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INTERNATIONAL 



PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON TOST 


The World’s Daily Newspaper 


Paris, Friday, December 5, 1997 



No. 35.696 


5 

ic.J 


;i ■ 


‘Begged 9 by Tutu, Mandela Says She 9 s Sorry 


By Lynne Duke 

Washington Past Service 


. JOHANNESBURG — Accused for a decade of 
involvement in murder and torture committed by her 
former bodyguards. Winnie Madfldzela-Mandela 
Purely defended herself Thursday, boldly telling 
South Africa's mith commission that all allegations 
against her were “fabrications" and that most who 
testified against her had told “lies. ” 

In nearly 10 hours of combative testimony, the 
former wife of President Nelson Mandela lambasted 
her detractors within the anti-apartheid movement 
and took potshots at the current government. 

Most disturbing to the Truth and Reconciliation 
Commission, however, is that Mrs. Madikizela- 
Mandela. 63, took no responsibility for the activities 
of her infamous Mandela United Football Club, 
whose members lived on her property in the black 
township of Soweto in the 1 980s, where they acted as 
her bodyguards and allegedly tortured suspected 
informers and plotted muiders that struck fear into 
the township's heart Three dozen witnesses testified 
in nine days of hearings that told of a dozen murders, 
several assaults and abductions and a reign of terror 
associated with Mrs. Madikizela-Mandeh’s name. 

But after a. day of denials, Mrs. Madikizela-Man- 
dela offered no hand of reconciliation to assembled 
victims of her bodyguards — until Archbishop Des- 
mond Tutu, the truth commission chairman, begged 
her to do so. 

Invoking the historic bond of the famous Mandela 
and Tutu family names in Soweto, Archbishop Tutu 
said that something in Mrs. Madikizela-Mandel a ’ s 
once-great life had gone “horribly, badly wrong.” 

“I beg you, Z beg you, I beg you,” he implored. 

See MANDELA, Page 8 



mirUnanbou 

Joyce Seipei, left, mother of the 14-year-old who was beaten and allegedly murdered at Winnie 
Mandela’s home, as she unexpectedly approached Mrs. Mandela and kissed her Thursday. 



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Health Chiefs Outlaw All Ads, 

Including in Formula One 


By Barry James 

Inumanona l Herald Tribune 


Strange Footfellows: Cup Draw Pairs U.S. and Iran 


By Anne Swardson 

Washington Post Sen-ice - 


MARSEILLE — The draw Thursday 
for the first- round of next summer's 
soccer World Cup produced a string of 
interesting matchups between different 
continents and different cultures, but 
none more intriguing than the pairing 
between the United States and Iran in 
Group F. 

The clash in Lyon on Sunday, June 
21. is believed to be the first meeting 
between the two countries in sporting 
competition since before the 1979 Ira- 
nian revolution. 

The match was made randomly 
Thursday as part of the 32-nation draw 
for the tournament. Overall, die draw 
produced eight fairly evenly matched 
groups that will slug it out with each 
other round-robin in order to advance to 
the elimination rounds. 

The kickoff match. June 10 at the new 
$70Q-million Stade de France north of 
Paris, will pit defending champion 
' Brazil against Scotland. France, the host 
country, will play South Africa two days 
later in Marseille in the Velodrome sta- 
dium where the draw was held Thurs- 
day. Other tough early matches could be 






1 Brazil 

. 

2 Scotland 


3 Morocco 


4 Norway 



Maiseffle 

Stieeaf Wotid Cup SlBtctm .. 

Spin vs. Nigeria, Netherlands vs. Bel- 
gium and Italy vs. Chile. 

The United States will open June 15 
against Germany, the 1990 World Cup 
winner. The group also includes 
Yugoslavia. 

“This is a very difficult group,” said 
Steve Sampson, the U.S. coach. “We 
have a number of players with expe- 
rience playing Germany. The United 
States could be the surprise of the tour- 
nament, and we have every expectation 
of being in the second round.’ ’ 

With the exception of Iraq, which did 


GROUP E 


1 Netherlands 

2 Belgium 

3 South Korea 

4 Mexico 



t Germany 

2 United States 

3 Yugoslavia 

4 Iran ■ 


not qualify, it would be hard to imagine 
two countries with less love for each 
other than the United States and Iran. 
The Iran-Libya Sanctions Act prohibits 
not just American companies but for- 
eign ones as well from doing business 
with Iran, raising questions about 
whether the six American companies 
that sponsor the World Cup may come 
into conflict with the law. 

In 1979, when a fundamentalist rev- 
olution overthrew the Shah and brought 
Ayatollah Ruhollah Khomeini to 
power, 52 American hostages were held 


for more than a year in the U.S. Em- 
bassy. Later, the U.S. military accident- 
ally shot down an Iranian commercial 
jetliner. 

With the completion of the draw, the 
stage is set for the 1998 Work! Cup. This 
one is larger — 32 teams compared with 
24 in the United States in 1994 — and 
will last longer, with 64 games instead 
of 52. The games will be played at 10 
sites in nine French cities. France last 
played host to die World Cup in 1938. 

See SOCCER; Page 24 


BRUSSELS ,-r- European Union . 
health ministers agreed late Thursday 
on a ban on all forms of tobacco ad- 
vertising, but the long-sought f ^cmb 

n ^tfficials > lie agreement, which 
was reached after nearly 12 hours of 
talks in Brussels; would not take force 
until well into the next century. 

Under the agreement, sponsorship of 
spprts and cultural events by tobacco 
companies will continue at least five, 
and up to eight, more years. " 

“Worldwide” events,' such as For- 
mula One auto racing, will also be gran- 
ted eight more years before the ban 
becomes effective. 

Diplomats said that the delay had 
been designed to allow recipients of 
tobacco cash to find other forms of 
funding. The Formula One industry had 
threatened to move to Asia if the ban 
was imposed immediately. 

The agreement was expected-to begin 
taking effect next year, after approval by 
the European Parliament 
EU. governments have come under 
. pressure from cigarette makers and ac-' 
ti vines that receive financing from to- 
bacco companies, such as Formula One 
racing. 

Supporters of the ad ban had difficulty 
getting the necessary votes at a meeting 
tf European Union healto ministers here 
after Spain unppectedly and with little 
explanation said it would abstain. 

Tessa JoweU, the British minis ter re 
stole for public health, demanded 
; Forrpnla One racing be given a 10- 
year exemption from die sponsorship 
ban. She has strongly denied that her' 
husband’s position as a former director 
of a Formula One team played any part 
in her derision to exempt the sport 
The issue has seriously damaged die 
credi 
-Prime 

a series of evasions 
ruling Labour Party had sought and ob- 
tained. £1 millio n ($1.68 milli on) in 
campaign financing from the president 
of the Formula One Constructors’ As- 
sociation, Bernie Ecclestone. 

Under a hail of public and parlia- 
mentary pressure, toe party handed back 
the money, Mr. Blair indignantly denied 
that be had been pressured by Mr. Ec- 
clestone and the government went back 
on its pre-election pledge to outlaw to- 
bacco ads. The government’s U-turn 
was a setback for Health Minis ter Frank 
Dobson, who earlier announced radical 


proposals against sponsorship. 

It also drew toe ire of other si 
or ganizati ons -in Britain, particularly 
snooker, that take money from toe to- 
bacco industry. 

In an attempt to reach a compromise, 
Luxembourg, which holds the rotating 
EU presidency, proposed that countries 

should be given up to nine years to phase 
out existing sponsorship arrangements, 
far longer than sought by several coun- 
tries the European Commission, toe 
EU’s executive body. 

No sport is as dependent on tobacco 
cash as automobile racing. Seven of the 
U Formula One teams are sponsored by 
tobacco companies, while BAT Indus- 

See TOBACCO, Page 24 


U.S. Presses 



er 


Holocaust 

Payments 


By Alan Cowell 

New York Times Sen-ice 


LONDON — At the close of the first 
major international conference on toe 
Nazi gold, affair, toe United States 
sought Thursday to increase pressure 
for compensation to be paid to hundreds 
of thousands of aging Holocaust sur- 
vivors w ithin the next two years. 

“We must not enter a new century 



AGENDA 

National Election 
Ordered in India 

A reluctant India jwepared for its 
second national election in less than 
two years after President KJl. 
Narayanan dissolved Parliament on 
Thursday and ordered a vote by toe 
middle of March. 

The decision ended two weeks of 
uncertainty and followed a recom- 
mendation by the cabinet of the care- 
taker prime minister. Inder Kumar 
Gujral, whose coalition government 
collapsed last week. Page 6. 

U.S. -Israeli Talks 

PARIS (AFP) — Prime Minister 
Benjamin Netanyahu of Israel is to 
hold talks Friday in Paris with the 
U.S. secretary of state, Madeleine 
Albright, who has pressed for a 
renewal of toe stalled Middle East 
peace process, officials confirmed 
Thursday. 

PAGE TWO 

Dismerging a Corporate Marriage 

THE AMERICAS Pago 3. 

The Long and Short of U.S. Lives 

Books Page 13. 

Crossword Page 24. 

Opinion Pages 12-13. 

Sports Pages 24-25. 

The Int er mark e t Page 19. 


The IHT on-line wvAv.iht.com 


A ‘David vs. Goliath 5 Test for Mexico City’s Mayor 

Growth of Democracy on Trial 


By Molly Moore and John Ward Anderson 

Washington Post Service 

MEXICO CITY — As a youngster, Cuauhtemoc 
Cardenas lived in one of the world's great capitals, a 
temperate oasis of lovely parks and colonial plazas 

Mexico vows to combat police graft. Page 3. 

nestled in a high valley surrounded by snow-capped 
mountains and volcanoes. Six decades later, on toe eve 
of his inauguration as mayor, Mexico City is con- 
sidered one of the world’s most corrupt, overcrowded, 
polluted and crime-infested megalopolises, a dysfunc- 
tional city with mounting debt, horrendous traffic and 


years of running what many analysts believe is a 
virtually ungovernable city is being viewed as a crucial 



to rob citizens as protect them, where jogging can be as 
hazardous to your health as smoking, and where cor- 
ruption is so rampant that every city service — from 
obtaining a drivers license to mail delivery — requires 
a bribe, that Mr. Cardenas will be sworn m Friday. 

He will be the first modem-day elected mayor of 
Mexico City, the most powerful elective office ever 
won by an opposition candidate in the nearly 70-year, 
unbroken rule of Mexico by toe Institutional Rev- 
olutionary Party. For Mr. Cardenas, 63, and for- his 
leftist Democratic Revolutionary Party, toe next three 


pro 

his 


: administration, will help determine whether he or 
another opposition candidate has a chance of winning 
the presidency in the year 2000 and ending the In- 
stitutional Revolutionary Party's hold on Mexico’s 
highest office. 

“He’s gambling his political future,” said Homero 
Aridjis, a prominent writer and a long-time political 
associate of Mr. Cardenas’s from their home state of 
Michoacan in southwestMexico. Mr. Cardenas served 

See MEXICO, Page 8 


leading U.S. negotiator 
gold, told reporters, urging a cutoff date 
of Dec. 31, 1999, to complete historical 
inquiries and pay compensation. 

“Tim is a biological problem," he 
said, referring to the advanced years of 
many Holocaust survivors in Eastern 
Europe, many of whom are in their 70s 
and 80s. The United Stales wants diem 
to receive compensation and acknowl- 
edgment before they die. 

“We must not allow this to degen- 
erate into a biological solution,” Mr. 
Eizenstat added. 

The remarks were intended to build a 
sense of urgency after 18 months of 
growing scrutiny of Europe’s wartime 
history that has spread from initial dis- 
closures about Switzerland’s role as the 
leading banker to toe Third Reich to a' 
host of other dark histories in neutral 
and occupied lands. 

With the dosing of die conference 
Thursday, the focus of the debate is 
shift, to New York where, ac- 
a U.S. official, Swiss banks 
facing class-action suits from Holocaust 
survivors and their heirs are likely to 
come under mounting pressure to reach 
an out-of-court settlement within toe 
next few months. On Monday, 
moreover, U.S. city and state financial 
officers are to meet in New York to 
discuss. whether to continue punitive 
action against some Swiss private 
banks. 

See GOLD, Page 8 


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Clinton Prods 
At Town Hall 
Talk on Race 


By Peter Baker 
and Michael A. Fletcher 

Washington Post Service 

AKRON, Ohio — He poked and 
prodded and preached. He wandered 
the stage with microphone in hand and 
often challenged his audience. When 
is voluntary segregation acceptable? 
What difference does it make for 
whites and blacks to socialize togeth- 
er? Is it time for government to stop 
helping people based on race and fo- 
cus instead on class? 

The answers were not always as 
blunt as the questions. But as President 
Bill Clinton played host to his first 
town hall meeting on race Wednesday, 
he labored to draw out frank talk about 
toe lines that divide this Midwestern 
industrial city and, by extension, get 
the nation to explore perhaps its most 
vexing and volatile social issue. 

“What we’re trying to do here is 
drop a pebble in toe pond and have it 
reverberate all across America," Mr. 
Clinton said. “If we can find con- 
structive ways for people to work to- 
gether, leam together, talk together, be 



Kwh Kp-onwi^iv VwiwW Ihm. 

President Clinton at the televised town hall meeting in Akron, Ohio. 


together, that’s the best shot we've got 
to avoid “some of the difficult prob- 
lems we’ve had in our history." 

Never before has a president per- 
sonally conducted such a public dis- 
cussion on race in America. For two 
hours, as a national television audience 
watched, Mr. Clinton and 67 college 
students, civic leaders and business 
executives recounted their experiences 
with people of different colors. 


From a white man who 'admitted 
fearing black men on toe street to a 
biracial youth insulted because his 
checks are held up at the trank, the talk 
. at times touched on the most sensitive 
and poignant of human relations. 

Yet as divisive os race has been in 
toe American political arena lately, toe 
inaugural forum produced more ain 

See RACE, Page 8. 


IMF’s Conditions Breed 
Resentment in Seoul 

Politicians Denounce Strict Terms of Bailout 


By Don Kirk 

Special to the Hendd Tribune 


SEOUL — Politicians from both the 
governing and opposition parties at- 
tacked toe South Korean government 
Thursday for yielding to key demands of 
toe International Monetary Fund in re- 
turn for at least S57 billion in funds to 
bail out toe nation’s troubled economy. 

At the same time, the country’s stock 
market and currency increased in value 
— a sign of relief that South Korea has 


Japan’s economy “stalled.” Page 15. 

bought time for toe debt-ridden chae- 
bol, or conglomerates, that many blame 
for its financial crisis. 

The contrasting reactions dramatized 
the mixed feelings of South Koreans as 
their country faced the prospect of more 
bankruptcies, mass dismissals, demon- 
strations and turmoil over the next year 
of what is sardonically called here 
“IMF supervision.” 

The political criticism comes in the 
midst of a heated presidential campaign: 
Hie fact that all three major candidates 
for president in the election on Dec. 18 


The Dollar 


N— York THiradgy 8 4 P.M. pt*vtu«doM 


DM 


17706 


1.7715 


Pound 


1.6675 


1684 


Yon 


129.33 


126.725 


5.9275 


6.9327 



+18.15 


8050.16 


S&P 500 


8032.01 


change Tlwday 4 4 P.M. previous dose 


-3-67 


973.10 


976.77 


bad signed statements of support for the 
agreement was overlooked as the two 
front-runners vied with each other to 
unleash the strongest opposition to the 
IMF plan, 

Wednesday, toe day on which the 
Ftind’s managing • director, Michel 
.•Camdessus, and Finance Minister Lim 
Chang Yuel signed the deal, was pro- 
.£“*ni®d “National Humiliation Day” 
by the National Congress for New Pol- 

See KOREA, Page 8 


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He Did the Job, He Gets (Most of) the Money 


By Judith H. Dobrzynski 

New fa/* Tones Service 

S TAMFORD, Connecticut — In a high- 
stakes divorce case closely watched in cor- 
porate suites around the United States, a 
^ . judge has awarded the wife of a top General 
fclectnc Co. executive half of their cash, stocks and 
other hard assets, plus a part of his stock options and 
future pension benefits. 

According to his lawyers, the .award is worth 
about $20 million. In an estate valued by her side at 
as much as SI 30 million, that would be far less than 
the 50 percent she had claimed for contributing to 
bis success. 

The ruling Wednesday, dissolving the marriage 
of Gary Wendt, 55, chief executive of GE Capital 
Corp., General Electric’s most profitable subsi- 
diary, and Loma Wendt, 54, had been awaited by 
many people as a possible verdict on how much a 
stay-at-home spouse contributes economically to a 
marriage. 

But fee judge, Kevin Tierney of Connecticut state 
Superior Court in Stamford, did not give his reas- 
oning in outlining the complicated settlement. 

In the case, Mrs. Wendt presented herself as 
someone who had helped put her husband through 
Harvard Business School, gave up her career as a 
music teacher to rear two daughters, created an 
elegant home, gave dinnerparties for bis clients and 
co-workers, accompanied nim on business trips and 
provided daily support — all of which contributed 
to his success, 

Mr. Wendt disputed her claim, saying in court 
that his wife was not interested in his business. ■ 
The case is also important because it deals with 
how assets like stock options should be valued in a 
divorce settlement — an issue for a growing number 
of couples as executive pay has soared, fueled by die 
more frequent use of stock options and deferred 
compensation. 

Both sides said they were happy, to some extent, 
with the ruling. 

“One point we were trying to make is that these 
valuable future assets are marital property, subject 
to division,” said Arnold Rutkin, a lawyer for Mrs. 
Wendt He said the award was worth more than $20 
million — Mr. Wendt’s figure — but he could not 
yet tell how much more. 

He added: “We are not happy with the amount, 
but we definitely made the point Some of the boys 
in the boardrooms will be really unhappy when they 
read this.” 

In a statement, Mr. Wendt said, “Despite the 
extensive publicity to the contrary generated by 
Mrs. Wendt, the principal issue in this case was not 
the relative contribution of the nonworkiiig spouse 
versus tbe working spouse, but rather the division of 
future earnings sifter the nonworking spouse has 
been generously rewarded.” 

Neither side ruled out an appeal. 

Judlge Tierney said he would give his reasoning in 
a 450-page document, a draft of which he waved 
before Mis. Wendt, various lawyers and about 30 
reporters who had crowded into a small courtroom 
in Stamford, where GE has its headquarters. Mr. 



Loma Wendt outside the court Wednesday. Said she gave up 
her career to advance her husbaiuTs, A judge apparently 
decided that this did not entitle her to half his assets. 


Wendt, who was delivering a speech in New Jersey, 
was not among (hem. 

The Wendts, high school sweethearts in tiny Rio, 
Wisconsin, married soon after they graduated from 
college in 196 5. Mrs, Wendt said that when her 
husband told her he wanted a divorce in 1995, she 
was shocked that be offered her a settlement worth 
about $10 million. She felt entitled to half including 
his stock options, restricted stock holdings, deferred 
compensation and pension benefits. Her side valued 
the estate at $100 million, a figure that may now be 
as Hi gh as $130 million as the stock market has 
rallied. 

Mr. Wendt’s side argued that assets such as the 
stock options, which have a future value, should not 
be part of the tally because they would be contingent 
on his performance after the divorce and on his 
continued employment at General Electric until his 
retirement. In the last year, his side said, die estate's 
total value has grow 0 to perhaps $45 million from 
around $25 milli on. 

In the settlement. Judge Tierney struck a course 
that bowed to Mrs. Wendt’s reasoning but delivered 
a result closer to Mr. Wendt’s view. In addition to 
homes in Stamford and Florida worth about $2.8 
million, be gave Mrs. Wendt half the cash, stockand 
bond holdings, worth $7.9 million; alimony of 
$252,000 a year, and an annual cash payment equal 
to half tbe projected dividends from 199,000 shares 
of restricted stock. 

Mr. Wendt gets to keep the stock, hut the judge 


also awarded Mrs. Wendt 
half the value of his qual- 
ified pension plan and 
about 28 percent of bis 
long-term < performance 
award— neither of which 
will be available until the 
future. * 

Mrs. Wendt will also 
get private-dub member- 
ships m Connecticut and 
Florida " and a Macy’s 
credit card entitling the 
holder to a 45 pertentlife- 
tjme discount at the de- 
partment store chain. 

Mr. Wendt will keep 
all of his supplemental 
pension plan, his 401k re- 
dremeni plan, all deferred 
compensation and vari- 
ous properties. 

As in most other stales, 
divorce law in Connecti- 
cut calls for equitable, not 
equal, distribution of a 
couple’s assets, leaving 
the judge to consider fee- 
length of the marriage, 
V. Said she save up contributions each 

» ■ ° ~ partner made, fault, need 

[idge apparently and other circumstances 
uf his assets, in dividing the pot. 

Da equitable distribu- 
tion states, judges have 
tended to mandate a 50-50 sjrfitonly if the assets are 
worth less than $10 million to $15 million. Any- 
thing beyond that goes to the breadwinner, usually 
the husband — a concept sometimes known as the 
“enough-is-enougfa” standard because judges feel 
a spouse, usually the wife, who is gening millions in 
' a divorce settlement will have more than enough to 
' main tain her lifestyle. 

C OURTS have differed on whether to divide 
assets that were accumulated during a mar- 
riage but have value that will be realized in 
the future. The New York state Court of 
Appeals recently reversed a Iowa: court’s conclu- 
sion that stock options granted during a marriage are 
entirely marital property, calling for a time-based 
formula to determine who is entitled to what. 

The ruling agreed with an influential decision by 
the Colorado Supreme Court, which held that op- 
tions granted during a marriage for past service are 
marital property, while those granted for services 
after a divorce are not 

Mrs. Wendt recently started the Foundation far 
Equality in Marriage to advocate that marriage is a 
partnership of equals. Through it, she hopes to make 
the case that society should view both monetary and 
nonmonetary contributions to a marriage with equal 
weight In a statement issued before the ruling, Mrs. 

’ Wendt said, “My new career will be devoted to 
raising these topics and convincing the courts to 
examine the value of the parent's love versus a 
spoase’s paycheck.” 


- . By Don Phillips 

J • Washington Past Service 

1 WASHINGTON — The Federal 
Aviation Administration has formed a 
.technical group to report within six 
months on ways to prevent aircraft fuel 
tank explosions, saying the agency has 
concluded thar "improvements can be 
' made that will greatly reduce, if uot 
eliminate” explosions such as the one 
* the brought down Trans World Airlines 


Flight 800 last year. 
However, the avia 


However, the aviation s administrat- 
or, Jane Garvey, rejected all the Na- 
tional Transportation Safety Board’s 
recommendations for short-term ac- 
tions to reduce possible explosions in 
Boeing 747 center fuel tanks, including 
putting colder fuel into the tank just 
before takeoff. 

The safety board investigated the 
crash of the Paris-bound plane that went 
down off the coast of New York on July 


17, 1996, killing 230 people, and is 
holding a weeklong hearing on the crash 
in Baltimore next week. The safety 
board can only recommend new safety 
actions to the Federal Aviation Admin- 
istration, which has regulatory power. 

The board has determined that die 
center fuel tank of the Boeing 747 ex- 
ploded, bringing down the plane. Tbe 
source of ignition remains a mystery. 

However, the board recommended 
last Dec. 13 that action be taken to 


U.S. Rejects Quick-Fix Approach to Airliner Fuel Tank Blasts 


prevent explosive mixtures from form- 
ing in the tank. 

Ms. Garvey, in a letter Wednesday to 
the safety board’s chairman, Jim Hall, 
essentially said that there was no quick 
fix to the problem, but that a long-term 
solution was possible. 

This is a change in position for the 
aviation agency, which in the past has 
said the only way to prevent tank ex- 
plosions is to be certain there is no 
possible ignition source inside the tank. 


New York Timet Service • 

RIGA, Latvia. The. ' torturous 

events of the 20th century "don't interest 
her modi She holds nd views on na- 
tionalism. She has always been bored by 
crusades and movements. 

But more- than moat people in the 
world today, Pauline KLavina lives wife, 
the burden of history. That is because at 
the age of 80, Mrs.-Klaviua is one of the 

lafft Liv onians 

When she dies die will take to her 
grave much Of a heritage that has been 
alive, and at times booming, foe- 5,000 
years. ... 

Itishafofoinmginenow.lcxAjngiiitD 
her frail, fading eyes, that Livonians 
once ruled die icy seas around the Baltic 
countries, sweeping down more than a 
millenniu m ago from Finland through 
what is now Estonia and Latvia. 

“There are at least four of us left,’* 
she said, referring to people who con- 
sider Livonian their native language. 
“There may be more. I like to dunk we 
will all make it past the year 2000 — 
into one more era. But I prefer not to 

fliinlc ahrmt H y . wiH " 

Yet, even she knows that the. end is 
surely - near. Languages depend, of 
course, outhe vitality of fee people who 
speak them. And in tins era or super- 
powers, telephones, tbe global village 
.and economic integration, they are van- 
ishing at a rate that has never been 


More than 6,000 languages are 
spoken in the world today, bht linguists 
say that within a generation at least half 
of than will be gone. 

‘■’“The world is getting very small, and 
these cultures are the victims," said 
Kersti Boiko, chairman of the Finno- 
Ugric language program at die Uni- 
versity of Latvia. Linguistically, Livo- 
nian is related to txuthem' tongues like 
Estonian, Finnish, Votish and Karelian. 

“Of course, Finnish and Estonian 
will remain,’ ’ die said. “Butin 50 years 
the others will be gone.’* . 

It is a harsh sentence, but this is not 
the first centmy in which die power of 
individual lan guag es atrophied. Latin, 
speakers once ruled the world. So who' 
should care about the disappearance of a 
moribund fishing culture mat started its 
decline more than 400 years ago. 

■“I.have never understood,” said 
Mara Zinrite, a researcher in cultural 
history at the Latvian Academy of Sci- 
ences, 1 ‘why it is more important to save 
’ the tiger than to save a culture feat has 
been on Earth for thousands of years. 
That just never made sense to me.” 

Mre. Zinaite is working on an oral and 
photographic history project in an at- 
tempt to preserve what she can of Livo- 
nia in today’s Latvia. ‘ V • ‘ 

. “Cultures are not like restaurants or 
eveojpeople,” she said. - 

“For humans it is simple: You are 
born, you die and then you are gone. But 
cultures can live forever. Why should 
we have to go around searching for the 
shards of a society as if it were ancient 
pottery?- But once a language is gone, 
that is what we have to do.” •. 
.Livonians have- always been sea 
people. Their folk calendar divided the 
year into two parts: the time for - fishing 
and fee period, when the seas were 
rough, to make nets. Their marshy laud 
was poor, and fanning was nearly im- 
possible. Their myths involve boats and 



- •••?•’< 


4 




. . j-V; • 


l i -h 


V.M : 

- ^ 



sT 


KfMnd Spocta/Tto New Yoifc T< 

Pauline Klavinasays of her culture: 
‘There are at least four of us left.’ 

brave men fighting towering waves. 

Today, Livonia is the descriptive 
term for an 80-kilometer (50-mile) strip . 
offend along the coastal regfoo of north- af 
western Latvia. * 

Uldis Balodis, a Latvian living in fee 
United Staies who has studied the culture, 
says feat about 2,000 people live there, 
but none consider Livonian their native 
language. And feat is why most experts 
believe feat fee culture is in peril. 

Mrs. Ziruite is doing everything pos- 
sible to prevent fee day whoa Livonian 
disappears. She offers a class in its 
culture and has encouraged young 
people of Livonian ancestry to try to 
study the language. 

The Soviet Union did much to hasten 
the death of Livonia by moving many of 
itepeopfefrom their coastal villages and 
by forbidding the language to be taught 
in schools. Since the end of Soviet 
power, Latvia has helped to re-establish 
the heritage. jl 

Every summer there is a Livonian W. 
folk camp attended by about 10 children 
in fee town of Maarbe, on the northwest 
coast There are feasts and gatherings 
and classes and traditional games. 

But none of the children speak the 
language of feeir ancestors. 

“It is hard, ” said Renate Blumberga, 

26, a student of Livonian history and 
language. Ms. Blumberga speaks only a' 
little of the language, but she is de- 
termined to leam more. 

“I have decided feat if I can do 
something to keep this language liv- 
ing,” Ms; Blumberga said “it will.be a 
“worthwhile goaL’ ’ 

; Mrs. Klavma certainly agrees. Speak- 
ing in Latvian, sjje says that sometimes 
even she loses the ability to talk in her 
native language. Since her husband (tied 
30 years ago, the -opportunities for cas- 
ual conversation are few. 

But she still dreams in Livonian, she 
insists, and she willingly recites her 
poetry in the language as well.. You can 
almost hear fee loss in rhythms of heruh 
sad speech: £ 

“My language is the tongue of the 
sea 

It sounds like a divine voice 

/ shall never forget it 

As I cannot forget my mother." 


TRAVEL UPDATE 


WEATHER 


heritage of 
yesterday. . .today. 


Hotel Sofitel 


IS Niio Qimji Shut. Hanoi 
SmuirBtMiurOFVcruii. 
Tel: (54.41 8.2W.919 
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Japan Assists Syrian Sites 

DAMASCUS (API — Japan agreed Thurs- 
day to give Syria $433,000 to purchase tech- 
nical equipment for fee restoration and main- 
tenance of Damascus Citadel, an 11th- 
century monument. 

Tbe two countries have also agreed to 
jointly establish a museum for natural history 
in Asaad Pasha Khan, in old Damascus, to 
house artifacts found by S yrian- J apanese ar- 
chaeological teams in several prehistoric sites 
in Syria. Work on fee museum will begin by 
the beginning of 1998, officials said 

Bus Strike Slows Marseille 

MARSEILLE (Reuters) — A strike by bus 
and trolley-car drivers Thursday paralyzed 


road traffic in this Mediterranean city just 
hours before fee World Cup soccer finals 
draw was due to take place. 

The stoppage, to press demands for wage 
increases, was due io last 24 hours. Tbe city's 
two subway tines, however, were running 
normally. 

Aeroflot-Russian International Airlines 
pilots’ union announced Thursday a one-day 
strike for Dec. 12. (Reuters) 

British Airways said Thursday that it 
had extended a code-sharing agreement with 
Quotas to cover the “kangaroo route” be- 
tween Britain and Australia. Passengers will 
be able to choose between all flights operated 
by fee two airlines on services between Lon- 
don and Australia via Singapore. (AFP) 



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Correction 

A chart on Page 1 in Thursday's editions incorrectly de- 
scribed changes in fee value of fee currencies of South Korea, 
Indonesia and Thailand this year as well as of tbe Mexican 
peso in 1994-95. The percentage changes .in fee chart rep- 
resented fee rise in the value of the dollar against those 
currencies, not the fell in those currencies against fee dollar. 


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INTERNATIONAL HERALD TRIBUNE, FRIDAY, DECEMBER 5, 1997 


PAGE?; 


TEE AMERICAS 


Within the U.S., Dramatic Differences in Longevity 

America Has Some of the Longest-Lived and Shortest-Lived Populations in the World, Study Finds 


By David Brown 
and Avram Goldstein 

Washington Post Service 

WASHINGTON — The United 
States has some of the longest-lived 
populations seen anywhere in die world, 
as well as rockets of people whose 
aspected life spans are shorter than 
“osc in some African countries, ac- 
cording to a study. 

At the long-lived end of the spectrum, 
Asian women in northern New Jersey 
nave a life expectancy of 97.7 years. At 
die other end, Oglala Sioux men of die 
Pme Ridge Reservation in South Dakota 
live an average of 56.5 years. The Indian 
life expectancy is similar to ones seen in 
many countries of sub-Saharan Africa 
and is lower than the average of any 
nation in the Western Hemisphere ex- 
cept Haiti, the study found. 

These statistics are part of a study by 
epidemiologists ar the Harvard School 
of Public Health in Boston and the fed- 
eral Centers for Disease Control and 
Prevention in Atlanta. The project, be- 


gun in 1996, seeks to make sense of the 
huge body of health statistics available 
for every county in the. United States. 

The study's preliminary findings 
were presented at the 12th Chronic Dis- 
ease Conference, being held in Wash- 
ington through Friday. The project is an 
outgrowth of (he Global Burden of Dis- 
ease study, published in 1995. In it, a 
learn of epidemiologists analyzed die 
contribution that 107 different diseases 
and injuries make to the death, disability 
and chronic ill health in each of die 
world's countries. 

The U.S. study eventually will 
provide similar insight into die health of 
Americans at a level of detail reaching 
down to nearly every county. 

While the finding that different eth- 
nic, racial and regional populations in 
the nation have differentufe spans is not 
new — many studies have shown it — 
the size of die differences is larger than 
previously, believed. 

For example, the globe’s shortest- 
lived national population is men in the 
West African country of Siena Leone, 


who live an average of 45 years. The 
population with the greatest longevity is 


is 83 years. The difference between 
tiiose two groups is 38 yeare, slightly Less 
than the gulf that separates mate Oglala ■ 
Sioux Indians in South Dakota and Asian 
women in Bergen County, New Jersey. 

“The biggest .surprise was the mag- 
nitude of the range of differences in life 
expectancy,” said Christopher Murray, 
a physician and health economist at the 
Harvard School of Public Health, who 
leads the project “I am concerned by 
this incredible spread.” 

The findings show that men in five 
South Dakota counties — which include 
the Fine Ridge Reservation — have the 
shortest life spans, 61 years on average, in 
die United States. 

In contrast, men in South Africa and 
India have a life expectancy of 60 years. 
Men in Bolivia live about 59 years. 
Russian men, whose., declining life ex- 
pectancies have shocked many epidemi- 
ologists, live about 65 years. 

The highest life expectancy for men 


of all races in the United States was seen 
in two counties in Utah, where ir is 77.5 
years. The report did not address- rea- 
sons for the regional and ethnic dif- 
ferences, although further analysis to be 
done over die next year may wed light 
on that. 

Mr. Murray and his colleagues found 
that the differences in longevity have 
grown in recent decades. While die av- 
erage life expectancy of every major 
ethnic, sex and regional group in the 
United States has increased since 1980, 
the life spans of the 2 percent of men and 
women with shortest longevity have 
barely budged. This suggests' there are 
pockets where recent huge gains in 
health — fueled by rising income, 
healthier lifestyles and better medical 
care — have barely been felt. 

Mr. Murray noted thar the trend par- 
alleled -the widening income gap be- 
tween the poorest and die richest Amer- 
icans. 

“As an economist, I am tempted to 
say that is part of the reason,” he said. 
“But I don’t know it’s die reason.” 


Washington Men Stand Out 
With a Low Life Expectancy 


■ , Wd&ingron Post Service • 

WASHINGTON — Men in Wash- 
ington have nearly the shortest life- 
span of any population group in the 
United States, while diefr counter 
parts across the Potomac River in . 
Fairfax County, Virginia, have nearly 
the longest, an analysis of longeyhy 
ha&fbund. . . . 

As average mao's life span in the 
two places differs by 143 years, mak- 
ing male longevity in these, abutting 


' The longest life expectancy fcfr 
men of all races wax seen in two 
counties in Utah, where life span av- ■ 
erages 773 years.. Fairfax County in 
Virginia ranks fourth at 76.7years. • 
'fit’s not surprising to me, unfor- 
tunately,” said Allan Noonan, direc- 
tor of the Department of Health ifr 
Washington, who has been in office 
since September. “If yoii tookatmosft 


For black men in-Washington, the 
life expect an cy of 57*9 years in 1990 
is second shortest in the country, pre- 
ceded by that of the Oglala Sioux men 
of the Pine Ridge . Reservation in 
South Dakota, who live an average of 
563 years. For men of all races, 
Washington has the second-shortest 
life expectancy when die. country is 
divided into more than 2, <XW distinct 
cities and counties. Men here live on 
average 622 years. 


tar black men is usually about 20 
years lower than overall, and usually 
the lowest of any population group. 
K’s sad but, I r m sure. true.”. . . . 

About 67 percent of Washington’s 
population is Made Mr. Noonan said 
he believed the lives of African- 


timited access to medical care and 
delayed dia&iosis of disease, and u 
high homicide rate. ! 

- “You take those factors, and tie 
them in with poverty and other social 
issues, and tins is die result,” he said. 


Mexico Crime Fight 

Zedillo Vows to Battle Police Graft 



Can Sex Bias Be Man to Man? 


Tfte Associated Press 

MEXICO CITY — Saying 
he shares the nation’s indig- 
nation over a rising crime 
wave. President Ernesto Ze- 
dillo has pledged to crack 
down on organized criminals 
and police corruption while 
increasing the amount spent 
fighting crime by more than 
25 percent next year. 

In a nationwide address 
from his residence, Mr. Ze- 
dillo promised to send draft 
legislation to Congress that 
wouldrefbrm the constitution 
and Mexico's antiquated 
crime laws to stiffen penalties 
against criminals. 

He also urged Mexicans 
disillusioned by police cor- 
ruption to begin reporting 
crimes again. 

“Every crime that is not 
reported remains unpunished, 
and encourages new crime," 
he said. 

The president’s speech fol- 
lowed a demonstration Sat- 
urday in Mexico City against 
rising crime in the nation’s 
capital. 

The police said there were 
about 1 3,000 protesters while 
newspapers estimated about 
60,000. They carried signs 
saying “Enough is enough," 
and “Enough crime, Mr. 
President, we want something 
done.” 

In his address. Mr. Zedillo 
said that "as a citizen, as a 
family man. and as president, 
i fully share die indignation 
and worry all Mexicans have 
about public insecurity." 

An average of 628 crimes 
involving weapons and re- 
sulting in six deaths are corn- 
mined each day in Mexico 
City, a city of 8.5 million. 

Antiquated crime laws — 
some dating from the early 
1930s — allow crime sus- 
pects to escape prosecution 
on technicalities. Many are 
repeat offenders. 

Mr. Zedillo said the gov- 
ernment was establishing a 
federal data bank to keep 
track of corrupt police of- 
ficers, preventing those fired 
in one state for corruption 
from being hired in another. 

He also said he was form- 
ing a public security team in 
his cabinet that will meet at 
least twice a month to draw up 


anti-crime programs and 
make sure they were put into 
effect - 

The team will include the 
attorney general and the sec- 
retaries of defense, navy, in- 
terior , die Treasury, commu- 
nications and transportation, 
Mr. Zedillo said. 

The president also prom- 
ised to increase crime-fight- 
ing appropriations in next 
year’s budget by S334 mil- 
lion, or 27 percent. 

Changes in legislation in- 
clude stiff penalties for illegal 
possession of firearms, Mr. 
Zedillo said. Gangs openly 
carry AK-47s and other 
powerful assault weapons. 

Mr. Zedillo said a number 
of measures his administra- 
tion had taken thus far, in- 
cluding a reform of the ju- 
diciary, “have clearly been 
insu fficient *' 

■ Spouse-Rape Measure 

Female legislators and ac- 
tivists are exuberant about 
Congress’s approval of a 
hotly debated bill that would 
make rape by a spouse a 
crime. The Associated Press 
reported from Mexico Cily. 

The Law against Domestic 
Violence outlines prison sen- 
tences of 8 to 14 years for 
those convicted. 

“This bill is a victory that 
women have been looking for 
for many years,” said an in- 
dependent congresswoman, 
Carolina O’FamL 

The measure, which passed 
the lower house, 254 to 90, on 
Tuesday, split the three major 
fames. Some members of the 
right-center National Action 
Party objected to treating hus- 
bands the same as strangers in 
rapes. 

“Should a husband be giv- 
en die same sentence as a rap- 
ist?" asked a National Action 
congressman, Emilio Gonza- 
lez. 

If approved by the Senate, 
the bill would 'go to Mexico’s 
president to be signed into 
law. 

Expert reports prepared for 
the debate indicate that do- 
mestic violence — including 
beatings, rape and psycholo- 
gical abuse — is on the rise 
but is seldom reported and 
even more rarely punished. 



BRIDGE COLLAPSE — A 43-year-old worker died and two others were injured 
after a bridge in lager, West Virginia, collapsed during a construction project. 


Reno Happy With Freeh 

WASHINGTON - — Attorney General 
Janet Rend says that despite his public dis- 
agreement with her decision not to appoint an 
independent counsel. Louis Freeh, the FBI 
director, is “a pleasure to worit wife,” and she 
said he was not letting himself be used by 
Republicans to attack President Bill Clinton. 

At her weekly news conference Thursday, 
Ms. Reno emphasized that her campaign fi- 
nance task fence is still pursuing a wide range 
of suspect transactions and practices despite 
her rejection of an outside prosecutor to ex- 
amine telephone solicitation by Mr. Clinton 
and Vice President A1 Gore. 

Asked about Mr. Freeh's advocacy of a 
conspiracy investigation, Ms. Reno did not 
foreclose that idea. But, she said, “It is in- 
appropriate” to deal in “abstract theories.” 
She added. "A conspiracy has to be a con- 
spiracy to violate specific laws." 

Representative Dan Burton. Republican of 
Indiana, has requested that Ms. Reno and Mr. 
Freeh explain their differences at a hearing 
Tuesday before the Housd Government Over- 
sight Committee, which he heads, that is 
investigating campaign financing. Ms. Reno 
said she was trying to fit an appearance in 
despite her scheduled meeting with foreign 
justice ministers that day. 

While the White House press secretary, 
Michael McCrary, conspicuously refused this 
week to repeat Mr. Cun ton’s previous ex- 
pressions of support for Mr. Freeh, Ms. Reno 
lavishly praised trim Thursday. 

“He is a professional. He is dedicated. He 


is honest He wants to do the best job possible. 
And Ijust feel very comfortable in my work- 
ing relationship with him." ■ (AP) 

Bush onCampcugn Trail 

MIDLAND, Texas — Governor George 
Bush of Texas has opened his re-election 
campaign wife a. proud assessment of his first 
term and a renewed emphasis on “fee most 
important thing we do”: fee education of 
children. 

Wife his wife, Laura, at his side, Mr. Bush 
returned Wednesday to his hometown to kick 
off a six-day, 24-city tour of the state. Al- 
though his immediate goal is to become the 
first Texas governor to win back-to-back 
four-year terms, he continues to be mentioned 
as a leading candidate for fee Republican 
presidential nomination in 2000, adding a 
national spotlight to his statewide campaign. 

Mr. Bush, however, declined to say whether 
be would seek the nomination. “I don't know 
ifl will seek the presidency,’ ’ he told reporters. 
“I’m deeply concerned about what a national 
campaign would mean for my family.” (WP) 

Quote /Unquote 

The White House social secretary Capricia 
Marshall on calls from people worried they 
will not make fee cut for this year’s guest list 
fra President Clinton’s Christmas parties: 
“We’ve had to cut back; it’s expensive. There 
are constraints, and we have to Jive wife 
them.” (AP) 


By Linda Greenhouse 

New York Times Service . 

WASHINGTON — When 
Congress outlawed sex dis- 
crimination in employment, 
as pert of the Qvil Rights Act 
of 1964, it did not refer to men 
ar to women but rather to pro- 
tecting “any individual” 
against discrimination “be- 
cause of" the person’s sex. 

Ii took more than 30 years, 
but an obvious question about 
feat law, in' fee context of 
sexual harassment, reached 
fee Supreme Court on Wed- 
nesday. Tf h arygia-rnnH vi ffrim 
are of fee same sex, does the 
law apply? 

The justices seemed to find 
fee answ ef obvious as well, as 
they listened to an argument 
over whether a male oil-rig 
worker could invoke the law 
to pursue a ptawn of sexual 
harassment against his framer 
employer and male co-work- 
ers who singled him out for 
crude sex play and threats of 
rape on a drilling platform in 
the Gulf of Mexico. 

Afederal appeals court had 
dismissed fee suit on die 
ground feat, no matter what 
the facts, the law could never 
apply to harassment between 
people of fee same sex. 

Toward fee raid of the 
bourlong argument. Chief 
Justice William Rehnquist 
was unusually blunt in ex- 
pressing bis view of the case. 
3 T don’t see how we can pos- 
sibly sustain fee holding ’ of 
fee appeals court, he said. 

The chief justice spoke 
with even more than usual au- 
thority as the author of a 1986 
opinion in which the court 
unanimously held that sexual 
harassment — in feat case of a 
female bank employee by her 
male supervisor — ; was a 
form of sex discrimination 
prohibited by Title VII of fee 
Civil Rights Act 

“Without question, when a 
supervisor sexually harasses 
a subordinate because of fee. 
subordinate’s sex, that super- 
visor ‘discriminates’ on fee 


basis of sex," Mr. Rehnquist 
wrote in feat case. Mentor 
Savings Bank vs. Vinson. 

- Applying feat principle to. 
fee sanx^sexharassment con- 
text is not necessarily as 
simple as it looks; feat was 
evident from the argument 

'What does fee notion of 
* ‘discrimination” mean in an 
all-male work environment 
like the offshore oilrig in this 

It took more than 
30 years for an 
obvious question 
to reach the 
Supreme Court. 

case? What if a harasser who 
malcBs » man his vie ttm would 
be equally obnoxious to a 
woman, if one happened to be 

available?'. 

Those are questions fra fee 
next case, not for this case, 
Nicholas • Canaday 3d, fee 
lawyer for the oil-rig worker, 
Joseph Oncaie, told fee court. 
All me court needs to decide 
now^Mr. Canaday said, is not 
“the outer-limits or paramet- 
ers of same-sex harassment, 
or fee methods of proof of 
such a claim,” but . only 
‘ ‘whether a same-sex sexual- 
harassment claim exists as a 
matter of law." That for, at 
least, the justices appeared 
.readytogo. 

“You’re not asking us to 
find discrimination; you're 
simply asking us to say feat 
the fact feat feis was male on 
male doesn’t prevent a find- 
ing of discrimination," Mr. 
Rehnquist said, to Mr. 
Canaday’s ready agreement. 

Harry Reasoner, fee lawyer 
for fee defendants, made little 
headway as he tried to defend 
his clients* lower-court vic- 
tory before the 5th U3. Cir- 
cuit Court of Appeals, inNew 
Orleans. 

“There is not fee slightest 
evidence that Congress inten- 
ded to. federalize relation- 


ships between men arid 
men,” he said, noting that, the 
behavior on fee ofl rig; if 
proved, would violate several 
Louisiana laws. To "expand 
the statute” to apply to same-; 
sex harassment would "im-- 
plicate serious concerns ’ of 
federalism," he said. 

' Mr. Reasoner agreed wife 
Justice Anthony Kennedy's 
observation feat under fee 5 th 
Circuit's rationale, a demand 
by a gay supervisor for sexual 
favors from male employees 
would not be considered 
sexual harassment 

“If we think that’s what 
they held, I guess we have to 
say that’s wrong,” Justice 
Sandra Day O’Connor said, 
referring to fee judges of fee 
5feCscuit 

- Mr. Reasoner said that if 
same-sex harassment were 
recognized, it would be too 
difficult for courts to draw- 
lines between situations feat 
might or might not come 
within fee law. 

"I grant it’s difficult to 
work out,” Justice Stephen 
Breyer said, “but how does 
feat mpke this law different 
from antitrust?” 

The . Equal Employment 
Opportunity Commission has 
treated same-sex harassment 
as covered by the Civil Rights 
Act since it 'first published 
guidelines on the subject in 
fee early 1980s, and fee Clin- 
ton administration entered fee 
case, Oncaie vs. Sundowner 
Offshore Services. No. 96- 
568, an Mr. Oncaie "s behalf. 

A deputy solicitor general, 
Edwin KneedJer, shared the 
argument time on Wednesday 
wife Mr. Oncale’s lawyer. 

“The purpose of Title Vff 
is to render irrelevant a per- 
son’s sex in the workplace," 
Mr. Kneedler said. 








PACE 4 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, DECEMBER 5, 1997 


INTERNATIONAL 


A ‘Greener’ Europe 


Carbon Dioxide Emissions in the United States and Europe 


Pushes to Meet Goals 


Vehicle Emissions Seen as Major Obstacle 


European emissions of carbon tfioxide, the most common heat-trapping gas, are much lower than in the United. 
States, and Europe reaps a greater economic return for each pound of carbon dioxide it emits. 

. Carbon dBoxkia emissions 


All figures 
are for 1995 


Carbon dioxide emissions 

Millions of tons 


Carbon dioxide eminone 
par capita 


tor each dollar of 
grow domestic product 


By Edmund L. Andrews 

AW York times Service 


LUDWIGSHAFEN, Germany — 
High-pressure steam heat has always 
been the life force of BASF AG’s giant 
chemical complex in Ludwigsbafen, 
where one street is named Ammonia and 
another is named after a catastrophic 


trialized world's discharges from 1990 
levels, compared with the Clinton ad- 
ministration's call for “stabilizing" 
emissions at those rales. 

Compared to U.S. business groups, 
European industry has been more re- 
ceptive to the costly cleanup. Manu- 
facturing groups are pursuing their own 
ambitious clean-air commitments. The 


United States 




The ‘Gibberish’ 


Europe 

Germany 


By Kevin Sullivan 


France 


explosion that killed scores of workers in debate here is not about whether to make 


the 1920s. 

The old power plant still bums coal by 


the bargeload, pumping the steam as part 
of the process of making plastics and 


fibers, and spewing about 4 million tons 
of so-called greenhouse gases into the 
atmosphere every year, until recently. 


atmosphere every year. Until recently, 
this complex burned so much coal that 
the company owned its own mines. 

Yet as American and European ne- 
gotiators battle in Kyoto, Japan, over a 
proposed treaty to reduce the output of 


steep reductions in carbon dioxide out- 
put, but how steep those reductions 
should be. 

By any measure, Europe will have a 
hard time meeting its own ambitious 
goals. Pollution from cars and tracks is 
soaring, as traffic volume increases far 
more rapidly than automobile efficiency. 
Manufacturing executives warn that even 
big improvements in efficiency will be 
diluted by growth in overall production. 

And European industry has been 


Britain 


Soufoa: International figancy 


Tbe New York Times 


Germany plunged by nearly half, to 172 
million tons from 305 million. 


million tons from 305 million. 

Britain got a similar lift when the 


‘But when you come to 15 percent affair with cars. Officials at the fed- 


KYOTO, Japan — If you drink sinks 
are where you put dirty dishes, and: 
bubbles are what you use to dean them, 
you should stay away from, foe global 
r- i y morf summit meeting here. 7 
■ Representatives of more Than 150 
countries who are gathered to address 
global wanning are conducting their de- 
bate in a language of acronyms, sci- 
entific terms and confenrace^goef short- 


Ullt nubll JUU kUUik LU IMkVUl W‘>ui — — — 1 , , , ■ I I 

reductions, you come into the area of eration emphasize that the demolition of hand that even veteran enyir onmental- 
»h; n u A>/.>nnDc anX nnu/pr nlont« in the fflrmer isrs have a hard time roilowine. 


regrets policy,’ and so we think the 


government abandoned protections for current goals are too ambitious." 


greenhouse gases implicated in global fighting various proposals for stiff new 


domestic coal producers, which sparked 
a rapid shift to cleaner n antral gas. 

Part of what makes Europe look 
“greener," moreover, is nuclear power, 
an environmental villain in North Amer- 


factories and power plants in the former 
East Germany is complete. But while 


ists have a hard tune foliowin 
The hallways of Kyoto are 1 


Nor have European countries entirely existing factories will inevitably become diatter about sinks and bu bbl es and 
[tired out how to distribute die burden more efficient, those advances will also juicecans and at least two baskets or 


figured out how 


of making changes. Under the European 
Union’s so-called bubble concept, Ger- 


warming. this complex marks a fairly 
typical example of how the two sides 
often seem to be on different planets. 

. While American industry has warned 
that mandatory reductions would lead to 


carbon" taxes that are tied to the use of ica. Nuclear power supplies 75 percent 


fossil fuels. 

"We are very skeptical about the 
European goals," said Joachim Hein, 
head of environmental policy at the Ger- 


of the electricity in France, 50 percent in 
Sweden and 30 percent in. Germany. 


Union’s so-called bubble concept, Ger- 
many agreed to assume a huge share of 
the total European burden — a 25 per- 
cent reduction in emissions by 20 1 0. The 
bargain would allow poorer countries 


be diluted by continued growth in pro- gases, none of which m ea n what they 


duction. 


sound like. There is a Group of Seven 


Pollution from cars and trades is even countries, a Group of 21 anda Group of 
im ihrmti>ni'no While «*rs are pen- 77 that is actually a group of more than 


compared with 20 percent in the United like Portugal and Ireland to increase 


factory shutdowns and hundreds of man Federation of Industry, an umbrella 


Stales. 

