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INTERNATIONAL 


PUBLISHED WITH THE 


The World’s Daily Newspaper 



(tribune 


S AND THE WASHINGTON POST 


Paris, Wednesday, November 19, 1997 



No. 35,682 



Luxor Attackers Sought 
Cleric’s Release in U.S. 

Tourists Stream Home Trade Center Ripple 


_ AafftM/Apfljr FnMC 1 ftwri 

Prime Minister Kamdl Ganzouri, left, and President Hosni Mubarak visiting the Luxor massacre site Tuesday. 

U.S. Beefs Up Air Power Against Iraq 

B-52s and Stealth Jets Sent to Gulf as Russia Begins Mediation 


By Daniel Williams 

Washington Post Service 



MOSCOW — Diplomatic efforts to 
resolve the Iraq crisis picked up pace 
Tuesday as Russia was host to Iraq’s 
foreign minis ter and pledged to help 
ease sanctions on the country if Iraq 
agrees to let U.S. weapons inspectors 
resume work. 

But the meeting in Moscow came 
against the backdrop of increased U.S. 
military preparations in the Golf. Wash- 
ington said Tuesday that Iraq’s air de- 
fenses were extremely active, prompt- 
ing die United States to dispatch 
additional farces to the region. 

threat we spot in tfaearea,” a Defense 
Dep art ment spokesman said as he an- 
nounced that np 45 more military plffiies 
were bring made available to com- 
mandos in die Golf region, including B- 
52 bombers. 


One aircraft carrier is on station in die 
Gulf and another is on its way. 

The spokesman, Ken Bacon, said B- 
52 bombers and Stealth fighters would be 
accompanied by tankers an d other sup- 
port aircraft The armada will join 300 
U.S. warplanes already in (he region. 

The additional aircraft should arrive 
and be ready to fly tins weekend, Mr. 
B acon said. 

“This is a show of determination on 
oar part to protect our forces and see this 
affront to the United Nations aid as 
quickly as possible,” he said. ' 

An American U-2 surveillance plane 
flew a UN mission over central Iraq 
without strident on Tuesday,. 

‘ BOS* 

The United Stares floated an offer to 
Iraq on Monday of an increase in Iraqi 
oil sales to buy humanitarian goods. But 
the Iraqi representative at the United 
Nations, Nizar Hamdoon, said the pro- 
posal was a “nonstarter 1 ' because it did 


not address Iraq's goal of having sanc- 
tions lifted entirely. 

The li ghtning visit of Deputy Prime 
Minister Tariq Aziz to Moscow mo- 
mentarily placed Russia at the center of 
negoti ations with Iraq over Saddam. 
Hussein’s expulsion of six U.S. arms 
inspectors who were pan of a United 

See IRAQ, Page 11 


GmpledbjOMSutfFitmDdpml** 

LONDON — Overseas tour operators began flying hun- 
dreds of tourists home from Egypt on Tuesday after Islamic 
militants massacred 58 foreigners and four Egyptians at 
Luxor, one of die country’s main tourist attractions. 

“Thousands of tourists have already canceled visits to 
Luxor and most of those already bore decided to cm short their 
— — ” an Egyptian travel agent said. 

an empty aircraft flew from Britain to Luxor in southern 
to bring home people catting short their stay after die 
igs Monday, and four more special flights woe expected 
later in the day. 

Hotels in Luxor were solidly booked for the season, which 
started a month ago, but die town and its sites were virtually 
deserted Tuesday as terrified tourists who usually stroll along 
the Nile locked themselves indoors. 

fifty-right foreign tourists — mostly Swiss, Japanese and 
Britons « — were among the 68 people killed Monday outside 
the funerary temple of Queen Hatshepsut on the west bank of 
the Nile. At least 35 and perhaps 42 of the victims — many of 
whom were mutilated and hard to identify — were Swiss. Ten 
more were believed to be Japanese, most of diem young 
couples on their honeymoon. 

The authorities said a group of six or more Islamic militan t* 
opened fire indiscriminately on die tourists as they wandered 
around the courtyard of the temple. 

The United States, Britain, Germany and Japan were 
among die countries that advised their citizens against trav- 
eling to Luxor. 

Two hundred Italian tourists who were due in Luxor on 
Monday to take a cruise on the river and visit the Valley of the 
Kings and other sites were among the first to cancel their trip, 
tour operators said. Japanese and European travelers packed 
their bags overnight and prepared to leave Tuesday aboard 
special charters. Luxor airport officials said. 

One charter arrived early Tuesday from. London to re- 
patriate 50 Britons who were with die tour operator Thom- 
son. 

Clients of another company, first Choice, said they had 
received faxes from their operator in London advising them to 
leave Luxor. 

In Cairo, the director of the Pyramids, Zahi Hawass, said 
people stayed away Tuesday. 1 ‘A very small group of tourists 
showed up today,” he said. “On a normal day we get 4,000.” 

See LUXOR, Page 6 


CcapM bvOvSvffrtm DuptMcbci 

LUXOR, Egypt — The main Islamic militant group in 
Egypt claimed responsibility Tuesday for a massacre of 
tourists at an ancient temple in Luxor, saying it had wanted to 
force die United States to free the imprisoned spiritual leader 
of the World Trade Center bombers. 

President Hosni Mubarak, meanwhile, assailed the interior 
and prime ministers for the lax security around the site. “The 
area is foil of tourists,” he said, “and yon tell me police are 
two kilometers away. This is a joke of a strategy.” 

“We will take much tougher measures in the area,” Mr. 
Mubarak said to reporters at the temple of Queen Hatshepsut, 
where 58 foreigners and four Egyptians were killed by a team 
of at least six Islamic militant*, “We are going to close all 
entrances to the area, except the main gate.” 

Taking responsibility for the security lapse, Interior Min- 
ister Hassan Alfy submitted his resignation, which Mr. 
Mubarak accepted, citing a “deterioration in the security 
situation,” a spokesman for the presidential palace said. Mr. 
Alfy had held die job since 1993. 

Also Tuesday, a coroner’s report disclosed that some of the 
58 tourists killed Monday as they were entering the Hat- 
sbepsut temple had been stabbed after they had been shot. 

In a statement faxed to a Western news agency, the Islamic 
Group said its gunmen had not set out to kill die tourists. 
Rather, the statement said, they were Dying to take hostages to 
use as a bargaining chip with the United Stares. 

Witnesses, however, have not described any such attempt, 
saying instead drat the gunmen, disguised as police officers, 
climbed from their car and immediately fired automatic rifles 
at four groups outside the Pharaonic monument. 

The police said Tuesday that they had identified one of the 
gunmen as an Islamic Group member who has participated in 
previous armed attacks on police and government officials. 
The group has been blamed for most of the major violence 
during a five-year campaign to overthrow the government and 
impose strict Islamic rule. 

The Islamic Group, according to its statement Tuesday, 
was seeking to gain the freedom of Sheikh Omar Abdel 
Rahman, one of its founders. The sheikh was convicted in 

Iandmaxkslmduding the World fiadeCenter and the United 
Nations. 

The Islamic Group, also know as Jamaa I&Iamiyya, said it 
See MUBARAK, Page 6 





Just Sister to Sister: 
Criticism of Taleban 

Albright Addresses Refugee Women 
By Steven Erianger 

- • ■ New York Tana Service 

NASIRBAGH REFUGEE CAMP, Pakistan — The 
U.S. secretary of state, Madeleine Albright, on Tues- 
day issued ter harshest criticism yet of the Taleban 
movement that rates most of Afghanistan, calling its 
treatment of women and children “despicable.” 

Visiting a desolate mud-brick camp for 80,000 
Afghan refugees near Peshawar, 40 kilometers (25 
mfles) from Afghanistan, Mrs. Albright spoke proudly 
of ter own experience as a wartime refugee and of bee 
rise to America’s first female secretary of state. 

She urged her attentive audience of young Afghan 
.women and students to take charge of their lives, 
demand education for themselves and seek equality in 
their society. 

“It is impossible to modernize a nation if half or 
more of the population is left behind,” Mrs. Albright 


The F-1I7 Stealth fighter is among the U.S. warplanes ordered to the Golf. 




AGENDA 


Hostage Drama 
Transfixes Taiwan 

Taiwan's most wanted fugitive took 
a South African diplomat’s family hos- 
tage on Tuesday and demanded pas- 
sage out of the country with his wife. 

In a telephone interview broadcast 
live on Taiwan television, Chen Chin- 
hsing confessed to a string of 
murders. Holding the diplomat’s wife 
and two children at gunpoint m foeir 

home, he said, “I deserve to die. 

When Mr. Chen first burst into the 
suburban Taipei residence Tuesday 
evening, Pretoria’s military attache 
and his 22-year-old daughter woe 
shot and wounded. Mr. Chen allowed 
them to leave, and they were hos- 
pitalized in stable condition- ; 

The envoy’s wife, meanwhile, told 
Taiwan television that the simaiMffl m 
the home was “calm and peaceful. 

The police had been hunting for 
Mr Chen for months. Page 6. 


i he Dollar fl 

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1.691 

.. 1.6947 

Yen 

128.135 . 

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ctwnge u*«J«y O 4 P M 

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B 

The Czarina of Hate at Vogue 

Books 


. Page 12. 



Page 13. 



_ Pages 8-8. 



Pages 22-23. 



Thetotermarket 

Paget 4,10. 

| The IHT 

on-line w-.v’.v,;hi.cQm | 


said at die Bibi Mariam school for girls at the camp, 
which is helped by U.S. aid provided through the 
International Rescue C ommit tee. 

“If a society is to move forward, women and girls 
must have access to schools, be able to participate in 
the economy and be protected from physical ex- 
ploitation and abuse.” 

The Taleban, which began as a movement of fun- 
damentalist Islamic religious students in Afghanis- 
tan’s villages, took over Kabul in September 1996 but . 
has been unable to capture die northern part of the 
country. . 



BJL Hapli fUr Aw n r il ril ftm 

Madeleine Albright greeting refugees Tuesday at a camp in Pakistan, where she assailed the Taleban. 


After an early welcoming of coherent control in 
Kabul, U.S. officials were taken aback by abuses of 
human rights by the Taleban, and under Mix. Albright 
the State Department’s tone has grown increasingly* 
condemnatoiy. 

Pakistan, however, has recognized the Taleban, and 
Pakistan’s security services provide important help to 
the movement. 


Asked by a Pakistani journalist in Islamabad on 
Tuesday why Washington would not recognize die 
Taleban, Mrs. Albright said bluntly: “It’s very clear 
why we’re opposed to Taleban. We’re opposed to their 
approach to unman rights, to their despicable treat- 
ment of women and children and their lack of respect 

See ALBRIGHT, Page 11 


By Lena H. Sun 

WatewKiOB Post Service 


With One Chinese Dissident Freed, Another to Follow? 

Beijing Hints at Parole for Student Leader Wang Success of Jiang Visit to U.S. Decided WeVs Fate 

Mr. Clinton “was trying not to rub 
their faces in it because that would have 
been counterproductive,” said the of- 
ficial “The game was under way, and 
to mention the name could have prej- 
udiced the outcome.” Trying for years 
to secure the release of Mr. wex, Amer- 
ican officials hoped to push the issue 
during the first state visit to the United 
States by a Chinese leader in 12 years. 

Mr. Clinton raised the issue of Mr. 
Wei’s imprisonment during an informal 
meeting with Mr. Bang at the White 
House on Oct 28. 

The clearest signal of Chinese in- 

See SIGNALS, Page 6 


Reuters 

BEIJING — China hinted Tuesday 
that medical parole might be possible 
for the imprisoned dissident Wang Dan 
after it allowed Wei Jingsheng to seek 
1 trea t ment in die United States, 
tddressixig a news briefing, Sben 
Guofang, the Foreign Ministry spokes- 
man, (fid not answer directly when be 
was asked whether Mr. Wang would be 
freed. 

“I think this kind of situation in the 
occurred frequerahr,'* he said. “In 
future I think it will continue.” 

Mr. Wa was abruptly released on 
medical parole from a 14-year prison 
term Sunday. He arrived in the United 


States on the same day and remained 
Tuesday in a Detroit hospital for med- 
ical treatment 

Mr. Wei, 47, spent nearly two de- 
cades in prison, starting in 1979 for his 
role in die Democracy Wall movement 
and bis calls for Western-style political 
rights. 

Mr. Wang, 28, leader of student-led 
demonstrations for democracy that were 
crusted by the army with heavy loss of 
life in Beijing in 1989, was jailed for 1 1 
years last year for subversion. He had 
previously served four years for his role 
in the Tiananmen Square protests. 

See DISSIDENT, Page 6 - 


DETROIT — Under intense private 
pressure to release its most prominent 
political prisoner, China sent signals 
last month to the Clinton administration 
that Wei Jingsheng would be allowed to 
leave the country after a successful U.S. 
visit by President Jiang Zemin, accord- 
ing to a senior administration official. 

As a result, President Bill Clinton 
deliberately avoided mentioning Mr. 
Wei by name during a news conference 
in Washington with Mr. Jiang in which 
the two presidents disagreed about hu- 
man-rights issues. 


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After a 





By Warren Brown and Cindy Skizycki 

■ • WashitigUHi Past Service ' ■ 

WASHINGTON — After more than a year of 
debate, the government issued a rule Tuesday' 
allowing car owners to install switches to turn air 
bags on or off. 

The rule was a compromise designed to satisfy ; 
auto industry and consumer groups who say the- 
switches could lead to more road deaths, while* 
mollifying motorisis and passengera who fear the mr 
bags, which deploy forcefully, could injure them. 


U.S. Rule Allows Drivers to Disable Airbags 


The latest round in the air bag debate began 18 
months ago, after reports of several children bong 
lolled by the devices. President Bill Clinton and 
Transportation Department officials proposed that 
consomess be given broad discretion to disable 
their air bags. That proposal would have allowed 
consumers, to deactivate air bags without applying 
for government permission; it drew protests from 
the anto industry and consumer safety groups. - 
“This is an extremely complex policy issue, an 
administration official said. “We've heard argu- 
ments fromafi sides, fatte end, we think weeanra up 


with the best, most balanced 


sible.” 
to install. 


The switches will costas much as r 

auto industry officials said. According to a 1997 
study for T RW Inc., die world’s biggest air bag 
manufacturer, as many as 6 milli on car owners 
would deactivate their air bags if allowed to do so 
without having to get government approval - 
Under the final rule, a car owner wul request an 
application front die government and will receive a 
form along with information on the risks of dis- 
abling an air bag. The owner will “self-certify” 
that he or she qualifies, and submit the form for 


approval by the National Highway Traffic Safety 
Administration. The agency will send the owner a 
lener amhonzmg a mechanic to install the switch. 
The agency has no practical way of verifying the 

claims made by car owners who request the switch. 

according to administration and industry officials. 

m a switch would 
include having to sit too close to die steerinit wte*l 

affiwasaaaSsS 

ff&xssisissxsEr 





INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, NOVEMBER 19, 1997 


PAGE TWO 


The Clout of Anna Wintour / Vogue Chief Ascendant 

When an Editor Becomes a Persona 


By Robin Pogrebin 

New York Times Service 


N ;EW YORK — It was fashion week, 
and there was Vogue’s editor, Anna 
Wintour, at the Marc Jacobs show in 
. her usual front-row seat, wearing hex 
signature sunglasses and a Marc Jacobs gray 
waffle-knit cashmere sweater. 

When Ms. Wintour went backstage after the 
show this month to congratulate the designer, 
there was Man: Jacobs, air-kissing well-wishers 
in die same gray waffle-knit cashmere sweater. 

On the cover of November’s issue of Vogue, 
there is Stella Tennant, the model — in the 
Jacobs gray waffle-knit cashmere sweater. 

That is the glamorous, cozy world of Ms. 
Wintour. Perhaps no other magazine editor 
wields as much influence over the industry the 
magazine covers. Perhaps no other magn^ing 
editor is as personally involved in the pub- 
lication’s subject matter. And between them, the 
editor and her magazine leave no part of the $ 1 6 1 
billion fashion industry untouched. 

Now in her 10th year as Vogue’s editor in 
chief, Ms. Wintour has been both deified and 
demonized. Bnt however people in the industry 
feel about her personally, just about all agree Ms. 
Wintour has taken Vogue to a whole new block- 
buster level as the bible of fashion — and that she 
has become an icon in the process. 

"She has the star quality; she is a star," said 
the designer Oscar de la Renta. "There has never 
been a Vogue as important as Vogue is now." 

So far this year, advertisers have spent $124 
million in Vogue, according to Competitive Me- 
dia Reporting, an ad research firm in New York. 
And vogue’s publisher, Ronald Galotti, said he 
expected to end the year with close to 2,800 ad 
pages, making 1997 the best financial year in 
Vogue's 105-year history. 

When Ms. Wintour took over the magazine in 
July 1988 — after an undistinguished tenure as 
editor of House & Garden that followed a stint as 
editor of British Vogue — American Vogue had 
lost its edge. 

