the skills and technol- 
ogy which its development are intended 
to bring, is a cornerstone of a govern- 
ment program to make Malaysia a fully 
industrialized country by 2020. 

Evidently seeking \o play down Ma- 
laysia's auto-export drive. Prime Minis- 


ter Mahathir bin Mohamad said recently 
that the Proton was seeking only a small 
niche in the international car market. 

“We have no great ambition, but we 
would like to be able to export at least 
half of what we produce.” he said. 

Around 20 percem of annual Proton 
production is currently exported. Peru- 
sahaan Otomobil hopes to export 30 per- 
cent of production by 1995. when it ex- 
pects output to reach 150.000 units per 
year. 

To achieve that goal, the company will 
have to export nearly 25.000 additional 
cars in 1995 on lopot the 20.269 sold 
overseas in 1993. 

To gain economies of scale. Proton 
will have to push for higher sales in both 
the domestic and export markets, ac- 
cording to an analyst at HG Asia (Ma- 
laysia) Sdn. “Given that additional ex- 
pansion of its domestic market will be 
difficult. Proton must look to the export 
market for further growth,” he said. 

Mr. Norzahid said that Perus ahaan 
Otomobil's strategy “is to really concen- 
trate on Asia while’not forgetting the rest 
of the world.” 

Despite objections from Japanese 
companies that dominate the loial car 
industry in the Philippines. President Fi- 
del V. Ramos said last week that he had 
approved plans for Protons to be assem- 
bled in the Philippines for sale locally 
and overseas starring in 1996. 

The car will be produced by Proton 
Pilipinas Inc. That company will be 70 
percent owned by Perusahaan Otomobil 

See EXPORT, Page 13 


Hong Kong Plot Gets No Bids at Auction 


Compiled by Our Staff From Dispatches 

HONG KONG — The government 
withdrew a residential site from a land 
auction Wednesday after it attracted no 
bids, the second time in a decade that an 
offering has flopped in Hoag Kong. 

The government auctioneer called the 
result disappointing, but analysts were re- 
luctant to term it a benchmark for the 
property sector, which makes up at least 45 
percent of stock market capitalization. 

“It’s not a disaster.” said Alexander 


Webber, a director at Vigers Hong Kong, a 
property consulting firm. 

The last time Hong Kong had to with- 
draw a residential site from auction was 
during the 1983-84 period, when China 
and Britain were negotiating the colony's 
1997 return to Chinese rule. 

Developers said the opening price of 380 
million Hong Kong dollars (S49 million) 
for the 8,431 -square-meter (93,678-square- 
foot) Yuen Long plot was too high because 
the area was far from the urban district. 

A second lot zoned for parking and ware- 


house use sold for 170 million Hong Kong 
dollars, at the bottom end of expectations. 

Analysts said the auction confirmed fore- 
casts of a further 10 percent to 15 percent 
fall in residential prices by mid-1995. 

Hong Kong property prices soared more 
than 60 percem in 1993 and 30 percem in 
the first quarter of 1994. 

The Hang Seng index fell more than 100 
points within 10 minutes of the announce- 
ment of the withdrawal but managed to 
recover to dose up 147.60 points, at 
7,99735. ( Reuters, Bloomberg, AP, AFP) 


U.S. Markets 
Cheer Reports 
Of Low Inflation 


Compiled by (ha Staff From Dapocha 

NEW YORK — Stock prices 
rose Wednesday as Wall Street 
responded to favorable infla- 
tion data. 

The Labor Department re- 
ported that its consumer price 
index rose just 0.3 percent in 
November as cheaper clothing 
and airline fares offset increases 
in energy and vegetable prices. 

Another report showed that 
capacity utilization, a closely 
watched gauge of future infla- 
tion, came in at 84.7 percem. 
The figure was lower than ex- 
pected and below the 85 percem 
level that would indicate up- 
ward price pressures. 

Producer prices, reported on 
Tuesday, edged up 03 percem 
in November. The core rale, 
with the volatile energy and 
food sectors omitted, gained 
just 0. 1 percent. 

Analysts said the reports al- 
layed fears that the Federal Re- 
serve Board would raise interest 
rates before the end of the year. 
Wall Street now expects the Fed 
to pm off further rate rises until 
early next year, they said 

The Dow Jones industrial av- 
erage closed up 30.95 points, at 
3.74639. Advancing issues out- 
numbered declining ones by a 
2rto-l ratio. 

“The data show that yearly 
inflation is 2.7 percent, and that 
inflation next year will be 3 per- 
cent, which the bond market al- 
ready started to discount for the 
first quarter,’' said Peter Cardfllo 
of Westfalia Investments. 

Bond prices rose after the eco- 
nomic reports, but they fell back 
in later trading. The 30-year 
Treasury bond finished down 
2/32, to 95 27/32; that put the 
yield at 7.86 percent, up 0.01 
percentage point from Tuesday. 

“People think we’ve struck a 
happy medium: Rates aren’t 
going a whole lot higher, and 
the economy is perking along at 
a reasonable rate,” said Jim 


General Mills 
HanstoSpUt 

Bloomberg Business News 

MINNEAPOLIS — General 
Mills Inc. said Wednesday it 
would split, creating separate 
consumer foods and restaurant 
companies on June 1. 

Consumer foods, which will 
retain the General Mills name, 
will hold about 80 percent of 
the company's existing debt. In- 
cluded will be brand-name 
products such as Betty Crocker 
mixes. Wheaties. Cheerios, Yo- 
plait and Gorton's seafood. 

The restaurant operation will 
be spun off to shareholders as a 
company that is so far un- 
named. It will include Red Lob- 
ster. Olive Garden and China 
Coast, and it will hold 20 per- 
cent of the existing debt. 

General Mills shares soared 
on the news in late trading on 
the Pacific Stock Exchange, 
gaining $2.50 to 548. 

Existing shareholders would 
get one share of the new restau- 
rant company for each General 
Mills share they own. 

Consumer foods is expected 
to have a larger cash flow after 
the payment of dividends and 
fixed-asset investments than 
the combined company. Its goal 
will be to increase earnings per 
share by 12 percent a year. Gen- 
eral Mills said. 


Benning, a trader at BT Broker- 
age. “I don’t see a lot of danger 
out there for stocks.” 

The Commerce Department 
also reported that the U.S. trade 
deficit widened in the third 
quarter to its biggest shortfall ip 
nearly seven years as America’s 

See STOCKS, Page 10 


ITIONAL MANAGER 


H * ’ 


ntioi 




Daimler Changes Guard, and Vision 


By Brandon Mitchener 

Internationa/ Herald Tribune 

S TUTTGART — Edzazd Reuter 
still has another five months at 
the helm of Daimler-Benz AG, 

but the sprawling transportation 
and technology conglomerate is already 
feeling the effects of his departure. 

While Mr. Reuter exudes an apparent- 
ly boundless patience with his decade- 
old dream of hitching a global high-tech 
company to Germany’s flagship auto- 
maker, his designated successor, Jflrgen 
Schrempp, is watching the cash register 
and the clock. 

A dramatic change in the company’s 
competitive environment, coupled with 
an earnest desire to set an example in 
shareholder value, have made Mr. 
Schrempp, the pragmatic bead of Daim- 
ler’s Deutsche Aerospace AG division, 
disinclined to wait for nebulous syner- 
gies to produce profit. 

Mr. Schrempp, like Mr. Reuter, does 
sing die praises of coiporate continuity, 
which means maintaining the grand vi- 
sion of being global leader m automo- 
tive, aerospace and electronic technol- 
ogy. “No one in management questions 
the decision to go beyond cars,” Mr. 
Schrempp said. 

Mr. Reuter, giving his last speedi at 
the company’s annual Christmas dinner 
with journalists, said a return to operat- 
ing profit this year after a dismal perfor- 
raanw in 1993 had confirmed that the 
company was “on track.” 

He said that operating profit for 1994 
was likdy to be more than double the 926 


million Deutsche marks (SS88 million) 
reported for the first half. 

Nevertheless, Mr. Schrempp, facing 
the need to continue the company’s re- 
structuring despite an economic recov- 
ery, promises to be increasingly ruthless 
in plans to close plants, lay off workers 
and sell unprofitable units. 

“It takes more courage to sell some- 
thing than to buy it But 1 will be the first 


The successor is 
disinclined to wait for 
nebulous synergies to 
produce profit. 


D aiml er chairman with manufacturing 
experience,” Mr. Schrempp said, adding 
that “that lends me a certain credibility.” 

At Deutsche Aerospace, Mr. 
Schrempp recently pressured unions to 
approve the company’s plans to close six 
German manufacturing plants and lay 
off 10,500 workers. He is expected to 
follow through at Daimler, cutting local 
manufacturing capacity and spinning off 
noncore activities. 

While Mr. Reuter’s goal was to forge 
an integrated high- technology group, ac- 
tive in everything from missiles to micro- 
chips, Mr. Schrempp is expected to focus 
on transportation. 

He is using the period of transition to 


visit Daimler units around the world, 
listening to the complaints and sugges- 
tions of local managers in an effort to 
establish strategic priorities. 

One of the most pressing problems 
confronting Daimler is what to do with 
AEG Daimler-Benz Industrie, the hold- 
ing compan/s perenially unprofitable 
electrical engineering division. 

AEG has been busy selling what it 
calls noncore activities, but industry ana- 
lysts are still unsure what the core is 
supposed to be, describing the compa- 
ny s myriad divisions as mostly too small 
to survive. 

“They still need to find partners or sell 
a lot of what’s left,” said Joachim Berns- 
dorff, an analyst with Bank Julius Bflr 
(Deutschland). “It was a mistake to buy 
AEG in the beginning and they're still 
trying to correct it.” 

In an interview. Mr. Schrempp evaded 
a direct response to AEG issue but said 
Daimler would re-examine its support 
for parts of the group that did not belong 
or were too expensive to maintain. 

The same goes for other areas of the 
group, including Deutsche Aerospace, 
which continues to lose money on its 
defense activities and has reported 
slumping sales in dvfl aeronautics as 
well. 

Company officials said Mr. Schrempp 
would try to make changes in a way that 
allowed Mr. Reuter to save face. But, 
given a choice between embarrassment 
and continuing losses, Mr. Schrempp 
would choose to be embarrassed, they 
said. 


CURRENCY & INTEREST RATES 


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Lyonnais. 

Gold 

AM. PM. Oi-ge 
ZariOi 37625 38625 +631 

London 37636 38650 +L40 

New York 38UU 3TJ0 +U» 

L/J. donors per ounce. London official Hr 
bos; Zu ri ch a nd New York aemktu and das- 
tog prices; New Mar* Comex iFebrvon I 
Source: Rooters. 


NHL and Hoffman to Merge U.S. Labs 


Reuters 

LA JOLLA, California — National 
Health Laboratories Holdings Inc. and 
Hoffman- La Roche Inc. said Wednesday 
that they would merge their U.S. clinical 
laboratory operations, creating a new com- 
pany that would have annual revenues of 
SI. 7 billion. 

The merger was the latest in a consolida- 
tion among health-care providers as the 
industry strives to cut costs. 

Under the agreement, Hoffman-La 
Roche, a unit of Roche Holding Ltd. of 
Basel, Switzerland, will merge its Roche 
Biomedical laboratories of Burlington, 
North Carolina, into the new company 
and will acquire a 49.9 percent interest 

Hoffman-La Roche, which has its U.S. 
headquarters in Nutley, New Jersey, said it 


would also provide S186.7 milli on in cash 
and would receive 83 million warrants to 
buy shares in the new company. 

National Health said its shareholders 
would have a 50.1 percent stake in the 
firm. The transaction calls for each Na- 
tional Health share to be exchanged for 
0.72 share of the new firm’s stock and a 
payment of $5.60 in cash. 

The stock of National Health Laborato- 
ries rose $1-50, to $ 13.00, on the New York 
Stock Exchange. 

National Health Labs had revenue last 
year of $761 million, and Roche Biomedi- 
cal Labs had revenue of $712 mil lio n. 

National Health, which provides clinical 
lab services in 44 states, said it expected to 
declare a dividend that would be payable 


to holders of record of common stock three 
business days before the merger is com- 
pleted. 

The dividend will consist of warrants, 
exercisable after five years, to purchase 
shares of the new film's stock at $22 a 
share. They will be distributed at a rate of 
about 0.163 warrant per common share, or 
a total 13.8 million warrants. 

National Health said the merger was 
conditional, pending a favorable vole by a 
majority of its shareholders, and was sub- 
ject to expiration of the waiting periods 
required by law. 

Mac Andrews & Forbes Holdings Ino, 
which owns 24 percent of National 
Health’s outstanding shares, has approved 
the deal. 


Disney to Cut Entrance Fees by 22% at Paris Park 


The AaocUUed Press 

PARIS — Euro Disney SCA 
said Wednesday it would slash 
entrance fees more than 20 per- 
cent at its financially troubled 
theme park east of Paris. 

The company hopes the price 
cut can be offset by attracting 
700,000 or more additional visi- 
tors. The move could lower 
1994-95 operating revenue by 
up to 5 percent if attendance 
does not rise. 

Entrance fees for adults wifi 
drop 22 percent, from 250 


U.K.Bank 
To Cut Staff 
By 3,000 

Agenee Franae-Presse 

LONDON *— Standard 
Chartered PLC, which has a 
strong presence in Asia, said 
Wednesday that it was cutting 
3,000 of its 30,000 staff world- 
wide in 1995. 

A Standard Chartered 
spokesman declined to com- 
ment on a report that the bulk 
of the.cuts would be made in 
India, saying only that the re- 
structuring would be imple- 
mented “across the board.” 

“We are not labeling any spe- 
cific countries,” he said, al- 
though he added that British 
operations would not be affect- 
ed. 

The bank’s Hong Kong 
branch trimmed its staff this 
year when the colony's Securi- 
ties and Futures Commission 
disciplined the stockbroking 
arm for malpractices. 

The bank was also hit by a 
share scandal in Bombay in 
1992. 


francs ($46) to 195 francs, from 
April 1 to Oct 1. 

Euro Disney said it would 
offer discounts in the period be- 
fore the new fees took effect, 
including allowing one child to 
come free with an adult who has 
bought a package that includes 
lodging. 

Euro Disney’s chairman, Phi- 
lippe Bourguignon, said the de- 
cision to lower fees became pos- 
sible "after 18 months of 
backstage improvements to in- 
crease operating effectiveness.” 


The company posted a loss of 
1.8 billion francs in 1993-94 but 
predicted it would break even in 
1996. The park’s attendance in 
1993-94 was 8.8 million, down 
from 9.8 million in 1992-93. 

At a separate news confer- 
ence, Claude Villain, the gov- 
ernment's chief liaison with 
Euro Disney, said the state had 
recouped its 2.8 billion franc 
investment in the theme park. 
He said tax revenues from park 
had amounted to about 1.4 bil- 


lion francs a year during each of 
the first two years of operation. 

The park, now known as Dis- 
neyland Paris rather than Euro 
Disneyland, opened with much 
fanfare in April 1991 

After posting a loss of 53 
billion francs in fiscal 1992-93, 
Euro Disney’s creditor banks 
and Walt Disney Co„ which 
owns 40 percent of the park, 
announced a rescue package in 
March that included a6-biUion- 
franc rights issue. 


CORUM 

Mcdires Artisans dHorlogerie 


SUISSE 


mV r • 


Admiral's Cup with enamelled nautical 
For a brochure, write to: Corum, 


pennants marking the hours. Registered modeL 
2301 La Chaux-de-Fonds, Switzerland. 


i 


Page 10 

MARKET DIARY 


lyrERNAFIONAL 


mrPAI.n TRIBUNE, THURSDAY, DECEMBER IS, 1994 




VnAMdeMPiM 


Mark Gains on Dollar 


Dow Jonas Averages 


BlBOPCAH wmiBBS 


As Rate Fears Subside 


OpM HW W W °*- 


Metals 


rjeac 

Wd ** 


5F 


1 SU imo lmw row* iml * 4 41137 mwi ”* "wSM^am M 


Dealers said thedollar also 
continued to be ««K““L£ 


Standard A PoortSndww 


Cor^byOvSitfFHmDm^a* continued to be rcstrameo oy $ 

NEW YORK — The doDar of .the ^ I 

dipped against the Deu^he mark-Traders said capital fgws . - v-s.. 

mark and other major Europe- continued to bolster th :. 38 Q& • c*|u ■;■ 

an currencies on Wednesdayaf- ^ uflit ****** r -'V#k 

ter data on U.S. November con- weakness in southern European . y.^ i 
Sumer prices and rapacity use f^ancaa! markets. 

^-B-sssa ,nm:i 

Foretan ExchanflO and liraand a ^basically put _ ^ - r. 


SSUm mm 3 wuS i®s irauw 
catwpS 

^ w °wm !%10 254000 94 SW 

»SU«i SSS S 8 S 58 


^ low !»»»«• am 

|y 15200 15 l 2 “J? isjl +jS 

2 N.T. H-T. KX + 1 J 5 

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Advent Is 

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f0kk d 


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fli» ?har 


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Utilities 

Flnonct 

SPOT 

SPIN 


HM SS* 

54021 53 &M 53 M£ +W} npiwe nar maMcj ten 

uiM 3301 MIM +M! Sjwj* tlUO 

153 J 6 15140 15131 + tJj Forvnrd 431 M 

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SaSSS 43100 42 S 40 fi26 - fl0 


£ its m h m ta 


was to be a princq>w j ^ Semens AG. 

memorandum- t was hold*® company takinga 

The German ^puB 

atmut the possibility ^vnoany. It aiso 


jd\". : 


NYSE Indexes 


WlMO 7 mx WOOflO 
g&nrt M§J» M 4 W* S 13 O 00 514000 

Sr-TBn *f»gsaS 8 


Foreign Exchango 


^ a lid oo the dollar. 


se™ Board might not lift raw Farrell, vice £ 

Tuesday ofns chase Manhattan Bank ^ 
Federal Open faring «, mrn the technicals 


Conwosin 

Industrials 

Tramp- 

utmiv 

Finance 


IW LP USl 

MH.F 1 24172 24033 +J 41 
312^7 OTAI 3 UJB ^ll? 
Slip 212 J 5 ma ‘fix 
mW 20043 202 JV 
1 H 24 193.1 B 19 AW *245 


ZINC W*WHWg*l 

Wlar * m "GKTw « lOfiSJO 1 DOJO 

M 5 ImJO 1 W.» 1W ^° 


SS v& lTK 

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it® w* 14 W + 0.10 

1 tl 3 14 U 5 »“ ira +043 

1118 16 .« ftw +OM 

1 A 23 llri 1433 l*g +046 


aboul the P^X^ecompany- 

s®MS , *r , “.*'SS 


tZ. TVm for Philip Morris 

at the Top tor ^ m 


Open ini' WW® 


^.trolwm o: * 5434 . OP^.m. 

stock Indem 


Change at UR? iU r v thedtairmanofHnfo 

/AP) — William Murray- l tb2I1 a year m the 
^7 ^1 retire in Februmy af ^ gjg^e placed by 
MorT ? ( ^Tv Synced Wedo^He 

job, a^lSSiTyear for die $61 


Financial 


policy- mHAjiig, * - * 

Market Committee. 

•S’®*®? 2 ? 

gffiSSS 

U ^ a iovement se^ 

concentmted m Em^howw- 


starting toturauw — 
“t^ s"d that the 0J2 pear- 




I NASDAQ Indexes 


ccntriseuithe core U.S. con- 
ninwr mice index was a shade 


S"3TE dSSr - w. 

. i .jMinet the ven. The 


***3385 

up slightly hom i 00 - 285 on 

TH^y- wnle exoect the 


sumer pnee inucx 
bdow expectabons, while 
02 paSt rise in > lov ^® b ®J 
caparityus® was g^jragM n 

Kdi market .eroectoboos. 

Nervous pobtical situauons 
in ItSTand France allowed the 
mark to gain ground. One 
French bank deafer said inv«r 
mwe “looking for a qu^ty 


NYSE Most Actives 


OonwMRe 

industrials 

Bcnk 5 

InsunoW) 

Finance 

Transn. 


H |gn LOW OOM 

SJAOMTM sreRUHO IUFPE 1 

mtOM - FTS of 1 H pci 

iw «51 »45 

S v& ss jss 

S ng ™ tsa 

r s ws ig 

sS nS Si 2£ tSSi 

s 1 II IS II 

"lat voftjmJfwW. SsSi 

WAOMTti EUMMLURS IUFFE) 

9347 +049 

* 3 ?. NX tKS 


ftseihcu™ 

S£ S 


^iattypeopW^e SBSiifflg 

Fed to move oo the 20 th, sud f OT Bundesbank to 

Bdal Khan, a dealer at Bankof rates .-’ . . 

Tokya “The Fed will probabiy ^eu/ers, Knight -Ridder) 

wait to see the January figures. . 


AT&T 
NHnt-ab 
v wanes 
Wa»tort 
Compaas 

GlabM 

TeiMox 

rjr Nan 
fAer&. 
GenBs 
Gukumn 

aticorp 

Will Cor 

Sprint 

FordMS 


Hyb LOW UKt aw. 

51 <A 49 % 51 •'I* I 

in** im 13 W *ig 
31 * 30 * 3 VA +£ 

22 * 22 V. 22 * ** 

39 V. 37 * 37 * — 

m n w — v? 

32 * 51 # SI* +» 

M* 

49 «Vh 45 * +* 

14 * 14 * 14 * r- 

41 * 42 * +JJ 

10 * 10 * 10 * — * 

31 * 3 <Hi »V. 

7 £Vl 26 26 * * * 


Sjl i«S gg. 9 U 5 

S&E K SST 

igSs S 8749 19140 * 540 s*P TIM 

M 946 84345 SSc 

cam aattJB <a*» * 1J7 Maf 


KiS £ 2 U 2 53446 


AMEX Stock Index 


i r*t chs. 


42342 420.18 42347 *«* jj? 


ST vEa S£S +S 3 

MV «® ^S 5 mlo + 3 U 
194 +M +V 40 

I iilj 

wriumc: 2 fcOT. «• -"T 

Ocrton * 


a year 

|4r.«Rs7.^bnfl»"“ . 


“s=a»&ss^ s 

Borden to Get uonj^tal and iuafffi- 

mLUMBUS, Ohio (Blooh^rg) eristihg.^t 

a Sl06 bilhon^to^^vis, Roberts &Co. 




completirm^hs 


Dow Jon— Bend Awragw HtinMN 

rime Ortte HE. 


5 S Ef. N.T. «•» 

tsfsasKsa.^™ 


Amt R«c Pot 


a Bonds 

U Utilities 
10 industrials 


+ 0 . 1*1 jn 
+ 0-17 S 3 


9 U 5 +044 

S 3 a +043 
W 4 * +046 

9364 +OOS 


IRREGULAR 

i BSEM ml, £ 

c+ndude* 43 cup sows- 


-^•swgBasssgss 


+ 020 Dec 


(Reuters, Knight-Ridd^) /yp EX Most Actives NYSE Diary" 


STOCKS: Gain on Low Inflation 


- which is basically 

Continual from Page 9 wha ^people in the governmOTt 

appetite for imports contmued . w saying, but you never 
unabated. . believe them,” Ms. Keiter said. 

. tap«ti otuentontoe haw igwi reports ccm- 


USBkxSd 

viocvn 

VlocB 

TeCrto 

ROVOWO 

ALC 

IrrterCHa 

ENSCOs 

IwoxCd 

Olsten 


VoL IfiOtl LOW L «4 
21146 2 * DVh 2 *t 


none i* 
9748 » 


6122 42 * 40 * •«* 

5561 3 ¥h Wh 3 * 


4611 25 * 28 
4*72 m Wu 


BZ 2 A 12 * II* 1 ],* 
2912 18 * 18 * IB* 


3809 29 * 28 * 29 * 


+ Vu 

-JJh Advanced 
+ * Declined 
+ 9 * UncntBWed 
+ * Total issues 
** NewHW»s 
♦Vb Mew lows 
+ *to 

+* AMEX Diary 



NASD AQ Most Actives _ 

V«L HWh LOW LOS* OM. 

153854 17 15 * 15 * — >* NewHIahs 

19 18 V. 18 * — * New LOWS 

S 781 61 * 60 JO* — * 

3*07 22 * 21 * 22 opmbbw 

jim 25 * 24 * 25 * V * II M CHI 

sss a 1 7 $ 

SB P 8 -* Advanced 

2^5 ^ 39* — W Declined 


Imports of mcrcnaxitu^*^'>- lales i reports con- 

been climbing to record highs ,L al view, she said, nomhi 

as the U.S. economy eipOT^ ^ ^ wmet hing 

more rapidly than that of other ^be iney wgr 

“TbS’^rrent account deficit The mosi-actively traded Eg 

- ^ — o[ '£&£££ e 

- n o stock* markk after the software com- Kg. 

UJS* Stock* _ posted fourth-quarter b™* 

jE 1 WSSJBESB BSSW** - 

up a $ 43.2 billion trade defiat, a year ago. SSS 

But analysts said the deficit was aT &T shares woe the imwt , aa 


UA Stocks 

trade —grew to $41.7 bittion in 


TetCmA 

Vardas 

Topps 

NaxMCm 

AopieC 

mtrf>v 

SeawOvn 

Oracle 

3 Com s 

PrtaeQd 

Sraokstn 

AAksfli 


*sm 61 * 60 60 * 

34427 22 * 21 * 22 


2779 B 15 * 13 * IS* 

25992 38 * 36 * VV. 


NASDAQ Diary 


SZl 5 »* 16 ] 6 * 

24135 40 * 39 * 39 * 


s s tis 


r 3 * is* is* -* 

E ft gL 


1 B 46 1 590 

,428 IMS 
1859 1890 

S 133 5123 

39 JH 

IBS 218 


E*L volume: 163 . 161 . Open 
FF 3 mHBOB - Pj^jt IOOpO _afl 7 

i iiliffi 

5 SP SS «34 92 J 9 +047 

If ^ ti S tS 

Est.vemnw: 157335 . Open hit: 21+741 

aa«HSffl«rt 

Sr" lJa -24 WHO 1 MJ 0 + 0 -U 

^ 1D £? * 0 ! K its 

■* 65 ,. volume^ai 19 . Open mt.- T 2 A 41 Z 

■ GERMARGOVERRA^wr»U*iDlLtFFm 

OM 2 SM 0 »-P»of«»g* _ +U4 

■ «sr g.« iSK 

* 5 * vabna^' 76 M 4 . Open mL: 174 JM*. 
18 -YEAR FRENCH GOV. BONDS [MAT 1 F 1 

£ « Ip yx JB 

. *5 fSJBLeka" 


STOCK SPLIT 

Bowi Anwrloo A 2 lor 1 saw. 

INCREASED 

M nj 12-22 1208 

AB Amc r Tr m Tr » •“ ^ 13 1-30 

Bankers CofP S ,5 7^30 M 

iS&ranA ! -W 13-0 « 

OMITTED 


Am*r RE Partdeoun 

SPECIAL 


, .M 12^0 M 3 


CORRECTION 


AmerPrm « 1 MB 1-13 

i^BasgSuJvSiJa^ 

dend. 

REGULAR 



45 M 3 2-15 1 
® 12-27 LB 
«J 3 12-30 1-17 
m 12S VIS 

SdS i-w 

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M .116 12 -S 
M DO 12-22 1230 
M MU 12-22 1 M 0 
Q .28 12-28 1 -JO 

0 iS 1-13 i - 27 

o JJ 35 12-30 VT 7 
M 4751 T 2-22 12 -M 




Spot CounmodltH 


Markot Salts 


since the fourth quarter of 1987 , 
when the United States racked 
up a $ 43.2 billion trade defiat. 
But analysts said the defiat was 
in line with their expectations. 

The current account mea- 
sures trade not only in mer- 
chandise goods but also in sct- 
vices such as insurance and in 
investment flows and grants to 


NYSE 

Amex 

Nasdaq 

In mtIHom. 


Commodity 

{£S«g owem 

\ZS£ S B ' tan 

Sliver, trov ox 
Steel < scrap). Ion 
Tin. ft 
Zinc ft 


Industrials 

■b Low Lott Settle Ort* 


°M 0 metric toa+ott o* l " torn. 


1^0 uJudonaniwr 

21 M 0 jqn \UJ 5 


475 Mar 
12740 Vfjj 
39956 SSy 
0 J 671 


SS Igg 12S 18S J3 

>«i ^ 9S as 
ffll as as js 


See our 

Real Estate Marketplace 

every Friday 


of the money vfflgp 

5^S55J£br-«- . tF . 

Nike to Buy Hockey EqmP“ 

BEAVERTON, Oi^on(ReutCTS) outs tan<fins sbares of 

thS it planned to pay 5 ^ “bout $395 mflUan. ... . 

Canstar Sports to at ^ 19 . 88 with princyal Aare- 
Thc company said ritad lim agl to acquire their aggro- 

same^per-diflie pnn, ■ 

TfT Qose to Stake in On-line S«Tice 

YORK oem - T ^fflSSMSe i ^ 

nocfWaon of the Windows operating system. 

T P 

new YORK (Combined 

said Wednesday that lower ^—Jnared with the third-quarter 
year's fourthrquarter earnings, compared wirn uw 




NYSI 


^ _ ■ rr % C-y ^ 1 

* 8 ^ *.r.. ... 




S SS25SS French Court Finds Former Magistrate Guilty ofUbd 

»«f; fidencc in Ibe company’s cem- fjieitCIl \MU ^ thetwogroBps .fhe«»rt.fou n d rev said Wednesday , 


2sBsaaBss!fjS£gSF 

earnings per share rf the firm s ^J ^* dividcnd P tt> 75 cents t 


other countries. 

Some analysts said the stoex 
market's rise was part of what 
they called a traditional year- 
end rally. 

“There could be a Santa 
Claus,” said Tara Keiter of 
Natwest Securities. She said the 
market had been lookmg for an 
year-end rally to take hold and 
now it had the economic num- 
bers to support it. 

“The economy is growing hut 
inflation is not getting out ot 


mgs outlook. 

Compaq feU 1 *. to 37 V 4 , as 
corporate officers announced 

* « j 1 J ‘U*f< i 1 «nnc tTl 


Reuters 

PARIS— A Paris court ruled 


the Socialist Party in 
1980 s. 


common share, from 68 cents, aong iKntito-RiddB , t AFX) 

that Air projects for its global business. (ff* 


SSBSggg !rs«bt^ a ^ FonheRecord 


that they' tad sold holdings in Wednnstay ttataoto^u^ 
the computer maker. fe"SS 5 ?Sl?p£fftSNr bid in June to v 


80 s .CU- irt itself 3 6 billion frenen nan» 

It found he had defamed l£- mg this as jwjwg 0 * nifflion) once the state has i gtvm 

Hiirinp his successful Units of Lyonnais^ as wenas mm i . Ucesof a 2 0 - 


^his successful Units of Lyonnaise, as weuoD sUces of a 20 - 

win a seat on a its chief water rival Compagme it capital infusion, 

in the Genferaledes.Eauxand amun- ^ 


« isgs&sss sasaiBsssat =»«,- 

ssssaa? ttsb* ss&bss& r*-"* 


Telfefonos de Mexia) to lonu « ^ 

alliance to offer telecommum- orchestrating political v 


cation services between Mexico 
and the United States. 

Finanrial stocks ralhed in re- 
sponse to the optimistic infla- 
tion outlook. ffgft 

AP, Bloomberg, Krught-Ridderj 


The court awarded symbolic 


SSi^tcringthefund, ^ 

fog scandal that undermmed Aitnougn nc 


In a campaign STof instigations involving 

K&vS-Sm ®^ s ‘ l ° p ^ co£h ' 

each composed of several hun ^ ^ France Yaluation 
*ASSRf*L not nrane The Freach Economy Minis- 


Edmond Alphandery. the 
economy minister, rdeased the 
valuation as Air France pre- 
pared to give employees shares 
m exchange for pay cuts. 


Grupo — » J jg jfSaMStfSS^ 

1 billion peta.^90 Mg* 

fourt h 5 IMrt ? l ? n . 1 < ^ e t-. cut suff by as much 35 10 percent. 




or almost l.uuu p«ipic . (Bloomberg) 

■^SSS^fct-wwari-MI 


Household Memanouai * — " "TEST ^ because hidi 
first-mortgage busuressarid jobs 

interest rates have depressed home sales. ■ 


WORLD STOCK MARKETS 


U.S. FUTURES 


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INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 15, 1994 


Page 11 


Fokker 

Forecast 
Hits Shares 


Trafalgar May Buy Utility 


British Petroleum 


Investor’s Europe 


. ; — ““W r"*n uspmdie, 

v 1 15 PW’ccnt on 

dEEF** a ** the 
uuich aircraft company 

2153 d 5“ its «*“*» for 1994 
would mirror those of 1993 

when it posted a loss of 460 

rauuon guilders ($261 million). 

whi<* is controlled 

5 y ,£ a ff kr " Bcra AG * 

it would announce cost-cuttine 
™«KUres in lie first quarter of 
J *t did not elaborate 

„ ,3“"*® Fokker to 12.30 
Bidders Wednesday from 14.50 
guilders. The stock has fallen 42 
percent this year. 