As Europe’s moribund 


economy 


thousands of lost jobs, BASF executives association that covers manufacturers of shows new signs of life, some energy- 


their emissions as much as 30 percent. 
The problem is that even if each coun- 


more threatening. While cars are gear 
erally much smaller than those in the 
United States, they are getting bigger, 
heavier and more numerous. The number 
of privately owned cars in Eastern Ger- 
many is expected to double between 1990 


say they are not worried. 

Regardless of what is decided in 
Kyoto. BASF executives predict, this 
complex will emit 25 percent less carbon 
dioxide in 2000 than it did in 1990. well 
ahead of the ambitious goals advocated 
by the European Union. 

"The goals are absolutely achiev- 
able," said Max Dietrich KJey, BASF’s 


everything from cars to steel to chem- 
icals,' which has pledged steep voluntary 
reductions. "It’s easy to put more bur- 
dens on industry, but tne problem is 
much more multifaceted than that. What 
we are saying is that industry will do its 
best" 

Critics note that Europe has benefited 
from a few one-time historical events. 


conservation projections are already 
falling by the wayside. The Netherlands 
Federation of Industry, for example, 
committed itself to improving its energy 
efficiency by 2 percent a year. But Dutch 
emissions of carbon dioxide actually in- 
creased slightly last year, largely be- 
cause of increased economic growth. 


try met its obligations, which is far from and 2005, and the number of commcxcdal 
assured, emissi ons 0 f greenhouse gases vehicles has been forecast to increase six- 


across Europe would- fall by only 10 
percent, and national leaders would still 
need to search for more cuts. 


fold during the same period. 

Car and truck traffic is already the 
second-biggest source of carbon dioxide 


By any meas ure, the efforts within after powerplants in the European Un- 
uooe far outpace anvthinz even con- ion, and officials predict traffic-related 


Europe far outpace anything even con- 
templated in die United States. The Ger- 
man Federation of Industry, for example. 


predict traffic-related 


77 that is actually a group of more man 
130. There is endless debate about CO 2 , 
CH 4 , Nm, SF 6 andperfluorocaibons, and 
a scientist from something called an 
aeronomy laboratory using cartoons to 
explain what it all means. • 

Even the acronym for the conference’s 
name looks like an overturned- scrabble 
box. Signs greet visitors at the irain sta- 
tion and every local hotel: "Welcome to 
UNFCCC-COP3," Which stands for the 
United Nations Framework Convention 
on Climate Change, Conference of the 


emissions will soar 39 percent by 20 10 if Parties, Third Session.’* 

_ T... n mm'nr tnsinr 


managing director in charge of financial The reunification of Germany in 1990 led 


1 ‘What we have done so far is follow a recently released audited results showing 


affairs. 


to a huge reduction in emissions, because 


Europe already releases less than half the former East Germany’s bankrupt and 
the volume per person of greenhouse filthy factories and power plants were 


gases as the United States. And it is 
urging a 15 percent cut in the indus- 


‘no-regrets’ policy,” said Wiel Klerken, 
director of environmental issaes at the 
Dutch trade association. "In other 
words, these are measures that are good 


a 20 parent reduction in carbon dioxide posals for so-called 


current policies remain in place. 

Yet thus for, European Union pro- 


emissions since 1990 in Germany. 

But those gains are in danger of being 
undermined by some of the same trends 


taxes ongas- 


quickly demolished. Between 1990 and anyway, even if there was not a C0 2 as in the United States: faster 


1995, carbon dioxide output in Eastern problem, because you save money. 


oline have gone nowhere, and many 
experts worry that introducing them 
would jeopardize national competitive- 


‘ ‘It’s a major, major problem,” said 
Constance Holmes, soon-to-be chair- 
man of foe Global Climate Coalition 
(known to all here as theGCC),a group 
representing major American industries, 
"ft’s UN-speak. ft's worse than Wash- 


manufacturing and an intensified love fused to follow suiL 


ness if other industrialized countries re- ington-speak. We have to constantly re- 


U.S. and Britain Rattle 
Their Sabers at Saddam 


- V f . . 


Cnipdnlbv Oar Staff FrnnDapoxha p ala Cl 

LONDON — Britain and foe United He 
States warned Baghdad on Thursday that In via 
they remained prepared to use military colon; 
force if Iraq did not bow to UN demands join a 
for unrestricted arms inspections. Mr 

The British defense secretary, George woulc 
Robertson, and foe U.S. defense sec- "we 


retaxy, William Cohen, said after talks, action.’* 


palaces and other installations in Iraq. 

He said that the British aircraft carrier 
Invincible, now on a port call in Bar- 
celona, would be moved into the Gulf to 
join a large U.S. force there if necessary. 

Mr. Cohen said that "we are hoping it 
would not become necessary" but that 
"we would not rule out any military 


that they hoped diplomatic pressure ou 


Iraq would succeed. 
But they said foal 


ut they said foal London and Wash- 


The two defense secretaries said that 
Richard Butler, head of foe UN Special 
Commission on Iraq, should demand on 


ington remained firm in their determi- his visit there next week that President 
nation to halt Iraqi attempts to produce Saddam Hussein give unqualified access 


chemical and biological weapons. 


"The clear message for the people of 
is country, and indeed for the whole 


this country, and indeed for the whole 
world, is that this crisis is not over,” Mr. 


to UN arms inspectors. 

Mr. Cohen said earlier, in an in- 
terview with the BBC, that Iraq still 
illegally held large stocks of the fatal 


Robertson said of Iraq’s refusal to allow nerve agent VX and foe biological 


inspections 


presidential 


3 Gunmen at Luxor 
Said to Be Students 


The .\ssociunnl Press 

CAIRO — Two of the six mil- 
itants who killed 58 tourists at the 
Hatshepsut temple near Luxor last 
month were medical students and a 
third was enrolled in an agricultural 
college, security sources said 
Thursday. 

The identities of the three gunmen 
came to light during the investi- 
gation that followed the massacre 
Nov. 17, the sources said. All six 
gunmen were killed in a shoot-out 
with foe police at foe site. A fourth 
attacker was a known militant who 
was identified the next day, but foe 
identities of foe other two gunmen 
remain unknown. The six attackers 
belonged to foe outlawed Islamic 
Group, or Jamaa Islamiyya, which 
took responsibility for the killings. 

In a statement Wednesday, the 
Islamic Group said that although foe 
gunmen were its members, the 
group’s leaders had not ordered 


killer anthrax — some of which has 
been "weaponized, put in the war- 
heads of Scud missiles." 

"These are people who have engaged 
in a massive killing of their own citizens 
— Kurds in foe north, Iranians with 
chemical weapons," Mr. Cohen said. 
"For them to say you must have a dif- 
ferent form of inspection is really the 
equivalent of foe inmate telling foe 
warden what the terms of his incar- 
ceration are going to be. " 

The inspectors are trying to determine 
if Iraq has complied with UN orders to 
destroy long-range missiles and 
weapons of mass destruction, as it agreed 
to do at foe end of foe 1991 Gulf War. 
Iraq contends font it has complied fully. 

In New York, foe UN secretary-gen- 
eral, Kofi Annan, urged foe Security 
Council to renew the oil-for-food pro- 
gram, under which Iraq can sell limited 
amounts of oil to buy food and medicine. 
He also urged foe council to ease re- 
strictions to encourage faster delivery of 
food and medicine to foe Iraqi people. 



min d ourselves that our vernacular is 
indecipherable gibberish. ’ ’ 

The odd lingo of COP3, as most 
people refer to the conference, is more 
than just eccentric and esoteric. It is a 
serious obstacle to public understanding 
of an extremely complex issue that all 
sides agree could permanently . alter 
global climate and economies. Officials 
here say that whatever agreement may 
be reached in Kyoto will have to be sold 
to foe public around foe world — but so 
far it’s all in a language that might as 
well be Martian. 

"The terminology is a world unto its 
own,” said John Grosser, vice president 
of foe National Mining Association, 
"ft’s difficult outside this fishbowl to 
get the average person on the street to 
understand why mis matters to their life. 


ft's like p ulling teeth.” 
Even for a sophistics' 









•£i 


Doth] SDviroUn/BroiprB 

A man taking a nap in Ben-Gurion Airport near Tel Aviv on Thursday as he waited for flights to resume. 


Netanyahu Fails to End General Strike 


Cimfdidl^OirSuffFromDI^Kkn 

BEN GURION AIRPORT, Israel — 
Prime Minister Benjamin Netanyahu 
failed in crisis talks Thursday with his 
finance minister and the country’s top 


strike would continue until foe govern- and damage public order. We would crease, 
ment agreed to cany out a pension re- hope that all is being done to solve the The "basket of gases” about 
form plan approved by the previous gov- problems.” here refers to foe greenhouse gases being 

eminent but canceled by Mr. Neeman. The airport allowed four planes car- targeted by the conference. So far, three 
About 700,000 publ ic sector workers, rying agricultural exports to take off. are being considered: carbon dioxide, 
a third of Israel’s employees, have been The strike also shut down the stock methane and nitrons oxide. Their com- 
on strike since Wednesday in one of the exchange, banks, oil refineries and state bined effect on the atmosphere is con- 
biggest labor protests in Israel’s 50-year industries, including defense firms,, sidered as one "basket” The American 
history. while water shortages were reported in delegates and others want to include 

A Tel Aviv labor court ordered foe foe south because of work disruptions at three more, which are found in smaller 
strikers back to work late Wednesday, foe state water company. quantities but are fax more potent than 

but Mr. Peretz defied foe injunction. The strike continued after Mr. Peretz, the original three. Leaving them out of 
The strike paralyzed foe airport, sea- who is also a member of Parliament for foe basket is ignoring at least half foe 
port and rail system, while government foe opposition Labor Party, rejected the problem, the Americans argue. 


union leader to end a strike that has been . a third of Israel 's employees, have been 
crippling foe nation for two days. - on strike since Wednesday in one of foe 


Even for a sophisticated audience fa- 
miliar with the basic science of how the 
emission of carbon dioxide and other so- 
called greenhouse gases contributes to 
global warming, the language of COP3 
is an ever-expanding mnw. of obscure 
terms. 

In most places, a forest is a forest In 
Kyoto, it’s a "sink.” That term is used to 
describe any source that absorbs carbon 
dioxide. In foe process of photosynthes- 
is, trees absorb dial greenhouse gas, so a 
forest constitutes a rink. Delegates here 
are debating whether foe effects of gas- 
eating forests should be factored in when 
considering a nation’s production of 
greenhouses gases. 

"Bubble” has been a big term here 
this week because it is shorthand for the 
European Union’s proposal to include 
all its 15-member nations under one 
umbrella, or bubble, when computing 
gas emissions. The Europeans have pro- 
posed a collective 15 percent reduction 
in emissions — but within the bubble, 
individual countries range from a 25 
percent redaction to a 30 percent in-, 
crease. 

The "basket of gases” talked about 
here refers to foe greenhouse gases being 
targeted by the conference. So far, three 
are being considered: carbon dioxide. 


rippling foe nation for two days, ■ 

Mr. Netanyahu summoned Finance 


Minister Yaacov Neeman and Amir 


The current phase of foe oil-for-food Peretz, head of foe Histadrut labor fed- 
deal expires at 0501 GMT Friday, and eration, to Ben-Gurion International 


foe Security Council hopes to vote on foe Airport outside 
renewal later Thursday. The 15 members talks before he 
held protracted negotiations on Wed- and Germany, 
nesday that highlighted foe divisions be- "I though it 


Airport outside Tel Aviv for emergency 
talks before he left on a visit to France 


history. 

. A Tel Aviv labor court ordered the 
strikers back to work late Wednesday, 
but Mr. Peretz defied foe injunction. 

The strike paralyzed foe airport, sea- 
port and rail system, while government 


them to carry out the killings. 

Among the militants identified. 
Homed Ahmed Arian and Mah- 
moud Mohammed Ahmed Abdel- 
Karim were medico] students at As- 
siut University in southern Egypt, 
and Saeed Salaxna Dessouki Ibrahim 
was a.student at on agricultural col- 
lege, a security source said. 


tween foe hard-liners — Britain and foe 
United States — and France and Russia, 
both sympathetic to foe Iraqi position. 

Even if the plan is renewed, Iraq’s 
UN representative, Nizar Hamdooc, 
said that “unless we see a distribution 
plan" approved "we are not going to 


though it would be useful to make offices were closed and essential public court injunction ordering biro to se nd his 


pump any oil." Diplomats said ap- 
proval of foe plan could take 


an effort before my political meetings in 
Europe to bring Peretz and foe finance 
minister together in an effort to halt this 
strike, which is continuing despite a 
court back-to-work order,” Mr. Net- 
anyahu said after foe meeting. 

"This is undemocratic and I hope I 


services operated on a minimal basis. 
Hundreds of stranded passengers 


waited in foe terminal at Ben-Gurion consid ering using state of ei 


Airport The national airline El AJ put up 
thousands of travelers in hotels and said 
it was losing millions of shekels. 

"The condition of foe Israeli ecoo- 


provai 

weeks. 


have been understood," he added before pray is raising concern today," Pres- 

r^n n/J? urn.. 


boarding his plane for Bonn. 


Ident Ezer Weizman said. "The strikes 


( Reuters. AP. AFP) Mr. Peretz said later on radio that foe hurt foe daily lives of the citizens badly 


regulations, dating from the. 1948 
Mideast war, to force strikers in key 
sectors back to weak. 

The union and foe government have 
been battling for months over pension 
reforms, austerity measures ana privat- 
ization plans. (AFP, AP) 


As More Sign Land-Mine Treaty, 
Nations Turn to M akin g It Work 


BRIEFLY 


' Acewe FratKV-Presxe 

' OTTAWA — More than 100 coun- 
tries have now signed the international 
treaty to ban anti-personnel land mines 
and they turned Thursday to foe work of 
carrying it oul 

About 125 signatures were expected 
by Thursday evening and more are ex- 


pected to sign later, according to Joelle 
Bounzois. the French delegate to foe 


Bourgois, the French delegate to foe 
United Nations Disarmament Confer- 
ence in Geneva. 

She predicted at least 140 countries 
would sign foe treaty. 


Russia on Tuesday extended by five 
years its ban on exports of anti-personnel 
mines that do not automatically self- 
destruct and are impossible to detect. 

The Chinese delegation here Thurs- 
day issued a statement pledging its sup- 
port for "the humanitarian efforts by the 
international community to overcome 
foe problem of land-mine casualties to 
civilians.” But Beijing did not make any 
specific offer. 

During a roundtable discussion 
Thursday. Karl Inderfurth. President 
Bill Clinton's special representative and 


Israel Checks False Intelligence 


JERUSALEM — The government is investigating false 
intelligence information that nearly brought Israel and Syria 
to foe brink of war last year, news reports said Thursday. 

The intelligence reports Israel received in foe summer of 
1996, from a source considered dependable, suggested that 


n , ■ - . r v , j “ — *— *~—* KVMW UOWU TT OU4 UdUUUU UU 

Syria was planning a lightning strike aimed at recapturing disperse angry pension-fund salespeople pressing for foe 
part of foe Golan Heights, foe Ha’aretz newspaper said. government to scrap tighter pension-fund regulations. 

The former head oflsraeli intelligence, Uri Saguy, called Labor protests have multiplied ahead of lemslativo *.!««_ 


The former head o: 


foe episode '‘very embarrassing and very bad,” but said the lions set for Thursday. Forma coal miners alto protested in 
damage would not be irreversible. (AP) Santiago on Wednesday against a severance padcage foev 

hflH rP/'Aivorl itlkiTa n /kOTOTi.M ot££i: _1_* _ 11 It . ‘ 11 . * 


na essential public court injunction ordering him to send his “I heard ‘basket of gases 7 a thousand 
a minimal basis. members back to work. times before I knew what it meant," said 

anded passengers Army radio said Mr. Netanyahu was Lee Poston, communications manager 
ial at Ben-Gunon considering using state of emergency for foe World Wildlife Fund (That’s the 
airline El A) put up regulations, dating from the 1948 WWF to most people here, but some 
i in hotels and said Mideast war, to force strikers in key other environmental groups know them 
rof shekels sectors back to work. playfully as "The Woof-Woofers.”) 

r me Israeli econ- The union and foe government have Groupings and coalitions and alli- 
today, Pres- been battling for months over pension ances are critical when so many nations 
said. The strikes reforms, austerity measures and privat- are trying to negotiate such a complex 
foe citizens badly izaaon plans. (AFP.AP) issue. The familiar groups are hereTsuch 

as OPEC (foe Organization of Petroleum 
Exporting Countries) and foe OECD 
(foe Organization for Economic Cooper- 

ation and Development). But foe global 

. warming process has also sprouted 
i Hercules C-13Q transport plane to drop 1,000 tons of food, something called JUSSCANNZ, pro- 
spected to feed 110 , 000 people, over aone-monfo period in nounced "juicecans,” which is a group- 
ie heavily flooded lower Juba River region. (AP) fog of Japan, foe United States, Switzer- 

land, Canada, . Norway and New 

Labor Protests Multiply in Chile - One American official this week said 

1 that group began five years ago at foe 

SANTIAGO — The C h ilean police used'water cannon to Rio Earth Summit when officials fro m 
lis pers e angry pension-fund salespeople pressing for foe foose nations realized they were prob- 
jovenunent to scrap tighter pension-fund regulations. ably the only nations attending who wer- 

Labor protests have multiplied ahead of legislative elec- already in some other grouping, 
ions set for Thursday. Forma 1 coal miners also protested in The G7 (foe Group of Seven Indus- 


River region. 


Labor Protests Multiply in Chile 

SANTIAGO — The Chilean police used water cannon to 


But even before foe signings on foe secretary of state for global humanit- 
treaty were completed, officials were arian demining, pledged $80 million this 


planning strategy to cany out its pro- 
visions by deactivating anti-personnel 


fiscal year for mine clearance. 

This brings to at least S250 million foe 


UN to Drop Food in Somalia deno,aKe woddngcond,nc 

NAIROBI — The UN World Food Program will begin FoT tk& R&COrd 
dropping food from planes for thousands of people trapped 

by rising floodwaters in southern Somalia, me agency said Libya has dismissed l 


had received, while agroup of flight attendants turned out to 
denounce wonting conditions. (Reuters) 


trialized nations) is here, and so is foe 
Group of 21, an organization that con- 
ducted a children’s postcard drive to 
support emissions-cuts. Another group 


formed specifically for the c limate de- 
bate, is foe G77, an organization of de- 
veloping nations that have banded to- 
gether to oppose proposals that they be 
required to cut gas emissions as much as 
industrialized nations. 

The <377 eventually became foe "G77 
plus Ch i na,” and now, despite its name, 
includes almost all the 130-plus devel- 
oping nations represented here. 


mines ana helping civilian victims of amount pledged by different countries 


land-mine blasts. 

Even foe three major holdouts, China, 
Russia and foe United States, made ges- 
tures toward the treaty. 


for foe next five years: Canada has 
offered 100 million dollars ($70 million), 
Japan says it will provide $80 million, 
and Norway has offered $20 million. 


Thursday. 

A spokeswoman, Lyndsey Davies, said foe drops would 
start Monday, following public service announcements on 
the BBC’s Somali-language service warning residents not to 
crowd around foe drop zones. She said foe agency would use 


Libya has dismissed U.S. press reports that it was 
developing a subterranean network of tunnels in the Libyan 
d^t to use for moving troops and equipment The New 
York Times reported Tuesday that Libya was building the 
network, quoting engineers who said it was designed for a 
clandestine military purpose." / avp) 







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PAGE 6 


INTERNATIONAL HERALD TRIBUNE, FRIDAY. DECEMBER 5, 1997 


ASIA/PACIFIC 


Indians to Go to Polls by Mid-March 


By Kenneth J. Cooper 

HUiAf/Wt* Post Service 


NEW DELHI — A reluctant India 
prepared for its second national election 
in less than two years after President 
K.R. Narayanan dissolved Parliament 
on Thursday and ordered a vote by the 
middle of March. 

The decision ended two weeks of 
political uncertainty and followed a rec- 
ommendation made Thursday by the cab- 
inet of the caretaker prime minister. Inder 
Kumar Gujral. whose coalition govern- 
ment collapsed last week when the Con- 
gress ff) Party withdrew its support. 

No new alignment that commanded a 
majority in the 545-member lower house 
of Parliament emerged from days of 
interparty negotiations. Mr. Narayanan 
said * ‘the people of India need a reprieve 
from political instability'* and deserve a 

g overnment focused on their “well- 
sing and betterment.” 

The independent election commission 
will announce dates for the midterm 
election in the world's largest democ- 
racy. It will be a huge undertaking that 
involves about 600 million eligible 
voters, regional votes staggered over 
several weeks and government expen- 
ditures approaching $200 million. 

Voting musr be completed by March 
15 so that a new government can be 
formed and authorize a budget before the 


fiscal year begins April 1. Analysts pre- 
dicted that die election would result in 
another coalition government as India 
continues a transition to competitive 
politics from the single party dominance 
of the Congress Party, which has ruled 
for 45 of 50 years since it led India to 
independence from Britain in 1947. 

India's already slow movement to- 
ward a more open economy will be 
suspended daring the months of election 
campaigning as bureaucrats postpone 
decisions on policy issues ana invest- 
ment proposals until a new government 
is installed. 

The aborted winter session of Par- 
liament took no action on pending leg- 
islation, including bills to introduce 
private competition in insurance and reg- 
ulate the satellite television industry. 

The election will test each of the three 
major blocs in Parliament that have 
emerged with the decline of the Con- 
gress Party. 

The Bharatiya Janata Party, the largest 
in Parliament with about loO members 
and the most prepared for an election, 
will look to continue its rapid growth.' 
But the Hindu nationalist party will have 
difficulty adding significantly to its total 
without making inroads in the south and 


Janata Party out of power, announced 
that its partners would coordinate cam- 
paign strategy in an effort to increase the 
coalition's total from about 180 seats. 

It is uncertain how well the disparate 
mix of regional, centrist and Communist 
parties will hold together under the com- 
petitive pressures of an election cam- 
paign. 

The Congress Party is likely to have 
difficulty maintaining its 140 seats, an 
all-time low. The party has done almost 
nothing to refashion its image or project 
new leaders to overcome public distrust 
from alleged corruption and widespread 
disenchantment because successive 
governments failed to deliver more de- 
velopment. 

Despite its troubles. Congress retains 
the broadest political base, having won 
nearly 30 percent of the popular vote in 
last year's election. The B haratiya Janata 


Party captured 20 percent of the vote, 
about the same as five years earlier. 


east, where the party has fared poorly. 

The 13 -party United Front led by Mr. 
GujraL which was formed after Iasi 
year's election to keep the Bharatiya 


about the same as five years earlier. 

The three major political blocs 
launched the campaign by blaming each 
other for Forcing a vote three years ahead 
of schedule. 

Congress withdrew support because an 
official report had accused a United Front 
partner, the DFavida Progressive Fed- 
eration, of abetting Sri Lankan terrorists 
suspected of assassinating a former Con- 
gress prune minister, Rajiv Gandhi, in 
1991. 



ihaioi Mmailbi dm 


MORE ENGLISH! — Students at Pope Pan! VI college in Hong Kong protesting Thursday against sharp 
cuts in the use of English in sc hook in the former colony, which was returned to China this year. 



Shun Freed Dissident, 
China Urges U.S. Aides 


Reuters 

BERING — China said 
Thursday that U.S. govern- 


iM.i W.l , ," 7 »Tk 1 1.H. ,T. 1 1 r. m M 1 > I -1 "J I mVM?" 1 .-! 1 .►it tt WlL« 1 


meet with Wei Jingsheng, the 
prominent Chinese dissident, 
during his exile in the United 
States^ 

. “We are opposed to U.S. 
government officials meeting 

Wei Jingsheng and we are op- 
posed to. making - use of Wei 
Jingsheng in anti-Chinese ac- 
tivities,” saida Foreign Min- 
istry spokesman, Tang 
Guoqiang. 

The South China Morning 
Post in Hong Kong reported 
■Thursday that President Bill 
Clinton would meet .this 
month with Mr. Wei, who 
flew to the United States upon 
his release Nov. 16 on med- 
ical parole after being a polit- 
ical prisoner for 18 of the past 
18 and a half years. 

The release of Mr. Wei 
closely followed the Washing- 
ton summit meeting between 
■MrrCJnton and Presiaen't Ji- 
ang Zemin, which brought ties 
between their .nations to their, 
highest point in, years. - 

■ Mr. Tang insisted that Mr. 
Wei, 47, was a common crim- 
inal: .‘.‘Wei Jingsheng is a 
criminal . who violated 
Chinese judicial law," Mr. 
TangsakL 

. Mir. Wei - was. greeted last 
week by Rudolph Giuliani. 
New Yotk's mayor, who gave 


him a key to the city. 

Mr. Giuliani, whp snubbed 
Mr. Jiang during his state visit 
to the United States last month, 
said he wished Mr. Wei would 
make New York hithome. 

Mr. Wei, who has accepted 
an offer to join Columbia 
University in New York as a 
visiting scholar, has praised 
the United States for its free 
speech and has urged con- 
tinued pressure on China's 
Communist government for 
improved human rights con- 
ditions. 

Chinese leaders reject for- . 
eign criticism of Beijing’s hu- 
man rights record as inter- 
ference in its internal affairs 
and argue that feeding and 
employing a population of 1 .2 


employing a population ot 1 .2 
billion people takes preced- 
ence over political rights. 


ence over political rights. 

■ Activist Leaves Prison 


A Chinese labor activist 
whose independent, journal 
published articles by Mr. Wei 
has been released ' after ' 
serving a three and ahalf year 
prison term, a human rights 
group said Thursday, The As- 
sociated Press reported from 


Bejjing. 

Guo Baosheng, 25, and a 
fellow activist, Li Wenming, 
were arrested in 1994 for try- 
ing to start an independent 
labor union and distribute an 


unofficial journal -■•that hi- 
eluded articles by Mr.- Wei. ' V 


March Barred 
In Cambodia 


march, he will have to take 
responsibility for anything 
that happens,” a ministry 
official said. • (AP) 


PHNOM PENH. -r- The 
Cambodian government re- 
fused permission Thursday, 
for an opposition peace 
march in the capital. The 


Rebels Cited, 
In Indonesia 


procession through Phnom 
Penh, scheduled .for Sun- 


PeqK, scheduled .for Sun- 
day, would be led by Sam 
Rainsy, who returned last 
week from a self-extie that 
followed the seizure of 
power by Hun Sen from his 
co -prime minister. Prince 
Norodom ’Ranariddh, 

Mr. Hun Sen is widely 
believed to have been be- 
hind a grenade attack. at a 
protest' staged by Sam 
Rainsy ip March. Sixteen 
people died and more than 
LOO were injured, including 
the dissident politician. 

. .The ■ Interior .Ministry ■ 
said that the police will not 
forcibly stop the march, but 
that security will not be 
provided. “If he tries to 


JAKARTA The dis- 
figured' bodies of, four 
youths have been found in 
East Timor and Indonesia's 
military has blamed rebels 
for the deaths, the official 
Antara press agency report- 
ed Thursday. 

- Colonel Slamat Sidabu- 
tar. the army chief in East 
Timor, said the -killing of 
four members of the Roman 
Catholic youth group Mud- 
ika was a “terrotigr*- ac- 
tion. He said the condition 
of the corpses indicated that 
the four had been treated 
sadistically before being 
kilted. They were tied and 
their bodies bore the marks 
of torture, he was quoted as 
saying. ( Reuters i 





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Social Model 
Splits Apart 
Bonn Party 

By John Schmid 

httrnuili,.nal Herald Tribune 

FRANKFURT -» Long-standing 
ideological nfLs within Germany’s So- 
cial Democrats widened Thursday when 
a leading candidate for the party’s nom- 
ination tor chancellor proposed a "new 
social contract*' io modernize the econ- 

, omy and cooperate with industry. • 

p In a slurp break with the party’s 
leftist traditionalists, Gqrhaid 
Schroeder told a congress of the party 
that * ‘certainly, economics is not 
everything, but without economic suc- 
cess, there is much that is im- 
possible.” 

Mr. Schroeder ’s pro-business plea 
clashed with a vision delivered to the 
congress two days earlier by the Social 
Democratic Party chairman, Oskar La- 
fontaine, who is competing with Mr. 
Schroeder for the party's nomination to 
run against Chancellor Helmut Kohl in 
elections next September. 

“I want us to emphasize and use the 
opportunities presented by globaliza- 
tion,” Mr. Schroeder told the 520 del- 
egates on the final day of a three-day 
congress in Hannover. 

The rivalries that split Ger many ’s 
political left mirror a nation that is un- 
certain how to attack its most urgent 
economic problems, including record 
unemployment and an increasingly un- 
affordable welfare state. Mr. Kohl's cen- 
ter-right government is tom over makin g 
significant changes in social benefits. 

After Mr. Lafontaine insisted that 
German employers must elevate worker 
interests above profits and share prices, 
Mr. Schroeder made clear that his party 
should cooperate with industry and not 
“oppose” it. 

While Mr. Schroeder emphasized 
that government influence on markets is 
limited, Mr. Lafontaine advocated 
Keynesian measures to stimulate do- 
mestic demand in Germany. 

Appealing to economic reformers, 
Mr. Schroeder peppered his speech with 

1 approving references to job-creation 
measures" in such free-market econo- 
mies as the United States, Britain and 
the Netherlands. 

Mr. Schroeder warned delegates that 
“if we do not win this time, then there is 
nobody to blame except ourselves.” 

Leftist delegates overrode Mr. 
Schroedcr's faction with a motion to 
create 750,000 state-financed jobs, al- 
though party leaders managed to omit 
any commitments on the program’s tim- 
ing and financing. 





Park* BsrrjanyAgaxx Fhracc-Piwat 

TRIAL RESUMES — Maurice Papon, charged with World War II crimes against humanity, arriving 
with a bodyguard for a medical check-up near Bordeaux, France, before his trial resumed Thursday. 

Beneaththe Dust of Antioch, Martyrs and Saints 


By Stephen Kinzer 

New York Times Service 

ANTAKY A, Turkey — Residents of 
New York and other great metropolises 
who assume that the glories of their 
cities will last forever might take a cau- 
tionary lesson from this remote pro- 
vincial outposL 

Antakya is what remains of die 
grandeur of ancient Antioch, an early 
center of Christianity and for centuries 
one of the world’s most important cit- 
ies. 

In the days when it was a thriving way 
station on the Silk Road and a cross- 
roads of civilization, when it played host 
to visitors like Julias Caesar and Dio- 
cletian, and was the capital of Syria and 
a center of the Byzantine Empire, no one 
living here could have imagined the 
obscurity and irrelevance into which it 
has now fallen. 

"I tell people in other countries that 
I’m from Antakya and they look at me 
blankly,” said Gazi Korusu, a cook in 
a downtown caf6 who has traveled 
widely hi the Middle East “When I 
tell them it’s the place that used to be 
Antioch, they know right away what 1 
mean.” 

Today, even most Tories consider 
Antakya remote and undistinguished. 


but when it was Antioch its glory shone 
throughout the known world. 

Alexander the Great passed through 
here in 333 B.C. and is said to have 
chosen the site on which Antioch was 
built. Before long it had become a bust- 
ling city known, according to one his- 
torian, for “such a sybaritic, self-in- 
dulgent lifestyle that it acquired a 
scabrous reputation for license and dec- 
adence.” 

Antioch’s golden age began when it 
was annexed to the Roman Empire in 64 
B.C Its population rose to more than 
half a million and it boasted a large 
amphitheater and public bath, an elab- 
orate network of aqueducts arid sewage 
pipes, its own granary and weapons 
factory, a famous school of Greek philo- 
sophy and a three-kilometer colonnaded 
avenue that was the longest and grand- 
est in the world. 

Antioch also played a crucial role in 
the early history of Christianity. Peter 
and Paul preached here in a cave that is 
considered one of the first Christian 
churches. 

“And it came to pass, that a whole 
year they assembled themselves with 
the church, and tanght much people,” 
according to Acts 1 2:26. “And the dis- 
ciples were called Christians first in 
Antioch.” 


PAGE 7 . 


U.K. Presses Washington 
On Bosnia Commitment 

Defense Chief Urges U.S. to Extend Presence 


The cave where the saints preached 
their gospel from about AD. 47 to 54 
still exists. 

It is known as “SL Peter's Grotto” 
and is one of the few tourist attractions 
hereabouts, attracting the odd pilgrim 
and what few other outsiders pass this 
way. 

Christianity thrived in Antioch, with 
setbacks like the decision to hold the 
local bishop, later known as the martyr 
SL Ignatius, responsible for an earth- 
quake in the year 1 15 and feed him to 
Eons. 

That move evidently did little good, 
as Antioch was later shaken by a series 
of even more devastating quakes, in- 
cluding one in 52 6 that killed half the 
population. 

The quakes, combined with a series 
of lost battles over the centuries in 
which citizens were massacred by Per- 
sians, Crusaders and other foes, reduced 
die city to a miserable village inhabited 
by just a few hundred people in rude 
huts. 

“The glory of the Syrian capital has 
long since sunk into the dust,” a British 
traveler wrote in 1813. A Frenchman 
who passed through around the same 
time reported that only vines and lizards 
remained to “mourn for a splendor that 
is gone forever.” 


By Steven Lee Myers 

New York Tunes Service 

LONDON — Defense Minister 
George Robertson, meeting with De- 
fense Secretary William Cohen Thurs- 
day, chided the Clinton administration 
for so for refusing to commit U.S. troops 
to Bosnia after the middle of next year. 

With Britain already pledging to keep 
its troops in Bosnia after next June, Mr. 
Robertson said a U.S. decision to with- 
draw now could undermine the tenuous 
peace that has held in Bosnia ever since 
NATO peacekeepers arrived in 1995, 
ending more than three years of war. 

“We have made huge progress,” Mr. 
Robertson said at a press conference 
with Mr. Cohen. “I don't think there's 
anybody in Europe or in the world who 
would want that progress diminished or 
destroyed by precipitate action.” 

Under pressure from critics in Con- 


Communists Reject 
5 98 Russian Budget 

MOSCOW — The Communist op- 
position plunged the Russian gov- 
ernment's financial plans into fresh 
crisis Thursday, announcing that it 
would reject the much-delayed 199S 
draft budget at a first reading Friday. 

The Communisr Party chief, Gen- 
nadi Zyuganov, said that his parlia- 
mentary faction had “decided unan- 
imously to vote against the budget.” 

The powerful Communist faction 
and its allies account for 212 seats in 
the 450-seat lower house, the State 
Duma. Added to the liberal oppo- 
sition, their votes would mean the 
budget would foil to pass the first 
reading. 

Earlier, the pro-market reform 
Yabloko faction, with 54 seats, an- 
nounced that it would oppose the draft 
budget and call instead for a no-con- 
fidence vote against the government 
in the Duma. (AFP) 

EU Applicant Talks 

BRUSSELS — The European Par- 
liament voted Thursday to begin talks 
next month with all countries wanting 
to join the European Union except 
Slovakia, which was deemed not for 


grass, President Bill Clinton and his. j 
aides have repeatedly refused to commit a 
American troops to staying on, even as _ 
the Pentagon and the North Atlantic 
Treaty Organization have begun to lay 
the groundwork for a new force. , 

Mr. Robertson’s remarks followed 
m eeting s this week of NATO defense , 
ministers in Brussels, in which the’fu- •• 
rare of the more than 30,000 peace-. , 
keepers in Bosnia, including^ 8,000 . 
Americans, was a dominant topic. 

NATO’s military commanders, in- 
eluding General Wesley Clark, the U.S. 
European commander, warned that the . 
peace in Bosnia remained precarious .. 

and could collapse without a significant •, 

peacekeeping force. 

After the press conference, Mr. Co- * 
hen' told- a reporter that only President 
Clinton conla decide whether to commit 
American troops. "I don’t make the . 
decision,” he said. 


enough along on the road to democ- 
racy. 

The resolution said that negoti- 
ations should begin with Poland, 
Hungary, the Czech Republic, Slov- 
enia, Estonia, Lithuania, Latvia, Bul- 
garia. Romania and Cyprus. 

*■ 4 Intensive” negotiations should 
begin, it said, with Poland, Hungary, 
the Czech Republic. Slovenia, Es- 
tonia and Cyprus, the six applicants 
that the Parliament judged to have 
shown the most economic and polit- 
ical progress. (AFP) 

Looted Art Found 

MUNICH — The police in Bavaria 
said Thursday that they had un- 
covered religious treasures thought to 
have been stolen from churches in 
Cyprus. 

Around 40 cases containing up to 
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seized during a search, the police 
said. 

The operation was carried oat in 
the town of Obergiesing and the home 
of a 60-year-old Turkish archaeolo- 
gist who was identified only as Aydin 
D. 

He was previously held for ques- 
tioning on suspicion of having re- 
ceived stolen goods. (AFP) 


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PACES 


MANDELA: 

She Says She’s Sorry 

Continued from Page 1 

“Please. You are a great person. You 
don’t know how your greatness would 
be enhanced if you said sorry." 

Silence spread dirough the packed 
ball of the Johannesburg Institute of 
Social Services. After a long pause, Mrs. 
Madikizela-Mandela finally responded- 
She apologized to die families of her 
club's most heinously killed victims. 
They include 14-year-old S tempi e 
Moekhetsi Seipei, who was beaten 
nearly to death at Mrs. Madikizela-Man- 
dela’s home late in 1983. then fatally 
stabbed in the neck. 

“I am saying it is true: things went 
horribly wrong," Mrs. Madikizela- 
Mandeta said, the bitter sting of the 
daylong hearing absent from her voice. 
“For that I am deeply sorry.” 

Her belated apology marked (he cli- 
max of nine days of testimony before the 
commission, which is investigating the 
human rights abuses committed on all 
sides of the political and racial wars of 
the era of white-minority rule known as 
apartheid. That era ended in 1994. with 
the nation’s first all-races election and 
the elevation of Nelson Mandela to the 
presidency. The truth body’s findings on 
Mrs. Madikizela-Mandela and ber now- 
defunct football club will be issued next 
year as part of the body's report on its 
two-year truth-seeking mission. 

The commission has no powers to 
prosecute, but can offer amnesty to those 
who seek it and, in exchange, offer full 
confessions of their deeds. Conversely, 
it can make recommendations to the 
courts in cases where a prosecution 
seems warranted- On this score, Mrs. 
Madikizela-Mandela could become the 
focus of renewed calls for prosecution. 
She has not applied for amnesty. 

Ebrahim As vat, brother of a doctor, 
Abu-Baker Asvat, whose 1989 murder 
factored prominently in the hearings, 
said Thursday he had faith in the panel’s 
ability to -ferret out the truth from the 
many lies told during the hearings. 

Two men convicted for the Asvat 
murder testified this week that Mrs. 
Madikizela-Mandela paid them to elim- 
inate the doctor. Witnesses said Dr. As- 
vat examined the brutally beaten 
Stompie Seipei boy and could have at- 
tested to his fate. Of such claims, Mrs. 
Madikizela-Mandela said, “They are 
ludicrous, of course." 

Of Stompie Seipei ’s death she 
claimed no knowledge, saying she had 
read about it in the newspapers. 

“We’ll wait and see if the truth com- 
mission can provide us some of the truth, 
and if not the attorney general will have 
to look at the matter," the brother of the 
dead doctor said. 

Indeed, the Madikizela-Mandela con- 
troversy is by no means over, though the 
hearings have finally come to a close. 
She has mounted a long-shot campaign 
for the deputy presidency of die ruling 
African National Congress in voting to 
take place later this month. 

But the ANC Women’s League, of 
which she is president, began waffling 
this week on its nomination of her for the 
high position she is seeking, and the 
party establishment opposes her. 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, DECEMBER 5, 1997 


INTERNATIONAL 


German Students Focus on Kohl in a New Wave of Protests 



AmbCT* IV i „ 

University students in Germany have found some seasonal employment during their period of strikes and 
protests. Here a trio of angels and an army of Santas join voices in an outdoor Christmas concert in Berlin. 


Reuter i 

DUSSELDORF — More than 100,000 German students 
joined in a new wave of protests Thursday against education 
cuts, directly targeting Helmut Kohl in eastern Germany. 

The police said the largest demonstration, in Dusseldoif , 
drew about 40,000 students. Protests by tens of thousands 
more were also held in Berlin. Hannover and Mainz, 
bringing (he total to 120,000 across Germany. 


In Frankfurt an der Odes, Chancellor Kohl was booed and 
whistled as he arrived at the Viadrma University to meet the 
visiting Polish president, Jerzy Buzek. 

The new protests follow a march last week through Bonn 
by 40,000 students from about 40 universities angry at the 
state of higher education, where overcrowding is nfe and 
standards are perceived to be falling. The protests have 
attracted node support from professors and rectors. 


RACE: Clinton Pokes and Prods in Nationally Televised Meeting 


Continued from Page 1 

ecdotes and entreaties for better relations ' 
— one woman urged everyone to follow 
the Golden Rule — than extended debate 
about the public policy issues that remain 
unsettled in the post-civil rights era. 

The most dramatic moment did not 
come until the end of the forum, when 
Mr. Clinton engaged in a sharp exchange 
with Abigail Themstrom, a prominent 
critic of affirmative action programs for 
minorities and women, and co-author of 
the book “America in Black and White: 
One Nation. Indivisible." 

After Mr. Clinton asked for a show of 
hands from those who support continu- 
ing such programs in college admissions, 
she interjected that the real question was 
whether they favored racial preferences. 

“Abigail." retorted Mr. Clinton, “do 
you favor the United States Army abol- 
ishing the affirmative action program 
that produced Colin Powell?” When she 
hesitated, he pressed the point “Yes or 
no?” he demanded. “Yes or no?" 

“1 do not think that it is racial pref- 
erences that made Cotin Powell ...” Ms. 
Themstrom started. 


“He thinks he was helped by it," Mr. 
Clinton interrupted. “The overwhelm- 
ing majority of Americans want Amer- 
ican citizens to be treated as individu- 
als," «h«* finally got in 
The town ball meeting, conducted at 
the University of Akron and broadcast 
live on C-SP AN, was the first of several 
dial Mr. Clinton plans to hold over the 
next six months as part of a yearlong 
campaign for racial reconciliation. 

The White House also organized 96 
“watch sites" around die country where 
groups of people tuned into the Akron 
forum and then engaged in their own 
discussions after it was over. 

In selecting people to share the stage 
with Mr. Clinton on. Wednesday, the 
White House pledged to find a cross 
section of society and came op with a 
blend of participants from different ra- 
cial and ethni c backgrounds. . 

Although Ms. Themstrom was invited 
to provide a more conservative voice, 
the stage was dominated by people who 
shared Mr. Clinical’ s view. Just a half 
dozen raised their hands when he asked 
how many thought affirmative action in 
college admissions should be ended — a 


far cry from the majority sentiment in die 
country’s largest state, California, whore 
voters decided to abolish ft. 

During the uro gra m, many shared 
sometimes painful memories of bow they 
had bom treated because of their race. 
“I’ve been to banks where I’ve given 
diem a check to deposit for my mother," 
said McHughsoa Chambers, a biracial 
University of Akron student “They’ve 
pat holds on them unnecessarily." 

An African-American woman who 
did not give her name recalled that a 
college roommate “broke out in hives 
when she discovered that I was going to 
be her roommate and I was black.’’ 

Only one of those who spoke, though, 
confessed to harboring any racial 
thoughts of his own. Jonathan Morgan, a 
white university student, said bigotry 
was more of a problem in “the older 
generations" — which he defined as 
“30s, 40s, 50s and up." 

“At the same time, I have my own 
prejudices," he added, “whereas if I’m 
walking downtown on a street and 1 see a 
black man w alking toward me that’s not 
dressed as well, I may be a little bit 
scared." 


MEXICO: Key Test for Capital’s Mayor 


Continued from Page I 

as governor of Michoacan from 1980 to 
1986. 

“Everybody expects him to perform 
miracles, to be a superman," Mr. Aridjis 
said. “But this city can cut off his polit- 
ical head," he added. 

A son of one of the country’s most 
beloved presidents from die 1930s, Mr. 
Cardenas broke away from the govern- 
ing party a decade ago because of its 
undemocratic traditions. He has run 
twice for the presidency without suc- 
cess, in 1988 and 1994. 


Slovakia’s Leader 
Mandates Press Gag 

Reuters 

BRATISLAVA, Slovakia — 
Prime Minister Vladimir Meciar 
has abolished weekly government 
press conferences, citing low jour- 
nalistic standards, the official 
TASR press agency reported Thurs- 
day. 

Mr. Meciar, who is regularly ac- 
cused by journalists of meddling in 
the press, was also quoted as issuing 
a warning to publishers to monitor 
the standards of their publications. 

TASR said the government 
would also stop talking to journalists 
during visits by foreign dignitaries 
unless protocol required it. The 
measures take effect immediately. 

Mr. Meciar rebuffed questions in 
Parliament on Thursday over his 
cancellation of government news 
conferences. 


Assailing die governing party’s leg- 
acy of corruption and failed economic 
policies, he was elected mayor in a land- 
slide in July and helped give the In- 
stitutional Revolutionary Party its worst 
election thrashing ever. The' party not 
only lost the race for mayor, a post 
previously appointed by the president, 
but also its majority in the Chamber of 
Deputies, the lower bouse of die leg- 
islature. 

Mr. Cardenas now is considered a 
giant-killer by citizens and political ana- 
lysts alike, who view him as the top 
opposition candidate in the 2000 pres- 
idential race. But first he must grapple 
with a city that is a cauldron of contrasts 
- and contradictions. 

The city is responsible for 26 percent 
of the gross national product An es- 
timated 7.4 million tourists every year 
disregard its dangers to enjoy its cos- 
mopolitan tree-lined boulevards, famous 
public murals, historic monuments, ritzy 
shops, world-class museums and res- 
taurants and mild climate. 

Looking for a better future, millions 
of rural Mexicans have flocked to the 
capital, overwhelming its aged infra- 
structure. Today, with an estimated 22 
million people, 8-5 of which live within 
die city proper that Mr. Cardenas will 
govern, it is by many accounts die 
biggest, most densely populated city in 
the world, and home to almost a .quarter 
of Mexico’s citizens. 

Fresh water is scarce. There are about 
2,500 demonstrations, inarches or sit-ins 
every year. The city generates 12,000 
tons of garbage per day. helping sustain 
more than seven rats per inhabitant 

“The city has lost its harmony; eveiy- 
body fights only for himself,” said Vi- 
cente Fox, the governor of the nearby state 



EUnMh DaLodme AaoeMed Am 

Three men hoping for business for a s tree tside car repair business in 
Mexico City. An influx from the countryside has swollen the population 
of the metropolitan area to 22 million and overwhelmed infrastructure. 


of Guanajuato and a candidate for the 
nomination ofhis right-of-center National 
Action Party for president in 2000. “The 
city needs older in. the streets, in retailing, 
in business and transportation." 

Atrophied politics contributed to the 
city’s woes and the growth of official 
corruption. Many of the 225,000 city em- 
ployees owe their jobs to governing-party 
patronage, while me appointed mayor has 
been unaccountable to the citizens. 

It is against this backdrop that Mr. 
Cardenas, trained as an engineer, as- 
sumes office. No one expects dramatic 


improvements in problems that have 
been festering for decades, but residents 
say they are looking forward to more 
benevolent, honest leadership. 

“If he only makes the city a more 

g leasant place to live. I give him my 
iessings because that seems almost im- 
possible," said Cuauhtemoc Hernandez. 
52, an insurance company executive and 
lifelong resident of the capital 

“You don’t need to be a hero — just 
be honest clean and persistent But the 
monster, the city, is big. It’s Like David 
versos Goliath. Let’s see who wins." 


KOREA: Politicians Condemn IMF Terms 


Continued from Page I 

il ire . to which the candidate Kim Dae 
Jung belongs. . .. 

In fact Mr. Kim, a long tune dissident 
who spent six years in jail and many 
more in prison hospitals or under house 
arrest wants a new round of talks with 

the IMF if he wins the election. 

A spokesman for the candidate said he 
had promised President Kim Young 
Sam, constitutionally barred from seek- 
ing another term, fhat be would respect 
the Fund agreement “in principle if 
elected.’.’ But the first thing Kim Dae 
Jung would do after becoming president 
he added, would be to * ‘enter into further 
talks with the IMF." 

At the top of the agenda would be a 
revision of the permissible growth rate, 
which the agreement would hold to 3 
percent 

Such a low rate for a country ac- 
customed to an average 8 percent a year 
increase in the gross domestic product 
since flic Korean War would ‘ itead to 
mass layoffs and many corporate fail- 
ures," the spokesman said. 

Far from setting a low target for 
growth in gross domestic product he 
sa i d , “the growth rate must be adjusted 
upwards’’ from (he 6 percent increase it 
was expected to post for 1997. 

The statement of support called on 
President Kim and his cabinet to “kneel 
down before the people and apologize." 

A spokesman for Lee Hoi Chang, 
candidate of the Grand National Party, 
which mostly echoes die views of the 
government denounced the Fund’s de- 
mands in the agreement as “nothing bat 
rude acts that encroach upon the au- 
tonomy of a sovereign state. " 

The IMF had insisted on the signa- 
tures of Kim Dae Jung and. Mr. Lee, 
running neck-and-neck. and of Rhee In 
Je, another candidate, as a precondition 
for agreement with the government 

Their statements made clear, 
however, that more talks with the IMF 
were likely every time the country was 
about to receive another tranche of the 
promised money. The Fund is expected 
to deposit the first tranche of about $5.5 
billion Friday. 

Despite all die criticism of the agree- 
ment die deal appeared to have inspired 
confidence. The composite stock-mar- 
ket index Thursday shot up 26.50 points, 
a gain of 6.99 percent, while the dollar 
finished at 1,170 won, down from 1,196 
won on Wednesday. 

Kim Eon Sang, branch manager at 
Morgan Stanley, summarized the con- 
flicting sentiments of many South 
Koreans about the agreement. 

“As a professional, I am very 
happy,” he said- “But as (me Of the 
people of this country, I am hating die 
U.S. as a gangster that did too much to 
this small country." - 

The United States, he claimed, was 
“actnally the negotiator, instead of the 
IMF," and was responsible for the strict 
terms under which Seoul most open its 
markers and close banks and financial 
institutions that are too hopelessly in 
debt. 

South Korea’s financial condition, 
said Kim Eon Sang, was far worse than 
the government had indicated. He es- 
timated foreign-cuiiency reserves at $24 
billion, but said all but $5 billion to $6 
billion of that amount was already com- 
mitted. 

Even with die bailout funds steadily 

of banfaupteies. foeoFfoe fhst compa- 
nies to fail, in the view of many analysts, 
would be Halla Group, whose chairman 
is die younger brother of Chung Ju 
Yung, founder and chairman of the Hy- 
undai Group, the country’s largest com- 
pany in terms of assets and second- 
largest in terms of sales. 

“Halla is surviving through the sup- 
port of their mother company, Hy- 
undai,” Kim Eun Sang said 


ers would be interested in investing in 
Korea even though the government was 
significantly liberalizing the markets. 
The IMF bailout, by p rovi di ng Seoul 
with a line of credit, seeks to reassure 
foreign investors that the government 
and South Korean companies will be 
able to repay their debts. The money can 
also be used to defend tire won. 

“The thing that will keep many for- 
eigners away is the fear of foe cur- 
rency,” said Hank Morris at Coryo Se- 
curities. The won, he said, was so closely 
tied to the yen that it was likely to go 
down in value as the yen depredated. 

Mr. Morris warned that Seoul offi- 

believed foa^&e 

would help for more than a limited peri- 
od — or revivethe entire economy. 

“They’re fooling themselves if they 
dunk, things will be c hanging back to the 
good old days,” he said. * They think 
things will, crane back. Instead, we’ll 
have more bankruptcies.” 

In addition to Halla, Ssangyon g 
Group, the sixth-largest chaebol/is fre- 
quently mentioned as hovering on foe 
brink of bankruptcy. Ssangyong has lost 
several billion dollars in attempting to 
enter tire motor-vehicle industry here. 

Ssangyong’s fust car rolled out a 


GOLD: As International Conference Closes, U.S. Presses Nations to Speed Compensation for Holocaust Survivors 


Continued from Page 1 

At the conference in London, about 
240 delegates from 41 countries agreed 
to meet again at the Holocaust Memorial 
Museum in Washington in the spring or 
early summer for what the United Stales 
foresees as broader inquiries dealing not 
only with looted Nazi gold but also with 
stolen real estate, securities, bonds, in- 
surance policies and works of art 

At the same time, Mr. Eizenstat prom- 
ised a new U.S. government inquiry into 
“Holocaust-era assets in our country 
before and after the Second World War” 
to establish whether, as has been re- 
ported. the defend U.S. Assay Office 
smelted looted wartime gold belonging 
to private individuals and handed it back 
to European central banks in 1952. 