"Vogue needed fixing," said SJ. New bouse 
Jr., chairman of Goode Nast and its parent. 
Advance Publications, who said moving Ms. 
Wintour had to do with needing her at Vogue, not 
removing hex from what was then titled HG. 

Competition in die field has increased since 
Ms. Wintour joined Vogue. Among the top 
three, Elle — which had threatened to unseat 
Vogue just before Ms. Wintour took over — beat 
out Harper’s Bazaar for die No. 2 spot in 1994 
and now has 34.6 percent of the market (Vogue 
has 41.9 percent; Harper's Bazaar 23.5 percent), 
according to Competitive Media Reporting. 

In addition, Marie Claire and Mirabella have 
been nipping at Vogue’s heels. And television 
entertainment news shows have come to treat the 
world of fashion as the new Hollywood. 

But with a circulation of 1.1 million. Vogue 


Paying the Bills 

In issues pubBshed between January and 
October, Vogue has the highest ratio of 
advertising to editorial content among 
these fashion magazines. 

HARPER’S BAZAAR 

(June 30 circulation 705,027) 


Advertising 5-t.O ' 


ELLE (drcLiaflon 916,817) 


VOGUE (Circulation 1.1 million) 


Sources: Marfa Analysts; AucBt Bureau of emulations 


NYT 

seems secure for now in its position as the 
industry heavyweight. A strong economy and 
aggressive advertising sales have helped the 
magazine, but some say Ms. Win tour’s visibility 
and mystique are integral to its success. 

"She is a major player," said Fern Mallis, 
executive director of the Council of Fashion 
Designers of America. "Her influence is terribly 
important to our industry. Everybody in our 
business wants to have Anna on their side and to 
do something that pleases her." 

M S. WINTOUR’S POWER stems in 
large part from hex power base. As 
the Conde Nast flagship, Vogue is 
able to pay top dollar for location 
shoots, photographers, models, even die paper it 
is printed on. But because the wafer-thin, neatly 
groomed, meticulously appointed Ms. Wintour 
has become such a public figure, the industry has 
become as enthralled with hex personal style as it 
is with her magazine. 

"She's more, than just the editor in chief of 
Vogue," said Arie Kopelman, president and 
chief operating officer of ChaneL “She has 
become a persona.” 

Gossip columns and television enter tainm ent 
news shows seem to chronicle her every public 
appearance. Photographers at the fashion shows 
flash their bulbs in Ms. Wintour’s face as often as 
they do in Madonna’s. Designers look to her for 
ideas about materials, models and photograph- 
ers. Retail executives look to hex for advice on 
how to stock their stores. And people in die 
fashion business just plain look at her. 

"The Red Sea parts when she walks through 
the room," said Andre Leon Talley, a con- 
tributing editor at Vogue who has worked with 
Ms. Wintour fra - 14 years. 


Her look has been copied 
the world over page-boy hair- 
cut, big Chanel dark glasses, 
slim-legged pants, short skirts, 
stiletto heels with bare legs, 
tight sweaters. 

"The haircut and the sun- 
glasses we use in a lot of our 
ads and on our models," said 
Kal Rntteastein, fashion di- 
rector for Bloomingdaie’s. 

"We have done windows that 
purposely emulate her look. 

The fashion office looks to 
Anna to see what kind of ac- 
cessories she’s wearing. She’s 
a taste-maker." 

Seeing Ms. Wintour wear 
certain designers (Jacobs, 

CK wiel , Calvin Klein) and. in- 
vite them to her home for 
parties, some cry favoritism. 

And the fashion press has long 
been suspected of a quid pro 
quo when It comes to design- 
er’s advertisements: I’ll give 
you this many pages of ads if 
you feature my clothes in the 
magazin e. But Ms. Wintour 
insists that none of this influ- 
ences her editorial decisions. 

"Most of our major advertisers are people we 
put in the magazine anyway,’ ’ Ms. Wintour said at 
her Madison Avenue office. "It's a balancing act; 
you can’t only think about your advertisers.” 

That said, all other things being equal — if, 
she is deciding between two beaded evening 
dresses of comparable quality — she said she 
would go with the advertiser’s. "If I don't. I’ll 
hear about it," she said. 

Among fashion magazines, this seems to have 
become the conventional wisdom. 

"This is a business, and we are obligated in 
our business to be conscious of the people who 
support us," said Mr. Galotti, Vogue’s pub- 
lisher. “Ifwe have the same two dresses, I would 
hope in every instance we would choose our 
customer’s — and do.” 

Nevertheless, there are designers, like Mr. 
Jacobs, who do not advertise in the magazine, 
and have still received a generous share of cov- 
erage. "We don't have the money; our fashion 
show is our advertising.” he said. "It does not 
govern what Anna shows or what she pushes.” 

Indeed, Vogue under Ms. Wintour has be- 
come known for championing struggling new- 
comers and helping them along the way, like 
John Galliano, who — despite hard times — rose 
to become die designer at Givenchy and, re- 
cently, Christian Dior. 

“We kept putting his - clothes in the 
ma gazin e,” Ms. Wintour said. 

People in the fashion business say this apparent 
blurring of lines goes with the territory. Vogue 



cannot pretend to be an observer, they say. It has 
a vested interest in die health of toe industry, the 
success of designers, the strength of retail rales. 

"Just the way die staff of Variety, I suppose, 
live and socialize with movie people, we’re 
involved with retailers, designers, fashionable 
people,” Mr. Newhoose said. "Does it bother 
me? No. I don’t think issues of great ideological 
substance are involved.” 

Arid Ms. Wintour makes no bones about 
where her loyalties lie. "Designers have become 
really good friends of mine,’ r she said. “I don’t 
apologize for who my friends are.” 

Over die years, people in the industry have 
become fixated on Ms. Wintour’s personal life as 
well as an her fashion style. Much nas been made 
of her potential rivalry with Elizabeth TUberis, 
editor in chief of Harper's Bazaar; of her frost- 
iness, which inspired the phrases Nuclear Wintour 
and Wintour of Our Discontent; of die sunglasses 
that render her inscrutable, inaccessible. 

Her colleagues and associates describe her as 
direct, demanding and involved in every detail. 
"You know what she wants; she makes it very 
clear," said Katherine Beds, the magazine’s 
fashion news director. "She’s very tough. Sire 
can be intimidating, if you don’t understand 
where she’s coming from.” 

'Teople are always afraid of icons, and Anna 
has become an icon,” said Patrick McCarthy, 
chairman of Fai rchild Publications, which pub- 
lishes Women’s Wear Daily. "Bnt I don’t think 
she uses ho- power unwisely.’ ’ 


Look, Up in the Sky! It’s a Bird! It's a Plane! It’s a 



By Warren E. Leary 

New York Times Service 


WASHINGTON — Waiting in ambush, die 
soldiers hardly notice a small, birdlike device 
flying overhead. Later, however, those taken cap- 
tive wonder how the approaching enemy knew so 
precisely where they were hiding. 

After an earthquake, survivors trapped under the 
rubble of a collapsed building hope that rescuers 
find them in time. -Suddenly, what appears to be a 
large insect crawls out of tire debris, takes to die air 
and attaches itself to a broken support beam. 
Rescue workers arrive soon afterward. 


In a few years, researchers say, these scenarios 
could be real, a result of developing anew class of 
remote-controlled aircraft. In laboratories and 
workshops around the United States, engineers are 
pushing the state of the art in mmiatnrization to 


engaging them in stneet-to- street fighting in a city. 
Such microflyers could also be adapted to many 



Development 
vehicles, microflyers or airplanes-on-a-chip, is be- 
ing spurred by military interest in producing mini- 
ature intelligence-gathering planes. The Pentagon 
hopes the devices will give small military units 
direct access to reconnaissance data that could help 
them in battling an enemy just over a hill or one 


and wildlife, and keeping watch on border areas. 

But designing and making the devices are not 
simple tasks, engineers say. 

“Nothing about making micro air vehicles is 
going to be easy,” said William Davis, manager of 
the microflyer program at the Massachusetts In- 
stitute of Technology’s Lincoln Laboratory. 
"With planes t h i s small, all the rules change and 
everything becomes challenging.” 

At the sizes envisioned for the devices, normal 


No. 1 Industry 
In the U.S.? 
information 
Technology 


By Steve Lohr 

New York Tunes Service 


Sales by &e American computing 

and rwlBrnirminniRatin ns . industries 

have grown by 57 percent during the 1 
1990s, to $866 billion, making those, 
businesses an increasingly important 
force in the country's economy, ac- 
cording to a new study. 

The field of infor mati on technology 
— often defined as both computing and 
teleqommnmcatio ns — is the largest 
American industry, ahead of construc- 
tion, food products and automotive 
manufacturing, the study concluded. 

The study represents perha ps tire 
most comprehensive statistical portrait 
to date of what is called ‘ ‘tire new econ- 
omy” — populated by high-technology • 
companies that generate new wealth, 
new work practices and new challenges 
in public policy. 

it was sponsored by the American 
Electronics Association, a trade group,, 
and die Nasdaq stock market, which 
lists the shares of a large number of 
high-technology companies. 

The study, based on Commerce De- 
partment data, is titled “Cybernation: 
The Importance of the High-Technol- 
ogy Industry to foe American Econ- 
omy.” A large part of the report’s in- 
tended audience is in Washington, 
whore a growing number of high-tech- 
nology policy issues are being de-' 


■^351 


l.i 


aerodynamic rules no longer apply. Micraflyera 
will have to operate in anenvironment more com- 
mon to small birds and large insects than that of 
larger aircraft. 

The forces associated with air moving around the 
tiny devices are more pronounced than with an 
aircraft in flight, causing increased drag, reduced lift 
under the smaller wings at tow speeds and decreased 
propeller efficiency, engineers say. And such air- 
craft, weighing only ounces, are more susceptible to 
wind gusts, updrafts and the pounding of rain. 

Other challenges include developing tiny sen- 
sors, engines, and power sources, and commu- 
nications, control and navigation systems. 






Those issues include whether to es- 
tablish national educational standards, 
whether to relax export curbs on data- 
scrambiing software, whether to impose 
special taxes on Internet commerce and-, 
whether to raise immigration quotas to 
allow more skilled workers into the 
United States. 

For purposes of the study, telecom- 
munications was . grouped with com- 

S r hardware and software as a single 
mainly because the technologies 
are so closely linked. 

The high-technology sector, the 
study reports, generated 6.2 percent of 
the nation's output of goods and ser- 
vices in 1996 and employed nearly 43 
milli on people. Workers in the field earn 
wages 73 percent higher than foe av- 
erage wage in the overall private sector, 
the report shows. 

Productivity — or output per worker ■ 
— in foe high-technology field is also ; 
j sharply. From 1990 to 1996, as 
i-tBchnotogy revenues increased 57 
percent, to $866 billion, the report said, ■ 
employment rose 12 percent to 436 ; 
million. 

The revenue and employment figures 
in the study were assembled from the . 
government's statistics, grouped by 
type of business, a system called foie * 
standard industrial classification, or 
SIC, codes. The study included sales 
and jobs data reported by companies in - 
45 of these industrial groups. 

Using government statistics to define . 
a field as broad as high technology is ; 
tricky. Bnt some analysts say that the ! 
study's methodology was fairly con- - 
servative. For example, the report ex- ’ 
eluded semiconductor manufacturing • 
machines and electronic games because ; 
those two businesses fit into much < 
broader SIC groupings. 


* 

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Transport Strikes Are Set for Italy 

ROME (AFP) — Italian air traffic controllers and railroad 

workers angry are scheduled to strike this week over salary 

issues, union officials said Tuesday. 

Stationznasters were instructed by their union to stop work 

from 9 P.M. Thursday until the same time Saturday. State 

railroad officials gave assurances that trains that had already 

left when the strike began would arrive at their destinations. 

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Prague Cultural Mecca to Reopen 

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will reopen Monday after five years of refurbishment 
A meeting-place for such dissidents and intellectuals as 

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the anniversary of the beginning of foe Velvet Revolution in 

1989 that brought a peaceful end to communism. 

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BRUSSELS (Reuters) — The secretary-general of NATO, 
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Western military alliance was looking forward to the same 
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oemral Europe with some 

snow and flurries. A 

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bring soaking tain to south- 

ern Hal? and Greece. 


Asia 

Qufla cold wffi some snow 

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ls and Manchuria, but Be*- 
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INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, NOVEMBER 19, 1997 

EUROPE 


By William Drozdiak 

Washington Post Service 




v- *1 

■a 


■so 


x: n 

-i 

'■ «a 


mg evidence to- show dm 
bombing of the La BeUe dis- 
cotheque was conducted by 


bombing. Libya has denied 
involvement in both terrorism 
cases. 



state terrorism opened here 
Tuesday with five Libyan, 
Palestinan and German sus- 

S scte charged with murder in 
e 1986 bombing of a pop- 
ular nightclub that lolled 


knowledge of the Ctanmunist 

teflbaritics in East Berlin. - 

The orders few the bombing 
allegedly were sent by a lead- 
ing figure in Cataoel 
Gadhafi’s intelligence ser- 
vices who has been linked by 


three people and wounded, the United States to the Lock- 

Obfe bombing. 



■ :■( 
-tv 


■: i" > V? W 


more than 200 others. 

Amid tight security, the 
three men and two women 
accused of the crime were es- 
corted to seats behind bul- 
letproof glass as Judge Peter 
Marhofer told the court dm* 
the case’s volatile mixture of 
Middle East politics, Cold 
War espionage and terrorist 
bombs would produce “one 
of the most important trials in 
die recent history of Berlin.” 

The attack was traced to the 
Libyan Embassy in East Ber- 
lin^ and prompted President 
Ranald. Reagan’s decision to 
launch retaliatory air strikes 
. against Tripoli that killed at 
least a dozen people includ- 
ing the adopted daughter of 
the Libyan leader. Colonel 
Moammar Gadhafi. 

The violent U.S. response 
has been cited as a possible 
motive for subsequent Libyan 
involvement in the 1988 
bombing ofPan Am Flight 103 
over Lockerbie, Scotland. 

Prosecutors say they have 
cracked the case with the help 
of secret documents from 
East Gentian archives and ex- 
traordinary lack. They assert * 
that there is now overwhelm- 


Prosecutor Dieter Neu- 
mann said he and his T 1 ^ 
would prove beyond any rea- 
sonable doubt that Libya or- 
ganized the attack on die dis- 
cotheque in a Classic example 
of state-sponsored terrorism. 
He said early U.S. claims of a’ 
Libyan role — based on in- 
tercepted cables from the 
Libyan Embassy in East Ber- 
lin — were later confirmed by 
files from East Germany's 
state security service known 
as die Stasi, the testimony of 
former East German agents, 
and confessions by those im- 
plicated in the bombing. 

“Libya was behind the at- 
tack,” he said. “It was def- 
initely an act of assassination 
commissioned by the Libyan 
state. We also believe that the . 
Stasi had infeaxoatum about 
the impending ' attack and 
could have prevented it * 1 

The trial may have impor- 
tant political 
a time when Li 
overcome its 
ah state and the 
and Britain are 
the extradition 
suspects in the 



/ 

• > 


France Urges EU 
To Rethink Security 

It Wauls a Defense Arm With Teeth 


X 3 YOU LIVE !N 



» . * • ■ s 

* i : ■ 


“• * 


, M 


M 


The Associated Press 

ERFURT, Germany — 
Saying that efforts to forge a 
credible European defense 
identity within NATO have 
failed, France urged its Euro- 
pean Union partners Tuesday 
to rethink plans for a Euro- 
pean security organization. 

France’s foreign minister, 
Hubert Vedrine, said attempts 
since 1986 to breathe new fife 
into the Western European 
Union — the European Un- 
ion’s embryonic defense aim 
and the North Atlantic Treaty 
Organization's European pil- 
lar— have been fruitless. 

‘*We must conclude that 
the;actions of the WEU until 
no# have been modest," he 
said at a meeting of EU for- 
eign and defense ministers. . 

Mr. Vedrine cited the ‘in- 
ability to jointly deploy 
troops to Albania this year to 
secure deliveries of human- 
itarian aid amid civil unrest 
after the collapse' of pyramid 
schemes that cost many Al- 
banians their life savings. 

He suggested a voting sys- 
tem to end deadlocks that pre- 
vent the dispatch of European 
peacekeeping forces. 

In the case of Albania — 
after weeks of waffling by EU 
governments — Italy cobbled 
together a 6,000-strong mul- 
tinational force on its own. 


makin g a mockery of claims 
that tiie EU can jointly act to 
defuse a security crisis on its 
doorstep. 

In ihe aid, the WEU sent 
35 police officers. 

- Mr. Vedrine said that un- 
less EU governments gave 
tiuur defense arm some teeth 
and showed tite po litical will 
to gjve tiie WEU real sub- 
stance, “We, can see the 
WEU fade away.” 