Daimler’ s Deutsche Aero- 
space AG unit is unlikely to let 
Fokker fall apart, analysts said. 

Andre Mulder, an analyst at 
Barclays de Zoete Wedd in Am- 
storaam, said he expected Deui- 
sche Aerospace to ensure Fok- 
ker’s survival, even it that 
meant providing more capital. 

Deutsche Aerospace con- 
firmed its commitment, but de- 
clined to say anything about 
potential financial help. 

In July, Deutsche Aerospace, 
together with the Dutch govern- 
ment, which holds a minority 
stake in Fokker, agreed on a 
rescue package for Fokker 
worth about 1 billion guilders. 
The plan called for Deutsche 
Aerospace to provide 600 mil- 
lion guilders of fresh capital. 

Deutsche Aerospace has an 
option to buy ah of Fokker in 
1997. (Bloomberg, AFX) 


Ctnepikd by Our Staff Fnm Dispatches 

LONDON — The British property and 
hold company Trafalgar House PLC is con- 
sidering buying Northern Electric PLC Tra- 
falgar's financial adviser, Swiss Bank Corp„ 
said Wednesday. 

Northern Electric said it had not received 


any proposal from Trafalgar aod it advised 
stockbofders to take no action. 


Nevertheless, its stock, which had already 
risen more than 15 percent in the past two 
weeks, closed up 100 pence a share, at 1.010 
pence (51. 58), on the London stock exchange. 

Officials at Trafalgar could not be reached 
i mm ediately for comment 

Such a hostile bid for the regional electric 
company could be countered by a higher offer 
from within the electricity sector, analysts 
said. Another electric company might be able 
to bid higher, they said, because it could 
expect significant cost savings from a merger. 

At the most recent price, it would cost 
Trafalgar more than £1.7 billion to buy the 
regional electric company. Trafalgar was the 
most actively traded stock, closing up 1 
pence, at 72 pence. 

Analysts speculated that Trafalgar's largest 
shareholder, Hongkong Land Holdings Ltd., 


which owns a quarter of the company, might 
be the driving force behind the offer. 

“It looks a bit of a mouthful for Trafalgar 
House, but they have got this rich partner 
behind them,” said Charles Pick, diversified 
industrials analyst at Panmure Gordon & Co. 

Trafalgar made a pretax profit of £13,4 
million in the six months through March, 
after having posted a loss of £98.6 million in 
the year-earher period. 

Ai«> on Wednesday, two other British re- 
gional electric companies reported sharply 
lower earnings. 

Manweb PLC, which serves north Wales 


Sets Profit Target 


Frankfurt 
DAX . 

23*— 


and northwest England, said pretax profit in 
the six months through September fell to 
£23.2 million from £54.9 nuUion pounds in 
the year-earlier period. Sales were £393.5 mil- 
lion, down 10 percent. 


London Electricity PLC reported a pretax 
rofit of £42.8 million for the six months 


profit of £42.8 million for the six months 
ending Sept. 30, down 39 percent from the 
year-earlier period. Sales were £536.7 million, 
down more than 6 percent. 

Both companies said the profit declines 
were largely the result of write-offs related to 
job cuts and debt retirement. 

( Bloomberg, AFX) 


Compiled by Oir Staff From Dupatcha 

LONDON — British Petro- 
leum Co. on Wednesday set 
confident targets for profit and 
for debt reduction based on a 
prediction that oil prices would 
remain steady or rise. 

David Simon, the company's 
chief executive, predicted Brit- 
ish Petroleum would post net 
profit of S3 billion, cut debt by 
S3 billion and increase capital 
spending by $1 billion by 1996. 

The company posted a pretax 
profit in 1993 of £13 billion 
($2.03 billion) and £614 million 
in profit attributable to com- 
mon shareholders. Its most suc- 
cessful recent year was 1990, 


when it posted a pretax profit of 
£2.8 billion and attributable 


£2.8 billion and attributable 
profit of £1.7 billion. 

The company's shares rose 10 
pence, to 413 pence, on 
Wednesday. 

“We believe that there is a 


fair chance of oil prices remain- 
ing around or above the cunem 
516-a- barrel Brent level,’' Mr. 
Simon said. “We consider it a 
realistic planning assumption, 
despite recent softening, based 
mi pretty solid demand projec- 
tions going forward and on con- 
tinued OPEC restraint” 

In 1992, the company set — 
and has met or exceeded — tar- 
gets of reducing debt by 51 bil- 
lion a year, holding annual cap- 
ital spending below $5 billion 
and achieving replacemen i-cost 
profit of S2 billion. 

Mr. Simon said the company 
expected to reduce debt to 
about 58 billion from the cur- 
rent 510.8 billion, primarily by 
divesting $500 million worth of 
assets in 1995. 


London 
FTSE 100 Index 
“ 

— 32“ ~ 

3100 A VM - 


Parte 

CAC40 

m - — - 


tmr*r 


23M UL~!_ 



'■jTYcnrfir j a sono ? m j_a, io « o 

1094 


Exchange 


Overall production will grow 
y about 2 percent a year, said 


by about 2 percent a year, said 
John Browne, exploration chief. 
(Bloomberg, AFX, AFP) 


Amsterdam 

Brussels 

Frankfurt 

Frankfurt 

Helsinki 

London 

London 

Madrid 

IBan 

Pane 

Stockholm 

Vienna 

Zurich 

Sources: Reuters. 


A EX 

Stock Index 
DAX 
FAZ 
HEX 


Wednesday Prev. % 
Close ■ Close Change 

407.19 40641 +0,09 

7,177.98 7,155.66 . +0.31 

2^2477 £011-25 +0.67 

7534)8 757.35 +0.76 


1 JB 0 SLS 9 1 . 806.38 - 04)4 


Financial Times 30 2J293A0 2£67.80 +1.14 


FTSE 100 
General Index 
MtBTEL 
CAC40 


238060 24)46.40 +1-16 

299.76 299.30 +0.15 

flgTOJB 94)68.00 -1.05 

1,8304)2 1317.11 +0.67 


Affeersvaertden 1,839.79 1.843.93 -0.23 


ATX Index 
SBS 


14)864)3 1.030.10 -0-32 ■ 

911.98 908.20 +0.42 


bucnuucual Herald Tritanc 


Inflation Is Rising in Bri tain Russia Starts Debt Fund Very briefly; 

® AFPExiet News - *-*——*■ « *- 


Agettct France- Prase 

LONDON — British inflation jumped in November, the gov- 
ernment said Wednesday, white unemployment plunged for the 
10th consecutive month. 

The retail price index rose 2.6 percent in November on a 12- 
month basis, compared with 2.4 percent in October. Underlying 
inflation, which exdudes mortgage interest payments, rose 2.3 
percent in November from a record low of 2.0 percent in October. 

The number of people unemployed in Britain fdl by 43,000 in 
November to a total of 2,423.01 3, talcing the rale to 8.8 percent of 
the working population — the lowest figure since October 1991 — 
down from 8.9 percent in October. 

Analysts said the figures backed up the government's recent 
decision to raise interest rates. 


FRANKFURT — Vneshe- 
conombank. the bank responsi- 
ble for handling Russia’s for- 
eign debt, agreed on 
Wednesday to set up a $500 
million fund to pay interest due 
for 1992 and 1993 on its debts 
to commercial bank creditors. 


• International TeJcefl lno, a unit of Metromedia Co. has entered 
into five joint-venture agreements to build, operate and manage 
wireless cable television systems in five countries that were part of 
the former Soviet Union. 


sche marks ($9.08 billion) in restructuring aid by the German 
government for the country’s coal industry. 

• Kanfbof Holding AG said it planned to sell an SO percent stake in 


• Lands & Gyr AG, a Swiss dec ironies company, said that net 


f irofit in the year ended Sept. 30 rose 15 percent, to 1 22 million 
rancs ($84 million), and that it would raise its dividend bv 2 


francs ($84 million), and that it would raise its dividend by 2 
francs to \4 francs, citing expansion into new- markets and cost 
cuts. 


The bank said it would pay 
$100 million into the fund by 
the end of the year and a further 
$400 million by the end of 
March 1995. 


• Unilever PLC said it had withdrawn from a project to buy two 
margarine factories in Kazakhstan. 


• Karstadt AG’s chairman, Walter Deuss. said that Christmas 
retail sales had so far been “disappointing.” 

• The European Commission said it authorized 24.3 billion Deui- 


• ivamuoT Holding au said it planned to sell an su percent staxe in 
Service Bank GmbH to GE Capital Coqx, a wholly owned subsid- 
iary of General Electric Co. 

• International Business Machines Corp. said it has sold a disk 
drive factory in Britain to managers who have renamed the 
business Xyratex. 

• British Aerospace PLC said that shareholders had absorbed 
92.32 percent of a rights issue of £178 million ($278 million). 

• France posted a current account surplus of 7.72 billion francs in 
September, compared with a deficit of 291 million francs in 
August. 

• Slovakia’s new government suspended a mass voucher privatiza- 
tion program indefinitely, citing a lack of preparation as well as 
technical and organizational problems. Return. Bloomberg afx. prr 


NYSE 


UMomti SK 

High Law Stack Ottf Yld PE ittt 


LowUneJOfot | HjgnijSS'siixfc Dtv YjgPEjBl Man LawLdwtOfo* 


Wednesday’s Closing 

Tables include the nationwide prices up to 
the dosing on Wall Street and do not reflect 
late trades elsewhere. Via The Associated Press 


12 Month 
Wok Low! 



(This announcement appears as a mailer of record only ) 



Banco Safra 


US$ 100,000,000.00 


10.375% Notes 
pvt/coll options in 1 997 

Notes due 2002 
Issue Price 98.30% 


Swiss Bank Corporation Citibank International pic 


Bear, Steams International Limited Chase Investment Bank Limited 
Goldman Sachs International Merrill Lynch International Limited 
Banque Paribas Union Bank of Switzerland Limited 


Union Bank of Switzerland Limited 


Banco Safra SA 


Head Office: Av. Paulista, 2100 -Tel. (5511) 251-7034 - Fax (5511) 251-7166 - S§o Paulo - SP - Brazil 


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INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 15, 1994 



Page 13 | 


2 Oil Firms Plan 

Merger in Australia 

Rouen _ . 


ASIA/PACIFIC 


Reuters 

SYDNEY — Two Australian 
oii companies unveiled 
Wednesday a $1.55 billion plan 
to merge their petroleum refrn- 
mgand marketing operations. 
- American -con trolled 

Caltex Australia Ltd. and the 


a ™i. ““ ana m< 

Au^alum construction compa- 
ny noncer International Lid’s 
cm division, Ampol LtcL, said 
the merger would give the com- 

nrn#/l oiwim aVa..* no 


about 28 percent or 

til oil mark 



theAustralian retail oil market. 
*bey said the new petroleum 
which will be owned 
by Pioneer and Caltex, 
have an equal market 
share with the current market 
leader, Shefl Australia Ltd. 

The merger proposal follows 
fonryears erf market speculation 
and is subject to shareholder and 
gewem mem approval, as well as 
mproval by the anti-monopoly 
Trade Practices Commissi on . 

If t he merger is successful, 
competition in the business 
would be reduced to four major 
players. Industry estimates of 
the market shares of the other 
two key companies are BP Aus- 
tralia Ltd. at 20.7 percent and 
Mobil Oil of Australia Ltd. at 
20.3 percent. 

The new group is to be head- 
ed by Ampol’s chief executive 
officer, Ian Blackbume. 

The two companies have 
complementary assets with a 
strong presence on the east 
coast of Australia. 


Caltex owns the Kurnell re- 
finery in Sydney and Ampol the 
Lytton refinery in Brisbane. 

Une of the major reasons for 
the merger is the vulnerability 
of both Caltex and Ampol to 
the intense competition m this 
industry,” said Barry Murphy, 
the Caltex chairman and chief 
executive. “This is an industry 
which rewards scale and re- 
quires large capital investments 
not only to expand but to keep 
up with the technology which 
continues to imnmup " 


continues to improve.' 

■ Interest Rates Up Again 

The Reserve Bank of Austra- 
lia raised interest rates for a 
third time in less than four 
months on Wednesday in a bid 
to cool Australia’s fast-growing 
economy and ward off infla- 
tion, Reuters reported from 
Sydney. The central bank in- 
creased the rate it charges com- 
mercial banks for overnight 
loans to 15 percent form 6.5 
percent 

Armed with recent data show- 
ing the economy expanding at 
the fastest rate in the industrial- 
ized world, the Reserve Bank 
governor, Bernie Fraser, said 
rates needed to rise to sustain 
growth, keep inflation low and 
further reduce unemployment. 

“As with the previous two 
increases,” he said, “today’s rise 
is intended to help sustain solid 
economic expansion with low 
inflation well into the future." 


Sony’s Surprise Revival 

Stock Shrugs Off Hollywood Troubles 


By Andrew Pollack 

New York Tunes Srmcr 

TOKYO — It was no surprise when the 
stock of the Sony Corp. plummeted after the 
company suddenly announced on Nov. 17 
that it would suffer a stunning $3.2 billion 
loss because of problems at its Hollywood 
studios. What is surprising is how rapidly the 
stock has recovered. 

Sony stock, which closed at 3.79U yen (558) 
on the Tokyo Stock Exchange the day before 
the announcement of the loss, fell to 5,480 
yen the following day, and more steeply to 
5,000 yen on Nov. 24, a total loss of more than 
IS percent. But since then, Sony shares have 
climbed, closing Wednesday at 5,360 yen. 

Sony’s American depository receipts, trad- 
ed on the New York Stock Exchange, moved 
in tandem, falling from 558 JO the day before 
the announcement to as low as 550.375 on 
Nov. 23, before recovering to 553.375 by 
midafterooon Wednesday. 

In part, Sony’s recovery reflects currency 
fluctuations as the dollar strengthened 


Confidence Remains Strong 

Sony sham and ADR p oces in Toky o and NY 
65 LjJ.Ulllku» 6600 

- » a r — 

-6200 

5800 

5400 

/. -'^-5000 



45 S left scale: 

. 7*.* Vf— ■— I—"' ■■ ■.'• AS; ... - ' n . 

40 \ rsntiii j *. 4600 

OJFMAMJJ ASOMO 


Source; Bloomberg 


IHT 


shareholders that they are no longer hiding 
the problem." 


But other analysts axe wary, saying it is 
illogical to expect the stock to recover so 
quickly. 

“If the price is coining back to 5,790 that 
means nothing happened to the company,” 
said Taketosht Yamamoto, an analyst with 


against thc^yen early this month, rising to 


Morgan Stanley & Co. in Tokyo. “I don’t 
think so.” 


an iuu yen 
months. Dependent on exports and on sales 
outside Japan, Sony’s sales and gamings foil 
when the dollar weakens and rise sharply as i t 
strengthens. 

But the stock’s rise also reflects a sentiment 
among some analysts and investors that 
Sony’s huge Hollywood write-off represents 
the stan of a long-term improvement in Sony 
Pictures Entertainment Inc. 


Mr. Gan removed his buy recommendation 
from Sony stock the day of the big announce- 
ment but restored it a few days later. 

Other skeptics say the writeoff has not 
changed anything. Sony Pictures still has an 


abysmal movie lineup, and many analysis say 
ieat chx 


’Sony is now sending a message to the 
that they are cleaning their dirty laun- 


worid 

dry,” said Eric Gan, an analyst with' Gold- 
man, Sachs •& Co. in Tokyo. “They are telling 


more management changes are in store. 

But Sony’s main business, consumer elec- 
tronics hardware, has been recovering as Japan 
pulls out of its recession, Mr. Gan said. With- 
out the write-off for the movie business. Sony’s 
consolidated sales would have been up 5 per- 
cent and its operating profits up 35 percent in 
the six months ended in September, he added. 


Asian Firms 
Supporting 
Intel’s Chip 


Bloomberg Business News 

TOKYO — Top computer 
makers in Aria said Wednesday 
that fault in Intel Corp.’s Pen- 
tium processor would not stop 
them from using the microchip 
in their maehtngg 

Fujitsu LtcL Japan's largest 
computer maker; NEC Corp., 
the country's top personal com- 
puter manufacturer; Acer Inc., 
the top Taiwan manufacturer; 
and Singapore’s biggest maker, 
I PC Corp., said they had no 
plans to halt shipments of prod- 
ucts that run on Pentium chips. 

The Pentium contains a fault 
that leads to errors when com- 
puters perform certain complex 
mathematical functions. Intel, 
the world’s largest supplier of 
chips, said it had fixed the prob- 
lem and offered free replace- 
ments of defective Pentiums. 

International Business Ma- 
chines Corp., the world’s big- 
gest computer maker and In- 
tel's biggest Pentium customer, 
is the only computer maker so 
far to have halted shipments 
because of the flaw. 

Fujitsu said it would offer 
free replacements to users of 
the Pentium-equipped comput- 
er models it sells. 

NEC. which has a 52 percent 
share of the S6.8 billion Japa- 


Investor’s Asia 


Hong Kong 

Hang Seng 

HOOD 


Singapore: Tokyo 

Straits Times . - Nlkfcel225 


9000 

HU 

7000 






2100 


Y : a00 ®. 
4- 19000 



J A S O.N O 

1994 


2000 


J A 
1994 


TOWS ^TAS'bNO 
• -1394’' 


Exchange 


Index 


Hong Kong Hang Seng 


Wednesday Frav. - % " 

Close . : Close ^ Change 

7,997.35 ' 7.649.75 ' *1.80 


Singapore 

Straits Times . . 

2.114JM 

2,088.14 


Sydney 

ASOnfinaries 

1^6180 

1,852.70 

+0.60 

Tokyo 

NJkk«225 

18,99149 

m875,4a 

| Kueta Lumpur Composite 

937.15 

90041 

+4.08 

Bangkok 

SET 

1J2BU77 

1,305 J5B 

-UBS' 

Seoul 

Composite Stock 

1JJ2&61 


-HB.07 

Taipei 

Weighted Price 

<681^90 

6,69757 

-023 

Banna 

PSE 

2^17^0 

2,820^9 

-ala,; 

Jakarta 

Stock Index 

453J37 

447D4 

+1:42' 

New Zealand 

HZ5E-40 /. ■ - 

1^538 

1,902.32 

—035* 

Bombay 

ItatiooN-todtof 

1^31 

1,818.68 

4068" 

Sources; Reuters, AFP 


Tmtiranotial Heraid Tribune 

Very briefly: 


• The Hyundai group of companies has begun construction erf a 
large industrial complex at Yulchon on South Korea's southwest- 
ern coast The conglomerate will invest a total of 55 billion dollars 
over the next right years on its second such complex. 


nese personal-computer mar- 
ket will begin repiarii 


EXPORT: Malaysia Plans Push Living in China: No Bowl of Litchis 


Goof&ued from Page 9 

and 30 percent owned by Auio- 
of the Philippines. 


corp 


The assembly plant, expected 
milli on pesos (533 


to cost 800 milli on pesos (533 
million), will be located in Pan- 
gasman, Mr. Ramos’ home 
province, 200 kilometers (124 
miles) north of Manila. Produc- 
tion is expected to start at a rate 
of about 4,000 cars a year. 


Vietnamese company to assem- 
ble commercial vehicles. Mr. 
Norzahid said that the Malay- 
sian company hoped that this 
would lead to local assembly of 
Protons. 


Mr. Ramos said that Proton 
Pilipinas had promised to ex- 
port 10 percent of the cars it 
assembles in its first year of 
operation to new markets in 
Latin America, Papua New 
Guinea and Indochina. He said 
that the export share would rise 
to 50 percent in the fifth year. 

to Pernsahaan Otomobil has 
formed a joint venture in Viet- 
nam with Mitsubishi and a 


In May, the company signed 
an agreement with an Indone- 
sian company controlled by Siti 
Hardiyanti Rukmana, the el- 
dest daughter of President Su- 
harto, for the initial export of 
2,500 Protons to Indonesia. 
Malaysian officials said that the 
aim was to assemble the car in 
Indonesia within five years. 

Like many other internation- 
al carmakers, Pernsahaan Oto- 
mobil also is looking at China, 
the world’s biggest untapped 
auto market Beijing’s ban on 
new foreign entrants into its 
motor vehicle industry expires 
at the end of 1995. 


Bloomberg Business News 

HONG KONG — Expatri- 
ate life in China is expensive 
and rigorous, foreigners work- 
ing there say. 

A survey of 84 multinational 
companies in China by the ac- 
counting firm Price Waterhouse 
& Co. found that the cost of 
employing expatriates should 
remain high for the foreseeable 
future because of its image as a 
hardship posting. 

“There is still a gulf of misun- 


aboui what life is 
really like for expatriates living 
in China,” said Mary Wicks, di- 
rector of the Price Waterhouse 
Human Resources Consultancy. 


Housing, schooling for chil- 
dren and medical services are 
revealed as both the major ex- 
penses and the primary causes 
of complaints. 

On average, a general manag- 
er of a U.S. or Canadian joint 
venture or wholly owned sub- 


sidiary receives a total compen- 
sation package 3.5 times the ex- 
ecutive's annual base salary, the 
survey found. 

They also agreed that the key 
qualities needed by an expatri- 
ate posted to China were flexi- 
bility and cultural sensitivity. 


lacing Pen- 
tiums free of charge from 
January if requested by users. 
The company has sola about 
50,000 Pentium PCs so far. 

In Singapore. IPC said it had 
not encountered any flaws of 
the kind that prompted IBM to 
halt shipments of its computers. 

Taiwan’s Acer said few of its 
customers had reported prob- 
lems with Pentium machin es. 

“We only know of three,” a 
spokesman said. All three were 
local customers in Taiwan. 


• Snaky ong Industries Ltd. plans to invest 59.1 billion in China 
over the next 10 years in a project including the construction of an 
oQ refinery and petrochemicals facilities. 

• Soamprogetti SpA, an Italian fertilizer company, signed a 5100 
milli on deal with The China National Technical Import and Export 
Corp. to build a fertilizer plant in Jiangsu province. 


• The Darjeeling Planters Association said Indian tea producers 
would create a Darjeeling label to head off makers of inferior 
quality brands who have pirated the name. 


• Ptdhread Tire & Robber Co. shares rose by more than 30 percent 
company said it would be 


after the 
l^re Co. of 


bought Shun 
d in a deal that values Phil tread at 1.7 billion 


pesos (571 million). 


• Leri Strauss & Co. has opened a wholly owned subsidiary in 

clothing for the TnHi»n 


India to manufacture jeans and other clothing for 
market; the company will be called Levi Strauss (India) Pvt. 

AFX, AP, Bloomberg, Reuters 


BANQUE NATIONALE DE PARIS 


SodM Anonyme whh a copitd of F 4,642,353,975 
Head Office; 16, boulevard cfes Itafiens - 75009 PARIS 
R.C.S.: PAMS B 662 042 449 


USD 10,000 BONDS AT VARIABLE INTEREST RATE 1984-1995 


FINAL REDEMPTION 


The holders of USD 1 0,000 bonds at variable inWrnte 1 984-1995 
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MU EC 4P 4HS. 


TENDER NOTICE 


ARGENTINE PUBLIC SECTOR REFORM 
TECHNICAL ASSISTANCE PROGRAM 


CALL FOR PRE-CLASSIFICATION OF FIRMS 

ACQUISITION OF EQUIPMENT AND CONTRACT 
FOR SERVICES FOR A SECONDARY 
COMMUNICATIONS NETWORK IN THE CUSTOMS 
NATIONAL ADMINISTRATION 


The Argentine Government, through the Public Sector Reform Technical Assistance 
“ futrl me requirements herelnattar mentioned to subml 


iiwttes Bib hrms that 

„ and to manifest flwir Mention to partfdpalB h the bid for the hstaJIatlon of a 

Secondary Commwtaattons Network in the Custom National AdmHstallan, which Ml 
taka piece by the end at toe currant year. 

The bid will bB carried out through the United Nations Development Program 
(UNWTOPS), New York, NY, Project ARGSVR02 wWiln the fronting scope granted by 
the BiRF (Reconstruction and Development International Bank], throujfr loan 3362 AR. 


Purpose of the bid: 
• Supply »id InstaUatton of 43 


43 sateWe ground stations tor a network 
distributed Ihrcxujxxd the courtiy witii VSAT technology 
.• AdmWsrabon of tne network 


• Maintenance services. 


Requirements of the offerers: 

■ The auppiar of the toemotogy shal have official representation to the courtly. 


■ Prior experience in the Negation of networks of VSA 
■The performance of toe Bervicoe to be rated tar bid shaB require that the 
hub stafion hstaBed In Argentina. 


have a 


The interested fkms 
period often working days as 


• Prior pettormanco of tha works of starter importance, 
which comply wflhthe requirements abore mental 


the date of this puMration in order to submi their 
background to. 

Sr. Josft PttWro - Coordinator Genera! 

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INTERNATIONAL 


HERALD tribune, THURSDAY, DECEMBER 15, 1994 


Page 14 


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INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 15, 1994 



SPONSORED SECTION 




THE NEW STATES 


Industry Fuels 
Europe’s Fastest- 
Growing Economy 

Germany’s new states ate scoring major gain 

T ■ arm 

nrw h s ^ , ,f“^ 0m ? sn ' c -P rai '« : ‘ growth in the Sfc 
news tales is expected to be 9 percent to 9.5 nerrpm a *8 

points better than anywhere else 

S^^ , te 5 d i?" head wilh Singapore and China 
for die world lead. The GDP figure is being outpaced *££ 

d o&^ ndUStriaJ production “ UP 10. 1 p2Sm ^ 

SnoLn /’ P rev ious months showing increases ZM 
ranging up to 25 'percent. A key eariy indicator - total 
ontere rwei Ve d by the new states’ manufacturers - is fft 
P® rcci11 ’ according to the latest report. fa - 

These figures are finally making a serious dent in HP 1 
fee area s chronic unemployment problem. The new HI 
states rate now stands at 13 percent, down 15.4 per- RH 
cent from last year, with further and substantial drops r;r 
forecast for the months to come. 

For economists and marketing managers at large 
multinational corporations, other equally impressive IfiSwi 
indicators are of greater importance. The region’s pro- 
ductivity is approaching Western Germany’s levels, which 
are among the world’s best. This improvement in produce v- 
ity results from the world-best amounts of capital investment 
going to each manufacturing workplace; in 1994, the figure 
was 61 percent above the West German level. The improve- 
ment has also ensued from a new and more realistic weight- 
ing of the industrial sectors accounting for the productivity 

In comparably equipped factories, “there is virtually no 
difference in productivity or unit labor costs between East- 
ern and Western Germany,” reports Cologne's authoritative 
IWD (Informationsdienst des Instituts der Dentschen 
Wirtschaft) business-reporting service. 

Large consumer market 

This growth in productivity has gone hand-in-hand with a 
rise in disposable income per capita, now at more than two- 
thirds of Western Germany’s decidedly non-Third World 
levels. The average personal-wealth figure has also reached 
a new high, making die new stales a large and powerful mar- 
ket for consumer goods. 

While these figures are encou ragin g, they are sub- 
ject to certain criticisms and qualifications. The prime 

(me is that die transformation of Germany’s new states 
is still being funded through major transfers of capital 
from the western states. Over the past five years. West- 
ern Germany’s public sector has dispatched 500 bil- < 
lion Deutsche marks ($3 18.6 billion) to the new states, k 
r> In 1994, the net transfer (after deducting tax receipts 
and other sources of revenue) amounted to 1 1 0 billion li p : 
Deutsche marks. 

It should be taken into consideration, however, dial jsBfr 
the vast bulk of these funds has been going to “extraor-. Bpy 
dinary allocations” to pay for the revamping of the re- 
gion’s seriously neglected capital stock - its buildings, 
factories, environment, power plants, roads, telephone Hrp 
lines, bridges, hospitals and the like. Kg 

This capital investment amounted to 177 billion 
Deutsche marks in 1994, setting a new record for the |gjg| 
fifth successive year and twinging the cumulative total ■s§| 
to 580 billion Deutsche marks. Accounting for a large HR? 
portion of this investment has been the private sector- ( 
both Germany’s and the rest of the world’s. Total private- 
sector investment has been 427.2 billion Deutsche marks. 

This figure becomes even more 
impressive When one takes into ac- 
count the world recession and the 
uncertainty associated with enter- 
ing into a new market. 

The “poor relatives among Ger- 
many’s states” argument was re- 
cently laid to rest by a study from 
Halle's authoritative Institut fflr 
Wirtschaftsforschung economic 
research institute. In 1995, the 
study concludes, the new states’ 
output of goods and services will 
equal the amount consumed. 

Gunter Rexrodt, federal Another criticism is that die in- 
minister of economics, vestment capital flowing into the 
new states over the past five years 
has not been optimally allocated and that some of it went to- 
ward luxury apartment complexes and shopping mall s. 

There is some truth to this, but it is by no means ||ggj| 
applicable only to the new states. As m the Unned |-g 
Stores, Britain and elsewhere, the new states tow » , 

have a free market economy, in which the market 

proposes and disposes. . . , 

“Market forces tend to err and exaggerate m the ggjIKj 
short run,’' says Gunter Rexrodt, Germany s feder- KjKgg 
al minister of economic affairs. “In the Jong run, ||S||gg 
they do a very good job.” To date, both the real-es- pg 
tate and retailing markets have held up very wed, j?Ejg 
avoiding the largo-scale collapses common to other flffipg 
parts of Western Europe. Igpi^ 


The gross domestic product of Germany’s new states is set to grow 
by 9 percent to 9.5 percent this year, making the regional economy 
one of the most dynamic in the world. In addition, industrial 
production, foreign investment and tourism are posting 

substantial gains. 


Berlin 

Area: 889 square kilometers (343 square miles). 

Population: 3,475,000. 

A checklist is required to keep track of the city’s large-scale 
real -estate -development projects, which include the Pots- 
damer Platz and Friedrichstadipassagen. Also adding up are 
the number of companies that are moving their headquarters 
to Berlin; their ranks now include IBM Deutschland, Siemens, 
public development bank Kreditansiak filr Wiederaufbau and 
Italian pharmaceutical giant Menarini. 

Plans for the two “big events” - the partial relocating of 
Germany’s federal government to Berlin, and the merger of 
Berlin and Brandenburg into one state - have made demon- 
strable progress over the past 1 2 months. Fueled by increases 
in the output of electronics, industrial systems and chemicals, 
the manufacturing sector has been expanding. Also expanding 
is the number of advanced companies located in such large- 
scale technology-development centers as Adlershof. 




Brandenburg 

Area: 29,477 square kilometers. 

Population: 2,537.000. 

Capital: Potsdam (pop. 139,000). 

Brandenburg’s eastern third has become one of Europe's major 
manufacturing centers for paper made from recycled products, phar- 
maceuticals, special-purpose machines, microprocessors and chem- 
icals. The Greater Berlin ring is a chain of flourishing technology 
and business centers, large-scale and strikingly modern residential 
complexes and lovingly restored villages. U is also home to newly 
commissioned industrial facilities. 

Cottbus and Brandenburg are centers of construction and engi- 
neering services; Brandenburg. Eisenhuttenstadt, Doberlug-Kirch- 
hain and Lauchhammer are hubs for the production of building sup- 
plies and machines. Oranienburg, Cottbus, Stahnsdorf, Neuruppin 
and Treuenbrietzen feature major agglomerations of electrical and 
communication-engineering companies. After suffering a two-year 
slump, investment in the state has picked up strongly in 1994. Pots- 
dam, Brandenburg, Rhein sberg and the state’s other historic com- 
munities have been resplendently restored, triggering a boom in 
tourism. 




Mecklenburg- Western Pomerania 

Area: 23,421 square kilometers. 

Population: 1.843.000. 

Capital: Schwerin (pop. 124,000). 

In the midst of major capital improvement programs, Ros~ 
tock-Wamemunde, Wismar and Stralsund (the state’s major 
ports) are profiting from the increasing volume of intra-Baltic 
trade and from the industrial recovery of the new states. 

Now privatized, the state’s three main shipyards are receiv- 
ing well over 5 billion Deutsche marks ($3.19 million) in in- 
vestment from their new owners and the public sector, the ship- 
yards are also registering a substantia] growth in tonnage built 
In 1994, the state made major progress in combating its chronic 
problems of unemployment and industrial imbalance, as well 
as toward becoming one of Europe’s leading tourist regions. In 
the tourism sector, some 14 mega-projects are now under con- 
struction. 

The state's medical technologies, image- and food-process- 
ing sectors continued to score major gains. 