The new inquiry, he said, would also 


seek to trace any dormant bank accounts 
of Holocaust victims from that era. 

Historical assessments at the confer- 
ence built a picture not just of Nazi 
pillage across Europe but also of a 
tangled postwar history in which the 
claims of Holocaust survivors for foe 
return of looted gold and other assets 
were either ignored or subsumed in the 
politics of the Cold War. 

But the likely practical outcome of the 
three-day gathering remained ambigu- 
ous. 

On Tuesday, foe United States and 
Britain announced foe formation of a 
new fund to channel the remaining 55 
tons of gold, currently worth about $55 
million, that is still awaiting distribution 
among European central banks as resti- 
tution for Nazi looting. But by the close 
of foe conference, two of foe biggest 


potential donors — France and the Neth- 
erlands — had not formally agreed to 
contribute. 

Also, there was no indication Thurs- 
day whether other countries would ac- 
cept Mr. Eizenstat’s demand for a dead- 
line on historical inquiries and on foe 
gathering and payment of compensa- 
tion. 

One clear result of foe conference, — 
which Mr. Eizenstat called a “landmark 
event” — has been to confirm Switzer- 
land’s long-standing argument that, 
while it acknowledges its leading role as 
a wartime financial center fra trade in 
Nazi gold, other neutral countries also 
did business with the Third Reich. 

“Switzerland is in great shape," said 
Thomas Borer, foe chief Swiss repre- 
sentative. He has repeatedly stressed that 
measures undertaken by Switzerland — 


including foe establishment of a $190 
million fund fra Holocaust survivors — 
far outstrip action by other countries. 
Indeed, the U.S. delegation has spared 
no opportunity to praise Switzerland's 
actions. 

Against that, though, Mr. Eizenstat's 
call Thursday for European nations to 
complete historical inquiries and pay out 
compensation by the end of the century ‘ 
automatically put new pressure on 
Switzerland, whose own historians have 
said their inquiries will not be complete 
until 200 lor 2002. 

The date is particularly important 
since foe Swiss government has made 
any compensation from state coffers — 
particularly for foe tens of thousands of 
Jewish refugees Switzerland turned back 
to face foe Holocaust - — conditional on 
foe completion of historical- inquiries. 


Additionally, according to U.S. offi- 
cials, foe next few months are likely to be 
marked by an intensifying effort to per- 
suade Switzerland’s major banks to reach 
a high-ticket out-of-court settlement with 
class-action plaintiffs in New York who 
maintain that Swiss banks denied them 
access to stolen Jewish assets. 

■ Criticism of Swiss and Vatican 

The World Jewish Congress said 
Thursday that the London meeting had 
exceeded all expectations," with the 
exception of Switzerland and the Vat- 
ican, The Associated Press reported 
from London. 

The congress said the Swiss were 
"fusing to compensate many Holocaust 
victims and conducting “business as 
usual, ’ while foe Vatican has refused to 
open its archives to other countries. 


The IMF’s Terms 

Agtncc Frunvc-Pressr 

SEOUL — This is a brief outline, 
provided by the Ministry of Finance 
and Economy, of the steps pledged 
by Sooth Keren to the International 
Monetary Fund in renim for its $57 
billion bailout: 

• Macroeconomic policies: The 
country’s gross domestic product 
should grow by around 3percent in 
1998 and fester in 1999. The con- 
sumer price inflation target is below 

5 percent in 1998. The budget def- 
icit should be below 1 percent of 
GDP in 1998 and 1999. 

• Monetary policies: Aim for 
tighter monetary policies and allow 
temporary rises in money-market 
rates. Maintain current flexible for- 
eign-exchange approach. 

• Fiscal policies; Tighten fiscal 
policy. -Keep balanced or surplus 
budget through tax increases or 
spending cuts. Increase tax revenue 
by cutting down on items that are tax- 
free raare exempt from value-added 
tax or by raising indirect taxes. 

• Financial reforms: Pass gov- 
ernment Financial-reform bill this 
year. Guarantee central bank's in- 
dependence from government. Set 
up integrated financial supervisory 
board overseeing banks, securities 
and insurers. Allow undercapital- 
ized financ ial institutions to be 
taken over. Accelerate write-offs of 
bad loans with state funds. 

Banks should devise an annual 
reform plan to meet Bank for In- 
ternational Settlements obligations. 
Financial i ns titutions will be audited 
tty internationally recognized ac- 
counting institutes. Allow foreign 
banks and brokerages to set up sub- 
sidiaries by mid-1998. Strengthen 
supervision of overseas branches of 
financial institutions and order clo- 
sures of non viable ones. 

• Stock-market regulations 
and other measures: Expand ceil- 
ings on foreign shareholdings to 50 
percent by year-end and to 55 per- 
cent in 1998. Allow foreigners to 
invest in the short-term bond market 
earlier than scheduled. 

Oblige companies to make con- 
soli data! financial statements. Im- 
prove cross-loan guarantee system 
among chaebol. Enforce more 
transparency in financial data state- 
ments. lift import restrictions on 
Japanese products earlier than 
planned. Make labor market more 



tin* U 


;l;r 

1| 

?i W • i 1 » * * 

« i-ri't 


month ago, but few say the company was 
likely to stay in the business for long. 

To enter foe car business, foe car unit 
borrowed several billion dollars from 
other companies in foe group. The fear 
now is that die motor-vehicle company 
will drag down the entire group. 

Mr. Morris predicted a dangerous re- 
action if Ssangyong and others attempt- 
ed to lay off workers to survive. 

„ “Demonstrators will be carrying ban- 
ners that say, ‘Down with the IMF. down 
with America, down with Japan,’ " Mr. 
Morris said. 

■ IMF Aid Package Increased 

The aid package arranged by foe In- ‘ 
tematiooal Monetary Fund for South 
Korea rose by $2 billion, to $57 billion, ; 
on Thursday after Italy said it would , 
participate mid three other countries in- 
creased foeirofferings, the Finance Min- 

1St fin Young Woo^^tor general of 
foe ministry’s international-finance di- 
vision, said Germany, Britain and ' 
France would increase their pledges to 
$1.25 billion each from $1 billion. 

He also said that $5.5 billion of the 
package would arrive in Seoul on Friday , 
evening and that more than $10 billion ' 
would be provided by year-end. 


Unesco Enlarges 
List of Treasures 

The Associated Press 

NAPLES — Pompeii and 
Buddha’s birthplace in Nepal were 
included with dozens of other sites as 
world cultural treasures, and wildlife 
paries in Africa and an ancient Al- 
banian village on Unesco ’s en- 
dangered culture list 
. All of the 10 cultural and natural 
sites proposed by Italy won entty on 
Unesco s World Heritage list, an- 
nounced at a conference in Naples. 

Selection makes sites eligible for 
Unesco funding and improves their 
chances in lobbying home countries 
and international organizations for 
money and technical expertise 
needed for restoration and im- 
proved security. 

Before this conference, 506 sites 
had earned Unesco’s designation 
daring the last quarter-century. Four 
dozen sites were added to the list 
Thursday. 

Four other places were singled 
ont as being in particular danger. 
One was Bucrinti, an ancient 11 ly nan 
village in Albania near foe Greek 
border, which was looted earlier this 
year when Albanians rioted to 
protest the collapse of investment 


niuoi Lira 


ill); 


tl S { < V 


Other places in danger were vic- 
tims of etimic violence, civil war- 
fare and widespread lawlessness in 
Africa. 

Uncontrolled poaching, linked to 
the deaths of four park staff mem- 
bers this year in Manovo-Gounda- 
St, Floris National Park in the Cen- 
tral African Republic, was cited. 

The two other danger sites named 
are in foe former Zair e, now foe 
Democratic Republic of Congo, 
where an eight-month rebellion 
ousted President Mobutu Sese Seko 
in May. 


r 







The church of St. Francis in Old Goa, one of the many churches reflecting the region's Portuguese past: market in Madras, the main port on India’s southeast coast . 

On the Beach in India: Going South to the Seaside 



Along the Route 
From Madras, 

A Temple Tour 

By Edward Hower 


ADRAS, India — Walk- 
ing along the beach south 
of Madras, I saw what 
looked like a rainbow 
rising out of the palm trees. In fact it was 
one of South India’s famous modem 
temples covered with radiant stone deit- 
ies. Each one was painted in flame red 
and sky blue and sea green and hues I 
couldn't possibly name. The colors 
were so fresh I could smell them — the 
sweet odor of new paint mixing with the 
smoky scent of incense and salt spray 
from the Bay of Bengal. I seemed to 
hear them as well, but soon identified 
(he sounds as the pounding of drums, die 
clanging of a brass bell, and the sing- 
song chanting that accompanies Hindu 
prayer services. 

The Ashta Lakshmi Temple in the 
Madras suburb of Besant Nager is not 
one of the huge, important landmarks 
listed in the guidebooks, but I like its 
smallness and accessibility. Joining a 
stream of local people, I climbed narrow 


cued from the wrecker’s ball, have been 
moved and reassembled, complete with 
furniture, utensils and toys — as if the 
inhabitants had just stepped out The 
guide described the lifestyle of tee own- 
ers in such vivid detail that I began to feel 
like a house guest in another century. 

One continuous palm-fringed beach 
stretches from Madias to Pondicherry, 


/ b (airways all over the facade, pausing to 
■ meet the life-size deities face to face. 
Vishnu, the preserver god, was appro- 
priately regal. His consort, Lakshmi, 
goddess of love, beauty and prosperity, 
looked very glamorous — raven-haired 
Indian film actresses are often com- 
pared to her — as she smiled from the 
wall of a second-story terrace. Wor- 
shipers touched her green sari and 
pressed jasmine petals into her hands. 
TTicir approach to the deity was relaxed, 
informal, personal. 

South India is like dial, I discovered in 
June, as I left the city and headed down 
-the coast of Tamil Nadu stare with a car 
and driver toward the city of Pondi- 
c hem . This round trip of 100 miles (160 
A kilometers) is one of the most pleasant 
\ short excursions in India. Theoretically 
' it can be done in a day, since the roads 
are good, but I took three days so I could 
stop and explore along the way. 

Glimpses op Village Life 

The suburbs south of Madras are mod- 
em and upscale, but on the shore behind 
the marble-fronted apartment blocks I 
strolled along village streets lined with 
houses made of woven coconut-frond 
mats. Chickens roosted on the sloping 
thatched roofs. Girls in saris sat on the 
ground sorting trays of dried fish like 
silver jewelry. The handle of a pump 
creaked up and down as women gathered 
to fill shiny metal water pots. I stepped 
aside as a small boy led a loping, curly- 
homed buffalo down the lane. 

I’d rented a car and driver from a 
Madras hotel for about $100 a day. We 
( drove 1 5 miles south to Dakshina Chitra, 
a remarkable living museum of archi- 
tecture. crafts and folk an. Beautiful old 
brick-and-wood merchants* houses, res- 


ilnate midway points are a number of 
beautiful seaside resorts. The quiet tittle 
town itself, popular with young trav- 
elers, is full of modest restaurants and 
tiny family-run lodges. At one, the 
friendly Danussi Cottage. I rented a 
spotless room and a cot that I moved to 
the roof so as to sleep under the stars and 
watch the sun rise over the bay. 

The next morning 1 swam at the beach 
beside Mahabatipnram’s Shore Temple, 
a delicate, seventh-century stone build- 
ing so worn away by salt spray that it 
resembles a filigreed sand castle. Even 
older are the carvings on one enormous 
boulder that depict the hero Atjuna and a 
procession of animals from Indian folk- 
lore. The sound of chisels striking stone 
accompanied my walk around the town’s 
sandy lanes. Sculptors in open sheds 
were busy carving images of deities. I 
bought an elephant-headed Ganesh that 
fitted into the palm of my hand; 1 could 
have bought a flute-playing Krishna that 
would have filled ray living room. 

Heading south again, I was envel- 
oped by South India’s greenness — 
plantations of shaggy-headed coconut 
palms and irrigated, rice paddies gleam- 
ing in the sunshine. The streets of one 
town ran blue as a stream of girls in blue 
saris poured out the door of a convent 
school A man lovingly washed a mo- 
torcycle half-submerged in a stream. 1 
left the car and walked into a field to get 
a close look at one of the equestrian 
terra-cotta statues that potters make to 
guard their villages. This local folk-god 
seated on his white-painted steed wore a 
green sarong, a gold crown and a mag- 
nificent handlebar mustache. 

An hour later we were driving into 
Pondicheiry, where I had booked a 
room at a guest house. The city, an 
enclave that remained under French rule 
for nearly a decade after the British left 
India in 1947, retains some of the flavor 
of its colonial years in the streets east of 
the central canal. I rented a bicycle and 
pedaled past houses with graceful 
wrought- iron balconies, carved wooden 
trim below the slopes of tile roofs, and 
walls in pastel shades of aquamarine, 
amber and puce. A miniature Arc de 
Triomphe nestled beneath the palm 
trees in a pork where families sat on pie 
grass eating pakoras (spicy fried 
snacks) and Popsicles. Just off this 
square, the Pondicherry Museum was 
full of musty treasures: graceful Louis- 
some thing furniture, ancient Indian 
coins, endearingly awful paintings, 
fossils, a palanquin and a picture of a 
tiger made entirely of painted noodles. 

In the colonial district, there are sev- 
eral attractive churches ^ including one 
Haring from 1770. My favorite was a 
Sacred Heart Church built in 1902 that 
looked like a castellated cake covered in 
gleaming vanilla frosting with cheerful 
raspberry stripes and lime-green trim. 
Inside, the brightly painted images of 


saints bore more than a passing resemb- 
lance to the deities I had met at the Ashta 
Lakshmi Temple. 

Along the seafront is a long, breezy 
promenade where Pondicheirians go to 
socialize in the evenings. At the south 
end is the Park Guest House where the . 
large, comfortable rooms have bal- 
conies overlooking a flower garden. I 
went to sleep to the fluttering of fruit 
bats swooping past my window. On the 
back of the door was a notice that cau- 
tioned me not to smoke, consume al- 
cohol or invite a guest to my room. The 
edict was enforced by a big photograph 
over the bed: a white-bearded Indian 
man and an elderly European woman 
whose steady glare said, ‘Don’t even 
think about it!" 

These folks were Sri Aurobindo. -a 
revered spiritual leader, and his partner, 
a french artist who became known as 
The Mother. In the 1920s they foundeda 
noted ashram, which now owns the 
Guest House and other Pondicherry 
property. After Sri Aurobindo died. The 
Mother started Auroville, an experi- 
ment in international living that I vis- 
ited, six miles north of the city. 

. On my way back to Madras, my spir- 
its were lifted again at the Golden Sands 
Beach Resort a family theme park built 
around a Pop version of Indian culture 
and religion. Everywhere I walked T saw 
statues of lions and elephants and su- 
perhero-like gods from Hindu folk tales. 
Crossing a drawbridge over a moat, kids 
crowded through a miniature Mogul 
fort. Parents strolled around a big flower 
garden planted in the shape of India, 
each state outlined in hedgerows. 




INALLY I joined the families re- 
laxing on the beach. Fully 
dressed, they sat on the sand ana 
stared out at the Bay of Bengal. “So 
peaceful here! ' * one father murmured to 
me, smiling. Indian cities are among the 
most congested on earth; I could un- 
derstand why the people viewed all this 
vast open space with a kind of rev- 
erence. Evening crowds were beginning 
to fill the park behind me, but 1 was 
content where I was. listening to the 
quiet voices and the waves sploshing 
against the sand. 

Edward Hower. a novelist who spent 
two years in Indian as a Fulbright pro- 
fessor, wrote this for The New York 
Times. 




Out of the Past, 
The Portuguese 
Heritage of Goa 

By Martha Stevenson Olson 


O LD GOA, India — The 
small state of Goa, tucked 
away along India's west 
coast, is — like India itself, 
some mi ght say — a puzzlement, pre- 
dictably confounding expectations at 
every turn. 

It’s one of the places travelers to India 
go to get away from India. Its Por- 
tuguese, Catholic heritage lends the 
state a Mediterranean feeling — white- 
washed churches with ornate bell 
towers are perched on odd hills all over 
the place — but Hindus make up 60 
percent of the population now. 

The beaches, when compared to oth- 
ers in south Asia, are not dazzling, and 
yet there are many coastal resorts of a 
standard most of the rest of India can 
only dream about. In the 1 960s and 70s, 
Goa attained legendary status as a place 
where dharma bums, hippies and holy 
fools congregated in winter. Those 
palm-thatched communes by the sea are 
for the most part gone and in their places 
have sprouted condominiums, hotels, 
and restaurants. 

Goa is traversed by six rivers, flowing 
from the Western Ghats down to die 
Arabian Sea, chief among them the 
Mandovi, which divides North from 
South Goa. Its wide mouth and deep 
water made it an ideal port for the spice 
traders, colonists and religious cru- 
saders who enlivened the East Indies 
from the 15th through 19th centuries. 

The seafaring Portuguese, who ar- 
rived in 1510, established a colony 
about seven miles up the Mandovi at 
wbar is now called Old Goa, and even- 
tually made it the viceregal seat of their 
Eastern empire. The Portuguese hung 
on in Goa until 1961, when it and a 
couple of other Portuguese enclaves. 
Daman and Diu, were taken over by 
India. 

In 1843, the Portuguese moved the 
regional capital from Old Goa to Panaji, 
or Panjim as everyone calls it. which 



The beach at Calva. a low-key shore resort in Goa. 


remains the state capital The town 
sprawls near the mouth of the Mandovi, 
on its south bank. It bustles relative, to 
the rest of Goa, but is still a small 
enough place to traverse on foot, and 
much of the architecture retains Por- 
tuguese influences, with red-tiled roofs, 
wrought-iron balconies; and narrow, 
winding streets. Real architectural 
splendors are to be found up river in Old 
Goa, which bristles with 16th-century 
churches, convents and cathedrals. 
Nonetheless, when our plane from 
Bombay landed at steamy and lethargic 
Dabolim Airport, a' 20-minute drive 
south of Panjim, near Vasco da Gama, 
we did what most visitors to Goa do — 
we went to the beach. 

We first tried Benaulim, a place in 
South Goa described in our guidebook 
as tranquil. But the nice people who ran 
the place couldn’t make up for its short- 
comings — mosquitoes and lumpy mat- 
tresses — and me beach, while wide 
with frisky surf, was fairly crowded. 

off to thi resorts The next morn- 
ing we decamped for the resort area 
about two miles to the south. This six- 
mile stretch of beach, which includes 
Varca and Cavelossim beaches and ends 
at the wide and muddy Sal River, is 
much less frequented, cleaner and quite 
tranquil. The resorts are set back at feast 
200 meters from the high tide mark, as 
state law requires, and most are luxury 
hotels, catering to European tours in 
winter and affluent Indians in summer. 

The shore along this stretch was 
nearly deserted, most likely because of 
the season — May, the honest, stillest 
month, when most Western tourists 
have left but the monsoon has yet to 
anive. (Also , the surf here, and all along 
the Goan coast, can be quite dangerous.) 
In any case, die hotel pools seemed to be 
more frequented. 

When we finally got to Panjim, we 
went oo a sunset cruise on the Mandovi, 
complete with dancers, live commen- 
tary, music and.a cash bar. Even though 
it was touristy kitsch, it was fan, with the 
sun golden on the water and the fish- 
ermen on passing boats spontaneously 
doing elastic dances to the music waft- 
ing past them. 

We couldn’t find much else to do in 
Panjim. We strolled the streets, buying 
roasted cashews and raisins, and let the 
children play in the municipal park near 
the Church of the Immaculate Concep- 
tion, a whitewashed confection that sur- 
veys most of Panjim. 

O N our second day , we took a taxi 
to Old Goa, and wandered 
around in the hollow ruins of the 
Sl Augustine Church, with its towering 
belfry, overlooking the more impressive 
churches and cathedral below. Across the 
road was an intriguing little church set 
amid an oasis of green, but our first 
commitment was to the big sights, 'and so 
we went down the hill to view the body of 
Sl Francis Xavier. 

Francis Xavier's spirit officially de- 
parted his body on Dec. 2, 1552, on the 
island of Saurian, off China, but, despite 
the reported dredging of the body in 
quicklime and the passage of time, the 
flesh did not decompose. After some 
time, the body made its way back to Goa 


by way of Malacca, and in 1622 he was 
canonized. 

The coffin was opened every year on 
the saint’s feast day, Dec. 3. Finally in 
1 755, the king of Portugal, Dam Jose L 
ordered the coffin not be opened with- 
out special orders from him. The Por- 
tuguese took oyer control of the body, 
and the church where it rests, in 1765. 
and through the small windows along 
the coffin, it appears remarkably well 
preserved. 

The saint's coffin is an important 
site for Catholics, and the 



many tourists of other faiths, too. Fran- 
cis Xavier's remains are in an embossed 
silver coffin^ with cherubim perched on 
fbemarble base; paintings and bas-relief 
sculptures of heads line the tiny chapel’s 
four walls, richly filigreed with plaster. 

Having marveled at the mausoleum, 
the next sight was the cathedral. In 
contrast to the basilica's dark interior 
andltalianate ornament, the cathedral is 
a vast, airy whitewashed hall. Its altars 
are finely wrought — the front altar is a 
soaring marvel richly carved, gilded 
and ornamented — but the overall feel- 
ing is one of gentle limestone decay. 

After visiting these two -religious 
sites, and maybe for good measure the 
nearby Archaeological Museum, with 
its portraits of phlegmatic-looking Por- 
tuguese viceroys and Hindu stone 
carvings, someone with only a passing 
interest in religious or historic buildings 
might happily return to the beach. But 
there is a tuneless serendipity to be 
found in wandering around Old Goa. 
and some of the least impressive edi- 
fices can be the most memorable. Take, 
for example, the Chapel of St. Cath- 
erine, the first place of worship erected 
in Old Goa. It is nestled beside a narrow 
cobbled lane that descends 'behind the 
Archaeological Museum. Very little of 
the Original ornamentation remains, but 
its austere stone slabs and roughly 
carved beams, combined with its peace- 
ful setting, make it worth a visit. 

Settling Down 

We decided to try the beaches. to the ' 
north of Panjim, rhe ones with the repu- • 
tations for nude sunbathing, flea mar-! 
kets and high times. We first went toi 
Anjuna, a sandy crescent anchored by a! 
rocky point and headed by a bluff. The ■ 
beach was almost deserted, save for a . 
couple of Indian families and some, 
gawky Indian youths whose stares made ' 
us uncomfortable. 

We finally settled in Baga at Captain 
Lobo’s Beach Hideaway, a complex of 
apartment-style suites. There were two 
small pools set amid a garden and ver- ' 
anda-style restaurant, and two friendly 
Great Danes; the guests were mostly, 
well-to-do Indian families on vacation. ! 
We swam, ate tandoori chicken and 1 
mangoes, chat t ed with the other guests ' 
and occasionally strolled to the beach or - 
to other restaurants or went shopping. ; 
Mostly, we lazed. 

Martha Stevenson Olson, who writes 
frequently about Southeast Asia, wrote 
this for The New York Times. 


Cuba Stepping Up Efforts to Get Back on the Beaten Path 


By Lairy Rohtcr 

.Vnr York Tunes Service 




AVANA — Despite a recem series of 
bomb attacks on a half-dozen hotels, 
restaurants and discotheques catering 
to foreign visitors, tourism is flour- 
ishing here, and the Cuban government, which for 
tliree decodes rejected the industry as an ex- 
ploitative capitalist execration, is stepping up its 
efforts to attract travelers and provide than with 
new facilities and attractions. 

At an October news conference in Havana, 
i‘ - Eduardo Rodriguez de la Vega, deputy minister 
. of tourism, acknowledged that the widely pub- 
licized bombings this summer, which Cuba at- 
tributed to Miami exile groups, had slowed the 
crowth of tourism. But he shrugged off the idea 
of any long-term effects. “In spite of the in- 
cidents that have occurred here, Cuba continues 


to be one of the safest tourist destinations in the 
world,” he said. After the arrest early in Septem- 
ber of a young Salvadoran, no farther attacks 
have been reported. 

Just three years ago, Cuba attracted only 
600.00Q foreign visitors. But by 1996, that figure 
had risen to 1.2 million. Rodriguez de la Vega 
said he felt comfortable predicting that by 2000 
as many as 2 million foreigners could be visiting 
Cuba annually. 

Under the U.S. Trading With the Enemy Act, 
it has been illegal since 1963 for Americans, with 
a few exceptions, to spend any money in Cuba. 
Though the embargo would have to be lifted by 
the federal government to change this, visitors 
who look, sound and behave as if they are from 
the United States can increasingly be en- 
countered in Cuba. 

Havana has sought to compensate for isolation 
by courting Canadian, Latin American and es- 


pecially Europeat 
oiapro 


m tourists (and, for Americans 
eager to avoid problems when they return home, 
by offering the option of not having a Cuban visa 
stamped into their passports.) 

For tourists of any nationality, combining a 
visit to Cuba with a stopover somewhere else in 
the region is becoming easier than ever. In the last 
year, for instance, nonstop air service between 
Havana and Montego Bay, Jamaica and Gua- 
temala City has begun, and Mexico’s . Aero 
Caribe line has announced plans to fly three times 
a week between Cancan and Varadero, Cuba’s 
principal beach resort 

A Major Hotel Project ^ 

To accommodate the anticipated influx, Cuba 
has embarked on a major hotel construction and 
renovation effort Only 27;000 rooms are deemed 
suitable for foreign tourism, but die government 


hopes to double that figure in less than a decade 
through joint ventures and other collaborations 
with established European and Latin American 
hotel chains. On Oct 4, for instance, the first 
Club Med in Cuba opened in Varadero. 

While numerous other hotels in the capital, 
Varadero and other popular resorts like Cayo 
Coco already meet international standards, the 
pickings remain much slimmer for visitors to 
provincial capitals like Santa Clara or Ca- 
raaguey. There, the majority of hotels are an- 
tiquated, service is lackadaisical and food both 
mediocre and limited. 

Nor can Cuba be considered a bargain des- 
tination. Although some tourists, Canadians and 



— or at lease legal ones — must take place in 
dollars or other hard currencies. The feeble Cuban 


peso trades at exchange houses open to Cubans 
only at tee rate of 23 pesos to tee dollar. 

In addition, tee government has recently im- 
posed taxes on private rental lodgings m an ap- 
parent effort to discourage the residents of houses 
and apartments from toting out rooms to for- 
eigners traveling on tight budgets. Rodriguez de la 
Vega made it clear teat tee Cuban government has 
no interest in such visitors, saying they are not 
people who bring money to the country. 

As a result of that philosophy, charges for 
hotels, transportation and. meals in Cuba are at 
much the same level as'at other Caribbean des- 
tinations, in return for what is generally a lower 
level of comfort. Nevertheless, many travelers 
have learned to cut costs by dining at palatiarvs. 
small, legally sanctioned restaurants that are run 
from private homes and provide dramatically bet- 
ter food and service than tear state counteiparts, 
and by relying on clandestine private taxis. 


I. 

r ' ,r 




i ■ 






PAGE 10 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, 


ARTS GUIDE 


MOVIE 


1 AUSTRIA 

Vienna 

KunstHausWien, tel: (f) 712- 
0495, open daily. Continuing/ To 
Jan. 18: “Herb Rifts: Work." 200 
works by the photographer of fash- 
ion and celebrity (bom 1952) who 
ts drawn to pure lines and strong 
forms. 

1 BELGIUM 

Brussels 

Palais dee Beaux-Arts, tel: (2) 
507-8466. dosed Mondays. Con- 
tinuing/ To Jan. 4: "Kunst in de 
Bank.” A selection of 200 works 
from the late 15th to the early 20th 
century, from a collection heW by 
Banque Paribas. 

Tervuren 

Royal Museum for Central 
Africa, tel: (2} 769-5211, dosed 
Mondays. Continurng/To April 30: 
"Legacies of Stone: Zimbabwe, 
Past & Present.” An overview of 
the cultural richness and diversity 
of the country, from the rock paint- 
ings ot Paleolithic tones, to the 
stone architecture of Great Zim- 
babwe in the 12th and 13th cen- 
turies and to the multimedia con- 
temporary art scene. 

■ BRITAIN _ 

London 

Barbican Art Gallery, tel: (171) 
638-8891. open daily. Continu- 
ing/ To Dec. 14: “Don McCullin: 
Sleeping With Ghosts." More than 
200 pnnts covering the British pho- 
tographer's war. social documen- 
tary and landscape photography. 
National GsUery, tel: (171) 747- 
2885, open dafly. To Feb. 1: “Mak- 
ing and Meaning: Holbein's Ambas- 
sadors." The exhibition explores 
the personal and political back- 
ground to the commissioning of this 
picture of two French representa- 
tives at the court of Henry VIII. 
Serpentine Gallery, tel: (171) 
402-5075. open daily. To Jan. 25: 
“Piero Manzoni." Reopening after 
a year of renovation, the gallery 
presents three-dimensionaJ floor 
pieces and drawings created by 



In Berlin: Stravinsky, pictured by Irving Penn in 1948 . 


MARK 31 -50-47-83. dosed Sundays and 

™ Mondays. To Feb. 14: "Irving 

Humlebaek Penn: Photograph ten.” A retro- 

Louistana Museum of Modem apectw of approxim ately B O pho- 
Art, tel: 49-19-07-19, open daily. '°SraplTO by the American photo- 
To Jan. 1 1 ; "Alberto Savin I o: Paint- i^makstjbom 1917)- 
ings, 1 927-1952." Thirty mythoio- Nation atgaterie,^ tel. (30) 

glcal compositions, still life® and 

landscapes that combine abstract ToJan. 4. Ri^t 

andfigurative elements, by Giorgio 

rta Kwnthor Kunstler, 1933-1945. An exh lb- 


more than 70 contemporary Italian 
artists, such as Ada ml. Sandro 
CNa, Zoran 'Music and Mlmmo 
Paladino. 

Venice 

Palazzo Grass!, tef: (41) 522- 
1375, open daffy. Continuing/ To 
Jan. 11: “Expressionismo Te- 

desco: Arte e Sodata. 1909- 
1923," 250 works by Gorman Ex- 
pressionists including Beckmann, 
DU, Grosz. Kokoschka, Kirchner. 
Pechstein and Schmidt-flottfuff. 

■ HITHERlAHPt 
ROTTGRBAU 

Museum voor Votkenkunde, tel: 
(10) 411-2201, dosed Mondays. 
To April 19; "Syrian Icons." More 
than 40 Icons from the 19th cen- 
tury: White the figures represented 
— Mary, the Apostles and local 
saints —are pari of the tnacftional 
iconography, the decoration of the 
do thing and furniture is typically 
Oriental. 

■brain 

Valencia 

IVAM Contra Julio Gonzalez, tef: 
(6) 386-3000. closed Mondays. To 
Dec. 14: "Joan Mitchell.” More 

than 40 paintings document the 
evolution of the American Abstract 
Expressionist (1 926-1 992). 

■ SWITZERLAND 

Geneva 

Muses Raft, tel: (22) 310-52-70, 


NewYorx - 

Metropolitan Museum of Art, tel: 
(1) 212-570-3791, dosed Mon- 
days. Continuing/ To Feb. B: 
"Jackson Poflocfc Sketchbooks 
and Drawings." The exhibition fea- 
tures three early sketchbooks, 
ranging from the mid- 1930s to 
1940, and a selection ot drawings, 
by the American Abstract Expres- 
sionist painter (1912-1956). 

Washington 

National Portrait Gallery, tel: 
(202) 357-2700, open daily. Con- 
tinuing/ To Jan. 25: “Edith Whar-. 
ton's World: Portraits ol People 
and Races.” More than 100 paint- 
ings, miniatures, manuscripts and 
memorabilia from the author's fife 
(1862-1937). 

■ EUROPIAN TOUR 



- mm^ 

... ' 

" T ■ 

kv vjY;-' v-'.-n. 




FinnishRadlo Symphony. Under 
the direction of Jukka-Pekka 
Saraste, and with Christian Tetzlaff, 
violin, the orchestra performs 

works by Sibelius and Lindberg: - - . • . 

Toulouse. France (Dec. 8). Vaien- Joanne Whatley and Bill Murray in “ The Man Who Knew Too Little 
da, Spain (Dec. 9). Uwsmbourg 

(Dec. 11), Brussels (Dec. 12). Or- j|A IBMIAMT sideshow of Southern Gothic however, you have to do the- 

Sn F pSnSc. 1 1 3 5 t ° Ur -»»»«-•»«• wnricns: Minerva Orma P. Hall mental equivalenrof squinting' 


Orchestra de Paris. An all-Beeth- i_, r^Muio/ui umwwjj, . » — — — 

oven program featuring symphon- Directed by C tint. c.astwooa. w j l0 walks an infla- 
tes No. 7 and 8, and the Konig U-S- -. ginar y ring, and a crackpot in- 

StephanOverture. Is performed by There’s some powerful mojo ^ a 5^ 0 f flies 

the orchestra, conducted by working in Clint Eastwood s in his head. The Ladv 

MM&WS: 

Valencia (Dec 1 6). Seville (Dec. 1 7) 9°°“ ^ ®. ut , herself, headlines this freak 

and Palma de Majorca (Dea 19). *6 tnagic of the name s rack- s j J0W ^ injects -the. idling 

hng voodoo pnestess, the spell ^.minute affair with mneh- 

CLOSING SOON doesn’t quite have the anti- needed enemy and nio- 

. -j. U[ n _- cipated effect unless East- p-^nnim Her sassy patter, lib- 

erallypeppe^hSmty 

artists. Whfoechauel Art Gallerv. ence 10 slee P- South ! and natois, almost makes up 


Muses Rath, tel: (22) 310-52-70. Wolfgang Sawatiisch. The Spanish' 
closed Mondays. Continuing/ To* tour In dudes Madrid (Dec 15). 
Jan. 11: "Moments' of Eternity: Valencia (Dea 16), Seville (Dea 17) 
Egyptian Art From Private Colleo and Palma de Majorca (Dea 19). 
Hons." 200 works, created as a 

means of attaining the world be- CLOSING SOON 


De Chirico's brother. 


Paris 

Louvre, tel: 01-40-20-51-51, 
dosed Tuesdays. Continuing/ To 


Manzoni (1933-1963). a con tom- Jan. 5: "Graveurs en Tailte-Douce 
porary of Klein, Rauschenberg and ^ Anaens Pays-Sas, XVe-XVIe 
Jasper Johns. Manzoni's work an- Siectes." The exhibition features 


ition of 130 works by painters, 
sculptors, architects and photo- 
graphers who fled Hiller's Ger- 
many. 

•fllHICII 

KunsthaDe der Hypo-Kuttursttf- 
tung, tel: (89) 22-44-12, open 


Egyptian Art From Private Collec- 
tions." 200 works, created as a 
means of attaining the world be- 
yond, highlight the different genres 
and periods of Egyptian art from 
the 4th millennium B.C. to the Ro- 
man occupation. 

Zurich 

Kunsthaus, tel: (1) 251-6765. 
dosed Mondays. Continuing/ To 
Jan. 18: “Amok! Bockiin, Giorgio 
De Chirico, Max Ernst Eine Reise 
ins Ungewisse." More than 200 
works by Bockiin (1827-1901), 


of Good and Evil 


wackos: Minerva (lima P. Hall mental equivalenraf squintin' 
as the aforementioned voodoo your eyes, so the credibility isj 
queen),, a retired chauffeur only fuzzily ridiculous. You 4 
who faithfully walks an iiria- must also forget the irrimeas-J 
ginaiy dog, and a crackpot in- urably superior movie (* ‘The* 
vector with a swarm of flies Day of the Jackal,” 1973) on’ 
tethered to his head. The Lady which it was based. And youi 
Chablis, a drag diva who plays must focus on its basest pleas-; 
herself, headlines this .freak ures, such as Bruce WiUi&V 
show and injects -the. idling ice-cold performance as the)" 
137-minute affair with much- assassin at the heart of the> 


Dec. 7: “Lines From Brazil. "Works 
by three contemporary Brazilian 
artists. Whitechapel Art Gallery, 
London. 

Dea 7: “L 1 Autre Visage: Masques 
Africalrts de la Collection Barbier- 
Mutler." Banque Generate du 
Luxembourg, Luxembourg. 

Dea 7: “Carl August Ehrensvard." 
Nation atm useum, Stockholm. 
Dec. 8: "Kunst uhd Wahn." Bank 


ice-cold performance as the)" 
assassin at the heart of tha 

d P e ®* t oave . 106 needed energy and mo- stor y. When an elite, myster-: 
a P“5f i e£ 5S'*J m !??L E ??‘ mentum. Her sassy patter, lib- loa& killer (Willis) accepts a. 
wood intended to pirt the audj- e^Uy peppered with profanity $70-million hit job on a high-' 
ence to sleep. Like die South, and jjatois, almost makes up up figura m the American gov-y 
the movie is sun^p&MiK and for Cusack’s zombificanon. A an international-' 

somnoienL Jotm Cusack is a stylish and scenic failure, fioot i- 2 uy ream scrambles.- 
zombie m the leading rok of Eastwood’s version of “Mid- fjjj peLiy Director Carter' 
John Kelso, a Yankee jOur- night” will surely serve the tsidnev Poitierl i 

nalist based on the book’s au- savannah Chamber of Com- WOI fcj« e Valentina! 

thor, John BerendL With his ^rce well. But it is a sur- <d£b -VaMpS 

keen wix and sharp observe- prisingly hidebound view of i 

tions, Berendt most have been EwSIm Gothic myth from a obhS to^rorine hraSntd' 
considerably livelier flianCu- man who thoroughly de- 


Chirico (1888-1974) and Ernst Austria Kunstfcurum, Vienna. 


tidpated Conceptual art and Arte 
Povera. 

Tote Gallery, tel: (171) 887-8000, 
open daily. Continuing/ To Jan. 4: 
"The Age of Rossetti. Burne-Jones 
and Watts: Symbolism in Britain, 
1860-1910." The works of the Brit- 
ish Symbolists are displayed 
alongside painbngs by their Con- 
tinental contemporaries, Odilon 
Redon, Gustave Moreau and 
Fernand Khnopff. 

Manchester 

Manchester City Art Gallerias, 
tel: (161) 236-5244, open daily. To 
Feb. 22: "Pre-Raphaelite Women 
Artists." Landscapes by Rosa 
Brett allegorical subjects by Evelyn 
de Morgan and historical paintings 
by Eleanor Fortescue Brick dale 
present the hallmarks of the style: 
vivid colors, dwalric fantasies, 
iconic presentation of women and 
sacred themes. The show brings 
together 90 paintings, watercolors, 
drawings and photographs. 


NOKIA 

9000 i 


des Anaens Pays-Bas, XVe-XVIe 7. . “E*" 

tio^SfflwTolSrSra^IS^^ bra -^ More 100 works ^ 


(1891-1976) that cover 120 years 
of painting from Romanticism and 
Symbolism to Surrealism. 


Dec. 8: “200 Years of Watercof- 
ors.” National Gallery of Ireland, 
Dublin. 


zombie in the leading rok of Eastwood’s version of “Mid- 
John Kelso, a Yankee jOur- night ” will surely save the 
nalist based on the book’s au- savannah Chamber of Com- 
thor. John BerendL With his meroe well. But it is a sur- 


van Leyden (1494-1533). 

Musas Cemusehi, tel: 01 -45-63- 
50-75, closed Mondays. Continu- 
ing/ To Jan. 4: “Pierres cflmmor- 
taiite." More than 100 Chinese 
jade pieces dating back to the 1 5th 
century B.C- 

Musee d’Orsay, tel: 01-40-49-48- 


and Benjamin Constant. 

■ HOMO KOHtf 

University Museum and Art Gal- 
lery, tel: 2975-5600, closed Sun- 
days. To Dec. 15: "Heavenly 
Horses.” A selection of 100 objects 
reflecting equestrian art in China. 


considerably livelier than Cu- man who thoro ughl y de- 
sack’s Kelso, who lucks into a bunked the fiction of the gal- 
murder case while visiting Sa- [ant frontier in * ‘ Unforgiven” 


14, dosed Mondays. Continuing/ The exhibition features represent- 

Trt Idrt Ifi' “I Q r/ilksHion Uaun _ i u_. _ _ . . _ «. 


To Jan. 18: "La Collection Have- 
meyer: Quand I'Amerique Decou- 
vralt rimprasaonisme." 40 paint- 
ings and pastels by Mary Cassatt, 
Courbet, Degas and Monet, from 
the collection of Henry Osborne 


a tions of the horse, from the first 
stone carvings of the Neolithic peri- 
od to paintings from the Ming and 
Qing dynasties. Another section 
features bridles and saddles from 
the Warring States and the Uao 


Havemeyer. an American baron of era. The show will travel to the 
the sugar industry, and his wife. Forbidden City In Beipng. 


And to March 2: "Vihem Ham mar- 
sh oi." A selection of paintings by 
the Danish artist (1864-1916). 

■ O I KM A NT 

Berlin 

Gaierie Camera Work, tel: (30) 


■ ITALY 

Bologna 

Galleria cfArte Modems, tel: (51) 
50-28-59, dosed Mondays. To 
March 8: “Arte Itaiiana: Ultimr 
Quaranfanni." Features works by 



v annah, Kelso is meant to be 
our guide into this alien uni- 
verse, but he's as daft as an 
infatuated lover, swooning 
over a Savannah wrapped in 
mystery and hung with gar- 
lands of Spanish moss. The 


obliged to spring imprisoned; 
l!*\ operative Declan Mul-> 

gucejT&J ted. fiora: 

and managed to makeT good 


movie out of the simplistic 
“The Bridges of Madison 
County.' Y/ata Kempley, WP) 


the Jackal and knows the tricks^ 
of his trade, agrees to help thc> 
coalition, provided he can see;, 
his old flame Isabella (Math- 
ilda May), a Basque separatist 
As the Jackal moves closer to! . 
his target, Mulqueen and com-" m 


Egyptian necklace clasp, exhibited in Geneva. 


CbncNiggU 


mystery and hung with gar- THEManWhO dda May), a Basque separatist 

lands of Spanish moss. The Knew TOO LnTLE ^ * e Jac J^, moves cl ? ser m ‘. 
dty is the leading character in Directed by Jon Amiel. US. ^ tar § e1, Mulqueen ana com-; 
the nonfiction novel, but here “The Man Who Knew Too ^ rantlc . tn ‘ ; 

it not only steals scenes but Litde” is yet another movie track him. But the assassin is a; 
upstages the mystery sur- high oh concept and low on master disguise^ at least 
rounding Jim Williams (Kevin execution. Yearning to com- to anyone who can’t recognize 
Spacey), a nouveau riche an- bine the lunatic spirit of the the star of ‘‘Die Hard” wear-, 
tiques dealer accused of killing Pink Panther, the panache of ™g silly wigs and mustaches, 
his botblooded young lover, James Bond and the suspense What we have here is two ex-. 
Billy (Jude Law). The shoot- of Hitchcock, this comedy pensive movie stars shoulder- 1 
ing occurs the night of WIl- tuyns out to be a one-joke barging their way through a 
li aim’s prestigious Chris tmas movie executed in routine flimsy movie that has been 
party, which draws Savan- fashion. The single joke re- rewritten and rewritten — not; 
nah’s most prominent and col- volves around a dunwitted to be abenerstoiy, butto make 


lianas ’s prestigious Christmas 
party, which draws Savan- 
nah’s most prominent and col- 
orful citizens 'and serves as 
Kelso’s introduction to a 




•*\< 


f I 

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1- volves around a dunwitted to be abenerstoiy, but to make 
is visitor to London who thinks them look good. To attract 
a. he is enjoying a night of par- worldwide audiences to this, 
ticipatory theater. In fact, "he race-against-the-clock story, 
has blundered into a plot by we have a mostly European.' 
Mgh-ranking British and Rus- lineup. (Desson Howe, WP) 
sian intelligence officers to ex- 
plode a bomb at a lavish hotel ANASTASIA 
banquet where an Anglo-Rus- Directed by Don Bluth and \ 
sian peace treaty is to be Gary Goldman. US. 
signed. Renewed hostility, the “Anastasia,” die latest anira-! 
officials gleefully foresee, will ated feature fiom Don Bluth' 
restore their budgets, increase Gary Goldman, is a tri-'. 
staff and get tiiem new wea- umph of survivability and^V 
pons-md poisom Derived sampling. If yon can’t beat the; ' 

paw-stepping momentum of; 
Man by Robert Farrar, .die & MicteyUber Alles enter- j 





plotting relies heavily on mis- 
interpreted words, like ambas- 
sador (actually the cigars, not 
the envoys), port (the wine, 
not the harborj^gone (not dead 
but departed), that probably 
convey more humor on the 
page than on the screen. 
Neither an inspired physical 


tainment machine, then inw 
irate, imitate, imitate! Bluth; 
and Goldman, graduates ofi 
Walt Disney’s military indus-! 
trial complex (where they! 
shaped such films as “Pete’s; 
Dragon” and “The Res- 1 
cuers”), have fashioned their) 


comedian nor the bertxcuuy ■R?®* to 

of clever lines, genuinely in- ^ Disne y J"thout incurring 


ventive situations or intensi- ^ Thfy’ v p also in-i 

fying suspense. Bill Murray movie with enough ‘ 

rides through the silliness of of their own creativity to claim i- 
“The Man Who Knew Too authorship. “Anastasia” isn’t' 
Little” mainly on a funnyman 8°hig to make history — in.* 
reputation established 13 ' fact, its retelling of the czarist 
years ago in ‘ ‘Ghostbustcrs.’ ’ demise is clearly anything but. 
[Lawrence Van Gelden NYT ) history. The songs, by Lynn! 


years ago in “Ghostbusters.” 
(Laurence Van Gelden NYT) 


Here is your chance to win the Nokia 9000i 
Communicator, the all-in-one communicator, with 
a phone, fax, e-mail, calendar and the Internet For 
the second prize you could win the naturally-shaped 
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Friday over the five week Reriod. If you miss a city, 
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1998. 

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The Jackal 

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“The Jackal” is painted -—or 
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are hardly the bouncy, sing- 1 
along standard of even Walt! 
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the movie is infinitely more 
enjoyable than Disney’s! 
sleazily commercial "Her-! 
cules.” (Desson Howe, WP) 


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INTERNATIONAL HERALD TRIBUNE, FRIDAY, DECEMBER 5, 1997 


fe&EU 


t «e frequen 


T TRAVELER 


f 


$ 


X 


Overbooking Leads 
To More Bumping 


By Roger Collis 

founmional Herald Tribune 


Y UU can expect it sooner or later. 
Tbat gaggle of people at the de- 
pasture gate waving tickets as 

people file past to board the plane 
"wans that the flight is overbooked and you 
laie-arrival are about to he bumped, 
whether. y° u make the flight (and your 
meeting m Hong Kong) or m which class 
you fly (you might be upgraded or down- 
graded) is likely to depend cm how much 
you paid for your ticket, your preeminence 
in the frequent-flier hull of fame and your 
management style. It's much the same pro- 
cess as trying for an upgrade; except this 
time it s a matter of survival — getting a 
seat on the plane! 

- ■ ® ““Ptog' or “involuntary denied board- 
ing id airline jargon, is what ha pping 
when you are refused a seat on a flight for 
which you have a confirmed reservation. 
The reason passengers are bumped is be- 
cause airlines oversell flights by up to 50 
percent to compensate, they claim, for no- 
shows — people who fail to turn up for a 
flight on which they are booked. This is the 
work of airlines' “yield management" 
aimed at maximizing “load factors, ** or the 
number of seats filled. 

No-shows are most likely to be full-fare 
travelers with flexible tickets who fail to 
cancel a booking, or make multiple backup 
bookings on several flights or airlines. 
Bumping for" them can mean bumping 
down a class (or bumping up a class if 
you're lucky): It is leisure (and business) 
travelers on restricted 
tickets in the back of the 
plane who are most likely 
to be left at the gate. 

Ironically, you are 
least likely to be bumped 
off a low-cost no-frills 
carrier. Yon either show 
up or lose yoor ticket. 

“We do not overbook be- 
cause we don't have the 
problem with no-sbows 
that afflict our' high-cost 
brethren.’' says Tim 
Jeans, marketing director 
of Ryanair in Dublin, 

“because the majority of 
our tickets are nonflex- 
ibie and no ore fundable: If people don’t 
show up they forfeit their fare.” 

Airlines claim that bumping doesn’t hap- 
pen nearly as much these days because their 
yield-management systems are fine-tuned 
to forecast no-shows on a seasonal, daily 
and per-flight basis. "We would never re- 
move a must-fly premium passenger from a 
flight: normally we get more volunteers 
than we need.’* says Philip Maddock, su- 
pervisor, passenger services, for American 
Airlines at Heathrow. 

Industry insiders are skeptical. Airlines 
are enjoying a sellers' market as growing 
demand for seats marches capacity for the 
first time in a decade. The Association of 
European Airlines (representing 26 carri- 
ers) reports 66.5 percent load factors for 
October within Europe and between North 
Africa and the Middle East; 74.3 percent in 
the Far East and 79.9 percent in the North 
Atlantic. “There are signs that airlines are 
increasing levels of overbooking to keep 
planes as full as possible,” says Mike Platt, 
director, commercial affairs at Hogg Robin- 
son Travel in London. “This in turn is 
resulting in more travelers being turned 
away despite having a confirmed reser- 
vation.” 

Duplicate Bookings 

Sefik Yuksel, general manager, trade af- 
fairs at the Association of European Air- 
lines in Brussels, says: “Competition be- 
tween rival computer reservation systems 
in some markets encourages travel agents to 
moke duplicate bookings — including fic- 
titious names — to fulfill incentive targets. 
Airlines find it hard to manage such un- 
predictable no-show rates: It really screws 
up their systems. So airlines compensate by 
overbooking more, which may mean that 


travelers are more likely to be bumped.” 

Richard Lovell vice president Europe 
for Carlson Wagonlit Travel says: “We 
t it sooner or later, don’t have any hard figures; it's more' an- 
ecdotal But we're getting more complaints 



about airline overbooking. Four years ago, 
you could usually get a seat on another . 
flight within a short rime. Nowadays if 
you're bumped, there’s a pretty good 
chance there’s nothing available for some 
rime because of higher loads. 

“I commute to Paris and coming back to 
Loudon Friday evening I know damned 
well that if I don ’t get my flight at 7:30 1 will 
not be able to get the one at 8:30 and little 
chance of making 9:30. In which case I have 
to stay over. 

“It’s only happened to me once, but it's 
inevitable that as planes get fuller, the impact 
of any bumping is greater because there’s 
less capacity to be bumped into. This en- 
courages business travelers on a full-fate 
ticket to make duplicate bookings, which 
they rarely cancel You don’t know whether 
you can make it at the airport for 6 or 7:30, so 
you book on both, because if you wait until 6, 
you probably won’t get on the 7:30. Airlines 
allow for this by overbooking even more. 

“It’s unlikely anyone turning up in good 
time with a full-fare ticket will be reftsed 
boarding. But business travelers are used to 
sliding in to the airport in a four-wheel skid 
just before the aircraft doors shut; it is late- 
shows that get bumped off the flight on the 
assumption that they are no-shows.” 

Melody Goodman, a director of Gray 
Dawes Internet Travel In London, says: 
“You’re always going to have an over- 
booking problem as long 
as airlines allow people to 
book a full-fare ticket 
without paying for it now 
and there’s no penalty if 
people don't turn up. When 
you nave an agent you have 
a certain amount of con- 
trol But with people now 
booking through the Inter- 
net, airlines are more vul- 
nerable to no-shows, and 
.one assumes they’ll be 
overbooking more. 

“Premium-fare passen- 
gers often get bumped at 
the last moment. If you 
can't get a pre-assigned 
seat you know there's going to be some sort 
of problem. If airlines won't pre-assign you 
a seat it means they haven’t got one to give 
yon. so you have to turn up early and hope it 
works out. A lot of the time it doesn’t work 
out You're unlikely to be left behind, but if 
you’re expecting to travel in business class 
to the Far East it’s no prize to find yourself 
in economy — although they'll bump an 
economy passenger off the plane to give 
you a seat" 

T HE Department of Transportation in 
the United States requires airlines to 
first ask for volunteers to give op their 
seats if a flight is overbooked — com- 
pensation is left to the airline. This may be 
conducted as a kind of auction at the gate, 
usually for cash or travel vouchers plus 
travel on another flight If you are bumped 
involuntarily, airlines must pay you $200 if 
they can’t get you to your destination in less 
than two hours on domestic flights and four 
hours on international flights. If the delay is 
longer, you are entitled to a maximum of 
$400 plus overnight expenses and a refund 
on your original ticket The European Un- 
ion has similar rules for airlines departing 
from airports in Europe. 