France has longurgued for 
a stronger European profile in 
Njm 

Britain an^&e^r^S^teJ, 
are wary of tinkering with 
NATO far fear tins w^l de- 
couple Washington from its 
European allies. 

In 1994, the WEU became 
NATO's European arm, but 
this has not led the Europeans 
from taking on a bigger se- 
curity role in Bosnia where 
the presence of 8,500 U.S. 
troops is key to the success of 
tbeNATO-led,32,000-straog 
peacekeeping force there. 

Mr. Vednne denied that 
France sought to estrange 
Washington from its allies. 

“We also think it is im- 
portant to preserve the trans- 
Atlantic link but also to re- 
inforce the European capabil- 
ity to react in cases, when that 
is needed,” he said. 


fogs .was established in. testi- 
mony provided by a former 
' “ i diplomat who worked 
Benin at the time of foe 
e attack. The dip- 
lomat, Musbah Eter, showed 
mat the German Embassy in 
Malta two yeans agqu-aad 
offered to torn state’s evidence 
in. the cas just when German 
investigators feared it was 
heading toward a dead end. 

Mr. Eter described the 
of cables between the 
e’s Bureau and 
Said Rashid^ a top director of 
Libyan intelligence who has 
been linked to the Loekfcrbfe 
• case. He said Mr. Rashid dis- 
patched orders.far the bofob- 
ing of a prominent American 
target shortly after the United 
States sank two Libyan patrol 
boats in the Gulf of Srrte in 
Mach 1986. 

Mr. Eter also fingered 
Youssef Chraidi, a stateless 
Palestinian who worked at the 
Libyan Embass y, as the mas- 
termind of the attack on the 
night club, which was a 
hangout for U.S. raffifoiy per- 
sonnel. Mr. Chraidi had 
already been identified by an- 
other suspect, Ali Chanaa,-a 
German of Palestinian origin 
wltt wotfced in a Berim pizzer- 
ia and was unmasked as- a key 
East German informant on 
Libyan affairs when his name 
was found in Stasi archives. 

' Mr. Chraidi had left Ger- 
many but was arrested for car 
theft in Lebanon and extra- 
dited to stand trial on the basis 
of Mr. Eter’s testimony. Mr. 
Chanaa was indicted after he 
admitted that he bad helped 
assemble the bomb. 

Mr. Chanaa acknowledged 
that he persuaded bus wife, 
Verena Chanaa, to cany the 
bomb hidden in her handbag. 
She allegedly recruited her 
sister, Andrea Haeussler, the 
fifth defendant, to accompany 
her to theclnb so she would 
not look too conspicuous. 

Mr. Chraidi, Ali Chanaa 
and his former, wife, Verena, 
have been charged on three 
counts of murder and multiple 
counts of attemp ted murder. 
They face a ma xi mum pen- 
alty of life imprisonment All . 
of them have denied ihe 
murder accusations. 

Mr. Eter and Andrea- 
Haeussler have been charged 
as accomplices. Mr. Rashid 
and four other Libyan offi- 
cials are being sought for their 
roles in tiie case. 



IUI MmVMmz hoo-hoc 

BARBERSHOP TRIO — John Major, former Conservative prime minister, 
busily campaigning in Kent on Tuesday (or a by-election there on Thursday. 


BRIEFLY 


Danes Stage Election Preview 

Gains by Immigration Foes Likely in Local Voting 


Reuters 

COPENHAGEN' — Immigration, law and 
order and welfare were the main issues as 
Danes voted Tuesday in local elections that 
could shed light on the outcome of a general 
election expected next year. 

Right-wing anti-immigrant parties were 
expected to make significant gams bnt a se- 
nior minister in the center-left coalition gov- 
ernment dismissed suggestions that Denmark 
was becoming xenophobic. 

Finance Minister Mogens Lykketoft said: 
1 ‘There are some problems in certain quarters 
of Copenhagen suburbs, where immigrants 
live mainly on [welfare] transfer payments 
alongside Danes who are perhaps not the 
strongest members of society.” 

“Tins can take the form of racial tension. 


But I am not sure that we have a new, strong 
wave of xenophobia or that Danes have be- 
come racists.’* 

Opinion polls showed the Soda! Demo- 
cratic and Social Liberal Parties more or less 
holding their 35 and 23 percent support and 
tiie anti-immigration Danish People’s Party 
expected to make solid advances, winning op 
to 8 percent. 

In the local elections, 4 milli on Danes are 
eligible to vote for 17.700 candidates running 
for some 5,000 posts. 

Newspaper surveys said that care for the 
sick and elderly were major issues and that 
immigration was a big topic in Copenhagen, 
Aarhus, Aalborg and Odense, where most 
immigrants from Africa and the Middle East 
live. 


Turk Fights to Save His Party 


Strong Quake Shakes Greece 


ATHENS— Ast _ 

Richter scale rocked southwestern Greece on' 


6.6 on the 
.y,but 



Reuters 

ANKARA — The Turkish 
Islamic leader Necmettin 
Erbakan asserted before tiie 
constitutional court Tuesday 
that the government’s attempt 
to ban his Welfare Party for 
sedition violated internation- 
al standards of human rights. 

“Religions freedoms and 
the freedom of conscience are 
protected by states, bnt here 
we are using these issues to 
discuss closing a party,” Mr. 
Erbakan was raid to have told 
a closed session of tiie court 

“He concentrated on hu- 
man rights and freedoms in 
Turkey and tiie world,” 
Welfare Party member, Seref 
Malkoc, said to reporters. 

Mr. Erbakan, 72. is fighting 
for his political life against the 


attempt to disband his party. 
The court could also ban him 
from politics for five years. 

Mr. Erbakan reminded a 
panel of 11 judges that Tur- 
key was committed to human 
rights through such accords 
as the European Convention 
on H uman Rights and the Par- 
is Charter. 

The government has ac- 


cused Welfare of frying to im- 
pose Islamic law on Turkey 
and has called for the party to 
be banned. Ir has hinted that 
tiie death penalty might be 
appropriate for party leaders. 

Political analysts said that 
outlawing Welfare would only 
drive the party underground 
and increase the influence of 
its extreme elements. 


snter 

quake was 290 _ kilometers (180 miles] west- 
southwest of Athens in the sea south of the Ionian island 
of Zakynthos. „ 

People ran from their homes in the Peloponnesc cities 
of Patras and Pyrgos, and an empty house on Zakynthos 
collapsed, the ponce said. 

The quake rattled Athens, where furniture shook and 
doors swung on their hinges. Greek television said it was 
felt as far south as the island of Crete. (Reuters) 

Swiss Official Arrested in Italy 

ZURICH — A local government official at the bean of 
a Swiss corruption scandal has been arrested at his estate 
in Italy, officials said Tuesday. 

The official, Raphael Huber, sentenced by the Zurich 
district court in 1995 to five years in prison, has been 
living in Italy since the scandal came to light in 1991. _ 

* Mr. Huber, who was in charge of restaurant permits in 
the canton of Zurich, was found guilty of accepting 1.38 
million Swiss francs (then S1.2 million) in bribes. The 
court, which tried him in his absence, also ordered him to 
repay the money within three months, in addition to a fine 
of 200,000 francs. 

Swiss authorities had issued an arrest warrant only in 
Switzerland, giving Mr. Huber the opportunity to return 
on his own. But when the case came before an appeals - 
court on Monday and Mr. Huber still failed to appear, the . 
prosecutor announced he had issued an international 
warrant Italian authorities then took him into custody at 
his estate near Gaiole in northern Italy. (AP) 

Chubais Stays , Legislators Told 

MOSCOW — The Kremlin unequivocally told the 
Communist-led majority in Parliament on Tuesday that ; 
there was no point in frying to force President Boris 
Yeltsin to drop his economic guru, Anatoli Chubais. 

‘ Td tike to give some advice to the most radical pan of ’ 
the opposition,” the Kremlin’s spokesman, Sergei 
Yasttzhembsky, said at a news briefing. “Remember, it is . 
hopeless to talk to the president of the Russian Federation 
in terms of ultimatums and demands.” 

The Communists, the biggest grouping in the State 
Duma, or lower house of Parliament, said Monday that 
they would not even discuss the draft 1998 budget while 
Mr. Chubais, 42, remained in the posts of first deputy prime 
minister and finance minis ter. They softened their stance 
Tuesday and agreed to discuss the bill Friday. (Reuters) 

E U Overpaid Cereal Farmers 

STRASBOURG — The European Union paid its cereal 
farmers 3 billion ecus ($33 billion) too much in 1995 and 
1996 because of the bloc's inefficient farm policy, the 
European Court of Auditors said Tuesday. 

The court’s president, Bernhard Friedmann, said the 
overpayment occurred as a result of there being no 
provision in the EU’s Common Agricultural Policy for 
reducing subsidies paid to fanners in line with rising 
world prices. ( Reuters) 


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PAGE -6 


INTERNATIONAL 


;! 4 " 

1 


Taiwan Fugitive Seizes Family 

Nation Transfixed as He Says He Deserves to Die 9 

taidot Mr. Chea said he deserved to diefOThis role in 

^lAlrcI — Taiwan's most wanted fugitive the April kidnapping and killing of a television 
took a South African diplomat and his famil y actress’s rawing*? daughter, but added that her 
hostage on Tuesday and confessed to a series of death was die unintentional side effect of drugs 
killings in afetephone interview broadcast live she was given. 

on Taiwan television. Mr. Chen also confessed his involvement in 

“I deserve to die /’Chen Chin-hsing said as he the killing of a Taipei plastic surgeon, his wife 
held the diplomat's wife and two children at and nurse in October after a fellow fugitive, Kao 
gunpoint in their home. Tien-min, forced the doctor to alter his appear- 

“1 miss my child,” Mir. Chen said as the ance through plastic surgery. Mir. Chen said he 
diplomat's infant could be heard in turn cooing and 1!J 


crying in the background, 
deserve to die. 

The hunt for Mr. 


But I also know 
me. 

and two other suspects 


has transfixed Taiwan for months, prompting a nearby district 


did not undergo surgery. 

Mr. Kao kille d himself Monday night after a 
shoot-out wife hundreds of policemen who were 
tipped off that he was in a massage parlor in a 


backlash against the government's apparent in- 
ability to stem violent crime that has forced the 
resignation of a chief of police and an interior 
minister. 

Mr. Oxen demanded passage out of Taiwan 
with his wife and warned hundreds of heavily 
armed policemen outside not to storm the apart- 
ment building in the Taipei suburb of Poitou. 

Pretoria’s military attach^ to Taipei and his 22- 
y ear-old daughter were shot and wounded when 
Mr. Chen fust burst into their home Tuesday 
evening. Mr. Chen allowed them to leave for 
treatment, and they were in stable condition in a 
hospital. Mr. Chen was brought to the telephone 
by the envoy's wife, who told Taiwan Television 
that she was all right and that the situation was 
‘‘calm and peaceful.” 


Mr. Chen said he had to take foreign hostages 
to ensure that the police would not harm his wife 
and other relatives. "I know these foreigners are 
innocent, but the authorities will not listen to 
me,” he said. “My family are innocent, too.” 

The police rushed Mr. Chen’s wife, infant 
child and mother-in-law to the scene, but it was 
not known how the police intended to use them. 

Authorities had been on Mr. Chen’s trail for 
most of Tuesday, paralyzing numerous down- 
town districts as they responded to several un- 
confirmed sightings. 

While evading the police, Mr. Chen has de- 
manded that they release his wife and brother-in- 
law, who are being held as accomplices, and has 
warned that he would continue to commit crimes 
until their names were cleared. (Reuters, AP) 



IWcbao YcWApno: I 

A woman who was being held hostage by the Taiwan 
ftigjtive sitting on the edge of a window on the top 
floor of a five-story building in Taipei on Tuesday. 


March Toward the Center 

Colorado Springs Alters Image of Intolerance 

“We’ve had five years of cultural war 
ire, and it hasn’t done anything for the 

. ■ 1 *. i ■ ■ Ua aural. 


By Tom Kenworthy 

Washington Post Service 

COLORADO SPRINGS — In this 
picturesque city nestled against the 
Rocky Mountains — described just a 
few years ago as ground zero m .toe 
culture wars — nwderatiem ismalringa 
comeback. 

The birthplace of the state’s 1 992 anti- 
gay rights initiative struck down by toe 
Supreme Court last year, spawning 
ground for Colorado's tax rebellion ana 
home to so many fimHamwimKa re- 
ligious organizations that it has been 
called the “Vatican of evangelical 
Christianity,” Colorado Springs had a 
reputation — deserved or not — for 
intolerance and venomous, values-based 
politics. 

But as this booming metropolis of 
nearly 500,000 people heads toward die 
new century, moderate voices are being 
elected to its municipal offices, voters 
are approving new taxes to preserve 
open space awl onpe-polarized factions 
are meeting regularly and n ar row i ng 
their differences. 

And if those were not enough signs of 
change, consider this: Ground Zero, toe 
local gay organization founded in re- 
sponse to passage of the anti-gay rights 
initiative known as Amendment 2, has 
joined the Chamber of Commerce. 


Big Contracts Shelved, 
Southeast Asian Plunge 
Cripples Military Growth 


By Michael Richardson 

International Herald Tribune 


SINGAPORE — Military budgets, 
especially major arms purchases from 
-the United States and Europe, are be- 
coming the latest casualties of Southeast 
Asia’s financial turmoil and looming 
economic slowdown. 

Military outlays in most countries 
face sharp cuts over toe next few years as 
governments are forced to reduce spend- 
ing across toe board to revive investor 
confidence and prevent currencies from 
continuing to fall in value, according to 
officials and analysts. 

Thailand and Malaysia have already 
announced that a number of large arms 
purchases will be deferred indefinitely. 

“As the extraordinary growth rates of 
Southeast Asia's ‘tiger’ economies 
tumble, toe resources being allocated to 
defense are being sharply cut," said Rob 
-Walls, who retired this year from a senior 
post in toe Australian Navy. “The notion 
of a Southeast Asian regional arms race 
is losing the little credibility it had.” 

The prospect of several years of 
shrinking defense budgets is causing 
concern to some commanders. 

“The cutbacks threaten to slow down 
.our development into a modem military 
capable of fighting and winning a con- 
ventional war in defense of our borders,’ ’ 
General Mongkon Ampompisit, su- 
preme commander of Thailand's armed 
forces, told toe Asian Defense Journal. 

But analysts said that toe economic 
squeeze would also make military es- 
tablishments in Southeast Asia use their 
resources more efficiently and intensify 
cooperation with their neighbors. 

The downturn may also help the most 
competitive international arms mer- 
chants, such as Russia, further increase 
their share of toe Southeast Asian market 
at toe expense of Western suppliers. 

"Russian military equipment might 
well become even more attractive than it 
has been recently to a number of coun- 
tries strapped for cash but having ample 
commodities to trade for such equip- 


DISSIDENT: 

China Hints at Parole 

Continued from Page 1 

Mr. Wei’s release came just three 
weeks after a summit meeting between 
Presidents Bill Clinton and Jiang Zemin 
in Washington, where toe ILS. and 
Chinese leaders sparred over human 
rights. 

Mr. Shea said Mr. Wei's release was 
“not directly connected” to Mr. Jiang’s 
U.S. visit 

“There was no deal in this regard,” 
the spokesman said when asked if Wash- 
ington had agreed to let toe Chinese 
president visit in exchange for Mr. Wei’s 
release. 

"It had no direct connection to Jiang’s 
visit to the United States or Chinese-U.S. 


meat,” said Derek da Cunha, senior 
fellow at the Institute of Southeast Asian 
Studies in Singapore. 

In June, Indonesia — angered by U.S. 
congressional criticism of its human- 
rights record — canceled a deal to buy 
nine F-16 jets. It also pulled out of an 
American military education and train- 
ing program. In September, it signed a 
letter ofagreement with Russia to buy 1 2 
Su-30K long-range fighters and eight 
Mi-17 transport helicopters in a deal 
worth about $500 milli on. 

Planning Minis ter Ginanjar Kartas- 
asmita said Moscow had agreed that 
Jakarta could save some of its scarce 
hard currency by paying for toe whole 
package with Indonesian commodities. 

Malaysia already operates 18 MiG- 
29N fighters bought from Russia, while 
the Philippines is reported to be con- 
sidering buying the same aircraft and 
other Russian militar y equipment. 

With toe Thai defense budget for 1997 
likely to be cut by nearly 30 percent from 
toe planned $42 billion, and with other 
regional countries also feeing a squeeze. 
General Mongkon said dial members of 
toe Association of South East Asian Na- 
tions should consider joint purchases of 
common weapons ana ordnance to save 
money. ASEAN groups Brunei, Banna, 
Indonesia. Laos, Malaysia, the Philip- 
pines, Singapore, Thailand and Vietnam. 

With the baht down 40pexcent against 
toe dollar since July, the Thai militaiy has 
had to shelve plans fix- a U.S. deal worth 
more than $270 million to buy eight 
additional F/A-18 advanced jet fighters 
and 100,000 M-16A2 assault rifles. 