Saxony 

Area: 18,408,000 square kilometers. 

Population: 4.607,000. 

Capital: Dresden (482,000). 

Saxony now consists of a web of thriving industrial areas 
interspersed with large-scale commercial centers, with pock- 
ets of underdevelopment still persisting. The Plauen-Zwick- 
au-Chemnitz manufacturing belt produces everything from 
automobiles to advanced industrial and printing systems. 
Chemnitz is home to one of the new states’ four-largest ag- 
glomerations of technical service companies. 

A major building boom has transformed whole sections of 
Leipzig. The city’s specialties include printing, engineering, 
construction, trading and financial services. The fastest-grow- 
ing manufacturing sector is environmental technologies. 
Dresden’s manufacturing base now features microelectron- 
ics, pharmaceuticals and industrial systems. 

Dresden, Meissen, Gdrlitz, Bautzen are major producers of 
traditional consumer goods, and their wonderful cityscapes 
explain why Saxony is Germany's fifth leading tourist area. 






The New North 
Prospers in an 
Enlarged Europe 

The northern stales link up with European neighbors. 

liostock, Wismar and Stralsund fervently celebrated the 
outcomes of the recent votes in Finland and Sweden. In the 
midst of their rejoicing, the business communities in Meck- 
lenburg- Western Pomerania's coastal towns also found time 
to peruse business journals published in Riga, Gydnia and 
St. Petersburg. Their favorite reading concerted the growing 
turnover of those cities’ ports. 

With each step the Baltic takes toward becoming an eco- 
nomic reality, instead of merely a geographic term, northern 
Mecklenburg- Wes tem Pomerania’s future vocation comes 
into clearer focus. Steps taken in the past four years have al- 
ready shown impressive results. In a major rebound in 1993, 
the Port of Rostock, the largest in the new states, registered a 
15 percent growth in transloaded throughput, with a similar 
jump expected for 1994. Much of that increase is due to the 
new ferry and freight links instituted between the port. locat- 
ed in Rostock's northern suburb of Wamemfinde, and Swe- 
den, Finland, Russia, Poland and the Baltic countries 

I over the past year. 

A story of new finks 

To accommodate the new passenger- and container- 
bearing craft, the Port of Rostock has launched a ma- 
jor program of capital improvement. This includes the 
building of new ferry docks and transloading facilities 
for truck-borne containers and the deepening of the 
port’ s waterway to the Baltic; the latter alone will cost 
700 million Deutsche marks ($446 million). At the 
Port of Wismar, some 60 kilometers (37 miles) to the 
west, the same story of new connections and capaci- 
ties is unfolding. 

In a nice twist, many of the increasing number of 
ferries and freighters plying the waters of the Baltic 
were built in Mecklenburg-Western Pomerania. Ac- 
cording to the latest reports, the Kvaemer Wamow 
Werft GmbH is constructing eight such craft Owned 
by Norway's Kvaemer Group, the shipyard is one of 
the state’s five major yards, all now privatized. The 
new owners are investing a total of 3.5 billion Deutsche 
marks in upgrading existing facilities and building new 
ones; the public sector is providing a comparable amount for 
infrastructure improvement, social compensation plans and 
debt riddance. 

This large-scale investment is expected to yield a large- 
scale payoff. Spurred by the commissioning of Kvaemer 
Wamow’ s ultramodern shipyard (scheduled for die end of 
1995), the state is set to experience a 159 percent growth in 
annual tonnage built over the next two years, according to 
Berodt Seite, Mecklenburg-Western Pomerania’s prime 
minister. He predicts that the state will soon account for one- 
third of Germany’s total shipbuilding output 
The surge in shipping has also boosted the state’s smaller 
shipyards, whose ranks include Recblin, a major producer of 
lifeboats in Neustrelitz. The region’s newly affluent shippers 
and shipowners patronize the yacht and sailboat builders 
clustered in and around Wamemtinde. These pleasure craft 
are docked at the spanking new harborside developments 
dotting Mecklenburg- Western Pomerania's 350 kilometers 
of North Sea coast and inlets. 

i Exports are climbing 

The cumulative effect of all these new links, political 
and economic ties and newly redeveloped infrastruc- 
ture is that exports now account for 22 percent of 
Mecklenburg- Western Pomerania’s total gross domes- 
tic product, with more than half of exports going to 
Western industrial countries. 

While the Mecklenburgians and the Pomeranians 
brush up on their Swedish and Furnish or Estonian and 
Latvian, their counterparts in Brandenburg and Saxony 
are busy following the communiques from European 
Union summits and the Commission’s deliberations in 
Brussels. They want to know how quickly Poland, the 
Czech Republic, Slovakia and Hungary are proceeding 
toward full membership in the EU, an endeavor that 
Germany has been trying to expedite. The existing, ex- 
tensive association agreements between the EU and 

mm Continued, on page 77 


Ipll 


iHK 


response .o the Kg 

cism: The new states have yet to e^hsh 9H|| 

ability to compete on international markets- There ||h||g 
are however signs of hope. Exports are set to 
record a 16.5 percent increase in 1994 andastrong By 1 
with industrial goods cur- 

"ft ft SStol criticism,” says Mr. RrarcdL 
u is a near _total collapse of 

T? eZ and then whb fenced 
The final quibble economic fic- 


Saxony-Anhait 

Area: 20,443,000 square kilometers. 

Population: 2,778,000. 

Capital: Magdeburg (pop. 273,000). 

Feu- Saxony-Anhalt, 1994 was the year of blockbuster 
foreign investments. Dow Chemical has allocated 2.9 bil- 
lion DM to modernizing its major chemical facilities. An 
Elf Aquitaine-led consortium's 4.5-biIlion-DM construc- 
tion and privatization deal was finalized. 

The state is cleaning up residual contaminants and re- 
structuring its business base. Environmental services, 
freight-forwarding and light manufacturing companies 
are malting the Halle-Leipzig region one of Europe's 
fastest growing business areas. Halle and Dessau are cen- 
ters of industrial design. In the Bitterfeld-Wolfen area, 2 
billion DM in investment has created a new business 
base. Magdeburg's inland harbor recorded a turnaround 
in throughput. The brightest newcomer on the scene is the 
communication and computing services industry in 
Magdeburg, Quedlinburg and other communities. 


Enjoy the Present, 
Pursue the Past 

A guide to historical sites in Germany !s new states. 


T* here is little to distin- Gotha has become a generic 
guish the Wreecher Hof term for tomes detailing 
from any of the other settle- royal and aristocratic Mo- 
ments dotting Mecklenburg- cage. These works started 
Western Pomerania’s island issuing from the duchy of 
of ROgen. Wreecher’s seven Saxony-Gotha (later Sax- 
cottages feature the deep- ony-Coburg-Gotha) in 
hanging thatched roofs 1765. Perhaps the most gra- 
found throughout the re- cious of the duchy's many 


The final encouraging economic fig- 

Confronted wtiith -s^hat?' In other words, nothing 
{MTbfex^ ofGennany. one of the world's most 

nereonafly experienced the last five 

years of rcxxmstnKUon “ RooodL “These years 

very distressing re *S®^ ieir Sareof disappointments. This 
have brought more u ^ r * th° Snts of the new 
cril ic , srnisesp^i3J^ti^ ^ 0 f a] ^ courage 

cupations, new training proff® 1 ™* Rexrodt says, “this atti- 
Finally and jScess of re- 

tude rests on a ^rnpIe^^P 1 ^ ^ ofour wo ric still 
constructionis bynon^ on our strong initial 

SKS& 'Cisas— *-*- 


Thuringia 

Area: 16,175,000 square kilometers, 
population: 2^33,000. 

Capital: Erfurt (203,134). 

Thuringia’s economy is increasingly characterized by a 
network of small and medium-sized businesses, dotted by 
clusters of large-scale manufacturing and technology-de- 
velopment sites. Among the latter is the greater Eisenach- 
Walters hausen- Gotha area, now mushrooming into a 
broad-based center of automotive manufacturing and sup- 
ply, and the Jena-Weimar-Erfurt belt of surface treatment, 
aerospace, pharmaceuticals, microelectronics, optics and 
technical services companies. The production of electron- 
ic devices, computers and communication systems is 
scattered throughout the state. High-quality and high-do 
mand consumer goods are a specialty of the state’s small- 
er communities, whose names - Geraberg, flroenau, Arn- 
stadt, Luisenthal, Triptis - are found on products exported 
worldwide. Marketing successes have helped many com- 
panies in all these sectors survive the arduous process of 
restructuring. 


gion; the cottages are scat- 
tered in groves of chestnut 
trees and ponds - two of the 
island's natural leit- 
gjgESjl motifs. 

SsJ&jg This “romance of 
the Baltic” is precise- 
IjppM ly what visitors com- 
ing to Riigen expect 

I to experience, along 
with its marvelous 
Rossini Opera Festi- 
val and the sight of its 
chalk cliffs. Wreech- 
pg|l| er Hof is careful not 
to disappoint them. 
Inside the cottages, 

■ luxury prevails, 
along with all the 
standard electronic 
amenities. 

Over the past two 
centuries, the western 
Thuringian town of 


royal seats is the 
Schlosshotel Reinhards- 
bninn, located 14 kilometers 
(about 9 miles) to the south- 
west of the city of Gotha. 
Not surprisingly, the palace 
was built in the “English 
style ” The duchy had, after 
all, close connections to 
Great Britain. One of its lo- 
cal boys - Prince Albert - 
made good in London, mar- 
rying his way to the top of 
an empire 

Time off from turbulence 
The past 100 years in Ger- 
many have been turbulent, 
to put it mildly. Quite a few 
of the people and groups re- 
sponsible for this turbulence 
relaxed in what is now the 
Hotel Diana. The hotel is lo- 
cated on the German part of 


WRSCHBERS/DPA 


Continued on page 18 





Page 16 


BNTERNATIONAL WKllALX) TRIBUNE, THURSDAY, DECEMBER 15, 1994 


$ I>q vS O RL <? SECJtON 


ANY: 


THE 


NEW 


S T 


Conversion: 
Short and Simple 
Or Very Unusual 

A survey of the conversion of former military sites. 


T he 4,541 sites in Ger- 
many's new states have only 
one thing in common. Until 
recently, they were the prop- 
erty of the Soviet Army’s 
Western Group or of bast 
Germany's National Volk- 
sarmee (NVA). Everything 
else about the sites, which 
cover a total of 5,600 square 
kilometers (2,200 square 
miles), shows a great diver- 
sity of characteristics and 
methods applied. 

For many sites, the con- 
version process was a rela- 
tively short and simple mat- 
ter of subtraction - the re- 
moval of the odd military 
equipment and waste left be- 
hind by the departing troops. 
The net product has been 
such new nature preserves as 
the Doberitzer Heide, whose 
6,000 hectares (14.800 
acres) of woodlands, once a 
staging ground for Soviet 
army maneuvers, recently 
became one of Greater 
Berlin's major parks. 

For several other sites, the 
process is proving to be a 
complex, protracted exercise 
in both addition and multi- 
plication. One example is 
Wiinsdorf, located south of 
Berlin. It was the last major 
site to be vacated by the 



Berlin’s conversion will pay its 
own way. 

Russians, who left on Aug. 
31. It is also reportedly the 
largest conversion site in the 
new states, in terms of struc- 
tures and infrastructure pre- 
sent on it. Wiinsdorf s 6,600 
hectares contain 1,000 
buildings, clustered in five 
separate settlements, with 
enough space for 2.000 fam- 
ilies and a work force of 
5,000. 

Poles of development 
Currently being added to 
Wiinsdorf are state-of-the- 
art telecommunication sys- 
tems, transport infrastruc- 
ture and startup capital. Ac- 
cording to the state of Bran- 
denburg, which is coordinat- 
ing the work of a public- and 
private-sector task force, 
this investment will go to 
create “poles of develop- 
ment” in Wiinsdorf, around 
which further investment 
will propagate. The time 
frame of this project is de- 
nominated in decades, the 
cost in billions. 

Many of the region’s con- 
version projects have al- 
ready been completed, 
largely unnoticed by either 
the outside world or even by 
the users of the newly con- 
verted sites. There is a rea- 
son for this oversight Some 
22 percent of all conversion 
sites in the new states are in 
or near such major and at- 
tractive cities as Potsdam 
and Dresden. These sites are 
often residential properties, 
ranging from entire residen- 
tial complexes to Jugendstil 
villas. Although these prop- 
erties often require aoove- 
average amounts of renova- 
tion work, the prices 
charged for them are gener- 
ally much below market 


dwellings to be quick sellers 
on local markets. 

Two sites in the new states 
have been drawing the con- 
centrated scrutiny of interna- 
tional conversion experts. 
One is a rural town; the oth- 
er is Central Europe's 
largest city. 

In the early 1990s, 
Bavaria's Buck brothers 
were facing a fate common 
to producers of defense in- 
dustry goods: orders for 
their products ( in the Bucks' 
case, fog grenades and in- 
frared targets) were drying 


East Is Breathing Easier, 

But It Hasn’t Come Cheap 

, for the environment. 

The 31 percent drop in electricity use was good news, at le J 

F . ■ riM have been allocated for 

ram 1991 to 1993, the ing technologies toexisong DM I h ^ I994and 

rrin«timnrinn nf electricity in power plants and the b * « iino * 


up. The Bucks’ answer was 
to go east - northeast, to be 
exact — to the Brandenbur- 
gian town of Pin now. The 
Bucks acquired a facility 
that had produced anti-tank 
rockets for the Warsaw Pact, 
and they converted it into a 
center for rocket-fuel and 
munitions recycling. The fi- 
nal product of these opera- 
tions - fertilizer - is now 
greening many of the fields 
around Pinnow. 

Had the Bucks left matters 
there, they would already be 
the “masters of conversion,” 
as a business journal in the 
new states recently de- 
scribed them. But the Bucks 
carried things one step fur- 
ther. They reinvested the 
proceeds from the recycling 
into further equipping their 
new facility. 

Today, the Bucks’ newest 
product - prefabricated 
housing — is facilitating an- 
other and much larger con- 
version process. Many of the 
Russian soldiers returning 
from Eastern Germany are 
now housed in Buck- built 
dwellings, which are them- 
selves recycled, converted 
products. The latest word 
from the Bucks is that they 
have entered into the envi- 
ronmental technologies 
business in a big way. 

Converting Berlin 
The other site attracting at- 
tention is Berlin, the nation's 
capital, which is set to expe- 
rience a unique conversion 
into the seat of Germany's 
federal government. The 
government’s relocation will 
take five years and involve a 
net transfer of 1 1 ,700 per- 
sons, requiring 376,000 
square meters of working 
space as well as housing, 
transport and telecommuni- 
cation infrastructure. 
Through the use of existing 
facilities and the promotion 
of job swaps between 
Berlin- and Bonn-based offi- 
cials, the cost of all this will 
be kept down to about 25 
billion Deutsche marks (S16 
billion), according to studies 
recently released by Prognos 
and Bankgesellschaft Berlin 
AG. 

One cost-cutting measure 
is the fact that much of the 
property required has been 
acquired free of charge by 
the federal government. Ac- 
cording to Jurgen Echter- 
nach, secretary of state at the 
country's federal ministry of 
finance, the federal govern- 
ment received 586 sites cov- 
ering some 1,500 hectares 
from the departing Allies 
and the discontinued NVA. 

The latest studies say that 
this special example of con- 
version may well pay for it- 
self. Official sources have 
pegged a multiplier of nine 
to the move, meaning that 
every mark spent on relocat- 
ing the capital will generate 
nine marks in local gross- 
domes tic-product growth. In 
the job-creations area, the 
figure is even higher. 

The multiplication has al- 
ready begun. Construction 
was recently started on the 
rebuilding of Potsdamer 
Platz. the new downtown 
Berlin corporate home of 
Sony, Daimler-Benz and 
Asea Brown Boveri. whose 
decisions to build in die city 
resulted from the relocating 
of the federal government. 
The construction of the 
site's office buildings, hotels 
and apartment complexes 
will be completed in 2002. 



mm 





•at — 




consumption of electricity in 
Germany’ s new states 
slumped dramatically. This 
decline was caused partially 
by a drop in industrial pro- 
duction, but mostly by a 
drastic improvement in the 
efficiency of power use, a 
category in which East Ger- 
many had regularly placed 
last among the world's na- 
tions. As the country used 
high-polluting lignite to fuel 
its power plants. East Ger- 
many was also a prime 
source of Europe’s excess 
levels of carbon dioxide, sul- 
fur and other pollutants. 


levels have dropped dramatically. the introduction of clean-nr- 


power plants and the build- 
ing of new advanced ones in 
the East. 

The region’s 42 percent 
decline in total carbon-diox- 
ide emissions has been 
achieved despite a vast in- 
crease in use of automobiles, 
airplanes and other sources. 
Other pollutants show simi- 
lar declines. The quantity of 
sulfur dioxide emitted from 
the region's power plants is 
down 30 percent, and dust 
by an amazing 85 percent. 

$6 billion in facilities 
This improvement has not 
come cheaply, reports the 
association of German - elec- 
tricity generators, VDEW 
(Vereinigung Deutscher 
Elektrizitatswerke). The re- 
gion's 95 power-generation 
companies invested 9.4 bil- 
lion Deutsche marks ($6 bil- 
lion) in their facilities over 
the past three years, half of it 
in 1993 alone. That substan- 
tial figure pales in compari- 
son with what is currently 
being spent: Some 30 billion 


the source of 1994-s 
modest increase in electrici- 
ty consumption is the re- 
gion’s nearly double-digit 
growth in economic output. 
More power use does not 
necessarily mean sharply 
higher power bills for the 
new states’ manufacturers 
and distributors. 

The new power plants 
operating efficiency is re- 
sponsible for the relatively 
cheap electricity they gener- 
ate. ... 

On the average, prices per 
watt are lower than those of 
Western Germany, which 
have been showing a relati ve 
decline over the past few 
years. 

For local authorities, the 
most gratifying aspect of the 
new plants is the nature. of 
one of their main fuels: lo- 
cally mined lignite, now 
“clean-fired’" ■ ‘ and 

“scrubbed” into an environ- 
mentally, friendly energy 
source. 


Wanted Immediately: New Sources of Venture Capital 

Numerous new companies have scored initial market successes with their products, and they are voracious for new capital. 

he Hotzenblitz sounds 
like a perfect candidate for 
venture capital. It is an 
untested product - an elec- 
tricity-powered automobile 
- of great potential. It has 
successfully survived the 
planning stages and has ac- 
tually gone into production. 

According to the business 
monthly TopBusiness, some 
1 ,000 of the vehicles have 
been ordered. They are be- 
ing produced at a rate of two 
a day at Hotzenblitz* s facili- 
ty in Suhl, Thuringia. 

Founded in 1991, Hotzen- 
blitz Mobile GmbH & Co. 

KG has received two infu- 
sions of venture capital from 
two very different sources. 

The first, from a West Ger- 
man industrialist, got the 
project up and running. The 
second, from a public-sector 
bank and the state of 
Thuringia, allowed the com- 
pany to survive its market- 
ing and expansion phase. 

According to a study car- 
ried out by Halle’s Institut 
fur Wirtschaftsforschung. 
there are some 1 1 ,000 com- 
panies in Hotzenblitz’s situ- 
ation in Germany’s new 
states. 

Founded or privatized 

over the past four years, — 

these small-scale industrial & Co. KG or Technologie- 
companies have already ere- fond des Landes Mecklen- 
ated or secured 300,000 burg-Vorpommern. these 
jobs. newly founded equity-par- 

Like Hotzenblitz, these ticipation companies are of- 
companies now have newly ten called upon to rescue 
developed products achiev- companies facing temporary 
ing initial market successes, liquidity problems, or to 
They therefore also have a help rapidly expanding ones 
voracious need for further finance their participation in 
capital. large-scale production facil- 



Tbe task is easier 
In the past, finding capital 
was often a matter of labori- 
ous hunting and gathering. 
The task has become much 
easier over the past few 
years, thanks to the setting 
up of a wide variety of equi- 
ty-participation programs 
and venture-capital funds by 
public- and private-sector 
bodies. 

Many companies now 
have a new. rather quiet and 
highly solvenr partner their 
home state. 

Going by the unwieldy 
names Thuringer Indus- 
try ebete i 1 igungsgesel Ischaft 


& Co. KG or Technologie- 
fond des Landes Mecklen- 
burg-Vorpommern, these 
newly founded equity -par- 
ticipation companies are of- 
ten called upon to rescue 
companies facing temporary 
liquidity problems, or to 
help rapidly expanding ones 
finance their participation in 
large-scale production facil- 
ities or infrastructure sys- 
tems. 

All told, the public sector 
has directly provided 750 
million Deutsche marks 
($478 million) to firm up 
new companies in 1994. 

The marriage broker 
To meet the growing de- 
mand for venture and work- 
ing capital, Deutsche Aus- 
gleichsbank, the public-sec- 
tor development bank, re- 
cently doubled the amounts 
available for individual 
companies from its 
Eigenkapitalprogram (share 
capital provision program). 
The bank provided 8 billion 



Companies in the new states received 8 billion DU in venture capi- 
tal from the publk>sector Deutsche Ausgleichsbank last year. 


DM in venture capital alone 
to companies in the new 
states in 1993. Moreover, it 
has come up with a particu- 
larly ingenious instrumen- 
tality. 

The bank has started serv- 
ing as a “generous broker” 
between Western companies 
rich in capital and manage- 


ment know-how, and com- 
panies in the new states with 
promising products. To 
make this marriage attrac- 
tive, the bank bestows an 
extra dollop of working cap- 
ital (in the form of a re- 
duced-rate loan) upon the 
joint venture. ' 

For the bank, the provi- 


sion of venture capital in the 
new states has proven a very 
safe investment. For every 

1.000 companies founded 
with the bank’s money since 
1991, only eight are no 
longer in business'; this is 
one-third of the rate in high- 
ly solvent Western Ger- 
many. 

Not just surviving 
The vast majority of the 
companies are doing much 
more than simply surviving. 
The bank reports that “its” 
companies are set to record 
strong two-digit rises in 
turnover and staff size in 
1994. 

The largest source of capi- 
tal for small companies in 
the new states remains the 
mighty Kreditanstalt fur 
Wiederaufbau. 

Primarily through its Mit- 
terrand program, the bank 
provided 30 billion DM in 
reduced-rate, long-term re- 
payment loans to some 

50.000 companies in the 


new states during the period 
1990-1993. 

Often criticized for being 
remiss in this regard, Ger- 
many's “standard" banking 
sector recently launched a 
wide range of equity and 
venture funds of its own. As 
befitting its role as the capi- 
tal city’s house bank, 
Bankgesellschaft Berlin has 
been especially active in : 
both kinds of investment 
support. 

Its LBB Beteiligungsge- 
se! Ischaft mbH provides eq- 
uity capital, while this com- 
pany’s subsidiary. Seed 
Capital Fund GmbH Berlin,- 
is a classic joint-venture 
fund. 

Meanwhile, the European 
Union is furnishing some 
27.5 billion DM to the new 
states in 1994-1999, with 60 
percent of this going to the. 
creation and securing of jobs 
(through “regional funds”), 
and 40 percent to develop 
the new states' economic in- 
frastructure. 


Good-bye to the Treuhand, Good Luck to Its Successors 


On Dec. 31, 1994,. Berlins Treuhnndanstalt will officially close its doors. 

-A-fter four-and-a half-years of opera- In an apparent paradox, investors will 
tions, the Treuhandanstalt will shut down be working hand-m-hand with the Treu- 

.... ... .. . . .The 


new career as head of Hannover’s Expo 
2000 world fair. 

The Treuhandanstalt will leave behind 
an impressive legacy: more than 14,000 
companies privatized, some 1.5 million 
jobs secured, and well over 250 billion 
Deutsche marks ($159 billion) in invest- 
ment commitments and privatization pro- 
ceeds secured. The cost of all this, ac- 
cording to Ms. Breuel, was “somewhat 
less than 275 billion Deutsche marks.” 
Part of this amount also went to deconta- 
minate thousands of industrial sites in the 
new states, to equip companies with new 
capital stock and to rid them of their 
debts - all necessary preconditions for 
iheir privatization. 


Ai^uiioiiuauouuv iww vmviwu 

45,000 contracts with investors: nearly 
all these contracts include complicated 
and lengthy compliance and joint-partici- 
pation clauses. 

Extensive holdings 

These will be monitored by the BVS 
(Bundesanstalt fflr vereinigungsbedingte 
Sonderaufgaben), the federal agency For 
special assignments related to German- 
German unification. Although no longer 
the “largest farm and forest owner'’ in 
Europe, the Treuhand still has extensive 
holdings in this area. They will be taken 
over by the BWG (Bodenverwertungs- 
und verwaltungsgesellschaft), already in 
existence. 


At latest count, less than 100 companies 
were in the Treuhand’s stewardship, and 
is steadily dwindling. These 
iiiv,iuvjc am.il key industrial companies as 
Deutsche Waggonbau AG (the new 
state’s prime producer of rolling stock), 
as well as the companies grouped into 
“management holdings.” 

Nearly all of these companies are re- 
porting rising turnovers and profits. This 
means that their tenures in the ownership 
of Beteiligungs-Management-Gesell- 
schaft Berlin mbH. the newly founded 
public-sector company holding the Treu- 
hand's remaining corporate assets, will 
be relatively short. 

Looking to the TLG 
In the future, international investors will 
be dealing most often with the Liegen- 
schaftsgesellschaft der Treuhandanstalt 


mbH (TLG), the Treuhand’s real estate seeable future, reDorts nrimor 

a I i eady , sold P ro ( P erty its - rnana S' n S diwor.^howin^?^ 
worth 15 billion Deutsche marks for its mvaie-^rnr *u-rn ^ ™ 


r*" — *■•*■■* ***& 

41 billion Deutsche marks in the process, 
as of June 30, 1994. 

As the TLG has been selling some 65 
properties a day. seven days a week since 
then, these figures are somewhat out of 
date. The TLG, however, has plenty of 
properties left. On Jan. 1 , 1995, it will be- 
come the official owner of the Treu- 
hand’s stock of 65,000 properties. The 
federal government has entrusted it with 
the marketing of more than 8,000 former 
military sites, of which 162 have already 
been purchased by the private sector. 

Private-sector flair 

The TLG is even thinking of putting it- 
self up for privatization within the fore- 


nsiieu a spiasny catalogue featuring its 
showcase properties: 20 castles, palaces 
and mansions. According to the Sfld- 
deutsche Zeitung, the cheapest property 
for a very reasonable 5 L0O0 
Deutsche marks - about the price of a 
broom closet in Munich. 

A palace for sale 

The most expensive is Schloss Boitzen- 
starts at “several mil- 
n0t inciudin g considerable 
renovation costs. As the TLG points out, 

however, the buyer of this property will 

?00000 ^i°a hlS ° r her rr)one y ; almost 
? eters nUJflOOOO square 
“ °L land water - The palace also 

has an impressive” moat ■ 






i/j 


A* \£jo 


INTERNATIONAL 



The New Mobility: 
Cause or Effect? 

Abok a, ,he growth of travelers and transport links. 


TRIBUNE, THURSDAY, DECEMBER 15, 1994 


E W 


Pace 17 


T^he 50 billion Deutsche 
, mariw ($32 billion) spent on 
upgrading the new states’ 
transport infrastructure over 
the past four-and-a-half 
years has effected a major 
expansion in personal mo- 
bility in and access to the re- 
gion. 

According to a study re- 
cently released by Munich’s 
Institut fur Wirtschafts- 
forschung. passenger use of 
the railroads in Germany's 

U P 27 

in 1994. Air traffic fas mea- 
sured in passenger arrivals 
and departures) is now run- 
ning 44 percent hieher than 
it was two years ago. After 
showing three successive 
and sharp rises, automobile 
traffic has stabilized at his- 
torically high levels. 

In an entirely related de- 
velopment, outside arrivals 
in the new states are also ex- 
hibiting record increases. In 


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1993. the new states' travel 
industry f including holds, 
restaurants and lour opera- 
tors) recorded a 20 percent 
growth in turnover, reports 
Dchtjgu, the German travel 
i£ade-indu.sir\ association 
This malv.es the region fier- 
niany ‘s fastest-growing trav 
el area, with cans entiou- and 
congress-related business 
accounting for a significant 
portion of that growth. 

Signs of strength 
In a sign of funner strength, 
the number of oveinieht 
stays in the new states was 
up 25 percent this summer, 
this increase is pan i ally due 
to the 42 percem increase in 
the number of the region's 
hotels, motels and guest 
houses. 

Business travel 

Not to be outdone, the new 
stales' residents have been 


. •• ...-in- ' >.• . • - iS 


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1 







Leipztg-Halte Is currently the fastest-growing airport in Germany. 


flocking to make up lor lost 
lime and rhey are (raveling 
with in the region and be- 
yond it in large numbers. 
While the number of vaca- 
tion -rduted trips is down 
somewhat from the post-uni- 
licatiLiii era's artificially 
high levels, the amount of 
business travel is reportedly 
up sharply. 

M*«re and more people are 
moving about the new 


states, and they have been 
making full use of the wide 
range of new links between 
the new states and the out- 
side world. 

Five cities in the region, 
for instance, now form part 
of the Deutsche Bahn AG's 
super-express ICE grid. 
Such airports as Leipzig- 
Halle (currently Germany's 
fastest-growing airport), Er- 
furt and Dresden are served 


by new scheduled and char- 
ter lines. 

Did the increase in travel- 
ers cause the increase in 
links, or vice versa? 

‘The rail lines, highways, 
waterways and airports 
would have been built or up- 
graded in any case, as good 
transport infrastructure is an 
indispensable basis for sus- 
tained business develop- 
ment,” says Giinter Rexrodt, 


Germany's federal minister 
of economics. 

“It was also 10 be expected 
that the residents of the new 
states, denied access 10 
much of the world for so 
long, would take full and 
immediate advantage of 
their new freedom.” be adds. 
“However, the extent of 
their wish to travel has 
caught everybody a bit by 
surprise." 


SPONSORED SECTION 


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Personal-computer manufacturing has taken off in a big way, 
fueling a 150 percent increase in sales in the new states' 
computers and office-machine sector. 











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Staying on top: m 1995, Siemens' $1J8 billion facifity in Dresden wftt start manufatiuringlte 
latest chips. 

Creating the Technologies 
That Create the Chips 

Stote-of-the-an technologies are being produced in the new states. 


Environment: The Great 
Green Job-Making Machine 


In today’s fast-moving microelKtromcs 
world, having the latest chips or even the lat- 
est chip-manufacturing t^hnologies areOTt 

ZiSSKS » havirgjte "-advanced 

design systems, which produce b°th. 

ESSea^ 


total of 44 institutes and companies in the 
new states involved in the various pan-Euro- 
pean research-development projects. 

In turn, ZMD has been directly commis- 
sioned with microelectronics design and 
testing work for Siemens, Philips, Gnindig 
and other major European producers; this 
has produced so much work that the compa- 
ny recorded a 14-fold increase in turnover in 
1994. 

All of today’s advanced chips make use of 
silicon’s various semiconducting properties. 
A leading developer of these properties is 
the Institut fdr Halbleiterphysik, located in 
Ffttnkfurt/Oder, one of the 3,000 research in- 
stitutes and companies in the new states, ac- 
cording to a recent survey conducted by the 
Forschungsagentur Berlin GmbH, a research 
monitoring company. 


A look at the rapid growth of environmental services. 


IJome 160,000 persons in 
Germany's new states are 
providing the most impor- 
tant service of all. Strictly 
speaking, they are not serv- 
ing other people, but rather 
the environment 
It is widely known that the 
service sector has been the 
great job and growth creator 
in Germany’s new states. It 
is not generally known, 
however, that environmental 
technologies have been this 
sector's fastest-growing in- 
dividual area. Tins fact is de- 
rived, in turn, from another 
one: Aside from a well-de- 
veloped recycling system, 
there were basically no envi- 
ronmental services in the 
new states. 

The expansion in environ- 
mental services has one es- 
sential cause - the huge 
amount of money going into 
solving the vast problems af- 
flicting the new states’ envi- 
ronment. This expansion has 
one essential effect - the 
creation of a new kind of en- 
trepreneur. 

In 1994, according to a 
study conducted by Berlin's 
DIW (Deutsche Institut fur 
Wirtschaftsforschung), 
some 16 billion Deutsche 
marks ($10 billion) will be 
spent on cleaning up the 
new states' land, air and wa- 
ter, with other estimates 
ranging from 12 billion to 30 
billion DM. 