“If we are overbooked, we automatically 
go into (he auction process, offering com- 
pensation to volunteers to go on a later 
flight” says Andy Plews, a spokesman for 
United Airlines. “There, are no set limits. 
For example, if you are traveling from 
Washington to London, you might be 
offered departure an hour later on our flight 
to Paris connecting to Heathrow with arrival 
two or three hours late, plus cash or a travel 
voucher for $300. tf there's no later flight 
we'd pick up hotels, meals, phone calls and 
so on; there are no set limits; we try to solve 
the problem right there at the gate.” 


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THE CAR COLUMN 


Taming the Porsche 91 1: A New Charger 


By Gavin Green 




F the Porsche 91 1 were a horse, it would have 
been shot years ago. Brash, headstrong an-, 
imals are never popular. Unruly cars are even 
worse. After its birth, almost 34 years ago, 
Porsche and its customers quickly noticed there 
was a problem with the 91 1. Sure, those early 911s 
looked great, but with its rear-mounted engine, 
slung VW Beetle-like behind the rear axle, it was a 
treacherous handler. Combine a wet ro&d and a 
tricky comer, and 911s liked to wag their tails . 
behind them* in a manner which, in this instance, 
showed no signs of faithful obedience. 

As the years rolled 'on, 911s got foster and 
meaner-looking and pricier, but their intrinsic un- 
ruliness remained. There developed a sort of mach- 
ismo quality about them — “Hey, look what 1 can 
control..” rather as if you were taking a wild stallion 
out for its first ride. Other aitractioDS were that they 
wore handsome, well-built, good value and re- 
liable. There was certainly a practical face to them. 
But the Mr. Hyde side was still dominant To make 
matters worse, Porsche even launched a turbo- 
charged version. Sure it was fast. But it was' also 
bordering on the uncontrollable, at least if you used 
the performance potential. 

Nobody was more surprised at the sales success 
of the 911 than Porsche itself. On more than one 
occasion it tried to pension off the old charger. The 
marvelous 928, of 1978. was an attempt to tempt 
91 1 fans away with a more conventional sports car. 
It failed. The 924, the 944, the 968, all attempts 
either to replace or at least supplement the 911, 
have all crane and gone. Bat the 91 1 soldiers on. 

Sameness and Differences 

And now there's a new one. It's still called 911 
— for there is no more famous set of numbers in 
motoring than these. And it still looks like a 911, 
even though all the body panels, and all the mech- 
anicals are new. It's a 9 1 1 for the 21 st century and, 
what’s most impressive, it handles with a friend- 
liness that old 91 1 hands just won’t recognize. 

Whereas the old 91 1 had a hyperactive nervous- 
ness about its steering and general deportment that 
always kept the driver alert, the new one is far more 
stable. This does reduce the entertainment value, but 
it also makes for a much more relaxing car. A foster 



one, too. This new 911 strings cornere together with 
for more aplomb than the old monster ever did. ■ 
The mechanicals may be new, but their layout is: 
the same. A new fiat-six engine, water cooled this 
time rather than air cooled, which muffles much of 
the old din, is still out thee at the back, behind the 
rear axle, driving the back wheels. In extremis, the 
new 91 1 would probably still slide off the road, tail 
first, if you were daft enough to posh it so hard. Yet 
the longer wheel base, the new suspension, and all 
the other changes now make for a better balanced, 
more neutral handling car. 

You can still feel the car’s attitude change as you 
alter the. steering and accelerator pedal when going 
around corners at speed, and still marvel at the car’s 
lightning-reflex feedback. The difference is that 
now you can trust it and work together with it, 
rather than continually fight it as you try to meet its 
chall enge. It is now an ally, not an opponent 
The cabin is much roomier, too. Old 91 1 
were not only appallingly designed, with st 
sited with all the thoughtfulness of pieces of shot 
fired from a blunderbuss, with cabin plastics that 
'would look more appropriate swathing the interiors 
of 1970s Ladas, and wdh a windscreen that was so 
dose that it felt like you were wearing a pair of vast 


one-piece spectacles. The new one is not just more 
spacious, it’s also better designed and trimmed, 
although the switches — borrowed from the Porsche 
Bossier model — are rather shiny and cheap- look- 
ing. The rear seat is for briefcases, not people. 

It’s for the speed, the handling, the stupendously 
good brakes and the looks that you'll bay this 
Porsche. You will be disappointed on no front. 

.Maybe that idiosyncratic tame-me-if-you-can 
challenge is. missing, and maybe that was an area 
that old masochistic 911 lovers liked. But the 
upshot is a better and much more versatile sports 
car, one that can speed across continents, swoop 
over winding roads, , and look quite lovely when 
parked in the drive. 

• Porsche 911. About $110,000. Horizontally 
opposed six-cylinder engine. 3387cc, 300 bbp at 
6,800 rpm. Six-speed manual transmission 
(Tiptrouic five-speed automatic optional^ Top 
speed: 280 fcph (1/4 mph). Acceleration: O-lOOkph 
in 5.0 seconds. Average fuel consumption: 10.8 
liters/100 km. 

Next: The Alfa Romeo 156 

Gavin Green is the editor in chief af Car 
magazine. 


BRADFORD • BRISTOL • CARDIFF 



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PAGE 12 


Meralb 


INTERNATIONAL 


tribune 


nlRUSIIKD WITH THU NPW tUHK TIMli AND TUB WASHINGTON TOST 


Trouble in Russia 


• . While the attention of the world’s 
i ■financiers has been turned to the un- 
-javeling economies of Asia — South 
. Korea most recently — trouble is 
-•.brewing in another “emerging mar- 
ket” of more than passing interest to 
the United States. Most of Russia is in 
Asia, too. of course, but the epicenter 
of nervousness is west of the Urals, in 
■\the financial markets of Moscow. 

. -There, foreign investors have witb- 
- .drawn billions of dollars in recent 
r weeks, sending the stock market tum- 
bling and raising fears of a collapse of 
■the -ruble. Russian officials have ap- 
. pealed — again — to the Internationa] 
'-Monetary Fund, and also to private 
. -bankers, for help in aveiting a crisis. 

This threat to Russia’s fragile re- 
forms could not come at a worse time 
— although, in the peril s-of-Pauline 
.history of post-Soviet Russia, there 
could not have been a good time. For 
most of this year, optimism has le- 
gitimately held the upper hand. Pres- 
ident Boris Yeltsin emerged from heart 
surgery more energetic than he had 
.been in years. He appointed a new team 
of young reformers into an unusually 
. coherent government. Their intention 
was to whip an essentially bankrupt 
government into shape, collecting 
taxes at a normal level and selling off 
state-owned industries in order to -sta- 
bilize the ruble, allow the economy 
.-finally to begin growing, and pay the 
salaries and wages that many Russians 
. had not received for months. That in 
turn would have a political benefit, 
showing the majority of Russians that 
they could benefit from reform. 

Through the summer and into the . 
fall the government seemed on track. 
But now the dominant picture is of 
backsliding. With foreigners pulling 
out. major privatizations will have to 
be postponed. The central bank has bad 


Neglected Iraqis 


The UN Security Council is con- 
sidering whether to let Iraq keep 
selling limited amounts of oil to buy 
■ food and medicine and tend to other 
humanitarian needs. At first glance, 
that seems an odd step -while Saddam 
Hussein is still shutting UN arms in- 
spectors out of government buildings 
' and palaces where terror weapons may 
'be stored. Yet these supervised oil 
sales, conducted under strict monit- 
oring safeguards, make good policy 
and can ease some of die hardships on 

Lnten^a^econaimc sanctions; 

The oil-for-food program has been 
promoted from die beginning by the 
-United States, the country that has 
most consistently insisted on full Iraqi 
compliance with all UN resolutions. 
Washington's reasoning is that given 
Saddam's record of deception and de- 
fiance, the United Nations’ prohibition 
on unrestricted Iraqi oil sales may have 
to remain in place for a long time, and 
nothing is to be gained by prolonging 
the suffering of the Iraqi people. Bagh- 
dad, seeking a quick end to all oil 
sanctions, long resisted the program, 
and thus it (fid not actually get under 
way until late last year. 

Since then Iraq has been allowed to 
sell $2 billion worth of oil every six 
months, about one-fifth the level be- 
fore the Gulf War. The money goes 
into -an escrow account controlled by 
the United Nations. The proceeds are 
then divided, with one-third deducted 
to compensate victims of Iraqi aggres- 
sion and to pay for UN administrative 


expenses, and the remaining $1.3 bil- 
lion going to approved humanitarian 
purchases. At American insistence, the 
program has been designed so that the 
money does not pass through the hands 
of the Iraqi government, and the dis- 
tribution of food and other supplies is 
monitored by the United Nations to 
assure that relief gets to those actually 
in need, including the Kurds. 

Washington, which gets a say on 
every supply contract signed, is satisfied 
that the program has not been abused. It 
is being folly utilized. In die most recent 
six-month period, well over 95 percent 
of the money available for humanitarian 
purchases was spent. UN Seomiy- 
General Kofi Arman has suggested that 
the program be expanded. The next few 
weeks should be spent carefully de- 
termining exactly how much more rev- 
enue, if any, is required. 

Saddam Hussein has never liked this 
program because it assumes long-term 
oil sanctions and because he considers 
die monitoring provisions to be an af- 
front to Iraqi sovereignty. But he has 
shown no interest in using Iraq’s fi- 
nancial reserves, not to mention mil- 
lions that he has personally salted away 
in foreign banks, to buyiood and medi- 
cine for his people. Instead he has 
poured government funds into build- 
ing biological, chemical and nuclear 
.weapons and constructing opulent 
palaces for himself and his family. Hie 
United Nations was right to step in on 
behalf of Iraq’s neglected civilian pop- 
ulation and should continue doing so. 

— THE NEW YORK TIMES. 


Other Comment 


Historic Changes in China 

Truly historic changes are readily 
apparent inside China. While the 
wholesale metamorphosis anticipated 
by U.S. policymakers in 1979 has not 
yet visibly mellowed those at the apex 
of Communist Party power in Beijing, 
it has dramatically altered the social 
landscape in myriad villages, towns 
and urban neighborhoods. 

The essence of totalitarianism ties 
in the exercise of total control over 
people's lives, both public and private. 
By this measure, China has ceased to 
be totalitarian. 

Three of the Communist state's tra- 
ditional weapons of control have been 
visibly attenuated by two decades of 
reform: the power to allocate economic 
rewards ana punishments; the power to 
define cultural norms and tastes; and 
the power to control the movement of 
information, ideas and individuals. 


Today foe Chinese people exercise a 
far greater range of choices in living 
their lives than ever before. With the 
growth of market forces and the steady 
rise of non-state-dominated sectors of 
the economy, individual citizens have 
unprecedented opportunities to choose 
where to live, where to work, what to 
buy and, increasingly, what to think. 

Information sources have prolifer- 
ated in China like mushrooms after the 
proverbial spring rain. Hundreds of 
nongovernment-run magazines, news- 
papers, publishing houses and radio 
stations operate throughout die coun- 
try, disseminating information and 
opinion on a wide variety of issues, 
state-approved and otherwise. 

Political democratization has been 
slow to materialize at the national level, 
but the picture appears considerably 
brighter at the grassroots level. 

— Richard Baum, commenting in 
the Los Angeles Times. 


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FRIDAY, DECEMBER 5, 1997 

EDITORIALS /OPINION 


Brins Out the Plan and Make Netanyahu Choose 

C7 . . to cet most of the land, and for Isra 

W ASHINGTON — For foe past By Thomas L. Friedman Arabs anS retain control over a united Jwusa 

year Benjamin Netanyahu has own cards on but for lave to 


to jack up interest rates, which will 
discourage investment in factories and 
so postpone an upturn in the economy. 
Once again, enterprises are amassing 
huge debts among each other, and the 
government’s debt is growing, too — a 
^ani tiyeri way of saying that teachers, 
soldiers and nuclear power plant work- 
ers once again are not being paid. 

If all this stemmed only from a tem- 
porary loss of foreigner confidence, 
the IMF could step in without dif- 
ficulty. But, as in other emerging mar- 
kets since Thailand' began to collapse 
in July, the contagion may land any- 
where, but it takes hold only in eco- 
nomies with fundamental problems of 
their own. And Russia has plenty of 
those. Its reform team has recently 
been weakened by scandal, and polit- 
ical opposition continues to block 
needed changes in the tax code, the 
land law, pensions, die armed forces 
and much more. 

Moreover, the IMF is not coming 
fresh to Russia,- as it came to South 
Korea this week. The informational 
lending facility of last resort already 
has approved a $10 billion loan to 
Russia, with certain conditions. This 
foil it postponed a scheduled $700 mil- 
lion disbursement because Russia was 
not meeting those conditions — was 
not collecting enough taxes, among 
other fairly significant shortfalls. Now 
Russia's benefactors cannot ignore a 
failure to meet the terms of the ori ginal 
loan simply because the nation's prob- 
lems have worsened. But nor can the 
IMF and its biggest backer, the United 
States, afford to let Russia and its fra- 
gile economic reforms fail altogether, 

It isa terrible diiernmafbnt the first 
step has to be for Russia to get its own 
economic program back on track. 

— THE WASHINGTON POST. 


sent out two messages: (1) lam the only 
leader in Israel today who can cany the 
ball ova- the goal line — who can pro- 


move the tell downfield now because 
my hard-line coalition won’t let me. 

Prime Minister Netanyahu may be 
right It is time to find out Is his 
coalition the reason he is unable to do 
great things on the peace process, or is 
it a great excuse for doing'nothing? 

To find out, begin by looking at 
Israel’s political map. The electorate is 
divided into roughly three parts. 

There is the nearly 50 percent who 
voted for Labor and support Oslo. 
There is the roughly 25 percent the 
security hawks, who voted for Mr. Net- 
anyahu because they wanted to proceed 
with Oslo but wanted a better Oslo, 
with better Palestinian compliance and 
better territorial terms for IsraeL And 
there is the other 25 percent, the ideo- 
logical hawks, who voted for him be- 
cause they wanted to kill Oslo. 

It may be true dial he is the only 
figure today who could take the 50 


By Thomas L. Friedman 

percent from Labor, combine it with 
the 25 percent of his security hawks 
who want abetter Oslo, and produce a 
solid “75 for 75.” That is, a 75 percent 

■ _ - ■ I <?« 1 


The best way to produce ttet mo- 
ment of troth is for the Arabs ^ 
Palestinians to put their own cards on 
the table now, which they have miser- 
ably foiled to do. When was the last 
time Yasser Arafat spoke to Israehs 
about the possibilities that peace might 


SUilU /Jim /J. r — , 

majority for giving back 75 percent of open for both peoples 
D «i«lr nfltirkk tiiAiiM PAncrifiaV# 'Itlft AfflH LO 


the West Bank, which would constitute 
a serious Israeli offer for a final deal. 

Mr. Netanyahu wavers between 
those who want to improve Oslo and 
those who want to kill it with no fin- 
gerprints. He did do the tough Hebron 
withdrawal, but he also talks about the 
peace process as though it were die 
diplomatic equivalent of taking out the 
garbage, ana signals to Palestinians 


My guess is that he looks at this 


The Arab stales, led by EwpL reg- 
ularly rawnplain UbOUt hOW dishonest 
Mr. Netanyahu is, but their criticism of 
him disguises a deeper reluctance to 
accept Israel. The Arabs say they don t 
wahl to be economically and militarily 
dominated by IsraeL Fine. What re- 
lationship do they want? 

The Palestinians need to lay down a 
credible peace offer that would attract 
the Labor Party, the Likud security 
hawks and at least some of the ideo- 
logical hawks. That plan exists. It was 
negotiated by the Labor Party's Yossi 


largely through his political lens. He Beilin and Mr. Ararat s deputy Abu 
win not noake a decision on peace that Mazen before. Yitzhak Rabin died, 
could break up his coalition until he Without any obligation to either 
absolutely has to, until he is sure he has side, these two men sat down to see it 


downgraded everyone's exportations as 
much as he can, and until be is confident 
that the deal on the tahlg will bring him 
maximum pham** for re-election. 


Without any obligation to either 
sid e , these two sat down to see if 

they coaid produce a reasonable final 
deaL They did. Their plan calls for 
Tsr a al to keep virtually all its West 
Bank settlements, but for Palesti ni an s 


to get most of the land, and for Israel to 
retain control over a united Jerusalem, 
but for Palestinians to have their own 
Jerusalem capital, Al Quds.justoutside 
the city limns. Some key Likodfoks 
have already endorsed iL 

Mr. Netanyahu, on his own, will 
never mnire such a credible overture. 
He will always be asking himself: Why 
solit my party for a plan I don’t know 
Se ofoVritte will accept? Then HI 
have foe worst of all worlds —no party 
and no peace. ' , 

The only way to get him to choose: 
between peace and his party’s unity is 
for Palestinians (and Americans?) to 
taifft the initiative, officially make Bcil- 
in-Abu Mazen their plan, and put it on 
foe table: (It’s foe best Pale s tinians are 
going to get anyway.} 

■ Most of Labor would embrace it, and 
& significant portion of Lik u d would be 
tempted. Then Mr. Netanyahu would 
have a solid majority if he wanted to 
act. Then we could find out if he is 
really a leader capable of taking foe ball 
over foe goal line or is only a leader 
capable of dragging Israel into slow- 
deafo overtime. 

The New York Times. 


Human Responsibilities, Yes, but Don’t Be Dogmatic 



N APLES — The idea of ar- 
ticulating the essential 
principles of morality, a global 
ethic that can apply to every- 
body everywhere, is spreading 
with increasing insistence. 

It is foe other side of the 
awareness, often . aggrieved, 
that globalization of economics 
and technology -is no longer a 
contentious thesis but an irres- 
istible reality with concrete ef- 
fect on people's lives. 

Political, social, cultural ex- 
pectations and demands are 
dragged along in this vast new 
transformation, creating a sense 
that ruthless, impersonal forces 
of the market are rocketing so- 
cieties out of control. 

The constraints of religion 
and tradition are here shattered, 
with nothing solid to replace 
them, there asserted with ag- 
gressive, mindless violence in 
foe anempt to cope. 

A number Of intemBrirmal 
groups, politicians, theologians, 
scholars, technocrats, students 
have gathered in the past few 
years in an attempt to identify 
foe problems and what might be 
done about them. Unesco held 


By Flora Lewis 


foe second meeting of what it 
calk “foe universal efoics pro- 
ject” hoe, convening mainly 
philosophers to see what their 
discipline might contribute. 

Not surprisingly, they were 
able to agree that out common 
humanity does include some 
common, basic moral impulses. 
But they were a long way from 
agreement cm how these could 
be and even whether they 
should be codified as every- 
body’s obligations. 

Hans Kfing, a Catholic theo- 
logian fr om Tubingen Uni- 
versity in Germany who has 
challenged Vatican authority, 
has worked out a draft Dec- 
laration of Universal Human 
Responsibilities for the United 
Nations to consider endorsing 
as a complement to the Uni- 
versal Declaration of Human 
Rights on foe declaration's 50th 
anniversary next year. 

It has had foe sponsorship 
and advice of foe In ter Action 
Council, a club of former heads 
of government whose political 
experience and retirement from 


power leave them in a position 
to think large. 

It is a long, detailed docu- 
ment, avoiding obvious intense 
controversies such as abortion, 
seeking essential inspiration 
from foe Golden Rule. 

The philosophers were nor 
convinced. Philosophers look 
for distinctions, where politi- 
cians look for conmromise. It 
turns out dial it is a lot easier to 

recognize evils that are universal 
than foe universal good to which 
all should feel committed. 

“Cultural relativism,” the no- 
tion that good and evil, right and 
wrong, are judgments each cul- 
ture is entitled to make for itself 
with no hierarchy of differing 
values, is widely rejected. 

But some have a strong sense 
rhof the dominant discourse on 
values is simply a continuation 
of Western dominance, an at- 
tempt to impose JudeoChris- 

tittn and FjiligKtiMwwnt prin- 
ciples on foe rest of foe wodd, 
which had to learn about them 
thmngh colonialism. These 
people reject foe claim of uni- 


versality. They suspect it is just 
another power play, a way of 
still keeping them down. 

And yet there is a palpable 
yearning, especially among foe 
young, for some kind of uni- 
tying vision, a set of acknow- 
ledged ideals with which to ad- 
drt^ and tame the mechanics of 
greed, of selfishness, of loss of 
community, which seem to be 
taking over foe world. 

If globalization cannot be sat- 
isfactorily resisted — and it can- 
not, despite desperate attempts 
that go as far as the atrocious 
rule of foe Taleban in Afghan- 
istan — there needs to be a way. 
to manage it and to help people 
adapt with hope and dignity. 

This mounting debate about 
foe need for a global ethic is an 
admis sion foat something is 
missing. The ecological move- 
ment itself reflects a recogni- 
tion that since this globe is fi- 
nite, means must be found for 
everybody to share in the re-, 
sponsibility for protecting its 
capacity to sustain oar life. 

But foe more I hear of foe 
arguments about’ what foe new 
co mmandmen ts for h uman be- 


havior must be, the more con- 
vinced I am that there is a futile 
hubris in demanding that defin- 
itive solutions be found, even in 
principle, since foe world is not 
going to be fixed overnight. 

There is no ultimate solution 
to foe tensions between the in- 
dividual and the community, 
freedom and responsibility, foe 
weight of the past and the need 
of foe future. If there is one 
thing we ought to have learned 
by now, it is that anyone who 
has the final answer is guar- 
anteed to be wrong, and prob- 
ably disastrously. 

These are issues that require 
balance, and the appropriate bal- 
ance itself will shift: with chan- 
ging times, place, circumstance. 
What can and should be sought 
is an ethical code for constantly 
improving and adjusting that 
balance, making change that is 
inevitable less a cause of suf- 
fering, more a reason for hope. 

Proclaiming common re- 
sponsibility alongside common 
rights is, I t hink, a good idea. It 
is an aspiration for striving, not 
for settling once and for all. 

Flora Lewis. 




Time for America to Reach a Nuclear Deal With India 


W ASHINGTON — The ci- 
vilian nuclear power 
agreement reached in October 
between foe United States and 
China should serve as a model 
for a similar accord to defuse 
growing tensions between the 
United States and India over nu- 
clear aims control issues. 

Bill Clinton is expected to go 
to New Delhi in February, for 
the first visit by a U.S. president 
since Jimmy Carter’s in 1978. 
Indian leaders will undoubtedly, 
ask him why China, a nuclear 
weapons power with a record of 
exporting nuclear and missile 
technology, should be able to 
buy U.S. nuclear technology 
denied to India, a country that 
does not deploy nuclear 


By Selig S. Harrison 


nuclear or missile technology. 


India and Pakistan have both 
demonstrated an ability to make 
nuclear weapons. Until two 
years ago, foe United States re- 
peatedly pressed New Delhi 
and Islamabad to give up their 
nuclear option. But in January. 
1995, then Defense Secretary 
William Perry announced an 
important reversal of policy. 

Mr. Perry acknowledged that 
“foe nuclear capabilities of In- 
dia and Pakistan flow from a 
dynamic that we are unlikely to 
be able to influence in the near 
term.” He continued- “Rather 
than seeking to rollback (which 
we have concluded is unattain- 
able in these two countries) we 
have decided instead to seek to 
cap their nuclear capabilities.” 


The Message to Iraq 

By Bill Richardson 

The writer is US. ambassador to the United Nations. 

U NITED NATIONS, New York — The unconditional 
return of foe full team of UN weapons inspectors to Iraq 
is an important achievement not only for foe United States bat 
for the international community, a community united in its 
resolve to block the threat posed by Saddam Hussein. 

As a result of determined diplomacy backed by formidable 
forces, foe inspectors can resume their vital mission to find, 
destroy and prevent Iraq from rebuilding nuclear, chemical 
and biological weapons and the missiles that carry them. 
They mast be permitted to do so unimpeded. 

Some assessments can be made clearly now that the crisis 
has abated and the inspectors have returned. 

. Diplomacy backed try force works. President Bill Clinton 
sought a peaceful solution of Ibis crisis so long as foat solution 
was consistent with America’s fundamental interests, while 
taking foe steps necessary to ensure our ability to pursue other 
options. That combination — diplomacy backed by force — 
has a powerful ability to concentrate an adversary’s mind, as 
we have seen in Haiti and Bosnia. 

The president’s deployment of military might to foe region, 
including aircraft carriers and land-based aircraft, was foe 
steel in the sword of diplomacy. 

The international community has awakened to the threat 
posed by Iraq's weapons-of-mass-destruction program. For 
six years the dedicated professionals of the UN Special 
Commission worked effectively, but out of the limelight, to 
prevent Iraq from developing the most terrible weapons 
known to humanity. In jusL two weeks Saddam’s defiance — 
and oar determination foat he not succeed — awakened foe 
world to their vital mission. As a result, there is greater 
consensus than before this showdown to give the special 
commission foe tools and authority to do its job. 

The five permanent members of foe Security Council 
agreed in Geneva that the special commission should seek 
ways to pursue its mission more effectively, and foe United 
States made sure that any changes in the way foe commission 
operates would be subject to approval by foe Security Council 
— where foe United States has a veto. 

To the extent that Saddam used foe inspectors’ two-week 
absence to hide weapons, he has only delayed any possibility 
of lifting sanctions.' 

This comment has been adapted from a longer article in 
The Washington Post. 


Despite foat pronouncement, 
America has foiled to give India 
and Pakistan concrete incentives 
to cap rheir nuclear weapons po- 
tential at present Ievels- 

The agreement with China 
has made it urgent for foe Clin- 
ton administration to explore a 
nuclear bargain with India in 
which New Delhi would make 
comparable nonproliferation 
and arms control concessions in 
return for access to U .S . civilian 
nuclear technology and U.S. co- 
operation in nuclear safety. 

Until an accommodation is 
reached with India, no agree- 
ment with Pakistan is posable. 

Id foe first stage of a realistic 
new approach to nuclear diplo- 
macy in South Asia, foe ad- 
ministration should offer to 
seek congressional approval for 
civilian nuclear technology 
transfers to India, now barred 
by foe 1978 Nuclear Nonpro- 
liferation Act, in return for three 
major concessions by India. 

India would agree to extend 
the application of international 
safeguards, now limited to one 
U.S. -supplied reactor near . 
Bombay, to all seven of its ci- 
vilian nuclear power reactors 
and any new power and medical 
research reactors supplied by 
U.S. or other foreign investors. 
This would prevent the diver- 
sion to military purposes of fis- 
sile material produced with 
U.S. cooperation. 

In accordance with Mr. 
"Perry's recognition of India as a 
nuclear-capable power, foe ar- 
rangement would not affect the 
research reactors and repro- 
cessing facilities where India’s 
militarily applicable nuclear 
stockpile is produced. These fa- 
cilities would remain exempt 
from inspections. 

Second, India would make 
some form of binding de jure 
commitment not to export nu- 
clear technology, fo rmalizing i ts 
present de facto policy. This 
wouldplace India in accord with 
a key provision of the nonpro- 
liferation treaty. New Delhi has 
hitherto been firm in its refusal 
to export nuclear or missile 
know-how, taming down multi- 
bfflioa-dollar requests for nucle- 
ar purchases from Moammar 
Gadhafi and Saddam Hussein. 

Third, India would have to 
compromise with foe United 
States on the issue of a nuclear 
test ban. New Delhi has refused 
to sign foe test ban treaty, in- 
sisting that irbe linked with a 
timetable for reduction of their 
nuclear weapons by the existing 
nuclear powers. 

But India might agree to stop 
testing withou t formally signing 
foe treaty, either immediately or 


after conducting one or more 
final tests, as China did before 
agreeing to sign the test ban. 

The Indian government 
could make a declaration, en- 
dorsed by Parliament, citing foe 
key provisions of foe treaty and 
explicitly pledging that India 
would comply with these pro- 
visions. Tins could take foe 
form of a unilateral declaration 
or an undertaking to the United 
Nations or foe United States. 

Such an agreement would set 
foe stage for broader negoti- 
ations in which Washington 
would seek commitments by In- 
dia and Pakistan to cap foe fur- 
ther accumulation of weapons- 
grade fissile material and to 
continue re fraining from the de- 
ployment of nuclear weapons. 

This would be a realistic pos- 
sibility only if foe United States 
and Russia moved more rapidly 
to reduce their nuclear weapons 
as foe prelude to multilateral re- 
ductions embracing China, Bri- 
tain and France. In the absence 
of such movement, neither India 
nor Pakistan is likely to sign the 
stalemated fissile material cut- 
off agreement now being ne- 
gotiated in Geneva. 

The United States would 
benefit both politically and eco- 
nomically from such a bargain. 
Politically, apart from foe over- 
all benefits of improved rela- 
tions with a rising power with 
nearly a billion people, America 
would acquire significant influ- 
ence in one of the most sensitive 
sectors of foe In dian economy. 

Economically, it is in foe 


American interest to facilitate 
a diversification of energy 
sources in India and China 
alike, thus curbing a reliance on 
petroleum imports that will in- 
creasingly delete world sup- 
plies and drive prices up. 

With its energy needs bur- 
geoning, India wants to offset ' 
its dependence on pettoleumw 
and coal with a big expansion of 
its nuclear power capacity. Im- 
ports of nuclear reactors from 
Russia are under discussion. In- 
dian officials are signaling foat 
imports from foe United States 
and other foreign sources would 
be welcome, and that foil for- 
eign ownership of nuclear 
plants would be permitted. In- 
dia could absorb up to $50 bil- 
lion in investments by foreign 
nuclear technology suppliers 
during the decades ahead. 

The Clinton visit will come at 
a hopeful moment when India’s 
economic growth rate is aver- =. 
aging 7 percent, American in- JL i 
vestment commitments exceed ▼ . 
$8 billion, and cultural links be- 
tween the world’s two largest 
democracies are growing. 

But in foe absence of a nu- 
clear bargain, tensions over 
nonproliferation are likely to 
poison all aspects of Indian- 
American relations. 

The writer, a senior scholar 
at the Woodrow Wilson Inter- 
national Center and author of 
four books on South Asia ana - 
U.S. relations with it. contrib- 
uted this comment to the In- 
• ternational Herald Tribune. 


tais IN OUR PAGES: 100, 75 AND 50 YEARS ACO 

nuclear 


1897: German Troops 

BERLIN — The Norddeutsche 
Allgemeine Zeitung announces 
officially foat 1,200 men of foe 
marine infantry and 200 gun- 
nera will shortly leave for 
China. Germany’s forces there 
next, number 
4,600. The Government contin- 
ues to maintain absolute silence 
regarding its intentions and 
fois despatch of reinforcements 
But there, can be no doubt that 
this silence is intended to 
prevent a Chinese attackvbefore 
foe arrival of the ship Kaiserin 
Augusta in January. 

1922: Lusi tania Case 
NHW YORK ^ The Cunardcr 

Uisitama sailing from this port 
on May I, 1915, carried no 
guns, soldiers or explosives 
wfoun foe meaning of foe law. 
and could not have been blown 
up by any explosives she ear- 
ned. according to a report made 


by Mr. Dudley Field Malone, 
then Collector of foe Port of 
New York. He explains that 
foe report is now made public 
as a result of repeated de- 
mands from sources here nnd 
abroad, especially from the 
Committee to Establish the 
Causes of the War. 

1947: European Union 

NEW YORK — William C. 
Bullitt, former American Am- 
bassador to France and the So- 
viet Union, urged a European 
customs union and eventually a 
political union of the free 
peoples of Europe to prevent 
Soviet domination, of foe Con- 
tinent. Addressing a dinner of 
foe English-speaking Union in 
foe United States, Mr. BuliiU 
said that unless the American 
government can persuade the ^ 
governments of western Europe 
to create a democratic feder- 
anon, all Europe will be united 
under Soviet tyranny. 


i 




nr 


PAGE 13 . 



i 


pi 


m 


Reno Takes the High Road: It’s Uphill From Now On 


W ASHINGTON — If Attorney Gen- 
ir T.T®" Reno had called for an 
““'Patent counsel to investigate Pres- 
Jjenl BUI Clinton and Vice President A1 
’-jore for the 1996 campaign abuses, 
™e could have washed her hands of 

the whole mess. 

kstanfly, she would have put herself 
same page as FBI Director Louis 
rra* and won loud plaudits from Re- 
publicans in Congress as an independent- 
“““kd hero. And President Clinton 
couldn t have touched her. 

She did things differently. In the long 
run the political and legal systems are 
■ better off for it. 

"Hris is not the end of the investigation of 
President Clinton, though it does take much 
pressure off Mr. Gore. “Any decision not 
to ask for an independent counsel does not 
™ean that a person has been exonerated," 
she said, “or that the work of the campaign 
finance task force has ended.'* 

This decision was sealed weeks ago 
when Ms. Reno decided to focus on 
whether fund-raising phone calls made 
from the White' House violated a 100- 
year-old law. There was no precedent for 
such prosecutions. 

Republicans quickly attacked her for 
the narrowness of her rating- But as Sen- 
ator Carl Levin, Democrat of Michigan, 


By £. J. Dionne Jr. 


noted, some of die same Republicans had 
once insisted that die phone calls were not 
a narrow issue but a big deal that needed 
investigating, which Ms. Reno did. 
‘They’re shifting the goal posts just to 
keep the pot boiling," Mr. Levin said. 

Unfortunately for die Democrats, 
there's more to the story. 

Mr. Clinton's 1995-96 ad campaign, 
paid for with unregulated "soft money,” 
has come under legitimate attack, and hot 
just from Republicans. The ads certainly 
violated the spiritof the reform laws passed 
after Watergate, which provide taxpayer 
money to presidential candidates who 
agree to limit their spending. A strong case 
can be made that Mr. Clinton's involve- 
ment in planning the ad campaign violated 
the letter of the Taw, too. Common Cause, 
the reform group that could never be con- 
fused for a right-wing anti-Clinton outfit, 
has made that case as well as anyone. 

Mr. Clinton believes he found a 
hole in the law that let him run the 
because they focused on "issues” and 
because they never said "vote for Clin- 
ton.'’ Even if a court were to rule in Mr. 
Clinton's favor, his choice was dead 
wrong and profoundly damaging to the 


political system. By continuing to open 
loopholes, the Supreme Court does -make 
Mr. Clinton's case look stronger. None- 
theless, his reading of the law is tenden- 
tious at best 

But it’s far from clear that it’s the job of 
an independent counsel to settle such legal 
arguments. And any investigation of Mr. 
Clinton would have to look into com- 
parable Republican campaign abuses. If 
the Repubiicansreally behove what they're 
. saying about soft money, they should call 
for an independent counsel to look into 
both pities, as Common Cana* has. 

FBI Director Freeh’s break with Ms. 
Reno is a much bigger problem for Mr. 
Clinton. Democrats will get nowhere if 
they say Mr. Freeh's call for an inde- 
pendent counsel is ins way of currying 
favor with a Republican Congress. Mr. 
Freeh's sttaight-arrow reputation inocu- 
lates him against this charge. More plau- 
sibly, Mr. Freeh may believe the FBI was 
hurt by congressional criticisms of the bu- 
reau’s handling of other investigations and 
wants an outside counsel to give his agency 
immunity from criticism this time. 

Mr. Freeh also has substantive dis- 
agreements with Ms. Reno. He has a dif- 
ferent view of the case and die law. He 
thinks there may be two conspiracies, one 
within tile Clinton administration and one 


by the Chinese government to mflncncr. 
the election. The possibility of a con- 
spiracy tips him toward a counsel. And he 
worries mat Ms. Reno's Justice. Depart- 
ment has an inherent conflict of interest 
investigating the president. 

Mr. Freeh’s view 

But Ms. Reno’s decision leaves time 
tin* Hit j udgmen t is that sticking another 
independent counsel on the president is a 
decision not to be taken lightly — or in 
response to pressure. She’s right, espe- 
cially given die performance of recent 
counsels and the. KcpnbBcan leanings of 
the judicial panel that would select this one. 
Justice is not dissaved by her insistence 
that the case needs to develop further. 

In the meantime, Mr. Freeh and Ms. 
Reno should air their grounds for dis- 
agreement as publicly as they can. It’s too 
late, with all tbs leaks, to say tins is an 

fafwrmil' milter 

This dreary mess leaves the campaign 
laws in tatters. That, in large part, is Mr. 
Clinton’s fault. The inctependent counsel 
statute is mare hopelessly mired in par- 
tisan, politics than ever, the Republicans 
have much to do with that. So much for the 
Wateigate reforms. Ms. Reno keeps trying 
to preserve a precarious balance. Don’t 
envy her. It will only get harder. 

Washington Post Writers Croup. 



And Dirty Laundry 

By Margaret Webb Pressler 


t 


LETTERS TO THE EDITOR 


. Scientologists Respond 

On Dec. 2, the EHT Tan an ar- 
ticle concerning the tragic death 
- of the Scientologist lisa Mc- 
' Pherson (" Police Studying a Life 

* and Death in Scientology") that 
had appeared on the front page 

1 of The New York Times the 
; day before. 

1 The article was a biased dis- 
r fortran of the facts that used the 
tragedy of Ms. McPherson’s 
death to present a misleading pic- 
ture of die activities of the church 
4 and its members in the city of 
Clearwater, Florida. 

The church and its members 
: have been an active part of the 
g * local community for many 
. years and have continued to be 

* involved with a variety of bet- 

* terment projects. 

Members of the church recently 
formed a citizens’ association to 
' undertake projects to improve and 

* beautify the downtown area. 

, Working with the support of 
' city officials and the business 
community, church volunteers 
spent several weeks trimming 
trees and decorating buildings in 


white lights. Others wrapped the 
city’s light poles in red candy 
stripes. That effort has been sup- 
ported by Mayor Rita Garvey, 
City Commissioners Karen Seel 
and Bob' Clark and City Manager 
Michael Roberto. 

This community betterment 
organization is supported by 
more than 100 local business 
persons and is based on revital- 
ization projects that have been 
successful in other parts of .the 
state. Volunteers have already 
raised more than $16,000 in sup- 
port of projects to improve me 
city. 

During the Christmas season, 
the church sponsors activities 
that provide food, clothing and 
toys to those less fortunate. These 
are the prog rams that T.isa was 
directly involved with when she 
was alive. 

Fra: the past nine years, the 
church has hosted 4,500 foster 
children and their parents at the 
church's Fort Harrison retreat 
Sponsored by the church's 
Community Auxiliary, the foster 
children's party allows foster 
children to visit with brothers and 


sisters who live in other foster 
homes. Fra: many, it is the only 
time of the year they are able to 
see their siblings. 

This community effort also in- 
volves nearly 100 individuals and 
dozens of businesses, which 
donate money, goods and ser- 
vices. Local corporate sponsors 
include McDonald's, AMC Pub- 
lishing and Nationwide Tide. 
Others have contributed by donat- 
ing canned goods or providing 
them at discount prices. 

Such assistance, combined 
with financial support from 
many individuals and the dedi- 
cated help of volunteers from 
throughout the community, has 
made the foster children’s Christ- 
mas an annual success. 

The church's annual Winter 
Wonderland is the single 
holiday event in Clearwater, 
special gift to the city of Clear- 
water, which includes a variety of 
special holiday events and activ- 
ities for local families, is made 
possible through the efforts of die 
church and its parishioners, work- 
ing in conjunction with local busi- 
ness and community leaders. . 


That is the real story of the 
church's relationship with the city 
and one that the media refuse to 
print. Rather, they chose to distort 
the events surrounding I « 
McPherson’s tragic death in an 
effort to blacken the image of 
those who, like Lisa, are working 
to improve their lives and their 
communities. 

HEBER JENTZSCBL 
Los Angeles. 

The writer is president af the 
Church of Scientology Interna- 
tional. . 

Although I have seen many and 
various types of media coverage 
about my religion, in all my years 
with the Church of Scientology I 
have never before seen a local 
Florida story that is two years old 
be written about in an interna- 
tional newspaper. 

hi addition, nnthing new 
was (nought to light in the article. 
The writer only continues to 
abuse the passing of a church 
parishioner in foe most un- 
seemly and indecent way I have 
ever witnessed. 


. One death did not cause con- 
troversy. Twisted reports of this 
nature try to do just that. 

• It is die writer who is a willing 
puppet in foe hands of foe only 
two perpetrators of "contro- 
versy’' against foe church on 
this issue, the Clearwater police 
and foe German government 
— who have a stake in foment- 
ing negative media coverage 
so as to justify their continued 
campaign of bigoted harassment 
and abuse of our church and 
its membership. 

I have never before serai a re- 
ligion tried in foe press as a result 
of foe death of one of its pa- 
rishioners. 

PAT JONES. ' 

Clearwater, Florida. 


Letters intended for publication 
should be addressed “ Letters to 
the Editor " and contain the 
writer's signature, name and full 
address. Letters should be brief 
and are subject to editing. We can- 
not be responsible for the return of 
unsolicited manuscripts. 


ASHINGTON — . Some 
people bring home strays. 
My mother brings home (Kphaifc 

- By onphans,- I don’t mem 
young, parentless children whom 
my mother raises as her own; I 
mean full-grown adults, groups of 
adults or even families. The 
'people my mother collects are 

MEANWHILE 

' ri rrairngta fl rigj ■n qihftns — they are 
new in town, their accommoda- 
tions fell through, a spouse is : 
away, or some other such situ- 
ation foax leaves them in need of, 
well, a mother. 

- Many of these orpbansBrexneav 

which says something' about the 
charm my Southern^biral inotheF 
possesses. They' range 'from 
handyman types to visit* 
lomats; you just never 
who’s gomg to be under her hos- 
pitable wing at any given time. 

Some of these orphans become . 
longtime friends, but many enter 
and leave my mother's life with 
the. arrival and passage of some 
crisis. They depart and she won- 
ders about them for years. But 
some go on to do great things that' 
she later hears about 

Like Tony. 

Just how Tony Blair came to be 
one of my mother’s orphans is a 
story that involves the future Brit- 
ish prime minist er doing his fam- 

roran^aevelSl When 
Mr. Blair was elected in a land- 
slide last storing and my mother 
recounted her history with him, 
about which I had known nothing, 
1 almost didn’t believe iL Then 
again, this was my. mother. 

- Now every time I see Mr. Blair 
in the news — mo timing Diana, 
negotiating peace — I think about 
his dirty laundry, which is dif- 
ferent front that of most politi-; 
cians. It also reminds me how 
much is lost when we close' 
ourselves- to chance encounters, 
avoiding or fearing stray humans 
■instead of embracing them. Why . 
complicate our lives? Because, to 
my mother’s way of. thinking , 
that’s part of why we’re here. 

My mother picks up many of 
foesepeople through her activities 
as a real estate agent This part of 
her life was immortalized recently 
in a book written by Beppe 
Severgnini, an Italian jo urnalist 
who came with Ms wife to Wash- 


ington for a year and foil underlay 
mother’s care from almost Ms first 
day here; Hewent home and wrote 
“Un Italiano in America," in 
which' he ck&ailed several of his 
dealings with my “sweetly au- 
thoritative" mother. 

“L’agedte-mamma,” he calls 
her. 

Anyway, back to Tony Blair. : 

. Ten years ago or so, Mr. Blair 
was a member of Pa ri i atp cnf and 
canto to Washington on his way to 
West Virginia to tour coal mines. 
The trip was ar^urized by foe 
AFL-GLO, winch housed Mr. 
Blair, his wife, Ms two young chil- 
dren and a nanny in a Washington 

hotel But the famil y wanted to find 
someplace a little mare relaxed to 
stay on this Labor Day weekend, 

'. so my mother' got a call from a- 
friend who organizes tours, who 
wanted to know if she could find 
the visitors an apartment for foe 
weekend. My -mother duly found 
them a flat on Capitol Hill, picked 
them up and drove them there. 

- It being Labor Day, she also 
invited the Blairs over for a bar- 
becue. This being America, sh e 
also suggested they bring their 
laundry. They were undoubtedly 
too shocked to turn her down. 

When foe Blairs showed up for 
dinner, bags of laundry in tow, 
Tony Blair and my mother got to 
work loading foe washer. “Ut- 
terly. down to earth" is how she 
described him. 

After dinner, my mother insisted 
that foe Blairs borrow my parents’ 
enormous green Ford that, to a 
Brit, must’ve looted like a tank. 
This way, my mother explained, 
they could make their own sched- 
ule in West Virginia and have a 
look, perhaps, at Skyline Drive. 

Days later foe Blairs returned, 
dropped off the car, thanked my 
mother profusely and made their 
way bade home. “Come to Eng- 
land!" they said. “We’U give you 
a tour of Parliament! " 

But foe way these things often 
work out, you don't take people 
up pa their offers. My mother 
moved on. and like many men 
before him, Tony Blair became 
just' another in a long list of 
orphans I never even knew my 
mother had. Until one day he got 
famous, and I got to teQ foe tale. 

Margaret Webb Pressler is a 
. Washington Post staff writer. This 
article is from The Post. 


BOOKS 


» 1 

Vi 




.{ 


TWENTIETH CENTURY’S FOX.* 
Darryl F. Zanuck and the Culture 
of Hollywood 

By George F. Custen. 435 pages. $27 JO. 
Basic Books. 

Reviewed by Robert Sklar 

I N foe dog days of August 1941 , a few 
months before Pearl Harbor, two iso- 
lationist senators accused Hollywood of 
making propaganda movies advocating 
U.S. intervention in foe European war. 
Foreigners ran the movie studios, they 
charged, and were pursuing their own 
interests rather than foe nation's. 

Called to testify before foe Senate 
Interstate Commerce Committee, several 
movie moguls, indeed foreign-bom, had 
a hard time defending themselves. Then 
came. Darryl F. Zanuck, head of pro- 
duction at 20th Century-Fox. Birthplace? 
Wahoo, Nebraska. Background? The 
Methodist church. Hollywood was doing 
a top-notch job of selling the American 
way of life, he proclaimed. After Zanuck 
spoke, foe isolationists found nothing 
more to say about foe movies. 

This episode doesn't make it into 
George F. Custen’s new biography of the 
producer. Although a telling footnote in 
foe nation's history, it’s clearly incidental 
to foe author's purpose of rehabilitating 
the reputation of a Hollywood figure 
whose greatness be regaids as insuffi- 
ciently appreciated. Custen’s admiration 
for Zanuck is refreshing. It not only vi- 
olates foe rules of present-day biography, 
wMch require that foe mighty be brought 
down a few pegs. It also flies in foe face 
of popular Hollywood history. 

In the standard version (much like foe 
isolationist senators'), uncouth, un- 
educated Eastern European Jews oper- 
ated the movie studios, with one ex- 
ception — the uncouth, uneducated 
Midwestern Protestant, Zanuck. A 
slightly more elevated account credits 
Zanuck as a crass also-ran among the 


boy-wonder producers of Hollywood’s 
1930s golden age, trailing behind the 
ethereal genius Irving Thai berg and the 
brilliant dynamo David O. Selznick. 

If you’re looking for schooling and 
manners, Custen implies, don’t cast your 
eyes on Hollywood. He's more inter- 
ested in foe Inrid, pulp-fictional world of 
urban mass culture that, in his view, lay 
at foe heart of Zanuck’s movie-making 
knack. 

• How did a Nebraska boy connect with 
urban mass culture? Well, for one thing, 
Zanuck (1902-79) didn't stay long m 
Wahoo. From age 7 he spent most of his 
youth in Glendale, California, hard by 
Hollywood. Not yet 15, he lied about Ms 
age to enlist in foe army and managed to 
get shipped overseas during World War 
L A teenage veteran, he began writing 
promotional copy and sensationalists 
fiction, mostly self-published. This back- 
ground landed him in foe Warner Bros, 
story department, where he furiously 
scripted scenarios under multiple pseud- 
onyms. He turned Rin Tin Tin into a star 
and in foe late 1920s, still a twenty- 
something, was appointed executive in 
charge of production. 

Zanuck helped carry Warner Bros, 
into foe sound era and through foe first 
dark years of foe Great Depression. His 
metier was foe story conference. Ana- 
lyzing a script with its writers, he would 
dramatically act out scenes while 
sharpening foe plot line, punching up 
character traits, highlighting foe audi- 
ence's "rooting interest,” as a steno- 
grapher took down every word for foe 
file. 

Later, as head of Fox, he built a stable 
of trusted subordinates, including 
writers Lamar Trotti, Nunnally Johnson 
and Philip Dunne, and director John 
Ford, who were responsible for foe clas- 
sics "Young Mr. Lincoln” (1939), 
“The Grapes of Wrath” (1940), and 
Zan lick's first Academy Award best pic- 
ture. "How Green Was My Valley" 


(1941). Zanuck's reputation began to 
slip in foe 1950s as foe studio system 
crumbled before television’s onslaught 
In 1956 he abruptly quit foe Fox helm, 
left his wife, moved to Europe, and took 
up with starlets. There was one more 
stint as Fox president, with his son 
Richard as production head, during foe 
disastrous (for foe movie industry) 
1960s. In “his last years he became a 
living relic of a vanishing breed, foe 
moguls, whom a later era had come to 
view as cigar-chomping, egomaniacal 
buffoons. 

How does one mate the case for a 
mogul’s greatness? One of Custen’s 
strategies is to emphasize foe wider cul- 
tural significance of die producer’s out- 
put He credits Zanuck with shaping foe 
famous Warner Bros, gangster films of 
foe early 1930s. then shifting at Fox later 
In the decade to historical and nostalgia 
themes — both styles, he suggests, em- 
blematic. indeed formative, of larger 
trends. 


A NOTHER, even more insistent, ap- 
proach is to claim Zannck as the 
major creative figure on foe important 
works with which he was associated. No 
doubt moguls deserve more respect than 
they’ve been granted, but Zanuck's 
skiffs were as an administrator and or- 
chestralor, in exhortation and critique, 
not as the primary artistic talent 
Custen, a professor at foe College of 
Staten Island, City University of New 
York, and author of a previous study of 
Hollywood’s Wopic genre, has written a 
thoughtful and readable book which, 
nevertheless, seems anachronistic in its 
insistence on a great man theory of 
movie history. 

Robert Sklar, who teaches film studies 
at New York University and is author of 
"Movie-Made America : A Cultural His- 
tory of American Movies," wrote this for 
The Washington Post. 


BRIDGE 


By Alan Truscoti 

B RIDGE players from foe 
Chicago area seemed 
poised to win the Reisinger 
Board-a- Match Team Cham- 
pionship. 

The scores at the start of foe 
final two sessions were: first, 
Bart Bramley, Howard Wein- 
stein, both of CMcago, Steve 
Gamer ofNorthfield, Illinois, 
and Sidney Lazard of New 
Orleans, with 37.91 boards; 
second, Steve Zolotow, Har- 
old Lilie and Marc Jacobus, 
all of Las Vegas, Nevada. 
35.48; Ron Smith of San 
Francisco, and Bob Crossley 
of Greenbrae. California. 
35.48; third, Tom Fox of 
Glenview, Illinois, Walter 
Schafer Jr. of Bloomingdale, 
Illinois, John Sumerlin 


of Dallas and Russell Ekeblad 
of Providence, 34.19. 

Leading in foe North Amer- 
ican Swiss Team Champion- 
ship, with 132 victory points, 
were Jock Coleman, of San 
Francisco: Matt Gxanovener 
of Israel; Mark Molson of C3te 
Sl Luc, Quebec; Boris' Baran 
of Montreal; Drew Canned of 
Winnipeg, Manitoba, and 
Mark Stein of Ottawa. Second, 
with 1133. was a Midwest 
headed by Jeff Schuett 
r Riverwoods, Illinois. 

Also in contention in foe 
North American Swiss was a 
group that included Alan 
Son tag of Manhattan. Jeanne 
Rahmey of Brooklyn and 
Norman Kurlander of Flush- 
ing, New York. Sontag’s play 
on the diagramed deal helped 
his team snatch one of foe last 
qualifying positions for foe 


final. As South, he opened 
one spade and • persevered 
with four spades over West's 
four-heart overcalL 

West led two top hearts, 
and Son tag made foe key play 
of discarding a dub. Now he 
could not be prevented from 
driving out the spade ace. 
drawing trump and making 
his game. If he had routinely 
ruffed foe second heart lead. 
West would have been able to 
duck one round, win the 
second and play a dub. South 
would then nave had no way 
to prevent a diamond raff. 