Also shelved were plans to buy a 
military surveillance and communica- 
tions satellite, two submarines, long- 
range artillery pieces and light tanks. 

Malaysia has postponed plans to buy 
six CSH-2 Rooivalk attack helicopters 
from South Africa and 88 armored in- 
fantry fighting vehicles from Turkey as 
part of an austerity program. 

Mr. da Cunha said that as arms ac- 
quisitions in Southeast Asia slowed to a 
more sedate pace, armed forces in the 
region should use toe time to correct 
deficiencies in the “less visible areas of 
militaiy power," such as logistics, com- 
bined operations, intelligence gathering, 
operational readiness and command, 
control and communications. 

Rodolfo Severino, the undersecretary 
of foreign affairs in Manila who will 
become secretary-general of ASEAN 
next month, said the group should ex- 
pand its security cooperation by im- 
proving consultation and confidence- 
building measures. 

" For example, ASEAN could conduct 
exercises in search and rescue and es- 
tablish coordinating mechanisms for dis- 
aster relief,” Ire said. “Reciprocal visits 
of defense and military personnel at all 
levels could be stepped up. Exchanges of 
information, including policy 
could be intensified. And an 
arms register could be considered. 



Ahdb AMd Nabjffiauicn 

Tourists at Luxor’s airport Tuesday. British tour operators began an airlift to evacuate shaken visitors. 

^“ d MUBARAK: Islamic Group Cla ims Attack on Tourists at Luxor 

udget for 1997 * - 


Continued from Page 1 

would pursue “military operations” un- 
less an' Islamic state was set up in Egypt 
and ties with Israel were cut The group 
also called for an end to submission to 
the United States. 

“The Jamaa urges all toe countries to 
advise their nationals against visiting 
Egypt to prevent them from becoming 
victims of our battle against toe Egyp- 
tian government,” it said in toe state- 
ment. 

* ‘The Jamaa will continue to carry out 
more military operations as long as toe 
regime fails to comply with our demands 
to enforce Islamic law, cut ties with the 
Zionist regime and stop submitting to toe 
U.S. administration,” toe statement 
said. 

Mr. Mubarak, who flew to Luxor to 
inspect toe site, called the attackers 
“murderers and criminals who do not 
belong to Islam or any other religion" 
the Middle East Press Agency repotted. 

During his visit, the president tried to 
reassure potential visitors that Egypt 


was still safe, saying, “We are capable 
of overcoming all of this," and adding 
"We are sure we can secure the area.” 

Although the government has round- 
ed up the Islamic Groin's top leaders 
and thousands of members, recent at- 
tacks show that some of its more radical 
members are at large. More than 1,150 
people have been killed since toe in- 
surgency began in 1992. 

The group's statement said: “In a 
courageous operation, a Jamaa unit tried 
to take prisoner the largest number of 
foreign tourists possible at one of toe 
tourist temples in Luxor, with the aim of 
securing toe release of toe general emir 
of Jamaa Islaauyya, Dr. Abdel Rahman, 
historical Jamaa leaders and sons, and 
other prisoners held in American and 


tut the rash behavior and irrespons- 
ibility of government security forces 
with regard to tourist and civilian lives 
led to the high number of fatalities,” it 
contended. 

The group said 15 militants carried 
out the attack, four of whom had been 


killed and two captured. Officials have 
said that cmly six gunmen were involved 
and that all of than had been killed by 
toe police. 

A day after the killings, scores of 
foreigners visited toe Hatshepsut 
temple, determined to stick to their 
plans. 

The massacre toll was first reported 
by the government as 7 1 , but toe Interior 
Ministry revised it downward Tuesday 
to 68 without explanation. The figure 
includes 58 tourists, four Egyptians and 
toe six gunmen killed by the police. 
Twenty-four people were wounded. 

Seven of toie foreigners slain were still 
unidentified Tuesday, bat toe police said 
the others included 35 Swiss as well as 
Japanese, Germans, Britons — includ- 
ing a child — a Bulgarian, a Colombian 
and a French citizen. 

At the temple Tuesday, saxes of po- 
licemen stood by with automatic rifles, 
while camera-wielding tourists wearing 
shorts and baseball caps clustered in 
small groups with their guides. 

(AP, Reuters, AFP) 


here, and it hast/ 

town except divide it and ruin its repu- 
tation,” said Greg Waite, a lawyer and 
longtime resident “People want to get 
ahead wife building a positive cotnmu- 

*John Weiss, publisher of toe Colorado 
Springs Independent, an alternative 
weekly, said: “Moderates are mobil- 
izing to rec laim this community.” 

To be sure, there are still plenty of 
skirmishes in toe schools over family 
values, sex education and the teach in g of 
“scientific creationism.” 

The local Republican Party structure 
is dominated by religious conservatives 
who last year imposed an anti-abortion 
litmus test on -candidates for toe state 
committee. And toe legislative delega- 
tion from toe area has a distinctly Wild 
West, patriot movement flavor to it 
. On the whole, however, the political 
pendulum in Colorado Springs appeals 
to be swinging back toward the kind of 
li ve-and-let-liv e attitude that has long 
been a hallmark of the West in general 
and this city in particular. 

Politics here nave always been right of 
center, influenced by toe local news- 
the Gazette-Telegraph, as well as 
a huge militaiy presence anchored at 
Air Force Academy, the army’s Fort 
Carson, the U.S. Space Command and 
other installations. 

But in the late 1980s and early 1990s, 
toe conservatism seemed to take on a 
hander edge as disputes over abortion, 
gay rights and other issues escalated. 

Amendment^ toe voter initiative bar- 
ring c o mmu nities from enacting ordin- 
ances protecting toe civil rights of ho- 
mosexuals, solidified Colorado 
Springs’s reputation in some circles as a 
(dace hostile to gay men and lesbians — 
and anyone else with alternative points of 
view or lifestyles. The amendment got its 
start here, pushed by a local organization 
called Colorado for Family' Values. 

There were other skirmishes. Under 
pressure from citizens opposed to pro- 
tecting tire rights of homosexuals, the 
city dismantled its h uman relations com- 
mission. Parents sued one school board 
to prevent the teaching of mythology 
until it added instruction on toe Bible, 
and they, protested a student-organized 
forum on diversity that was to include a 
discussion of homosexuality. 

. “It was very, vexy hard to be a gav 
person in Colorado Springs in 1992/’ 
remembers Katherine Pease, who now 
serves as executive director of the Gill 
Foundation, which from its office here 
funnels most of its $3 million in annual 
giving to gay causes. “It was hateful, 
and I don’t use that word lightly.” 

In retrospect, passage of Amendment 
2 may have been the high- water mark for 
Colorado for Family Values and its al- 
lies. Shocked by its success, moderates 
and progressives in Colorado Springs 
began.organizing to confront what they 
regarded as an intolerant minority] 

Several hundred joined a fledgling 
organization called toe Gtizens Project, 
whore goals are to promote pluralism, 
religious freedom and separation of 
church and state. 

In addition to monitoring attempts to 
inject religious instruction into the pub- 
lic school curriculum, the Gtizens Proj- 
ect publishes voter guides and conducts 
seminars in using toe political process. 

The business community, too, be- 
came alarmed that the city's reputation 
as a hotbed of political and religious 
extremism ought slow its growth, and 
now emphasizes recruitment of high- 
tech industries rather than nonprofit re- 
ligious organizations. 

Meanwhile, some less strident voices 
have been elected to city and school 
offices. Last spring, as a result, the new 
mayor and city council quietly and with 
little controversy adopted a policy of 
“zero tolerance” for discrimination of 
any sort, including on toe basis of sexual 
orientation, against city employees. 



LUXOR: Tourists Stream Out of Egypt and Others Cancel Trips 


Cbftotafiii RmtowM/The AamdMeJ ftw 

A Zurich woman embracing her 
brother on his return from Egypt. 


Continued from Page 1 

Three major British tour operators that 
send a large share of the 350,000 Britons 
who visit Egypt each year canceled all 
their flights to the country over the next 
three days. The travel company Airtours 
said it was arranging to fly home its 3S1 
customers in toe Luxor area, as well as 
about 300 customers of other compa- 
nies. 

Other British companies were offer- 
ing clients scheduled to travel to Egypt 
refunds or alternative vacations. 

“Tour companies will want to assess 
matters over the next 48 hours before 
deciding whether to pull out of Ei 
completely,” said Keith Betton, spol 
man for toe Association of British Travel 


Agents. “We shall be liaising with the 
Foreign Office and with toe Egyptian 
authorities to see what levels of security 
can be guaranteed. But a number of 
people seem happy to stay, and it's un- 
likely that all tours will be canceled.” 

The residents of Luxor, whose live- 
lihoods depend on tourism revenues, 
were shocked and angered by toe at- 
tack. 

“These terrorists should go to hell,” 
said Ali Abdel Hafez, who owns a shop 
selling papyrus and other local crafts. 
“We pray to God now that toe bad days 
to come will not last forever.” 

Nassreddin Ibrahim, another shop 
owner, said, “If toe situation gets worse 
many people will go bankrupt because 
they have invested a lot of money in 


tourism projects.” And a taxi driver, 
Koraycm Mohammad, said, “Even shoe 
shiners will be hurt by this.” 

Some residents said toe toll was so 
high because of “security gaps and neg- 
ligence on the part of toe police.” 

“The villagers were toe first, before 
toe police, to pursue toe attackers,’ ’ said 
Nubi' Mohammad of Guma, a village 
near Queen Hatshepsut’s temple. 

At the scene of the massacre, workers 
toiled overnight to scrub away blood- 
stains on toe columns of toe 4,500-j 
old temple, a security guard said. 

Despite toe killings, some tourists 
trickled back to toe temple Tuesday, 
including 36 people from Florida. “All 
of us decided to continue toe trip," Bon 
Watkins said. (Reuters, AFP, WP) 


-year- 


relations,” he said of Mr. Wei's parole. SIGNALS: China Linked WkVs Release to Success of Jiang’s Meeting With Clinton 

Asked if China was worried that Mr. o o 


Wei would continue to speak out against 
Beijing while overseas, be said: “We do 
not have any worries toward this.” 

Mr. Wei was in fair but stable con- 
dition at Henry Ford Hospital, where 
doctors said he needed more tests for 
heart and arthritic conditions. 


Continued from Page 1 


tendons came during toe two leaders' 
news conference. 

When Mr. Jiang was asked specif- 
ically about the cases of Mr. Wei and 
Wang Dan, a former student leader, he 

Hong Kongers March for Wang 

A band of Hong Kong activists solved gradually according to toe legal 


inarched to the gates of Beijing’s official 
mission in the autonomous region Tues- 
day to demand toe release of Mr. Wang, 
Reuters reported from Hong Kong. 

A dozen activists from toe radical 
April Fifth Action Group mounted a 
boisterous protest outside the Foreign 
Ministry Commission building on Hong 
Kong island. 

“The expression of one’s political 
view is no crime/’ said a leader of toe 
group, Leung Kwok-hung. 

“ft is toe Chinese government that is 
guilty/* he said. “It oppresses its own 
people." 


procedure by toe court of China.' 

That response, toe American official 
said, was a clear tip because it was a 
“forward leaning statement” 

In Mr. Jiang's private meetings with 
American officials, he also hinted that 
the matter could be resolved. 

In the past, the Chinese often have 
rebuffed Western pressure by sa; 
that the release of prisoners is an inf 
matter. 

The timing of the release — two and a 
half weeks after the official meeting with 
Mr. Clinton on Oct. 29 — appears to be 
another message from Beijing that it is 


serious about improving relations be- 
tween the two countries, the official sug- 
gested. 

As early as September, for example, 
the Chinese were telegraphing toe pos- 
sibility of Mr. Wei’s release, most no- 
tably when Justice Minister Xiao Yang 
.suggested that he might be paroled be- 
cause of poor health. 

By last month' it became clear to 
American officials that a release for Mr. 

Wei before toe summit meeting would 
“not look dignified” for China, toe of- 
ficial said. 

But if Beijing waited too long to make 
a gesture, it ran toe risk toot people turned. 

would forget “why they’re doing it,” he Shortly after the plane landed in De- 


Then, accompanied by two U.S. Em- 
bassy officials, he was escorted to a 
nonstop Northwest Airlines flight to De- 
troit. 

Before he boarded the plane, Amer- 
ican diplomats met with him to make 
sure that he understood the terms of his 
medical parole and that be was leaving 
China voluntarily, the U.S. official 
said. 

Any return to China would have to be 
“in accordance with Chinese law," se- 
conding to his parole terms, and since 
Mr. Wei is considered a criminal, that 
means he would be jailed if he re- 


said. 

Releasing Mr. Wei shortly after toe 
meeting provided "the right balance.” 

Mr. Wei, 47, was taken from jail out- 
side Beijing last Saturday night and was 
taken by the police to. the capital, where 
he was allowed to see his family for a 
few hours. 


trait on Sunday, Mr. Wei was token to 
Henry Ford Hospital. 

Dr. Thomas Royer, the hospital's 
chief medical officer, described Mr. Wei 
on Monday as "extremely positive and 
upbeat.” 

He remains in fair but stable con- 
dition, Dr. Royer said, is receiving treat- 


ment for hypertension and is undergoing 
tests. 

The hospital's main concerns are Mr. 
Wei’s cardiac and arthritic conditions. 
Dr. Royer said, adding that it was too 
early to tell when Mr. Wei would be 
discharged. 

At the dissident’s request, toe hospital 
is not allowing visitors except for his 
youngest sister, Wei Shansnan, who 
flew to Detroit from Germany, and a few 
activists from Human Rights in China, 
the Chinese exile group, based in New 
York. The organization will most likely 
help Mr. Wei settle once his health sta- 
bilizes. 

Even though Mr. Wei is exhausted, 
Xiao Qiang, executive director of Hu- 
man Rights in China, said that the dis- 
sident is excited^ about being reunited 
with his sister and friends tad talked 
with them about everything from -De- 
troit’s cold weather to ‘ ’what he thinks is 
important to advocate for other political 
prisoners/’ 


French Journalists 
Strike Over Tax 

Reuters 

PARIS — French journalists 
went on a one-day strike on Tuesday 
over toe scrapping of a tax exemp- 
tion the profession has enjoyed 
since toe 1930s. Most radio stations 
canceled news programs, but it was 
unclear whether newspapers would 
appear on Wednesday. 

The strike was aimed at pres- 
suring the Socialist government into 
reviewing a plan by the previous 
conservative government, adopted 
by the National Assembly last 
month, , to abolish toe exemption, 
which cut taxable salary 1 by 30 per- 
cent, up to a 50,000-fianc ($8,600) 
ceiling. 

Simflarprivilcges for about 70oth- 
er. professions, from airline pilots to 
fashion - models, are to be eliminated 
in an effort to increase revenue. 


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EDITORIALS /OPINION 


Heralfc 


INTERNATIONAL 



nnusHKD wmi the new vobk timfs and the Washington post 


A Deal for Baghdad 


Clinton ’s Sway Abroad Is Undermined at Home 


\ Saddam Hussein has lacked off a bit 

* demanding now not that Ame ricana be 
| altogether barred from the aims inspec- 
i boos teams but that they be there in no 
i larger numbers than Russ ians . Chinese 
| French and British. The Iraqi leader still 
■ does not get the basic point: It foils to 
; the United Nations, not to him, to define 
» the teams' terms. Bat it is good to see 
| him feeling the pressure. The United 
< States may be having its troubles mak- 
; ing policy; its reported interest in foi- 
; lowing Iraqi concessions cm inspections 
i with improvements in the food-for-oil 
J loophole needs to be handled carefully. 

> But Iraq is having its troubles, too. 

> Saddam Hussein’s first goal is to 
terminate the economic sanctions that 
the United Nations voted nearly seven 
years ago to force him to open op for 
arms inspections. He evidently thought 
the Gulf coalition's Graying made this 
the moment for a strike against sanc- 
tions and inspections alike. But the' 
coalition has been redrawn around 
keeping inspections going. Few mem- 
bers may yet be ready to join the United 
States in armed enforcement, but the 
mounting signs are that if Saddam 
Hussein persists in stonewalling, al- 
most all members would at the least 
tolerate an American-led reprisal. 

Bill Clinton has followed George 
Bush in largely — not entirely — sub- 
ordinating the goal of removing Sad- 
dam Hussein to containing him and 
enforcing (by sanctions) his compli- 


ance with UN resolutions. The require- 
ments of bargaining, however, have led 
President Qm ton to firm up his offer of 
an end to sanctions if Saddam Hussein 
will let the United Nations verify his 
claim already to have dismantled 
“everything” of his preparations for 
weapons of mass destruction. That of- 
fer is the “light at the end of the 
tunnel” that national security adviser 
Sandy Berger turned on Sunday. 