The money has gone to 
people like Professor Jupp 
Kreutzmann, Karl-Heinz 


Kluger 

Boost 


Wolfgang 


Anything but normal 

Jupp Kreutzmann ’s story is 
typical of his profession. In 
the post-unification era in 
Germany's new states, a 
professor and researcher sets 
up his own company and 
prospers. His area of spe- 
cialty - ecological chemistry 
- was anything but normal 
in the former German De- 
mocratic Republic. Mr. 
Kreutzmann was the coun- 
try’s only professor special- 
izing in this subject 

In the 1980s, Mr. Kreutz- 
mann and his team of assis- 
tants went out to Bitterfeld 
and Freiberg and. using self- 
made sensors and pollution- 
detecting equipment, began 
recording the shocking truth 
about the despoliation of the 
environment in those com- 
munities. In doing so, Mr. 
Kreutzmann had to over- 
come prolonged harassment 
and resistance from East 
Germany’s omnipotent state 
apparatus. 

In 1990 came the disman- 
tling of this apparatus and 
the advent of the free- market 
economy. Mr. Kreutzmann 
leaped at the opportunity to 
found his own company. 
Located in Mecklenburg- 
Western Pomerania, his 
Nordum Institut fur Umwelt 
und Analytik GmbH started 
off with a staff of five in 
1990. Today, the company 
employs 25 people. Its envi- 


ronmental auditing and 
management services are 
used by public- and private- 
sector clients. 



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■■v4 : ^ ; v ;• . 

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6,000 new jobs 
The area whose story Mr. 

Kreutzmann broke to the 
world is today the site of one 
of a promising economic 
and environmental redevel- 
opment project Thanks to 2 
billion DM in investment, 

some 6,000 jobs have been 

created in the Bitterfeld- OpeTs Eisenach plant a thriving sector. 

Wolfen area over the past 

jobs ^stemmed 'from "the INDUSTRY’ S YEAR 
founding of Techniscbe Di- A ° A -L^TYIX 

GmbH (TDAL one of^he OF COMING ON Li 

180 new companies in Bit- Un J-/JL 

terfeld’s manufacturing and . , . , , . . . 

technical services sector. Industrial pwducti vity is surging in the new sta 

According to Die __ 

Wirtschaft, the German |\ .. , . . . . , , 

business weekly, TDA has he llst o* brand-new or ties have helped pi 
been “the largest and most * orou S h| y renovated facto- 75 percent jump in 
successful MBO [manage- nes producing automobiles, tor’s output over 
ment buy out] in Germany’s special-purpose vehi- month period, 

new states." Led by chemi- cles and motorcycles in the 
cal industry veterans Karl- new s ^ a * es ,s ‘ on 8 ^ well- Problem kids shapi 
Heinz Kluger and Wolfgang known - The ,ist includes Even more strikir 
Boost, the company is vital- Waltershausen, arounds have been 1 

ly but indirectly active in en- Mercedes Benz in Ludwigs- by two of the new 
vironmental protection. felde - °P el and BMW in former “problem cl 

TDA maintains produc- Eisenach and VW in Mosel. After considerable i 
tion facilities and assures Their cumulative impact of public investment 
that they function according “** 1x1 expressed in statis- facilities, the produ 
to plan and without produc- ^ cs - The new states 50 1 rolling stock was up 
ing unforeseen emissions. ^ P°st - c®, 01 m the first half 1 


Of Coming on Line 

Industrial productivity is surging in the new states. 


Many of the production fa- 
cilities it builds are directly 
plugged into environmental 
treatment and storage sys- 
tems. 


Target: Global Outreach 
For Local Business Sectors 

Where opportunities beckon, international companies congregate. 


TFbe various federal agen- “An important pan of our 
cies, 64 state and local cor- work still lies ahead," says 
porations and agencies, 17 Helga Manneck, director of 
chambers of commerce and the Federal Ministry of Eco- 
industry, and six state min- nomics' Center for Foreign 
istries of economics in- Investor Information in 
volved in promoting the Berlin. Rmnded in 1991, the 
business development of the center has served as a prime 
new states once more turned interface between the 
in a stellar performance in world's business community 
1994. and the new states’ econo- 

They are now outfitted my. 
with CD-ROM discs, on- Tie next job for the center 
line laptops, investors' hot- and for the Federal Ministry 
lines, attractively packaged of Economics as a whole is 
local gastronomic delights to internationalize the new 
and a wealth of convincing states’ production and tech- 
statistics. nical services sector. 

Long-term private-sector 

investment from outside the Showcase for quality 
region totalled 54 billion Manfred Rupprich, senior 
Deutsche marks ($34 bil- investment counselor at the 
lion), up 10 percent over Center for Foreign Investor 
1993 and setting another Information, points out that 
record, according to Mu- “the new states’ companies 
nich’s Institut ftir have a wide range of innova- 
Wirtschaftsforschung (IFO). five products and services, 

and clearly defined needs for 
Good news fluorishes international marketing 
Most encouraging for the lo- arrangements. All that is re- 
cal development corpora- quired is dot foe companies 
tions was the growth of each get the proper showcasing 
of their individual economic on the international level.” 
areas. 

A strikingly high percent- Exhibitor support 
age of their newly founded To facilitate this business-to- 
companies have survived foe business contact, the Ftederal 


tricky founding phase. Fur- 
thermore, most of these 
companies are now flourish- 
ing. 

There have been no exer- 
cises in self-congratulation. 


Ministry of Economics has 
promoted a lively two-way 
traffic, with numerous inter- 
national companies attend- 
ing trade missions to the 
new states and local compa- 


nies participating in mis- 
sions abroad. 

Trade fairs are an impor- 
tant venue for this contact. 
All told, the Federal Min- 
istry of Economics has sup- 
ported foe participation by 
some 2,300 of the new 
states' companies in trade 
fairs and exhibitions abroad, 
700 of them in 1994 alone. 
Correspondingly, nearly all 
the trade fairs held in the 
new stales last year received 
direct and indirect exhibitor 
support from the public sec- 
tor. 

The expatriate crowd 

The growth of the interna- 
tional community is testa- 
ment to the increasing at- 
tractiveness of the regional 
economy. 

The international commu- 
nity in Germany’s new 
states includes some 
300,000 persons; an estimat- 
ed 3,000 companies, sub- 
sidiaries, representatives and 
offices; German-foreign 
(such as German- American) 
business clubs and chambers 
of commerce in Berlin and . 
Leipzig; five international 
secondary schools, of which 
four use English as the pri- 
mary language of instruc- 
tion; and an English-lan- 
guage magazine, which ap- 
pears in Berlin and is enti- 
tled, appropriately enough. 
International Community. 


1 he list of brand-new or 
thoroughly renovated facto- 
ries producing automobiles, 
trucks, special-purpose vehi- 
cles and motorcycles in the 
new stales is long and well- 
known. The list includes 
Muhicar in Waltershausen, 
Mercedes Benz in Ludwigs- 
felde. Opel and BMW in 
Eisenach and VW in Mosel. 

Their cumulative impact 
can be expressed in statis- 
tics. The new states' 501 
companies in this field post- 
ed a 46.7 percent increase in 
production in the first half of 
1994, as compared with the 
same period in 1993. 

The second statistic is 
even more important: The 
total value of orders re- 
ceived - the best predictor 
of future output - increased 
by 70 percent over the same 
period. 

Europe's largest recyder 
The paper-manufacturing 
sector boasts similar 
achievements. Haindl’s ul- 
tramodern and environmen- 
tally friendly 700-milIion- 
Deutsche-mark ($446 mil- 
lion) facility, the largest one 
processing recycled paper in 
Europe, recently launched 
operations in Schwedt. 
Brandenburg. It is by no 
means the only such facility 
in the city or in the new 
states. Among the 1 1 1 com- 
panies in this sector is 
Schwedt Papier & Karton 
GmbH, whose 190-million- 
Deuische-mark plant also 
processes recycled paper 
and is also located in 
Schwedt 

All told, these new facili- 


ties have helped produce a 
75 percent jump in the sec- 
tor’s output over a nine- 
month period. 

Problem kids shape op 
Even more striking turn- 
arounds have been achieved 
by two of the new states' 
former “problem children." 
After considerable amounts 
of public investment in new 
facilities, the production of 
rolling stock was up 30 per- 
cent in foe first half of 1 994, 
with an overwhelming in- 
crease of 100 percent in or- 
ders on hand. 

After being especially 
hard hit by competition 
from the west, foe region's 
manufacturers of fine me- 
chanical items and watches 
were re-equipped and re- 
capitalized, resulting in 
jumps of 22 percent in 
turnover and 47 percent in 
new orders received. 

Powered by PCs 
The biggest jump of all has 
come in the new states’ 
computers and office- ma- 
chine sector. 

Powered by explosive 
growth in pereorud -comput- 
er manufacturing, the sector 
recorded a jump of 150 per- 
cent in sales. 

All this adds up to some 
90 billion Deutsche marks 
invested in the region’s new 
factories (and in what goes 
into and around them), a 
22.6 percent increase in in- 
dustrial output and 2 1 9.4 
percent rise in orders re- 
ceived in the first half of 
1994, as compared with the 
same period in 1993. 


The New North 


Continued from page 15 

these countries have already 
led to a bubbling of East- 
West trade and transport re- 
lationships. 

“Mecklenburg-Western 
Pomerania, Saxony and 
Brandenburg have done 
their fair share to help the 
accession of our eastern 
neighbors to foe EU,” says 
Burkhard Dreher, Branden- 
burg's minister of economic 
affairs, pointing to the 
irons national European re- 
gion created by the three 
new states and Poland and 
the Czech Republic over the 


past four years. Also created 
have been two international 
parks, a German-Polish “Eu- 
ropa University,” and inter- 
national business and world- 
trade centers. 

To put an end to chronic 
traffic jams at border cross- 
ings, Saxony launched in 
September a “rolling road" 
that shuttles trucks between 
Dresden and the northern 
Czech Republic. Branden- 
burg and Poland are busy 
constructing high-capacity 
customs checkpoints. "Our 
top priority is simply getting 
everybody across the bor- 
der,” says a local official. 








I 


T 

n 


Page 18 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 15, 1994 


SPONSORED SECTION 


E R M A N Y 


T H 


N E W 


S T A 


T E S 



Federal Ministry of Economics 

Foreign Investor Information Center 

Schamhorststr. 36 

D-I01 15 Berlin 

Tel.: (49-30) 2014 7751 

Fax: (49-30) 2014 7036 

Director Helga Manned; . 

Investment Counselors: Manfred Ruppnch, John 

Zindar 






Berlin 

Winschaftsfbrdenmg Berlin GmbH 
Hallerstr. 6 
D- 10587 Berlin 
Tel.: (49-30) 399 800 
Fax: (49-30) 3998 0239 

Brandenburg 

WirtschaftsfOrderung Brandenburg 
GmbH 

AmLehnitzsee 
D- 14476 Neu Fahrland 
Tel.: (49-331)967 50 
Fax: (49-331) 967 5100 

Mecklenburg- Western 
Pomerania 

GeseUscbaft ftir Wirtschaftsfordening 
Meckienbuig-Vorpommemi mbH 
Schlossgartenallee 15 
D- 19061 Schwerin 
Tel.: (49-385) 592250 
Fax: (49-385) 59 22 522 


Saxony 

WirtschaftsfSrderung Sachsen GmbH 

Albertstr. 34 

D-01097 Dresden 

Tel.: (49-351) 44 08 40 

Fax: (49-351)4408 440 

Saxony-Anhalt 

Wirtschaftsforderungsgesellschaft 
fur das Land Sachsen-Anhalt mbH 
Schleinufeistr. 16 
39104 Magdeburg 
Tel.: (49-391) 56 89 90 
Fax: 149-391 >56 89 999 


Thuringia 

Th ti ringer Landes- Wiitschafts- 
forderungs-Gesellschaft m-b.H. 
Tschaikowskistr. 1 1 
D-99096 Erfurt 
Tel.: (49-361)42 92 0 
Fax: (49-361)42 92 121 


For information about real estate in the 
new states: 

Treuhand-Liegenschaftsgesellschaft mbH 

Alexanderplatz 6 

D- 10 100 Berlin 

Tel.: (49-30)31 54 01 

Fax: (49-30) 31 54 76 03 

For information about investment 
support: 

KfW Kreditanstalt fur Wiederaufbau 

Berlin office 

Charlottenstr. 33/33a 

D-10117 BerUn 

Tel.: (49-30) 232 64 315 

Fax: (49-30) 232 64 192 

Deutsche Ausgleichsbank 

Berlin 

Sarrazinstr. 11-15 
D-12159 Berlin 
Tel.: (49-30) 85 08 5 - 0 
Fax: (49-30) 85 08 5 - 298 





Trade Fairs Chalk Up 

A Record-Breaking Year 

The new stares ’ trade fairs have attracted enormous international interest this year. 


m 


Leipzig’s trade-fair authority is among the top 20 in the world. 


High Times, High Stakes 
And High Technology 

The new states' university towns offer a sense of high adventure. 


An increasing number of 
West Germans prefer to 
study in the new states' 15 
university cities - or "uni 
towns," as they are affec- 
tionately called. West Ger- 
mans account for one-sev- 
enth of the 123,610 students 
matriculating this year in the 
new stales. Their reasons for 
heading eastward are emi- 
nently understandable. The 
new states' universities offer 
relatively low student- 
teacher ratios, small classes, 
abundant housing and easy 
access to even the most de- 
sirable courses. 

Founded in 1409 

The quality of housing 
varies as greatly as the ages 
and sizes of the universities 
themselves. Focusing on 
promoting economic and 
cultural ties between Ger- 
many and Poland, the Eu- 
ropa University Viadrina has 
just opened its doors in 
Frankfurt/Oder, with a cor- 
responding private-sector 
university still in the found- 
ing phase on the island of 
Rugen. The oldest among 
the new states' universities 
is the University of Leipzig, 
which commenced opera- 
tions in 1409. 

Schiller and Goethe 

Perhaps the most famous of 
the local “unis” is the 
Friedrich Schiller University 
in Jena Its namesake began 
lecturing in history there in 
1789. Schiller bad been rec- 
ommended for his nonpay- 
ing position by a local offi- 
cial and poet named 
Goethe. At that time, the 
university was already 231 
years old, making it 167 
years younger than the Uni- 
versity of Erfurt. The latter 
is now to begin operations 


again, with classes set to 
start in autumn 1996. 

As one might expect. 
Berlin’s Humboldt Universi- 
ty is the largest in the new 
states. Its enrollment of 
more than 23,100 is 230 
times larger than that of Zit- 
tau’s. 

Shocked but lucky 
While contending with a 
mild form of culture shock, 
the arrivals from the West 
are also experiencing "a 
chance of a lifetime,” Pro- 
fessor Olaf Werner recently 
said in an interview in the 
Siiddeutsche Zeitung. Mr. 
Wemer is one of the many 
"imports” from the West. 

To date, some 3 billion 
Deutsche marks t$l.9 bil- 
lion) have been invested in 
the new states' system of 
post-secondary education by 
the federal government 
alone. Some 160 million 
DM of this amount and vari- 
ous other federal and state 
funds have gone to Jena’s 
university. 

More funds needed 

According to local profes- 
sors and students, this mon- 
ey is by no means sufficient 
Space in some departments 
is scarce; other buildings 
and facilities are still await- 
ing renovation and expan- 
sion. 

Nevertheless, the funding 
has been enough to trigger a 
remaking of the university’s 
faculty and curricula, and to 
create an entirely new at- 
mosphere in Jena. 

“We in Jena have the 
chance not only to take paths 
never before taken,” says 
Mr. Wemer, “but also to de- 
termine entirely new ways 
of proceeding.” 

Today, their new paths 


have taken the 26,000 scien- 
tists and 30.000 trained tech- 
nicians in the Jena area 
throughout the city and 
rather far down the road of 
free enterprise, even into the 
depths of outer space and of 
industrial Thuringia. Many 
of them are now staffing the 
27 university-related and in- 
dependent research-and-de- 
velopment centers, technol- 
ogy-transfer agencies and 
centers, and business parks 
in the city. Some of these 
centers and parks are spank- 
ing new; others are convert- 
ed” facilities that once be- 
longed to the Carl Zeiss Jena 
Kombinat, a vertically inte- 
grated. public-sector holding 
company. Occupying them 
are some 1 50 companies, ac- 
cording to an unofficial 
count. 

Help for satellites 
These companies* products 
are helping satellites com- 
municate with each other via 
laser beams. They are also 
turning decades of tar de- 
posits into usable chemicals, 
and leaves and living tissues 
into "readable works,” 
thanks to ultra-prerise scan- 
ners. 

The “birth” of a number of 
these companies was mid- 
wifed by TOU (Fdrderung 
technologieoriennerter Un- 
temehmungsgriindungen), a 
special venture-capital fund 
financed by Germany’s fed- 
eral ministry of technology 
and research. 

As of June 30, 1994, there 
were 215 TOU companies in 
the new states. The money 
allocated to support them 
was just a small part of the 
1.6 billion DM going to the 
new states’ R&D communi- 
ty from the federal govern- 
ment in 1994. 


A his year, the trade fairs in Germany’s 
new states attracted a record number of ex- 
hibitors and visitors from the West, reports 
Me Wirtschaft business weekly in a special 
report This record is partially due to another 
record: 165 major events were staged in 
1994 by 50 local and corporate organizers, 
most of them professionals from the West 
The local authorities include such relatively 
small and highly enterprising operations as 
those in Cottbus and Neubrandenburg, as 
well as in Messe Leipzig, one of the world’s 
top 20 trade-fair authorities, whose new fur- 
grounds will be opening its doors in spring 
1996. 

The record was also due to the abundance 
of exciting new products and services show- 
cased at these fairs, which also featured a 
wide range of new-look formats. 

Attracted by new market 
For many observers, however, it was neither 
the pro duc ts nor the services these compa- 
nies displayed that primarily brought the 
"outsiders” to the new states; rather, it was 
the companies themselves and the market 
they form. 

“International companies are coming to 
the trade fairs because of their eagerness to 
make full use of one opportunity, and their 
fear of missing out on another,” says Rudolf 
Huber, spokesperson for Leipziger Messe 
AG. “Many of the new states’ 460,000 com- 
panies have developed ranges of very inter- 
esting and competitive products and services 
over the past four years - plus a large 
amount of purchasing power. International 
companies are always on the lookout for 
new technology and components suppliers 
and customers, and that is one reason why 
they are coming to the new states’ trade 
fairs.” 

Another reason, he adds, is that foreign 


companies have notiaxi 4* ^ 

and highly sophisticated 

shape fire, and that these 

theueed to secure locally based expertise in 

cracking it” 

rsatixasfflL. 

nomics’ central coordinating board for foe 

new states. . , - 

‘These can take many particular iorms - 
single-project partnerships, one- or two-way 
licensing and marketing agreements, or even 
new-look joint ventures, Mr- Vritnjpadds- 
The only persons not entirely pleased with 
the development are the statisticians and 

business-development promoters. ■ 

“We have a flood of reports opmdividuai 
joint ventures — such as the 100 million 
Deutsche mark [$64 million] venture i con- 
cluded between BASF and GE in 
Schwarzheide, Brandenburg - but no com- 
prehensive figures,” says Ute Leopold, staff 
investment expert at the Federal Ministry of 
Economic’s Foreign Investment Center in 
Berlin. “The reports are useful when it 
comes to promoting investment in^the new 
states, but statistics would be better.” 

Newsflash , 

The flood of reports includes these updates: 
A Belgian pharmaceutical company sets up 
a joint venture with a pharmaceutical com- 
pany in Rodleben, Saxony Anhalt; Jena 
T ^ngr.VirnipHtpf-hnftr, a joint venture between 
Jenoptik and Switzerland's Feintool Interna- 
tional Holding, commissions its new factory; 
DLW-Metecno GmbH, a joint venture be- 
tween the new states’ DLW Bautechnik 
GmbH and Turin’s Metecno S.p~A.. puts its 
new factory into operation; and much more. 


Ready to Go: Chop Suey, 

Cat .zone and Cucumber Soup 

A survey of regional and international dining in the new states. 


F< 


or once, the competing 
teams of tasters and testers 
from Guide Micheiin and 
Gault Millau are in agree- 
ment. Both put the number 
of “gourmet communities” 
in Germany’s new states at 
40. This means that 40 
towns and areas — from Suhl 
in the south to Rugen in foe- 
north - have at least one 
restaurant with a ranking of 
“one star” (or “one toque.” 
in Gault Millau’s parlance). 
As one might expect, the 
Leipzig and Dresden areas 
lead the pack. 

Regional vs. international 
These gourmet guides reveal 
two interesting patterns. The 
stars and toques are divided 
on a 50-50 basis between the 
resurgent regional cuisines 
and such international culi- 
nary superstars as French 
and Italian cooking. The 
“foreigners” tend to congre- 
gate in the region's central 
cities; the best of the region- 
al establishments are found 
out in the country. 

For every Ristorante 
Rossini in downtown Dres- 
den. there is a Hotel Schloss 
Bliic her in Gohren-Lebbin, a 
village located slightly more 
than 100 kilometers (62 
miles) north of Berlin. 

The Hotel Schloss Bluch- 
er is well worth the trip. As 


Gault Millau reports, "the 
food is as sumptuous as its 
setting - the palace’s dining 
hall.” The Prussian field 
marshal Bliicher - the real 
victor at Waterloo - spent a 
king's ransom (literally) in 
building and decorating his 
seaL 

The same breadth of gas- 
tronomic selection is avail- 
able for those not willing to 
spend the 100 Deutsche 
marks ($64) per person 
levied by the new states’- 
Rossinis or Bluchers. 

Willing to deliver 
At the moment, the Italians 
definitely have the upper 
hand. 

In the early days of the 
new states, it was the Chi- 
nese who pioneered foreign 
fare in the far reaches of 
G astro w, Gera and Gdriitz. 
In Weimar, for instance, 
there are now five Chinese 
restaurants. 

Then a wave of Marios 
and Antonios swept over the 
region. In setting up a near 
monopoly of dining estab- 
lishments in many small 
towns, the Italians capital- 
ized on their proximity to 
Germany - and specifically, 
the new states. 

Their mobility was anoth- 
er advantage. They were 
willing to deliver. Italian- 


made compacts bearing tile , 
magic words “CalLa-Paza” . 
or “Pizza Pronto” are now 
staples of the new states’ 
city streets. Weimar, for in- 
stance, boasts seven Italian 
restaurants; two American 
steak houses, two Greek tav- 
emas and a putatively Eng- 
lish pub. 


“CaU a Chinese” cars 
With typical entrepreneurial 
dash, the Chinese have been 
quick to follow suit. “Call a 
Chinese” cars have been 
spotted in both Leipzig and 
eastern Berlin. 

A quick glance at the 
menu reveals the Chinese’ 
cleverness. In a classic dis- 
play of “if you can’t beat 
them, join them,” die call-in 
menu offers calzone along- 
side chop suey. 

AH is not lost 

All is by no means lost on 
the inexpensive regional 
foods front. 

The new states offer a 
gratifying number of moder- 
ately priced, stylishly and 
sparsely furnished establish- 
ments offering “noble fish 
soup from the Havel region” 
or “Spree wald-style cucum- 
ber stew.” Oddly, these pal- 
adins of regional foods bear 
a generic, French name: 
“bistro.” 




! :*v 


Enjoy the Present, Pursue the Past 


Continued from page 15 

the Baltic island of Usedom. 
A goodly portion of the 
money earned in financing 
Germany’s industrial revo- 
lution went to build this 
magnificent villa. After the 
banker Bleichrtider and his 
family departed from the 
scene, the tyrants arrived, 
with the villa becoming one 
of Goring* s favorite vaca- 
tion spots. 

Then came the victors. So- 
viet Army officers recuper- 
ated the villa’s large-sized 
park, and they went swim- 
ming in the adjoining sea. 
Communist dignitaries en- 
gaged in various leisure- 
time sports and frolic. 

The newest occupants of 
the Hotel Diana, now thor- 
oughly renovated are those 
making current economic 
history - successful business 
executives from near and 
far. 


For travelers looking for a 
hotel with a long and illustri- 
ous history. Weimar’s Hotel 
Elefam is hard to beat Orig- 
inally built in the 16th centu- 
ry, the hotel welcomed such 
guests as the painter Lucas 
Cranach, Johann Sebastian 
Bach. Richard Wagner and 
Thomas Mann. The latter, 
on the obligatory tour of 
“Europe’s capital of cultural 
life,” was moved to set a 
work in the hotel. 

Young Werther’s woman 
The Lotte in “Lotte in 
Weimar” is Charlotte Kest- 
ner. who arrives in Weimar 
wanting to re-encounter the 
great suitor of her youth: Jo- 
hann Wolfgang von Goethe, 
who had immortalized her in 
the “Sorrows of the Young 
Werther.” For those interest- 
ed in exploring the traces of 
these titans of Weimar’s 
past, the exquisitely com- 
fortable hotel maintains a 


team of vigilant, vigorous 
guides on its staff. 

Foreign tourists’ interest 
in Lotte, Goethe and 
Weimar has often taken un- 
usual forms. 

One of Seoul’s flagship 
department stores, for in- 
stance. is named “Lotte,” a 
tribute to its owner’s passion 
for Goethe’s work. 

The influence of water 
History books always point 
to Brandenburg’s sandy soil 
as the determinant of its 
thrifty entrepreneurship. To 
date, no historian (and only 
one novelist, Theodor 
Fontane) has speculated on 
the influence of water on the 
state’s character. Branden- 
burg, after all, does have 
some 10,000 lakes, river 
arms and marshes. 

Tourists-cum-scholars 
wishing to personally make 
amends for this oversight 
should stay at Burg’s 


Gasthof Zur Linde, a com- 
pletely restored 19th-century 
guesthouse perched in the 
Spreewald. Brandenburg’s 
bayou country. Or they can 
let themselves be guided by 
Fontane and visit Lindow, 
“one of the most beautiful 
parts of the Marie Branden- 
burg,” and put up at its Park- 
hotel am See. This half-tim- 
bered hotel fronts a lake, and 
it is within easy walking dis- 
tance of two others. 

Since the poet Heinrich 
Heine pul the Harz “on the 
map” by immortalizing 
these mountains in his ac- 
counts of his wintertime 
Wanderungen. or hikes, 
what better place to stay in 
the Harz than in the Hotel 
Heinrich Heine? This tum- 
of-the-century hotel is situat- 
ed in the midst of a palatial 
park; it is located in 
Schierke, a town in the very 
heart of the Harz, centra) 
Germany’s highest moun- 
tain range. 

Visitors can emulate 
Herne and traipse down (he 
“Heinrich Heine Way * (the 
new name of one of the 
winding paths taken by him) 
to the Brocken, the moun- 
tains’ highest point, or to 
Wemigerode, a masterpiece 


“Germany: The New States” 
h us produced in its entirety by the Advertising Deportment 
of the International Herald Tribune. It was sponsored 
by the Federal Ministry of Economics. 

Writer: Terry Swartzberg, a business writer based in Munich . ' v 
Program director: Bill Makder. 



Rugen’s chalk cHffs: 

Visitors who king to 
experience the “romance of 

the Baltic n will notbe 
disappointed. 


i} *! 


of medieval half-timbered 
design. 

Everything about WQrlitz 
was a family affair. Its 
duchy of Anhalt-Dessau was 
family-sized, small enough 
for its ruling dynasty to take 
a high familial interest in the 
doings of its subjects. An- 
halt-Dessau’s family passion 
was gardening. 

Their Wdr-litzer Park is 
still considered one of the 
world’s greatest gardens. 
The best place to stay in 
Worlitz is Zum Stein, a 
guesthouse that has been 


owned, fittingly enough, by 
the same family for more 
than 70 years. 

Millionaires’ mansions 
It was a great tradition in 
Saxony: As soon as an in- 
dustrialist made his first mil- 
lion gold marks or so, he 
built a mansion from which 
he could commune with the 
state's feudal past, its castles 
and fortifications. Pre- World 
War I Saxony was not short 
on either millionaires or 
mansions. The state account- 
ed for onc-third of Ger- 


duction. Nor was Saxony 
short on castles. Its ruling 
dynasty in Saxony had 
shown a propensity for di- 
viding up kingdoms, rather 
than sharing power. 

One of the Saxons, Julius 
Bidtel, made his fortune 
from manufacturing dye and 
fine paints - not a bad idea 
in the porcelain city of Meis- 
sen. His villa’s exterior, pan- 
eled with brightly colored 
tiles, details the source of his 
wealth. The villa has be- 
come the Parkhotel Pannon- 


• ----- “ muu, 

and has loomed over 
ony’s history for 1 
years. 

One of Europe’s gre 
dustnal cities, Chemnit 
more than its share of 
honaires and mansions, 
a mighty castle of its 
Facing it is the comfoi 

on foe tourist’s interest- 
°i foe best restaurants i 
new states. 