His play at the second trick 
had cut foe defender's line of 
communication in the clnb 
suit and guarded against a re- 
mote danger a 5-0 West was 
left to discover that an inspired 
underlead of his heart honors, 
setting up a diamond niff, 


would have beaten the game. 

In foe replay. East- West 
played five hearts doubled, 
wMch could not be defeated. 
Sontag’s team gained 16 
imps. 

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PAGE 14 


Thursday’s 4 P.M. Close 

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GLUMLY, SHE STARED 

AT HER REFLECTION IN THE SOUP SPOON 
AND FELT LONELIER THAN A GOLDFISH. 

Once again their annual wedding anniversary pilgrimage to Scotland 
had been cancelled at the last minute. Last year Roger bad jetted 
off to Taiwan on business. Full of apologies and promises that next 
year would be different. Now it was Singapore. Admittedly he'd 
brought her along this time. And even taken a suite in the magnificent 
Raffles Hotel. (After telling her they- were headed for the YMCA, 
the rogue.) But still. For him to be called away like this just as they 
were sitting down to dinner was just too much. She wished she'd 
never come. Her sullen thoughts were interrupted by a waiter asking 
• if there was anything wrong with her untouched glass of champagne? 
She turned and found the „ — ni , fellow grinning at her with 
the sort of impudent expression her husband 

often employed. Which . I 1 was hardly surprising. 

For indeed it was her husband, squeezed into 

the sommelier's uniform. The hotel administration 

had been more than happy to indulge the unusual request when the 
gentleman approached them earlier in the day. As for the lady, 
gallantry forbids quotation of the phrase she uttered at this point. 

A RAFFLES INTERNATIONAL HOTEL 
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IKTEKHATHmALfSp • 


BUSINESS/FINANCE 


FRIDAY, DECEMBER 5, 1997 


PAGE 15 



■ The 'Winter Pair 


Share prices in dollars. 

Microsoft 

160 [ 




TTlTJiT 


m il I I I 1 I m i i i i i i m i i n i i i I i i i i i i m I i i I ii oo 
Dec. June Dec. Dec. June Dec. 

1996 1997 1997 1996 1997 1997 JhS^qSj 

Source: Btoontfwg Intmuinml Herald Tabune •* 

Bill Gates, left, founder of Microsoft, and Andrew Grove, managing director of Intel. There are signs of strain in the companies’ partnership. 

New Design May Weaken Intel-Microsoft Link 


1 By Elizab eth Corcoran 

I Washington Post Service 

l SAN FRANCISCO — Some cracks 
ate beginning to show in the longtime 
partnership between the high-tech ti- 
tans Intel Corp. and Microsoft Corp. 

! Intel, which mak es about 85 percent 
of the computer chips used inside new 
personal computers, said Wednesday 
thak it was creating a design for a new, 
lowtcost alternative to the PC. 

Tme announcement marks a turn- 
around for Intel, whose executives 
were dismissing such machines as a 
fad a year ago. 

Intel will not finish its blueprints 
until fcebraary or March, but the com- 
pany! has made it clear that it will- 
support a range of software operating 
systems, not just those made by Mi- 

Than signals a potential breach in 
what isf known as the “Winiel” al- 
liance of Microsoft's Windows op- 
erating system and Intel’s chips. 


Over the past decade, the Intel and 

personal cor^uter'tfie do minan t fea- 
ture of the information age. 

Although it has had some fractious 
moments, that relationship has proven 
enormously lucrative for both compa- 
nies. 

But the era of a single, dominant 
device is fading, analysts and tech- 
nology specialists say. A smorgasbord 
of devices, ranging from inexpensive 
handheld machines to “network com- 
puters” to digital televisions, is on the 
horizon. And Intel and Microsoft ap- 
pear to be headed in different direc- 
tions in their efforts to exploit these 
technologies. 

For instance, Intel and Microsoft are 
working on competing designs for set- 
top boxes that will help televisions 
cany digital information from the In- 
ternet as well as more f amiliar pro- 
grams. And Microsoft is working with 
a half-dozen chipmakers other than 
Intel on small, hand-held devices that 


would use its new operating system, 
“Windows CE.” 

Wednesday’s announcement shows 
Intel is willing to work with companies 
other than Microsoft to make sure its 
chips are used in a wide variety of 
corporate computing boxes. 

Intel’s “lean client” 85 ft calls the 
new low-cost computer, will very 
likely resemble the network com- 
puters championed by industry leaders 
such as Larry Ellison, who heads Or- 
acle Corp., and Scott McNealy, who 
runs Sun Microsystems Inc. All such 
machines promise to be easier to use 
and cheaper to maintain than conven- 
tional PCs. 

That is because they will put sim- 
pler, less powerful computing gear on 
users' desks and connect those boxes 
to powerful “servers” via electronic 
networks. 

Intel’s design has two parts: the 
“client” die gear used by an indi- 
vidual, and the “server,’ ’ the powerful 
computing engine managed by pro- 


fessionals in the back office. 

Intel would like to see its chips used 
at both ends — say, putting conven- 
tional Pentium processors in the cli- 
ents and higher-end Pentium H or Pen- 
tium Pro processors in servers. 

Although Intel chips are used in 
low-end servers, higher-end systems 
“just happens to be a S250 billion 
marketplace that we don't play in 
today,” said Patrick Gels in gar, vice 
president and general manager of In- 
tel’s business platform group. “We 
like those numbers.” 

The Intel blueprints will essentially 
be a recipe for a family of systems that 
start at $500 and go up. 

Software companies that have been 
working with Intel on the design in- 
clude Citrix Systems Inc., International 
Business Machines Crap., Microsoft, 
Network Computing Inc., Novell Inc. 
- and Santa Cruz Operation Inc. 

Art Olbert, IBM’s vice president of 

See INTEL, Page 22 


Microsoft Wbrkers:Just Your Average Millionaires 


By Allan Sloan 

Washington Post Service 

N EW YORK— When ft came 
to celebrating Thanksgiving 
in America last month, Mi- 
crosoft Corp.'s employees 
were among those with the most to be 
grateful for. Microsoft employees’ pa- 
per profits on their stock options are 
averaging more than $1 million per 
person, thanks to the stock’s 80 per- 
cent rise in the past year. 

Millionaires aren't exactly rare in 
high-tech land. Bur this has to be the 
first time employees have averaged 
more than $1 million in option profits 
at a company die size of Microsoft — 
which has about 24,000 staff mem- 


bers, about 21,000 of whom have op- give holders the rig 
tions. And it's not Bill Gates' zillions fixed price during ; 
making the average artificially high, company says thi 
Chairman Bill and his second-in-com- weighted average ; 
maud, Steven Ballmer, already own so share. So, to figure 
much stock ($38 billion and $8.5 bil- the options, take Mi 
lion, respectively, according to CD A/ (the price on Than] 


give holders the right to boy stock at a 
fixed price during a fixed period. The 
company says that option holders’ 
weighted average price was $41.89 a 
share. So, to figure the paper profits on 
the options, take Microsoft's stock price 
(the price on Thanksgiving Day. Nov. 


WALL STREET WATCH COMMENTARY 


Investnet, which tracks insider stock- 
holdings) chat giving diem options 
would verge on the obscene. So they 
are among the optionless. 

It’s hard to believe that employees in 
a big company can average $1 million 
of option profits, but here’s the math: 

Microsoft had 259 million options 
outstanding as of SepL 30. The options 


27, of $141.5625 was used for cal- 
culation purposes for this article), sub- 
tract the $4 1 .89 exercise price and mul- 
tiply that difference by 259 million. 


ployees: about $1.1 million each. 

Admittedly, the Sept. ’ 30 . option 
numbers had rhpngeri by Thanksgiv- 


ing, and many of the options cannot be 
exercised for years; and this calculation 
does not include income taxes an op- 
tion profits. But the feet that Microsoft 
is creating so much wealth and spread- 
ing it so widely is far more impressive 
than Mr. Gates's megafortune. 

The problem is drat even Mi- 
crosoft’s $10 billion or so of cash does 
not begin to cover its whole obligation 
to option-bolding employees. “Most 
of our financial liabilities are in the 
form of our employee stock options,” 
Greg Maffei, Microsoft’s chief finan- 
cial officer, said in an interview. 

A motivated work force is Mi- 
crosoft's major asset — and there’s 

See RICH, Page 2,2 


mmii 


Strong Action Is ‘Crucial , 9 IMF Chief Says 


CrmrOedbtOvrSegFmtDtsiatha 

TOKYO — Japan’s economicplan- 
ning chief finally ackiwwlcdged Thurs- 
day that the country was no longer en- 
joying a recovery and said he would 
downgrade his economic health forecast 
following gloomy growth data. 

‘The economy has Mailed — in short 
that’s the most appropriate way lb de- 
scribe it,” said Kqji Omi, the director of 


The admission came ahead of stem 
words from Michel Camdessus. Inter- 
national Monetary Fund managing di- 
rector, that Japan needs to act on its 
faltering economy. He told Tokyo tint, it 
was “crucial” to bring in immediate 
and decisive- measures, in particular to 
revive the ailing financial sector. 

Mr. Camdessus, who came to Tokyo 
after a signing ceremony in South Kara 
for an Rind- led financing package for 
that country , said the Japanese domestic 
economy could worsen problems' in 
East Asia. South Korea is me latest in a 
string of countries to receive an in- 
ternational-financing guarantee, with a 
$57 billion -plan that includes up to $10 
billion from Japan. 

He said an economy like Japan’s that 
was growing at around 1 percent tins 
yearand around 1 percent' ror a little bit 
more” next year was not in good 
shape. 

“The importance of Japan as the 
second economic power ox the world 
makes it essential for the world to be 
sure that everything goes well for the 
Japanese economy,” Mr. Camdessus 
said. “I am quite confident that the 
conjunction of government efforts and 
those of the banking sector will make 
this crisis a short-lasting one.” . 

Japan’s financial system has been hit 
band with the collapse of four major 
financial institutions in the last month, 
including the failure of its fonrthrlargest 
brokerage, Yamaichi Securities Co. 

In addition, data released Wednesday 
showed Japan’s economy put in a dis- 
mal performance for the mat half of the 
financial year, shrinking 1.4 percent 
from the previous half. 

- Mr. Omi said that economic growth 
of 1 percent would be a difficult goal, 
but he declined to be more pessimistic. 


‘ “It will be difficult to reach growth of 
1 percent, but that does not mean it's 
going to be ultra-close to zero,” he 
said. - ; 

Over the past few months, econo-' 
mists have been cutting forecasts for 
'.growth in Japan, with many warned that 
die economy may be teetering on die 
edge ofarecession. Most predict growth 
of between zero and 1 percent for this 
business year, although some expect a 
slight shrinkage. 

Although exports remain strong, the 
domestic economy has been at best flat; 
hit by a increase in April in the national 
sales tax to 5 percent from 3 percent - 

Mr. Camdessus advised Tokyo to 
move to the early identification and’ 
closure of insolvent institutions, to use 
public funds to protect depositors and to 
endorse transparent plans to restructure 
undercapitalized banks. - 

Some Western analysts disagreed on 
the Japanese agency’s diagnosis, with 
some holding a more positive view. 

. Richard Werner, chief economist at 
Jardine. Fleming Securities, said Mr. 
Omi’s comments were political and 
should be seen in the light of a battle 
between economic reformers and re- 
actionaries: 

Reformers, including Mr. Omi's 
agency and the Bank of Japan, want to 
paint a grim view of the economy to 
provoke reforms, he said, adding that 
the more reactionary Ministry of Fi- 
nance would paint a better picture. 

Mr. Werner also said the Economic 
Planning Agency had revised upward 
the growth figures for the 1995 and 
1996 financial years, which made the 
cmreat year's figures appear decept- 
ivelypoor. 

‘Tne economy has already turned the 
comer and is clearly recovering,” be 
said, predicting strong economic 
growth of about 2 percent this' year and 
as much as 3 percent next year. 

But' Cameron Umetsu, senior econ- 
omist at UBS Securities, took a line 
similar to Mr. Omi’s agency, predicting 
growth for 1997 at just 0.4 percent. 

The growth data showed “the true 
stale of the economy,' ' he said, “with a 
confirmation of what the markets have 
already discounted.” (Reuters, AFP) 


U.S. Warns Japan on Autos 


. Bridge Nous 

WASHINGTON — The United 
States is increasingly concerned that Ja- 
pan appears to be bac ksliding on a 1995 
deal to import more foreign cars and 
auto parts, according to an adminis- 
tration repot released Thursday. 

The report, released jointly by the 
Office of the U.S. Trade Representative 
and tire Comment Department, reveals 
that U.S. car sales to Japan fell 20 per- 
cent in the first nine months of this year. 
This drop occurred even though the U.S. 
Big Three — Chrysler Corp., Ford Mo- 
tor Co., and General Motors Corp. — 
kept prices competitive despite the 
weak yen, the report said 


Since the 1995 pact, U.S. car compa- 
nies have opened only 142 new deal- 
erships in Japan, mainly, because Jap- 
anese dealers are afraid to sotir relations 
with domestic carmakers, the report said. 
Under the terms of the agreement. U.S. 
automakers hoped to open 400 new deal- 
erships in Japan by the end of this year. 

“Japan needs to make more vigorous 
efforts to ensure that the market opening 
goals of tire agreement are achieved” 
Charlene Barshefsky, tire U.S. trade 
representative, said Ms. Barshefsky 
and Commerce Secretary William Da- 
ley said they would urge Tokyo to do 
more to end regulations that stymie im- 
ports of foreign car parts. 


IMF Bailout Could Set a Bad Example 


By Louis Uchitelle 

Nr*' fort Tunes Service 

The $57 billion that has been pledged 
by the international community to South 
Korea — like the $23 billion for In- 
donesia and the $17 billion for Thailand 
before it — will go primarily to lenders 
wbo dished out huge sums for risky 
projects that failed to pay off. 

The rescue plan centers on shaky 
Korean banks. The nation’s industrial- 
ists, who borrowed billions of dollars for 
new factories and such, have nor made 
enough profit to repay their debts. 

The tranks, of course, got their money 
in part from Korean depositors. Otter 
money came from foreigners — big 
Euro Dean, American and Japanese 
banks, for example — that lent en- 
thusiastically to the Korean banks, in 
hopes of sharing in the profits. 

The bailout money, from the Inter- 


national Monetary Fund the World 
Bank and individual countries, will be 
channeled through the Korean govern- 
ment and its central bank in great mea- 
sure to the private-banking system. In 

NEWS ANALYSIS 

some cases, foreign creditors may be 
paid off directly. Mostly, the money will 
go to salvage some institutions and to 
close others while paying off creditors. 
The bailout will, in effect, repay the 
depositors and the foreign lenders. 

“We keep blaming this crisis on cor- 
ruption and bad banking practices,” 
said Jeffrey Sachs, a Harvard econo- 
mist “But this all happened in the 
private marketplace. It was so often a 
case of big foreign lenders pushing their 
money on the Koreans and the Korean 
banks enthusiastically taking it in." , 

The Asian aid packages are prompting 


many economists and investment 
bankers to argue anew that bailouts, even 
when they accomplish their immediate 


lenders whole, they merely encourage 
more careless lending and fresh crises. 

“If we practice bailing out countries 
whenever they get into trouble,” said 
Richard Cooper, an economist at Har- 
vard University, “then lenders every- 
where will come to count on that and 
they will continue to make loans they 
should not make.” 

Thar view, widely held, is producing 
numerous proposals for change. 

Mr. Cooper suggests that new reg- 
ulations should be adopted by all coun- 
tries that would cause the owners of 
banks — the shareholders — to lose 
their investments in such situations. 
That would make lenders more cau- 

See RESCUE, Page 22 




TTTTTT 


Cross Rates Due. 4 

S I DJL FF. lira &H IF. LF. TM CS talk 
Amsterdam LMS UI4 l.Oflf 0330 MIS* — UBS* inn 15427* 14B 1J0I* 

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1 SDR MS OIK MB UQ5 133.1? Z7H3 494343 1.7445 174111 1372 l* 

Chstags In Amsterdam, London, MBan, Paris and Zurich firings Jn attiercadax New York tuha 
atJPM. and Toronto ivies at 3 PM 

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Llbld-Libor Rates Dec. 4 

Swiss Frond! 

Dolor D-Maift Franc Stertbg Franc YOo ECU 

I-flKfllh S9% - 5*0 W»- TO* 1*»- ISO 7Vi- 7»* 40k 1VU- 1V»4*0- 4Vu 

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Rates applicable to hitman* deposits of$l minion minimum (or equivalent). 


Key Money Rates 


Other Dollar Values 


UTMC7 . taf 

Aiwnfcpwo WWW 

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Austrian KiL 12467 
Bnalrool 1.IID1 
CbbMMfura BJldl 
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PAGE 16 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, DECEMBER 5, 1997 


THE AMERICAS 


wnrariY dw fo " 


I yntfii n atp: (dxhjqpjkhumm 

Investor’s America 



Approach of Jobs Report Trims a Rally 


CmpBedbyOurSuffFnnDlfpeKia 

NEW YORK — Stock prices 
rose Thursday but closed below 
their highs for the day as the U.S. 
jobs report, due Friday, overshad- 


pushing its yield up to 6.04 percent flation to a three-decade low by 
from 6.02 percent. enabling employers to raise wages 

After the unemployment repeat, without raisi n g prices. 


owed optimism dial corporate trouble — but we could also find 
profits mil withstand Asia's eco- ourselves back at 6.10 percent,” 


nomic ensis. said David Berry c 

“We have a sigh of relief that the tional Carp, in Fo 
Asia situation may have stabil- diana. The bond i 
ized,” said David Bayer, a money pushed prices high 
manager with American Express the yield on the 30-y 
Financial Advisors. low as 5.99 perce 

“While we're seeing disap- since Jan. 13, 1996. 
pointments, this is not a disaster. Investors were h 
The comfort level is increasing.” report showing d 
Stock prices also received a work force register 


After the unemployment report, without raising prices. 

“we could go through 6 percent Nonfarm business productivity 
and stay through without too much — oatput per hour wonted — grew 
trouble — but we could also find ata seasonally adjusted annual rate 
ourselves back at 6.10 percent,” of 4.1 percent in the third quarter, 
said David Berry of Lincoln Na-' die Labor Department said. That 


than-expected drop in third-quarter 
sales at stores open at least a year 
Best Buy also issued a profit 
estimate for die quarter, which- 
ended Sunday, that exceeded ana- 
lyst forecasts. 

Wells Fargo jumped 15 13/16 to. 
332 1/16 to after the company’s 


said David Berry of Lincoln Na-' die Labor Department said. That 332 1/16 to after the company s 
tional Carp, in Fort Wayne, In- was revised downward from an es- chairman said he would consioer a 
diana The bond market briefly rimare of 4.5 percent last month, buyout offer for the bank. We us 
pushed prices high enough to pull Still, it was the largest gain since Fargo has a market value of $29.9 
the yield on the 30-ycarTreasury as the final three months of 1992. billion. > 
low as 5.99 percent, the lowest Separately, retailers reported Merck rose 6% to 104% a flay 
since Jan. 13, 1996. mediocre sales for November, with after it said it was working on a 


Investors were heartened by a discounters faring die best and de- 
report showing that America’s, partment and specially stores 


nnwn in t 4 « 


Source: Bloomberg, Reuters 


Very briefly: 


U^, STOCKS 

boost from encouraging develop- 
ments in the inflation and interest- 
rate areas. 

The Dow Jones industrial av- 
erage, which was up more than 81 
at one point during the day, ended 
18.15 points higher at 8,050.16 
after rallies in South Korea and 
Hong Kong. The Standard & 
Poor’s 500-stock index fell 3.67 
points to 973. 10. The Nasdaq com- 
posite index declined 1.71 to 
1 ,6 13.42, despite arally in financial 
and telecommunications stocks. 

Bond prices fell as traders and 
investors braced for the report Fri- 


work force registered the best pro- 
ductivity gain in nearly five years 


struggling through the month. 

But Best Buy rose 444 to 3614 


during the third quarter. Improving after the Minneapolis-based elec- 
productivity has helped push in- tronics retailer reported a smaller- 


billion. 

Merck 'rose 6% to 104% a day 
after it said it was working on a 
drug to treat depression that coukl 
rival EU Lilly's Prozac. 

Computer stocks fell after 3Com 
warned that second-quarter earn- 
ings would trail expectations. 

(Bloomberg, AP) 


Slump in Japan Fuels Dollar Gains 

Bloomberg News Tcocy is going to weaken. " malaise in Asia crimped demand 

NEW YORK — The dollar was The dollar rose to 129 .330 yea in for Japanese exports to the region, 

mixed against other major cufren- 4 PJVf. trading from 128.725 yen Those forces are keying many ni- 
cies Thursday, but it rose to its Wednesday. But the U.S. currency vestors wary of holding yen-de- 
stroagest level against the yen edged down to 1.7706 Deutsche no m i n a te d assets, analysts said, 
since May 1992 after a report marks from L77 15 DM. The dollar could rise to 135 yen 

showing sluggish economic Against. other European curren- by early 1998, said Thomas Beo- 


tnader at Dai-lchi Kangyo Bank. 
“It stands to reason that the cur- 


• Dell Computer Corp.’s founder and chief executive. Mi- investors braced for the report Fri- cline in Japanese stocks, 

chael Dell, plans to sell 300,000 shares in the computer day on U.S. jobs and wages in The benchmark Ni 
company, valued at about $2 53 million, according to doc- November. stock index tumbled 1. 

aments filed with the Securities and Exchange Commission. Separately, a drop in weekly after a report showed th 

• Wells Fargo & Co. would consider a buyout, the bank’s u - s - jobless claims in the latest economy grew at a sic 

chairman and chief executive, Paul Hazeu, said, arguing that weefc confirmed tightness in labor expected rate in the ton 
the high prices hanks were co mmandin g in buyouts made a rearioSs -and could signal a steady fresh evidence that it 
sale something toe company would have to consider. OT lowerNovember unemployment struggling to emerge fr 

^ . _ , . rate, sane economists said. Initial year slump. 

• Chrysler Corp. named Thomas StaUkamp, who has been its claims for unemployment benefits “Nothing seems to b 

head of procurement, as us new president. fell 3,000, to 303.000, last week. ingin Japan,” said Tom 

• Starwood Lodging Trust said its $13.7 billion acquisition The benchmark 30-year Treas- trader at Dai-lchi Kanj 

of ITT Corp. had been cleared by antitrust regulators at the ury bond fell 14/32 to 101 3/32, “It stands to reason tha 
Federal Trade Commission and the Justice Department 

• SouthTrust Corp. agreed to buy 27 branches from H JF. 

" k for$300 Lazard Settles a Fraud Case 

• WorldCom Inc. said it was calking to British Telecom- New York runes Sen-ke 

munications PLC and ot her p hone companies as pan of a NEWVORK— LazaidFreres* Co. has agreed to pay S12 
shift in i ts imanalionai strategy lo use otter companies mMontosettletdvUt^argesrelatttitoall^frauU^om- 
networics as well as building its own. n, um .Biccmbe rt .Af mined by two former executives LnvoNedin municipal- 

securities offerings. 

The decision Wednesday marked the second time in the past 

NYSE Seeks to Alter Trading Halts 

The Associated Press wrongdoin g that took place in the early 1990s. 

NEW YORK — The New York Stock Exchange decided Lazard no longer does any municipal-bond business. 

Thursday to make some changes in rules that stop trading in The two framer executives, Richard Poirier and James 


showing sluggish economic Against. other European curren- 
growth in Japan prompted a de~ ties, the dollar was quoted at 
cline in Japanese stocks. • 1.4320 Swiss francs, up from 

The benchmark Nikkei 225 — — ■■ 

stock index tumbled 1.7 percent FOREIGN EXCHANGE 

after a report showed that Japan’s ; 

economy grew at a slower-than- 1.43 10 francs, but at 5.9275 Bench 
expected rate in the third quarter, francs, down from 5.9975 francs. 


The dollar could rise to 135 yen 
by early 1998, said Thomas B ea- 
ter, director of foreign exchange at 
Bank of Montreal. 

The dollar was little changed 
against the nwk amid concern that 
German officials might sell dollars 
if the U.S. currency rose too-fer too 
fast ‘‘If we get over 1.80 marks 


fresh evidence that it was still The pound was at $1.6675, down again, they’ll start to talk,’ ’ a trader 
struggling to emerge from a six- from $1.6840. said. Traders now are looking to a 


year slump. Japan’s gross domestic product U.S. employment report due Friday 

“Nothing seems to be improv- rose 0.8 percent in the quarter encled for signs on whether the U.S. earn- 
ing in Japan, ’ ’ said Tom Arnold, a Sept. 30. suggesting that an April 1 omy is expanding rapidly enough 


tax increase continued to sap do- to prompt die Federal Reserve 
mestic spending while economic Board to raise interest rates soon. 


Disney Chairman 
Cashes in Options 
For $565 Million 

Los Angeles Tunes Service 

LOS ANGELES — In the single 
biggest payday for an executive in 
history. Michael Eisner, chairman of 
Wait Disney Co., has collected about 
$565 million by exercising-stdek op- 
tions that he had axumolaxed as 
head of the entertainment giant. 

Mr. Eisner exercised options 
Wednesday for 7.3 miUiottshares of 
stock that he has been accumulating 
since they wtrc awarded him in con- 
tract negotiations in January, 1989. 
The huge value reflects in pan a 
Disney stock that has soared lately. 

Mr. Eisner’s pretax payout is us 
second gigantic one within five 
years. In 1992, he reaped $202 mil- 
lion, nearly all from options he ex- 
ercised. That action triggered in- 
tense debate over lucrative stock 
option packages for executives. 
Some experts say this is likely to 
happen again. 

Graef Crystal, the executive 
c ompensa tion specialist who de- 
signed the contract, estimated that 
Mr. Eisner has earned close to $ 1 
billion since he has arrived at Dis- 
ney, putting him for now a shade 
behind Roberto Goizueta, the late 
chairman of Coca-Cola Co., in 
money earned by an executive. But 
Mr. Eisner still has about 8.7 mil- 
lion shares wrath of options that he 
cannot exercise yet. 

His net wrath still trails that of a 
number of executives who own 
large chunks of the companies they 
run. Forbes magazine recently es- 
timated that Bill Gates, chairman of 
Microsoft Corp., is worth $39.8 bil- 
lion. 


AMEX 


Thursday's 4 PJf. Close 

Pie 300 most traded stocks of Biedajr, 
up toflie dosing an Wnl Sheet. 

The Assodaed Press. 


UK Ufest Urge 


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U.S. stock markets when prices plunge but skipped a plan to Eaton, were charged with conspiracy and fraud for secretly 
make it more difficult to trigger the so-called circuit-breakers, paying an executive at Stephens Inc., a brokerage based in 
The change, which requires regulatory approval, would keep Little Rock, Arkansas, to steer municipal-bond business in 
toe point-drop triggers in place but call for shorter trading halts Georgia to Lazard in 1992. 

after 2 P.M. Eastern time and close trading entirely when there Federal investigators, said the agreement and payments 
is a sharp drop after 3 PJVL Currently, t rading is suspended fra defrauded the Fulton County government, which believed that 
half an hour irtheDow Japes industrial average drops 350 points a Stephens vice president, Michael DeVegter, had been acting 
and for one hour if toe index loses 550 points. Those provisions as an indepradent financial consultant when he recommended 
were triggered in the market’s 7.2 percent plunge Oct 27. Lazard as a manager of a municipal-bond offering. 


lunge but skipped a plan to 
; so-called circuit-breakers. 


s a 

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NS Bfe 20ft 


toe poim-drop triggers in place but call for shorter trading halts 
after 2 PJVL Eastern time and close trading entirely when there 


MB 9V 
E» 17 

£ 2 

50B 3D 
U1 4 


INTERNATIONAL FUTURES 


Dec. 4, 1997 


UM ON Opfcil 


com (OKm 

SMObunUmn 


Dec97 

771ft 

247ft 

367ft 

-3ft 

29456 

Mir* 

281ft 

27614 

277 

-3ft 184.1*0 

Mar* 

Jul* 

288 

284 

284U 

-3 

42X33 

292 

786 

288U 

-3 

53X12 

Sep* 

187 

2B3U 

283U 

-3ft 

5234 

Doc* 

287ft 

283 

283ft 

-3ft 

31X84 

Jd* 

297 

294 

296ft 

-2ft 

269 


High Low Latest dig* OpW 

ORANGE JUKE (HCTN) 

1 MOO lbs. -carts per lb. 

JonW 8100 B0J9 075 +1.35 *22,122 

MorM 86.10 BM5 BUS +1J0 14247 

May 98 89.05 8605 005 +160 4467 

juiw nm 91.10 920a +1x5 102 

BL site NA. We* sales 1798 
rife* apwi lit 4523* up 365 


High Law Orfetf Oboe OpM 
18-YEAR FRENCH GOV. BONDS (MATOR) 


Dec 97 10(84 10004 100184 +030 0385 
Mar-98 10038 99 J8 10036 +030 47358 
Jun 98 9930 9930 9938 +030 12 


EsL sales 7*600 We* safe* 60140 
rife* opea Ini 347,151. off 2314 

SOYBEAN MEAL (C80T) 

100 tans- data per loo 
Dec 97 231 JO 22870 22930 -1.10 123*9 
Jan 98 22370 220X0 22060 -130 30190 
Alar 90 21830 21430 21430 -230 34173 
Mar 90 21530 21138 71200 -230 20.984 
Jut 98 21330 21130 21130 -230 14690 

Aug98 21430 21130 71130 -330 4350 

EsI safes 22X00 Wo* safe* 25541 
rift* open W 124157, off 1.930 


cents pwlb 

Dec 97 2502 2445 2447 430 4961 

Jon* 2530 2467 2471 439 47344 

Mar* 2535 2M2 2507 436 34095 

Mot* 2570 2525 2530 430 14466 

Jut 98 25*3 2540 2543 -047 11391 

Aug* 2580 2535 2538 441 4110 

EsL softs 38800 HUMS softs 24991 
WKftopwiM 115487. up 7S8 

SOYBEANS (caon 
5000 bu minimum- data par bushel 
Jon* 707ft 693 «M -12ft 66315 

Mv* 71116 697 697ft -1311 24599 

Alar* 716 702ft 703 -12 21.MT 

Jet* 718ft 70S 705ft -12 22323 

ABB* 711 708 700ft -11 1,794 

EsL safes 5*000 rife* tales 48X28 
rift* open M MUM, eg 51 7 

WHEAT (CBOT) 

UHO tm mftftnum ce nt, pet isi el 

Dec 97 3*1 338V 340ft +lft 4835 

fJaSe 357ft 3SS 354ft +1 540B1 

Mar* 365ft 363 364V +116 1UI7* 

JOIN 369 367 36816 +ft 17490 

Est. softs 14000 VMS softs 19L4BS 

Ws* aptn fait 8M55 up 1.135 


Livestock 

CATTLE CCMEJQ 

MQ0Mn*- cmt% pffft 

D*C 97 6730 6677 6745 +032 15378 

Fob* 6835 6732 68-17 -r<U7 48 3» 

Apr* 7137 7085 7132 +037 21433 

Jim* /a 10 6930 7080 +043 14070 

» n 70170 7087 7062 +030 5148 

N 7273 7280 7235 +0.10 1410 

Ed. srin 144* WMI sales 14114 
Wstfs epsa M 1QS3*. up 41 * 

raEDER CATTLE KME1Q 

SQDOO ItL- ants dvRl 

JoaW 1053 TO.IO 0032 +1.10 LQ9 

Mar* 80-45 7970 8413 +082 4619 

Aar* 8085 7980 8460 +082 L423 

Mar* B!4> 8930 81.15 +067 14*6 

Aug* 82.W 8235 1240 +065 621 

S«p* KUS KUO 8275 +080 133 

EsL k6os 4293 VMi sides 1486 

Wed's open M 15624 sp 1 37 

HOCS-LmsKMEID 
44000 ns.- ceaft per Bu 
DK 97 6415 6265 6287 +032 4473 

Feb* 6080 6035 6062 +032 14809 

Apr* 5770 5780 5765 +022 7309 

JM1* 6662 6535 6535 -HUS 4033 

Jut* 6630 6430 6432 +0.12 1402 

Ed. sales 4961 Mnfs sales 4746 
W w ri cpwiW 44967. m» 266 

PORK BELLIES 4CMEIQ 

AQ0DI&+antiwKL 

Feb* 5935 SU5 5885 +067 4577 

Mar* 6030 5730 5760 +035 14* 

May* 5839 5830 5887 +075 857 

Ed. softs 1451 Weds softs 4110 

Wads open In! 9414 Bp 153 


89.05 8685 99.05 +160 4467 Jun* 9930 *30 *78 + 030 12 

9280 91.10 9280 +185 1472 EsL sales 154474. 

NA Weds safes 17* Opm M.- 137655 up 609. 

n lid 44 234 up 365 

ITALIAN GOVERNMENT BOND (LI FFE) 

Untnls ITLSMisnaa-pbaMOOpd 

"WOW Mar* 11495 11437 11492 +065 114373 

>dSanpertw«. Jw, “ *«*» ”*86 11467 UndL 0 

9230 28680 28630 -410 1.950 Est sales 3S989. Piav.iales: 65085 

28730 410 6 Prey. OpW hL: 128.774 up 4823 


COLDOtCMX} Tr, 

lOObwaz^doBarsperfciirat. 

Dec 97 29230 28680 28630 410 1.950 E*L: 

Jon* 28730 410 6 ^ 

Fab* 29430 28870 28830 400111650 .... 

Apr* 29410 29400 2*70 480 11615 UBO 

JIM* 2*80 29280 29260 400 14535 

Ain* 29840 29430 29430 400 4358 Dec' 

Orf* 29660 480 2446 Jpnj 

Dec* 30380 29860 29890 400 14781 FM1 


LIBOR 1-M0NTH (CMER3 

SI ai Bob- pta d 100 pa 

Dec 97 9602 9480 1401 until. 21465 

Jan* 9427 9484 9*36 untiv 10308 

Feb* 9425 9682 9424 uadL 4483 


30180 480 4667 Ed. iota 5836 Weds sdes M93 


EsL srfes NA Wtatf* «le 32680 
Weds open lid 199,171 up 3632 


Weds open fed 40374 up 145* 


9409 unch. 404407 


9481 9296 9398 383 133731 

9398 9389 9195 +083 94M1S2 

9192 9387 9489 +883 94466 

9X94 9289 9291 +083 72324 


Hkjh Law Latest Gbps OpM 

Sep* 9560 9532 9560 +084 696* 

Dec* 9536 9536 9536 +085 57463 

Mar* 9534 95.17 9524 +046 61475 

Ed.Mfts: 76316. Prw. vries 40857 
PlW.apentaL; 571.130 up 4226 

Industrials 
COTTON 2 CNCTW 
50000 IbA- cents per R>. 

Dee* 6730 6630 6638 -139 281 

Mar* 6980 6820 6036 -147 44858 

Mar* 7060 6935 £9.95 -143 14955 

Jot* 7190 7140 7130 -095 14721 

Od* 7330 7290 7225 -038 1416 

EsL ssta NA Weds sates 5483 
Weds men Ini 84999. op 43 

HEATING' Ol LCNMER) 

42000 gal cents pergiri 
Jaw* 5385 5385 5235 -0.15 54711 

Feb* 5445 5385 5294 4.15 28306 

Mar* 5445 5385 5294 -020 14949 

Apr* 5360 5120 5124 420 7,929 

Mar* 5290 5239 5269 -885 41* 

Jan* 5265 5284 5224 -025 4685 

Jul* 5280 5289 5429 -085 45* 

Ed- safes HA WedtsdK 29364 



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U. S. STOCK MARKET DIARY 


Indexes 
.a i Dow Jones 


Most Actives 


MUt 80081 811481 8824* *4961 +1761 Compaq s 
Tam 329499 33Z406 328178 330164 +1580 Mwtit 
U11 2069 B987 25732 25986 4L» TestodS 

camp 362164 283538 161161 2628.17 +636 Osin 

TexUB 

Standard & Poors 8J^ws 

fteift s Tedar JmSi 
Hlfll Lorn OeM 4 PM. g Pg* 1 
Indettriafa 113401111977113335 1126.16 nflMors 
Transp. 69869 68895 69738 59632 Tawfis 
UtffiEes 221.12 21932 21939 21931 KSK* 

Rnancs 1193S 118.10 11933 11936 

5P500 98031 966.16 976J7 973-55 

SPT00 47091 46235 46830 66730 . 


1*3*66* 
96681 185 
8101 46<*ri 
74477 151% 

62669 46 

40H9 66 

55474 Hk 


tM ue a» 
62ft 63*11 -1ft 
lamtSfek, +6»-« 

44 44ft -21V 
lft, vavft -is 
39ft 40 
76 79ft ♦ftft 
7 +lft 


51629 11»« 112ft tl>: +lft 

50022 I9Vri 17ft 17ft» -1ft 

44897 136 U9Vri 135ft +6 

43534 45ft 44’, 44'*, ^e 


42*1 571, 
41971 63ft 
39174 53ft 
36993 738ft 


EURODOLLARS (CME 

HI SHADE COPPER (HCMX) 81 mjlloo-pNollOOirt. 

2&000 8B.- carls per Dec 97 94.10 MOT . 

Dec 97 >180 80-30 80.70 +060 2673 ft&9* JAW «-16 94.17 UndL 2310 Jd* 5260 5289 5289 

Jan* 8160 8065 8100 +075 2668 Wfer* PAlt M.15 96.16 ndsdUH EsL nfes HA Weds stdes 2836 

RAM 8260 8280 8225 +060 1,761 £18 £13 £Jf 2&S We* qienM 134601, up 467? 

MOT* 82.90 81 JO 82-55 +070 31336 Sep* 94.14 94 j08 94.11 +402 269399 

Apr* 8110 BIOS 8305 +070 1610 0*98 M05 9400 94OT +003 211428 , JGHT cwrrr rOJ,nF mUFI 

May* 83J0 8330 8330 +4L55 4690 £« +0« 16jn6 ^ {WME 

Jen* 8300 8360 8360 +035 L525 JBO* 9401 9396 9396 un 133331 

Jut* 84.10 83J0 8390 +055 3330 Sw» £89 9395 "1B3 99052 ^ 

SSSSStftSSffiST 1 - fiSJStS w ” 8 ** S3 SS SS 

MCM» WW»op«itrd 2788096. up 36M J?* ■ T . > ^ I „. 1 ? J9 . 


SILVER (NCMK 
5000 bur olt oats psr Put to. 
Dec 97 52500 52300 52400 
Jan* 52390 

Pet* 53330 

Mv* 534.00 52760 53QJ50 


160 L473 BRTTTSH POUNOfCMBU 

1O0 36 42600 pound* 8 pa- paml 

100 Dec 97 16846 16622 166S8 -0164 52.130 

130 64608 Mar* 16764 16540 16586 -OU2 4601 


Mar* 53600 53200 63360 -TJ» 3735 J«l* 16600 16600 16510 -0162 U53 
Jd* 536.00 53400 53350 -160 3344 Ed. safes 12J97 We* safes M41 


Sep* 540 A) 537 JO 537 JO -160 002 

Dec* 54060 53940 53940 -140 5605 

Est. idesNA Wo* sales 15.144 
Ws* open bit 83724. on 519 

PLATINUM (NMEK) - 
50 Irar Bt- dakia per bn «. 

Ja>9B 38560 37940 38140 -A70 10365 

Apr* 37960 37640 37760 -4J0 2J29 

Jd* 38240 37460 37460 -470 104 

EsL sales NA We* safes 1643 
WB* Open M 1 2,998, « 139 


We*apaiM57J86.usll7 hww 2 -wu mx 2J0 o -awn 

^ to 98 Z210 2.150 2.185 -0445 

CANADIAN DOLLAR (CMEK) J1S JIS 1H22 

loaooa •;;:«(«. S per Ota. <nr Jan* 2.190 2.190 2.175 41430 

Dec 91 J0S5 .Jim 37-00118 58,136 Ed. lafes. HA VWNsdM 43,943 

Mar* 7082 J057 7065-06019 IMIS We* Open W20A849, off 2607 
An * J096 JOBS JO H -04019 1702 

EsL sdM 17.212 MMri sales 12W94 UNLEADED GASOLINE (NMES) 

We* open bd *431, off 7 <2400 gal certs per gd 

Jai* 5665 5590 5444 -071 
GERMAN MARK (CME* Feb* 57.15 5625 5466 -027 

125000 marics, > per node Ma-98 5765 5440 57.14 -0J9 

Dec 97 6658 6637 6646-04006 46641 Apr*- 6040 5965 5904 -022 

Mar* 64* JS7U 6676-04004 10.934 May* 59.95 5960 59-6* -022 


LONDON METALS (LMB Mar* 66* SOO 6674-04004 HL934 

Dooms pa- nefcfc fen Jan* 6703 6*1 6703-0400* 4.111 

AmdaM (KM 6n«) Ed. satal&469 We* sales 19669 

1776W 17771b SSKHSBL 

Farwart 181840 181940 IBOBft 180914 Oec97 7785 J713 7736-04045 1249*9 

jJW* __ ____ Mar* JWO J825 7*43 -00048 104*2 

5P* . 2J-S SHS J" 098 ■» 795804049 16B9 

^wrt 55040 55140 53*40 5KOO EsL sales 28450 We* safes. 12^08 

Sort Mnm iokoi BMAfla oucm Ws*apsnlnf UA59& off 266® 


LIGHT SWEET CRUDE (NMEIO 
1400 bbL-daBan per bbL 
Jon* 1863 1865 I860 -020 10M87 

Feb* 19.15 1842 1845 -0.18 62468 

Mar* 19^ 1940 1942 -015 33794 

to* 1967 19.14 19.14 -013 21290 

Mar* 1945 1964 1964 -012 21.111 

Jui* 1961 1969 1969 -OH 33582 

EsL sola NA Wb* sdes 104197 
Wft* open Irt 423620 iq> 2605 

NATURAL GAS WMERt 

laooamMuwiperimMv 

Jan* 2617 2600 7440 -0149 0913 

Feb 99 2610 2350 1400 -0110 24897 

Mm 96 2670 2650 2600 -OOTO 205* 

to 98 Z210 2150 2185 -0045 12468 

Mar* 2190 2150 1175 -0030 9,229 

Jan* 21* 2150 2175 41430 8660 

Ed. tales HA We* sdes 4L943 
We* open W 204849, off 26OT 

UNLEADED GASOLINE (NMES! 

42400 gal certs per art 
Jan* 5485 55.90 5434 -021 34099 

Feb* 57.15 5425 5446 -027 17,147 

Mm* 5765 5480 57.14 029 109S3 

Apr*- 6000 59-45 S9M 062 0842 



Nasdaq 


321 JS -238 
49567 +261 


Nasdaq 


m sss 

*71-99 44048 


180274 inHJg 
20881 73*7*1 
187011 106014 


HNe u> IM 

67075 66569 66560 


S6 54ft 
60ft 61 
51 N 52ft 
72V* 72** 


76 W» -I'ft, 
228ft 24 1 +Jft 
89»* 9l'a -ft 


41Yft Oft 40»ii 


37ft 39ft -lift 


Dow Jones Bond 


20 Bonds 
louratfes 
10 Imfoditab 


Trading Activity 


351ft 33ft 33’i 
1451ft l4JftlO*ft 
24ft 23ft n’t 

33^. 3TV. gjs 
31ft IlVn 30ft 
87ft 85Vri 14ft 
22ft IW 11 1 ft. 
lit* 10 UVa 
7ft 4N 7V| 
3ft 26ft 3 »>b 


vm nig* lm Law CPs. 

£944 lto Vi lift -1» 

30604 101ft l«* JJft +h 

MOOT SBftB 97ft 97ftl 4« 

2167S Ip «M ift 

18143 ft ta V* Ore 

14914 4<*ft 6 MS -ft 

11141 2Sft |V* M. -4ft 
1Q18B p, It ft 4ft 

1010 4 Aftri 4*ft . 6ft +Vs 

9388 22ft 21ft 21ft -Vs 


Nasdaq 


BOSS 


TOdHsiMs 

BSSSS? 

Market Sales 


-10 J19 

-10 49,108 
•10 T&734 
•10 4652 
-12 56* 
* 01S 


Food 

COCOA CNC5EJ 
10 maMe tans- s per Isa 
Dec 97 1560 1548 1541 

Mar* IMS 1571 1578 

MOT* 1614 1600 1*07 

JdVB 16S 1623 1437 

Sip* 1650 16*2 1646 

Dec* 1674 1661 1667 

EsL safes X393 rift* sates 1974 

We* open fad 9940a aUltt 


CDPFEE C (HCSE) 

37,500 to- cads pa lb. 

Dec 97 17400 171 JO 17500 +U00 975 

Man 17045 14073 14960 +240 15601 
Mar9S 14200 157JM 16165 +L2B 5JM 
Jd* 15*00 ISO JO 153-50 +040 2404 

Sep* 1*700 1«L65 MASS 406 1,191 
EsL safes Al S3 Ws* safes 8464 
rift* apai fad 24465, up 410 

SUGARWORLD 11 OKIE) 

112400 to- cads dvKl 
M ar* 1242 Si 1248 inch. llOOfl 

MorM 1243 12-25 1260 until. 22.128 

JM* 12JB3 11.94 11.98 +4U1 27650 

Od* IU8 UJ3 UJS aadL 23.984 

EsL sdes 14540 Wb* safes 10665 
rift* span fad 204294, Up 1*40 


»d 533ft 534ft 51760 51800 

Fcranrt 55000 55100 43400 SJ5O0 

NidH 

Spot 607500 608500 586000 5B65O0 

Forworn 616500 (17500 595500 9MOOO 

TH 

Spot 58*000 5850.00 573000 573000 

Forward 57204)0 5730.00 5*40X0 56*560 

21k (Spsdal Ifigfe Gmfe) 

Spat llUft 1112ft 10B4M 1085ft 

toward 1135X0 1134X0 1110X0 1111X0 

Mgh Law dose Qigs OpM 

Financial 

UST BILLS (CME ID 
81 ml Boo- pis of 100 od. 

Dee 97 9456 9454 94.94 untiv £362 

Ma* 95X6 9SX7 '95X7 undv U48 

Jan M 95X1 95X4 95-0S +0X3 899 

Sap* 95.05 +0X6 73 

EsL safes 1671 rift* safe* 1691 
Wa* open M1&652, off 345 

SYR TREASURY (C80T1 

sirnau Ortn- Ml A 64BB al 100 pd 

Dec 97 108-33 108-15 108-18 +03 8&4M 

EsL sides 54600 Wo* sties 81660 
We* open fad 251852, oft 496* 

1IYR TREASURY (CBOT) 

SIOOLOOO prin- pH A 32Mfe anoo pd 
Dee 97 112X4 111-26 111-27 + 01 1386* 
MorM 111-28 111-17 111-18 undv 2S&ZO 
JonW 111-18 111-15 111-15 unch. 323 
EsL safes 90.900 rife* sales 102631 
rift* opai tat 39U5L na 6629 

US TREASURY BONDS (CBOT) 

(Bpd-Sl OaOTOpb A 32MS 0> 100 pcO 
Dec 97 12040 119-11 119-12 -04 160021 

Mar* 119-J6 11944 11945 -05 5TSM 

Jim* 119-11 118-27 118-27 -05 15404 

Sep* 11940 118-19 118-19 -04 L703 

EsL sales 37M00 Wo* softs 247X40 
rift* opan M699L1BH lip SJ32 

long gilt aim) 

SSDJXD ■ pts A 32nds an* pd 
Dec 97 119-17 11944 119-14 +449 46457 
Mar* 19046 119-91 120-01 +449 15&073 
Jan* 104-13 106-13 104-11 +047 9* 

EsL safes: MODS. Pnn. safes.- 82.113 
Pm-apaalaL: 310530 aS 2618 

GERMAN GOV. BUND (LIFER 
OM25QX0Q ■ Dll d 100 ad 
DscWlOASB 10*10* 10443 +0J1 
Mar* 10184 10343 10379 +467 18(6379 
Jim* N.T. NT. 10315 +433 M 

Ed. safes; 254419. Pm. safes: 299697 
Pnv.apsnlnL: 279675 op 5640 


SriflSS FRANC (CMEK) 
12 & 8 Q 0 lianas partranc 


Jun* 59X0 59.14 -59.14 -OJ6 6X69 

Jut* 5&50 5864 5864 -421 *074 

Aug* 58X0 5769 5769 461 L781 

EsL safes NA Wa* sates 23327 
Wri* open tat 9*458. up 2617 

GASOIL OPS 

U6. dafen per imMc tan - lafe of 100 tens 
Dec 97 147X0 165X0 16565 +1150 15681 

Jan* 167JS 1*665 1666S Unch. 2A291 

Feb 90 147JS 16*65 1MJ» +050 15797 

Mar* 16*75 1*575 166.00 +0 lS0 11-481 

Ajm* 1*550 165X 16475 Unch. «34 

May* 16475 16465 16425 Until. 3745 


296 

MS 5^ 
hJ Amox 
“ Nastai 
19 InmUonx 


Dividends 

Company 


Par Amt . Roc Pay Company 


6*9 6972 4989 •4X014 *1-407 Jan* 16*75 16*50 16*00 Until. 10816 


Mm* JOB? 6048 J040 -0X016 8439 

Jun S3 .7130-0X017 16* 

Ed. ides 10343 rife* s a fes 1*609 
Wo* opal In) 5L250, off U« 

MEXICAN PE50(CMER) 


Dec 97 .12320 .12 


.12275+ X02I3 1*028 


Est. safes: I07B5. Plev. sefes : 19X75 
tor- open tal_- im.212 up 1-968 

BRENT OIL OPE) 

UA. doUas per Kami • lots of WOO bands 
Jan* i860 18X2 18X6 -0.12 d&*30 

Feb* 1867 18X4 18X7 -OJ1 1M80 

Mar* 1868 18X8 18X8 -ail 13696 


Mar* .11905 .11860 .US62+X02B4 11,110 iaS jam Uin 

”** «Sr* IS ioot \l 

&Ljwfes 7.13BJW* sates 8JB1 Jun* 1BJ8 18X9 18X9 —0.11 

rife* open kd2L*7a up W EsL setec 3400D . Pier. Hdrt: 55451 

3-MOHTH STERLING OJETCI Pnw. «• H: 191-226 up 5531 

ESOfW’.': - pfs ol 100 pel — 

Dec 97 9334 9367 9332 +0X4 15*301 Stock IndGXBS 

Mar* 9221 9363 9239 +007 124301 IP COMP INDEX (CMEU 

to* 9337 9366 9225 +009 107359 JmTblrtL 

Set»« ?Z47 9237 9245 +0XB 83»4 


Mar* 1838 18X7 18X9 —0.10 15,113 
Jun* 1BJ8 18X9 18X9 -Oil 4415 
EsL idee: 340*. Pier, sdrt: 55451 
P 10 *. open W: 19162* up M31 

Stock Indexes 
IP COMP INDEX (CMER3 
2SBxlatax 

Dec 97 985X0 97380' 97370 -380 3426*0 


Dec* 92X3 9254 92X2 +008 7*420 996JD 9»5a wiw 3X0 iSSl 

MorW 9382 9374 9382 +0X8 0.120 ^ *1211 

Jun» 939? 93S1 9229 +0X8 5*892 1975 


EsLsdOE 89401. Pmr.sdwc 53438 
Pies, open WL: 801X00 op U 74 

3-MONTH EireOMARKOIIVE) 

□MlraBtan-ptsodOOpd 

Dec 97 9662 96.19 9662 +002 276613 


Est. safes NA rife* safes 157X25 
rife* open tat 41 *519, up 3317 

FT5E 100OJFFE1 
E25perbnfexpaM 

Dec* 5012 5040X 50990 +108 63119 


9663 *61 *S +002 11496 *■« 5D6BB 508X0 51455 +1085 969* 


Feb* NT. NT. 96.14 +002 750 EsLsdes: 1**S 

Md* 9*08 9645 96X8 +002 332X61 Pret. open taL- 

Jon* 96X8 95X2 - 95X8 +003 298,643 

Sep 98 9571 9SX3 «71 +004 219673 CACXHMATTFl 

Dec* 9551 9543 9550 +004 19ZJ05 mmwsrhlto 

Mar 99 9534 9567 9563 +0X3 211547 

Jun* 9517 9512 9517 +0X3 101,778 £2, 


EsLsdes: 14427. Pm. safes: &93B 
Piet, open taL- 09413 up 451 


Doe 97 2959X 29&0 2925X +174 6*178 
Jan* 29S3S 7941 X 29330 +17X *604 


5ep99 951Q «** 95X3 +083 87X29 J ifc* Ht3X MO Ins 


EsLsdee 17*895 Pm. softs: 181446 
Pm. open BA 1.902658 Up 15914 

3-MDNTH PIBOR (MAT1R 

FF5 nriDoa - Ms d 100 pd 

Dec 97 9661 9667 9669 + 0X1 68666 

JoaM 9662 9621 9622 Uadi. 152 

Frib* 96.15 96,15 96,15 UndL 5 

Mar* 9609 96X5 96X8 +0X2 66187 

Jon* 95X7 95X2 95X6 +0X3 35937 

EsL Kto- 3122* 

open ktc 27*957 Ofl 1627. 