In denying dirty hands, the untie 
Saddam Hussein is lying. That is why 
inspections are obligatory to verify 
bom initial and continuing compliance. 
(Inspectors on the ground found and 
destroyed more “weapons capacity,” 
Mr. Clinton says, than all the bombs in 
foe Gulf War.) But in return Iraq gets 
the sanctions lifted. This (teal is fair 
and worthy of international favor: 

There is much speculation about 
whether Mr. Clinton has the stuff to 
credibly threaten heavy military action 
(no more pinpricks, please) and, if nec- 
essary, to deliver. Saddam Hussein 
cranked up tins crisis obviously think- 
ing one way. All of us may soon learn. 
What we should already know is that 
he cannot be trusted, must be con- 
sidered permanently dangerous and 
must be watched and policed not just 
while this crisis unfolds but as long as 
he holds power. An infringement on 
Iraqi sovereignty? Yes, definitely, and 
an imperative for foe rest of us. 

— THE WASHINGTON POST. 


Wei Jingsheng Freed 

Release All Critics ato 


After spending all but six months of 
the last 18 years in prison. Wei Jing- 
sheng, foe father of China 's democracy 
movement, has been released to get foie 
medical attention he has long required 
The world has reason to rejoice that foe 
cruel imprisonment of Mr. Wei is over 
and that he is resting in a hospital in 
Detroit But his release is not neces- 
sarily an indication that foe Chinese 
government is changing its repressive 
policies on human rights. • 
According to his family, Mr. Wei, 
who is 47, repeatedly said he did not 
want to accept an offer of freedom that 
did not allow him to remain in China. 
They said he has done so only because 
his health has deteriorated badly pie 
suffers from heart problems, high 
blood pressure, arthritis and other ill- 
nesses) and because the government 
made his confinement intolerable Pris- 
on officials incarcerated Mr. Wei with 
thugs who were rewarded for beating 
him, and after that put him for months 
in a cell with no heat and constant light 
He was denied medical care and for- 
bidden to write or read anything except 


Nevertheless, by releasing Mr. Wei 
Beijing has satisfied an important de- 
mand of the Clinton administration and 
human rights groups. Thai it did so just 
days after President Jiang Zemin vis- 
ited America may be a signal that 
China’s leaders are prepared to address 

Exile for a Hero 

Wei Jingsheng, although tired and 
ill, is as upbeat and good-humored as 
ever, according to those who have had 
contact with foe just released Chinese 
dissident. This is a pretty .remarkable 
condition for a man who has spent all 
but about half a year of foe past 18 
years in prison — tortured, malnour- 
ished, in isolation — and who has now 
been forced into exile. But it has been 
clear for a long time, despite all the 
barriers that China’s government tried 
to erect between Mr. Wei and the 
world, that he is a man of uncommon 
courage and temperament. 

Mr. Wei first attracted attention in 
1978, when he posted on Democracy 
Wall an article arguing that China 
needed to become more democratic to 
achieve frill prosperity. For this he re- 
ceived a la-year sentence. China’s 
rulers released him in (993. when they 
were trying to win their bid to host the 
Olympics; it was then that he refused to 
leave his cell unless his jailers gave him 
copies of the correspondence that be 
hod been writing, ana that they had not 

been sending, all those years. Once free, 
he con tinned to speak oat for liberty, 
and he was soon imprisoned again. 
Now he has been freed “on parole for 
medical treatment,” apparently on con- 
dition that he leave China. 


international concerns about their hu- 
man rights record 

Mr. Wei should never have been in 
prison to begin with, and neither should 
anyone else in China whose only crime 
is peaceful dissent. Over the weekend 
Chin a detained Lin Xinshu, a dissident 
who wrote two open letters demanding 
Mr. Wet’s release. At a minimum. 
China should release all its critics. 

Real progress on human rights, 
however, must involve an end to foe 
Communist Party’s control over 
China’s legal system. Laws prohibiting 
political expression 'and assembly 
should abolished China has had 
anything like a real legal system only 
since 1979, when Deng Xiaoping vrrote 
new legal codes and reopened law 
schools that had been closed for 30 
years. Lately, China has made small 
improvements to bring those laws 
closer to international standards. But 
laws still do not protect the rights of 
China ’s people, or assure equal justice. 

Once Mr. Wei recovers his health, 
his challenge will be to avoid the slide 
into irrelevance that has stricken many 
of his exiled dissident colleagues. Out- 
side China their voices have faded, 
which is one reason why Beijing is 
willing to let others go. Judging from 
his conduct in prison, he is a resource- 
ful and persistent man who will con- 
tinue to annoy foe Chinese leadership 
with his arguments for democracy. But 
he will not be truly free until he can 
speak out inside China itself. 

— THE NEW YORK TIMES. 


It is impossible not to rejoice in this 
brave man’s freedom. It is also im- 
portant to remember that his release 
does not indicate any general easing of 
internal controls, any' more than Leonid 
Brezhnev was ready to loosen op when 
he sat Alexander Solzhenitsyn into 
exile more than two decades be tore the 
Soviet Union collapsed. Thousands of 
prisoners of conscience remain: Wang 
Dan, the student leader of the 1989 
Tiananmen demonstration; LiHai, sen- 
tenced to nine years for compiling a list 
of Tiananmen protesters still behind 
bars; foe 77-year-old Catholic bishop 
Zeng Jingmu; foe Tibetan abbot Cbad- 
rel Rinpoche, and so many more. 

Mr. Wei’s release doily resulted 
from outside pressure. Bill Clinton 
raised his case in discussions with Bang 
Zemin. Some will argue that foe pres- 
sure succeeded because it was quiet and 
deferential; others will say that even 
more could have been achieved if more 
had been sought Whichever view is 
correct. Mr. Wei's release reaffirms the 
importance of keeping human rights 
high on foe U.S .-Chinese agenda, both 
for systemic reform and for individual 
cases. And foe release raises again die 
question that Mr. Weihimselfhas asked 
in foe past: Why is foe Chinese regime 
so afraid of a single person peacefully 
advocating democracy that it must keep 
him in jail ex - half a world away? 

— THE WASHINGTON POST. 


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W ASHINGTON — The show- 
down with Saddam Hussein 
comes at an awkward time for foe 
United States. Not only is foe inter- 
national coalition foot George Bush as- 
sembled when Saddam last played the 
bully showiqg signs of unraveling, but 
Bill Clinton’s foreign policy support at 
home has rarely looked shakier. 

True, foe House of Representatives, 
before adjourning late last week, gave 
President Clinton its blessing to use 
U.S. military forces if diplomacy foils 
to persuade the Iraqi dictator to allow 
resumption of United Nations inspec- 
tions of suspected chemical and bio- 
logical weapons caches. But that 
hardly made up for the damage in- 
flicted on Mr. Clinton in the final 
weeks of foe session — and earlier. 

The House of Representatives 
blocked a vote on giving Mr. Clinton 
foe same trade negotiation authority 
that previous presidents had been gran- 
ted, balked at carrying out a U.S. com- 
mitment to repay its back debt to the 
United Nations, and denied new U.S. 
funds for foe International Monetary 
Fund’s currency stabilization work. 

The first rebuff was administered by 
Mr. Clinton’s fellow Democrats, who 
were dissatisfied with his assurances 
that he would not trade away U.S. jobs 


By David S. Broder 


to foreign competitors. The last two 
setbacks came from House Republi- 
cans, retaliating for Mr. Clinton’s re- 
fusal to bow to their demand to cripple 
international family p lanning pro- 
grams over the abortion issue. 

Whatever the source, the impact 
abroad was foe same: to raise doubts 
about Mr. Clinton’s ability to act for 
America on foe world stage. The 
wobble in U.S. leadership is tne worst 
it has been in decades. 

The day after the fast-track legis- 
lation was pulled to avoid defeat in the 
House, The Washington Post quoted 
Joh ann es Heir man, an official of the 
UN Economic Commission for Latin 
America and foe Caribbean; “I think it 
puts America at a major disadvantage 
in negotiating free trade agreements in 
the future. There is a lack of confidence 
now, an enormous disillusion.” 

When the House refused to appro- 
priate the $926 milli on that the United 
States owed in back dues to the United 
Nations and also stripped out authority 
for$3 J billion in loan guarantees to the 
IMF, The New York Times reported’ 
that Mr. Clinton “l 06 t two of his top 
foreign policy initiatives [and] could be 


hamstrung when it comes to dealing 
with two looming crises,” Saddam 
Hussein’s threats and the turmoil in 
Asian currency markets. 

These latest rebuffs to Mr. Clinton's 
foreign policy underline a little noted 
pattern of congressional intransigence 
during his presidency. It began in 1994, 
when Congress refused to endorse has 
use of U.S. troops in Haiti. Leaders of 
foe Senate, then under Democratic con- 
trol, had to scramble to prevent a vote 
formally opposing military interven- 
tion. Altec foe troops went in, both 
chambers called for "prompt and or- 
derly” withdrawal 

At foe beginning of 1995, Mr. Clin- 
ton asked Congress to underwrite a $40 
billion loan guarantee to Mexico to 
contain a peso crisis which he said 
threatened foe economies of die whole 
Western Hemisphere. A week later, 
facing what The Associated Press 
called “unyielding opposition in Con- 
gress,” he abandoned the effort and 
instead used his executive authority to 
provide a smaller loan — all of which, 
incidentally, was repaid with interest 
ahead of schedule. 

Late in 1995, Congress balked al 
backing Mr. Clinton's policy in Bosnia. 
The House voted to oppose his deploy- 
ment of troops; even with the vanguard 


of U.S. farces in that country, it came 
within eight votes of cutting off fends 
for the operation. The Senate, which 
earlier forced him to veto a bill ending 
foe embargo on aid to Bosnian Muslims, 
defeated aresolution denouncing the use 
of U.S. forces by only five votes. 

When I recited this record of non- 
support for Mr. Clinton’s international 
policies to a senior White House of- 
ficial last week, his only comment was: 
"The Cold War is over, you know.” 

It is certainly the case thaz foe dis- 
appearance of a nuclear-armed Soviet 

threat hag itiminiahe d deference tO foe 

president’s judgment on matters that be 
say s involve the national interest But 
his failure to mo bi lise public opinion 
behind any of these initiatives is also 
part of foe story. And it raises foe 
question of what will happen next 
spring, when he seeks Senate approval 
of bringing three new countries into 
NATO at the same time that he ap- 
parently will have to try to extend foe 
deadline for the promised withdrawal 
of U.S. troops from Bosnia. 

To avoid a truly crippling repudi- 
ation of his leadership, President Clin- 
- ton will have to discuss foreign policy 
with foe American people in a way that 
he has avoided for five years. 

The Washington Post. 


Crisis With Iraq, but the World Oil Market Looks Steady 


P ARIS — As the world 
watches to see whether 
Washington or Baghdad will 
blink first, oil market profes- 
sionals are concentrating on 
events in Jakarta, half a world 
away from foe Middle East. 

The Indonesian capital will 
host a meeting next week of 
OPEC minis ters who may well 
decide to increase foe world’s 
oil supply, thereby potentially 
lowering prices. 

Whatever OPEC may do next, 
foe markets have already made 
clear that Saddam Hussein’s 
satire-rattling leaves them cold. 
When the UN Security Council 
voted on Thursday to condemn 
Iraq’s ouster of American 
weapons inspectors, foe price of 
West Texas Intermediate crude 
blipped up by 28 cents (a mere 
1.5 percent), then lost 5 cents of 
even that modest rise. 

Students of the market believe 
that WIT will trade in a range of 
$19 to *$22 for the next few 
weeks, while North Sea Brent 
will fetch from $ 17.50 to $20 JO. 


By Robert Priddle 


Note that both these benchmark 
crudes will be selling for about 
the sane price (adjusted for in- 
flation) as in 1973. on the eve of 
the first oil shock. 

How times have changed! 
Just 24 years ago, some Middle 
East oil producers . could 
threaten the economic health of 
the United States, D enmark and 
the Netherlands simply by re- 
fusing to sell them oil. Even 
seven years ago, foe prospect of 
a military standoff between Iraq 
and an American-led coalition 
of countries could .trigger tur- 
moil in foe markets. 

During the run-up to Desert 
Storm, crude petroleum prices 
spiked up by an alarming $16. 
or SO percent. Today the pros- 
pect that Iraqi oil might dis- 
appear from foe market causes 
scarcely a ripple. 

Why? The answer is com- 
plex, involving such arcane 
factors as futures trading and 
foe El Niflo climatic phenom- 


enon. But clearly a major ele- 
ment is foe fact that foe in- 
dustrialized importin g nations 
have joined together to oppose 
turbulence in energy markets. 

In the framework of the In- 
ternational Energy Agency. 24 
of the world's wealthiest nations 
maintain oil stocks equal to 90 
days of net imports. They are 
pledged to act together to replace 
any sudden loss of supply. 

In 1990 they did just that. EEA 
members offered 2 milli on bar- 
rels a day of oil and oil products 
for rale, while acting to cut de- 
mand. Panic buying stopped. 
Prices slumped back to previous 
levels and stayed there. 

Iraqi exports under foe UN- 
sponsored oil-for-fbod program 
have been running at 500.000 to 
800.000 barrels a day, compared 
with 3 million tanels seven 
years ago. Current Iraqi offer- 
ings are less than 2 percent of the 
world's production, and less than 
3 percent of all internationally 


traded oiL This is a considerable 
amount in absolute terms, but 
mar ginal in a world that pro- 
duces 70 mfllion barrels a day. 

There is no shortage of sup- 
ply from other sources. In foe 
past decade OPEC members 
have consistently produced 
above the quotas that foe or- 
ganization has set If the Jakarta 
meeting does approve higher 
quotas, they are likely to save 
mainly to legitimize current 
overproduction. 

OPEC remains a primary 
source for foe world’s petro- 
leum, accounting for 41 per- 
cent But it now competes with 
such robust suppliers as Nor- 
way, Britain and Mexico, and 
with other energy forms, espe- 
cially natural gas 

With oil prices much lower 
than they were 20 years ago in 
real terms, the poorer and more 
highly populated OPEC mem- 
' bers are constantly tempted to 
exceed their production quotas 
in order to earn dollars for ur- 
gent development needs. 


Items for an APEC Agenda to Help Set East Asia Right 


V ancouver— T he com- 
ing summit provides 
APEC with an opportunity to 
show that it is about more than 
providing photo opportunities 
tor leaders and earnest discus- 
sion on petty issues for bureau- 
crats. It cannot solve the prob- 
lems of East Asia, but the trans- 
pacific link it represents has a 
chance it prove its worth. 

If members can reach an un- 
derstanding of foe interlinkages 
of their financial, trade and cur- 
rency problems, they can ad- 
dress causes rather than fret 
over symptoms and identify 
speculator scapegoats. - 
Otherwise, there is a real 
danger of competitive devalu- 
ation, falling asset prices and 
rising trade tensions* creating 
havoc for most APEC mem- 
bers. Europe and the rest of the 
world would suffer, too. 

The problems of Japan. 
South Korea, Southeast Asia 
and China are superficially very 
different Most notably, some 


By Philip Bowling 


have too much foreign ex- 
change, others too little. But 
underlying foe separate diffi- 
culties are two fundamentals. 
The first is excess capacity. The 
second, partly a result of the 
first, is shaky banking systems. 

Years of weak Japanese do- 
mestic demand have helped 
boost global liquidity and been 
a major cause of a surge of 
investment throughout a region 


lem. But export to where? 

Clearly it cannot be to each 
other. But to the United States, 
which already has a $100 billion 
trade deficit? Or to Europe, itself 
trying to export its way out of 
unemployment and prepare for 
monetary union? Japan and 
China are frying to export then- 
way oat of recession, and the rest 
of East Asia (except Taiwan) to 
export its way out of debt 

Weak domestic demand in 


Japan means a weak yen that 
destabilizes Sooth Korea and 
Southeast Asia because of their 
dollar debts. But if foe Bank of 
Japan is to support foe yen, it 
must sell dollar assets, which 
could drive up long-term in- 
terest rates and threaten the U.S. 
import boom that is the region’s 
main lifeline. 

Japan, with its huge reserves, 
is in a position to stabilize foe 
region in foe short term. An 
Asian rescue fund linked to foe 
IMF but with sufficient re- 
sources to cope with foe huge 
debt problems of its neighbors 
may also prove possible. 

But Japan’s own problems of 
aging population, huge public 
sector deficit, weak financial 
system and abysmal returns on 
investment are an impediment to 
foe kind of role in Asia that foe 
United States has played in Lat- 
in America. It is not big enough 
to act an its own, and must be 


Netanyahu and the Israeli Press 


T EL AVIV — I can’t speak 
for the Israeli press, but 
this much I know: There is 
nothing comical about the 
harsh criticism of Prime Min- 
ister Benjamin Netanyahu in 
the Israeli media. Nor is there 
anything funny about growing 
doubts among Israelis, as well 
as among world leaders, con- 
cerning Mr. Netanyahu’s 
political mode of operation. 