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ADVERTISEMENT Doc. 14, 1994 

INTERNATIONAL FUNDS 


Page 19 


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INCOME PARTNERS (ASIA) LIMITED 

w Asian FUed Income Fd S I872S 

ft Money Martet Fa j 10037 

INTER INVEST (BERMUDA) LTD 
C/o Bank at Bermuda. Trl : 889 29$ 4000 
m Hedge Hog & Conserve Fd-S 9X3 

INTERNATIONAL ASSETS FUND 

8 Bd RovaL L-2449 Lu«emDoura 

w Europe Sud E Ecu 0827 

INVESCO 11m. LTD, POB 271, Jersey 
Tel: «4 0473114 

tf Maximum income Fund t 89309 ' 

tf Sterling Mngd Ptfl i 2X570 

tf Pioneer Mark tB - - - - r 62320 

0 0ko6ai Gtobal Strategy S 16X300 

rf Asia Super Growth S 21*000 

rf Nippon Warrant Fund — » 13B00 

rf Asia Tiger Warrant s 1S500 

tf European Warrant Fond S 2X000 

<fGMN.W.T9M— i 10X000 

d Globoi Leisure j 5MB 

PREMIER SELECT FUNDS 

tf American Grawth I 5X300 

tf American Enterprise 5 87400 

0 Asia Tiger Growth— t 1IJ900 

tf Dollar Reserve. % 5J400 

tf European Growth S ssm 

0 European Enterprise— S 6X400 

tf Gtobal Emerging Markets -S 9.1000 

rf Gtobal Growth ] 53200 

tf Nippon Enterprise—. s 70m 

tf Nippon Growth. s 5X700 

rf UK Growth C 5.1500 

tf Greater China Oops i L7700 

IRISH LIFE INTL LKL (fax) XS3-1-7M 1922 
tf l ate r nu ttoi w l Cauitous— s 1X01 

rf unemotional Balanced 5 0X89 

tf International Growth I 0.983 

1TALFORTUNE INTL. FUNDS 
w Class A (Aggr. Growth ital.K 74248X0 

w Class B (Gtobal Equity) S 11X3 

w Class C (Global Band) S 1031 

w Class D (Ecu Bond) Ecu 1869 

JARDIHE FLEMING. GPO BOX 11441 HO Kg 

d JF ASEAN Truss 1 5220 

tf JF Far East Wml Tr 5 1552 

tf JF Gtobal Conv. Tr % 1235 

d JF Hong Kong Trust— S 1431 

tf JF Jqagn Stn. Co Tr. Y 42688X0 

tf JF Japan Trust .Y 1 9701X0 

tf JF Motovsta Trust S 2115 

tf JF Pacific Inc. Tr. — S U23 

rf JF Thcdtand Troll S 4805 

JOHN GOVETT HUNT (L03U LTD 
Tel: 34334- 62 *428 

wGavetl Man. Futures —3 10X4 

wGovettManFifLUSS S 7.11 

w Govern Gear. Cut % 1872 

teGowettsGRiiBaLHdgt— S hlbjm 

JUUUS BAER GROUP 


tf Baorimd SF B62J 

tf Conbor SF 

0 Enulbaer America S 

0 Enulbaer Europe. ... - ■ SF 

0 SFR ■ BAER SF 

tf Stodcbar SF 

tf Swtasbor ———————— SF 

tf Ltautaaer 9 

tf Eunice Bond Fund— Ecu 

rf Dollar Band Fund -I 

tf Auslra Band Fund —AS 

rf Swiss Band Fund SF 

tf DM Bond Fund dm 

tf Convert Band Fund 5F 

tf Gtobal Bond Fund DM 

tf Euro Stock Fund Ecu 

tf US Stock Fuitf_— _S 

tf Pacific stock Fund % 

0 Swiss Stack Fund SF 

d Special Swta Stock— SF 

rf Japan Stock Fund— — Y 

tf German Stock Fund DM 

tf Korean Stack Fund I 

a Swiss Franc Cash —SF 

rf DM Cash Fund DM 

tf ECU Cash Fund Ecu 

tf Storting Cash Fund— 1 

rf Dollar Cash Fund S 

0 French Franc Cash— FF 
KEY ASSET MANAGEMENT INC 

rn K6V Aria Holdings 3 191.25 

m Key Global Hedge 3 24U6 

mKev Hodge Fund Inc I 1*8J0 

Kl PACIFIC ASSET (MANAGEMENT INC 

mKI Asia Pacific Fd Ltd S 1101 

KIDDER, PEABODY 

b Chesapeake Fuad LM S 111831 

b III Fund LM S 1191X0 

ft inn Guaranteed Fund s 1 38431 

o Stonehenge Ltd s 17*83* 

LEHMAN BROTHERS 13/12/94 

tf Asian Drawn Pert NV A — S f.13 

tf Aslan Dragon Port NVB — S 9.11 

rf Globa) Advisor* II NV A S 10X1 

rf Global Advisory 1 1 NVB — S *XB 

rf Globoi Advisors Pori NVAJ 1801 

tf Gtobal Advisors Part NV BJ 9.93 

rf Lehman Cur Adv. A/B s 7J3 

tf Natural Resources nv a - j !ji 

tf Natural Resources NV B — S Ml 

rf Premier Futures Aav A/B Jl 1039 

UPPO INVESTMENTS 
24/F Uppo Tower Centre. 8* OuserawayjiK 
Tei (852) 847*888 Fa* (652)596 KHB 

w Jove Fund ■ 1 8X3 

wIDR Money Mortal Fd s III* 

w USD Manor Martel Fd— * 1033 

w MemskBi Grawth Fd— 3 2871 

wAstan Growth Fund S 438 

w Alton WerreM Find S 511 

LLOYD GEORGE 84NGMT (1SS l«4*n 

w Antenna Fund — S 17X9 

w LG Aston Smaller Cos Fd-S 17X883 

wLG Indto FundUd S i*js 

wLG Japan Fd 1 10X5 

w LG Korea Fd Pic 8 1897 

LLOYDS BANK INTL (BAHAMAS) Ltd 
w Lloyds Americas Foritolto—S MS 

LOMBARD, ODIER ft CIE ■ GROUP 
OBUPLEX LTD (Cl) 

d MuiNcurrency S XU0 

0 DoBar Modhim Term S 2437 

rf Dollar Long Term % J9J3 

dJopmseYea _Y *9K« 

rf Powd Sterling— — — t 27X7 

rf Deutsche Mark DM 1737 

d Dutch Florin Fl 1835 

rf HY Eurocurrencies Ea 1572 

d Swiss Franc — — — SF 1UB 

a US DolHr Short Term 1 UK 

rf HY Eura Curr Ohdd Pay — Ecu WX1 

rf Swiss Mottlcurreney SF 1337 

d European Currency — E01 22X8 

d Betatan Franc BF 13834 

0 Cmvortfbta * 1437 

rf French Franc. ■■ FF 15435 

rf Swiss Mu MIDI virfencl 5F 937 

0 Swiss Franc Short-Term SF IB871 

tf Canadian Dado- CS 1339 

tf Dutch Florin MuHl Fl WX7 

tf Swiss Franc Divkl Par.. — 3F 1038 

0 CAD Muiilcur.Olv CS nxi 

tf MadHerranean Curr SF 1816 

tf Cu n rer U O te s . S F 93Q 

tf Deutschmark Short Term —DM 1811 

MAGNUM FUNDS isle el Mm 

Tel 4333* M833D fax 44-424 488 334 - 

wMagnum Fund — .. t BVJG 

W Mdjnuoi MJII-F und S 92.48 

wManmun Emerg Growth FdS B*J4 

w MAgaum Aggm GrwH) FrfS *138 

MALABAR CAP MGMT (Benmda) LTD 

mMaktoar inn Fund .3 1733 

MAN INTERNATIONAL FUTURES 
m MM Limited- Or Aarv — S 4133 

m Mint Limited -Income 1 13X1 

mMMG8dUd>Ssnclisue— 5 2832 

mMW GW Ud- Nov 2002 —3 »B 

mMM Gtd LM - Dec 19M 5 17X8 

DIMM GMLM- AM 19*5 S 1472 

mMInt 5a Res Ltd IBNR) 6 100L30 

mMkit Gtd Currencies * f * 

mMJni Gtd Currencies 2SH1-3 637 

ft] Mint GGLFto 2003 S 531 

mMtat Plus Gtd 2883 S 935 

m Athena Old Futures t 13X9 

m Athena GM Curre nc i es — s 937 

IPAIDCM GU FlNHMs COP3 1818 

m Athena Gtd Fkianctata IncJl 936 

m AH L Cart tol Mkta Fd— — 6 lift! 

mAHL ComntodNy Fund — ... » 14X1 

inAHL Currency Fund S J77 

mAHL Real Tim# Trad Fd 5 838 

mAHL GM Real Time Trd — 3 170 

mAHL GW Cap Murk LM — % 9m 

mAHL GM CemmaSIles LMJ 
mMMGuaraakad 1998 Ltd— S 171 

mMnp Leveraged ftneay. LM3 18ffi 

m map Guareidted mb s sjj 

mMAP GH2B01 1 84* 

MARITIME MANAGEMENT ltd 
72 Front St Hamilton Bermuda 51005393 
w Maritime MM-Sodor 1 LM JS *8936 

u Maritime GW Beta SertesJl 81U4 

w Maritime GW Delto Series 3 779J3 

MATTHEWS INTERNATIONAL MGT 
EMERGING ASIAN STRATEGIES FUND 

m CkHS A 1 

rfftB—f * UML37 

PACIFIC CO«V STRATEGIES FD LTD 

mOassA S 

rf ■ * 8932 

MAVERKK (CmnMaMNf) IIHM 
mMorerkk Fund — —J _ 158227V 


MCKINLEY CXPIfAL PANIITtftS, LTD 

m The Concur Fund LK s 7335 

m The Onwmcss F 1 Lfd 1 1233 

MCESPIERMN 

flok.fr> Y- lb rau. MW.'.'Areem i2g-<5ii,*j| 
wAilaPocGrcwthFdN., - _s 337 

w Aslan Coot tel Hetties:,— j 57 13 

wAsiar. Selection no Nv fi 

w DP Amer. Growm Ft h •/. .1 33.54 

w£v.S0fhhurcFJ N.V Fi jqk 

w Eurcoc Growth FunaN.v _f I 59.9? 

wJiooi Diversified Fune 1 *sx 

■> Leveraged Con how i ro-i 

MERRILL LYNCH 

a Dollar Atocta Pontaiia s iso 

a Prime Role Pcrnci.s s 9 99 

ME KRILL 1. r NCH K)B T- * EflM 
WORLD INCOME PORTFOLIO 
tfCtouA — 5 L3 

rf Closl B 5 a 23 

MERRILL LYNCH 

GLOBAL CURRENCY BOND SERIES 
AUSTRALIAN DOLLAR PORTFOLIO 

tf Category A— — AS 1774 

tf Category 8 AS 17J5 

CANADIAN DOLLAR PORTFOLIO 

tf Category a a 14.1? 

rf Category B cs '.17? 

CORPORATE HIGH INCOME PTF_ 

rf cwv. a -1 s Lea 

tf Class A-2. S 0e) 

rfClauB-l J Sod 

rf Cura B I j 957 

DEUTSCHE MARK PORTFOLIO 

d Catrcjry A DM »2>3 

rf Category B 3 V li74 

EUROPEAN BOND PORTFOLIO IDM) 

rCftuA-i— s nee 

tf OcmA-2_ 1 l'|) 

d Dess B-1 S 13*1 

rf CIbbR J — ■ 3 1SJ3 

EUROPEAN BOND PORTFOLIO (USSt 

J Dan A-1 — CM 3X9 

tf CiauA-7 DM 9.99 

tf Class B-1 ■■■ S 5.57 

a Class B-2 S 959 

POUND STEPLING PORTFOLIO 

rf Category A — —l IMS 

rf Category p r >i£C 

US DOLLAR PORTFOLIO 

tf Category A_ S IHS 

a Category B — — 3 1113 

YEN PORTFOLIO 

rf fWor, fl v IJ99 

if Caicaorr B r i;b 

MULTI CURRENCY BC If D PTFL 

0 Class A 1 32J» 

tf Oass B 5 21X9 

US FEDERAL SECURITIES PTFL 

tf Cloys A 1 SOT 

0 Class B S 9A7 

MERRILL LYNCH 

EQUITY / CONVERTIBLE SERIES 

BASIC VALUE PORTFOLIO 

0 Class A 1 14*7 

a Class B S 1337 

CONVERTIBLE SECURITIES PTFL 

0 Class A 5 1X51 

0 Class B S 1335 

GLOBAL ALLOCATION PTFL I USS) 

0CkraA— S 13 JS 

a Class B S ® K 

GLOBAL EQUITY PORTFOLIO 

0 Class A S 9.7i 

0 CUES B » 9.!6 

GLOBAL SHALL CAP PORTFOLIO 

rf Clan A — ~S 9*9 

a Class B 3 9.4) 

EURO EQUITY PORTFOLIO 

aCktasA i lltS 

a Class B 1 11*3 

LATIN AMERICA PORTFOLIO 
J CioasA 5 14X9 

d Class B S 16.69 

PACIFIC EQUITY PORTFOLIO 

d Class A S 9.2 

0 Class B * 9X0 

WORLD NATURAL RESOURCES PTFL 

rf Class A 5 11X2 

a Class B S 1EJ1 

DRAGON PORTFOLIO 

0 Class A S 1441 

if Class B S 1434 

MERRILL LYNCH BANK (SUISSE) SJL 
SWISS FUNDS 

0 MLBS Balanced A USD S 163477 

. tf MLBS Balanced B CHF S 253X00 

tf MLB5 Fixed me A USD S 14255$ 

0 MLBS Fixed me B ECU S 1499.98 

LUXEMBOURG PORTFOLIO 

d US Dollar Fixed Inc S 9X8 

d OM Fixed Inc DM 1539 

d ECU Fixed Inc Ecu HUM 

d US Dollar Balanced S 93* 

d ECU Balanced Ecu *30 

tf Whrtdmdr EdUlIV I *37 

MERRILL LYNCH EMERGING MARKETS 

tfOassA s 11.1a 

tf Class 8 S 11X9 

MERRILL LYNCH INC S PORTFOLIO 

tf Class A S 855 

tf Class B S 855 

rf Class C S 835 

MERRILL LYNCH MEXICAN INC PORT 

tf Mexican IKS Ptft a A s *31 

0 Me* icon IkS P tfl a B_ S 931 

tf Mexican Inc peso Ptfl a A3 8J0 

tf Mexican Ik Peso Ptfl Cl B 3 b.9o 

MILLENNIUM ASSET MANASEMENT 
fnThe USS Gib! Currency Fd_$ 1000X0 
MOMENTUM ASSET MANAGEMENT 
m Momentum Rainbow Fd — S 118*8 

m Momentum RxR R.U S 72J2 

m Momentum swekmasier S 156.12 

MORVALVOHW1LLER ASSET MG7T CO ___ 


j , PRIVATE ASSET MG7 GAM FUND INC 
JOS 1 Cii6mser.'Te::(00*4 4J1) 72*2 Fa. ■'23433 
iaa ! w Private Asset MsfGAV.FdJ *»iJ 

| PUTNAM 

1 1 ff Emerging Him Sc. Trjs* — S M<2 

3J7 ! WPu*nor"Ein.!niL5LTrK*3 4iM 

57 13 a PidnBEi Guo. Hign Grawri 3 1533 

•,-JF ! rf PutaemHisn IRC GNMA FCS 735 

2314 t c PL-ftxirrt liUl Fund » i433 

OK 1 QUANTUM GROUP OF FUNDS 
mot I w Aslan Development— -Oil. 
453) w Emerafivg Grown Fa n.v. _s IKKJ 

S*ji w 5uon;om f nod S.V. 1 1TSM21 

I w Quantum indutfrlil S 13*54 

too I W Quartern Reaty Trim— _ S 13TJ* 

9» ■ wQucntumUK Perttv Funfl_[ >1850 

• w Qrexf lart Fund N.V S I ST 43 

1 w Quota Fund ttv S 14136 

S3 1 REGENT FUND MANAGEMENT LTD 

sj: ; w new K;reo Grawtn Fa s 119? 

w Nova Lai Poalr< inv Ca — s 49*73 

w PccftK Aranraer Ca s joe* 

m RL. Counter Aral Fd S 2Xr3 

n jt a Regent uei Am Grth Fd — s LKSi 


w Winer Japan Y Jocns 

w WlUer South East Asia 1 1532 

w Wilier Teiccam - — Jt 9J7 

w Wtilertunds-Wdlerband Caps IS37 

ir WHtertwidvWfllertMnd EurEcu 1238 

w wntetfunds-WIBerea Ear— Ecu 1828 

w Wlllerfunds-Wlllereq Italy -Lit 1U69XS 

•*WUlertuniteMnnereaNA_s 188a 

MULTIMANAGER M.V. 

mWarid Band Fund Ecu 1254 

m European Eaulltos— Ecu MJ6 

m Japanese EquHtn Y 832 

mEnwrptogMariirts S 22X4 

mCesh Enhancement S 8*8 

mArbHrage S *XJ 

m Hadae. — — S 125* 

NICHOLAS-APPLEGATE CAPITAL MGT 
rf NA St ru leglc Opportunities J 102X2 

w NA Flexible Growth Fd S 1383* 

wNA Hedge Fund S 13B78 

NOMURA INTI- (HONG KONG) LTD 

tf Momma Jakarta Fund S I860 

0D6Y ASSET MANAGEMENT LTD 
Z) Grawenur SLLdn WIX 9FE3^7V49f 299S 

tf Oder European DM 18823 

wOdev Euraptai 1 109J9 

wOdey Europ Growth Inc DM 130.17 

w Oder Earw Growth Acc—DM 13035 

w Odey Euro Grth Star Inc— I 52X1 

wOdey Euro GrtflSterAec— t 521fl 

OLYMPIA CAPITAL INTL. INC 
WUDams House. Hamilton HMIL Barmuda 
Tel: 809 292-W18 Fax: 809295-2185 

wFInsburv Group S 2)8X4 

w Olympia Secur lie SF- SF 161X6 

w Otvmpia stm E mere Mkta S 94638 

w Winch. Eastern Dragon 5 k)34 

w Winch. Frontier S 26&80 

w WTntJt Fut. Otympta Star— S 1UX9 

w Winch. Gl Sec IK PI (A) — S 839 

w Winch. Gl See IK PI (C) — S 874 

m Which. Gtobal HEOithcore -Ecu 105035 
w Which. Hlda inti Madtaan-Ecu 152874 

w winch Hide Inti SerD Ecu 179U1 

tr Winch KhtelnTISerF Ecu 1788X8 

wWinch Mdo Otv Star Hedges WSJ8 

wWlnchReser.Mum.GvBd.* IBIS 

w winchester Thailand S 2578 

OPPENHEIMER 8 CO. INC FtfS 
ft ArMtrage international — I 10232 

ft Emerg Mkts mill I S 18L» 

B mn Horizon Fond 11 s U»fl7 

ft Oppen Catalyst Inti Ltd S 100X0 

OPTtGEST LUXEMBOURG 
ft Ortlorof Gttli FU FlAOd Lnc-DM 168:580 
A Opttgesl Glbi RtGen Sub FZ»M 179X54 
OPTIMA FUND MANAGEMENT 
73 Front 5L HwnlltohBcrniwJa 809 295-8458 
wOoflma Emerald Fd Ltd — S 1038 

w Optimo Fund » 17X6 

w Optima Futures Firtd S 1734 

w Optimo Gtobal Fund 5 13X7 

w Optima Pertculo Fd Ltd — s 930 

w Optima Short Fuad I 773 

wThe Ptallnam Fd Ltd S 1853 

ORBIT-EX GROUP OF FUNDS 

tf Ortattex Ada PpcjFd S 5.1569 

rf Ortjhex Com & Info Tech F=flS 5X026 

d Orout* GltH DBcavcry Fd J 4X805 

tf Orhitcx Growth Fd S 47141 

0 Orbital Heatm & Emrtr FUJ 4X274 

d Droilex Japan Smrtt Cop Frt 4.1730 

tf OrMtpx Natural Res Fd CS 122*7* 

PACTIIAL 

tf Etarmty Furel LM 5 3*83477 

d InflnttY Fund L« S 59735*8 

tf Itovostar Fund S 117.1597 

tf Star Hltfi Yield Fd Ltd S 16*3137 

PAR IBAS-C ROUP 

w Luxor . - 3 

tf Parvest usa B— s 

tf tened Japan B —V 

0 PlwvestAsfa PpcHB S 

tf Parvest Eunmy B Ecu 

tf Pcrrest Holland B Fl 

a Parvest France B . FF 

rf Pmvest Germany B DM 

rf Parvest OMKWtar B S 

rf Parvwt OWM1M B OM 

tf Parvest OM 1-Yen B Y 

tf Parvest Ofefl-Gohlen B — — Fl 

tf Parvest ObU-Ffwtc B FF 

tf Parvast Ohfl-Sw B- 1 

0 Parvest OMi-Eco B Ecu 

rf Parvest am-Brti* B lf 

tf Parvest S-T Dal tor B s 

0 Parvest S-T Europe B . . Eai 

tf Parvest S-T DEM B DM 

tf Parvest S-T FRFB FF 

a Parvest S-T Bet Plus B BF 

rf Parvest Global B IF 

tf Parvest in) Bred B— _S 

rf ParveP OM-Ura B — . — LH 

tf Parvest Ini Equities B S 

tf Parvest UK B 1 

tf Parvest USD Ptos B s 

0 Parvest S-T CNF B SF 

tf Ported QUlCmdaB CS 

tf Parvest ObIMMCK B DKK 


17JS e Regent Gm Eura Grin Fd Jl X»9a 

tf Regent Gibl Inti Grth K s 21*19 

14.17 I a Regent Gia jggerm Fa — 3 2xi« 

■177 ( a Power J GW Peril Basin — s 4X237 

ff accent GO' Reserve * 2.’M4 

U I a Regent GW Rwcunxs s 25*50 

4.6) I d Resent OM Tiger S 1BOS 

■46 [ rf PKHIII QU UK Grin Fd S 14,41 

9j7 ; w Rrotnf Mosnm Fa Ltt s _ 

t mBege m PccKk Htfg Fd S 125X77* 

1213 w Resent Srl Lanka Fd S 935 

1174 w Underval-jed AseTS Ser I — 5 1134 

REPUBLIC FUNDS 

1164 wBcwjfclto Fm. Israel ... S 10C3 

IS.43 wReoGtoS Ccrren=v__ — s -raja 

12 A* w OepSItt Fixed 17-C S 1027.72 

1L3 W PejsMSfflc GAM i 13454 

w RepUBiK GAM America 3 113X9 

12V » RwGAM Em MMSGtoSClJ >4530 

9.99 w Rep GAM Em lYxts Let A.T.S 12334 

w Renubhc GAM Eurege CHFSF HU29 

959 w Rembllc GAM Eurxae 'JESS <435 

w Republic GAM GrwrnCHF-SF 100.98 

141s w aeoutf 1C GAM Growth USS 5 141.99 

153C 1 i»<iecutnicGAMGrawffit— : *5.94 

I w FestSUic GAM. OPPCriunity S 11133 

llt£ j ir Rec-JMI: G <M Pccld: S 17734 

1113 I w Rew-tiic Gusev Do. its S 1231 

I » Rec.Wic Gnsci Eur .r* DM 1U* 

I TOT 1 w Republic Lot AC! AltoC i 19L34 

1752 i w Repebi,c Lrt Am Aroenl —5 95X9 

j w FrauMic Lei Am EriaJ S 110.13 

22£3 . w RettoLUc LCl Arr Mcuc S 123X5 

21X9 ( w Repuahr tot Am Vened S 3262 

wRcpSsiemon Metes 5 SUS 

SOT R03ECO GROUP 

937 POB 972300 AZ RatiertsrctfJlj 13 S4122* 

d RG America F laid — <1 13330 

a RG Europe Fund ?! 12LT0 

d RG Peril Ic Fund Fl 12X0 

1457 tf RG Li riretite Foret FT 5130 

1137 ff RGMftKvPtKFFI F! 11693 

Mere Ranees see Amsterdam Slacks 
1331 ROTHSCHILD (GROUP EDMOND DE) 

13X6 IN-HOUSE FUNDS 

i* Asian Cental KokCngs Ffl_S 57.19 

1335 wDtowoLCF RalWsfclia 83_S 1311.49 

«K wDciwnLCF Rrtlsch Ea S 1 d:l33 

* Force Cos.*' Tradition CHF .$f 1354531 

9.76 * Force Cash Treatise US5_5 KH5X6 

9.!6 » c orrs Cash Trad.nan BEF-BF 77T23X7 

wLeuam - . . . < 2M&74 

944 • Lower oped Cos Held mgs S 54.01 

9.4) wCSD-VCicr JF *5iS9 

• Pri Che ienoe Swiss Fd— 5F lOttftl 

1268 7 Priecuily Fd-Eurooe Ecu 112904 

13.13 2 Prieqc-iir Fd-Helvelia— _ 3F 154X00 

b PrlecwlY FO- Latin Am . . _ A 139353 

I4JD 5 Pnoone Fufitf Eai Ecu 119.157 

16.(4 9 Prifcor— Fund USD S 109-5(5 

3 Pri bond Fd HY Emer MklsJ 118X51 

9X2 * Scleclue Invest 5A 5 334334 

920 7 Smree S 10X5*10 

w us Bow fi. k s rastt 

11X2 * uartaalus Eai IKfeAS 

1271 ROTHSCHILD (GROUP EDMOND DE) 
OTHER FUNDS 

14*1 J Asia/ Japan Emerg. Growths 1532650 

1434 w Esuril Eur Partn Inv Tst Ecu 131 LQ 

•v Europ Strateg invKhnfff— Ecu 105X30 

3 imrerai Futures— _s *21X7 

34X7 S Pacific Nles Fund— 5 731 

3100 r Selection Harlan FF 82272X5 

kw ft Vlctaire Ar tone 1 5078.18 

99.98 ROTHSCHILD ASSET MGMT (CJ) LTD 

m Memrod Leveraged Hid S 84745 

9X8 SAFDIE GROUP/KEY ADVISORS LTD 
15x9 m Kev Diversified Ik Fd LtiLS liXlin 

10X6 b Tower Fund Global Band— S 10004X8 

934 0 Tower Fund Gioftat Equity -S 997854 

*30 SANTANDER NEW WORLD INV. 

9*7 01 Commander Fund —_3 10761937 

rrs mEroiorer Fund— — — . S 11733 133 

11.10 SC FUNDAMENTAL VALUE BVt LTD 
11^1 Tel 5999 32S600 Fas SOT 9 32203 1 

mNAV S 132*31 

855 SKAMDI MAVIS KA E NSKILDA BANKEN 

855 S-E-BANKEN FUND 

835 d Eurooo Inc 5 0X4 

r d FlnrranOstorn Ik S 0-90 

941 d Global IK S 0X5 

931 tf Lakamedei I nr s 0X7 

8J0 tf varidHi Inc i 1X2 

0.90 a Japan IK — — Y 8134 

d MU Id Inc S 034 

KUO rf Sverige iw - s<*fc KUO 

tf Nantomerika Ik S 0.93 

1038 0 Teknotonl Inc S 1X6 

)2J2 tf Sverige Rantetond Inc Sek *X2 

5L12 SKANDIFOKDS 

d Equity (till Arc S 1*36 

04X0 tf Equity Inti me S 111* 

1532 tf Equity Global—— — J IJg 

937 tf Equity NoL Resources S 1X3 

1537 d Equity Japan Y *031 

1ZM tf Equity Nordic — . — —...3 132 

1128 d Equity U.K. i 136 

19X0 0 Eauify Continental Europe J 1 43 

1036 d Equity Mediterranean S 0X0 

d Equity North America S 1XS 

1234 tf Eaultv For East 1 LSS 

143) rf Inti Emerging Mart efs — J 131 

832 tf Bond Inn Ace S 1238 

0X4 tf Bond Inti Ik — 1 733 

898 rf Bond Europe Ace 5 134 

9.92 tf Bond Europe IK S .1-01 

1239 rf Bond Sweden Acc. -■Sr* MXB 

r rf Bond Sweden hie Sek 1033 

E32 tf Hand DEM Acc DM 136 

Ml« ff Bond DEM Inc DM 0X4 

078 tf Band Dollar US Acc S 130 

rf Bond Dollar US Inc S 1X5 



tf Curr. US Dollar—. — > IX* 

d Curr. Swedfcft Kranar Sek 1232 

ff Sweden FVsdbte Off Act Sek IflJD 

tf Sweden FtotlOte Bd Ik Sek 1BLH 

500 ETE GENE RALE GROUP 

tf Asia Fuad V 51WX0 

tf BTWCed A J 1134 

rf BTW Cat B S 43J6 

w SGFAM Slraf FB Div FF 55462 

wSGFAM Steal Fd Fin S 93J7 

SOGELUX FUND ISFI 

wSFBorefeAOSA S 15X4 

wSf Bonds B Germany DM 3136 

w5F Bonds C Froacc FF 12737 

wSr Bonds GGJ5. 1 11X3 

w Sr Bands F Japan Y 2375 

w SF Bondi G Europe Ecu 1737 

n>SF Bonds H World Wide — % 18X8 

wSF Bands 1 1taly Lit 30062X0 

w SF Band* J Belgium BF 020X0 

wSFEa-K North America _3 1460 

iv SF Eo. L WBurone Ecu ISO 

wSF Eq.M Pcriflc Basin Y 1402 

wSF Eq.P Growth Coantrtas 3 1735 

w SF Eo. O Gold Mines S 77X7 

wSF Eq.R World Wide S 14X3 

wSF Short Term SFrcnat—FF 175X150 

m SF Short Term T Eur. Ecu 1531 

SODtnc ASSET MANAGEMENT INC. 

it SAM Brazil — — . — S 596X7 

w SAM Diversified, -S 133X0 

■r SAM/McGarr Hedge 1 11737 

wSAMOpportnatty A 13L33 

nr Sam Oracle— S JIMS 

nr SAM Strategy J 112X3 

mAJp t igSAM . 3 12435 

w GSAM Composite S 324X8 

SR GLOBAL BOND FUND INC 

mClOB A Dtetntmtar 8 

jrCKiss A Accumulator— __ 8 101.93 

SR GLOBAL FUND LTD ... 

mSR European ■■ — — ft 9S34 

mSRAShsi S W429 

mSR imernallowa 1 10L12 

5VENSKA HANDEL3BAHKEHSJL 
l46Bd de la Petrusse. L-2330 LwubtDouiii _ 

ft SHB Band Fund, — S 5448 

nr Svcmka Set. Fd Amer 9i— Jt 1456 

wSverakn Set Fd Germany _S 103 

nrSvensinSeL Fa mn BdShJi 1U1 

w Srmaks 5cL Fd Inri Sh — 3 S5X8 

v Svensko Set. Fd Jason Y ..360 

nr SvqnNB SeL Fd MitMUlkt —Sek 1U56 

nr SremkaSeLFd Nordic — -SEK 10X1* 
w Svensto SeL Fd PocH Sh _J 736 

w Svenska SeL Fd Swed Bds— Sek M28XJ 
SWISS BANK CORF. 

tf SBC 5B0 Inner Fund SF 

tf SBC Equity Ptfl-Aictrotta — A1 
tf SBC Equity Ptei -Canada — CS 

tf SBC Equity Pttl Eurcpe Ecu 

tf SBC Ea Ptfi-Ncihertonas — Fl 
rf SBC Govt BdSS S 

rf SBC Bond PltVAuStr 3 A AS 

ff SBC Bend PHI- Anar 1 B AS 

tf SBC Bond Ptfl-CcnS A —CS 

tf SBC Band Pifl-ConSB XS 

tf SBC Bond PH1-OM A DM 

tf SBC Bond Ptfl-DM B — —DM 
tf SBC Bond PtH-Dfftai G. A— Fl 
tf SBC Bond Pfti- Dutch G. B_F1 

0 SBC Bond PttFEcu A ECU 

tf SBC Bond FTfl-Eai B Ecu 

tf SBC Bond Pffl-FF A FF 

tf SBC Band PHI-FF B FF 

tf SBC Bond P1B-PB5 A/B — Ptas 
tf 5BC Bond Ptfl-SKrlhig A — I 
tf SBC Bond Pttf Sterling B — t 
tf SBC Band PnrttaliO-SF A — SF 

tf SBC Band Porttoeo-SF B SF 

tf SBC Band PNMJ5SA S 

tf SBC Bond PMl-USS B S 

0 SBC Band Ptfl- Yen A Y 

tf 5BC Bond MB- Yen B Y 

tf SBCMMF-AS— —AS 
tfSBCMMF-EFR BF 

tf SBC MMF ■ CfthS— — CS 

tf SBC dm Sbort-Term A DM 

tf SBC DM Short-Term B— DM 
tf SBC MMF - Dutch G. - ... - Ft 

tf SBC MMF - Ecu Ecu 

tf SBC MMF ■ Esc Esc 

0 5ECMMF- FF FF 

0 SBC MMF -Ut Ut 

0 5BC MMF -PICS. Ptg 

tf SBC MMF - Schilling AS 

d SBC MMF -Sterling t 

tf SBC MMF -SF— SF 

tf SBC MMF - US - Dote _* 

tf SBC MMF - USS/II S 

tf SBC MMF - Yen Y 

0 SBC GM-PtflSF Grill SF 

0 SBC Glbi- PHi Ecu Grth Ecu 

0 SBC Gfitl-Ptfi USD Grth S 

0 SBC GlW-PIfl 5F YM A SF 

0 SBC GSSFPtfl SF YM B SF 

tf SBC GW-Ptfl Ecu Yld A Ecu 

0 SBC Glbi- PH) Ecu Ykje — Ecu 
0 SBC GM-Ptfl USD YM A_JI 
0 SBC (MM-Ptfl USD Yld B_JI 

d SBC GW-Ptfl SF (K A SF 

0 sec GM-Pttl 6F Inc B SF 

0 SBC GW-Ptfl ECU IK A ECU 

tf SBCGUftPtfl Ecu Inc B Ecu 

rf SBC Glbi- Ptfl USD Ik A— 3 
tf SBC GUM-PIfl USD Inc B— $ 
tf 5BC GM PtfrDM Growth -DM 

tfSflCGWPKHTMYlda DM 

d 5BC GW PHH3M IK 8 DM 

tf 5BC GMrPIfl DM Bid A/B— DM 
0 SBC GbLPtfl Era Bal A/a -Ecu 
0 SBC GBK-Pffl SFR Bui A/B3F 
0 SBC GtoFPtfl USS Bal A/B J 
tf SBC Emerging Mortem — S 
tf SBC SatoK ft MM Coos 5w_SF 