S*P* 2^0 29600 29370 +180 10635 
Mar* 30200 301 IX 3D00X +21X 5120- 

EsL sales: 18955 
Open Ink 78509 ofl 233. 


Commodity Indexes 


2 ™ s7 “ Mn - %%£ tSn IjkjS 

StffSKTSS.K'™ ™ F “ ,ra 

Dsc97 93.98 93J2 93X8 +0X2 105461 Soonxs: Ma& AssadoM Press. Lomton 

Mor98 9425 9*68 9*74 +0X3 ISWO !^1 RnendetPidOtES Extbong* Inn 
Jun* 9524 9517 9564 +0X4127.193 PstnUwn Exchange. 


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>• ■ ■ 






EUROPE 


* 52% Stake in GEC Alsthom to Be Sold in ’98 


Alsthom 
Co. of Bri- 
said Thursday they would sell 
?^Jf erceat °f **»«* GEC Alsthom 
311 “****1 public of- 
“ P?®, giving them cash to 
111 nn? m main businesses. 

. Tne companies plan to sell shares 
to London, New York and Paris in 
Jne Cm half of next year, reducing 

ww 50 percent stakes to 24 percent 

GEC Alsthom, a power plant and 
jipusportatioo manufacturer known 
for its high-speed TGV trains, is 
worth about $6.71 billion, Alcatel 
•a*- v ttuL 

'\r- Alcatel’s chief executive. Serge 
Tchuruk, said that the floatation 
«2>uld occur in the spring or summer 
of next year. 

GEC, which analysts expect even- 
tually to withdraw from the yentme, 
. said it would use the money from the 
sale to make acquisitions in defense 


and industrial electronics. Alcatel 
said it would keep its 24 percent 
stake. Analysts said Alcatel may use 
part of the funds from the sale to 
reduce its debt. 

“This will give both shareholders 
better liquidity to manage as they 
wish,” said Emmanuel Dubois-Pel- 
erin, on analyst at Standard & Poor’s 
Corp. “GEC Alsthom no longer 
needs their support in a competitive 
environment." 

Alcatel's shares rose 6 francs to 
close at 740 ($124.84) in Paris, apd 
GEC rose 9 pence to close at 400 
($6.74) in London. 

Alcatel and GEC said their share- 
holders would get preferential rights 
to a portion of the offering. An Alc- 
atel spokesman said it was too early 
to say what proportion that would 
be. The company, now legally reg- 
istered in the Netherlands, will be- 
come French and take the name Al- 
sthom. Alcaiel .Alsthom will 
become simply Alcatel. 


■ The share sale could also speed an 
allianc e between GEC Alsthom and 
Framatome SA, a French state-con- 
trolled nuclear-reactor maker of 
which Alcatel owns 44 percent, ana- 
lysts $akL A planned merger between 
the two companies failed this year 
because GEC refused to bow to de- 
mands from the French government 
that it own less than 50 percent of the 
new company. 

Sales in the first half of GEC 
Alsthom’ s fiscal year, ended Sept. 
30, rose 20 percent, while orders 
rose by 40 percent to 50 percent, 
Alcatel said. 

Although GEC Alsthom suffered 
a setback last month when it lost a 
bid for Westinghouse Electric 
Corp.’s conventional energy busi- 
ness to Siemens AG, analysts said it 
was ready to stand alone in a rapidly 
consolidating industry. 

For Alcatel Alsthom the decision 
to reduce its holding in GEC Al- 
sthom fits its strategy of focusing on 


its telecommunications businesses 
while keeping industrial sharehold- 
ings that could provide new appli- 
cations and markets for those 
products. 

Alcatel earned 2.7 bilUon francs 
in 1996, recovering from a 1995 
loss. As of June 30 this year, its debt 
rose to 15.5 billion francs from 13.1 
billion francs at end of 1996. 

Separately, General Electric said 
adjusted first-half earnings per share 
rose 63 percent as undenyin^ profit 
growth across most of its businesses 
offset the impact of a strong pound. 

Faming-^ per share rose to 10.1 
pence from 93 pence, after exclud- 
ing exceptional items in the pre- 
vious year, as operating profit rose 9 
percent, to £389 milKon. . 

Earnings were driven by a 29 
percent jump in profit to £150 mil- 
lion at GEC-Marcooi, the defense 
electronics business. 

General Electric's sales rose 13 
percent, to £5.12 billion. 


German and French Economies Get in Synch 


Bloomberg News 

^ PARIS — The German and 
French economies expanded at a 
similar pace in the tiuroquartor. Ham 
released Thursday showed, which 
economists said should smooth the 
transition to a common European 
currency in 1999. 

Germany’s output rose 0.8 per- 
cent from the previous quarter and 
France's rose 0.9 percent. On an 
annual basis, the German economy 
expanded 2.3 percent and the French 
economy grew 2.7 percent 

The similar growth in Europe’s 
two biggest economies means both 
nations are likely to agree on com- 
mon interest rates among nations 


Nations Post Similar Growth for 3d Quarter 


that will share the single currency, 
or euro, economists said. 

The growth also will lead to high- 
er tax revenue, making it easier for 
those nations to cut deficits to the 
level required for the euro, they 
said. 

‘ ‘The room for tension on interest 
rates between Germany and France 
is just not there for at least the next 
18 months," said Joanne Perez, an 
economist at Merrill Lynch & Co. in 1 
Paris. 

Agreement on interest rates is es- 
sential for the planned common 


European currency, economists 
said. 

While Germany’s third-quarter 
growth rare was fueled mainly by 
exports, there were signs of a re- 
bound in consumer spending in 
France. Spending by French fam- 
ilies rose 1.1'percent in the quarter, 
the fastest growth since early 1996, 
compared with a 1 .1 percent decline 
in such spending in Germany. 

In bom countries, the rate of cor- 
porate investment increased, the 
data showed. French investment 
rose 1.7 percent from the second 


GrandMet’s ‘Swan Song 9 Profit Takes a Leap 


GmpOtdlrtOirSirifFnimDbimha 

LONDON — In its last profit re- 
port before merging with Guinness 
PLC, Grand Metropolitan PLC said 
Thursday that its pretax profit 
jumped to £834 milli on ($1.4 billion) 
in die year that ended Sept. 30 from 
£388 million the previous year. 

But the food and beverage con- 
glomerate said the profit increase 
would have been even greater if not 
for the strong pound, which resulted 
in 3 £75 million reduction in the 


company's profits overseas after 
currency conversion. 

GrandMet and Guinness plan to 
form a company called Diageo in a 
merger valued at about $37 billion. 

“It’s pretty much a parting swan 
song for them because the numbers 
are clearly overshadowed by the 
prospects for Diageo," said Nick 
Lyail, an analyst at Societe Gen- 
erate, of the results. 

GrandMet’s profit was driven by 
a strong performance from its U.S. 


food subsidiary. Pillsbury, which 
showed a profit of £457 million, a 12 
percent increase. 

Bat the strength of the pound hit 
IDV, GrandMet’s spirits division, 
where profit fell 2 percent, to £460 
million, although sales worldwide 
and prices improved by 2 percent. 

Results at GrandMet’s fast-food 
restaurant chain. Burger King, with 
9,400 outlets, showed a £3 million 
increase, .to £ 1 70 million. 

(Reuters. AFX) 


quarter, its biggest gain since 1995, 
while German investment rose 23 
percent. 

The stronger domestic economy 
in France compared with Germany 
is not likely to lead to any diver- 
gence between the two nations oh 
interest rates, economists said. 
France’s inflation rate is running 
below that of Germany, suggesting 
France has greater room to maneu- 
ver before it feels obliged to raise its 
rales. 

The main central bank interest 
rates of Germany and Ranee are 
both at 33 percent, and economists 
expect the countries’ central banks 
to act in tandem in the months lead- 
ing up to the introduction of the 
euro. 

The dedsionan what interest rates 
will be applied to the 10 or 11 coun- 
tries that are expected to adopt die 
euro in 1999 will be taken at the first 
meeting of tite European Central 
Bank executive, on Jan. 4, 1999. 

The officials will need to find -a 
balarice between the lower interest 
rates in Germany, France and the 
Benelux region and the higher rates 
in Italy, Spain and Portugal. 

France has been pressing its 
European Union partners to' agree to 
adopt interest rates close to pre- 
vailing rates in France and Germa- 
ny. 


Deutsche 
4 Willing’ to 
Aid Russia 

Caoviteib} OwSK&PnmDIiptKka. 

FRANKFURT Deutsche 
Bank AG said Thursday it was one 
of several banks that was consid- 
ering lending about $2 billion to the 
Russian government, money die 
country could use to calm its fi- 
nancial markets. 

“Weare onty one bank, among a 
whole group of banks, which is will- 
ing to lend the money to Russia^’ 
said a spokesman fix’ the bank, who 
confirmed negotiations between the 
bank’s Deutsche Morgan Grenfell 
unit and the Russian government 

Russia’s first deputy prime min- 
ister; Anatoli Chubais, has also con- 
tacted Salomon Smith Barney, Credit 
Suisse Firet Boston and Chase Man- 
hattan Bank about loans, according 
to published reports. Salomon ex- 
ecutives declined to comment, as did 
Mr. Chubais's press office. ■ 

Meanwhile, a Russian oil-in- 
dustry official said Moscow was 
considering using a stake of as much 
as 96 percent in the state oil com- 
pany AO Rosneft to secure the 
emergency financing package. 

“I do not know' all the details of 
these talks," said Pyotr Rodionov, 
former deputy chief executive of 
RAO Gazprom, the gas monopoly 
and a fonnereaergy minister. “But! 
believe they are talking of using up 
to 96 percent of Rosneft shares/’ 

Moscow is considering a financing 
package to meet a shortfall in revenue 
caused by poor tax collection and 
stalled privatizations. An Internation- 
al Monetary Fund team is reviewing 
the government's pr ogre ss on tax ool- 
lertinti and ov erhauling the economy. 

If ihelMF approves, Russia could gk 
$700 million before the end of tie 
year, about two morahs early. 

Separately, the World Bank said 
it had ended negotiations on lending 
Russia $1.6 billion to overhaul its 
coal indostiy and help stabilize its 
economy and would Him*™ wheth- 
er to approve the loans at a meeting 
Dec. 18. (Bloomberg. Reuters) 

■ Vohro Plans Plant in Russia 

Volvo AB signed a letter of intent 
with Russia for production of buses 
and trucks in Russia, an investment 
that could be worth $100 millio n, 
Agence France-Presse reported from 
Gothenburg, Sweden. 

A bus plant could be built within 
two years, Volvo’s chief executive, 
Leif Johansson, said. 


Investor’s Europe 









i:r : vWH5r^r 









>y. ^ 

•My- X :r. tv * 

•£>£&. I . 1 . 1 .T.M 

< • • r / { ' .'VA-: v ;; \\V ' < 


Source: Tefekuts 

■ ’4 

' ' ' ’ ' ' 1 . I 

Very briefly: _r 

•The Bundesbank, said the Goman 'Federal Bond Cod-*.' 
sortium, a group of banks that sets terms for government boncK 
sales and. is obliged to buy thofirst part of two-tranche sales,' 
would be scrapped as of Jan. 1; the move was seen as the latest' 
in a series of compromises between the central bank and the’- 
government aimed at malting Goman debt more attractive to 
foreign investors. 

• Renters Holdings PLC w31 return £13 billion ($232 ' 

biIlion) tD shareholders as it focuses on current businesses' •> 
rathotbmdtversifying;Reuiierc IS * 

new ordinary shares plus £13.60 for every 15 existing shares - 
they hold. 

• Great Universal Stores PLC, Britain’s largest catalog- • 
shopping company, said its profit for the first half ended Sept. k 
30 rose 113 percent, to £1743 milK on. 

• Hanson PLC, the British building-materials group, said its ^ 

profit for the quarter ended Sept. 30 rose 21 percent, to £97 . 
million, and its founder, Loud Hanson, confirmed he would 
step down as chairman at the end of the year. 1 

• RAO Gazprom. Russia’s gas monopoly, said it planned to 
invest $40 billion over die next eight years as part of a 

comprehensive gtobd ecqiansion progr am . .* 

• VEBA AG, the Ge rman industrial group, said it would; 
invest 32 3 billion Deutsche marks ($183 billion) between “ 
1998 and 2002 as part of an expansion drive, with nearly half . 
the amount to be invested abroad. 

• Porsche AG, die German, sports-ear manufacturer, said its'; 
net profit almost tripled in the year ended July 31. to 139.4 
miluottDM, and that it expected a further 1 0 percent increase 
in the current year. 

• Credit Lyonnais SA, France’s embattled state-owned, - 


Switzerland, or 20 percent of its domestic network, in return^ 
for approval of a new State rescue plan. Bloomberg, Reuters, AFP ! 


WORLD STOCK MARKETS 


Kgli Low Own Pw. 


Mgh law dose Prav. 


HI* LOW On* Pw 


Hijh Low dOM Prav. 


Thursday, Dec. 4 

Prices tai loco) currencies. 

TehrkU/s 

MW Low don Prav. 


Amsterdam AEXtamcviiua 

PinkHiMV 


DeubdwBank 11550 11190 11535 1M50 
DcutTcMun 3655 34*5 3480 36*0 


Saw* 

SBC 

Tiger Oats 


ABN- AMRO 
Aegon 
Ahold 
AJauNobd 
Boon Co. 

4 Bats Wesson 

CSMcw 
Docdbdie Pel 
• DSM 
Bonier 
Fortts Amev 
Getnria 
G-Broccva 

nemencn 

Hoogwenscw 
Hunt Dcb#» 
MG Group 
KLM 
KNPBT 
KPN 

NfxHcmlGp 

Nufrtda 

OceGnnfcn 

PhUoElec 

Potrarom 

Rim&adHdg 

Rafaeca 

Rodomco 

PnC«if n 
rCOHlCU 

Rnranki 
RowriDeteh 
U puna- era 
VendnM 
VNU 

Woven XI era 

^ Bangkok 

AdvInteSvc 
Bao0u*BkF 
Krona Hid Bk 
PIT Explw 
Slam Gamut F 
Siam Con Bk F 
Tdecamasia 
Thol AMrop 
Thai Farm Bk F 
Utd Carom 


4UQ 41 JU 
17440 17440 
5490 55J0 
358.20 359 

149.10 1SL80 
SOW 37M 
8470 8590 
10140 10190 
1B420 10440 
3150 3180 
B410 B490 
49J0 49.90 
5150 5340 
93 9X80 
345 343.10 
92JB 5QJS0 

JU laao 

84 8890 
7110 733) 
4490 MJM 


Dresdner Bank 

71® 

7V80 

7125 

70 

Fresenkis 

• 287 

TUI 

281 

284 

EmenkcMcd 

11250 

111 

11150 11150 

Fried. Kr^js 

356 

3S5 

355 

351 

Gehe 

9850 

9650 

9750 

9550 

HcddetogZiiri 

1® 

13V 

139 

138 

Henkel pfd 

110.90 

no iiojo 

10V 

HEW 

441 

Ml 

441 

461 


79 

78® 

7850 

7950 

Haachst 

64.15 

4250 

43® 

63.35 

Kantodt 

444 

458 

4A4 

442 


Kuala Lumpur t w»a =jM 

Kmvovi: MBJM 


119 

2555 

12020 

2535 

120 

2435 

UHUttWes 
Vendame Lx uts 

7.95 

4J0 

7JQ 

455 

749 

470 

744 

4*4 

Paris 



AxtTOA 
AflaaCopco A 

1® 

25250 

3550 137 137® 

2® 25150 24830 

50 

5020 

51 

VoMoae 

199 

175 

347 

177 



AuMte 

294 29050 

.294 29150 

211® 

212 

212 

WMtbrcad 

855 

1® 

850 

8*5 




BodrotatB 

428 

614 

627 410 

4850 

69 

69 

WnmasHdgs 

158 

141 

355 

151 


1193 

1144 1145 1159 

Ericsson B - 

316 

307 

314 297 




Wabek7 

522 

475 

491 

484 

AGP 

33550 

334 335.18 33150 

Henoa B 

374. 

362 

373 30 




WPP Group 

2*8 

2*3 

7*4 

2*2 

AJrUqidde 

948 

932 937 933 


722 

715 

715 716 




Zeneov 

1955 

1932 

1946 

1959 

AtarieLAtoti 

745 

738 740 734 

lnwsir B 

39T 38050 38950 32950 


Lahmercr 7890 77.10 7150 7450 

Unde U12 lias 1112 wm 

Lufthansa R 3440 34 3430 3590 

WAN 5M.S3 540 547 JO 541 

Mtnwsmnn B81S0 878 880 877 JO 

MeUgaefltthaft3410 3402 3408 3395 
AAefcn 8150 81 82 83 

Mondi Rueck R 400 595 SW.58 59550 


4490 4420 
41.40 6060 
229 277 JO 
13140 13150 
103 102JD 
7420 7430 
190JO 19050 
5470 54JD 
180 179 

120 11900 
10190 104 W 
12050 n&40 
1«U0 109 

5080 5070 
24420 24830 


5ETMBC J8177 
Provlaoo: 177 J8 

180 194 IBS 

114 114 114 

1125 1275 12 

372 372 374 

334 334 324 

5450 6DS '. 54 

11 11 1150 

43 44 43 

WO 101 100 

3075 2175 2075 


Preinsog 529 

RWE 96 

SAP 544 

Sdiertno 179 

SGL Canran 239 

Siemens 108. 70 

SprtnoortAwfl 1400 

Saedrodar 945 

Thnseit 42150 

Vefca USJCi 

WEVt 570 

VlM 945 

Vonmgen 1051 


AAMABHdgs 

Genfing 

Md Banking 

MdtnHS MpF 

Petrams Gas 

Proton 

PaUcBk 

Rawp 

RmrtsWdM 

RofmraPM 

Shne Dotty 

TdetamMal 

Tonqaa 

UM Englnsen 

YTL 


114 

7.92 

302 

299 

9 

135 

< 9 

IL3U 

9® 

9.10 

9® 

950 

447 

112 

4*0 

432 

V 

875 

850 

875 

5 

434 

470 

432 

205 

1.95 

104 

1.95 

152 

07 

150 

1JII 

Sub 

492 

5.15 

496 

32 

31 

32 

31 

4 

3*4 

388 

3*6 

955 

8.10 

9 

8.10 

Mb 

605 

6JS 

6J05 


529 524 578 527 YTL 

94 92J» 9170 9155 

544 551 55850 545 

179 175JD 17750 17850 LOfldOfl 

239 23420 239 23750 

10470 10750 10470 10470 

^ '12 >2“ Att^DdSwi 


MS 374 324 

4 182 3.9ft 380 


940 940 940 

418 421 414J8I 

113 11495 10440 
STB 570 5W 
927 945 908 

1040 W51 1039 


1050 

FT-5E 180:508238 
PiataBi 487W8 

9 JO 9JB 974 

SJ8 

537 

5® 

5® 

832 

8 

8.17 

8.12 

630 

6.13 

6.14 

412 

1.72 

1*7 

170 

1*6 

558 

5J7 

554 

554 

535 

504 

5.16 

SbUS 


Bombay 

BdoJAuto 
Hndud Lwer 
HtadnlPHtai. 
hid Dev BL 
ITC 

MdunaearTei 
Rehincelnd 
SkdeBk Imfia 
StadAothortty 
Tata Eng Loco 

Brussels 


Soma30Mn:3S27.1S 
Pnftoas 3562J7 

624 406 40850 614 

1397 1355 137475 138575 

448 45755 44050 44975 
8375 81 83 83 

445 61950 630 4Z775 

23150 22175 22150 23275 
17175 15150 144 158-75 

22475 21425 218 22250 

10.75 10 1075 1050 

294 28550 290 291 


Helsinki H EX GtMHOltadK: 340957 

Pravfcm: 335757 

EmoA 47 47 47 4470 

HuManoMI 232 230 Ml 233 

Kerotra 51 5®-® 51 StLffl 

teSto 8450 80 8350 &9 

Mata A 27.10 7470 74.90 2470 

Metro B 132 128 128 1305B 

Mctaa-Seito B 48 44 4750 47 

Nede 127 174 124 123 

Nolan A 424 409 421 404 

Octan-YMymae msa 20850 20850 706 

□utohumpu 7370 7250 7370 7170 

UPMKyiwnen IIA50 IIS 11650 11550 

Vabnit 79 7850 7BJ0 79 


Hong Kong 

490 470 490 445 

19.90 1450 1975 1855 
7.10 495 7.05 4S0 


1570 1456 1450 1491 
459 870 484 474 
550 416 447 SM 


BankScdtnd 445 5.® 5^2 577 

Blue Ode 350 X42 X» 352 

BOC Group 955 *3M 975 950 

Boob 9-18 494 907 9.12 

BPB Ind 1» 3J4 3J4 137 

BrftAarosp 1499 1440 1445 1458 


BritAhwoTV 

BG 

Brtt Laud 
Bl* Petal 


Ataonjl 1720 

Bairo hid 4900 

Bfll. IflKTS 

C8R H90 

Cdniyt 

OeibaiieLkn i 1W5 

ESgdTCfJd ®®8 

Efcdroflna 3145 

Forth AG 7450 

Gevuert 1435 

GBL 5440 

Gen Banaue 15375 

krahcttMinh 15575 

Pcftofina 14600 

Pmcarfe 5190 

Royde Beige W02S 

SocCenBdq 3535 

Softray ZJM 

TitKfctd 3125 

UC8 130700 1 


BCL-M tads: 244472 
PMitauK 247271 

1690 1710 1480 

&0S» ms raqn 
99® 10200 9800 
3345 3355 33)0 

19650 20000 19425 
IStO 1895 1890 

8250 8260 8270 

3400 3445 3415 

7540 7610 75SJ 

ISJO BS33 1570 
5400 5470 5590 
1S175 15325 15100 
15125 1S3W 15525 
1449) 14475 14475 
5150 5150 5150 

9820 10000 9820 
3475 3525 3500 

22® 2300 2235 

3100 31IH 3115 
1 128100 128180 139000 


Copenhagen 


Stodttadn: 44457 
Pimm 43MK 


BG flank 
CatebergB 
Codon Fob 
D anfccn 
OenDmkcB4 
aS S ron db fqB 
(VS 1912 B 
FLShidB 
KUi Luflhoww 
NroNadtakB 
Sudan Ba B 
TdeDjnmkB 


490 440 

374 349 

m m 

m 3M 

840 814 

415000 410000 
295000 278000 
175 177 

750 779 

S8S.lt 859 
1072 1050 

414 MU 
417J0 409 

495 477 


485 445 

374 371 

960 965 

370 373 

835 813 

412500 405000 
295000 283000 
175 172 

70S 790 

882 87050 
1070104154 
411 40641 
415 409 JO 
493 478 


Ado 

GaBnyPacffic 

nc«2iSS 

(A miasma 
CNnoLtatt 

anepudne 
DaoHengB 
FlniPacUe 
Hang Lung De* 
Hang Seng Bk 
Henaenoaliw 
HtndenanU 
HKChtaaGa 
HK Elector: 
HKTciacDnua 
HtraevraflHdgs 
HSBCHdgi 

Hdctean Wb 

Hyson Pmr 
JdwranBHdB 
Keny Props 
NewVltartdDev 
Oriental Press 
PeafOiicntd 
SHK Props 
Shun TdcHdgs 
Staa Land Ca 
Sth Chtaa Post 
StdroPucA 
Wharf Hdfp 
Whcetock 


Jakarta 

Astro lid 
Bk Inti tattoo 
Bk Negara 
GotangGam 

InrfowtataitanV 

HUULLIIILIU 

Indetaad 

tadosal 

SanmeroaKM 

SeamGnsft 

TelekomonitaBi 


2050 I960 
4150 40150 

33.90 3240 

22.95 2140 

555 540 

11.95 11.75 

78 75 

480 6JO 
M 3970 
15-OS 1450 
2R70 2a30 
16.45 1570 
3.18 2.10 

205 I9B50 
57.75 56 

1440 1450 
32.68 2150 
14 1195 

30.90 2975 

250 U0 
045 042 

4125 6035 
ZJO 253 
485 4J0 

6JE 5.95 
4330 4280 

16.95 1640 

95D 9.10 


2045 1950 
4180 41.10 
3380 3240 
2255 2240 
545 550 

1180 11.90 
7750 75 

6J0 440 

40.10 3980 
1585 1445 
2855 38.10 
1445 1SA5 
213 208 

204 19950 
54.75 5450 
1655 1455 
21.70 22*0 
14 1X80 
3070 2945 
343 255 

043 043 

47 41 

240 23! 

485 475 

4 685 

4130 43 

14.95 1440 
945 9 JO 


Brtt Steel 141 

Bill Telecom 4.74 

BTR 2.11 

Boranti Castro) 1049 

Burton Gp 150 

Citoie Wtelen 543 

CadlmySdM 442 

CrofldiCanm 485 

ConHdlMon 8.95 

Compos* Gp 787 

Courtoukh 110 

Dtan 445 

Etacboaimpanenis 443 
EMI Group 475 

EnennrGrouP 441 

EderolheO* 5.94 

FeniCotanW 171 


551 543 

278 287 

442 449 

8.18 &36 
451 458 

sjs ua 

451 449 

207 209 

9.92 mm 

148 149 

651 4JB 
444 473 

840 848 

7 782 

280 385 

455 642 

435 4.42 

452 470 

*78 6.40 

STB 590 
157 171 


GoapoMatatap 48183 
PmtaK! 38948 

2025 IBS# 1975 1875 

475 450 475 450 

m 525 600 550 

yp® 7425 7900 7425 
147S 1425 1475 1500 

2450 2225 2308 ms 

8500 8133 85JB 8J35 
4675 44® 4475 4650 

2850 2701 ©10 2475 
2775 2675 2750 2675 


Johannesburg 


ABSA Group 
AngtoAroCooi 
AngtaAmXoro 
AngtoAniGdd 
AngtaAn Ind 
AngtoAM- 
AVMIN 


Frankfurt 

AMBB .J2 
Adfdm 25950 

ABoni 433 70 

AUao 12450 

Bk Bata 38.15 

« BASP 4535 

■ 5S5SSU" 

Bewag fi™ 

BMW ^ 

C KAGOtada tg 

Con ti nental* 62.90 
0 atatarBcw «* 
Dcgww 91 - 50 


DAX-4139J8 
Prattam: 408209 

177 17JJO 17450 
180 29950 25550 
'50 43370 47950 
L75 12450 12170 
38 38 » 

L85 45 &S.I0 

i.9S 82 JO 797S 
LSD 11050 10750 
1.25 4450 46.90 
'JO 77 JO 79 
13 4105 42.90 
418 1418 U10 

145 16450 147 

L20 4250 4150 
180 137 17190 

140 9150 85 




Geoan 
GFSA 
bm«talHdg] 
tagweCoai 
Hot 
M ania tad 
Liberty Hdgs 
LflWlyUte 
LAUtoSM 
Mkwa 
Naropak 
HtaCOf 
RhJidnflGp 

Wcne n rad 


Pmlaai: 629481 

80 27.90 27.90 
38 240 250 

98 KS 202.40 
74 1 75 lO 

16 117 1 IB 

58 75 7550 

10 658 450 
44 4140 4455 
40 2050 20.75 

07 103 10160 

33 3110 33 

20 41 JO 4150 
60 7 JO 7J5 

63 44 4520 

20 5850 59.70 

30 1130 1190 

08 7.11 2.14 

80 SQJO 5210 

31 331 313 

20 12180 122 
16 1430 1650 
10 B6J0 86 
70 1580 1590 
05 106J0 10630 
70 37.70 3730 
55 5550 5670 


GeflT tedded 1078 mi5 1078 1013 

GEC 486 194 4 351 

GKN 1365 1255 1141 1121 

GtaroOMooroe 1190 1U1 13*5 1146 

GronadaGp ,856 BJ9 855 8J8 

GmdMri S^S 5J9 5J4 556 

GH£ 117 UK 113 111 

GicendtaGp 418 4 405 4 

GdMm 551 538 5*5 558 

GU5 7.19 487 7JU 486 

Han 785 7*0 780 7*0 

HSUHUgs 14*9 153d 1597 1530 

la 095 857 8.93 8*7 

taariTotaoro 4 350 i«t 190 

NngMier - 859 044 850 8J3 

Lodbroitt 285 281 283 283 

Land Sec 959 970 989 974 

Unao 275 2*4 273 2*4 

LegdGenIGqi 533 5.10 5.18 5.13 

UWdsT5BGp 733 787 733 7.13 

Lunnlkrty 1.91 189 l.TO 1-90 

MdfcsSpeaar 6J5 632 631 633 

MEPC 553 5J5 SJZ 5.54 

Macwy Asset 1675 14*5 14*9 1474 

National Grid 105 258 3 3 

Natl Power 199 571 587 5.74 

NaMtad 935 9.11 937 .985 

Nad 7J1 733 7.40 739 

Nanridi Unton 198 1*7 188 169 

Orange 258 285 253 153 

PM) 673 635 673 6*2 

Peanwn 839 815 832 017 

PBdndon 136 133 135 13S 

PowoCen m 775 7.94 7.78 

Pna »4 cr Fame* 420 413 419 419 

PiUdesriW 7.10 682 7.04 479 

RdBnKkGp 107® ID3S WiM 10J4 

Rank Group 150 3*4 145 3JS 

Htckffl Colin 9*0 Off 95$ 854 

Redlond 144 3J1 3JS 3J2 

Reed Ml 632 011 430 43S 

RentoUtaBU 2*8 2J6 257' 2.48 

ReutenHdgs 7.19 085 7.10 4J1 

Rea 2.92 284 28B 287 

RTZiM 7J3 738 7,41 J3I 

RMC Group 9 JO 9 934 934 

Rata Ram 245 2JI Iffl W1 

Rural BkScd 737 490 788 690 

Rural &5unAI US 586 555 585 

Safeway 335 337 131 127 

Sansbury 5.15 583 108 584 

Sdiuden 19 18J3 1876 1142 


Madrid 

Acwtooc 

ACESA 

A guro Ba rodon 

Araentarta 

B6V 

Banesto 

Banttrier 

Ben Centro Hkp 

Boa Rroutar 

Boo Santander 

CEPSA 

Conttoonte 

FEC5A 

GasNotani 

Iberdrola 

Ptjcn 

Oanuil 

IWBM 

SevOanaBK 
Tidiaaitora 
Tetefentat 
Union Fenosa 
ValencCamari 


Manila 

Ayala 

Ayata Larvl 
BkPtOpIri 
CSP Hangs 
Manta ElecA 
Metro Bank 
Petal 
PQBank 
PM Lung DW 
San Miguel B 
SM Prime Hdg 


Mexico 

AHaA _ 
BanaodB 
Cenex CPO 
QfroC 

EmpMadoma 

GpaQnoAl 

GpaFBaaner 

GjraRn Intro no 

KradiOarkMex 

TdeotsaCPO 

TeiMexL 


Beta tadno 429.92 
7RAK11U7' 

4550 24600 24490 
2015 2045 2825 
6300 *380 4330 

9340 9490 9330 
4590 4470 4590 
1420 1425 1420 
8400 8SS3) &S9 
3085 3110 3075 
9460 9840 9450 
4595 4S10 im 
4675 4680 4665 
2965 2W5 2945 
7750 7810 7650 

2840 2870 2845 

1345 1355 1345 
7310 7500 7M) 

1995 2020 1900 
2405 2405 2405 

6440 6520 4440 

146SJ 1460 1440 

1340 11590 11381 
4S>5 4595 4&@ 

1495 1510 1500 

2800 2833 2825 


PSEtate 180471 
PlWitow 1799*9 

1350 1375 1375 
TITS 1450 1375 
86 875SI B7J0 
288 2-14 220 

7S 75 7650 
25750 S40 26750 

335 3J5 3J5 

134 136 135 

845 855 m 

45 4550 4550 
550 550 5*0 


Babe index: ST4S87 
Pimmhi51278i 
4170 6280 6380 
208S 2175 1956 
3675 3635 36*0 
1670 .1650 1470 

xjs Smai Mm 

5570 5570 5480 
370 373 119 

3275 3130 3270 
3758 38.10 3770 
14180 1*380 14080 
2150 2155 21.45 


Ara-UAP 

BancokE 

BK 

BNP 

ConodPta 

Qunriour 

Csiiai 

OF 

Cetotam 

OxtstanDior 

GrdTAgrtb* 

Donone 

DeiOa Fran 

BMqutataB 

EridantaBS 

Emwtoiey . 

EwtamnJ 

FronoeTttacan 

fen. Earn 

Haros 

total 

Lafarge 

Levund 

HEsaT 

LVMH 

MktataB 

Paribus A 

Pernod RJcard 

Posgooiai 

PtaaafrPiM 

Promodee 

RomM 

IM 

Rh-PtatancA 

Sort 

Sdwekltr 

SEB 

SGSTbomon 

5ieGenento 

Sododra 

SIGabrin 

5DnzKUJ 

Suez Lyon Eon 


4® 44180 M&m 438*0 MaOoB 
919 910 913 907 Nontarafan 

448 423JQ 437 425 PtounVUplaiin 

302 795M 300 29280 Sandwfcr 

1037 1022 1022 KQ7 SamtaB 
3124 3040 3040 3190 3CA B 

340 33110 33440 33350 S-E Baton A 
37950 36050 374 35880 5ftondta Fob 

705 778 781 774 StamfcaB 

442 452 SFB 

Ilia nu FdeieningnB 

1000 993 994 992 Store A 

445 6» 645 SeHoKfeta A 

470 £71 IMvoB 


445 442 

110 1IW 


1110 lllff 
1000 993 

666 645 

494 <44 

904 960 

7*0 7 JO 
445 475 

310 21470 
807 799 

41570 405*0 
3U5 490 

39270 387.10 
1215 1107 
2394 2344 
TWO 1051 
1750 332 

44750 443 

332 819.10 
712 7CT 
3240 3160 
2325 2300 
17950 17350 
1841 1761 

275 289.10 
599 584 

34250 mio 
839 825 

39780 371 

815 803 

3330 3224 
830 812 

1585 1585 
449 657 

752 
175 14870 


96 9080 
434 411 


973 

1JM 750 — — — 

Syd“» 

S30 795 . 

41050 4001 Amcor 
JW 706 AMBWng 
38750 38553 BHP 

2354 2337 jljtaMesInd. 

1053 1057 CM _ 

33550 327 JO CC tennV 
44470 44280 G otacMyor 
332 31780 

701 699 CSW 

3168 3141 FurtnBto 
2315 2297 Gaodmnnd 
177 173.10 [dtertola 
1761 T7V8 

27020 269 MlMHda 

394 508 NolAMlBonk 

336.10 33280 NaiMrtaalHdo 
825 825 NemGaip' 

39150 388 PndBc Dunlop 

812 803 Pioneer Inti 

3330 3248 Pita Broadcnsl 
822 m golkta 

•2 IS 1ST"** 

ns 757 WestagcBMii 


JH 
7185 9250 
42150 40470 


222 217 22150 217 

270 2B 240 2*050 
2SH 272 280 271 

243 238 242 237 

193 184 189 184 

129 172 174 174 

95 92 9450 9250 

412 397 406 39650 

330 329 329.90 330 

ISMS! 18250 185 18250 

MS 200 3B4 20150 

101 9850 TOT TO 
294 280 291 281 

223 219 221 219 


I Ortoatoc 255250 
Platans 2SOJO 


482 471 

MJ7 1055 
14*0 14.14 
175 359 

28.15 2755 

17.16 1455 
Tl.W 1BJS 

774 754 
631 422 

457 480 

%77 MT 
136 -2JO 
115B 11 

3179 3050 
1.14 1.11 

2059 2020 
2J4 137 

B.1B 753 
378 3.17 

350 385 

885 8*0 

1658 16JO 
975 9.10 
5.19 480 

9 JO 974 
TU» 1095 
AN 483 


477 476 
1076 1075 
1475 14*1 
374 3J5 

2755 28.17 
17 17.10 
1184 IT 
JJSI 
670 472 

AN 455 
273 278 
235 256 

1188 11.W 
31 3182 

1.15 1.15 
2045 2b,ii 
2J4 2J2 

015 773 

374 3.16 

35® 387 

071 ON. 
1675 1458 
P.13 978 

45S 5.U 
953 954 

1056 1186 
453 477 


Tbw Ikib l«Ux 

Jan. 1, 1932-100 Low 

World Indox 1712 

He sdo md Index— 

Aob/PadBc 99R 

Europe 192.1l 

N.Amorica 218.3 

S. America 152-0 

kKkratrial Intato 
Capital goods 215R 

Consumer goods 2084? 

Energy 1843 

Finance 122-41 

MeceSaneoug 157.41 

Raw Materials 172 LU 

Ssrvfcs . 174.61 

UfflBfas ' 166.1! 


Prices aad 2.00 PM New York Horn. 

Change . %chnnge ymrtodto ; ft 
%dw>gn 

+ 055 +032 +16.13 . 


-1-3* 

-19.77 

+0.89 

+ 19.17 

+ 023 

+ 3423 

+ 029 

+ 3226 

— 02* 

+ 2620 

+ 028 

+ 2922 

— 022 

+ 1326 

+ 027 

+ 5.15 

+ 0.65 

-2.70 

+.0.10 

— 122 

+ 0.61 

+ 2720 

+ 1M 

+ 1522 


MfcUlFMM 

MMTnHf 

MoretaMfg 

NEC 


Sio Paulo — SSSBSS 


IQ 

taoriTotaoro 


MEPC 
Mercury to 
HtdtamriGrii 
Non Power 
NnlWex) 


PBiintoi 

PowoCen 


PnxtonJW 7.10 

RaOtoKkGp IOlT® 

Row Group 350 

BecMJCotal 9*0 

Redlond 144 

ReedM 672 

RentoUMBU 2*8 

ReutenHdgs 7.19 

Ream 192 

RTZiM 7J3 

RMC Soup 9 JO 

Rata Ram 145 

Raw) Bk Sad 777 

RomI&SmAI WE 

Safeway 135 

Sattnbury 5.15 

Sdioden 19 


895 

857 

8.93 

4 

350 

198 

859 

8*4 

850 

70S 

251 

253 

959 

970 

959 

275 

2*1 

273 

523 

5.10 

5.18 

753 

757 

753 

1.91 

159 

1.90 

6*5 

422 

431 

553 

5*5 

552 

1475 

16*5 

16*9 

105 

258 

3 

5.99 

571 

557 

955 

9.11 

957 

7*1 

753 

7® 

198 

1*7 

358 

258 

2*5 

253 

6J3 

425 

473 

859 

8.15 

852 

156 

153 

US 

m 

775 

7.94 

420 

413 

419 

7.10 

652 

7.04 


Alena Ante 

BcaCaounU 

Bar Fktounan 

Bco dl Romo 

Bonedon 

OeAtoHoBona 

Edteon 

EN1 

Rat 

Genenril Auric 

IMJ 

INA 


ScolN e n miie 7 J 5 

Scot Power 575 

Sccurtcor 186 

Severn Trert 10 

SMfTmnpR 474 


SariMtae 4 M 

Smiths Ind ISO 

SOwnPcc 480 

Stogeamdi 7J8 

Staid Charier 7*2 

Tah&Lyte 484 

Tesco 512 

Thrones Water 9 jQ 

31 Group 120 

TIGflXto 125 

Tontans 115 

Unilever 457 

UM Amro nee S75 

UMNcws 7*4 


774 755 770 

482 5 490 

179 181 170 

955 9*8 9*2 

4.13 470 4.19 


1.7S 

1J1 

1J4 

1.72 

446 

601 

615 

653 

ISO 

8.19 

#50 

#.19 

480 

452 

400 

4*7 

75 K 

7*7 

754 

7*1 

m 

750 

7® 

7.12 

454 

480 

483 

452 

5.17 

5 

509 

SOI 

9® 

956 

950 

Ml 

,<L» 

5.10 

114 

508 

12S 

496 

116 

497 

115 

3.01 

109 

356 

492 

478 

487 

478 

555 

5l» 

5.20 

5.20 

7*4 

754 

7*4 

756 


Mediobanca 

Monied non 

OOreffl 

Pnrawlor 

PM 

RAS 

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INTERNATIONAL HERALD TRIBUNE. FRIDAY, DECEMBER 5. 1997 


PAGE 19 


tmt 2 


THE INTERMARKET 









HOLIDAYS 






^ +44 171 420 


RESIDENTIAL REAL ESTATE 


THREE CHARMING 
PARISIAN HOTELS 
EACH WITH A COURTYARD 

* HOTEL DE L'ABBAYE 







10, rue Cassette A 

75006 Paris ■ 

Tel.: +33(0) 1 45.4^38.11 
Cable Aboiel / 

Fax: +33(0) 1 45.4WI7.86 1 

An 18th century towhouse between 
courtyard ana garden offwing a refined 
mixture ot traditon and modern canton 
m the Heart ot the fashionable Left Ban* 
quarter. 44 rooms, 4 ol which are suites 
with private terraces. 

SELECT HOTEL ^ 

ipLdelaSortmnne 
75005 Paris 

TeL: +33(0} 14634.14*0* 

Fax: +33(0) 1 4634.51.78 
&+nad detect Hrtat0wanadooir 
Contemporary elegance in the heart 
ol the Latin Quarter 67 rooms + 1 
duplex suite ottering the perfect mix 
ol modem comfort and Okl World 
charm. The interior garden and 
fountains add a soothing touch to 
this special hotel 

UNION HOTEL ETOELE 

Sbffisr* Mb 

Tel: +33(0) 1 45.53.14.95 ^W2»> 
Tlx: 611394F iJftQaLl 

Fax: +33(0)1 47559479 ~ 

42 targe, pretty rooms and 
residential apartments overlooking a 
private garden on a small, calm 
street near Elotte. The perfect spot 
for business, entertainment and 
shopping. Private bar. Excellent 
service. 


.M $i‘gi ■ 

-mfj ir/nm 

f] |y 3, reede rOdeon5&: 
'JWa Park 

Sivppitifi nut <>/ v>ur ht>ld. on the kfi then 's the Tlhittn* tie 
IXhliirti. tlv /Ji.wmlmury g,tnhns aruL Just behind 
Mitniptinuissr and it's cujci. On the right, tbctv's 
StrinMii -n//. ifi/i/rtv t'res. the riivr Seine, the net eOnny 
Museum, tin- hnitrv and a Jew steps further. Bvaubaarg... 
The (Menu Uotei. 35 fhartiring rooms in the heart if Ports. 

Odeon Hotel 

Tel: + 33 (0)1 43 25 90 67 
Fax.- + 33 (0) 1 43 25 55 98 



• *TTu S 


rt&FEL RESlttWCZ 
•J&&8U M "” 

Between the Seine and the Pantheon 
in the heart of The Latin quarter; a stones 
throw horn the Luxembourg park. 

Channjng iwm ami apartments 
(for up diapers.) giving antot sju-iff, 
equipped with kitchenette 
(idvvtl for kwg stays). 


uOrn Roman uof niv 


Preferential rates for long stmts. 

Figures in the ‘'Charming S mall H otel GuM*~ 
50, tdesBeiunlins,75TO Paris 
Id: ++33® 1 44 « 31 fttfu +3HD 1 46 » 93 22 
M. RER St Mkhel Notit Dames - Parking nearby 


☆ ☆☆ 


* FRENCH ALPS 

^ Courchevel 1650 * SAVOIE 

fflR HOTEL DU GOLF *★* 

**5 and residences 

js and apartments with balconies. 2 to 8 people. 
Gastronomic restaurant - Bar - Brasserie 
it the bottom of the slopes - Right by ski lifts 
erous formulas - Families/Children and Groups. 

33 (0)1 44 56 30 30 Fax: +33 (0)1 42 66 12 20 


* SKI HOLIDAYS 


NIGHTLIFE 


DISCOUNT TRAVEL 




AIRPORT SERVICES 


BREATHTAKING VIEW OF NEW YORK, . 
20 ft. glass writ Cereal Part & Cty. 
Luaviriutiy tartshad: piano, lax,- cable. 
For business. mustaan or honeymoon 
couple. 1 Mock to Carnegie Ha, 2 to 
LeOerman, 5 to Lincoln Center, Mosa- 
ums, Hietets. WoeUf. UortUy, 3 day 
weekends (mtataun) or tong term. 
Tet 718-548-8388, Fez 7183BU1C 


BaW 0 W »* - -j- 

DSu a DfSouSStS 


MANHATTAN LODGINGS. NYC. Start 
- Mat luxury apadneois, superior B 6 B 
registry. many locations. 
Tet 212-475-2090 Far 212477-0420. 
Mmjaarhtaanicdginguon> 


Lebanon 


Horn AL BUSTAN- East of Betal 
5 star detoxe. Booted bcadon, secu- 
rity. cordon, line cuisine, conventions, 
tjoslness services. sateite TV. 18 min 
transfer from airport free. l/TELL Far 
(981) +872439 / 033) (0)1-4720077 


ST. BARTHELEMY, F.WX. OVER 200 
PRIVATE VACATION VILLAS - beacJv 
Iron lo Mfckfe trtfi poofe. Otr agents 
hem inspectad al vias personally. Frit 
reservations on SL Baris, St Malta, An- 
oih, Barbados. Matos. the Wgn fcs- 
&*_ Cal WIUCOflfeiBARTH - U S. 
f 401)84 9-8012/t8X 847-6290. from 
FRANCE 05 90 16 20 - ENGIAIO 0 
-80MM318 


CHRISTMAS IN PARIS, center dy. 
75002 WbraferU dkgaba. t* equipped, 
top loots. Ire ptace, vast hW 2 bed- 
rooms, 2 bates. 22 DeH Jem. F12K. or 
pro TB&. Fax t33 fifll 42 96 18 81 


RES. REAL ESTATE 


Real Estate 
for Sale 


Australia 


GOli) COAST, (QUEENSLAND 
Stoat) roartn acreage (45.000 sqmj 
nun spring, rein Brest, anseme wee. 
45 nntes from Bnradtaarti 
GREAT LONG TERM INVESTMENT 
Price A$ 300 OT. Cash or arc* aaxp- 
atfe. Coread- ++4i 22 784 3837 (fax; re 
t+41 22 784 1378 tftael 
E+nai coroedGphmwto com 


Bahamas 


BAHAMAS-SPECTACULAR Ybttrfoot 
Estates from SIM. mwfigcftnshe^an. 
Tet 242-322-1041. Fax. 242-32S5642. 
Era A dwtieebaharauiatls. 


Caribbean 


BEOUIA. Gut of the CaitobwM. lags 
stone house on sea. 3 s pacc u s bed- 
rooms. 3 baths. Pool $4754)00 USA 
Tet 516-748-3074 Fac 516-749-1029. 


French Alps 


' NERCEL, BELVEDERE, DUPLEX apart- 
mao. 105 sqm, 4 double Deacons, 2 
bassoons, opao fce, targe tatawy. ga- 
rage. storage, pool on dope, amah 
view. FF7..350.0C0 Tet +31f543Q7894 


VAL OTSERE. cotter. 3flwn ftB. sntfl. 
fripbee. balcony, odsten deg v iew. 
Ceflarigwge. Fl.lM. Far (0)47*95640 


French Provinces 


CHATEAUS PROVENCE 

16 km from Avignon, TGV, Apart 
Poetic 198i cenL bit S stone rasdence 
of SO sqjxl. 3 streSng reception rears, 
Rxarytiffira. 3 bedrooms «4h balconies. 

Adprtng mas d 350 sqjn «M> 
it reoras parrialy resttfEi 2 debs 
eccages. dweed pcoL «0 H)m. bam 
used as reuse room. Park vetceouy 
od trees. 6 la retards. FF45COOT 
Tit ^33 (0)4 90* 7510 FNx 90S MB 


French Provinces 


PROVENCE - LUBERON 
TYPICAL STOW COUNTRY HOUSE 
350 sq.ro. • Beaufluly renwated, 
tege, singr tong, taiaces onto 
3bedroone vdh ervstns btfitnns. 
study. Mxaiy. saxfo tar caretaker. paDo. 
pool hose. iB x 8U port od 1 acre 
ba ttf j npd tonten. Gaooe. Quire but 
net issued. Brereh tato g nea on 
msfieval vflaga Perfect cental. X km 
Aaron. 45 nh Iteseae airport 
owmrdl Far +33(5)4 90 72 48 0B 


ARE jm KEAUNG ol a Ibgnaceet 
ESTATE t& ponds at CAMARGUE 
sotfte Stan Be south of Fraree. Sctt>- 
a®d on the nsml part border and arty 
3 kns boa Les Sasffis Uaras de la 

Met Far +33 W <5 67 14 <6 CreraU 
ireenw N^presocBbisseiinaft) 


PBQQORD LUXURY MANOR HOUSE 
075 sqm. _- 14 w o es - Mjladgaa 
Mdoie & BrepMca, modern cansaicon 
S snlon. dass tangs, perfect 
sonttoa Pod. Qw Unspoied «op 
w NoBmg opposue. W*ft * ta pert A 
16 ha fores al around. US$1 -500,000. 
Fax oner 33 10)5 S3 40 63 92 


GENEVA AREA (FRANCE). lOtonGe- 
nwa dmrtOMV 20 ate b aiport Luuy 
stone bob bouse, 500 sqA, 5 bed- 
rooms eoate brehs. pool page, 
but 55J XC sea S1.7U Paper Fa t 
+33PB4SJB27B7 Tel 433W4S09S27E9 


PROVENCE: AH Mods of properties. 
Please ask for Mrs Wagner. Agence 
Auqucr. M421 0 St Oder. Tet +33 
SHjt 90fi607S3Fsr((Q4 90 Q612 35 


PROVENCE - AUPILES - UffiffiON - 
Free brochOE LE TUG DM) Preate. 
36-16 LE TIC. - 

Tet +33 (UK 90 II 84 B4 


SOUTHEAST - DROtC Sptaxfid proper- 
aes anaritaie lor sate n baadW couo- 
eysids of Drama As* lor dconotaicn 
TellFax +33 [OK 75 08 32 * 


French Riviera 


VILLA ON FRENCH RWKRA, (VAR) 
160 mm, 1OT sqm part, vie* over 
sea. OKs beaches. 4 bedrooms. Out- 
biA&qs. FF), 490, £500. TH: (neattne) 
♦33 (OK 9* 94 79 34 


900 SQUARE METBtS OF LUXURY AND TASTE BFTWSN n 1996. 9Usqjn.vflla relocated on 7 stremmas of 

THE SKY AM) THE SEA, ON THE ISLAND OF CRETE, GREECE *"?■“ nas «“'« the Aegeansea ^omptete 

^ wrih throe bedroww. lour gueslfooms. spacious ftwigroons. 

a renting room. ofto.Julyequq>pedtaireien(stformal table 
and chars tor reghf), game rooms, muse room, srpiash court. 
Sve bathrooins, JaaczL fm> firepUias, separate guartivs for 
the sLafl, iwo+ar garage, samning pod. hdqrondenl water 
supply trom a pmate wal, toc% U> buU a tentE coul. Price : 
USD 1 J00.000. For nhrmabon contact : Tel . : (003061) 
841.101. Fax: (00301) 6842.485. 



.<sn£" Red Estate auction sale In Palais de Justice of Paris on 
Thursday December 18, 1937 at £30 pm. M ONE LOT 

^^HKERIlb^REAL ESTATE 
PAMS 1st 

A Step from PLACE DE LA CONCORDE 

223 me de RlvnQ, Inckuftsy 2 apartments mezzanine & 1st Root, toget he r 
with commercial premises os gmandfloor, TOTALLING a UNIQUE PROP- 
ERTY of abort 297 sqm. bnmecBrte avaBebBHy for occupancy or rentaL 

Starting price FF 3,000,000 

Contact: SCP Bernard de SARIAC - Alain IAUNEAU, 

42 . nr. Geocee V hi Paris. Tet +33 ( 0)1 47 20 82 38 . Al the record 
office of Tribunal de Grande Instance of Paris. 