These references to the 
ludicrous follow a sweeping 
accusation of foe Israeli press 
by A.M. Rosenthal (IHT 
Opinion. Nov. 15-/6). While 
highly praising Mr. Netan- 
yahu, the column said be is 
vilified by “a press almost 
comically biased against 
him,” and by foreign govern- 
ments “that do not forgive him 
for defeating Shimon Peres." 

Concerned observers of the 
Israeli scene may indeed won- 
der how Mr. Netanyahu's do- 
mestic and international repu- 
tation has dropped so for. 

An articulate, well-wishing 
man with scant pblitical ex- 
perience bad in no time swept 
Likud and won the 19% elec- 
tions against the country’s 
most agile statesman. 

And then, gradually yet 
swiftly, so many turned 
against him, severely ques- 
tioning his credibility. The list 
includes Bill Clinton (wbo Ibis 
week is intentionally avoiding 


By Gideon Samet 

a meeting with Mr. Netan- 
yahu. while demonstratively 
entertaining Lea Rabin and 
Mr. Peres for lunch), Euro- 
pean leaders, almost all of his 
own party’s top echelon, and 
most Israelis who anointed 
him as their fastest ascending 
(and youngest) leader ever. 

What in foe performance 
and personal makeup of this 
very talented person has made 
the wheel turn? Well, quite 
simply, too many mistakes too 
soon m too many areas. 

Arguably, the press has its 
cruel ways with leaders every- 
where. But it has not invented 
foe decline of most economic 
indicators. 

Nor, by any measure, is it 
an impish journalistic concoc- 
tion mat foe Netanyahu gov- 
ernment has conducted ten- 
aciously erroneous processes 
of decision malting — wheth- 
er in nominating for 24 hours 
an unqualified attorney gen- 
eral, or in dealing with the 
Palestinians. And profusely 
critical media are tne result, 
not the perpetrators, of a new 
malaise among Israelis. 

Much of it resulted from 
what Mr. Rosenthal calls Mr. 
Netanyahu's “problem” — 
the personality traits that stand 
between him and an acceptable 


set of political rules of beha- 
vior. It is a problem, according 
to that simplistic assessment, 
easily rectifiable if Mr. Net- 
anyahu would just 1 ‘ teach him- 
self about himself.” 

But the problem goes be- 
yond a psychological tutorial. 
The press and other political 
observers have so for railed to 
see the prime minister's di- 
rection. Is be really aiming at a 
final settlement with the Pal- 
estinians? Does he, like his 
recent predecessors, have a 
reasonably clear concept of 
how to go about peace? 

What mystifies, and often 
worries, many Israelis is that 
Mr. Netanyahu has been a de- 
vout keeper of this and other 
crucial secrets. Eighteen 
months into hie administra- 
tion. lacking a defined nation- 
al agenda, he still likes to (fan 
foe aura of a riddle. 

It is a totally unentertaining 
duty of the. press to keep shed- 
ding stark, sometimes annoy- 
ing, tight on this blurred im- 
age.. It foe media should be 
blamed for anything concern- 
ing Mr. Netanyahu, it is failure 
to render the picture clearer. 

The writer, a columnist arid 
a member of the editorial 
board of the Israeli daily 
Ha'aretz , contributed this 
comment to the International 
Herald Tribune. 


wary of throwing good money 
after bad to regimes unwilling to 
pat nation before family. 

So what can be done not only 
to address foe short-term prob- 
lems but to ensure that funda- 
mentals are also tackled? 

• U.S. commitment to keep- 
ing America’s markets open 
wheatever happens to its trade 
deficit over the next two years. 
That implies greater willing- 
ness to take risks with inflation, 
by not pushing up interest rates 
and relying on cheap imports to 
keep inflation at bay. This 
policy will be negative for U.S. 
corporate profits but not for the 
U.S. economy as a whole. 

■ Postponement of attempts 
to reduce Japan’s fiscal deficit 
Instead, concentrate on encour- 
aging mergers, closures, for- 
eign takeovers and anything 
that will raise returns on capital 
in domestic businesses. 

;• U-S.-Japanese agreement 
to set an exchange rate target for 
the next two years — say, a 
band between 115 and 130 yen. 
Instability has been a secondary 
cause of banking problems 
around foe region. Successful 
.convergence in Europe is in- 
creasing foe urgency of redu- 
cing dollar-yen volatility. 

• Huge (upward of $70 bil- 
lion) long-term funding for 
banking sector restructuring in 
Southeast Asia and South 
Korea. Everywhere, as in Japan, 
bank systems have been abased. 
In South Korea’s case, excel- 
lence in manufacturing has 
been overshadowed by lack of 


confidence in foe financial sec- 
. tor. This has been exacerbated 
by losses for Korean and Jap- 
anese banks in Southeast Asia. 

• The main, condition for fi- 
nancial sector help must be 
commitment of governments to 
force liquidation of loss-mak- 
ing businesses, including per- 
manent closure of many fac- 
tories. Tariff reductions need to 
be speeded up. 

• Commi tment by China to 
stop loss-making state enter- 
prises from dumping in world 
markets and undermining its 
neighbors. WTO membership 
and multilateral and bilateral 
loans need to be contingent on 
abiding by market disciplines in 
foreign trade. Agreement to 
keep the yuan stable and not set 
off another round of devalu- 
ations is also needed. 

This is a big and difficult 
agenda. But so are the prob- 
lems. If those assembling in 
Vancouver think that financial 
market instability is a passing 
problem that has tittle to do with 
economic fundamentals, they 
are footing themsleves. The 
problems of excess rapacity, 
bust banks, overwhelming debt 
and supply/demand imbalances 
must be tackled at their roots. 

A PEC ran do nothing to ease 
the pain of asset price bubbles 
(Hong Kong) ana property ex- 
cesses (Bangkok). But it can help 
fi ght internati onal contagion of 
self-fulfilling concerns about 
firms, currencies and banks by 
facing up to fundamentals. 

International Herald Tribune. 



The result of these trends, in 
market terms, is a good balance 
of supply and demand at prices 
that the importing countries can 

well afford to pay. Supply can 
slump or demand increase, as it 
did last year in a period of 
worldwide expansion, but equi- 
librium returns fairly quickly. 

After a period of inventory 
building, oil stocks held by in- 
dustrialized countries are back 
to foe felly adequate level of 
two years ago. If El Nino pro- 
duces a milder than usual 
winter, world -petroleum pro- 
duction could not merely cover 
demand but produce surpluses. 

So the world may be in for a 
political showdown, even mil- 
itary conflict, but foe prospect 
that Iraqi exports might disap- 
pear from foe market for a while 
is hardly cause for concern 

. The writer is executive di- 
rector of the International En- 
ergy Agency. He contributed 
this comment to the Interna- 
tional Herald Tribune. 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO 

1897s German Force Darwinism contradicts fos 


SHANGHAI — In official 
Chinese circles it is considered 
that Germany by landing an 
armed force at Kiao-Chau has 
committed an act of war. It is 
improbable that China,. on ac- 
count of her weakness, will look 
upon it as such and take action 
thereon. British and American 
warships have been ordered to 
Kiao-Oxan to watch develop- 
ments there. The greatest in- 
terest is felt as to foe result of 
this energetic move on the part 
of Germany, as the region is 
immensely rich in minerals, and 
foe Kiao-Chau harbor is the best 
along foe whole coast 

1922: Defying Darwin 

MIDDLEBORO, Ky., — Del- 
egates to the Baptist Conven- 
tion in session here opened the 
meeting by declaring war on (he 
theory of evolution, and adopt- 
ed a resolution declaring that 


Darwinism contradicts foe 
Bible, degrades man, exalts the 
brute and dishonors God. The 
resolution marks the beginning 
of a bitter fight which will have Jk 

a big influence on the political » 
campaign next year, when can- 
didates will be asked to take a 
definite stand on foe teaching of 
evolution in the public schools. 

1947:MarsbaU Replies 

CHICAGO — Secretary of 
State George -C. Marshall de- 
nounced Russia's “brazen and 
contemptuous” propaganda as 
a threat to world stability and 
said it was time to call a halt 
Sharply denying that the United 
States has imperialistic aim? ‘ m 
extending aid to Europe, Mr. 
Marshall said Comm unis ti c 
misrepresentation “goaded foe 
American people” into a state 
of active resentment. Mr. Mar- 
shall asserted that Russia an- i | 
pears determined to prolong 
Europe’s plight indefinitely. 








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INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, NOVEMBER 19, 1997 

OPINION/LETTERS 


RAGE 9 


Get America on ‘Fair-Track 5 
Before the Bubble Bursts 


By Kevin Phillips 


— Thai screeching 
'* , . u ?d Washington of “fast- 
track breaking up involves more than 
the apparent demise of an unpopular 
mechanism for making tricky trade law. 

The fast-track proposal withdrawn 
,a « Nov. 9 by President Bill Clinton 
m« 3 the House speaker Newt Gingrich. 
Republican of Georgia, would have 
required Congress to accept or reject 
trade legislation without any amend' 
merits or modifications. But their reason 
for withdrawing it — near certain 
defeat in a House of Representatives 
that has become aroused over U.S. 
trade policy ■ — is what is signifi cant 
It could signal larger change: voter 
opinion starting to matter again, fab- 
ulous globalization profits for the few 
becoming a snarl to the many, corporate 
jets starting to hit bumps on Washington 
runways, and perhaps even the shrink, 
mg or popping of Wall Street’s 15-year 
stock market bubble. 

It could even signal a new politics. 


T rha! screeching shrunk. Fast-track has helped to manage 

sound in *•*-- the globalization process so that many 

of America's biggest employers now 
have more workers in Sonora, Mexico, 
or Sichuan, China, than in Saginaw, 
Michigan, or Sioux City, Iowa. 

In the days leading up io fast-track’s 
collapse, the big jokes in Washington 
were about union members camping 
outside congressional offices — goons 
in bowling jackets with cheap cigars 
and lS-inch necks. 

But back to the point about a broader 
Washington fast track of political ar- 
rogance and undemocratic procedures 
skewing policy far beyond trade. 

This also has been vivid in post- 1 980 
tax changes, with Social Security taxes 
on average families ballooning while 
income tax rates (hopped most steeply 
in top brackets. Medicare cuts in the 
1 997 federal budget deal, in turn, helped 
make possible capital-gains tax cots for 
investors. Free market crises that migh t 

r sting Wall Street — bank insolvencies. 

Instead of fast-track, maybe we’ll see peso swan dives or Third World 
“fair-track.” Fast-track itself — what fmancir 



inadvertent name has ever been more 
apt? — - is not just an unpopular trade 
procedure, condemned in national polls 
by majorities of Democrats, Republi- 
cans and independents alik e. It is ?lsn a 
metaphor for what the Washington of 
both major parties has become in the last 


financial distempers — have been 
resolved speedily with doses of social- 
ism unavailable to textile workers 
or mom-and-pop grocery stores. 

Priorities like these aren’t coinciden- 
tal. They have been part of the ladder the 


15 years: a greedy metropolis of fast- The trade procedure is a 

metaphor for u,hat 


Washington, 
ample, has seven of the nation's top 20 
per-capita-income counties, fueled by 
the earnings of 60,000 lawyers and about 
90.000 people who lobby or support 
lobbying activities. Ninety percent of 
these people represent the corporate and 
financial top 1 percent of the country — 
the honchos of fast-track America. 

What is at stake here is as clear as 
a champagne bubble. Twenty years 
of fast-track trade negotiations and 
procedures have helped to make 
economic globalization a gold mine 
for upper America. 

For lower America, by contrast, glob- 
alization has been a comparative salt 
mine. The U.S. work forces of many of 
these same companies have declined by 
40 to 60 percent Inflation-adjusted non- 
supervisory wages actually have 


Washington has become: 
a greedy metropolis of 
fast-tracking , influence- 
peddling elites . 


Dow Jones industrial average has 
climbed up, from 776 in 1982 to 8.250 at 
the recent August peak. There is a strik- 
ing overlap, moreover, between the most 
important company owners of America 
and the big contributors and soft-doll ar 
donors to national politics cited in the 
reports of the Federal Election Com- 
mission and the Center for Public In- 
tegrity. Certainly, the last two decades 
have been years in 'which federal policy 
has sprinted in their direction. ’ 


Putting statistics around this inter- 
action has to be subjective. 

Serious Wall Street analysts have 
pointed out how the Dow Jones has 
roughly doubled since the Republican 
Party took over Congress in the 1994 
elections. Supporters of Mr. Clinton 
boast that the Dow has gone from roughly 
3 ,500 to 8.000 under his policy aegis. 

Both groups are right. There has 
been a bipartisan collusion of the 
big-contributor Democrats in the 
White House and the big-contributor 
Republicans on Capitol Hill, along 
with some help from the former Wall 
Street consultant and money manager 
who runs the U.S. Federal Reserve. 

Which brings us to die following 
questions: Is the current stock market 
a global politico-financial bubble? Do 
the events of Oct. 27 (the 554-point 
Dow tumble) and Nov. 9 (the collapse 
of fast-track) suggest, as they say in 
the great opera of politics, that the 
fat lady is about to sing? 

Probably, but time will tell. What is 
undebatable is that if the financial eco- 
nomy is indeed beaded into some ce- 
lestial meat grinder, there will be lots of 
political impact. 

Among the juiciest data compiled by 
market mavens are those retailing how 
the big stock market tumbles of the 20th 
century were followed by long periods 
during which the Dow remained below 
die previous high. These big market 
slides, in turn, tend to correlate not just 
with party turnover in the White House 
but also' with the last three major wa- 
tersheds of American politics: die 1 890s, 
early 1930s and late 1960s to 70s. 

Today's politics, of course, do not 
yet confirm a national watershed, save 


LETTERS TO THE EDITOR 


A Danish Star? 

Regarding "A Xenophobic 
Weed Is Growing in 
Denmark's Tidy Little 
Garden " (Nov. 17): 

There are legends that re- 
flect important truths but are 
legends nonetheless. Beyond 
a doubt. King Christian X of 
Denmark was a monarch of 
moral courage and a friend of 
Denmark's Jews. But he nev- 
er “chose to wear a yellow 
star during the Nazi occupa- 
tion in World War II.” 

The heroic act was not nec- 
essary. Denmark, unlike Nor- 
way. capitulated when Ger- 
many invaded in 1940. It was 
rewarded, if that be the word, 
with an unusually large mea- 


sure of internal autonomy for 
a German -occupied country. 

When the Ger man attitude 
hardened in 1943, die Danes 
arranged the exodus of their 
Jews to neutral Sweden. Then 
there was no one left who 
might have worn a yellow 
star, and so no order for any- 
one, commoner or king, to put 
one on was ever issued. 

HENRY KAMM. 

Lagnes. France. 

Good Government 

Regarding "Crisis Tests 
‘Asian Values ’ ” (Now 15): 

The article quotes Jusuf 
Wanandi of the Center for 
Strategic and International 
Studies as saying in reference 


to Southeast Asia that “the 
key to recovery was not 
whether a country bad a liberal 
or authoritarian political sys- 
tem.” He suggested that what 
was important was “whether 
the government is good.” 

While everyone would 
agree that good government is 
desirable, differences arise on 
how to achieve that goal. 
Experience shows that in 
order to be good, governments 
(including those of Southeast 
Asia) must be subject to strict 
laws, accountability and 
public scrutiny. 

Liberal democracy, which 
presupposes at least an 
independent Congress, a 
free press, fair laws and a 
strong judiciary, can best 


provide such safeguards. 

PEDRO C. MORENO. 

Charlottesville, Virginia. 

The writer is international 
coordinator for The Ruther- 
ford Institute. a civil liberties 
organization. 


Clarification 

The statement by 
Aivars Slucis that ap- 
peared on Nov. 13 on 
this page war a paid 
advertisement, not an 
opinion column, and 
should have been labeled 
"advertisement . ” We 
regret the omission. 



THE PENINSULA 

PEVLRH HILLS 

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Inf .ittrniliHiil* r ‘ m TfBibin i i » CONTACT VOL'R TRAVEL rR'-VExMLWAL 


perhaps one of apathy and disillusion- 
ment. But there are a few si gnals that 
may be worth watchlog. 

On the Democratic side, we have the 
almost unprecedented rivalry between 
the Democratic president and the Demo- 
cratic leader of tile House, Represen- 
tative Richard Gephardt of Missouri. 
Mr. Gephardt represents Old Democrat- 
ic, or little-guy, economic policy and Mr. 
Clinton represents New Democratic, or 
big-contributor, high-roller interests. 

Should Mr. Gephardt, rather than 
Mr. Clinton, represent the coming 
wave, which is possible if the great 
15-year Dow Jones bubble is close 
to popping, then it could be something 
to take seriously. 

The fast-track combat symbolizes the 
Gephardt game. In polls, half of self- 
identified Republicans admit their party’s 
penchant to favor the rich over the middle 
class. Mr. Clintoa’s 1997 compromises 
have left the Republicans on Capitol Hill 
little challenged philosophically, and 
thus well positioned. Mr. Gephardt, by 
contrast, wants to take off the gloves. 