0 sec Nat. Resource USS S 

tf SBC Dwi Floor CHF *S— — SF 

0 SBC Dm Floor USD 95 s 

0 AmerknVakir , t • 


1 0 &alSPcrTtoH0____— 3 332X5 

l 0 IberlaValcr . . Pto 55907X0 
I rf Itnl Jnlnr I it 400177X0 

S J3tt»h Portfolio Y 2240X0 

1 tf Sterling Bend Selection e 11450 

: ff Sk Foreign Bona SeleclianJSF 11132 

tfS-tosVatar SF 50X5 

[ a Universal Bond Selection _SF 71XS 

' ff Univenoi Fund SF 10»90 

[ tf Yen Bond Setectttn Y IIS6&X0 

! TEMPLETON GLOBAL STRATEGY SICAV 
a Gtobal Growth a A S 11*7 

tf Global Grawtn OB % 9X1 

a dm otohei Growth— DM 11a 

0 Smalm Companies a A — s 12X8 

0 Smaller Cemeautes a B 8 9X7 

1 a hdradr. ft Cammanicatianx 9X9 

1 0 PtaAMhanQA 3 16X7 

j tf Pon-Areertam Cl B— % 9X1 

tf European SF 1038 

1 tf Far EaM S 1237 

e Dana Gateway S 8X9 

1 0 Emerging Markets Cl A_x 1634 

| rf Emerging Markets Cl B S 10X9 

> tf Gtobal Utilities s 9X2 

■ tf Gkbd Convertible i 938 

j 0 Global Bctancea— __ S 9.98 

I a Gtobol Income a a S 1134 

I d Global Income a B s NIX* 

I tf CUM Gktaol Sana DM 10X6 

d Yen Global Bond Y 9*337 

tf Emerg Mkts Fie Ik O A_J 1132 

ff Emero M6K FU im O B-J ».** 

tf US Government S 9.12 

d Haven SF 1037 

ff USS Liquid Reserve 1 HUH 

tf DEM Liquid Reserve DM 10X1 

TEMPLETON WXNDE INVESTMENTS 
GROWTH PORTFOLIO 
tf Class A-1 « 1234 

a class a -2 t 147* 

aacnsA-3 s I42S 

, tf Class Gl t IIX7 

tf dess B-2 s 14x2 

INCOME PORTFOLIO 

ff Ccu A S 938 

rf Dess B 3 9 J2 

THORNTON INVESTMENT MQMT LTD 
33 Queen SlLondon EC*R 1AX 071 346 3000 

tf POOtlnvtFdSAc C 12X9 

tf Pact! inrt Fd SA DM DM 3193 

tf Eastern Crusader Fund S 70.41 

ff Tnor. Util Dragon Fd Ltd J 34.17 

d TtesrrrtanOriemmcFdLWS 25X9 

ff Tftanitan Ttaw Fd Ltd S 49 Jl 

ff Managed Selection s 21x2 

■> Jakarta 5 12X7 

tf Korea - S 16X0 

mAstan Conqueror Warrants^ 193 

NEW TIGER SEI_ FUND 

tf Hong Kano S 40.40 

tf Japan S 15J5 

r Kom— % 8.11 

tf Philippines S 7530 

d Thailand .... S 22.93 

tf Indmesla S '6.97 

tf USS Uqutdlty J HL3 

tf China S 1132 

rf ( mmw e 2334 

mPuisian s pjs 

mSrl Lanka S SJ6 

THORNTON TAIWAN FUND 

tf Eaultv income 1 1433 

tf Equity Growth S 1834 

UEBERSEEBANK ZBrtCh 

rf 5-Fund - SC 1207X6 

tf E- Fund -■ -SF 994.72 

tf J - Fund SF 35135 

d M - Fund SF 1178X3 

d UBZEura-lnamM Fund SF 1043 

d UBZ World income Fund— Ecu sun 

tf UBZ Gold Fund 5 1108 

tf UBZ Nippon Convert SF 1118X9 

tf As» Growth convert SFR _SF 1075.18 

tf Asia Gnnrtti Convert USS— S I04L23 

tf UBZ DM -BOM Fund DM 1D039 

0 UBZ D- Fund— DM 916* 

d UBZ Swiss Eaultv Fund SF 108X9 

0 UBZ American Eq Fund I 9US 

rf UBZ S- Band Fund j 91.17 

d liBZSaulfteastAskild S 88X8 

mUBZ Diversified StToles A -S 101177 

mUBZDimnifM5trgiesBJi 1011X6 

UNION BANCA1RE ASSET MGT (UBAM) 
INTERNATIONAL NASSAU 

■v Ardel Invest S 2328*0 1 

■vAnnkwesl S 864X1 1 

M, Anmflfl - S 1050371 

w Beckinvest S 1278X21 

wBruchnest S 1163321 

W Dtnfutures J 1010X0 1 

wDlnvast 3 2433X8 1 

w Dtnvest Asio S S 987.101 

wDtarest Gold ft Mehta— S 82833 1 

» Dtovesf Indto S 897X8 1 

w CMnvest Inh Fl* Inc Strut _s B56.ni 

w Jog Invest S 1*73X2 1 

w Mart Invest S 1290.95 1 

wMaurinveet s 341402: 

w Mourinvest Comlngtod S BIBX81 

■vMaurtnvesf Ecu Ecu 1555X3: 

v Pulsar S 1846X91 

wPulserorerty S 17BX44: 

w Ouantlnvest S 2341X11 

w Ouantlnvest n s 1330X1 1 

wSWmnvest S 2813X81 

ivTudtavest S 109148 I 

■MiirvliMri s 6)0X2 1 

UNION BANCAIRE ASSET MGT (UBAM) 
INTERNATIONAL LUXEMBOU RG 

iv UBAM S Band - -* 1176X71 

w UBAM DEM Bond DM 1125X11 

iv UBAM Emenring Growth _js 920X4: 

tr UBAM FRF Bond FF SS48 l37i 

w UBAM Germany DM 1029X6: 

IV UBAM Globoi Bend Ecu 14S3S5: 

wUBAMJcPOn Y B32U01 

w UBAM Sterltofl Bond —3 *77X1 

wUBAMSIhPacHftAsto S 186X0] 

iv UBAM US Equities - — J 1005481 

UNION BANK OF SWITZERLAND/ 1 NTRAG 


tf BoreWnwest SF S630V 

0 BfB-Inreet _ , ,9F 132J0y 

tf Qmac — -SF 72X0 v 

tf Oonrert-InvBst— SF 1)410 v 

rf DoOOr-IrrvroLJ 5 104X3 y 

rf Eneretotnvest SF 110X0 Y 

tf Espac SF 15SX0y 

tf Eurtt SF 331X0 v 

tf Fanso SF OTiay 

tfFnmc tf SF 191.00 y 

B Germac SF 237 J8v 

tf Gtobtawst SF lOUD v 

tf GoM-Invtsi ■ ■— — SF 211 JO y 

tf Gukteu-lnvcit Fl 25I3Dy 

rf Hcivei Invest SF *8X8 y 

tf HoltoreHnvest— 5F 334X8 V 

tf I fOC. SF 1Z7J8V 

tf JojKwInvesi : — ,<F 23450 y 

rf PocHic- invest SF 42050 v 

tfSPflt 5F 23C-vlV 

tf Standtaqvtm-lnveil. SF 252J0y 

rf Sterflng-lnyesf — 1 193539 

tf Swfe* Franc-lnvcM SF 1*9.99 y 

tf Stow SF 237 JO 

tf Swlssreo! SF 1WXQ 

tf UBS America Loftao—SF Il530y 

rf UBS America Latino S B4J7y 

tf UBS Asia New Mortun SF 9410 V 

rf UBS Asia New Horizon — _s 7059 y 

tf UBft Small C Europe SF *LMy 

0 UBS Smoil C Europe DM 1 8730 y 

tf UBS Perl inv SFR Ik SF KMJDr 

tf UBS Port Imr SFR Cap G—SF 16130 y 

tf UBS Port Inv Ecu Ik SF 96X0 r 

tf UBS Port Inv Ecu Inc. — —Ecu 5944 y 

0 UBS Port hw ECU Cop G_SF 9B30y 

tf UBS Port Inv Ecu Cap G Ecu 61X0y 

tf UBS Purl law USS Inc S 7336 v 

tf UBSPortlmUSSlK SF 97X0 v 

tf UBS Part Inv USS COP G_5F *7X5 y 
rf UBSPnil UW USSGdpG— A 7126V 

rf UBS (tort liw DM Inc SF 94X0 v 

tf UBS (tart Inv DM Inc DM 111X0 y 

tf UBS Part inv DM Cop G SF 9445 r 

tf UBS Port Inv DM Cap G — DM 11130 v 

rf UBS Port Inv LM hie SF 95X0 v 

tf UBS Port Inv Lb (k Lit 117734X0 y 

d UBS Part inv Ut COP G — SF 92X0 y 

rf UBS Pori Inv Ut Cap G Ut 1H839X0y 

tf UBS Port Inv FF Inc SF lOOXOy 

tf UBS Port Inv FF Inc. FF 4O7X0y 

rf UBS Port Inv FF Cap G SF 9940 y 

rf UBS Port Im FF Cop G. FF «&40y 

tf Vavinvat V tUMISXOy 

tf UBS MM (BV08HI5S * 102434 

0 UB56MA Inveel-CSt — s 414X2 

0 UBS MM Invest-Em —Ecu 53257 

0 UBS MM Inveg-Yen _ ■ Y 101996X8 

tf UBS MM InuesMJI LB 1085939X0 

tf UBS MM IllvesFSFR SF 591625 

tf UBS MM Invest -FF FF S3W.O 

tf UBS MM Ipvesf-HFI R 1 05243 

rf UBS MM Invest-Con S cs 1049x6 

rf U&SMMlnwat-BFR BF 21357X0 

tf UBS Short Ten, I Inv -DM —DM 56tJ1 

tf UBS Bend Inv-Ecu Ecu 15257 

rf UBS Bond Inv-SFR SF 131X9 y 

tf UBS Band Inw-DM DM 103-77 y 

tf UBS Bend Inv-FF FF 1059X6 r 

rf UBS Band inv-CanS. — —CS iklkv 

rf UBS Bond Inv-Lft ~~ . .. Lit 1130751X0 y 

tf UBS BJ-USS Extra Yield— S 9454 y 

Cf UBS Fix Term Inv-SFR tS—SF WJ 5y 

tf UBS Fix Term Inv-DM 916— DM 118X8 V 

tf UBS. Fix Term IihpEcu 96— Ea> 188X5 y 
tf UBS Fix Term btv-FF 96— .FF WBJ2Y 

rf UBS Eq Irrv-Europe A — DM 219.18 V 

tf UBS Ea Inv-Eurape T_ — dm 22S.H r 

rf UBS Eq InwftCftP USA S 109X0 r 

ff UBS Port I Fix IK (SFR) -SF 98X3 y 

tf UBS Porn Fb hie (OM)_DM T88X4V 

tf UBS Portl FU toe (Ecu)— Eai 10158 y 
rf UBS Pori I Fix lK 1US5) — 5 99.98V 

rf UflS Port I RxlK(Lft) Lit H)0883X0y 

tf UBS Porn FU toe IFF) FF 40(33 y 

0 UBS Cap lnvOTS/18 USS S 10L52 y 

tf UBS cop InvWW Germ — DM 12180 y 

WOR LDFOUD MUTUAL FUMK 

tf S Dolly Income —ft 1X8 

a DM DoRy Income DM 1X0 

tf 5 Bond Income S 1755 

0 Non -s Bonds— ■ .... -~s M.10 

tf Gtobal Bondi S 30X6 

rf Gtobal Balanced s HJ7 

0 Gtobal Equities S U28 

d US Conservative Equities— S 1411 

tf US Agmslve Equities S UJO 

d Eurawon E qu U jes- s j^o 

d Natural Remurces S 7X2 

mPF UdoAstoCrawth » u» 

mPFMCft Emerg MktDelU 1388 



m Chilton inn (BVli Ltd. 
w China Vtaton.,..— — ■ 


tf CM US A . . 3 

wCMI investment Fund— S 
nCML Strategic Bd Fd Ltd— S 
mCML Strategic tov Fd L«_S 
mCoHintePS.HgMkw S 

CT) Concorde Inv Fund .5 

! wCorrtvKt Actions toll BF 

1 w Cortivnf Cfttf Beiw CT— BF 
i wConttvOSfObil Worte—— DM 
1 w Convert. Fd Inn A Certs— s 
w Convert. FdinflB Certs — S 
m Craig Dri« S 

w CRM B.TJ*. Fd LM.. — S F 

w CRM Gtobal FflLW S 

wqSiy Asset MAinf Ltd — S 

wCXmberirffitLV. J 

iv Curr. concept MB— — . — -5 
tf awmerwid Wide ivt Tst Jf 

■■.npr . — s 

dDto Sjawn Fwa- Y 

rf DB Argerttna 6d Fd— — — 3 
a DBSC l Nairn Band Fund— 5 

w Derivative Asset Altar S 

w Detector One Lid » 

0 Brayfus America Fjnd — s 

1 DVT Performance Fd s 

mOvnestv F« m d... ; 

w Egs Ovmeos Fuad Lid — * 

me toe Worid Fund LM SF 

m Emerge Capital * 

tf End Beta. Ind. Pto A B F 

tf EmIBfttaL Ind. Plus B BF 

rf Emi France ind. Plus A FF 

tf Emi Franco ind. Plus B — FF 

tf Emi Germ. Ind. Mm A DM 

tf Emi Germ. Ind. Plus B —DM 
tf Emi Newt index Plus A — Fl 
tf Emi Neta. index Plus B —FI 

tf Emi Spain Ina Plus A P» 

0 Emf Spain ind. Phis B Pto 

0 Emi UK Index Plus A c 

tf Emi UK Index Plus 3 ■— 4 

w Espir. Sto Inv. Slh Eur Frf-J 
tf Europe 1*92 ■! 

tf Europe CMtoaflons — Ecu 

iv fjklp. PerKoUa S 

mFatum Fund S 

m Firebird DwetaacS LM— 5 

w First Bogie Fund S 

w First Ecu Ltd Eai 

aiFiret Froniiw Fund — S 

wFL Trust flsto J 

iv FL Trust Switzerland SF 

rf Fond Italic S 

wFOftiuxl Money SF 

w Fori lux 3 - Inti BaM . ■ SF 

w Fenrmilttton V) Inn DM 

tf Fortum* Group Inc 5 

m Future Genermtan Lid - * 

tf Futures Carparotian s 

mFYC inveSraenh Lkt S 

, CEM Genrraltan Ecu a Ecu 

mGEM General wn Lid * 

m Gemini Cars Ltd S 

m Gents Progressive Fd Lid— S 

w General Fund Ltd— -5 

m German Sel Asstxiaies DM 

fflGioraCcKHial Fd DM 

iv Gtobal *3 Fund Ltd S——S 

w Global *4 Fund Lrd SF SF 

nr Gtobal Arttlrrcge Lid SF 

mGlobal Bond Fund 5 

■v Gleaal Futures MgtLM—X 

nr Gawd ■ . S F 

tf GreenLlne France FF 

m Guaranteed Cop. lel rnim M LF 
m Gccror’erd Commodity Fd I 
m Guaranteed Currency Fd— X 

1 Houssmann Hldgs M.V S 

m Hecnrsphere Neuuai Oa 31 J 

w Hestia Fund S 

ft Hlgnbridge Capital Cora — S 

m ibex Holdings Lid SF 

ft ILA-1GB S 

ft ILA-lGF S 

ft ILA-INL S 

iv Imflgo Currency Fd UC S 

m Infinity Investors Lid i 

r Inn Securities Fum Ecu 

w Inter Ms< Min Fd-Mixte DM 

d irrtertuKSA S 

0 Inti Network Invt I 

0 UwesidCWS — — dm 

w Jap ft Great Asian Prow S 

w Japan PoriHc FuM —J) 

ffiJapqn Selection Asses Y 

wKenmar Gtd. Scries 2 i 

wiunmer Guaranteed S 

mKtaoate Global Fd Ltd % 

w KM Gtabat i 

0 K ML - II High Yteu s 

w Korea Growth Trust— — S 

w La Fayette Holdings Ltd S 

b La Fayette Reoutor Growths 

m La Jolta Inr Grth FdLld I 

wLeaf Sleov — ... S 

mLeu Performance Fd S 

iv LF tnternottonol 1 

m London ParttaUo Servkes_S 

mLPS inti H.P.B 5 

m Lux inti MgtFd Ltd s 

mi I .twWmrf « 

m Lvnx SeL Holdings SF 

wM.Ktagdoa onshore, N.V.-S 
mhtaster Cop ft Hedge Fd_— S 

wMotferhorn Offshore Fd. S 

mMeGWiG Global (Newjg)-S 

mMCM InL Limited I 

wMBlentoum Internoflonol— S 

mMJM mternoHonal Ud S 

tf MLPrindpPraiecPkis — 6 

mMomentum GiUid Ltd S 

w Momentum Haveilier Pert_ft 

wMandtovalSknv SF 

inMoni BIok Funds Parti — 1 
m Morrison Spec Grewto D — 6 

m Mom son stock Ind C s 

■rMuilKirlures . - ... -FF 

tf New MlHemtom Fut. Ltd— s 

tf Newbaik Debentures S 

ffiNinetvttiree Mutual Fd NV.Ecu 
mNMT Aston SeL ParitoUo— s 
wNotrie Partners inti Ltd — S 
iv Nava Fin Fd LM-Prap Ser-s 

m NSP FJ.T. Ltd « 

m Ocean Strateotos Limited— 8 
ft otfstwra Stratcgtes Ud— i 

nr Old Ironside Inti Ltd- 6 

in Omega Overarm Partners Jt 
raOppenhcimer U-S-Artt J 

niOptliniim Fund — — . — J 


w Oracle Fund LM- 
mOverlaok Pertormence — — S 
mPncH RIMOppBVIDwcUJ 
mPan Fixed Ik Fd IJm 3U-S 

in PAN internal tonal Ud S 

wPanairri Inc S 

iv Panda Fund Pic S 

ffiPonpipesOfWxjre (Nov 30)1 
m Paragon Fend Limited— 3 

m Parallax Fund Ltd * 

m Peauot infT Fund— — — J 
mPermal UPdvkeUd ■ ■ ■ 9 

Mr Ptnrna/wHealtti S 

w Pturlgesttan Pturtforex FF 

w Ptarignsttaa Plurtvulcur — FF 

w Pturlvesf Sfcnv FF 

m Pambov Overseas Ltd 6 

m Portuguese SmoiterCo S 

mPartuguase Smaller Co a CS 
mPrlma CaXtai Fund Lkt — S 

mPrtmeoFimd s 

, tf ProHrent&A. — DM 

■r Pyramid Inv Fd Cora— X 

tf Reoal mn FintcM s 

m RehCafn Investmenf N.V — 5 

I Rlc GfBtnl Fd LW Cl A S 

w RM Futures Fund Skav S 

w Sottor 1 * Inti Equity Feu 

! w Sol tor's Inti Fixed Ecu 

tf Sanyo Kie. Spain Fd S 

tf sarakreek Holding N.V 5 

w Saturn Fund S 

n> Savoy Flew Ud S 

tf SCI /Tech. SA LuxemboureS 
mSetecta Gtabat Hedge Fd _8 

tf Selective FuL Ptfl Ud S 

w Sinclair Muittfwid Lid s 

w Sintra Fund LM 8 

W SJO Gtobol (609)921-6595 — S 
d Serrilti Barney Wr1dwdSec_S 
tf Smith Baraev Wridwd Spec I 
w SP International SA A Si _S 
» SP Intemnntmat 5A B Sh_S 
m Spectrum DhrareH Fd LM— S 

m Spirit Hedoe Hid 1 

mSPirtl Neutral HM S 

» SteWurdt Cfteas Fd Ud_s 
w SMnhartR ReaUv Trust— 8 
wSrrai Healthcare Inv Fd — I 

mSIrkter Fimd 9 

mSlFanieOtftharaLteL. 5 

tf Sunset Gtobal III Ltd J 

d SfBwrt Global One s 

m Sussex McGctr— . . 8 
w Techno Growth Fund— SF 
tf Tenwietan Gtobal Ik 5 

m The Bridge Fund N.V S 

mThe Gerf-Gta&tf Offshore — S 
tf The instil Mufl I Advisors—* 

aiThe J Fund B.V.I. Ud S 

W The Jcwuor Fund N.V. * 

rf The M-A'R-S Fd 5*cuv A— J 
d The M“A*R*SFd Stow! — DM 

rf The Magus Ecu FdLM Ecu 

tf The Manta USS FdLtd s 

ri The Seychelles Fd Ltd * 

mil* Smart Band Ltd SF 

m The Smart Bond Ltd S 

w Thema M-M Futures— S 

.fllTlawr SOtaC HoM NV Bid S 

ft THC (OTC) Jag. Fd 5knv-S 
ft Tokyo (OTC) Fund Siatv _S 

w Trans Gtobol laviLM s 

tf Transpacific Fund Y 

wTrtmty Futures Fd Ltd S 

m Triumph I — 1 

rn Triumph I V — ...1 

tf Turquoise Fund— 5 
w Tweedy Brawn Inti SFR— -SF 

m Tweedy Browne Inti n.v S 

w Tweedy Browne n.v. a A — s 

rf twenty FlrMId Ltd S 

tf UbaFutures FF 

tf UbaFutures Doflar i 

f utttnu Growth Fd Ud S 

tf Umbrella Debt Fund Ltd — 8 

tf Umbreda Fund LM I 

iv Uni Band Fond Ecu 

w IM Ovltu) AliemiaK DM 

w Uni Cophri Convertibles — Ecu 
w Uni-Gtol FS Svstamaftque _SF 
iv IM-GM Sic F5 Max 3 an -5F 

» UnFGiobai Sicav DEM DM 

<v UnFGtabaJ Stcov Ecu Ecu 

vUnM3laba15icavFRF FF 

w Uat-Giobd Sicnv FS SF 

wUnWSSobqiSienv U5D 6 

tf Unto EouUy Fund DM 

tf Ualcn inv. Fund DM 

wUreus mn Ltd s 


mVeoa Fd Ud Ctasa A 5 

m Victor Futures Fund 5 

m Victory Ctobal FdLM S 

ft Voyager investments Pic—S 
w Vulture L M - — ■ * 

jnWMtesWIUrr inti Fd S 

tf Win Global FdBd. Ptfl Ecu 

tf Win Globoi FdDlyPtn ecu 

tfWto Global FdEa Ptfl Ecu 

tf world Batancsd Fund !LA_S 

wWorM invest Mixed S 

m Worldwide Limited 8 

iv WPG FOrber Oseas Part _J 

raWW Capital Grth Fd LW S 

m Young- ■ — .SF 

mZeoiiyr HtdM Fund. S 

iv Zinnia n*94) LM Y 

mZweto mn LM 5 


For Investment 
Nilormalsovi 
Read 

the MONEY REPORT 
every Saturday 
in the IHT 



, ^ 0 ^mssb!SlBS!SSiS 





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For information on how to list your fund, fax Catherine de VIENNE at (33-1) 46 37 21 33. 





Page 20 



we take w our lime for estimable - geltn touch ww os*. 
pop ftf. gennany: 114 wi.4v.24. 1 AJWr 7 Fu.\: QU.493t.tC 

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Recovery: What the Recession Taught 

Not only management techniques, but the way schools are teaching them, are changing. 


s Europe recovers from recession, executive recruitment Davies, professor of retailing and head of the marketing 

. ■ I 1 1 I 1 ! , Dnrlnoro CnLnAl I.DrifnL, 


is starting to pick up, and the Continent's hard-pressed busi- 
ness schools are. starting to receive more applications for 
courses. The corporate habits acquired during the recession, 
however, seem to have brought about some permanent 
changes in the way business is conducted. 

“We are changing from the technological society to the in- 
telligent society," says Luis Puges. dean of the ESADE busi- 
ness school in Barcelona. ‘This is enormously significant for 
management, since it shifts the emphasis from leaders who 
can impose their will to groups of creative thinkers headed 
by a responsive coordinator.” 

According to Mr. Puges. this movement is equally impor- 
tant for business schools. "We have to change from being 
the dispensers of teaching to [becoming] learning organiza- 
tions," he explains. 


New kinds of training sought 

In addition to cost-cutting, the corporate re-engineering ex- 
ercises of recent years were aimed at making companies 
more responsive to local demand. "In some cases, compa- 
nies merely looked at the downsizing aspect as a way of re- 
ducing expenditures, and did not at the same time consider 
the value of creating possibilities for more flexible struc- 


strategy group at the Manchester Business School in Britain. 
“Contrary to expectations that EDI would open up corporate 
buying and selling, these technologies are tending to Jock 
suppliers and customers into effective informal groupings.” 

gainst this background, European business schools are 
battling to attract the profitable but difficult corporate busi- 
ness created by rapid change in the marketplace. “Every day 
it feels as if the world we knew the day before has van- 
ished,” remarks Bruno Dufour, president of the Lyon Gradu- 
ate Business School and owner of a textile business in 
France's Rhone valley. As part of its efforts to meet this 
challenge, the school has recently joined with three other 
French business schools - ESSEC, EDHEC and ESC 
Nantes Atlanrique - in a project called Mercure. aimed at de- 
veloping multimedia techniques in business education. 

Networking is becoming an increasingly important, 
method for European schools to obtain critical mass. Five 
major French schools - ESCP PARIS, ESC Nice, the Lyon 
Graduate Business School. ESSEC and the HEC group - run 
an international recruitment consortium called the CIAM 
(Centre Internationa] d' Admission aux Etudes de Manage- 
ment). 



The International University of America (IUAJattracts 
European studenis through a permanent center in Fms-Two 
separate schemes involving the Temple University/IGs m 
Philadelphia and the Centre d’ Etudes Franco-Amencain de 
Management (CEFAM) in Lyon provide MBA and BBA 
programs in which students study in both ernes. 


afof the : Euro^pSunSon for Management Develop- OIDING THE RAGS"TO“RlCHES SYNDROME 

mem in Brussels. “As a result, managers have tended to be- AW U iiwivv/x uj 

come more individualistic and task-committed at the cost of Studies have shown that businesses last about 40 years on average before they die or are absorbed. .... 


social cohesion. People are group animals; it is not in their 
nature to live and work in isolation.” 

The rapid nature of change in European management is il- 
lustrated by the shifting demand for executive development 
courses. ‘Though they do not come and tell us this in so 
many words, the board-level people who take part in our 
top-level workshops are no longer looking for the grand 
strategic approach that was needed over the previous five 
years or so," says Leo Murray, chief executive of Cranfield 
Business School in Britain. "What everyone at the top is 
looking for now is ways of working together as teams. It is 
being realized that the costs of dysfunctionality in this area 
can be enormous." 

A major aim of corporate re-engineering has been to split 
up larger businesses into smaller autonomous operating 
units. This trend is leading to a search for informal alliances 
between companies. Combined with the growing use of new 
technologies and EDI techniques in stock-taking and order- 
ing. these moves are reshaping intercompany supplier-cus- 
tomer relationships. 


Reshaping intercompany relationships 
“Manufacturers and distributors like Marks & Spencer are 
streamlining their supply chains by cutting down on the 
number of suppliers they use and concentrating on ‘domesti- 
cated relationships’ that are easier to manage," says Gan- 



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COMMERZBANK 

German Know-How in Global Finance 


If businesses last 40 
years, reasons George 
Taucber, professor at IMD 
Lausanne, they must first 
have been successful. So 
why do they decline and 
what, if anything, can be 
done to prolong their life? 

You believe that success 
automatically produces the 
seeds of decline and poten- 
tial collapse. Can you ex- 
plain why this is? 

Success creates a strong 
tendency to resist change 
and continue with tried-and- 
true methods even when that 
success begins to falter. The 
resistance to change in cor- 
porate structures runs very 
deep. IBM is often cited as 
an example. Top managers 
knew that change was on the 
way. but it was not possible 
for them to act decisively 
until there was an intellectu- 
al acceptance within IBM 
that change was needed. 


What can companies do to 
avoid this trap? 

Let me answer by way of 
an example. The highly suc- 
cessful German engineering 
plastics and pharmaceuticals 
group, Hoechst has strong 
corporate structures going 
back more than 100 years. 
The company recognized 
that it was necessary to 
move to a decentralized unit 
system, but much of the staff 
resisted and the then-chair- 
man was against the change 
as well. He has since retired, 
and a new structure is now 
being put into place rapidly. 
In five to 10 years’ time. 
Hoechst will be a loose fed- 
eration with a small holding 
company at the top. 

This sort of structure en- 
courages the spirit of entre- 
preneurship by allowing the 
individual members of the 
group to run with their own 
projects and compete for 


markets. This idea is very 
difficult for management of 
large centralized groups to 
accept. Administrative logic 
points the opposite way, 
suggesting that synergies 
add savings are obtained by 
organizing common services 
and procedures for the 
whole group. These can be 
calculated mathematically, 
whereas you cannot easily 
calculate the value of entre- 
preneurship to a company. 

How do you create entre- 
preneurs in a large, mature 
business organization? 

One approach is to estab- 
lish what I like to refer to as 
a "skunk works.” 71115 is a 
low-cost operation set up 
outside the main corporate 
structure, stocked with a 
handful of entrepreneurial 
types reporting, say, to the 
chairman. IBM took this ap- 
proach in the early 1980s by 
sending off 200 executives 


Graduate 

Management Studies 
in France 


Five Leading French Grandes E coles 
CERAM Nice - ESC Lyon - ESCP (Paris) 
ESSEC (Paris) - HEC (Paris) 
offer a tw-year graduate programme: ■ 

Master's in Management 


for students holding a first university degree or equivalent 
qualification (all majors). The degree is fully accredited 
by the French Ministry of Education. 


A Comprehensive Programme 


Three Programme Options 


• Core courses in all major functional areas 

• An in-company training period 

• A period of in-depth study or a 
concentration in a specific area of 
management 

• A Business Policy course 


• Management programme in French, 
offered by the five schools 

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• Management programme in English 
(first year) offered by ESCP. ESSEC 
and (HEC International Track) 


Unique Strengths 


• A focus on Europe 

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education 

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community 

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• An excellent student/faculty ratio 


For further information about the programmes and admission procedures , 
please write for a brochure to: 


Polonia HEBERT - CIAM/French Graduate 
Management Admissions Board 
1, rue.de la Liberation - 78351 Jouy-en-Josas, Cedex 

FRANCE 

Tel: (33-1) 39 67 73 60 


and technicians to Florida' 
with a budget of about $200 
million and instructions to 
design a winning PC. , 

Large, successful organi- 
zations need to develop dital 
strategies that will allow, 
them to maintain their exist- 
ing business,; yet go off .in _ 
new directions at the same 
time.' You irright think that 
one way to achieve this 
would be. to form strategic, 
alliances between different 
companies. 

.. Unfortunately ■ joint ven- . 
tures and other looser forms, 
of cooperation usually re- 
veal that it is impossible to . 
maintain the necessary bal- 
ance of benefits for very . 
long. 

Also, companies have .to 
accept competition between - 
different enterprises within - 
the group. Moreover, to.bfc. 
fast and flexible, they have 
to allow their people to 
make^nistakes. . ... • 

What role does the board 
of directors play? 

Board members - particu- 
larly nonexecutive directors 
- can be extremely effective 
agents of change. This ap- 
plies particularly to the Unit- 
ed States, where there is a 
dynamic capital market. It is 
much less the case in Eu- 
rope, though. Ownership 
structures in countries such 
as France and Germany can 
make dynamic change ex- 
ceedingly difficult. 

Can European businesses 
learn anything from the . 
Japanese practice? 

An important factor favor- 
ing change in Japan is that 
managers as a whole are not 
in love with their existing 
products the way Western 
companies sometimes are. ; 
TTius they do not hesitate to 
kill the cash cow early on 
and devote the necessary re- 
sources to new technologies. 
Moreover, the Japanese sys- 
tem of loose conglomerates 
seems to avoid the success- 
to-failure syndrome by com- 
bining the advantages of size 
with the benefits of small, 
dedicated organizations. 

Does all this ha\’e an v rel- 
evance to the wav business 
schools like IMD run their 
own operations ? 

Yes. definitely. Here we 
are. sitting in these splendid 
buddings designed for com- 
panies to send their people 
here for courses, whereas 
what they want nowadays is 
for us to go out to them. 
Maybe we business profes- 
sors should convert our- 
selves into roving bands of 
entrepreneurs, going from 
place to place wherever we 

are needed. 


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The Intuittve Way 

!t CQn * * trifled, but it's gaining ground. 


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“Euromanagers” 

was produced in its entirety by the Advertising Department 
of the International Herald Tribune. 

Writer: Paris-based Michael Rowe writes 
frequently about education. 

Program director: Bill Mohder. 


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Page 21 


SPONSORED SECTION' 



iJtGERS FORUM 




draw his vZES TT Pnbto'y not stay long enough to 
styles of the I97fk aSi ■oA c W - ct!on to lhe number-crunching 
wSStSL'SS^ and ^ ,mumon « in fashion as ! 

Mintzberg tecn!Je ™ an ?2 emem professor Henry 

ss LrsiiTss 

managers ^ined in iraditional finance can be 

S^fdrich w°f h *' growth opportunities 10 go for" 
Neubauer. a professor at IMD in Lausanne. 
m!!™.?.,!? 905 ’ the questions involved are quiie different. 

nessKMd'JSi:; 11 ^ l ° fl " d Ways of revilali zin S their busi- 
^ & new Onen ^*ons. These maitere are basi- 
cally mtuinve in nature. 

On beyond reason 

Theane are vtuious definitions ofintuition. Generally, it is tak- 

SST * 1116 power . of framed iate or instinctive knowl- 
edge witnorn recourse to invesiigaiion or reasoning. Justify- 
ing its use m management, commentators like to recall 
Jung s remark that intuition docs not denote something con- 
trary to reason, but rather something outside the province of 
reason. *■ 

In a new book entitled "Intuition, the New Frontier of 
Management." Indian business leader Jagdish Parikh (in col- 
laboration with Friedrich Ncubauer and Aidcn Lank, both 
nyiD business professors), distinguishes intuition from qual- 
ities such as instinct, ingenuity and inspiration. 

"Some people just seem to have a gift, for making the right 
decision at the right time, almost as if they had a wizard with 
predictive powers on the payroll," the authors comment in 
their book, which is published by Blackwell. 

They also point out that there is no way to distinguish 
clearly between intuition and wishful thinking. They suggest 
that the former is imbued with a sense of certainty and an ab- 
sence of self-motivation, whereas the latter is the manifesta- 
tion of the self in search of satisfaction. 

Hard results 

AH this may sound very abstract, but the results can be emi- 
nently practical. After Nestle' bought Carnation in the mid- 
1980s. for example, the executive responsible was asked 
how much investigation had been carried out before the de- 
cision was made. He replied that Nestle had watched the sit- 
uation closely for some time and had gathered as much in- 
formation as was possible from the outside. 