Visits do site Friday December 12 . 1997 from boob tffi 2.-00 pm 
and Saturday December 13 . 1997 from 10:00 am Ufl noon. 


French Riviera 



ANTIBES, bademg see. Sdi floor, out- 
rearefng view. Wing + 2 bedooms. part- 
ing. rat Tet +33 fOTI <5 72 14 06 


FRENCH RIVIERA 


* BEAIAJEU : Provered ttyte, see view 
al berate pdoe 

* YLLBflANCHE ssaow. modem via 
tarekemad genten, pool FF7.4 M. 

* raiEHtWOt bntasfc seerts*. 
roagnicuM vie, lerrooss, gnden. 
pod FP9 IL 

CAP FERRAT: wateredge, mwfiarra 
near vita, privtfa jstty. FFBJ M. 

^H^HAUSSMANN Group 
TEL +33 (B) 4 92 DO 49 49 
FAX +33(0)4 93 894088 


ST PAUL DE VENCE. property on 1 lev- 
re. 4 bedrooms, 4+ar hasemart, 3.700 
sqjn. park, pool, qrteL FF2.950JXX). 
LV.C. TeVFax 433 (DK 93 20 22 44 


ST. JEAN CAP FERRAT. owner seSs 
tee vies vfle. 6 bereoam Depart ISA 
regent Fax 433(0)1 40 70 10 19 


JERUSALEM. German colony, large, 
unique. 3, garden, basemen, parking 
Di Vm» - Stem Tet S72H611BZ7 


JERUSALEM German colony. 4, toa 
ous. specious, parting. Di Verof - Seri 
Tet 872-2-5611 BZ7 


JERUSALEM. Geman colony, unique 
paktause, 4. rieteor. oartsig O Verof 
- Sian Tet 972-2-5611627 


VENICE, 160 SQJL, 19 to ^Brtmert 
wfii pden, arazing near on the Basin 
of SI MarK. USS 75CL000. Any other 
s He A price avabble. Tel. 39 333 
2715859 


Jamaca 


JAMAICA, 2-ST0RY HOUSE, 3 bed- 
rooms. 2 baths. Z recepfion roons. Sn- 
ug room etc. Beaortu tal vn orer- 
boteng Uortego Bay. Price £135.000. 
For detafe contact Vidor Shirley Tab 
t876 S2 2730 Fa 4876 952 3588. 


London 


HOMESEARCH LONDON Let us 
search tor you We find homes J ftas 
lo boy and rent and provide etuporals 
letocaion senrtras For ux&rtdials 
and companies. Tel: t44 171 B38 
1066 Fu 4 44 171 B38 1077 
hapJwswta mosra rclicoiiiiitani 


Paris and Suburbs 


17fh- CHARMING DUPLEX 

1930 bukfng. 68) floor, etevaor, 
116 sqjn, open vies, nice taring, 
t room, surtr, tenace, HIGH CLASS. 
FF2 450 000. Tab 33(0)1 55 GO 93 14 


BID DE MOWmOHEKCY 

Presb$ous Bre : 7 room. 393 svn., 
batony A mace. Sh to. exceptaset 
vsw. paring end &8 room 
Tat 433 mi 40 06 94 30 


-tOh, ELEGANT 195 SQJL ETOILE/ 
Victor Hugo, class bufktag. 5 rooms. 
Vk». FF4m Tab +33 (0)1 <338 4064. 


Switzerland 


Attaokn poperies, omriookim view 
i to 5 bedroom, from SFr 200OT 
REVACSA. 

52, Mortbrttant CH-1211 GEWVA 2 
Tel 4122-734 15 40 Frt 734 12 20 


Please contact CF IHOBBERE 
COWAGWFONOEKSA. 

Tal *41 26 925 9273 Fax 44126 925 5275 
E-mafl: i ft micMtoDbkiewvuh 


INTERLAKEN: WATCWRONT HOTEL 
rm possite to biw by torarignevs Jet 
441 79 421 3636, f» +4t 1 261 8890 


Paris and Suburbs 


SAXON wn 

EXCEPTIONAL APARTWOfTS 
QUA] rfOftSAY: 6 rooms 4 parting* 
AVENUE MONTAIGNE: 2 rooms 
Td (0)1 46 37 40 88 Fa (0)1 47454228 


DEAL FOR EXECUTIVE 6 FAMILY, 
Napoleon IB 9+oom manaon cert 
guest hoiBS, vte te iorert, 50mn Paris 
2OT sql. rart cordton, ahe^lpped. 
4 teckooms, 3 fireplaces. H2 acre, nr 
sctaoVstaps. Qutt !»*- S600.CQ0 Tet 
433(5)1 34 88 36 12 Fa 34 06 36 1.3 


CHEWCVIBIES, east (tons. KMitaoe. 
htfi dass tang; Wad area, nritandng 
riw over Parts 1,5(0 sum tandsoped 
part. 450 sq.nv. posswe extentron ol 
900 sq.m, taring space 4 commercial 
premises Excellenl deaf: FF45 M. 
Omx *33 mi 45763597 Far 4578W02 


8th - NEAR CHAMPS ELYSEES. In 
modem buSdirtg, retting in front, on 
garden, very sunny. large 45 sqjn. 
studio plus TO eq.m. terrace, parting. 
Tet AGENCE CHAMPS &YS&S 433 
10)1 4225 3225. Fat *33 (0)1 4563 3709 


TROCADERO, rtpte. tfctate he^l tar- 
tig room. fTBOftww, 2 todroans. My 
equipped kdchen, bathroom, shower 
room. Oak floors, fireplace. 106 sqxn. 
TF2OTOT Tel t33 (0)1 44 26 40 65 
answemg machte Fax 44 26 43 76 


PARIS 7th - OUAI 17 ORSAY. Apart- 
mert with v«w over Seine Living 4 2 
bedrooms, bathroom, utchen. balcony, 
parting. FF4.40COT Any rtho see and 
price evalabie lot sale or ronL G.MA. 
+33 (Oil 45 55 75 55 


RUEIL MALMAJSON, near refi. ffigh 
bass estate. 390 sq.m. H0U£ 4 togs 
basement, 5 bedroons. Hereed pool 
High dess fittings, superb garden. FF 
6JU. Fax owner +33 (0)1 42 eo 33 96. 


VAUCRESSONGOLF - PARIS. Beairitd 
1B0 sqm aparlmenL double taring, 
3 or 4 bedrooms. 2 garages. Near al 
commodities, American 8 Geman 
schools. Tet 433 (0)1 44 29 07 07 


MARAS - owner safe; darning duplex. 
4th 6 5th floor, tit, 3 bedrooms, 2 btes. 
2 res. fufly egroped Idctan. glass rod 
Tel t33 (0)6 60 46 7B 45 or Mai 8 PU 
♦33 (Ojt C 7101 <8. FF 255fl,«» 


ST GERMAIN DES PRES. OWNER. 
Apareneretaaraoer. hug wifi fireplace, 
bedroom. 2 WCs. smel skrdy, mazarine 
conewge. Tet am <33 (0)1 4537 0206. 


BUY OR RENT Ngh dass apartments. 
Ted me whal you want. I nil do th e 
research tor you Tet 433 (0)1 39657698 


8th, AVENUE MONTAIGNE, 86 sq.m. 

S it dass Thed a lore". FF4.300.000. 
THE (0)1 45 44 44 45 




USA General 


S0UTHMEST COLORADO - Ten Maun- 
late Aoes, axtodeo by US Forest, 

30 tides soidti ol Tafitnde SM Area. 
Stan Foar (97Q882-2494 USA. 


USA Residential 


NYOGrode SqueraB Room Pmex Coop 

Great Vfefl Matches Apartment 

Fabulous river views horn Master 
Bedroom, Formal Dtatag Room i Urtng 
Room wMi Wood Burning Fkepiaca. 
Beautiful renovation, marble lover, 2nd 
BeckoomfbareJ testy, chefs ktchea A 
3 bates. 2 maxis' rooms. Asks 91.5S5M. 
T. Covington 212-85 1-7024 
8 Wayne 212-891-7107 


NY054 Sttd.25 WM 2 Rooms 

SWWV PIED-A-TERRE 
Across tram Musarm ol Modem Ait 
gardoi Stodro with open view. Hoar 
business, rastarrarts, IheaBB, shopping. 
Pika SBSjOOO: Urirteranca S66B. 
Cahem Dugin 212891-7056 

DOUGLAS E11MAN 


FORT LAUDERDALE. FLORIDA 
EXCLUSIVE WATERFRONT ESTATE 
alii 7®t toal d aaler troriagei lOOtoot 
yadris a ccorrmodried. home Ibb afl tee 
emeniiies. Just reduced to 
USS6.089.000 Cal Maty Buxi. egert 
REMAX Parmere 954-3965977 USA or 
E+net iriwcdOteeneUtel 


TEAR KEY WEST, FL Ocean front 
estae fas tare priviega d outing fs 
lately private sandy beach utti coconut 
patais. Ajun^e paradise vrih S2 x 20 a 
pool SIJftL Wtjr//owur2*proconV 
ketaa; Tet 3D62961S07 USA. 


Real Estate Time Sharing 


STRATFORD-UPON-AVON Tknedwe. 
Mi weeks 26/27/28. 3 bertm apteVnerx 
certra of Stated. 2 yts ott RQ Gold 
Crown, Wortiwito exchange, Superbly 
furnished. £12.000 for all 3 «wte. 
F«c 444 1 772 774 779 


Real Estate 
for Rent 


Austria 


25 KM NW OF VIENNA. 120 sqm. 
house, 2 bertuoms, partly furnished, 650 
sqm yard ryJaaraa eaqr cormnse to 
Vienna. ATS 10,OQQfn» 4 iratatenanoe. 
1-2 year bese, no toe. Conan 443-1- 
5246288. fax 52462B9 


Germany 


BERUN, KUDAMM, exeefes location. 
73 sqm. spa rifflew, 2 bedrooms, botk 
tedwi, Me on counyanf wlh gsdoi 
DU 54Qfuedi. 4 depost 449 303126472 


Holland 


RENTHOUSE MTERNAT10NAL 
No linfUtand 

lor (semi) furnished tausefi/fltats. 

Tet 31-206448751 Fax 31-206465909 
mural 1921, 1063 Am Amsterdam 


HOUEHNDERS WTL HerengracM 141 
1015 BH Amstenton Tal +31318392252 
Rax 6392262 E- m ailuoonsotadtifipjl 


JERUSALEM. Gentian Colony. Unique 
penthouse, 3. spacious, waw, elevator, 
parting. Di Vemii - Stani Tel: 
972-2-5611627 


London 


SPACIOUS stirfo, South Kensington, 
ceriialy locssad, ckse to sriway, sfeps, 
hdf furnished, private marc®, pato. 
separate bedroom area, hriy equipped 
kflcteeu, access to private gardens £250 
pm week. AvstoUe knrwdcaeiy Tet 
444 171 244 8872 01 (0)6 11 47 36 84 


FRANCE 

Eze-village 

Superb villa with character. 

View on Monaco and on 
Cap Villefranche. 10 000 
sqm, swimming-pool, 4 bed- 
rooms, 3 bathrooms, garage 
and cottage adjacent. 

MUST BE SEEN 
Tel: OO 32 2 511 04 03 


Paris Area Furnished 


AGENCE CHAMPS ELYSEES 

afters: 

ON AVENUE CHAMPS ELYSEES: Big 
sturfio, balcony, very sunny: FROM 
14th, METRO ALE51A: BeatahJ tree- 
sane buUtog. 2-3 rooms, bafcony. fire- 


place. parquet vewsuniw F10.000. 
7th, METRO SOLFERflfO: Freestone 
buWng. 5 rooms. 2 baths. FF15.000. 
Sth, NEAR NOTRE DAME; In tountause, 
2 rooms, kitchen, bate, rtdined decora- 
tion: FF 12.000. In smm huBding: 5 
rooms. rfipfeL top floor, 2 bates, batony. 
fireplace, character, parting: F32J300. 

Tel: +33 («1 42 2S 32 25 

Far +33 (Si 45 63 37 U 



Embassy Service 

YOUR REAL ESTATE 
AGENT IN PARIS 
Tel: 433 (0)1 47.2030.05 


5th, BLD ST. MICHEL 

Freestone broking 

125 sqm FURMSHEO 

Ifigh class 

FFSOT + chaiws per merth 
Tat *33 (0)1 &73 51 32 


CAPfTALE ' PARTNERS 
HetapckBd quaNy apartmerts, 
al sizes Paris end sububs. 
Tat 433 Ml 42 68 35 60 
Far 433 (0)1 42 B8 35 61 
We trip yon best! 


16th VICTOR HUGO, modem tariffing, 
perfect conriter. large dubtae taring, 2 
bedrooms, beautfui etterped kfletan, 
F15JOO neL Tet +33^147544144 


SIR, PANTHEON, GORGEOUS 1-bed- 
room tat, op egupmenf. Dec 10 - 
Jan17. USS2JOOO.+33 (0)1 46 34 66 12 


Switzerland 


CORPORATE APARTMENT, finished 
A0O, caver of Geneva, led ride, near 
late and part. 150 sqm. 2 bedrooms, 2 
batfmons, reception, kfcfnn. 2 terraces, 
tohwse parting. SFr. 4OT morthly al 
charges nctoded. Cal 441-22-732 06 95 


GENEVA, LUXURY FURNISHED apart- 
ments. From GUtas to 4 bedrooms. Tet 
441 22 735 6320 Fax 441 22 736 2671 


NYC FURNISHED APARTMENTS. 1 
neek to l year. Great Locations Call 
PaCNqur 212448-9223, Fax 21Z- 
44BG226 E-Mata rthometmOaoLconi 


Real Estate Wanted/Exchange 


TUSCANY, ITALY. BeaufM. private, ru- 
ral. residence waned, 2 mater bedroom 
sides for 2 copies from Lucca to Flor- 
enca to Stoma. 2-3 metis Frit ‘98. Vtow 
in Feb. '98. Contact J Rittnstein in 
New Jersey USA Fsc OT3-99Z-G669 


^ RELAIS & CHATEAUX 

P HOTEL DES NEIGES **** 

► ‘ COURCHEVEL 1850 - FRANCE 

iflv. one of the best hotels in Courchevel 
T 4 I: * 33 (O) 04 79 08 03 77 
Fax: + 33 ( 0 ) 04 79 06 18 70 

http^/www.int eg ra.fr/reialschateaux/Neiges 


1 Lfl TfWtEffflfiltt*** 

B HOTEL tad StoSKd 
xtofts vnareL Vnv 3firac- 

is? 

cf «W»! Clto * 50 

QrMt Holiday ! 

M to tankmen 

: *33 (0) 4 79 00 42 40 

L *33 (Ol < 79004699— 


gee Saturday '* btewnHtfl 

far \n% I nauW^w. Intrroadoiid 
lAAnt. Nuttnir* * Dworttiefc 

To adrrrli*- fonlatt Sarah Kbabuf 
oa +-I-T 1TI 430 0326 
w Ttu. +41 171 120 0338 
A GREAT DW1- llAPPUVS 
AT THE WBMAMg 


ggagwi . 

HA£SJE CLAES 

V *24 ** : “ ; -’ r3r;sv 


PAIOSMh 

CHEZ GANDHI 

Ka mi— n i taH tetapgM fcaaow ft 

ftAteofflumu-ltetototo- 

I*, cndUMcd) *1, » DoupMuu. 
t!01 44 070406.01 43 »«» 


GENERAL 


Announcements 


HrraJb^^cribimc 

ni_waingimnnm> 

SUBSCRIBER CUSTOMER SERYtO: 

FarquB5#Dnscrqsoiesai»idteeda«v- 

eiy a yew newpaper. tee ears d yon 
susaiKtaOfatoUoirtaiigasubscnD- 

uon, ptease cal He toftwng mmbefs. 
EUROPE, IKOLE EAST AID AFRICA: 
TOU. FREE - Austin 0660 8125 Bef- 
duro 03D0 17538 Francs CBOO 437437 
Geamany 0130 8485® Greece 00800 
3312 1506 Italy 167 780040 Luxentam 
0800 2703 Kelheriards 0800 023 5158 
Sweden 020 797C39 Sutoertand OB® 
555757 UK 0600 BB5965 Elsewhere 
(433) 1 41439361 THE AHEHCAS: 
USA (toWreel 1-80M82288* Bsatase 
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PM^ines 695 4946 S'ngaocxa g 
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Moving 


THE PROFESSIONAL MOYERS 

fijftf JOT 

vfematim&l mow? needs 

' Me 433 1 34 75 92 92 
Lym 4® 4 72 39 M 19 
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Legal Services 


DITORCE 1-OAY csrrra) 

Cal cr Fax (714) 96&-BGS5. Wifle: 16787 
Beadr M tl37. Haitington Beech, CA 
32648 LLSA- Maf • wsormGjunMOnr 


DIVORCE H 1 DAY. No travel VHc 
Bn 377. Sutuy, MA 01776 USA. Td: 
978M438387, Fac 97BM43D183. 


TELECOMMUNICATIONS 



New Lower 
International 
Rates! 




Belgium.. 31$ 

France 27$ 

Netherlands.. 230 
Switzerland... 27$ 
UK 17C 


• NO Set Up Fees 

• NO Minimum* 

• NO Deposit 

- instant Activation 

• Six-Second BHting 

• AT&T Quality 

• 24-hour MuttHingual 
Customer Service 
T)» Original 

kail back- 

Tel: 1.206.599.1991 
Fax: 1 .206.599.1981 
Emffik info ekanback.com 
wwwJcalibacfLconi 
417 Second Avenue West 
Seattle. WA 98119 USA 


Import/Export 


A GIVE-AWAY Export Surplus, Ladfc*' 
coctid state, STOCK-LOT 7000 pcs 
Hand beaded & efMxottiet USS2.50 / 
C t F. Dufy fiEenporf to EEC. Enqri- 
res to tax +4(632) 817-8693. 


IHBIAL WATERS. CAWED POODS, 
wines, la quaNy, lowest prices Direct 
buyere S agerrts welcomed woritfmd6, 
Fax LLA 4359 52 300034. 


Business Opportunities 


Aston Corpofstie Trustees 

Aatnr Howe, bwgia, tote ol Man 
Tat 444(0) *4 626591 
Fsc 444 (0) 1624 625126 

London 

Tet 444 ffl 171 233 1302 
FIS +44 P) 1T1 233 1511 

E Mai: sion&flterpris&net 

MWJilton-tiniutonionjBUtk 


EASTERN EUROPE HTERIET flta rel- 
tato. satfi tor ECJUS Wara nwrte 
u artrise products / servtas. fflgti \ 
Fa ETVCA 4359 53 300034. 


onshore cospames. fe fr* b&- 
due v fldtae Tat Uwton <4 1 181 741 
1224 Far 44 181 74B 6558«338 
mns^pteuruata 


KAOLIN /SAND MW£5 AVA AMEbr 
exudaen. Ftanong and itovetopmerx 
wetene. nereaed fe B448 BZ73 


Business Sendees 


YOUR OFFICE IN LONDON 
Bond Street - UaJ. Phone. Fax. Telex 
Tflt 44 171 290 9000 Fax 171 499 7517 



Business Travel 


ItfButan Class Franax Travetas 
WtxkMda Up to 50% ol. No cotjons. 
no rest Unions Imperial Canada Tel: 
1-514-341-7227 Far. 1-514-341-7998. 
e-mail address: lmperiai0login.Kl 
httpAnraJo^nnstenqrertoi 


Financial Services 


FUNDING PROBLEMS? 

tor 

SOLUTIONS 


ranees to secure fining 
vBtts protects: 


EQUITY LOANS 
fEAL ESTATE 

Long term coteaal 
Suxwed Omsrtm 


iCormsstm mad only 
Brotets Ccrocfcsicr 


Financial Services 


PftWEBANX 




Verare Capbl Ftaanrs Avaitale 
torGovemen Projects and 
Governmert Cortanies 
teal are tor sale: 

Lage PitigBOs or Spaaafiy 
Also, Long Term Fiance far 
Large and Sod Cmpartes 
Ho commission L/nU Rxxfad 

REPRESENTATIVE 
Needed to ao as Uasson 
Ptoase reply in Engpsfl 

VENTURE CAPITAL CONSULTANTS 
kreefltset bantam 
16311 Ventura BtwL, Suite 999 
Enctito, Caffintaa S143B USA. 
Fax Nu (818) 905-1696 
T«L (MB) 7BM422 
Hoianrt Sr. tasoc. Ota 0£ Lasted 


Employment 


General Positions Available 


CONSTRUC7TQNMA8DNS. Ctifin, 
rapott and rasa smna - MJ stone hid- 
ings - DC/PA area - Pravtaus job Itiswy 
reqUrad - Groups enogund to apty - 
Ftetcattr u m bbmicb avatobto - 
USA 4KW47-25W Fax 4HW7-Z77B 


Domestic Positions Wanted 


FRENCHMAN, ^xaks Englsh seeks Job 
looking alter sick people, experienced, 
references. quaStod, high avatabllty, 
semus. Tet Paris 433 (D)6 8599 B920 or 
Trioo (0)8 3680 3333 or (0)6 5768 9057. 


Ileralb^Sribune. 

the teURixrs ttuur newsblpeh 


PLANNING TO RUN A CLASSIFIED AD? 


BttOPE 

RANGE WPora, 

U. (01)41 X3 93 85, 

Ftac PI) 41 439370. 

Emci QaJwBMani 

GBMANY. AUSTRIA &CB4TRAL 
HJftOFt ErsMirt. 

U-Ptfl 9712500 
fee ( 369 ) 97125020 . 


Asm/twonc 


HONGKONG: 

TeL: (852) 2922-1 188 
m 61170 HiHX 
Fox (852) 2922-1190. 

5NGAPOQ: 
tL 223 6470. 
fet 325 0842 
tabc 28749. W5W 










































































































































































































































INTERNATIONAL HERALD TRIBUNE. FRIDAY. DECEMBER 5, 1997 


ASIA/PACIFIC 


linger to Shed 6,000 Jobs in Restructuring 


Mfw vexot rest reflecting asset wrjte-downs. Ahmed, who had been president atthe plants to be closed. 

ThiiiSi u . — Singer Co. said Singer's share price was at SI 3.50 since Singer went public in 1991. “Dramatically lowering manu- 
neaii il WQU '^ eliminate a share in late Thursday trading on Chairman James Ting said Mr. factoring costs is clearly the first 

jte ly irf ■ iobs - or 28 percent of the New York Stock Exchange, up Goodman was appointed “because step in revitalizing Singer and mak- 


Ahmed. who had been president 
since Singer went public in 1991 . 
Chairman James Ting said Mr. 


at the plants to be closed. 

“Dramatically lowering manu- 
facturing costs is clearly the first 


rtfo ^ orce * and close an un- 
aisclosed number of plants and re- 
outlets in a move to become 

roore competitive. 

The sewing-machine maker an- 
nounced the job cuts after it named 


$2.1875. 


we are not satisfied with Singer’s 


In his first move as chief executive, performance and we are unhappy 
Mr. Goodman announced that Singer with its share price.*’ 


raore competitive. was eliminating 5,531 jobs in man- Singer said the restructuring pro- 

file sewing-machine maker an- ufecturing and 437 in marketing. gram would reduce its cost base by 
nounced the job cuts after it named He said the company would also $104 million a year when fully ira- 

atephen Goodman as its new chief shift sewing-machine manufacturing plemented within three years. Im- 
exreuhve and president. to lower-cost locations and would proved inventory management is ex- 

Singer, which, is baaed in Hong close excess manufacturing capacity peered to contribute a further $105 
*u>ng, also said it expected to take a and some unprofitable retail outlets, million over the next three years, 
charge of$l 86 million against pretax Mr. Goodman, a former Singer The company also plans to gen- 

saraings in the fourth quarter, with executive who has more recently erate $200 million after taxes that 
most of that going for severance costs worked for Bankers Trust New can be used to pay for the resume- 
^associated with plantclosings and the York Corp.. succeeds Iftikhar turing by selling land and buildings 


Singer said the restructuring pro- 
gram would reduce its cost base by 


million over the next three years. 

The company also plans to gen- 
erate $200 million after taxes that 
can be used to pay for the restruc- 
turing by selling land and buildings 


Thai Firm 
Approves Bid 
By WestLB 

'Vci'Arr ffrnirr-fri'w 

BANGKOK — Senior creditors 
and directors of Finance One PCI- 
approved a plan Thursday by Wesl- 
deutsche Landesbank Girozentrale 
of Germany to inject $71 million 
into Thailand's former leading fi- 
nance company. 

The deal, which would give 
N .WestLB a 26 percent stake in Fi- 
nance One. would be the first under 
which a foreign bank has taken a 
stake in one of Thailand’s battered 
finance firms and could herald other 
such rescues, analysts said. 

Finance One's board of directors 
was suspended June 27 as the fi- 
nance company staggered under 
massive bad debts. 

A government agency is due to 
announce Monday the fate of 57 
other insolvent lenders. 

WestLB is to invest S2J million in 
new capital directly into the firm and 
provide the other $50 million in the 
form of a standby facility. A further 
$29 million of Finance One deben- 
tures would be convened to equity 
under the deal. 

/tf" The decision by Finance One’s 
‘'senior creditors to support the YVesl- 
LB bid would appear to scuttle a 
drive by another foreign bank. Cred- 
it Suisse First Boston, to take a stake 
in the company. 

The deal, if successful, also could 
clear the way for other foreign banks 
to invest in the ailing finance sector. 

“1 think, leading by example, we 
will see other foreign banks invest- 
ing in Thai finance companies.” 
said Klaus Gerritzen. senior vice 
president of WestLB. 


ing the company more competit- 
ive,” Mr. Goodman said. 

Singer will integrate its sewing- 
machine production operations with 
those of G.M. Pfaff AG of Germany. 
Singer said last month that it would 
pay $157.5 million to bay an 80.5 
percent stake in Pfaff from Semi- 
Tech (Global) Ltd. of Hong Kong. 

Mr. Goodman said Singer expec- 
ted to report income before the re- 
structuring charge of $21 million for 
1997. It posted a profit of $29 million 
in 1996. (APi Reuters, Bloomberg) 


m 








TvgHfaml MturamurnK fcwciBni Pics* 


FOCUSED BUYER — A customer in Tokyo perusing Kodak and Fuji Photo wares Thursday. A 
World Trade Organization ruling is expected Friday on Kodak's trade battle with Fuji in Japan. 

Honda Overtakes Nissan in Domestic Sales 


Xt'VTJ 

TOKYO — For the first time in 
its 49-year history, Honda Motor 
Co. can make a claim to being Ja- 
pan's second -iargesr automaker, 
after Toyota Motor Corp.. accord- 
ing to figures released Thursday. 

In November, Honda, from third 
place, overtook Nissan Motor Co. io 
sell more vehicles in Japan. 

Honda sold 74,706 autos in its 
domestic market in November. 4.3 
percent more than Nissan's 71,593 
units. 

Chris Red!, analyst at ING Baring 
Securities (Japan) Ltd., said that if 
Honda continued to manage its 


business as astutely as it has so far 
— focusing on small, recreational 
vehicles that have fared well in a 
difficult market — it could take over 
the No. 2 place for the year. 

Nissan and Toyota “are on their 
knees, while Honda keeps stuffing 
cash into its pockets" Mr. Redl 
said. 

“Honda is having difficulty 
selling midsized cars, so it’s been 
raising the production of smaller 
cars,” said Peter Boardman, analyst 
at UBS Securities Ltd. 

Honda's global sales lag Nis- 
san's. but they have been catching 
up steadily. 


In the year to March 1997. 
Honda’s global sales rose 33.5 per- 
cent to 529 trillion yen ($41.12 
billion), compared with the same 
period two years earlier. 

Nissan’s global sales improved 
14.1 percent, to 6.66 trillion yen, 
over the same period. 

Honda's domestic market share, 
by unit sales, is up 1.2 percentage 
points over its 1996 share, to 1 1.1 
percent for the year to date, Mr. Redl 
said. 

Nissan's share has stayed flat at 
15.6 percent, he said, while 
Toyota’s has fallen 2.9 percentage 
points to 32.4 percent. 


FAGE 21 


Hanoi to Sign 
Pact to Cut 
Debt in Half 

ConfUra to Oor Staff Fnm Dfcfwrfw 

HANOI — Vietnam plans to sign 
an agreement Dec. 16 that would 
wipe out more than half of.its long- 
term debt to commercial banks and 
remove the last obstacle to its bor- 
rowing -on international financial 
markets, the State Bank of Vietnam 
said Thursday. 

• The deal will involve reschedul- 
ing $851.9 million of principal and 
interest owed to the group or private 
creditors known as (he London 
Club. The so-called Brady bond 
deal, which would spread repayment 
over 3 1 years, involves rescheduling 
at least 93 percent of Vietnam’s debt 
incurred before 1989, most of which 
is owed to Japanese banks. Brady 
bonds are do liar-denominated secu- 
rities created from debt restructur- 
ings in the early 1990s. 

“This basically cleans up an old 
problem in the background arid, helps 
restore Vietnam to credibility in in- 
ternational capital markets,” said 
RolloPrendeigasl, director of In vest- 
ment Banking at ANZ Bank in Hong 
Kong, which managed the package. 

The State Bank said the package 
entailed a gross debt reduction of 
about 53.9 percent, die highest debt- 
reduction percentage in Brady-style 
restructurings to date. Most creditors 
taking part in die restructuring pack- 
age chose to swap old debt fix' 30- 
year Brady bonds, which are backed 
by U.S. Treasury securities. 

In the first 10 years, Vietnam’s 
average debt service, which until 
now bas been zero, will be $31 >5 
million annually. It will rise to $47.4 
million annually in the following 
nine years before falling to $18.4 
million in the final 12 years. 

The central bank also said it would 
not yield to pressure to devalue the 
currency in the short term. “We’ll 
have to adjust it if necessary, but not 
now, and not in the near future,” said 
Le Due Thny. deputy governor of the 
State Bank of Vietnam. The country 
is under pressure to devalue the 
dong, which is not freely convertible, 
to keep its exports competitive with 
those of countries such as Thailand 
and Indonesia whose currencies have 
tumbled against the dollar this year. 

Trading in the dong on local cur- 
rency markets has stopped in recent 
days amid mounting expectations 
that a new exchange rate is imminent 
The government rate for the dong is 
currently 11,175 to the U.S. dollar, 
and it recently traded at 12,293. 

(AFP, Bloomberg ) 



Source: Tefekura 


liucrimkopl Herald Tribune 


Very briefly: 

• Jian giing Motors Corp.? one-fifth owned by Ford Motor 
Co„ said its profit would be helped after the government 
granted it a tax holiday, “but only to a certain extent” Liu 
Donggui, an official in Jiangling’s securities department, said, 
“Our earnings are also determined by other factors.” 

• People's Bank of China will make public, both in China 
and abroad, information that now is circulated only within the 
banking system', the China Securities newspaper reported 
Information pertaining to monetary policies, regulations, de- 
cisions and financial statistics is to be published by the 
National News Publishing Office starting next year. 

• Mitsubishi Motors Con), of Japan is to supply low -emis- 
sion engines lo the MaJaysi an .national car maker Perusahaan 
OtomobiJ Nastonal Bhd., known as Proton, beginning in 
2000, the Nihon Keizai Shimbun reported. Mitsubishi is to 
export 20,000 to 30,000 of its direct-injection engines in 2000, 
with shipments expanding to 100,000 units by 2003. 

• Darwa Securities Co. shares fell 7.2 percent on speculation 
that the Finance Ministry was investigating Japan's second- 
largest brokerage for possible hidden losses from illegal trad- 
ing practices. The shares dosed at 410 yen ($3.18), down 32. 

• Toyota Motor Corp. agreed to take part in a Chinese project 
to test and evaluate the use of electric vehicles. The test will 
involve the use of 30 such vehicles in Shantou in Guangdong 
Province and the neighboring island of Nanao from next 
spring through 2000. 

• Samsung Group of South Korea will lay off as many as 1,110 
employees, or 37 percent of the work force, at its U.S. computer 
subsidiary, AST Research* between now and March 1998. 

• InterbrewS A, a Belgian brewer, bought an 80 percent stake 
in Nanjing Brewery, its second brewery in China. 

• India’s stock markets have seen a net withdrawal by over- 
seas investors of about $150 million during the country's 
current political crisis, the Securities and Exchange Board of 
India said, adding that foreign institutional investors had 
pulled out $148.7 million in November. Bloomberg. AFP. Reurers 



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page 22 


f NTER NATIONAL HERALD TRIBUNE, FRIDAY, DECEMBER 5, 1997 


.»js? 


I - 


INTERNATIONAL 


Exotic-Market Craze 
Is Cited in Asian Crisis 

Report Blames Investors' Disregard of Risks 


By Paul Biusiein 

Wmftimjhn P.-M Sen uc 


„,-5S w "^Ireshingly candid. Right in the 
,,1e financial crisis afflicting 
aoulh Korea, Thailand and other Asian 
SS mtne& ‘ ? n ^r&anizarion representing 
me world's biggest international in- 
vestors has issued a report saying, in 

, e F 1, that investors committed gross 
misjudgments in pouring money’ into 
emerging markets over the past couple 
of y ears — and that their exuberance 
contributed to Asia's current predic- 
ament. 

TTie report was released Tuesday by 
me Institute of International Finance, a 
Washington- based group whose mem- 
bers include large banks, brokerage 

NEWS ANALYSIS 

turns and financial-services companies 
from all over the world. The analysis 
depicts these sorts of companies as 
showing little regard for risk as they 
snappwJ up investments in Asia, Latin 
America. Eastern Europe and other 
emerging markets after the 1995 Mex- 
ican peso crisis. 

Because enthusiastic investors got 
“carried away."' as the institute’s chief 
economist. William Cline, put it. their 
panicky withdrawal from emerging 
markets in the past three montlis had 
particularly severe effects. 

The study’s principal finding was that 
once the shock of the peso crisis sub- 
sided. a dramatic decline ensued in the 
‘‘spread" between the yield on emerg- 
ing-market securities and the yield on 
U.S. Treasury securities — a decline 
with little economic justification. 

To understand what that means. 


imagine you have a choice between 
buying a two-year U.S. Treasury bond 

— one of the world's safest investments 

— and a two-year bond issued by a 
country’ such as Argentina. Poland or 
Malaysia. You presumably would insist 
on substantially higher interest pay- 
ments on the bond from the emerging 
market titan on the Treasury bond, to 
compensate for the higher risk that the 
country might fail to make interest or 
principal payments because of problems 
such as a collapse in its currency. 

But big institutional investors in rap- 
idly growing developing countries wer- 
en't so clever us to demand comfortable 
spreads over the past couple of years. 
Indeed, in April 1997. shortly before the 
Asian crisis erupted in full force, they 
were so eager to participate in the 
emerging-market boom that, according 
to the institute, they were accepting 
average yields of just 1.17 percentage 
points above Treasuries oil bonds in 14 
major emerging markets, down from a 
premium of 3.27 percentage points in 
October 1995. 

The ensuing crisis has forced the 
spread to widen significantly, of course, 
tu about 2.60 percentage points in Oc- 
tober 1997. “This study clearly sug- 
gests ihat some of the recent volatility in 
emerging markets may have been due 
not only to the realization that economic 
policies in some of the countries were 
unsustainable but to die fact ihat market 
spreads declined too far too last,” rhe 
institute's managing director, Charles 
Daliara. said. 

It is impossible to say whether 
spreads narrowed too much in 1997 or 
whether they were too wide to begin 
with in late 1995. But the study, using 
sophisticated analyses, concluded that 



INTEL: 

Looser Partnership • 

Continued from Page 1 5 


THaL^nnltatv/rbcAitmw^f’rcn 

EVERYTHING MUST GO — A Buddhist monk examining a second-hand Mercedes-Benz, 1 for .sale at a cut- 
rate price. As the country’s economic turmoil worsens, many Thais are selling their belongings to earn cash. 


"spreads fell much further than can be 
explained by changes in economic fun- 
damentals," Mr. Cline said. 

For example, the authors analyzed 
whether investor enthusiasm could be 
attributed to improvements in coun- 
tries' credit ratings or economic indi- 
cators such ns their dobf-to-export ratios 
— and found that it couldn't. 

Why did investors fail to recognize 
that many of their favorite emerging 
markets were borrowing too much, 
overinvesting in real estate and am- 
bitious industrial projects, and letting 
(heir banking systems gel into trouble? 

“Part of it is the dynamics of com- 
petition,'' Mr. Cline said “Over the 
past year, market participants were 
aware' that emerging- market spreads 
were too thin, but they were also con- 


gings tot 

exits masse last summer. 

Some politicians! and officials may 
conclude from all of this that they ought 
to restrict the inflovf ot capital into their 
countries. But Mr.paHJaraand Mr, CliiVe 
contend that such controls usually don't 
.work and that a fetter solution is to 


cerued about market share and being 
players over the long term, so an internal .. 
dynamic tended to push things along.” 

The report evokes memories of the 
widely publicized accusations by Prime 
Minister Mahathir bin Mohamad of 
Malaysia . that -evil foreign-currency 
speculators were responsible for laying 
low Asia's so-called tiger economies. 

The study and Mr. Dal lira's remarks 
con be interpreted as implying that fi- 
nancial-market players do deserve some 
of the blame for what happened, , al- 
though for entirely different reasons 
than those cited by Mr. Mahathir. 

Rather than conspiring to keep' Asians 
poor, as Mr. Mahathir theorized, in- 
vestors were evidently guilty of excess- 
ive willingness to make them rich, and - severe adjustments^^!!! need to be made 
that led to grief when they rushed for the now in these countries’ economies.” 


ensure that econonu 
so that Investor 
atively high even-di 
as it fiks in Slnga 
“We should a 
events in, some sort 



liciesare sound 
ce remains rel- 
a broader crisis, 
br example, 
putting these 
f ? Star Ware’ men- 


tality, with good guys and bad. guys.” 
Mr. Dallam said./ “Poor economic 
policy decisions wpe made in some 
countries, and, to some extent; the mar- 
kets financed those rfc^icies. The point is, 


business development in the neiwoffr 
computing software division, said IBM 
was helping tu make it “operating-sys- 
tem agnostic. ” meaning that ‘‘many 
vendors can participate.” 

'.Executives from Microsoft and Intel 
play down any. differences. Intel has 
long worked with companies other than 
••Microsoft. Mr. Gclsinger pointed out. 
“We haven ’t met a piece of software we 
don’t like,” he said. 

But iir the past, Intel has not con- 
■' scientiously worked with each software 
vendor to make sure the software sup- 
ports aU the features of every chip.. 
Partly, that has been because its worjf 
with Microsoft lias largely served In- 
tel’s most important customers — PL' 

users. '• 

“Here we’re saying, ‘Bov. this is a 
new market,’ “ Mr. Gelsinger said. As a 
result, Intel is working harder with a 
' broader collection of software compa- 
nies. 

Similarly. Microsoft executives say 
they are willing to work with Intel, as 
they have in the past. 

They simply want to make sure the 
new devices will do a good job of run- 
ning their software. 

. “We’re going to review the spec- 
ifications that they’ll put out and work 
with Intel to make sure it’s a great way 
to run Windows-based terminals." said 
Jonathan Roberts, director of product 
marketing for Windows. “The reality ism 
-ihat '90 percent of the network com- 
puters are used to run Windows ap- 
plications,’’ 

Mr. Roberts explained Microsoft’s 
future strategy this way: “It’s abso- 
lutely true that what we perceive to be a 
'PC will change dramatically over the 
' coming yeans. 

“It's Microsoft's belief that people 
will still want those devices to work 
together, to share information. Our 
strategy is to make Windows the com- 
- mon link between those.” 


In 1996, LG invested over US$9 billion to grow its business. 




We put people first. 


Sequoia:! stand as a testament to nature's pmrvr to create lit; and growth. 

But sometimes nature needs a litlle help. Thai’s wl iv LG Chemical researchers like Dr. Parle have created EuLrupinTa biosynthetic 
human growlli hormone that s helping children with growth disorders overcome the disability that nature dealt them. 

Our many other technologically sophist icalcd products include one-time programmable microcontroller units, ISDN-compatible 
videoconferencing systems, and digital mobile telecommunication systems. 

These products enrich the lives of the people who use them. But none gives us as much pride and joy os Dr. Port’s miraculous wort. 
Now, what can we do for vou? _ _ 

lg 

http: //wuu .lg.co.kr/ 


RESCUE: IMt'Pian Could Set Bad Precedent 


Continued from Page 15 

tious. reducing bank failures 
and the need for bailouts. , 

. Robert Hormais,. a vice 
president of Goldman Sachs, 
argues that developing coun- 
tries should -adopt capital con- j 
trols, dictating how loans can i 
be dispersed, particularly 
those from abroad. That, too, f 
could force lenders to be more j 
cautious. 

Henry Kaufman, an econ- 
omist and money manager, 
soys a new layer -of interna- 
tional supervision is oeedfid to j 
set lending standards and si*- j 
There is) 
to man - 1 
he said.- 

A~ nations] bailout is tbej 
only tool readily available 
today to reverse .financial 
crises that a government cani 
not handle on its own. . . 

These crises are almost aid- 
ways rooted in the unrealistic 
view of lenders and borrowers 
that they -will profit Wbeq 
those profit hopes were 
dashed in Thailand and ui 
South Korea in recent months' 
devaluations, bankruptcies 
and bank failures followed- 

The IMF will feed the $5^ 
billion that has been set aside 
for South Korea to .the counf 
try in'stages. The money will 
go to the Ministry of Finance 
or the central bank, where it 



will augment government 
funds. The additional funding 
may help restore confidence 
in the county and stabilize 
the slide in. its currency and 
other financial markets. 

Or it 'may be used to solve 
the banking crisis. A South 
Korean , bank, for example, 
rnay have made a five-year 
$100 million loan to an auto 
company, which has defaul- 
ted. The bank may have gotten 
Us funds from $100 million in 
six-month loans from Amer- 
ican and Japanese banks. 
i^ASi. long, as -Jhe-Sputh. 
Korean economy seemed 
sound, even booming, the for- 
eign banks were willing toroU 
over these short-teim loans. 
Indeed, they were eager to do 
so because they were lending 
to Korean banks at much 
higher rates .than they would 
charge domestic customers. 

But in the current crisis, the 
American and Japanese 
banks, fearful of losing their 
money, want quick repay- 
ment And new leading from 
abroad dries up. 

With the IMF bailout, the 
foreign bonks may choose to 
roll over their loans, expect- 
ing that, in time, they wQJ be 
repaid in full. That happened 
in Mexico. The $48 billion 
that was made available to the 
country. $20 billion of it from 
the United States, reassured 


most foreign investors and 
they left their money in place £ , 
Bur the big Mexican debtor 1 
was the government, while in 
Asia’s crisis, the private sec- 
tor owes the money. 

If the foreign banks insist 
on quick repayment, the South 
Korean government can do 
this as well, with its newfound 
money. Or the process can be 
less direct. The Ministry of 
Finance can buy from the 
Seoul bank the bad loans. The 
Seoul bank, in tum. buys for- 
eign currency with the pro- 
.eeeds and repays the Amer- 
ican and Japanese banks. 

A similar reimbursement 
process functions for Korean 
depositors whose money has 
gone to bad loans. The 
Korean government can re- 
plenish the deposits, in whole 
or in part by buying up ihe 
bad loans, using general 
funds to do so. In this case, the 
IMF bailout adds to the go\/ 
emment’s available funds. - 

Bur for Joseph Stiglitz, chief 
economist at the World Bank, 
the bailout solution is unlikely 
to deter the unrealistic lending 
practices. “To the extent that 
private investors who made 
bad decisions are bailed out." 
he said Monday. “ their incent- 
ives will be distorted, exacer- 
bating the problems govern- 
ments face in nying to stabilize 
capital flows." 


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RICH: 

By the Millionsi 

Continued from Page 15 

nothing like the possibility of 
millionairehood to get you 
motivated. B ut the options ihat 
motivate employees dilute the 
stakes of existing holders. If 1 
Microsoft were to issue today 
all the 259 million shares for 
which its employees have op- 
tions, ihe existing holders; 
stake in the company would 
drop io about 83 percent from 
100 percent. This is kmnvn as 
dilution. And dilution tends lo„ 
be bad for your stock price. *. 1 

To keep dilution as low as 
possible, Microsoft buys 
shares at today's high price in 
the market and reissues them* 
at low option prices to emi‘ ■ 
ployees. v 

This game gets preny ex- 
pensive. In the three months 
that ended Sept. 30. Microsoft#- , 
spent $913 million buying fix’ 
own shares — more than it 
spent on sales and marketing 
($788 million), research and 
development C$567 million} 
or any other single cost item. 

Microsoft goes through 
various contortions to offset 
some of this cost. My favorite 
is its sales of options that give - 
people the right to sell stock 
to Microsoft at a Fixed price 
on a fixed day. 

These “put” options, sold . •, 
to outsiders, arc totally dif- " 
ferent from the options that 
employees get. The people 
buying puts are betting that 
Microsoft's stock price will 
fall. The employees with op- 
tions are betting the price willj ’ 
rise. Through June 30. the' 
company had raised $270 
million by selling puis that 
have expired. The company 
keeps the money tax-free. 









INTERNATIONAL HERALD TRIBUNE, FRIDAY, DECEMBER 5, 1997 


PAGE 23 



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World Cup Groupings 
Draw Mixed Reactions 

Champion Brazil Starts With Confidence 


Iva Mqjoli on the way to a 6-3, 
7-5 victory Thursday over Ir- 
ina Splrlea in the Masters of 
Champions event in Frankfort. 


C*r*HrOir*4FlmDhpMdiB 

MARSEILLE — The coaches of 
World Cup finalists gathered Thursday 
to discover what they would be dealt by 
thetoJtrffat^asrqawentedbySqjp 
Blatter of .FIFA, die governing body of 
world soccer. Their reactions varied 
from the highly sanguine to the deeply 
pessimistic. 

*7 am confident Brazil will win the 
group, but irs interesting to be drawn 
with Norway. They are the only team to 
have beaten us since we won the World 
Cup in 1994. 1 know nothing about this 
current Scottish side. I will have to get a 


one of the toughest.' 1 

— Javier Clemente, Spain 
‘ " They're all tough games. It could 
have been a lot better, end it could have 
been worse. Romania are an experi- 
enced side, but they are aging, andl have 
a young side. Tm not too disappointed." 
— f*iann England 

“We’ll have to wait and see what 
happens on the pitch, but / think it’s a 


cricket India lost its last seven 
wickets fen- 46 runs in just over an . 
hour after tea on Thursday as its 
first innings ended at 512 in the 
third and final test against Sri 
Lanka in Bombay. S achin Ten- 
dulkar and left-hander Saurav Gan- 
guly, the two overnight batsmen, 
both hit centuries. 

• South Africa captain Hansie 
Cronje complained abOTt crowd be- 
havior after hisplayers were pelted , 
with missiles Thursday during die 
World Series one-day international I 
against Australia. Golf balls, glass 
bottles and pieces of chicken were 
hurled over the boundary fence at 
die Sydney Cricket Ground. 

South Africa won die match by 
67 runs. It made 200 all out in its 50 
overs and then dismissed Australia 
far 133 in 38 overs. (Reuters) . 


est. 

current Scottish side. I will Have to get a — ‘Boris Mihailov, Bulgaria goalie 

video and have a look at them" * ‘It is really a very good draw for us. 

— Mario ZagaJlo, coach of Brazil. I feel confident we can reach the next 
“We' re satisfied with our opponents, stage and perhaps play England.” 
but not delighted. Croatia could sur- — Miroslav Blazevic, Croatia. 


prise anyone, Japan are a dynamic team 
we respect, and we know nothing at all 
about Jamaica exeat that they have a 
Brazilian coach andplayfootball well ” 
— Daniel Passandla. Argentina. 

*7 am delighted with the draw, which 
has delivered us the teams we wanted. I 
expect us to get through the first stage of 
the competition ." 

— Slobodan Santrac, Yugoslavia. 

“I knew there wouldn’t be any easy 
matches in the World Cup finals . so I 
didn’t mind which group we ended up in. 
Bull feel very pleased to be facing such 
strong teams as Argentina, Croatia and 
Jamaica" — Takeshi Okada, Japan. 

“The United States, Yugoslavia and 
Iran are good sides. We know them well 
and know what lies ahead of us." 

■ — Berti Vogts, Germany. 

“We haven't been lucky. Our group is 


Something in the Water? SOCCER; Matchups Made for World Cup 


swmwra Vladimir Pyshnenko, 
a member of the Russian relay team 
that set a world record in the 1992 
Barcelona Olympics, and two others 
tested positive for steroids, the coun- 
try’s swimming federation said. 

Pyshnenko, Natalia Mescher- 
jakova and Olga Kochetkova were 
barred by the federation from die 
world the championships in Aus- 
tralia next month. (AP) 

Williams for Gramhlmg 

college football Doug Wil- 
liams, the former NFL quarterback, 
will return to his alma mater, Gram- 
bling State University, as football 
coach. Williams played for the uni- 
versity under coach Eddie Robin- 
son who retired this week. 

Williams coached Morehouse 
College in Atlanta this season. His 
team finished 3-8 this season, the 
same record as Giambling’s. (AP) 

White Sox Pick Manuel 

bashiell The Chicago White 
Sox hired Florida Marlins bench 
coach Jerry Manuel as manager 
Thursday, replacing Teny Beving- 
ton. who was dismissed after a dis- 
appointing season. 

Manuel never has managed at the 
major league kveL He managed 
AAA Indianapolis in 1991 and AA 
Jacksonville in 1990. (AP) 

Nelson Replaces Geamons 

BASKETBALL Ross Perot Jr., the 
owner of the Dallas Mavericks, 
fired coach Jim Cleamons on 
Thursday and replaced him with the 
club’s general manager, Don Nel- 
son. Cleamons was fired after the 
Mavericks lost 12 of their last 13 
games. He is the first NBA coach to 
lose his job this season. (AP) 


Continued from Page 1 

Some 35 billion cumulative televi- 
sion viewers are expected to watch the 
m onthlong tournament next summer. 
One official of soccer’s governing 
body, with perhaps just a little exag- 
geration, on Thursday called die World 
Cup “the single most important event 
for die human race in the coming year.” 
The preparations have been merireri by 
various controversies, die most recent 
over whether die yellowing grass at die 
Stade de France is suffering from pol- 
lution, as envir onmental groups say, OT 
just from winter, as the stadium's build- 
ers and owners say. 

A fuss involving an American spon- 
sor was resolved this week when An- 
heuser-Busch, brewer of Bndweiser. 
beer, agreed to sell its on-field adver- 
tising boards to a .watchmaker, Casio 
Computer Co. The sale, for, an undis- 
closed amnnirt, came because French 
law bans the advertising of alcohol on 
playing fields. 

Anheuser-Busch was aware of the 
law when it signed on as a sponsor, but 
hoped to win an exemption from die 
French government. It appeared to be 
making headway with the center-right 
government when unexpected elections 
last spring brought the Socialists to 
power. 

The new sports minister, from die 
Communist Party, was not interested in 
exceptions for American beer. An- 
heuser-Busch said it would continue to 
be a sponsor in every other way. 

The draw was watched by an es- 
timated 500 million television spectat- 
ors and 38,000 chilly Marseillais. Prime 
Minister Lionel Jospin was among the 
dignitaries in attendance. 

The draw was marred by a bus 
drivers’ strike, which did not keep dig- 
nitaries or spectators from getting to the 
field "but enhanced France’s r ep u tation 
as one of Western Europe’s strike cap- 
itals. _ 

Few here Thursday have forgotten 


- that die draw in Paris for the qualifying 
rounds in December 1995 took place 
amid a strike that virtually shot down 
public transit 

Before the draw, an all-star team from 
Europe was soundly beaten by a similar 
team from everywhere else, 5-2. 


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(tananki wl Colombia Lyo* June 15 
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Romania va England Teuton* Jane 22 
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Ramada va Taidsta, PniteSt de Franca June 25 
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Argacdina vs. Japau Touious* Jane 14 

Joantea v* Qaafi* Lena Jane 14 

Japan vs. CraaHa Nantea Jane 20 

Aigoriten vs. JoaMkafteteP. des Prince* Jane 21 

Aigwdtna vs. Crania Batina, June 25 

Japan vs. Janata* Lyo* Jane 25 


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"France’s group is relatively easy. We 
have ample opportunity to qualify for 
the second round. Group D with Ni- 
geria, Spain, Bulgaria and Paraguay is 
a real killer." 