Mr. Gingrich, for example, is lucky 
that Republican House members never 
had to vote on fast-track. One mid- 
summer poll showed a stunning 73 per- 
cent of grassroots Republicans opposed. 
Worse still, Mr. Gingrich has a long 
record of overriding rank-and-file Re- 
publican voter opinion on trade issues: 
the North American Free Trade Agree- 
ment in 1993. the General Agreement 
on Tariffs and Trade in 1994, the peso 
bailout in 1995 and now fast-track. If the 
economy starts to slide in 1998. and 
especially if the stock market bubble 
pops, the Republican Party’s rampant 
capitalism and corporate banner waving 
could become an albatross. 

It's too early to say this will 
happen. But it's not too early to watch. 
‘ ‘Fair-track, ’ ’ anyone? 


The writer, author of "Arrogant 
Capital: Washington, Wall Street 
and the Frustrations of American 
Politics," contributed this comment to 
the Los Angeles Times. 


Silence About HIV Puts 
Others at Lethal Risk 


By Alan J- Mayer 


B ROOKLINE, Massachusetts — 
Two and a half years ago I tested 
positive for HIV. the virus that causes 
AIDS. Since then I have discovered a 
support system that steadfastly refuses 
to encourage responsible behavior and 
a society whose silence ensures the 
continued spread of this disease. 

The recent case of Nnshawn 
.Williams, who is believed to have 
infected numerous people in New 
York State, could have been used 

MEANWHILE 

to clearly illustrate this point Instead, 
by focusing on Mr. Williams's crim- 
inal record and moral character, the 
news media strengthened the 
dangerous myth that most people 
are somehow safe from barm. 

We were allowed to view this honor 
from a distance, comforted in the be- 
lief that we would never meet a Nu- 
shawn Williams or that if we did, we 
would recognize him immediately. 

Most HIV-positive people I have 
encountered, regardless of their 
social standing, do not voluntarily 
disclose their status to potential part- 
ners. Indeed, even people in long- 
term, committed relationships lie 
about their status. These are the real- 
ities of HIV transmission today. 

The people I am talking about 
are nothing like Mr. Williams. 
They did not grow up in ghettos or 
belong to street gangs. They come 
from stable homes in safe neighbor- 
hoods. They went to your high school 
and college and graduate school. 

They remain silent not because 
they are evil, bat because it is difficult 
to tell the truth, and because their 
friends and community support 
them in their silence. Their doctors, 
their psychiatrists, even the AIDS 
organizations they call for help offer 
comfort and sympathy but don’t 
encourage them to tell the truth. ■ 
Certainly, it is difficult to disclose 
one’s status to a partner, but it is 
necessary, and it does get easier. It is a 
skill that can and must be learned. But - 
the HIV community has adopted its 
own “Don't ask. don't tell” policy. 

We are 15 years into the AIDS 
epidemic, and- I have been asked 
my status by prospective partners 
only twice. Since testing positive. I 
have made a point of disclosing my 
status to any potential partner, each 
one told me that I was the first person 
to do so. Each believed that if he 
practiced safe sex, there would be no 


need to know. 1 practiced safe sex. 
There is no such thing as safe sex. 

Leading advocacy groups perpetu- 
ate the culture of irresponsibility. 

The Gay Men’s Health Crisis will 
not recommend or encourage full 
disclosure- When I called the group’s 
hot line earlier this year. 1 was 
advised to “experiment” — inform- 
ing some partners of my HIV status 
while remaining silent with others. 
In this way 1 could decide which 
was more comfortable for me. 

The Centers for Disease Conrrol 
and Prevention will only “suggest 
that you might want to consider in- 
forming your partner.” a hot-line 
counselor told me. Counselors at the 
San Francisco AIDS Foundation said 
it was their job to dispense infor- 
mation. not moral or ethical recom- 
mendations, and. again, that I must do 
what makes me feel comfortable. 

We are not talking about com- 
fortable here. We ” are talking 
about life and death. 

The emphasis on the individual's 
rights without an equally strong 

Lack of emphasis on 
responsibility is n 
direct cause of the 
spread of this disease. 

emphasis on the individual's respon- 
sibility is wrong and is a direct cause 
of the spread of this disease. 

By hiding behind the cover of “safe 
sex,” AIDS groups have shifted re- 
sponsibility off the shoulders of those 
infected with the virus — this despite 
the fact that, in their own words, there 
is no such thing os safe sex. only levels 
of risk that one must choose, in mak- 
ing that choice, a partner’s HIV status 
is the critical piece of information. 

Groups like the Gay Men s Health 
Crisis claim they cannot dictate be- 
havior. Granted. But that is all the 
more reason that AIDS organizations 
have a responsibility to encourage, 
to teach and to train" people who are 
HTV positive to do what is right. 

For years the AIDS community 
has rallied around the battle cry' 
* ‘Silence = Death. ’ * What it has failed 
to realize is that silence comes in 
many forms and that all are lethal. 

The writer, an architect, con- 
tributed this comment to The 
New York Times. 


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INTERNATIONAL HERALD TRIBUNE, WEDNESDAY NOVEMBER 19, 1997 



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AUCTION SALE 

Racecourse and property 
development projects in Mauritius 

Mr Jean-Claude Ledezio, sworn broker will sell by public 
auction in accordance with article 2088 and following of the 
Civil of Mauritius all the shares held by Sando E- Cie in 
Guibies Holdings Limited (“GHL"!. namely i2.5qo.QOQ shares 
of RslOO each representing die entfre issued share capital of 
GHL GHL controls two wholly owned subsidiaries. Garbles 
Properties Ltd |"GPL - I and Compagnie Mauricienne 
d'Hippodrome Ltee rcML”). 

GPL owns two plots of land at Les Guibies 1 1 30 hectares) and 
Les Pallles (50 hectaresl within the district of Moka. Mauritius 
The latter plot is earmarked lor a residential property 
development to be completed in three phases. Minimal 
infrastructure work has commenced on the first phase 

CMH owns 56 hectares of land situated at Les Guibies in the 
district of Moka. The land is presently under development as 
a racecourse. Construction commenced in June 199c? and is 
estimated to be approximately one third complete. 

Both pieces of property are located approximately 3 
kilometres boon Port Louis, the capital city of Mauritius 
The auction sale will be held on Thursday, 27 November 1997 
at 1 0.30am at the First floor. Labourdonnais Waterfront HoteL 
Port Louis. The shares shall be sold in one single lot and shall 
be subject to the terms and conditions (including conditions 
precedent) laid down in a Memorandum erf Charges icahier 
des charges) dated 29 October 1997 The Memorandum erf 
Charges aforesaid and further details regarding the sale 
Interest are available at the office of Mr JC Ledezio at 9 Floor, 
Stratton Court, Poudriere Street. Port Louis [Telephone 212 
0454-212 25781. 

Interested parties who intend to bid through agents should 
cause duly legalised powers of attorney to be deposited with 
Mr Jean Claude Ledezio at least 48 hours before 27 November 
1997. 



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Internet vwre njs-iaemaianaf.cOQ 
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PROJECT FINANCE CONSULTANTS - 
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pfease fax OF Project Ftaancn Consul- 
tads on 61-745-711650 


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projects tor Inning or Hiring far 
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2nd PASSPORTS I Driving Licences I 
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M PASSPORTS mi VISAS 

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non and entry wm Free consutatan. 
Agents saugtt in Acte. NORDiCCON- 
SOLT - Gammy - Tel (+*9) 431- 
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HARJHG LISTS by BHger A ConsBDy 
European business and nosamer daa 
Tel 44 1312262998 Fex 44 1312357901 


TOUR OFFICE H LONDON 
Sand Stre« • Mad. Phone. Far, Teton 
Tet 44 171 290 9000 Fee 171 499 7517 


Business Travel 


IrtBuriMU Ctow Reran Imrefco 
Wn dtaide. Up to 50% oj r No cou pons, 
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Capital Available 


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— — PLC ' 


PROJECT FINANCE 
VENTURE CAPITAL 
GLOBAL COVERAGE 
NOMAXBUf 
BROKERS WELCOME 
For CnporaM Brochure and 
iramiaapack 

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CAPITAL C0RP. 

H & A 

Corporate Finandng 
VertoreCapdal 
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Fax: 001-407-248-0037 USA 


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Fax: 001-71 6-779-8200 


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“■MEDIATE t UMJMnED M 

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ENTERTAINMENT 


B93 4329 30.8 
PLAYHOUSE 
PLAYHOUSE 


Real Estate 
for Sale 


Flench Provinces 


gOM-AUM-UBEROH- 
^boctua- LE TUC IMM0 
36-18 LE TUC. hBpJrwwwH 
. 'e 1 - *33 (0)4 90 11 84 04.' 


Paris and Suburbs 


7th. FACING HV ALICES, 5Bl Door, 
spferrid mew. recarte 4&roam mrtnert 
to rerorae. FF3500.000. THj +33 
W1 45 71 OHO 


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for Rent 


London 


CHELSEA NEAR HARR0DS, 
famisted. 2 -double bedroom 
£400 per week fang term. 
TGt +44 [0)171 589 


Paris Area Furnished 


CAPITALE " PARTNERS 

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nMpiiHa quaatjp apanmens, 

sfl sees tas and siiiutt. 

Tet +33(0)1 42 68 35 ® 
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at urtunsfsd, resdetel areas 


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™ paintings, etc. Parts 6Bif«e Sr 
taig (6 ntmjhs mti ■ FFi2jOoormnreh 
pu charges) or short lease (l¥l3J0(k 
mte. rtaraes kefaded). Tel +33 (0)1 
47 05 00 2? Fax. (0)1 45 56 19 50. 


CHAMPS ELYSEES • HIGH CLASS - 
Eraptaa apstrnm an tumres use 
SOrnm «A balcony on Champs Etaies 
Cal tar. +33 (0)1 4432 03U Fax 0310 


cowracw. WR9H0 AWMBU 
States ftwct'tatawCipta 

«nUn»'BMtare«ta»» 


m 


ETWC INVESTMENTS UTl 
FAX +44 &K I3P 


COIWOKIAUVENTURE FUNDS 
nutehto. MA VMto.NM 
tawde re rt Ptm *44 1 m ». r*i 
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USS-ONE MUON LOAN ROMO 
mSamred(CmM + 2S\) 
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of Hrangi Wtetaed infar to rttowi 


cl Bar* 

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OL COMPANY mta any concrete rffer 

tor inmedfeli bods, very nah rekn an 

neuwt F«r L33(C*J 44 4040 3* 


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ROUGH DIAMONDS W» MR PIV tatal 
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Expo 


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WVESTORS, FMAHC1AL PARTNERS. 
«nd tot corapBites « Gemte Con- 
hdanturi a n toct under fax. on 49 95* 
500 208 


Financial Sendees 


FUNDING PROBLEMS? 

far 

SOLUTIONS 

Carnet 

BANCOR 

OF ASA 

BtetaNe guanrtMS to reeve taring 
nr waHe projects 

VStTURE CAPITAL 

EQUITY LOANS 

REAL ESTATE 

tang tare cotottrel 
Supported Guarantees 

fee (532) B1M2M 
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insurance i Reuisuance hacked 
guar antees tor cssaad 
business projects. 

TeL 561-998-3222 
Fax: 561-898-3220 USA 
nonheope woldnBtafl.neJ 


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Rentals 


PARS 8th • NEAR ELYSEES PALACE 

Ground floor, 6ri <k a> rvi-Vj v* 
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charges Fax HrtHh *S* f.w fc* j 


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GENEVA, LUXURY FURNISHED atari- 
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Next Special Heading 


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For mvr details 
please contact: 

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HERALD TRIBUNE 
in Pjru 

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■ 

t.S 

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4 



INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, NOVEMBER 19, 1997 


PAGE 11 


INTERNATIONAL 


^Albright and U.S. Walk 
A Delicate Line on Iraq 


By Steven Erlanger 

Nay York Times Servicf 

ISLAMABAD, Pakistan — The Clin- 
toa administration is finding itself forced 
to retreat from its unswerving position of 
no negotiations on the topic of Saddam 
Hussein, propelled by the pressure of the 
new crisis with Iraq and the deteriorating 
Middle East peace effort. 

The United Stales re mains unwilling 
to bargain away the right of the United 
Nations to choose its own weapons in- 
spectors and keep them in Iraq. But it 

NEWS ANALYSIS 

displayed flexibility Monday by provid- 
ing new incentives to hold together its 
.shaky coalition and to entice Mr. Saddam 
1 a retreat without warfare. While the co- 
ndition seemed pleased with the effort, the 
first response from. Iraq was negative. 

Secretary of State Madeleine AJ- 
bright’s frenetic tour through the 
nervous nations of the Gulf in die last 
few days revealed both the outlines of a 
new diplomatic strategy for dealing with 
the Iraqi crisis and the fine line sbe must 
walk to make that strategy credible. 

Mr. Saddam’s latest challenge to UN 
unity is well-timed — aided by Euro- 
pean fatigue with the sanctions, the un- 
deniable pain the sanctions have caused 
ordinary Iraqis and the deterioration in 
the Middle East peace effort since the 
election last year of Benjamin Netan- 
. jrahu as prime minister of Israel. 

' The U.S. goal is to get UN weapons 
' inspectors back to work in Iraq as soon 
as possible, while refusing to let Mr. 
Saddam dictate who the inspectors will 
be, how many will be on a team or what 
their work rules will be. But Mrs. Al- 
bright is also trying to hold together the 
widest possible international coalition, 
to prevent this conflict from appearing to 
be solely between the United States and 
Iraq. 

“We recognize sanctions have gone 
on nearly seven years and represent the 
longest and most comprehensive sanc- 
tions in history,” said a senior official 
traveling with Mrs. Albright, adding. 
“We’re prepared to look at it.” 

While denying that the United States 
was “negotiating” with Mr. Saddam, 
i the official said: * ‘If our concern for the 
^ Vaqi people is how Saddam Hussein 


reverses course and lets inspectors in, 
we'd be doubly happy. The French and 
Russians have said sanctions have gone 
on too long, and we hope that they will 
look at this as a step forward.' ' 

To achieve her goals, Mrs. Albright is 
working to accomplish four things: 

• Rattle sabers loudly enough to get 
Mr. Saddam to take the threat of military 
action seriously, but not so loudly as to 
frighten moderate Arab leaders. 

• Provide enough increased relief, in 
the event Iraq backs down, to satisfy the 
Arabs, the Russians and the French, but 
not so much as to appear to be bargaining 
with Mr. Saddam out of weakness. 

• Rely on diplomacy as long as pos- 
sible. to make military action, if it 
comes, seem reluctant and inevitable, 
but not so long that Iraq can reconstitute 
the weapons of mass destruction that 
inspectors were there to destroy. 

• Push Israel hand enough on making 
progress with the Palestinians to show a 
renewed American “evenhandedness” 
in the Middle East, but not so hard as to 

ifuriate too many lawmakers and 
American Jews. 

Bahrain and Saudi Arabia have no 
love for Mr. Saddam, but no interest in 
associating themselves with the use of 
force against him. U.S. officials said. 
Mrs. Albright's main task was to re- 
assure them that the United States was 
not looking for a military solution, but to 
remind them of the danger Mr. Saddam 
poses to the region. 

“If they could press a button and get 
rid of Saddam, they would,” said a se- 
nior American official based in the Gulf. 
‘ ‘But there is a lot of talk about American 
‘double standards' on the Arab street — 
.that the Americans arc happy to starve 
V iqis and punish Saddam Hussein, but 
do nothing to make Israel live up to its 
commitments to the Palestinians.” 


So Mrs. Albright preached peace and 
patience but warned, quietly, that force 
could not be ruled out, trying to reassure 
the Gulf states that the United States 
cares about their interests and has no 
vendetta against Iraq. And she secured 
their backing, U.$. officials said, for the 
strategy of “intensive diplomacy back- 
ed by a robust military presence.” 

They urged her to stress the diplo- 
matic side, with an emphasis on limited 
American goals, international unity and 
mote visible sympathy for the Iraqi 
people. 

So the Americans have pushed the 
Russians and the French to step forward, 
as agents with more credibility in Bagh- 
dad. And British and American officials 
say they are offering a speedier and more 
efficient method of delivering the $4 
billion a year in food and medicine that 
Iraq is allowed to buy under the Security 
Council’s ”011 for food” resolution. No. 
986. which is meant to deliver relief. 

To give Russia and France more to 
work with — and Mr. Saddam incentive 
to settle — American officials are calk- 
ing of expanding that program, should 
Mr. Saddam come back into compliance 
and allow die weapons monitors to re- 
turn. 

The Americans said they would con- 
sider increasing the amount of money 
that Iraq could raise through oil sales; 
extending the agreement so it would not 
be subject to review every six months, 
and, most important, expanding the 
kinds of goods that Iraq could apply to 
purchase, to include “civil needs,” one 
official said. These might include spare 
parts and vehicles, such as ambulances, 
not easily used for military purposes. 