It was not possible to find out everything in this way, how- 
ever. and if Nestld had been too intrusive the markets might 
have gotten wind of its interest, and Carnation’s share price 
rocketed. Accordingly, an intuitive feeling for the rightness 
of the purchase played a key role in the decision. 

"Intuition can be an important element in a management 
team helping the company to be more innovative and flexi- 
ble and thus more effective," says Roland Calori, professor 
of strategy at the Lyon Graduate Business School. "It is also 
important to include managers with complementary skills 
and qualities such as financing and marketing abilities." 

But can it be taught? 

Nowadays, personality tests used by recruitment firms often 
try to determine factors closely linked to intuition, such as 
the candidate’s creativity. In addition, development courses 
for top managers offered by major European business 
schools place emphasis on related qualities when examining 
matters such as successful teamwork. 

An intuitive management style is commonly said to play a 
big role in successful contemporary businesses such as 
Richard Branson’s Virgin group. Benetton in Italy and the 
Swedish Dcea. The French hotel and leisure group Accor opt- 
ed for the best of both worlds by appointing a top manage- 
ment duo with complementary qualities. 

“We use case studies involving innovative businesses in 
several of our courses," says Mr. Calori. “These help to 
show that not everything in the life of an enterprise is fore- 
seeable and that pure rationality has its limits." 


The seventh Euromanagcrs/Eu - 
rengineers Forum taking place in 
Brussels Dec.15-16 is playing host to 
140 recruiters, 30 multinational cor- 
porations and 670 rectmtincrtt candi- 
dates selected from more than 4,400 
applications. The event’s organizers - 
the Brussels-based EMDS ~ estimate 
that some 2,000 interviews will be 
conducted over the two days. 

Recently described as the leading 

recruitment lair m.Europe, the forum 
is based on. a strict selection proce- 
dure; it aims at Thatching high-caliber 
international graduates and young ex- 
ecutives with major international cor- 
porations. This year’s event is spon- 


sored by bi^ organizations, indud- 
ingCommerztsmk and RWE. 

EMDS is a pefsonncl-ntfHJagement 
consultancy specializing in the inter- 
nadonal recroranent.of graduates anti 
young, professionals. Top comparaes 
that have recruited at the forum in- 
clude McKiosey.BPOil, 3M .Procter 

& Gamble, Hewlett-Packard and ibe 
Swiss Bank Corporation. 

“By taking advantage of services 
and events organized by expert per- 
sonnel consultants, human-resources 
managers can interview a predefined 
group of international candidates," 
say the organizers. ^At the same time, 
companies can raise their profile and 


market tiatir image among their target 
.group." 

Moreover, the forum gives the 
young, ambitious graduates selected 
from the applicants the opportunity to 
find out what companies have to offer 
m terms of intenrational careers, re- 
sponsibility, challenges and opportu- 
nities. “Direct contact with the repre- 
sentatives of companies permits the 
extensive exchange of information 
both formally and informally ” ac- 
centing ro HMDS. "By communicat- 
ing with other participants, graduates 
can also assess themselves in terms of 
their counterparts from other coun- 
tries." 


The Many Languages of Business 

As business becomes more cross-cultural, language skills and teaching are receiving closer attention. 


IFAM 

THE BEST WAY FOR THE M.B.A. 

Since 1982. the tnstitut Franco- American de Management 
(IFAM) prepares students with its 4*year program (or an MSA 
diploma from a major American university and me IFAM diploma. 

in additon to IF AM's associate universities. University of Hartford. 
Norm-eastern University m Boston, Pace University in New York, 
Temple University in Philadelphia, where students study m theft 
3rd or 4th year. IFAM also maintains privileged ties with presti- 
gious Amencan graduate schools. IFAM students, therefore, 
complete their MBA at the University of Pennsylvania (Wharton). 
University of Chicago. Indiana U . University of Wisconsin. Duke 
U.. George Washington U.. Mac Gill U 
In 1986. IFAM'a rapid development led to the creation ot the 
program, mba University, in association with top American busi- 
ness schools, this program otter a i-year MBA to university 
graduates and executives 




JNSTITUT FRANCO- AMERICA1N DE MANAGEMENT 

Eiaoiissement a'enseignemeni supfineur pnv*. 

19, rue cepre - 75015 Par i*-F ranee. 

Tet 33 (1 ) 47.34.38 23 - Fax: 33 (1 ) 47.05.74.75 


An a cosi-conscious cli- 
mate, businesses are eager to 
target their language training 
resources to obtain immedi- 
ate returns. 

"Nowadays, there is less 
emphasis on organic ng gen- 
eral language courses to 
keep the unions happy, and 
much more stress on inten- 
sive sessions for key people 
who need the training," 
comments Gill Hopkin, who 
runs a small language school 
called York in Madrid. 

Reckons Andrew Kak- 
abadse of the Cranfield 
School of Management in 
Britain: “Companies send- 
ing personnel abroad to do a 
specific job for a period of 
time want them to concen- 
trate on that rather than be- 


coming expert in the local 
language." 

Anne-Marie Chilton, di- 
rector-general of the Ecole 
Nickerson language school 
in Paris, says she has noted a 
marked decrease in business 
demand for Frcnch-lan- 
guage teaching over the last 
few years. “Businessmen in 
a hurry - particularly Ameri- 
cans - expect English to be 
spoken," she says. 

Yet many European man- 
agement jobs nowadays car- 
ry a language requirement. 
For example, RWE - a Ger- 
man-based international en- 
ergy and technology group - 
is seeking recruits at this 
year's Euromanagers Fo- 
rum. "Most vacancies are in 
Germany, so German is re- 


quired," says RWE's direc- 
tor, Manfred Selke. The 
sharp rise in interest in Ger- 
man language study is re- 
flected in Germany's being 
the "host country" of this 
year's Expolangues show, 
being held in Paris's Grande 
Halle de la Vifletle Jan. 27- 
Ffeb. 1, 1995. 

Some schools develop a 
specific teaching method as 
a way of positioning them- 
selves in the market. For ex- 
ample, CERAN in Belgium 
franchises independent 
schools in other countries to 
apply its method - for exam- 
ple the recently established 
Granada Lingua in Spain. 

Universities are also de- 
veloping special language 
courses for business. One 


French example is the Cen- 
tre Universitaire d' Eludes 
Fran^aiscs, attached to the 
Universite Stendhal Greno- 
ble III. it offers a selection of 
intensive courses in French 
language, culture and busi- 
ness. 

-According to figures col- 
lated by the EFMD. around 
one-third of European busi- 
ness schools provide lan- 
guage-training facilities. 
“We provide instruction in 
15 foreign languages and are 
also involved in English 
teaching for foreign man- 
agers, especially from Euro- 
pean countries and Asia." 
says Mohamed Djeddour. 
director of the language cen- 
ter at Manchester Business 
School. 


Finding a Job Gets Somewhat Easier 

Britain is showing the most demand for top managers . but job offers are growing throughout Europe. 

E, 


rurope is hardly seeing 
the type of euphoria now re- 
ported on top U.S. campus- 
es, where businesses have 
been competing to provide 
the most lavish receptions 
for recruits. European busi- 
ness schools, however, are 
reporting that this year's 
graduates have been finding 
it less difficult to obtain jobs. 
Consultancies and banking - 
traditionally the two most 
eager seekers of MBA grad- 
uates - are in many cases 
showing interest again. 

"We can see this pattern 
across Europe, and it is also 
reflected in our own school,” 
comments Bonnie Moy, di- 
rector of career planning at 
the Rotterdam School of 
Management 

A similar tale can be heard 
at Institut Supdrieur des Af- 


faires (ISA) at Jouy-en-Josas 
near Paris. Figures for ISA’s 
1994 class, which graduated 
in June, show 2 1 .6 percent 
of graduates placed going 
into auditing and consultan- 
cy. followed closely by fi- 
nance and banking, which 
took 19 percent The health 
sector ( 1 2.5 percent) was the 
next most important 

Most graduates get jobs 
"The manufacturing indus- 
try is still underrepresented 
among recruiting compa- 
nies," comments Eleanor 
McGrath, ISA’s career-de- 
velopment officer. Joe 
Goidiamond, associate dean 
of the Graham School of 
Management (St. Xavier 
University) in Paris, states 
that by July nearly all gradu- 
ates from the school's small. 


full-time MBA program had 
obtained jobs and that the 
average starting salary was 
almost 400,000 French 
francs ($74,500) per year. 

"World ng on internships 
during the course is one im- 
portant means of finding a 
prospective employer, while 
over the last five years we 
have also developed our 
alumni network as a way of 
providing job contacts for 
our graduates," Ms. Moy 


says. “One of our major 
aims is to prepare students to 
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INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 15, 1994 


SPORTS 


r 


>4 


Despite Another Long Day. 
Baseball Still Stuck on 'No’ 



Moe and U*S. Skiers 


RYE BROOK, New York — 
The striking major league base- 
ball players and the owners 
were meeting again Wednes- 
day, with the union expected to 
make a new offer, according to 
a member of management, and 
the owners stOl threatening to 
impose a salary cap on Thurs- 
day. 

During a 15 Vi-hour period 
thai didn't end until just after 2 
o’clock Wednesday morning, 
the sides met three times, with 
the union rejecting manage- 
ment’s tax plan of Sunday as 
essentially a salary cap, then 
making a major proposal of its 
own that was turned down. 

It had been speculated for 
months that if the players 
agreed to eliminate salary arbi- 
tration, the owners would drop 
their demand for a salary cap 
and the labor dispute would fc* 
history. 

That premise was proved 
wrong during the day when the 
players offered to exchange sal- 
ary arbitration for earlier, unre- 
stricted free agency. 

According to people on the 
players’ side, the owners reject- 
ed the offer. 

“They said they needed a 
guaranteed reduction of sala- 
ries and that didn't give it to 
them,*' one person said. 

“They’ve always talked about 
cost certainty, but that's the 
first time they’ve acknowledged 
that.” 

The owners' negotiators long 
have talked of wanting to place 
a “drag” on salaries and allocat- 
ing 50 percent of their revenue 
for player costs instead of the 


58 percent that was projected 
for a complete 1994 season. 

But the owners* talk of a 
guaranteed reduction, the 
union people said, showed them 
that that has been their aim all 
along, and that nothing else the 
players proposed in these talks 
mattered. 

No management person 
would discuss the players' offer 
or the owners’ rejection. 

The two sides labored 
through the day, meeting joint- 
ly for two hours, then breaking 
into separate caucuses for 
about three hours and recon- 
vening late in the afternoon 
with reduced bargaining teams 
and meeting for two and a half 
hours before adjourning for 
dinner, then until early in 
the morning. 

They had been expected to 
break off talks earlier in the 
day, with the union’s rejection 
of the counterproposal the own- 
ers presented Sunday, but Bill 
Usery Jr., the mediator, kept 
the negotiators going. 

The union did not formally 
reject the clubs’ new tax pro- 
posal, but the players made 
their strong negative feelings 
about it known. They then 
made the offer to elimin ate sal- 
ary arbitration, an idea the 
players had discussed and re- 
jected at an executive board 
meeting in Atlanta last week 
but kept in their bag of bargain- 


ing tncks for a posable last- 
minute attempt to bring the two 
sides close to a settlement of the 
strike that is in its fifth month. 

The players said they would 
give up salary arbitration in ex- 
change for unrestricted free 


agency for players with three or 
more years of major league ser- 
vice. Free agency eligibility cur- 
rently is six years. 

In making the offer, the play- 
ers borrowed from a recom- 
mendation of the joint econom- 
ic study committee two years 
ago. 

“We have not agreed." the 
committee said in its report, “to 
recommend any changes in the 
rules governing player compen- 
sation other than the reduction 
in the service requirement for 
free agency from six to three 
years-" 

That change would eliminate 
salary arbitration because that 
is a procedure basically for 
players with three to six years of 
maj or league service. Arbitra- 
tion, which was created in the 
1973 negotiations and initiated 
before the 1974 season, has be- 
come the bane of club payrolls. 
The clubs have hated arbitra- 
tion more than free agency be- 
cause the salaries are decided 
by an arbitrator and thus the 
clubs cannot control them. 

The players long have resist- 
ed relinquishing arbitration, 
which gave them their first bar- 
gaining leverage three years be- 
fore free agency. 

The players learned Tuesday 
that however the owners fed 
about arbitration, they don't 
want to kill it at the expense of 
not gaining the salary cap or 


luxury tax on payrolls they 
want When the 28 club owners 


want When the 28 club owners 
meet in Chicago Thursday, they 
are expected to declare an im- 
passe in negotiations and im- 
pose a cap. (NYT. API 



By Christopher Clarey 

‘ New York Tima Service 

VAL DTSERE, France — 
little more than a year ago. 
Tommy Moefmished third in a 
super-giant slalom in Val d’ls- 
fcre. It was his first time on the 
podium in. the super-C and 
cause for whoops, hollers and 
an evening of celebration. 

Sunday, in . the . neighboring 


wasn't easy," said Ucli Luthi, 
the assistant downhill coach. 


'Everybody in the world wast- 
lit CATnP little thjnfi from ann. 


ed some tittle thing from mm. 

‘ Add it all op and it became one • 


big thing. be -no 




M. 




Esseeg Crcroa'Agcncc Fraser ftmt 

POPGUN — Guard Walter Bond floored BJ. Armstrong with his shot but die Bulls’ 
Scottie Pippen. left, who finished with 31 points, flattened the visiting Pistons, 98-78. 


Martin, Courier Named to U.S. Team 




. -- - %*: : — 


NEW YORK (NYT) — The U.S. Davis Cup team's captain, 
om GuUikson, announced that he has selected 10th- ranked Todd 


Tom GuUikson, announced that he has selected 10th- ranked Todd 
Martin and 13th-ranked Jim Courier as his singles players against 
France in the first round of the 1995 competition. 


NBA Standings 


Neither the top-ranked Pete Sampras, who intends to be de- 
fending his Australian Open title four days before Davis Cup 
matches get under way on Feb.3. nor No. 2 Andre Agassi, who 
informed GuUikson he wouldn’t be available until the semifinal 
round in September, wished to commit to first-round action. The 
doubles team is to be named later. 


Orlando 
New York 
Boston 

PtiltadelpniQ 

New Jersey 
Washington 
Miami 


For the Record 


David Coufthard, 23, the Formula One driver from Scotland, is 
contracted to drive for Williams next season, not McLaren, the 
Contract Recognition Board ruled. (AP) 

Fordham, a member of the Patriot League since the 1990-91 
season, is leaving to join the Atlantic 10 Conference, effective next 
July I. (AP) 

Evander HoJyfieW, the two-time heavyweight champion, is to 
make his return to the ring March 25 in Beijing against former 
WBA champion Mike Weaver. (AP) 

Lee Smith, the free-agent reliever who is major league baseball’s 
career saves leader, agreed with the California Angels on a $4 
milli on, two-year contract; he pitched last season for the Balti- 
more Orioles. (AP) 

Dairy! Strawberry, the baseball player charged with federal tax 
evasion, pleaded not guilty at his arraignment and was released on 
his own recognizance. (AP) 

Alberto Tomba had a badly bruised rib, injured when he fell 
warming up before his victory at Sestriere on Monday night, but is 
expected to start in the giant slalom at Val d’lsftre on Sunday, die 
Italian federation said. (AP) 


Indiana 

Cfovrtand 

Qnrfotte 

Chicago 

a Manta 

Detroit 

Milwaukee 


EASTERN CONFERENCE 
Attaatlc Dtvtataa 

W L Pet 

15 4 JK 

k IT 7 All 

* IT AS0 

pnk> 8 n j<2i 

sev 9 11 A9 

ton 111 JS 

5 13 .278 

Central DivUaa 

n s Mt 

*t 13 ■ M0 

r 10 9 -S?6 

UP -S2A 
9 J1 A50 

8 11 A21 

ee ill Hi 


Mthmskee 23 M W 25—181 

Cbariatta S3 28 M 3*— i«7 

M: RoMnson 8-17 8-6 2i Baker 9-T7 1-5 19; C: 
Hawkins 8-11 6-6 72. Moumbv 5-7 10-10 2a 
Rsbooads— Milwaukee 49 (Pinckney 10). 
Cnartolto « (Parish o). Assists— Milwaukee 
18 (Murdock 8). Charlotte 30 (Bowes ID. 
MMsesafa 17 18 2* U 6—83 

Atlanta II It li X MS 

M: Rider 9-14 44 73. West 9-17 00 IB; A: 
Blaylock 0-17 3-2 19. Lana 58 2-2 1Z Re- 
bounds— Minnesota 44 (Loettnern). Atlanta 
59 (Lone II}. Assists— Minnesota 21 (Garland 
9). Atlanta 21 (Blaylock 6). 
to dlwo 24 n 35 14—82 

ClevelOBd 22 24 SB 24—98 

I: D-Dovfc 7-13 2-2 16. Stalls 9-15 B-10 26; C: 
Mills 5-10 4-4 17. J.Wllllams 5* 5-6 IS. R* 
OooDds — Indiana 42 (DOsvta 12). Cleveland 
55 (Hill 8). Assists— Indiana IV (Jocksoa 6i. 
Cleveland 18 (Price 11). 


State 45 (Seflcaty 12). Assists— Socromenta 31 
(Richmond 9), Golden Stale 27 (Hardaway 7). 


Major College Scores 


WESTERN CONFERENCE 
Midwest Dtvtsion 

W L PU GB 
Houston 13 6 JAi — 

Utah 12 8 JM lbs 

Denver 10 7 588 2 

Dallas 9 6 529 3 

San Antonio 9 9 500 3ft 

Minnesota 3 16 .158 10 

PndBcDtWstoe 

Phoenix 14 5 J37 — 

Seattle 12 6 547 1ft 

LA Lakers 12 7 532 2 

Sacramento 11 8 579 3 

Portland 9 8 529 4 

Golden State 8 12 500 6ft 


l_A. Lakers 33 25 27 30-115 

Danas 24 31 29 23-188 

L: Van Exd 12-243-335. EJones 7-14 *4 19; 
D: Mashburn 12-207-1832. P-Janes 10-13 1-221. 
Jackson 12-18 2-2 28. Refcoands— Los Angles 
41 (CebaUos 10). Dallas 52 (Moshtaum. 
P Janes ll). Assists — Lm Arnrates 22 ivon 
Exd 10). Du Has 29 (Kidd 8). 

Detroit 17 M 28 19-78 

Chicago Zt 14 21 33-98 

D: Mills 7-18 2-5 16. Damon 5-14 5-4 16; C: 
Pippen 11-18 50 31. Kvkoc 10-15 5-7 21. Re- 
bo endi Oefraff 46 (Mills HI. Chicago 56 
(Perdue 9). Assists— Detroit 19 (Darners 5), 
Chicago 22 (Kerr 4). 


EAST 

Fairfield 64. Mcnmoutn. Nj. 48 
Horv ar d SB. Dartmouth 55 
Rider 81 SL Peters 71 
Rutgers 87. Bucfcnefl 72 
Setan Hall 101 Columbia 56 
SOUTH 

Gecrota Southern 95. Valdosta St. 66 
NlchoUs St. 107. SE Louisiana 87 
MIDWEST 

Cincinnati 91. Minnesota 88. OT 
KL-Chlcaco la NE Illinois 74 
Northwestern 71. Youngstown SL 62 
Ohio U. 91 Wrlghl St. 56 
Penn 61 Michigan 60 

SOUTHWEST 

Arkansas St. 77. Tenn. -Mart in 72 
FAR WEST 

Boise St. 66. Cal Paiy-SLO 35 
Santa Clara 88. Oregon 83 


9 8 529 

8 12 500 


7 17 .KB 12 


TUESDAY’S RESULTS 
Miami 21 18 22 29- 90 

Philadelphia 27 2f 34 25— its 

M; Rice 1640 1-3 25. Coles 0-13 00 17; P: 
Barm 6-10 3-4 17. Burton 12-19 34-28 51 Rt- 
boaad»— Miami 44 (WI His 15). Philadelphia 62 
(WIH lama 13). Assists— Miami 24 (Coles 12). 
Philadelphia 11 (Burras. Burton 3). 


W nddn e h m 19 19 21 26-M 

1 1 B urto n 38 17 28 18-93 

W: Webber 9-234-6 22, Stales 4-10 64 16; H: 
Thorpe MM5 7-15 27. Okrtumjn 6-39 3-4 IP. Re- 
bounds— Washington 53 (Webber 16 1 . Houston 
59 (Thome. OJaluwon 14). Assists— Washing- 
tan 13 (Stales 5), Houston 25 (Maxwell. Smith 
7). 

Socr om enta 27 23 28 36-113 

OofcNn State 25 71 21 30— M7 

S: Poivnlce 8-10 4-6 21 Richmond 10-16 6-9 
29; G: Hardaway 8-1 6 5-7 21 Rooens»-IOU 14. 


ITALIAN CUP 
Qaarterftnat Second Leg 
Foggla Z Inter Milan 0 
Fooata wins 2-1 on a ggreg ate . 

FA CUP 

Second Rovd Reolayi 
Fulham I, Gillingham 2 
Mansfield 2. Halifax 1 
Taruuay 0. Enfield 1 
Walsall 4. Preston 0 


CALIFORNIA— Agreed to terras with Lee 
Smith. pltctier.an2-ygar contract. Designated 
Bab Patterson, pitcher, tor asdamnenL 

CLEVELAND— Signed Alvaro EsXnoza 
sn or t s to p, to 1-ra* contract and Tony Pena, 
catrtier. to mino r leag u e con tr a ct . 

KANSAS CITY— Stoned Gary Goefti and 
Ketth Miner. Lrdloldm. to minor league con- 
tracts. 

SEATTLE — Signed Lee Guettennan nitch- 
er.and Marty Pevey. aatdier. to minor -ieogue 

TEXAS— Signed Kevin Gross, pitcher. M 
Mark McLmtott. InfieJder-ewt fielder, to two- 
year c o ntr a cts. 

National League 

FLORIDA— Announced that Brian Barnes. 
Pitcher, hes refused outrfonr assignment to 
Charlotte. IL and elected free agency. 

MONTREAL— Exteoded ttw contract of 
Felloe Aloe, man ager, through ftw 1957 sea- 
son. 

NEW YORK— Signed Jesse Crass. Pitcher, 
and Derek Lee. outfielder. 

BASKETBALL 

National Basketball Association 

CHICAGO— Activated Carte B fount, for- 
ward, tram the in lured IIS. 

COLLEGE 

ALABAMA-BI RM INGHAM— Announced 
that Jim Hilver. football coach, will resign to 
become assistant athletic director. 

COLUMBIA — Announced the resignation of 
Sean Couch, men's assistant basketball 
coach. Named Buck Jenkins nml interim 
assistant basketball coach. 




BOSTON— Aoiul red Terry StmmPsrL In- 
Welder, (ram Kansas City for a plover to be 
named. Signed Jed Johnston, pitcher, to mi- 
nor- lea g u e contract. 


FINAL TEST 

West todies vs. India, Fifth day 
Wednesday, Chandigarh, India 
India Second innings 11*9 (innings closed) 
Result: West Indies won br 243 runs. 
MANDELA TROPHY ONE DAY MATCH 
New Zealand vs. Pakistan 
Tuesday, to Port Elizabeth 
New Zealand hernias: 201 { all aotl 
Pakistan innings: 206-5 
Result: Pakistan won by 5 wickets. 


in his first race of the 1994-95 
WorldCup season. This time he 
finished second m a snper-G, 
but there were no whoops and 
■nnthing that qualified as a gen- 
uine holler — only a raised fist 
and a grin that was nine parts 
satisfaction and one part relief. 

“I guess it’s kind of old hat 
forme now” Moe said. ' 

Success is indeed beginning 
to seem more the role than the 
exception for American skiers. 
Ten months after they won two 
golds and two silver medals in 
Alpine events at the Winter 
Olympics in Norway, they have 
come roaring out of the starting 
gates on two continents tins 
season, putting a summary end. 
to any further debate about 
whether their performance in 
February was a fluke. 

The American women have 
led the way in North America, 
getting off to their best World 
Cup start ever by winning three 
of the first eight events and re- 
cording six outer top 10 finish- 
es, all in speed events. 

The Olympic silver medalists 
Hilary lindh and Picabo Street 
have been at the top of the 
pecking order. Lmrih has won 
two do wnhills and f inish ed sec- 
ond in the other behind Street. 

Street, who took silver in the 
downhill in T.ittehammer , Nor- 
way, also reached the podium 
Sunday in Lake Louise, Cana- 
da, by finishing third in the su- 
per-G. It was her best result 
ever in that event. 

“We’ve been watching it all 
on TV in Europe and cheering 
them on,” Moe said. “We’ve 
been sending them some con- 
gratulatory faxes.” 

After their performance in 
Tignes, the American men are 
in line for some faxes of their 
own. Although mfld tempera- 
tures and the lack of snow in 
Europe forced World Cup orga- 
nizers to cancel or reschedule 
the first four speed events, Moe 
and his teammates finally got to 
compete Sunday. 

Moe, an affable Alaskan, 
kissed anonymity goodbye in 
Lfllehammer by w inning a gold 
medal in the downhill and a 
silver in the super-G. But he 
appears to have avoided letting 
his fame victimize his skiing as 
was the case for BID Johnson, 
who declined rapidly after he 
became the first American man 
to win an Olympic downhill, in f 
1984. 


“Ton a bocks 

here ot there- I think be saw 
that it was worth it on Sunday. 

More rewards could soon be 
forthcoming if Moe and his 
teamma tes Kyle Rasmussen 
and A. J. Kittfive tip to expec- 
tations this week in Val d*Isere, 
where the first two men’s down- 
hill events of the season are 
scheduled for Friday and Satur- 
day. Rasmussen . finished an en- 
couraging ninth last Sunday in 
the super-G. 


“My next goal is tip win a 

World Cup downhffl/* «tid 


Moe, whose best previous cup 
finish in the downhill .was- sec- 


finish in the downhill was sec- 
ond at Whistler Mountain in . 
1993. 

“I think I can do it this sea- - i 
«n “With the race I 


son,” he added. “With the race I ^ 
had on Sunday, maybe it will be - !. 
this weekend. I’m feeling strong 
and fit, and I'm havmg fun, 
which is really inmortant_ be- 
cause in this sport, if you're hot . 
careful, you can kind of get 
caught op in some things that 
eat away at you." 

Moe has had some difficul- 
ties with the business end of his 
career. Unlike most athletes of 
his stature, he derided against 
signing with the coipOrate-types 
at the International Manage- 
ment Group or ProServ and ul- 
timately hired his father’s 
brother-in-law, Shane Johnson, 
as his agent. 

Johnson took command of 
Moe Meatum, the company 
Moe setup after the Olympics, 
and moved it to Jackson Hole, 
Wyoming. But Woe’s father 
and Johnson had a faDmg om 
during the summer. ■ ~ : 

‘Tve made a couple of mis- 
takes, putting trust m people," 
Moe said. “Shane was a good 
buddy of mine, but he was the 
wrong person for that job at 
that time." •- . .. 

Moe is now without an agent 
and without a major sponsor- ~ 
ship deal outride the ski indus- 
try. Although he has hired 


i V 1 C~ - ' 

V 


0th 


hr Ben 


I£r 

Is:-"- - ■ ' . 

ii* ,; ’• • 

- 

ass^i- • 


someone to coordinate his burf, 
ness affairs until the rirrine, m 


ness affairs until the spring, 2e 
has negotiated several of his 
own deals with sponsors. 

“Racing is fun; business is 
the hard part," said Moe. “I 
don't have any milli on -dollar 
contract. What Fve got are a lot 
of five-figure contracts, but itis 
already more money than I ever 
thought I would make. And if I 
continue to rid well this year, I 
can still profit” - 

So far so good. Not only for 
Moe but for a lot of other 
Americans on rids. 


p s '■ 

sea - :: ■ 
•»?!-. \ V 


jxal ’ 
k r. 

fcisTii.* . 

i’iT.'.'sr — 

kx rr ... 


Despite rqxnts to the con- 
trary, Moe did not miss a single 
off-season or preseason train- 
ing camp and even attended an 
optional 10-day camp in May. 

“He fulfilled everything 100 
percent, and I can tell you it 


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SPORTS 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 15, 1994 


Page 23 


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Israel and Romania Tie in European Qualifier 


tumpdalh, (tor Stuff Fran Diyauhr. 

Touenham striker Roni Rosenthal 
scored with seven minutes left to play. 


O Israel a surprising 1-1 draw with 
! Cup quarierfinalist R 
Championship 


European 
match We 


Ian Rush and Wales were manhandled, 3-0, by Zlatko Lankov and the Bulgarian team. 


juarierfmalisi Romania in a 
qualifying 

Wednesday in Tel Aviv. 

Romania, using with much of its 
World Cup squad, scored in the 69th 
minute when Marius Lacatus got a pass 
from midfielder Ion Vladoiu and lobbed 
the ball over goalkeeper Boni Ginzburg. 

After Rosenthal tied the score, Nir 
Klinger preserved the draw in the 86ih 
minute by clearing away a shot by Vla- 
doiu that had beaten Ginzburg. 

The draw left the teams virtually lied 
atop Group 1 with 2-0-2 records and 
eight points. Each has scored seven 
goals, but Romania has conceded only 
three compared to four by Israel. 

Romanian 'keeper Bogdan Stelea had 
to parry a shot by Ronen Harazi in the 
fourth minute, while Ginzburg was beat- 
en by Lacatus in the 1 8th minute and 
had to be saved by Klinger, who cleared 
the ball from the goal line. 

Malta ft, Norway 1: Striker Jan Aage 
Fjoertoft got the only goal in Valletta as 
Norway struggled but remained atop 
Group 5 with 10 points from four 
matches. It has a two-point lead over ihe 
Netherlands, with the Czech Republic 
another three points back. 

Fjoertoft shot the ball home in the 
10th minute after it was headed down to 
him from a set piece as the Norwegians, 
adopting their trusted long hall style, got 
off to a good stan. 

But the Maltese, who recently held the 
Czechs to a 0-0 draw, almost pulled even 
in the 32d minute. Midfielder Kristian 


Laferla broke through only to shoot 
straight at goalkeeper Frude Grodaas. 

Netherlands 5. Luxembourg 0: The 
Dutch gave their coach, Dick Advocaat, 
a fine farewell before he joins the club 
team PSV Eindhoven. 

Youri Mulder scored m the 6th min- 
ute, Bryan Roy in the 16th and Wim 
Jonk in the 39th, when his free kick 
deflected off the leg of Manuel Cardoni 
in the Luxembourg wall, to erase any 
doubts about the outcome. 

Clarence Seedorf, 18, a halftime re- 
placement for Mulder, scored on his 
debut with the last kick of the match 
after Ronald de Boer had gotten the 
fourth in the 52 d minute. 

Roy came close twice before he found 
the net, and then less than elegantly. In a 
goal -mouth scramble, he first iripped 
over the ball, but regained his compo- 
sure and his feet to slide the ball past 
goalie Paul Koch. 

Wales 0, Bulgaria 3: Bulgaria scored 
on two early defensive mistakes as it 
cruised to a victory in Cardiff that put 
the World Cup semiiinalisis three points 
ahead in the Group ?, having played one 
more match than Germany. 

Defender Trifon Ivanov began the 
rout in the fifth minute, then Emil Kos- 
tadinov scored in the 15th and fellow 
striker Hristo Stoichkov in the 51st. The 
Welsh, despite fielding players the cali- 
ber of Liverpool’s Ian Rush and Mark 
Hughes of Manchester United, have lost 
three qualifying games in a row. conced- 
ing 11 goals. 

Veteran Welsh goalkeeper Neville 
Southall rescued his team just two min- 
utes into the match when he darted out 
to block Kostadinov’s shot with his legs. 


But he was beaten three minutes later 
when the Welsh defense only half cleared 
a corner and Ivanov volleyed the ball 
home from the edge of the penalty area. 

In the 15th minute, Welsh defender 
Mark Aizelwood carelessly gave the ball 
away just outside the penalty area and 
Kos tadinov drove it into the net off the 
inside of a post. 

Moldova 0, Germany 3: Germany 
woo its second consecutive match on the 
road to go to 2-0 in Group 7. 

Ulf Kirsten opened the scoring in the 
7th minute, Jurgen Klinsmann made it 
2-0 in the 38th and the German captain, 
Lothar Matthaus, playing his 121st 
game for the national team, got the third 
m the 72d. 

The three-time world champions ap- 
plied pressure from the start and took 
the lead when Klinsmann sent a perfect 
cross form the right and Kirsten, left 
unmarked at the far post, beaded the 
ball in from dose range. 

Kirsten repaid the favor on the sec- 
ond goal. Thomas HassJer crossed from 
the left, Kirsten controlled the ball and 
laid it on for Klinsmann, who beat Mol- 
dova goalkeeper Vasile Coselev with a 
low shot. 