— Michel Platini. ex-French captain 
. and co-president of did organizing 
c ommittee 

"Our anup is the most difficult. We 
have had no luck." — Adalbert Kassay, 
Romanian Federation secretary general 

"It's curious. As I flew to Marseilles 
from Brussels, I thought it could just 
happen that we meet each other. It is 
very curious." 

— Oivne Hiddinlr t Ncthe riflnds 

The Dutch and Belgians were in the 
same qualifying group foe France and 
the same first-round group in die United 
States in 1994, when Bdgrak won 1- 
0. (AFP,AP): 


Antony De Avila, right, playing for the Rest of the World team; scoring past Europe’s goalkeeper, Andrea* 
Koepke, in a match played in Marseilles before the draw for -the .World Cup finals, Eu rope lost, 5-2^ 

TOBACCO: EZFs Ban on Advertising to Thhe Ejfect Over 8 Years 



Continued from Page 1 

tries PLC recently announced that it 
would take over the Tyrrell Formula 
One team. 

Cars are zooming billboards for cig- 
arette, brands, seen in hundreds of mil- 
lions of homes around the world. 

With an increasing number of coun- 
tries b anning television advertising of 
tobacco products, the racing industry is 
die most effective medium for the cig- 
arette makers to put their message 
across. 

A U.S. anti-smoking campaigner , 
Alan Bliim, examined a television 
broadcast of one Grand Prix race and 
found that one tobacco sponsor’s logo 
appeared on the screen almost 6,000 
tunes. 

Ar th e Brusse ls nvravrng, the Gennan 
health minister. Hoist Seehofer, said it 
was “blatantly contradictory*’ for the 
EU to be harming tobacco advertising 


magazines while aOowing sweeping ex- 


clothing, displaying tobacco compa- 
nies’ logos. 

For a variety of reason s, Germany, . ' C ommissi on officials were ini t ial ly 
o rav-re, Austria a nd P wimarir said they cheered by die election of a Labour 
wou l d vote a gainst the proppsals or ab- government, believing it would give 
ctain while Italy the measures did them die best chance in years to curb 
not go far enough. tobacco ads. The officials now say they 

The European Commission had been are deeply disappointed in the govem- 
seekingthe ban since 1989, arguing that merit’s about-fatte, a view widely shared 
present (fisparities in legislation^ among in Britain. 

member countries were an impediment “Members of the present goveru- 
to Europe’s single marketTltte exec- ment crucified the previous adminis- 
utive body also based its position on a . nation for failing to do anything about 
treaty requirement for it to ensure a high tobacco advertising,” the chairman <jf 


level of health protection. the British Medical Assocl 

Advertising experts say the assod- Macara, said recently. “Tb 

ntinn <yflnhar«v and antn raring, with its d i ffer ent it WOllld be wfadl new LabOUt 

feats of derring-do and hero drivers, is a came to power. A lot of ns feel betrayed 
potent means of persuading young by the government's failure to honor its 
people to take up smoking, to replace pledge.” 
the estimated 300 people , who die of Unlike foe represented 
tobacco-related, diseases in the EU sports foat woula have be 
everyday. spansqrship ban, Mr. Ecc 

Television advertising of tobacco . personally with Mr. Blair 


V WOLW flUTViuomfi, uJv Ui ininwii V* f ^ * 

the British Medical Association, Samf^wiaH CRQ A 
Macara, said recently. “They said hows*- ||V 
different it would be whro new Labour jsffmV 

came to power. A lot of ns feel betrayed . 


UP 


while subsidizing tobacco growers by products already is banned across the 
more than $1 billion a year. He also said EU. The tuoposed new directive armed 


it made no sense to ban tobacco ad- 
vertisements in newspapers and 


EU. The proposed new directive aimed 
^restricting advertising to point of sale. 
It also sought to bah products, such as 


Unlike foe remesentetive of other 
sports foat would have been hit by a 
sponsorship ban, Mr. Ecclestone met 
personally with Mr. Blair to argue his 
case. He was quoted as saying that a ban 
would cost Britain 50,000 jobs, al- 
though this figure seems to have un- 
dergone no rigorous analysis. 




Sabres’ Hasek Holds Off Ducks, 4-0 


The Associated Press 

All of a sudden, foe season is turning 
around for Buffalo goaltender Dominik 
Hasek. 

“It's been a process to get him go- 
ing,” coach Lindy Ruff said Wednes- 
day night after foe Sabres routed foe 
Anaheim Mighty Dudes, 4-0, behind 
Hasek’s 29-save performance. • 

Hasek, last season’s roost valuable 
player in the NHL, had a rough start this 

HHL UoqwpBP 

season with a 4-7-2 record, and an in- 
flated goals-against average. But he 
seems to finally be rounding inrr> form 
afro- being benched fw one game by 
Raff cm Nov. 15. 

Hasek is 3-3-2 since foe benching. 
Even better, he has a 2.24 goals-against 
average. 

“I feel pretty comfortable,” said 
Hasek, who played in his 300th NHL 
game. 

Miroslav Satan scared two goals, 
while Donald Audette and B rian 
Holzinger added power-play goals for 
foe Sabres. 

After Buffalo took a 2-0 lead, foe 
Sabres’ penalty-killers and Hasek held 
off Anaheim during two power plays, 
one a foor-minnte advantage early in the 
second period. Anaheim went scoreless 
on four power-play attempts. 

“I’m playing bettor, and the team is 
playing better in front of me,” Hasek 
said. 


CanadiMM 2, Knga O Vinceat 
Dampbousse ended Montreal’s scoring 

Canadiens beat the visi^^K^ngs. 

Seconds after Los Angeles killed off 
a penalty late in tbeperiod, Danrohousse 
banked a shot off foe leg of former 
Montreal goaltender Frederic ChaboL 
Mark Reccfai added a goal with 5:28 
left for foe Canadiens. who bad not 
scared in 104 minutes since Bpftn Sav- 
age’s goal in the third period of a 6-3 
loss at Pittsburgh on Nov. 29. 

U# itM n2,Coyat— 1 1n Tanya, Paul 
Ysebaert and Dino Ciecarelli scored 

leadfoe^Ughtmng over Phoenh^^ ■ 
Ysebaert scored on a breakaway at 
12^5. Ciecarelli that scored his 590th 
career goal at 12:59. The right wing, 
who was making his second appearance 
since elbow surgery Nov. 7, had not 
scored since Ocl 21. 


een retumed from a six-game absence 
for a hamstring injury and helped spark 
a three-goal Best period for Carolina. 

Dineen and Geoff Sanderson each 
had a goal and an assist as the Hur- 
ricanes scored three times in a span £ . 
2:17 to record their highest-scoring 
period of the season. 

Carolina's Sami Kapanen scored 
twice to bolster his team-leading total to 
15 goals. Steve Chiasson added two 
assists for the Hurricanes, who built 
leads of 3-0 and 4- 1 before holding on to 
victory far the third time in four games. 

Stan 4, ooara i In Dallas, foe Stars 
overcame the loss of NHL scoring lead- 
er Mike Modano in foe first period to 
beat Edmonton. 

Modano was kneed in foe right knee 
by defenseman Bryan Marchment on a 
check along foe boards with 1 1 :02 left in 
the first Modano crumpled to foe ice 
and was helped to the locker room. 


Li ghtn i ng goalie Daren Poppa, who Modano, who started foe night witf* 
faced 27 shots, stopped point-blank . 15 goals and 23 assists for 38 points, 
second-period chances by Rick Tocchet expected to miss four to six weeks with 


second-period chances by Rick Tocchet 
and Juha. Ylonen. 

Brain* 3, Fiyara o Joe Thornton, foe 
top draft pick last summer, scored his 
first NHL goal and point in foe third 
period as Boston won at Philadelphia. 

Steve Heinze broke a scoreless tie in 
foe second period, andPer-JohanAxels- 
son had a goal and an assist for the 
Bruins, who snapped a seven-game 
winless streak and recorded iust their 


a tom ligament 

Rod Wings 4, Flames a Joey Kocur 
scored the eo-ahead goal at 3:19 of foe 
third period as Detroit won at Calgary. 

Kocur was stopped twice from the 
same spot at foe edge of the Flames* 
crease before finally whacking his 
second rebound past goalie Rick 
TabaraccL The goaf restored a Detroit 
lead that had bear wiped out just over a 


recorded just their lead that had beoi wiped out just _ 
second victory in 13 games. minute earlier on Theoren Flemy’s 

R tafcta ” s, l aim dara 3 Kevin Din- short-handed goal. 


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PAGE 25 




SPORTS 


Sprewell’s Career Skids to a Halt 

After Attack on Coach , Starls Cut by Warriors and Banned by NBA 


fir* 

Ufa 


. EUlim jy^diln/TV Wivifd Pf^ 

; The 76ers’ Terry Cummings, left, battling for the ball with the Heat’s P. J. Brown in Miami’s 94-90 victory. 




This Time, Phoenix Loses a Marathon 


/ar. I Press 

The Phoenix Suns played their 
second tong. long overtime game in 19 
days. This lime, however, they lost. 
108-103. in triple overtime at Detroit 

"This was a fun game to be a part 
_ of.*' said Danny Ainge. the Phoenix 
‘ coach. The Suns beat" Portland. 140- 
139. in quadruple overtime less than 
three weeks ago. "We had some 
chances to win. but we couldn't gel the 
shots to fall. They just outlasted us." 

Magic ioi, Grizzfies 97 Penny 
Hardaway, the leader of a player revolt 
last season that culminated in the firing 
of Brian Hill as coach of the Magic, 


scored 22 points as Orlando beat its 
former coach and won on the road for 
the second straight night 
' BuBs 97 , Celtics 87 Michael Jordan 
scored 29 points. Dennis Rodman had 
17 rebounds and Toni Kukoc had 15 

S tints, 1 1 assists and eight rebounds as 
hicago avenged an opening-nighr loss 
at Boston. 

Lakers 107, Nuggets 89 Elden Camp- 
bell, filling in for Shaquille O'Neal, had 
23 points and 12 rebounds. Nick Van 
Exel was 5-for-5 from 3-point range. 


Jazz 115, Raptors 98 In Salt Lake 
City, Karl Malone had 23 points and 13 
rebounds, and Bryon Russell added a 
season-high 19 points. 

Pacers~94, Timberwohre* 90 Reggie 

Miller scored 27 points and Indiana 
capitalized on several mistakes by Min- 
nesota at both ends of the floor. 

SuporSonics 93, Nets 89 Vin Baker 
scored 23 points and Hersey Hawkins 
made four late free throws and grabbed 
a key defensive rebound as Seattle won 
at New Jersey. 

Heat 94, 76ers 90 Isaac Austin scored 
28 points and Tun Hardaway added 20 
points and 1 1 assists for the host Heat. 


The Associated Press 

OAKLAND, California — Latrell 
Spreweil was suspended for a year with- 
out pay Thursday by the NBA for at- 
tacking his coach, PJ. Carles imo. 

The move came less than a day after 
the Golden State Warriors terminated 
Spreweil ’s $32 million contract for as- 
saulting Carles imo at practice and 
threatening to kill him. 

"A sports league does not have to 
accept or condone behavior that would 
not be tolerated in any other segment of 
society." said David Stem, the NBA 
commissioner. '‘Accordingly, Latrell 
Spreweil is suspended from the NBA 
for one year." 

The suspension takes effect immedi- 
ately and will end Dec. 3, 1998. Spreweil 
was already serving a 10-game suspen- 
sion without pay imposed by the team. 
The league’s action prohibited Spreweil 
from playing for another NBA team. 

“LatreU Spreweil assanlted coach 
P J. Carlesimo twice at Monday's prac- 
tice.’’ Stem said. "First be choked him 
until forcibly pulled away. Then, after 
leaving practice, Mr. Spreweil returned 
and fought his way through others in 
order to commit a second, and this time 
clearly premeditated, assault" 

Sprewell’s agent Am Tellem, could 
not be reached for comment 

Also Thursday, Converse said it had 
fired Spreweil as an endorser and 
spokesman for the shoe company. 

Spreweil, a 27-year-old guard, was a 
three-time All-Star was the team’s lead- 
ing scorer with 21.4 scoring average. 

“I'll go overseas to play if I have to,” 
Spreweil said Wednesday. “And my 
life will go on if I never play basketball 
again. Basketball didn’t make me what 1 
am. I’ll be O.K.” 

In interviews with the San Francisco 
Chronicle and a local television station. 
Spreweil admitted making a mistake but 
did not apologize to Carlesimo, saying 
his attack on the coach came “after a lot 
of verbal abuse by PJ.” 

By terminating his contract, the War- 
riors avoid paying the approximately 
$24 million Spreweil was scheduled to 


earn in the final three years of the four- 
year deal signed before last season. 

It was die first time an NBA player 
had his contract terminated for insub- 
ordination. Two players, Roy Tarpley 
and Richard.Dumas, had their contracts 
voided for violating league drug policy. 

Bill Hunter, executive director of the 
players’ union, said a grievance would 
be fried about the contract rermination. 

But Garry Sl Jean, the Warriors' 
general manager, said, "Outrageous 
misconduct by players in professional 
sports has been tolerated for too long. 
We are drawing the line. Some things 
are more important than winning or 
losing games." 

“This wasn’t an economical de- 
cision,” Sl Jean said after the Warriors' 
95-67 loss to Cleveland on Wednesday. 
“This was a decision about morals and 
ethics and the right thing to do.” 

The game against Cleveland was the 
first game of that suspension. The loss, 
in which Golden State scored just 10 
points in the fourth quarter, dropped the 



Nun \lnrri»-Th»- IW 

Latrell Spreweil. team's top scorer. 


Warriors' record to 1-14. 

Carlesimo, a 3-inch (8-centimeter) 
scar on his neck slowly starting to heal, 
was given a standing ovation by a few 
fans Wednesday night during pregame 
introductions in the half-empty arena. 

Two fans had pro-Sprewell signs taken 
away from them before the game. 

lii a letter to Spreweil on Tuesday, the 
team said it reserved the right to ter- 
minate his contract under Section 16 of 
the Uniform Player Contract, which 
says players must “conform to stan- 
dards of good citizenship and good mor- 
al character" and prohibits “engaging 
in acts of moral turpitude. " ■ 

Some NBA players have a personal 
conduct guarantee clause in their con- 
tracts that prohibits teams from termin- 
ating their services based on their be- 
havior. Spreweil had no such protection. 

Witnesses said Spreweil grabbed 
Carlesimo by the neck and threatened to 
kill him. 

“I want to apologize to my fans, my 
family and friends of mine who saw 
this.’ ’ SpreweL! said. “It’s definitely not 
something that I condone, but it did 
happen. And that* s a mistake 1 made. I 
think it*s been known for some time 
now that we haven't been on good 
terms. And it's been over a month or so 
now, and I just couldn't take the verbal 
abuse that he's been giving all the guys 
over the past month or so." 

Spreweil denied punching Carle- 
simo, saying he never got close enough 
because teammates and other coaches 
held him back. 

“It would be kind of obvious if I’d 
really gotten to him," he said. “If I really 
went after P.J., he'd look a lot worse." 

Spreweil 's threat to kill Carlesimo 
prompted the league to arrange pro- 
tection for the coach from both the FBI 
and league security, according to The 
Washington Post. 

The Post also said that when Horace 
Balmer, the NBA’s vice president in 
charge of security, called Spreweil for 
his side of the story, the player hung up 
on him. saying lie "was asking too 
many questions." 


¥ 


Scoreboard 



- V* 


- 






BASKETBALL 


NBA Standings 


UfflRN CON Ft RUM 

Atlantic division 


w 

1 Miami It 

arMnda 12 

NrwYort. m 

’ Nfwjci^nr io 

Boston i 

iVashmglon o 

‘ Ptutadtfohto <J 

CENTRAL DIVISION 

Atlanta IS 

Chariot** IO 

Cleveland 10 

Indiana t 

Chicago >0 

Milwaukee 0 

Detroit 7 

Toronto I 

W Um WCOMHMW 
MIDWEST DIVISION 

W L Pci 
Utah i> 6 

Houston 9 5 

Son Antonio tO 7 


Pel 

tN 

M7 

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412 

353 

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■675 

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6 


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S'. 

BH 


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; 

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/ 

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WIDNISDAY-I RHUIT* 

OdCBfa 25 74 28 20- 97 

Boston 18 3® 32 27- 87 

L Jcnton II VI k 6 N. MWPtt S IDS 9 la 
B Warner fc-?J 1-1 P*. Rnwcn oil 3-6 16 
R e bo unds C toiiqo r-2 i Rodman 17V 


Boston 50 ( Walker 12). Assists— Chfcogo 25 
tKokoc it). Boston 14 (McCarty. BUJups. 
Boros 3). 

ScatBo 31 20 IS 27-93 

NMJRMV Z* 22 IB 23-89 

S: Bokef9.175-725.SdwwTgrf 5-126-7 17S 
NJj Cossefl 8-19 7-7 ZLG9 P-17 M lft 
Rebemds— Seattle 42 (Sctnwnpf 91 New 
Jersey 65 (J.WIIBoms 24). Assists— Seattle 
21 (Payton 6). Hew Jersey 20 (Kittles Sl. 
PMwMpMg 17 26 29 18- 90 

Micron 26 23 23 22- 9* 

P: Iverson lO-ft 04)21. H Nn Hwnp oo n 6-12 
2-3 U Jackson 6-13 2-2 14; M: Austin 12-20 
4-6 28. Hardaway 6-16 64 2a Mwanris- 
—PhOodeiphta 45 OffeathaispoonlJI, Miami 
50 I Brown 10). AMfato-PWtoddpWo 24 
{Jackson 71, Miami 25 (Hordoway 11). 
PtMOTi* 23 17 23 24 « 6 6-1B2 
Detroit 24 21 23 IP 4 6 11-Mi 
P: Chapman 8-24 2-2 22. Manning 8-19 04) 
)6i D:H8 11-24 5-627, B.WMamg 10-161-3 
21. Rebowb— Ptioena 68 UWtfBam 14). 
DrfraR 73 (B.winami 17). Assists— Plwenh 
27 (KMd 10L Detroit 20 (Hfll 10). 

Indiana 27 28 26 21- 94 

Minnesota 26 30 16 18- n 

U MiBer 11-21 3-3 27. Smtfs 7-16 1-1 15? M; 
Gamed! li.« 3-3 25. Coir 7-13 4-4 19. 
Rebounds— Indiana 46 (5 mas 8), Minnesota 
55 (GugGotto 12). Assfcb— tndkma 74 
(Jackson It), Minnesota 25 IMotbwylO). 
ULLainn 29 24 24 30-187 

Doawr 25 21 34 19- 89 

LA. Lakers: CompbeO 11-18 3-4 2& Van 
End 7-11 04) 19? D: Newman 7-15 96 19. 
Fortson6 124416. Rabmtls— Los Angeles 
S3 (Campbell 12). Denver <2 (Go melt 8). 
Assists — Los Angeles T8 (Bryant 5). Denver 
23 (Jackson 9). 

Toronto 19 29 26 24- 98 

Utah 22 37 3S 21—115 

T: Stoudan*e9-1 7 44 25, Wallace 7-14 2-2 
16; U Malone 11-19 1-5 2X RucseO 6-11 4-6 
19 Reboands— Toronto 37 (MiBer O.Utoh65 
[Malone IS). Assists—' Toronto 16 (MWerd), 
Utah 3? (Homacek, Etoley 81. 

Orlando 27 25 29 28-101 

Vancouver 29 30 15 73 — 97 


a Strong 8-16 7-8 23. Hardaway 7-19 741 
22?V;Abdur-R<Bwn11-ia7-226Tharpe6-10 
7-7 19. Rebounds— Orlando 45 (Stiwq 11), 
Vaicsover43 (Thorpe 1 3). Assists— Orlando 
28 (Price 13). Vancouver X (Abdirr-Rotam 
7). 

aevetaad 21 15 26 33- 95 

GoMm State 23 17 17 10-67 

C: Person 10-172-224. Anderson 2-69-9 11 
PofnpenfcOO-II 1-3 II G.S_- Mars has 9-16 7- 
3 23. Dumpier 5-6 04) 10. Robaends- 
— Cleveland 59 (Ugauskas 10), Golden State 
48 (Marshall 10). Assists— Oevdond 77 
OCnlgMBX Golden Stale 21 (Bogwcsj). 


ICE HOCKEY 


NHL Standings 

usim connuHCB 

ATLANTIC DIVtSJON 


PAC3TC ORnslON 



W 

L 

T 

Pts 

GF 

GA 

Colorado 

14 

i 

B 

36 

B4 

70 

Las Angeles 

12 

10 

5 

29 

85 

73 

Anaheim 

11 

13 

6 

28 

68 

83 

Vancouver 

9 

14 

4 

22 

77 

50 

Edmonton 

8 

15 

6 

27 

67 

90 

Son Jose 

9 

18 

2 

20 

73 

01 

Calgary 

6 

16 

7 

10 

73 

91 

WHMUSDAVS EI5ULTS 
Amhevn 0 0 

Boffato . 2 1 

0-0 

1-4 


Fast Period: B-Audette 7 (Dawe. Peca) 
(pp). 2. 3- Satm 10 (F^nte. Bamatry; Second 
Period: B-Hotonger 5 (Audttte. YJooBey) 
(pp). Third Period: B- Salon I) (V.'ooftey) 
Shots m goal: A- 7-8-1- — 29. £5- 10-10-5-25 
Gootes: A-Kehert. S-Hswrk. 

N.Y. tshmden 0 1 2-J 

Cankn 3 1 I — 5 



w 

1. 

T 

P!S 

GF 

GA 

PMadetphio 

IS 

9 

5 

35 

80 

66 

New Jersey 

17 

9 

0 

34 

74 

49 

Washington 

14 

10 

4 

32 

83 

73 

N.Y. tslandem 

T1 

13 

4 

26 

7S 

79 

N.Y. Rangers 

8 

12 

9 

25 

73 

79 

Florida 

8 

14 

5 

21 

63 

80 

Tampa Bay 

5 

17 

4 

14 

52 

87 

NORTHEAST OWWON 




W 

L 

T 

Pts 

GF 

GA 

Montreal 

16 

10 

3 

35 

87 

68 

Pittsburgh 

IS 

9 

5 

35 

83 

71 

Boston 

12 

12 

S 

29 

70 

78 

Carolina 

12 

13 

4 

28 

80 

B0 

Ottawa 

11 

13 

4 

26 

72 

70 

Buffalo 

8 

12 

6 

22 

68 

74 

WESTOM CONFERENCE 


CENTRAL BTV8SXM 




W 

L 

T 

Pts 

GF 

GA 

Dallas 

19 

7 

4 

42 

99 

66 

Detroit 

IB 

6 

5 

41 

97 

6b 

St. Laois 

16 

9 

3 

35 

81 

67 

Phoenix 

13 

12 

2 

28 

77 

75 

Chicago 

10 

13 

4 

24 

59 

69 

Toronto 

8 

13 

4 

20 

50 

70 


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' First Period: Carolina Dtneen 4 (Leschy- 
sriya Sandeison) 2, Carolina Sandasan 6 
(Chios son, Dlneen) X CnroDna ManderviBe 
2 (Ranhecn. Grimson) Second Period: New 
York. Palffy 14 (Choiske. Green) 5, CaroTim, 
Kapanen 14 iChk&soa Roberto) Third 
Period: New York, Green ID (BertuxzL 
Reichcl) (PP). 7. New York, Lapointe 5 
(BerhiaL Smolireki) 8 Carolina ICapanen 1 5 
(Primeau) (en). Shots oa goal: New York 10- 
17-11—33. Carolina 9-6-8—23. GeaBes: New 
York. Seta, CaroSna, Burke. 

Los Angolas o ■ o — o 

Montreal 0 1 1—2 

First Period: None. Second Period: M- 
Dampbaasse 8 (Rudnsfcy, Brtsebois) (pp). 
Third P e ri od . M-Recchi 13 (Cersoa Kobni) 
Shots on goat LA.- 7-13-1S-3S. M- 13-13- 
8—34. Goafios: LJL-Chabot. M-ThStoull. . 
Boston 0 1 2—3 

pbaadeiphia a 6 P-0 

First Poriod: None. Second Period: B- 
Heinze 3 (OOMlfc AtSson) TbW Period: B- 
Thomton 1 (Axetoson) 1 B-, Axetsson 2 
(Taytoc Bourtjoe) Shots oa goal: B- 3-6- 
16—23. P- 3-1T-6— 20. GeaBOto B-Dotoe. P- 
Snovr. 

Phoenix 1 8 8-1 

TaawaBay 8 2 P-2 

Fhsi Period: Phoenix. Shannon 1 (Ytonen. 
Coriuim) Second Period: T-Yseboert 4 
(Huscrort) X T-Ckxnreii 4 (Langkow. 
Racine) Third Period: None. Shots oa goal: 
Phoenix 5-11-11-97. T- 88-3—19. Missed 
penalty shat— OcconK TB. first Goalies: 
Phoenix. KhobUMitxL T-Puppa. 

Ednonton 0 1 0—1 

Dates 3 1 0-4 

First Period: O-NIetiwendyk TS (Reid. 
Chambers) Z D-Verbeek 11 (Nleuwendyk. 
Syria rl (pp). 1. D-Reid 6 (Zubov, 
Langenbnmner) (pp). Second Period: D- 
Longenbrunner 13 (Carbonneau. LaMinen) 
& E-Lindgrer 3 (Buchberger) Third Period: 
None. Shots on g** E- 2-7-1 0— 19. D- 154- 
S — 31. Goalies: E-Joseph, Essensa. D- 
BeKour. 

Detroit 2 1 1-6 

Cdgror 1 1 1—3 


Fhst Peri od : D-Lkfetrom II (Murphy. 
Kaztov) Z D-GHchrisi 6 (McCarty. Kozlov) 
(pp). X C-. igmia 8 (CasseL Hogtund) 
Second Period: C-TItav S (Morris) 5. D-. 
Shanahan 14 (Yzerman, Eriksson) (pp). 
Third Period: C-Reury 9 (AOsoa Monts) 
(sh). 7, D-Knair3 (Mattoy, Murphy) Shots on 
goat D- 13-4-9 — 26. C- 186-10-26. GoaBes; 
D-Ospoori. C-Tatxpocd. 


CRICKET 


■MMAV8.MI LANKA 
THIRD TCST, 2D DAY 
THURSDAY M BOMBAY 

India: SU 
Srf Lanka: 66-1 

WOBDSIWf 
' AUSTRALIA VS. SOUTH AFRICA 
South Airica: 200 in 50 oven 
Australia: 133 in 38 overs. 

South Africa won by 67 runs. 


THIRD ROUND 

Bayer Leverkusen (I) I. Arm. BMeleid (I) 1 
Leverkusen quo lifted 4-3 on penalties. 
Atom Aachen [til ) I W. Mannheim dill 1 
Mannheim q unfitted 5-4 on penalties. 
Hanover 96 (III) l Cart Zeiss Jena (II) l 
Jena qualified 4-2 on penalties. 

MSV Duisburg (I) ). Ebrt. Frankfurt (II) 0 
SV Meppen (II) a KFC Uerrimgen (II) 2 
SSV Ulm (III) 1. VfB Stuttgart (I) 3 
(drvtskm In brockets) 


THStD ROUND, FIRST LEO 
Recreative Huelva (III) ClCetto Vigo (I) 1 
Rguenes (111) I Valencia (I) I 
Novel do (III) 2 Zaragoza (1)2 
Lorca (III) 2 Merida (1)0 
Alaves til) 1 Compostela ( I ) 0 
Osasuna (II) 3 Racing Santander (I) 0 
Extremadura (II) 1 Saknrvroca (f) 0 
Idhrtstan In brockets) 


MeLiSH PUMia UAOUE 

West Ham 4. Crystal Palace 1 

DUTCH HAST DIVISION 
NAC Breda 1. Roda JC Kerfcrade 0 
Fortune Sittard 3 Valendom 0 
MW Maastricht 8 A{ax Amsterdam 3 
RKC Waolw^i 1, Sparta Rotterdam 3 
STANDINGS: Ajax Amsterdam 49: P5V 
Eindhoven 37: Vitesse Arnhem 35: Feyeno- 
onf . Heeienveen 31; WIHem (I Tilburg 24; 
Twenle Enschede, Sparta Rotterdam,. NAC 
Breda 21: Utrecht. Forhina Sittard Granf- 
schap Doetinchem 2ft Rada JC Kertuadb 
NEC Nipnegen 19; Gmmngea RKC Waalwilk 
15? MW Maastricht 14 Voiendam 11. 


TRANSITIONS 


BASEBALL 

AMERICAN LEAGUE 

boston— R e-signed RHP Jim Carol to 1- 
year contract wffh an opttan year. 

CLEVsumo— Fired Dave Nelson, flrof brae 
coach and replaced him with Al Bumbry. 

tamOa bat— A greed to terms with LHP 
WHson Alvarez on 5-year contract. 

TEXAS— Agreed to terms with RHP Matt 
Whiteside on 1-year contract. 

TORONTO— Named Gary Matthews batting 
coach, Eddie Rodriguez third base coach and 
Sal Buleni bullpen coach. 

NATIONAL LEAQUE 

abizoha— P romoted Brian Butterfield to 
third base coach and infield Instruct or. 

lds anseles— S igned OF Trent Hubbant 
to l-yeor contract. 

prrnBURSH-Agreed terms with INF 
Doug Strange and INF Kevin Young on 2-year 
contracts. Designated INF Brandon Cramer 
.torrastgnfnenL 


national BASKETBALL NBA— Suspended 
Goldens toteG LatreU Spreweil far ) yeorfor 
attacking coach PJ. Carlesimo on Dec. I. . 
golden state— Term! noted contract of G 
Latrell Spreweil and placed him on waivers. 


Activated F Duane Ferrell tram injured Hst 
MILWAUKEE— Put F Jett Nordgoard on in- 
jured list. 

PORTLAND — Put G John Crafty on injured 
list. Signed G Rick Brunson. 

Seattle— P ut F Jerome Kersey an inlured 
RsL Activated G James Cotton tram Injured ' 
1st. 

tobokto— S igned C Tim Kempton. Waived 
C Ed Stakes. 

FOOTBALL 

NATIONAL FOOTBALL LEAGUE 
nfl— Fined Kansas CHy Chiefs LB Anthony 
Davis S7300 for hit oa San Francisco 49ere 
OB Steve Young in Nov. 30 game. 

N.T. JETS— Signed T Kerry Jenkins oft 
Chicago practice squod. Waived LB Chris 
Wing. 

Washington— Signed OB Jamie Martin. 

HOCKEY 

NATIONAL HOCKEY LEAGUE 
anaheim— Assigned D Pavel Tmka to 
GndnnatL AHL Recalled C Jean- Francois 
Jomphe from GndnnatL 
boston- IV ahred G Jim Carey. 
buffalo— Sent C Erik Rasmussen and D 
Jay McKee hi Rochester. AHL 
Chicago— Named Denis Savard assistant 
coach. 

DETROIT— Reassigned RW Alexandre 
Jacques to Toledo. ECH!_ 

EDMONTON— Sent O Craig MIHarta HamB- 
toa AHL 

Flobida— R ecalled F Ryan Johnson from 
New Haven AHL Sent LW Pete Worrell to 
New Haven. 

LOSAHGELEs— Assigned C Roman Vapatto 
Fredericton AHL 

MOWTUAL-Senf O J assert CuBmote to 
Fredericton. AHL 

NEW Jersey— A cquired D Dan Ratushny 
Irom Quebec IHL and assigned him to Al- 
bany. AHL 

N.Y.ISUUIDERS— Recalled G W ride Flaher- 
ty from Utah. IHL 

phoenix— Assigned RW Shane Doan to 
Springfield. AHL 

sah JOSE— Assigned LW NiUas Andereson 
to Kentucky. AHL 



DENNIS THE MENACE 


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LIFE WCM-D 
SEEM MORE 
1NIEEE5TIN& 
VHWAMUSKW- 
SCORE AND A , 
VWGH1WO..I 


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TONE BV EVERYDAY ON 



TO THE IHT 
1062 AM 

Purls and Suburbs 























PAGE 26 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, DECEMBER 5, 1997 


POSTCARD 


The Dream of a Poet 


By Celestine Bohlen 

Ne*v York Times Service 

F lorence, Italy — it 
was an old dream of 
Joseph Brodsky, the Russian- 
born poet, American Nobel 
laureate and Italophile, that 
Russian scholars, artists and 
writers should have a chance 
to live and work in Italy, to 
. draw inspiration from a cul- 
ture that tor half a century lay 
beyond their reach. 

Monday night,, at the mu- 
nicipal theater here in Flor- 
ence, his friend and fellow 
Russian 6migr& Mikhail 
Baryshnikov dedicated a solo 
dance performance to that 
dream, the first public fund- 
raising effort in a campaign 
that at the start will create 
special fellowships for Rus- 
sians at the American Acad- 
emy in Rome. 

A half year before his death 
of a heart attack in April 1996 
at the age of 55. Brodsky pre- 
sented Rome with a proposal 
for a Russian Academy, sim- 
ilar to other long-established 
national institutes there that 
serve as refuges for visiting 
scholars and artists. But his 
model was the American 
Academy, which is privately 
financed, where he first came 
in 1981 as a recent American 
citizen and where he returned 
many years after that. 

“He was dreaming of this 
idea." Baryshnikov said 
Tuesday night. He was con- 
cluding an 1 1-week European 
tour of a program of contem- 
porary choreography, per- 
formed with the White Oak 
Chamber Ensemble. “He felt 
so privileged and blessed by 
the inspiration of his Italian 
voyages," he said of Brod- 
sky, “that being naturally 
generous for others, he 
. wanted others to share it." 

The Brodsky Association, 
based in Rome and New York 
City, is seeking to create an- 


nual scholarships for Russi- 
ans so that they can take upa 
yearlong residence at the 
American Academy, while it 
collects money for a separate 
Russian institute. The idea 
was approved by the acad- 
emy's board a year ago, as a 
tribute to Brodsky. 

“Joseph Brodsky is the rea- 
son the board was so enthu- 
siastic about the idea, because 
he was so enthusiastic about 
the American Academy/’ 
said Adele Chatfield Taylor, 
the academy’s New York- 
based president. in a telephone 
interview. “We are ail car- 
rying the torch for his idea." 


The cultural links between 
Italy and Russia date back 
centuries, to the influence of 
Dante on Pushkin, of Italian 
opera on Tchaikovsky, of 
I talian Futurism on modem 
Russian art. 

In his proposal for a Rus- 
sian Academy, Brodsky ar- 
gued that Russian culture 
suffered deeply when those ■ 
links were artificially severed 
by die Soviet Union’s isola- 
tionist regime. 

“Much of what has tran- 
spired in Russia— in its men- 
tal climate, specifically — is 
this unfortunate break's di- 
rect result,” Brodsky wrote 
on a visit to Italy in October 
1995. "This country always 
was a revelation to the Rus- 
sians; now it can become the 
source of their renaissance." 

Brodsky, whose ashes 
were buried last June on an 
island cemetery in the Venice 
lagoon, was particularly in- 
debted to Italian culture, and 
his poems about Venice are 
prized by Italians as among 
the most moving, and mys- 
terious, testimonials to the 
city. “He loved Italy, and the 
influence it had on him/ ’ said 
his Italian-born widow, Maria 
Sozzani Brodsky. 


Carlos Fuentes: Exploring a Dark Borderland 


By Kyle Jarrard 

International Herald Tribune 


A USTIN, Texas — “Poor Mexico / poor United States / 
so far from God / so near to each other." Thus Carlos 


jfTL so far from God / so near to each other." Thus Carlos 
Fuentes ends his new novel, “The Crystal Frontier,” with a 

g linted rewording of a saying attributed to Porfirio Diaz. 

nly this time it’s not just Mexico's predicament; it's the sad 
condition of both countries. 

The two nations share a porous frontier along which there is 
a booming trade in workers, drugs and goods lorded over by 
the. likes of Leonardo B arioso, a Mexican mogul who runs 
factories, deals in drugs and contraband and whose power 
dominates this novel The narrator asks in “A Capital Girl," 
the opening story: “Was there anyone who didn't have 
something to do with or didn’t depend on or hofx; to serve Don 
Leonardo B arioso, czar of the northern frontier?” Each story 
reveals more about the “wealth and power provided by control 
over an illusory, crystal frontier.” 

For Fuentes, in Austin last month for the Texas Book 
Festival, B arioso is not the patriarch of Gabriel Garcia 
Marquez, bat an “economic tyrant’ * of a kind that ‘ ‘abounds 
in Latin America and in the world.” He's a character who is 
central to the society of Mexico, “where 24 families have 
more money than 24 milli on people." He’s an oligarch who 
marries off his son to a gorgeous girl from the capital, only to 
take the - woman for himself. That be should come to a bad 
end is only to be expected. 

“The Crystal Frontier' ’ is fiction, nonfiction, politics, eco- 
nomics, sociology and journalism all in one. “Anything drat . 
fits my purposes,” Fuentes says, “news from the world, real 
characters man highways. Even the American labor secretary 
make s his cameo." The Mexican writer visited the border 

orftbe cauldrons o/raisery 1 at Tijuana- San Diego and Ciudad 
Juarez-EI Paso. 

Tijuana-San Diego is ‘ The Line of Oblivion, " a tale based 
on a newspaper clipping Fuentes came across about an old 
man -who had been abandoned in his wheelchair on a 
racetrack by his family. "He was unable to speak, they had 
ripped all the tags and LD. marks off his suit, and he was 
found there,” Fuentes says. “Nobody knew who he was, why 
he was there, who had put him there. I found it a very dramatic 
situation and applied it to the possibility of an old man, an old 
left-wing labor leader, being abandoned exactly on the line of 
oblivion, that is, the line between Tijuana and San Diego.” 

It’s a political line, too, as seen in the contrast between 
Mexico’s relations with Texas and those with California. For 
Texas, the Neath American Free Trade Agreement has brought 
good ties. Califomia-Mexico is another story. Fuentes lays the 
quarrels over health and education benefits fix' immigrants to 
a “phobic element" in that state “who whip up a situation of 
animosity and adversity overproblems that could be solved in 
a diplomatic, rational way with a bit of good will ' ' 

101 will would also lead some (the wonVbe-amuseds) to see 
“The Crystal Frontier’ 1 as anti-American invective, especially 
in “Spoils/ ’ in which Dionisio Rangel, a cooking expat who 
champions Mexican cuisine, takes on American society. 



Uigur! IVnv* 

Fuentes criticizes both Mexico and the United States, 

“How would the country put itself in order when it was full of 
religious lunatics who believed beyond doubt that faith, not 
surgery, would take care of a tumor in the lungs? How, when 
the country was frill of people who dared not exchange glances 
in the street lest the stranger turn oat to be an escaped paranoid 
authorized to kill anyone who didn't totally agree with his 
ideas?” 

Fuentes has a reply for “politically conecr” reviewers, 
though. One is that the book is perfectly balanced between its 
digs at America and its stabs at Mexico. “We both have 
defects, that's part of the picture of the relationship.” 
Another response is more acerbic: “When I satirize Mexico 
I’m a great satirist. When I poke fun at the United States, I’m 
a mean, clichdd caricaturist. It is curions that one should 
always get pallid anemic WASPs as critics. ’ ’ 

The book was well received in Mexico three years ago. 
Translated into English by Alfred Mac Adam and published 
by Farrar, Straus and Giroux last month. “The Crystal 
Frontier” stands among Fuentes most accessible works, its 
“open" narrative style its strongest asset Lives on both 
sides of the border are approached as though the writer were 
a passerby who gathered bits and pieces of their doings and 
assembled these parts into a sort “glass membrane” through 
which the reader gets a magnified view of the reality of the 
borderlands. 

Some stories take place far from this dusty territory, in 


Chicago ("Las Amigas’ ’) where an old white woman makes • 
life miserable for a Mexican maid- but finds shecon team to 
love other people again after all, and in a New York office 
building (the title story*) where a young advertising executive . 
kisses a worker from Mexico City through "the crystal , 
' frontier.” the window of her office, 

"Malintzin of the Maquilas” eaters the world of the 
factories along the border, where women workers arc pawns 
in a huge garnw guided by B arioso's dictum; “The progress 
of the nation can be measured by the progress of the 
ossenfbly plants/ ’ The boss keeps the women off the beau- . 
tifal lawn in front of the plant during their breaks, but one; 
Marina, tests the system and runs onto the pass barefoot as 
Barroso looks down from his office window where he » 
holding a business meeting with Americans. Immediately, ' 
he fries to convince his visitors of his magnanimity: “Just 
look. Ted, he said to the gringo who was dry as a corncob 
pipe. Look at the joy, the freedom of those girls, tike 
they take in having done their jobs. What do you 
think? But Murchison looked at him skeptically, as if to say. 
How many tunes have you staged this little act?” 

It is a dark world where people seldom find solutions to 
their problems. “We are in such a fluid situation, in the- 
world/' Fuentes says, “that I think people are very worried 
about their place in the future. It’s a very anguishing situation 
for tike majority of the peoples of the wond as they sec the 
growing gap between haves and have-nots." 

“Rio Grande, Rio Bravo/’ the concluding story, is what' 
Fuentes calls an “epic chorus of the borderland” — the;, 
narrative songs of a troubled border guard, a woman factory ‘ 
supervisor, a railroad bandit, .a guide (coyote) for elandes- " 
tines, a frightened illegal immigrant, a Mexican in the U.S; 
Border PatroLand the young U.S .-educated Mexican doctor 
who tends to Barroso *s bullet-riddled body when he is 
viciously gunned down at the border. But the most telling of . 
all is Jose Francisco, an itinerant writer who rides his Harley- 
Davidson back and forth across the border with satchels full- 
of stories about the frontier. “Stories about famines, that was 
the wealth of the border world, the quantity of imburied 
stories that refused to die," manuscripts he losses skyward in 
the closing chares like "feathers that speak" of “each deed, 
each battle, each name, each memory, each defect, each 
triumph, each color, to the north of the Bio Grande, to the 
south of the Rio Bravo, let the words fly." 

Fuentes, 69, lives part of the year in London, to escape the 
mayhem of home, to avoid the public eye so he can write. He 
is 300 pages into a generational novel, “the story of my 
immigrant great grandfathers who came From Spain and 
Germany, to Veracruz" that tells “a whole century of 
Mexican life through a family. ' ’ 

For the author of more than 10 literary novels, Americans’ 
general disdain for “difficult” literature is not bis concern. 

' ‘I’m trying to write books that might last a little longer, even 
though they do not give the reader certain . . . facilities. ” In 
the end, he says, * ‘a book is like a bottle with a message in it 
that you throw into the sea. Maybe it will reach its des- 
tination. maybe it won't. But the thing is to be faithful to 
yourself.” 


THEATER 


Paul Simon’s ‘Capeman 5 : A Spotlight on Latino Music 


By Guy Garcia 

N EW. YORK — The percolating 
groove of a full- throttle mam bo 
. reverberated through the walls of a 
studio complex in Greenwich Village, 
where the cast of “TheCapeman/' 
the new musical by Paul Simon, was 
going through its paces. As the num- 
ber reached its climax, the festiveoess 
of a Nuyorican street fair was evoked 
by the singers’ swaying bodies and 
the vibrant tattoo of Afro-Caribbean 
drums. Even after the music had 
stopped, a buzz of exultation hung in 
the air. 

Though Simon will not appear in 
“The Capeman" and its opening 
night is still a month away, the show is 
already being hailed as a break- 
through cultural event that gives 
Latino musicians and actors the me- 
dia spotlight they long deserved. 

Based on the life of Salvador Ag- 
ron, 16, from Puerto Rico, who was 
arrested for the gang-related deaths of 
two other teenagers in New York in 
1959, Simon’s opera about social vi- 
olence and spiritual redemption spans 
three decades, several cultures and a 
slew of musical styles — from gospel 
and ’50s doo-wop to country and 
steamy tropical salsa. 

Directed and choreographed by 
Mark Morris with lyrics by Simon and 
the Nobel Prize-winning poet Derek 
Walcott, the show stars the Panamani- 
an singer Ruben Blades, the Puerto 
Rican diva Ednita Nazario and the 
contemporary salsa singer Marc An- 
thony. 

“It’s an American story,” says Si- 
mon. who sees ‘ ‘The Capeman' ’ as an 
extension of the polyrhythmic explo- 
rations he began with the albums 
"Graceland" and "The Rhythm of 
the Saints." (This month he released 
his new album. "Songs From the 
Capeman," a selection of tunes from 
the Broadway show.) 

“What is shocking to some people 
is that Puerto Rican culture is part of 
America," he adds. "The only thing 
different about this is that ir’s taking a 



culture that was marginalized and it’s 
presenting it as something main- 
stream/’ 

With its unorthodox plot, mostly 
Latino cast and salsa-infused score, 
“The Capeman" represents a chance 
for Latin music to take center stage in 
a country that has usually relegated it 
to the wings. 

"Non-Latinos who come to the 
show are going to hear a mix of dif- 
ferent Latin styles that hopefully will 
help to legitimize salsa for a larger 
audience," says Oscar Hernandez, 
the show's musical director and a 
producer who has worked with .salsa 
stars like Blades, Tito Puente and 
Celia Cruz. 

Even if “The Capeman” succeeds 
in popularizing salsa rhythms, it 
won't be the first time that Latin ac- 
cents have added spice to the Amer- 
ican mainstream. 

“There's been a lot of crossover,” 
says John Storm Roberts, author of 
* The Latin Tinge; The Impact of Lar- 


Sini KndmrhnV "tw tori Tunc* 

Marc Anthony, left, and Paul Simon at a rehearsal. 


in-American Music on the United 
States.” "Latino and non-Latmo mu- 
sicians have always worked together, 
just as there have always been more 
Latin musicians than anybody realizes 
playing non-Latin music. I dunk it just 
has to do with statistics. There are just 
more non-Latin os than Latinos.” 

Still, many Latinos resent the fact 
that, except for periodic dance crazes 
like the cha-cha, the mambo and the 
tango, the wealth and diversity of their 
musical heritage has remained largely 
invisible to most non- Larin os. 

“Latin music is not a fad,” says 
Blades. “These musics have never 
gone; they never left. “Some people 
today say it’s just a product, but 1 
don’t think so. Salsa is too visceral, 
the music is so pure — it's one of the 
last outlets for social identity.” 

Which is why, perhaps, some Lati- 
nos are waiy that “The Capeman” is 
just the latest example of mainstream 
exploitation or oversimplification of 
Latin themes. Simon, who has been 


criticized for appropriating African 
and Latin musical traditions, dismisses 
the issue as tiresopie and irrelevant. 

“It’s cot an interesting question," 
be says. “It’s about how badly you 
want to tell a story. Anyone can tell a 
story as long as they do it with re- 
spect.” 

It is precisely Simon’s respect for 
the rhythmic roots of salsa. Blades 
contends, that separates “The Cape- 
man” from watered-down interpre- 
tations of Latin music that have pre- 
ceded it "West Side Story was an 
adaptation, but in ‘The Capeman’ 
when you hear an aguinaldo, that's 
how it really sounds” he says. “It’s 
not an interpretation by the Houston 
Philharmonic. No, tint’s really the 
way Latino musicians play.” 

It doesn’t hurt, of course, that Si- 
mon has recruited some of the biggest 
names in salsa to headline the show. 
Blades, who plays Agron as an adult, 
is recognized as a leading salsa in- 
novator who, first as a singer in Willie 
Colon's band in the 70s and later as a 
solo artist, infused Latin dance music 
with socially conscious lyrics. He also 
broke boundaries by collaborating on 
bilingual projects with non-Latin 
artists like Lou Reed and Elvis Cos- 
tello. 

Anthony, who portrays the teenage 
Agron, has been associated with an 
urban strain of salsa called freestyle 
and has updated traditional Latin song 
forms with contemporary pop and 
hip-bop beats in best-selling albums 
like “Otra Nota” from 1993. 

“ ‘TheCapeman’ isnotashowcase 
for all Latin music, because salsa is so 
dynamic,” explains Anthony, who 
suggests that anyone who comes to 
the show expecting to hear the latest 
salsa trends will be disappointed. 
“It's not what's happening today. But 
what you hear is authentic. ” 

Guy Garcia, the editor of Digital 
City New York, an entertainment and 
lifestyle network that will launch- on 
America Online and the World Wide 
Web in January, wrote this for The 
New -York Times. 


W ORKS by Georgia 
O’Keeffe and John 
Singer Sargent sold for un- 
precedented prices at an auc- 
tion in New York. A Sothe- 
by’s spokesman said the total 
of $43.6 million earned Wed- 
nesday in New York exceeded 
the mark of $37.7 million for a 
sale of American paintings, set 
at the company’s auction* in 
May 1989. Most buyers re- 
mained unidentified. But the 
purchaser of O’Keeffe’s 
“From die Plains” was the 
Gerald Peters Gallery of Santa 
Fe, New Mexico, where 
O’Keeffe made her home for 
many years. The painting 
went for $3,632/500 — - the 
most ever for an O’Keeffe at 
auction; Sotheby's said the 
highest mice previously paid 
for an O’Keeffe was $1.98 


PEOPLE 


■ vt 

■ ■ ■ 

r X. - '• M- 








Row fYnuaer/ILtilrt* 


007 Bros nan gets a star. 


for the 100th anniversary of 
Brecht’s birth next year. 


This is definitely not a 
good year for VIP pew. After 
the furor in Britain over the 
fate of Humphrey, the ex- 
Downing Street cat. Czechs 
are now up in arms over the 
eviction of Dula, the pres- - 
idential schnauzer, from the 
presidential home. The press 
repotted that Dula had been 
evicted from President 
Vaclav Havel’s palace be- 
cause she was jealous of a 
newcomer. Sugar, a female 
boxer. Dula once was the fa- 
vorite pet of Havel’s first 
wife, Olga, who died two 
years ago. Sugar turned up 
with Dagmar, Havel’s;^ 
second wife. But it turns out ] 


million, in 1987. Six Sargents were sold for that Dula has been adopted by a member of 


$16.65 million, about half of that for the best- Havel’s staff, as Hu 

known work, “In the Garden, Corfu.” The of Prime Minister 

painting fetched $8362,500, well above the 

high estimate of $7 million. In a special sale 

within the auction, 21 worts by the American The latest actor to 

primitive artist Bill Traylor, who was bora a on the Hollywood 

slave in 1854 and took up drawing at age 85, Brosnan, who pla 1 


Havel’s staff, as Humphrey was by a member 
of Prime Minister Tony Blair’s household. 


within the auction, 21 worts by the American The latest actor to play 007 is star No. 2,099 

primitive artist Bin Traylor, who was bom a on the Hollywood Walk of Fame. Pierce 
slave in 1854 and took up dr awing at age 85, Brosnan, who plays James Bond in "To- 
were sold for a total of $777,700. The presale morrow Never Dies,” his second Bond 
high estimate was $500,000 for the body of movie, said he remembered strolling on the 
work. street as a tourist 16 years ago. “You never 

I-. figure you ’re going to end up on the sidewalk 

u . with a star,” he said. “This is very cool. But 

The chairman of Britain's Royal Opera above anything else, it’s an honor.'” 

House resigned Thursday after a blistering 
parliamentary report said a 1 ‘philistine” with Ll 

financial savvy could do the job better. But Alain Delon launched a series of 25 docu- ? 
while Lord Chadlington stepped down, the mentary films in Hong Kong on Thursday V 
chief executive, Mary Allen, stayed on, even called “The Best of France." Delon said the 
though some of the harshest criticism was aim of the series was to make France "better 
directed at her. The Royal Opera House said understood and loved." The documentaries 
that all die other members of the board had include films on French food, wines, per- 
offered their resignations. The other members fumes and monuments, 
are to stay on in a “caretaker" position, under 
James Spooner, the deputy chairman, until a D 

new board can be chosen. Lawyers for the memorial fund of Diana, 

r-j Princess of Wales, are trying to prevent a film 

— . . _ , being made about her and her relationship 

The house in Berlin where the playwright with Dodi a) Fayed. The lawyers said plans 
ft™* Brecht spent hs last three years, until by Kelvin MacKemrie, a former editor of the- 


1956, is to reopen to the public Friday after 
several months of being overhauled. The 


Sun Tabloid, to focus on their friendship were 
“inappropriate and insensitive.” MacKenzie 
called the lawyers' remarks "outraeeous cen- 


house, where the Brecht archives are kept, called the lawyers’ remarks "outrageous cen- 
was turned mto a museum in 1978 by the East sorship” and insisted that the film, "People’s 
German authorities and has been revamped Princess,” would be made early next year. 


^ ■ t • ? h , 

' ' * U C: ’ 




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