The Tottenham striker had a role in 
the third goal as well. He headed a cross 
down to Matth&us, who controlled the 
ball with his cbesl and drove it into the 
net from close range. 

Georgia 1. Albania 0: Georgian striker 
Chou Arveladze was a double hero in 
Tirana, scoring the only goal and then 
heading Albania's attempted equalizer 
off the line in that Group 7 match. 

Arveladze scored in the 17th minute 
when a superb cross from Kakhar Go- 


giichaichvili on the right split the de- 
fense and found the striker unmarked. 

The attacker turned defender 12 min- 
utes after the interval, when Albania was 
awarded a free kick. Sulejman Demol- 
lari whipped in a curving shot that beat 
goalkeeper Akaki Devaoze, but Arve- 
ladze was on the line to head it clear. 

The defeat left Albania anchored at 
the bottom of the group with no points 
after three matches. Georgia moved into 
a tie with Germany and Moldova, a th- 
ough it has played four matches, Mol- 
dova three and Germany only two. 

Finland 4, San Marino 1: Striker 
Mika-Malti Paatelainen scored four 
times to give his team a resounding vic- 
tory in a Group 8 match in Helsinki. 

Paatelainen, who plays for Bolton in 
the English first division, struck twice in 
each half as the Finns, needing a victory 
to have any chance of reaching the finals 
in England, moved into third place in 
the group, behind Greece and Scotland. 

Turkey 1, Switzerland 2: Marcel 
Roller and Thomas Bickel scored in the 
first 16 minutes in Istanbul as Switzer- 
land moved to the top of Group 3. 

The Swiss are now three points ahead 
of Sweden, with a maximum nine points 
from three games. 

Just seven minutes into this match, 
Roller scored by heading the ball in 
after Bickel's free kick. Bickel's shot 
nine minutes later made it 2-0 as the 
Turkish defense wilted. 

The T urks recovered in the 40th min- 
ute, when Recep Cetin fired a 25-meter 
shot past goalie Marco Pascoli, but 
could score again despite pressing for 
most of the last half. 

(AP, Reuters) 


■ s-*, 

- - - ru 


A British Athlete’s Fight 
For Health and Esteem 


.OjfV 






International Herald Tribune 

L ONDON — Peter Gordon recently 
underwent chemotherapy, which left 
•. him hardy able to walk. Sou did not seem 
proper to bother him for thoughts on his 
- British teammate Diane ModahL 

Like Modahl, Gordon sought reinstate- 
ment from a four-year ban brought by the 
■ international athletics federation, the 
■ IAAF. After a meet here in 1993 he had 
been able to provide only 30 millili ters of 
•the 70-mQliIiter urine sample demanded 
by the ZAAF to be tested for drugs. The 
'next day he mmmm^em^mimm^mmmam 


Ian 

Thomsen 






PDAU, 

’.and 5$ 






gave a full 
jampletohis 
-local doctor 
but by then 
he had already broken the rules by fading 
to have been chaperoned until the sample 
had been provided. 

■ Only later did he realize that he had 
been unable to comply with the rules be- 
cause he had genital cancer. It has taken 
him 1% years to clear bis name. 

He is 43 years old, a former policeman 
living near Newcastle in northern Eng- 
land. He lives alone in spite of the disease, 
•but he has good friends. At first he hired a 
lawyer to fight his case at a cost of £5,000 
($7,800), but his friends interceded be- 
cause Ids case was being lost in the law. His 
is an argument of compassion and com- 
mon sense. His friends could argue those 
terms better than any lawyer. 

“Everybody knew he was ill, but some- 
how or other they just kept dragging their 
heels,” said his friend, another former po- 
liceman and a British teammate named 
Arthur McKenzie. “It was very, very, very 
bard for him. It was absolutely terrible. It 
didn’t just destroy his athletics career, it 
'destroyed his good name and reputation. 
It was like Peter said one time, he said, ‘I 
can beat cancer but I can’t beat the British 
Athletics Federation.’ ” 

He and McKenzie met 20 years ago to 
train together, when they were both throw- 
ing the discus. McKenzie is 55 now. Even- 
tually Gordon improved and surpassed 
him. Gordon’s cancer shook McKenzie 
because if there was one man who seemed 
too strong to get ill, it was Peter Gordon. 


McKenzie believes his friend still could 
have qualified for the Commonwealth 
Gaines last summer if not for the drug- 
testing penally. He was still strong until 
the chemotherapy wiped him out. 

McKenzie believes that his friend might 
have had a better chance against the dis- 
ease had he been allowed to compete, to 
kero training with a goal. He was stripped 
of the main competitive purpose of his life 
just when he needed it mosL 
To this day. according to McKenzie. 
Gordon has not heard from the BAF exec- 
utive chairman. His name is Peter Rad- 
ford, and he was brought in last year to 
provide more caring and understanding 
leadership to British athletics. Eventually 
Gordon’s friends convinced the BAF that 
be really was sick and deserving of help. 
After a year and a half the BAF decided to 
reinstate Gordon. Then Arthur McKenzie 
realized the damage that had been caused. 

“The guy was transformed in 10 sec- 
onds,” McKenzie said. “You could see it in 
the look in his eye, the glint in his eye that 
somebody cared. He had support It was a 
nightmare that W8S OVBT. ITS the SOTt Of 
thing if you’re thinking that everything’s 
against you, you can almost implode think- 
ing things are going to keep going wrong.” 

For reasons not explained, the BAF has 
not taken the further step of supplying the 
medical documents that win allow the 
IAAF to lift its international ban of Gor- 
don. No matter Gordon won’t be compet- 
ing anytime soon, obviously, and McKenzie 
gives credit to die BAF for doing the right 
thing finally. But here is the real matter. 
Here is how he heard the good news. Rad- 
ford’s secretary phoned to say that they 
wanted to fax the good news right over, 

“I said, ‘Can I talk to him?* ” McKenzie 
recalled. “I heard some muttering on the 
phone. She came back and said he was too 
busy.” 

A LOT OF PEOPLE have been fight- 
ing on behalf of Diane Modahl over 
the last week. Her husband and coach, 
Vincente, drummed up an unwieldy 
amount of publicity, which put enormous 
pressure on the BAF panel. Perhaps it back- 
fired. She was found to have an unhealthy 
proportion of testosterone, which usually 


Modahl Is Banned 
4 Years for Drugs 

The Associated Press 

LONDON — Diane Modahl, the for- 
mer Commonwealth 800-meler champion 
was found guilty of taking a performance- 
enhancing drug and banned for four years 
Wednesday by the British Athletic Fed era 
lion. 

A five-member disciplinary panel an- 
nounced it had rejected her argument that 
samples taken from her had been improp- 
erly handled by a laboratory. 

“The committee was satisfied unani 
mously and beyond reasonable doubt that 
a doping offense has been committed by 
Mrs. Modahl” the panel’s chairman, Mar- 
tyn Lucking, said in a statement 

Modahl vowing to “carry on fighting to 
clear my name,” said sbe will appeal the 
ruling before an independent arbitration 
panel to be set up by the BAF. 

She tested positive for the male hormone 
testosterone after finishing second at a 
minor meet in Lisbon on June 18. The 
positive result wasn’t relayed to the BAF 
until more than nine weeks later. It showed 
Modahl with a testosterone-epi testoster- 
one ratio of 42-to-l, more than three times 
the level that the banned Canadian sprint- 
er Ben Johnson mice registered. The nor- 
mal ratio is Mo-1. 


indicates other illness or the use of perfor- 
mance-enhancing drugs. The evidence was 
complicated and debatable; it could be held 
under different lights for different purposes. 
Even the doctors don't agree on the evi- 
dence. It is entirely possible she was found 
guilty because Lhe judges had braced them- 
selves against feeling sympathy or compas- 
sion for her, a result of the publicity. 

What it meansls that no one has faith in 
the system. If Modahl really is innocent, 
she lacked faith in the system to recognize 
that innocence. If she really is guilty, she 
believed the system to be so irresponsible 
as to be swayed by public pressure. 

She's in a lousy business. Bui then at 
least she receives a public hearing, a 
chance to clear her name, because she runs 
with the group that makes money for the 
business. She is a revenue producer. Com- 
pare hear to the dying man who asks only 
for understanding, and can’t get even a 
word over the phone: 






CROSSWORD 


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go Hospital bed 



Puma &yRMi Monti 


C 1 New York Times/ Edited by (TEH Shorts. 


Solution U> Puzzle of Dec. 14 


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INTERNATIONAL CLASSIFIED 


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Page 24 


T1 

bt 

w- 

di 

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a 

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d 


Fa 


ART BUCHWALD 


( Mutiny in the Ranks 


I 

1 


W ASHINGTON — Word 
has just leaked out from 
the White House that President 
Bill Clinton plans to visit U. S. 
troops in North Carolina for 
Christmas. This is the first time 
in American history that a pres- 
ident will set foot on unfriendly 
U. S. mili tary soil — and the 
Secret Service is very concerned 
for his safety. 

Their nervousness is caused 
by a tip they received from Sen- 
ator Jesse 


Helms that if 
Clinton ven- 
tured down to 
Helms's part 
of the world, 
the president 
would need a 
bodyguard to 
protect him. 

The security 
people are tak- 
ing the threat 
seriously. 

“Helms probably had his 
foot in his mouth when he said 
it,” one agent said “He usually 
does.” 

“Nevertheless, he wouldn’t 
have said it unless he knows 
something we don't know. 



There might be a lot of GIs in 
North Carolina that have no 
respect for their commander in 
chief. I recommend that we try 
to encourage the president to go 
to Cuba instead” 

□ 

The head of the Secret Ser- 
vice protested, “We can’t tell 
the president not to go some- 
where in his own country. It will 
send a bad signal to Yeltsin. We 
need to beef up the troops on 
North Carolina soil who are 
loyal to the White House.” 

“How do we do that?” 

“We’ll bring in Marines from 
Guantanamo Bay who are not 
loyal to Helms.” 

“What 1 would like to know 
is, did Helms actually threaten 
the president’s life if he visited 
the troops in North Carolina?” 
“Not exactly. He just hinted 


Bncfawald 


that they were sounhappy they 
might jao 


Nelson Mementos 
Sold at Sotheby’s 


The Associated Press 

LONDON — The secret plan 
that gave A dmira l Horatio Nel- 
son his victory at the Battle of 
Trafalgar in 1805 has been sold 
at auction along with other me- 
mentos. 

The collection of Lord North- 
esk, a descendent of one of Nel- 
son's commanders, was sold at 
Sotheby's for £419,925 
($655,000). 

The highest price fetched was 
£106,000 for a rare Admiral’s 
Gold Trafalgar MedaL Nel- 
son's strategy plan was sold to 
the same unidentified collector 
as the medal for £56.000. 


Mr. Clinton bodily 

harm.” 

“Can’t we charge Helms with 
endangering the life of the pres- 
ident?" 

“We could, but he's about to 
become chairman of the Senate 
Foreign Relations Committee, 
.md if we make accusations 
against him it will send a wrong 
message to Somalia.” 

“O. K-, we might as well go 
ahead with plans for the trip. 
We’D, tr ansf er all the disloyal 
troops from Fort Bragg to Kan- 
sas and all the reserve para- 
troopers from California to 
Fort Bragg. Whatever aircraft 
carriers we have at Nag's Head 
will be considered suspect and 
moved to Norfolk, Virginia.” 

“We don't have much time, 
but I believe that everyone en- 
rolled in ROTC at the Universi- 
ty of North Carolina should be 
given a lie detector test.” 

“You’re on," the Secret Ser- 
viceman said. “We owe H elms a 
lot If it hadn't been for his 
warning, we might never have 
known about the mutiny the 
commander in chief faced in the 
Tar Heel state.” 


^ 

Madame Gres’s Secret and Perplexing Death 


By Suzy Menkes 

International Herald Triton* 

P ARIS — A hidden death, an aveng- 
ing daughter, a lamenting chorus — 
the sad, lonely H^mise of couturier Mar 
dame Gris has all the dements of a 
Greek tragedy, which her signature 
Grecian drapes might have costumed. 

The designer, who rose to fame in 
the 1930s and became an icon of haute 
couture, was believed to have been 
living a peaceful old age after a life- 
time devoted to fashion. In fact, she 
died in November 1993, aged 90 — 
something tha t hex daughter Anne 
concealed, Haiming that she could not 
afford an appropriate tombstone. The 
deception included even responding 
in hex mother’s name to an exhibition 
of Madame Grfts work held this year 
at New York’s Metropolitan Museum. 

The news has shocked the Paris 
fashion community, not least because 
accusations are flying that the Fftdftra- 
tion Fraugaise de la Couture, of which 
Madame Gifts was president from 
1972 to 1988, had neglected her in old 
age. She had been obliged to sell her 
couture house in the 1980s and her 
“savior” was the colorful fi n a n cier 
turned politician Bernard Tapie, cur- 
rently under investigation for tax eva- 
sion and business fraud. In France’s 
tense political climate; the affair of 
Madame Gres — revealed by Le 
Monde this week — has taken a politi- 
cal dimension. 



“She was one of the grwt moto- 
' istswho beHewcd in titter simplip^ ol 
dress, and made the same bad of 
couture as Chanel and. Viomietjhat 
was adapted to modern living, ne 
said. “I am shocked by thenewsof her 
death, because every time I gave a tour 
of the exhibition 1 spoke with some 
to ndehrata a liv- 


, (leaguer, x icon j aw 
part of a misundenstanding 

forced ignorance.” . 

When, the Metropolitan exhibition 
opened, a letter puiporting to include 
theieactions of Mulame Gifts was 
written by her daughter and published 
in Women’s Wear Daily on Nov. 1. 

The strange covcrup of the death of-, 
one of fashion's icons pants up v*at 

• , 1 . 1 .. faemnn 


Madame Gres with a model at one 


Pott GniQjnd . Afencc Francc-Prese 

of hear last fashion shows, in 1986. 



er 

them — 

governing body did enough — or in- 
deed anything — to help the pTOud, 
reclusive designer who lived for her 
work. Or whether her daughter simply 
rebuffed aD attempts at help for, or 
even contact with, her elderly mother. 

“I believe that Madame Gifts died 
three times,” said Pierre Bergft, who 
heads Yves Saint Laurent, “the first 
time IS years ago when the press lost 
interest in her, then when she fell in 
with Tapie and he abandoned her; 
and finally when fashion dropped 
her.” Bergft was referring to a contro- 
versial derision to replace her as presi- 
dent, although she retained to her 
death the title of honorary president. 

“She absolutely was not abandoned 
or neglected by the Chambre Syndi- 
cate,” said Jacques Mouclier, who 


took over as president in 1988. “It was 
rather that she withdrew into her own 
solitude. I knew her very well and we 
worked together for 10 years. She was 
very affectionate, and said that I was 
her protector. The last time I saw her 
was in 1988, and she had not lost her 
senses. But after her financial prob- 
lems with Tapie, she retrenched. I 
wrote several times to an address in 
Saint-Paul-de-Vence. The letters were 
not returned but I had no reply.” 

The designer Azzedine Alala, who 
buys Grfts dresses at auction for the 
fashion museum in Marseilles, be- 
lieves that the fashion world let her 
down. “It is such a horrible story that 
a symbol of French fashion should 
have died — and no one knew about it 
for a year, even though these things 
are prated at the local town hall,” he 
said. “In my opinion everyone should 
feel guilty that she was left to rot in an 
old people’s home. 

“If anyone had tried, she could have 
been looked after, either by funds 
from the Chambre Syndicate — or 
even by selling her archives properly 


instead of putting them up for sale 
chaotically. The proceeds from just 
one dress would have paid for a maid 
ora muse for three months. It fc jnrnds 

me of the end of Paul Poirei —and to 

thmlc that fashion people have no 
memory and that the same thing could 
happen in our time.” 

Poiret died in poverty in 1944, after 
triumphant fashion years before 
World War L Madame Gres, who 
originally worked under the label 
Alix, was the last survivor of the gen- 
eration of forceful women designers 
who projected fashion into a new era. 

“I consider that Madame Grfts was 
the founder of modernism," Yves 
Saint Laurent said Wednesday. “I saw 
the exhibition in New York, and 1 was 
overwhelmed by her sense of moderni- 
ty. I find her death so sad because she 
has left us in character, gently, with- 
out a sound, like a nun. And that was 
what she was like.” 

Richard Martin, curator of the Cos- 
tume Institute of the Metropolitan 
Museum, agrees that Grfts was more 

than a classicis t. 


I 


family gave way to ent 
investors in the 1980s.-- Gifts, who 
Mouclier admits was never mnch 
good at management, feu on hard 
times, sold her business to Tapie, and 
later found that it had been been sold 
off to Japanese investors. 

Plaudits from feDow couturiers in- 
clude a poetic tribute from Emanuel 
Ungaro, who called hex contribution 
“a masterwork, bathed in the light of 
antiquity, of great classical beauty” 
Clients, who have kept hex timeless- 
classical evening dresses, were, as 
ocked as the fashion community. 
“Oh my God, I loved that woman," 
said socialite Nan Kempner. “I would 
see her come into the room, take the 
material and rub it aD round you. She 
loved that material- I pull out the 
dresses and still wear them.” 

Anne Gifts claimed in Le Monde . 
that the fashion world stood by when 
the boose went bankrupt in 1987 and 
archives were trashed Many Gifts 
dresses and even her personal collec- 
tion of turbans have gone through the 
salesrooms, some sold by Anne Gifts 
herself, “to support my mother.” 

It may be that Madame Gifts, a 
designer who lived for her work, chose 
to retreat into a private world Illness 
may have thrust her into a twilight 
zone. But the fact remains that a fash- 


ion world eager to pay flowery trib- 
utes did not make the effort to get a 


bouquet, a note or its collective feet 
inside the l 


hone where she lived out 
her lonely end 


PEOPLE 


Dt aid CrosbyhHome 


55, has been 


David 

released from a; 

pjtal three weeks after undergo. 
Ega transplant io replace a Iras- 
damaged by . years of dni^ and. . 
alcohol sbuse. : Doctors Said hfa. 
prognosis was rabdtant. . - . 

•••' : 'n ‘ : - 


EfizabethEstCTe-Cott, 56, has 
resigned as director of - the Vic- 
toria and. Albert Museum in 
London after six years in the 
post. Estcvp-Cofl hay teen both 
•trans- 


forming the mascara from a 
scholarly J 


1 ricHstefrtoan institu- 
tion far a tfiPOadcr pubGc, Fs~ 
teve-CoD smi -she was leaving 
to become w*<ianceflorof the 


; The. New .YqriE er has named ; 


British literary magazine 
Grants, as its fiction and liter- 
ary editor. Buford, anAmcri- 
caru has edited Grarita smog- 
1978, changing it from -a mm? 

publication 1 with a 


quarterly of fiction arid nonfic- 
tion with a circulation- of 
100,000. WhQe'ficfon hits , al- 
ways been a staple of Tbe.Neft 
Yorker, people f amiliar with 
the fiction department say ,the 
nwgazme devotes about half 
tiie space to fiction that it- did 
before Tina Brown became edi- 
tor in 1991 Buford The 
New York Times that “good 
fiction will argue for, its own 
space.” • . - 

’ O'. '..tV ' 


Deborah NonriUe, 35, has giv- 
en birth to a son in New York. 
Norville, a former “Today” 
show co-host, becomes an ah- : 
chor in 1995 of the syndicated . 
“Inside Edition.”'. 


The screenwriter Wlfltain 


tier and B9ty WBder, will receive 
a. lifetime achievement award 
Feb. 27 frem the National Board 
of Review of Motion Pictures. 


WEATHER 


WEEKEND SKI REPORT 


Europe 


Forecast for Friday through Sunday, as provided by Accu-Weather. 



Today 





High 

Low 

W 

High 

Low 

W 


Clr 

CIF 


C/F 

OF 


/Ugatw 

I 7 t 3 

3/48 


17(82 

11/52 

ft 

Aimer 'Jan: 

6/43 

2(35 

B 

6(43 

3/37 

a 

Anluvs 

6-43 

3.-35 

oh 

5.41 

0,27 

r 

Ah™ 

13/55 

7/44 

c 

11/52 

6(43 

• 

BoicMx^ 

I 6 J 01 

7/44 

0 

i 4 -s: 

0/48 

sh 

Brfgrah) 

1-34 

-4 IS 


4.-30 

■21 ? 9 

a 


3-37 

- 4 . 2 S 


2 ns 

-229 

0*1 

enimwl. 

7/44 

2(35 

1 

7/44 

3(37 


Bidacw: 

J .-37 

(‘132 


5-41 

1-34 

4 

Ccpinhojffi 

4.33 

■ZiW 

3 

3/37 

■ 1.-31 

wn 

CcsU^tlSo! 

15/66 

9-40 

9 

IB *4 

11/52 

a 

Cttlr. 

ear 

2/35 

•til 

7(44 

4-33 

B 

Ecrtsr ? 1 

7-44 

5.41 


7/44 

5/41 


Hcrancp 

514 a 

■ 1/31 

a 

9/48 

403 

1 

rrarto.-i 

<■■33 


0 

3t77 

0 T 2 

sn 

Genera 

5-41 

-V 31 

a 

4-39 

104 

an 


■2Vt 

- 8/10 

an 

- 2(29 

-5 ns 

sn 

ted 

5 .- 4 S 

4.33 

M 

8/48 

307 

sri 

Lb- PjHcca 

? 5/73 

■9156 

c 

M 7 B 

17/52 

a 

Usbro 

IS SO 

9-48 


14/57 

?/« 

a 

Lonttwi 

?■« 

S -41 

pe 

9/40 

439 

a 

L*adnd 

14/57 

409 

» 

13/55 

4 09 

a 

Mfan 

6-43 

-IOT 

» 

6/43 

2.75 

ah 

Us £C3* 

•SS 2 

■ 8/10 

zn 

-6/22 

■one 

sn 

IteH 

3/37 

804 


3(37 

■209 

sn 

lira 

I 3 IS 5 

2/35 

B 

12/53 

6.43 

ah 

O* 

0/33 

-307 


■ 1/31 

-4,75 

an 

Pakra 

10/61 

0/45 

9 

13/95 

9.40 

V\ 

Parts 

7/44 

2/35 

3 

S -43 

3/37 

ah 

Prague 

2 ns 

- 4/28 

B 

2.95 

-307 


Roytgaw. 

307 

■ 1/31 

| 

2.35 

- 1/31 

an 

Rome 

15150 

4(33 

* 

13/85 

307 

a 

a PwijrAuiE 

- 0 / 2 Z 

-UdB 

an 

- 63 2 

- 0/10 

an 

aodtheko 

1.04 

■ 4/25 

•> 

1/34 

- 3/37 

an 

ElrirXOurq 

4/33 

-337 

a 

4/33 

002 

on 

Ta»™. 

•007 

■ 7/20 

«n 

- 2/29 

-504 

an 

Venn* 

7(44 

0/32 


8'46 

3/37 

1 

inw™ 

3.05 

■ 3.77 


3/37 

■1 (31 

s 

V/omw 

om 

- 3/27 


104 

- 3(27 

on 

Zurich 

3/37 

■ 3(27 

y 

2(36 

- 1/31 

on 

Oceania 

Auddond 

22/71 

14/57 

9 

22/71 

14 /B 7 


Sydney 

27 /BO 

19 /B 0 

a 

2002 

20*8 

a 



Jctdiaan 


North America 

New York and Washington. 
DC., will have some rain 
and porfiaps snow or Ice Fri- 
day mlo Saturday, then dry. 
chJiy Sunday. Snow 

or le* : Ii. sty Friday into 
Saturday in Toronto and a bit 
at snow is possible n Chica- 
go. Los Angeles wiB be dry 
and mild through the week- 
end. 


Europe 

Stormy woalhor wHl commie 
in (he eastern MedHerranean 
through the weekend but the 
bulk of the storm wfl move 
east of Italy. Dry. mild weath- 
er will provai l ai Spain and 
much ol France. Northern 
Engtend wifl be stormy, but 
southern England wffl have 
lust a few showers. 


Asia 

The cold in eastern China. 
Korea and Japan wffl moder- 
ate a bit over the weekend, 
with no predpttauon expect- 
ed. Southeast Asia will be 
mild through the weekend 
with a few showers in south- 
ern sections Singapore wtB 
bo waim and humid with a 
couple of thundershowers. 


Middle East 


Latin America 


Today 

Wgh LnrW 
OF CtF 

Baku * 7 Its 14*7 c 

Con 10184 10S0 c 

Dmrvucus 13*5 "M3 C 

Jnuulmi 13,55 ««8 


muti Low w 
OF OF 
17«2 13155 eh 

16(61 8/45 oh 

12/53 0/43 ah 

13*6 9/46 ah 


ttyo-di 


22/71 e /43 pc IB/B 8 5/41 ih 

21/70 12/53 pc 25/77 12 . S 3 s 


Today 

High Low W 

OF OF 

Buenos AkM 32/IQ 22/71 s 

29/94 20/08 ah 

25/77 18*4 s 

24/79 7/44 pc 

33/91 23/73 pc 


Uma 
Maa fc oOy 


Snatogo 


Tomorrow 
High Low » 
OF OF 
32/99 21/70 pc 
29 /B 4 20*8 sh 
24/75 19*8 pc 
23/73 0/46 pc 

32 /OB 23 173 


Asia 


Todw 



High 

Low W 

Hgh 

Low W 


OF 

OF 

OF 

OF 

Btttyrak 

30/06 

22/71 e 

29 .B 4 

22/71 1 


- 3/27 

- 11/13 a 

0/32 

■ 7/20 a 

Hens Kong 

22/71 

18/64 pc 22 m 

13*6 ah 

Manta 

31/08 

23/73 PC 

31*8 

24/75 pc 

NewDo/hl 

27/80 

BMC a 

20/82 

0/40 a 

Sand 

- 4/25 

■12/n pc 

. 1/31 

- 9--10 1 

Shanghai 

9 / 4 S 

033 1 

9/48 

P. 3 S 1 


31/88 

24/75 pc 

31(69 

2475 eh 

Tap* 

* 9/66 

16*1 ah 

20*8 

16*1 eh 

Tufcpi 

10.50 

2/35 Sh 

8/46 

0 32 c 

Africa 

Atpeim 

17/02 

11/52 a 

16*1 

11/52 Mi 


37 /BO 

15*8 a 

28/04 

15*0 s 

CavriitancB 

20/88 

9 M 8 PC 

18*8 

9 ‘ 4 B ■ 

Tbnra 

10/84 

0/40 pc 

21.70 

0/46 pc 

Ltjm 

31/08 

23/73 1 

32*9 

2 S .77 s 

Nwrob 

20/88 

13/53 eh 22.71 

12/53 1 

Tuno 

17(62 

7/44 pc 

11/62 

0/43 r 

North America 

Anchoaga 

■2129 

■enB pc 

- 4/25 

-12/11 pc 

Altanla 

16/01 

0146 e 

13/55 

5/41 sh 

Boaton 

3/37 

■ 2/29 a 

3/37 

•209 pc 

Chicago 

307 

0/32 c 

4/39 

- 3/77 C 

Dnwor 

4/38 

- 9/10 1 

6/43 

- 9/16 S 

Petra* 

SMI 

1(34 e 

4/39 

■2129 e 

Horeiuki 

2 B/B 2 

10*0 pe 37/00 

21/70 pc 

HouMon 

20 /B 6 

17*2 c 

18/84 

8/48 Eh 



Resort 


Depth Mta Ree. Snow Last 
L U PMaa Ptatas State Snow Comments 


Depth Mill. Res. Snow Lest 

L jr — 


Comments 


Austria 

ISChgl 

Lech 

Obergurgl 
Solder 
SLArtlon 
SL Johann 


0 £0 Good Cted Pckd 1 «-' 1 S Cpen pstas skiing wed 

10 50 Good Open Pwdr IN /72 Frssn snow opening men tuns 

5 30 Fair Ctsd Pwdt id /12 Upper ntrs reasonably good 

0180 Good Clsd Pwdr 14/12 Cntygtaaer* sfoabte at present 

10 70 Fair ctsd Pwdr 14/12 Fresh snow, not prepared pistes 

0 ID Ctsd Clsd Pwdr 14.12 Fresh snow aff Cay 


Bormlo 

Carvlnra 

Courmayeur 

Madesuno 

Ss/va 

Vat Senates 


O SO Far 
0100 Good 
30 70 Good 
0 60 Fair 
0 10 Cted 
0 60 Fair 


Chid 

Ctsd 

Ctsd 

Ctsd 

Clsd 

cted 


Var 10/12 SkAngtimBodtoSKmotpBtB 
Vat 0/12 Sdabte down to 2550m. . 
var 9/12 )? nils open good siting 
Var 9/12 SMng bated, snow neetisd 
var 18/11 Lttts wet open soon 
var 10/11 Gbaor sMng *oB 


Canada 

Lake Lou ise 
Wh/SUer 


60100 Good Good Pwdr 13/12 EnceSem skung aB Hits open 
50150 Good Good Pckd 11 /i 2 Great sUng. Mints end tuns open 


Gello 


30 30 Good Fair Hard 10/12 Gentrafy good. 8/tB ate open 


LmAngdn 

Itan 


Nawybrfc 


29/84 11/52 pc 2904 I 2 S 3 pc 


Legand: s-aumy. pc-oanty cJcocty, c-dowty. sh-shwws. l-thunctarslorTna. r-raln, si -arrow Huntsa, 
an-snow. Hoe.W-WaaSMr. A< maps, lorac a sta and data prwlded by <Lcw* rBmUw . kn. 0 1994 


Sot Fran. 
Seattte 
Toronto 
WMertfan 


18*4 7/44 ■ 23/73 &M 3 s 

27 /BO 19*6 s 27*0 19*8 pc 

- 3/27 e /16 an -ixn ana pc 

- 2/29 - 9/18 pc -a.VB - 8 rtB pc 

27 /BO 21/70 pc 28/82 21/70 pc 

4/39 2/35 pc 8*43 2 W pc 

10*1 409 a 20*8 6/43 a 

12153 EMI pe 13*5 4/39 pc 

6/43 4/39 C 8/48 4/39 pc 

2/35 - 6/22 c 1*34 M /25 pc 

7/44 2 / 3 G C 8/48 2/35 pc 


Rbiin 

Alped’Huez 

Les Arcs 

Avoriaz 

Courchevel 

Les Deux Afees 

MAribel 

La Ptagne 

Tignes 

Val dtadre 

ValThorens 


0 90 
0 50 
5 20 
0 80 
0150 
0 SO 
10150 
25 95 
20120 
TO 50 


Fair Clsd 
Fair Ctsd 
TNn Clad 
Fair Chid 
Good Cted 
Fair Cted 
Fair Cted 
Good Fair 
Good Worn 
Fair Fak 


Var 9 12 
Var 9/12 
Var 9/12 
var 9 /t 2 
Var 8/12 
Var 9/12 
Var 9/12 
Var 9/12 
Var 9.12 
Var 0 12 


WndyszairthtdB. sknngstiBSmriBd 
10 cm ol mow at 2000m 
Ootdor today, mom mow needed 
MerStel Lmk partatty open 
SktatAa down to 2600m 
4 paies. 1 Ml open above mottaret 
Only gtxxrsktatileat the moment 
Upper runs good, tower, worn.- icy 
Good on higher plstas. 26 «ts 
10 Bis open, open posas good . 


■wwlmurf 

SWIWMIID 

Crans Montana 

Davos 

■Casters 

Si Moritz 

Vertner 

Zermatt 


0 SO 
0 40 
0 40 
0 50 
0 
5 


Fair 
Hard 
Hand 
Fair 
80 Good 
85 Goad 


Ctsd Var 9/12 SKtiig only on ptaioe mode giecier 
Clsd Pckd 9/12 Open n*K reasonably good snow 
Cted Var 9/12 SMbrg at noarty da*os .. 

Clsd Pchd 0/12 Open mnssmaed but enpyatJle 
Cted Var 9/12 Surprisingly good sting 
Cted var 9/12 Good akingaP oim 2000m. 


t ie 

Aspen 75 85 Good Fair Pckd 9/12 9nw expected, good siding 

Breckenridga 65 85 Good Good Pckd 9/12 Generally good. Some herdpack 

Mammoth 195 240 Pwdr Good Pwdr 13/12 Exetient powder skOng 

Steamboat 90100 Goad Good Pckd 9/12 Maty good skOng. Ml 20 bits open 
Tefturide 80 95 Good Good Pw* 13/12 Good skftw everywhere 

Vail 60 80 Good Good Pckd 9/12 Sxn* expected, good Stung 


Germany 

Garmhsch 


0 75 Fair Cted Var 14/12 Suing limited to zugspice 


Kay: UU: Depth In cm on lower and upper slopes. Mtn. PlsNs:Moumainside psras. Rea. 
Pistes. Runs leadng to resort wflafle. AitArtltetal snow. 

Reports suppted try the Ski Club of Great Britain 



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