In Qatar and elsewhere on her trip, 
Mrs. Albright kept pressure on the Is- 
raelis to move urgently “to take the 
actions required” for peace and to 
“keep their commitments.” 

“Time is not on our side.” sbe re- 
peated. While urging courage on both 
sides and not mentioning Mr. Netanyahu 
by name, her message was meant to 
acknowledge Arab despair over Israeli 
negotiating tactics. Her pressure on Mr. 
Netanyahu to act during the Iraqi crisis 
seems to explain his efforts to meet 
Yasser Arafat, the Palestinian leader, 
quickly in London, and if not Mr. Arafat 
then King Hussein of Jordan. 

An indication of the delicacy of her 
task was given on Monday in Saudi 
Arabia, which is already a base for 
American, French and British pilots en- 
forcing the “no flight” zone in Iraq. 
After her long talks with Saudi leaders, 
the Saudi government issued an unusual 
statement that stressed the Middle East 
peace first and the Iraqi crisis second. 




BRIEFLY 


Algeria Death Toll 
Is Raised to 80,000 







ipr z ^£<3* •'i J 


i|imnaliVWBnD>n 


Mrs. Albright greeting a group of children Tuesday at a school in Peshawar for refugees of the Afghan war. 

ALBRIGHT: Harsh Criticism ofTaleban 


Continued from Page 1 

for human dignity, in a way more re- 
miniscent of the past than the future.’ ’ 

Asked if Mrs. Albright’s comments 
embarrassed Pakistan, a seniorminister. 
stressing that he was speaking unof- 
ficially, said, “It is no great problem in 
Pakistan, but what we don’t know is 
what die reaction will be over there,” 
pointing to the mountains beyond which 
Af ghanistan lies. 

Both P akistan and the United States 
support a United Nations mediation ef- 
fort to try to form a coalition govern- 
ment that might last and end the Afghan 
civil war. 

Ofthe 3 million Afghan refugees who 
entered Pakistan from 1979 onward, 
about half have returned since the fall of 
the Communist government in 199 2, 
American officials said. 

But 100,000 refugees have come 
since the fall of Kabul to the Taleban, 
and Kabul residents made up the bulk of 
the women Mrs. Albright spoke to Tues- 
day. 

Some expressed resentment that the 
United States did not back opponents of 
the Taleban before its victory. 

At the camp, Mrs. Albright and two 
of her top aides, both female, met 
privately with a group of women to ask 
about their lives. 

Given cultural and religious restric- 
tions, only female reporters were al- 


IRAQ : Russia Mediates as U.S. Adds Forces 


Continued from Page I 

Nations team. The team was looking for 
evidence of chemical and biological 
weapons production. 

Both the United States and Iraq have 
signaled a desire to end the confrontation 
peacefully. Over the weekend, Wash- 
ington turned to Russia and France to 
negotiate with Iraq. At home. President 
Bill Clinton and other American offi- 
cials have taken pains to publicly keep 
alive the threat of air strikes on Iraq. 

In recent days, both President Boris 
Yeltsin and Foreign Minister Yevgeni 
Primakov have expressed opposition to 
the use of force to get Baghdad to let U.S. 
inspectors rejoin the UN team. 

Mr. Aziz met with Mr. Primakov in 
Moscow and then with Mr. Yeltsin, who 
was spending the day at his country home 
near ihe capital. Mr. Primakov, in broad- 
cast remarks after the meeting, said that 
Russia would try to * ‘enhance the work” 
of ihe inspectors to Iraq's satisfaction. 

He said that Russia nad developed a 
“program” that would both eliminate 
the chances of an armed conflict and 
permit Iraq to carry out UN resolutions. 
He declined to elaborate, other than to 
say that Iraq must fulfill the demands of 
the UN resolutions. 

Mr. Primakov's spokesman. Gennadi 
Tarasov, said Russia's goal would be to 


Saddam’s Gulf War Intelligence Coup 

Bonn Foreign Ministry Official Passed Allied Military Secrets to Iraq 


By Alan Cowell 

New York Jun es Service 

BONN — Shortly after Saddam Hus- 
sein’s army marched into Kuwait in Au- 
gust 1990, a German Foreign Ministry' 
official provided Baghdad with piles of 
secrets, including Western assessments 
of Iraq's missile strength. 

The German official, who also gave 
Iraq critical insights into the increasing 
deployment of U.S. forces, was even- 
I 'tally unvoted and convicted of espi- 
onage, according to confidential doc- 
uments from his trial. 

The documents suggest that Mr. Sad- 
dam had far greater knowledge in 1990 
of American and allied thinking than 
was publicly assumed at the time. 

And the information provided by the 
German spy may have helped Iraq pro- 
tect from allied attack some of rhe mis- 
siles it used to attack Israel in 1991, the 
court documents say. 

The spy, Juergen Mohamed Gictler, 
42, is said to have given an Iraqi in- 
telligence officer in Bonn details of a 
confidential message from President 
George Bush to Chancellor Helmut 
Kohl that set out U.S. military deploy- 
ments in the Guff region. 

He also handed over a German in- 
telligence report setting out what the 
.West knew about the location of Iraqi 
' 'jcud-B missile sites, according to the 
'court documents. In other words, the 
Iraqi military Had time to relocate mis- 
sile launchers — or replace them with 


decoys — long before the beginning of 
allied air raids in January 1991. 

“The subsequent course of the war — 
the targeting of heavily populated res- 
idential areas of Israel by Iraqi rockets 
— shows the great significance of this 
report for Iraq and for the coalition 
against it,” die documents say. 

The court documents, still classified 
in Germany, set oat the formal judgment 
and sentencing of Mr. Gietkrr by a court 
in Dusscldorf. which imposed a five- 
year jail lerm in May 1991 after a brief 
trial that was largely held in secret. 

Mr. Gietler has been free since 1994, 
working as a businessman in Africa, the 
news magazine Der Spiegel reported in 
this week’s issue. 

Mr. Gietler’s dealings with an Iraqi 
military intelligence officer seem to 
have been made easy by extraordinary 
lax security arrangements at the Foreign 
Ministry, where he worked in the re- 
gistry where documents are stored. 

When he was arrested on Aug. 28, 
1990. almost four weeks after the in- 
vasion of Kuwait, he was walking out of 
the Foreign Ministry carrying a plastic 
bag containing 51 documents, 46 of 
them dealing with the Gulf crisis, the 
court documents said. 

Der Spiegel said he had first gained 
access to the ministry's Middle East 
registry, where classified documents 
were stored, while on temporary duty. 
He had a copy of the key to the registry 
made during his lunch break at a kiosk in 
the Bonn railroad station. 


He was not challenged when he re- 
moved many documents in a briefcase, 
including secret French satellite pho- 
tographs showing Israeli missile deploy- 
ments. 

It is not clear when the German au- 
thorities informed American officials that 
crucial parts of the military planning for 
the Guff War had been compromised. 

But in the judgment of the court, Mr. 
Gietler’s activities enabled the Iraqi 
Army to disguise some missile batteries 
so that it was able to fire missiles at Israel 
from sites that the United States and its 
allies believed they had destroyed. 

One document handed over by Mr. 
Gietler was a message on Aug- 7, 1990, 
from Mr. Bush detailing which navy, air 
force and army units were being sent to 
the region. Mr. Bush requested that his 
message be kept secret, ”to protect the 
security of American soldiers,” accord- 
ing to the court judgment. 

Der Spiegel said Mr. Gietler had been 
arrested as a result of routine German 
intelligence tapping of telephones al the 
Iraqi Embassy in Bonn in June 1990. 
German agents then tailed an Iraqi of- 
ficer — identified as Brigadier General 
Osmat Judi Mohammed, Iraq’s military 
attache in Germany — to a clandestine 
meeting with Mr. Gietler in June 1990. 

The German agents held off arresting 
Mr. Gietler because they suspected that a 
third figure might be involved in the 
espionage operation. That enabled him 
to provide Iraq with classified material 
for weeks after the invasion of Kuwait , 


lowed into the room to listen, bat they 
provided a description and tape of the 
meeting to their male colleagues. 

“We’ve had a hard time getting our 
jobs, ’ ’ Mrs. Albright said to die 25 or so 
women and girls in a small classroom of 
mud brick, “but not as hard a time as 
you.” 

One older student named Rahanna, 
described the night her family boose 
was invaded by thieves who held a gun 
to her brother's head and rousted her 
and her older sister from bed. 

“When they wanted to touch my sis- 
ter,” as the translator finally worded it, 
“she jumped from the window. It was 
six stories. The doctor told us later she 
died when she hit the ground. 

“I was so frightened; I was 
frightened to death.” 

At first, she said, her brother thought 
the thieves threw a bundle from the 
window. “But it was sister,” she said. 
“We buried her and then we had to 
come here.” 

Mrs. Albright said that “American 
women have been very concerned about 
Afghan women. We have read about 
you. And I especially wanted to come to 
meet with you and hear your stories.” 

“I find that women have the same 
stories, ’ ’ she continued. “It is very hard 
for me to sit here and compare myself to 
you, and I have been very lucky, as have 
my friends. 

“But I know we are all the same, and 


Station 12 la a member of B>m KPN Group 



PARIS — Amnesty Internation- 
al on Tuesday raised to 80.000 die 
estimate of the number of people 
who have died since an Islamic 
insurgency flared up in Algeria five 
years ago. 

In a report on human rights vi- 
olations in Algeria, the organiza- 
tion denounced the ongoing cycle 
of violence in Algeria, and called 
for an international inquiry into ci- 
vilian massacres. (AFP) 

Comoros Defector 
Returns to Capital 

MORONI, Comoros — - The 
former Comoran prime minister, 
Mohammed Abdou Madi, has 
fallen out with secessionists on the 
Indian Ocean island of Nzwani and 
returned to the capital, Moroni, of- 
ficials said Tuesday. 

Mr. Madi, who was named 
Nzwani' s “ambassador to Europe, 
die Americas and Oceania” last 
month, fled the island Friday for 
neighboring Mwali, but late on 
Monday arrived in Moroni by 
private plane. (Reuters) 

Guerrillas Attack 
Panamanian Post 


Ah— 

Tariq Aziz leaving talks Tuesday 
at the Russian Foreign Ministry. 

we have the same feelings — we all 
s offer when we hurt and we all suffer for 
each other. 

“I have found that when women are 
given a chance to work and raise chil- 
dren, they can be so brilliant Yet so 
many women are destined to suffer, and 
we should do all we can to help 
them.” 

She concluded: “I hope I can come 
visit you again — bat come to an Af- 
ghanistan where you can Live as full 
equals. We really are all sisters.” 


PANAMA CITY — A 
P anamanian police post was at- 
tacked by suspected Colombian 
guerrillas, who killed one officer 
and wounded three, the authorities 
said Monday. 

The attack occurred Saturday 
night in a village 20 miles (32 ki- 
lometers) from the Colombian bor- 
der, die police said. ( Reuters ) 

Probe in Argentina 

BUENOS AIRES — An Argen- 
tine congressional commission will 
summon a former police chief for 
questioning over a 1994 anti-Jew- 
ish bomb attack that killed 86 
people, die commission says. 

Pedro Klodczyk, die former 
chief of the Buenos Aires provin- 
cial police, will be called to testify 
Thursday. Mr. Klodczyk was dis- 
missed in 1996 after four of his men 
were charged with providing the 
vehicle used in the car-bomb attack 
on a community center. (Reuters) 


let “Iraq see the light at the end of the 
tunnel'’ of compliance. Mr. Tarasov 
suggested that sanctions could be eased 
in phases as Iraq complies. 

“There should be an adequate re- 
action recognizing progress achieved 
along this track,” he said. 

The Clinton administration has ar- 
gued that only the removal of Mr. Sad- 
dam can ensure full compliance with UN 
demands. In the meantime, sanctions 
have become a tool in American efforts 
to isolate Iraq. 

Russian officials said that Mr. Pri- 
makov might present his “program” to 
the other permanent members of the 
Security Council — the United Stales, 
France, China and Britain — on Wed- 
nesday in Geneva. 

James Rubin, the spokesman for Sec- 
retary of State Madeleine Albright, said 
no meeting had been scheduled. But he 
said that Mrs. Albright, who was on an 
official visit to India, was consulting 
with the foreign minister of France, 
Hubert Vedrine, and the British foreign 
secretary, Robin Cook, as well as with 
Mr. Primakov. She was discussing 
whether a meeting should be held, the 
subject matter, a site and just who would 
attend, Mr. Robin said. 

“There is no formal plan” regarding 
what should be presented to the Iraqis, 
Mr. Rubin added. 



It docsn t really matter whether you 
work in the remotest regions on earth, 
sail across oceans or just climb moun- 
tains for fun. There are going to be 
times when you need to get in touch. 
And in the middle of nowhere, that 
isn't easy. 

In an age of digital mopping, and 
positioning systems accurate to the 
nearest meter, it's easy to forget that 
almost 90 Q . . of the globe is completely 
inaccessible to ordinary telephones. 

With Station 1 2 there's no such 
place as nowhere. IV <? provide a com- 
plete range of satellite communications 
Services that work wherever you do. 


So if there's sky above, you can make 
that call. 

Our latest service uses the smallest 
lap-top terminals yet to access the 
world's telephone networks from prac- 
tically anywhere. Voice, data or fax, the 
choice is yours. 

l\lo fuss, no bother, no unnecessary 
complication, just global communica- 
tions that work - every hour of the day, 
every day of the year. 

For full details of Station 12 satellite 
communications, write to us of the 
address below. Or call us, if you can. 

Station 12, if you can get t here, you 
can call from there. 




Station 12* 
Tho uitimat 
connection 


e m obi l 


12 


For Information coll *31 70 34 3 B400 

or fax *31 70 343 BSOO or e-mail to atBttoni2Wpt.net 

or writ* id Station 12. PO Box 30130. 

2BOO GO The Hague. The Netherlands 








Claustrophobia 
In a Trailer Camp 

A Strojig, if Quirky, Play 


'• ■■ l 4 '* 


L 


By Sheridan Morley 

inumunwuil HcraU Tribune 

ONDON — With pub theaters 
across London under economic 
threat as never before, we can at 


play, one that maybe should have been 
the pilot for a television series about 
hopelessness on Welsh beaches. But 
Blakeman is a powerful writer, and once 
she sorts out ner priorities she wilL, I 
think, come up with a more focused 


* 4 least celebrate the 25th birthday piece about the politics inherent in any 
of the Bush, which has done some hand- family dynamic, 
some rebuilding. Their rebirth season Still around the London fringe, it is all 

gets off to a strong, if quirky, start with too typical that it has been left to the 


“Caravan," afirst play by Helen Blake- K 
man set in a Welsh seaside holiday cam- si 
van between 1994 and 19%. We have b 
here a mother (the loudmouthed, loving if 
Elizabeth Estensen), her two daughters, tf 
and two men who end up in various u 
claustrophobic permutations sleeping p 
with all three of them. c; 

But what might in other Ayckbourn n 
hands have become a semi-sitcom about cl 
relationships gone rancid in the summer 
rain is here gradually aimed into g: 
something more political and 
philosophic. The younger man nsm tSM 
(Nick B agnail in a halting, nervy theat 
appearance) ends upa scab, steal- pm|[^ 
ing a job on the Liverpool docks KV> o 
from the older man (a weary. ■tMW 
touching Pip Donaghy) who is on 
a picket line to protest against 
precisely the new-generation freelancing ci 
that B agnail represents. ai 

So the play is as political as it is u 
personal, and in the end all the major tf 
issues about the honor of labor and the a 
political rights of workers in a time of p 
recession are reduced to an unseemly bi 
squabble about who should own a poky b; 
trailer in a run-down seaside camp. Pie- al 
dictably it is the young would-be tli 
achievers at any cost who win out 
against the older idealists, but only 
through a series of half-hearted con- 
fidence tricks. Blakeman is clearly a 
young writer of promise, with an ear for J 
the sharply fragmented dialogue of the T 
twenty something generation which re- ci 
sards education as something to be sur- ir 
vived as quickly as possible, rather like si 
chicken pox or herpes and about as C( 
useful in the long run. bt 

I guess the final irony of “Caravan" hi 
is that an extended family who might A 
once have managed a loving home are a 
destroyed not so much by rampant and le 
semi-incestuous sexual 'infidelities as L: 
by the desire to take control of a run- C 
down and claustrophobic trailer which st 
anyone in their right mind would have st 
sold off years ago. now that cheap in 
flights to Spain offer a sunnier altem- se 
ative. But * ‘having somewhere to go" is bi 
essential to these people, and the au- bi 
rhor's final point is that none of them in 
have anywhere to go, professionally. d< 
maritally or even domestically. C 

It is a bitter and gloomy conclusion to re 
a sometimes funny and oddly touching di 


Still around the London fringe, it is all 
too typical that it has been left to the 
King's Head, under grave threat of clo- 
sure unless the London Arts Board can 
be persuaded by the administration that 
if Islington is indeed heartland Blair 
then closing its major and oldest-es- 
tablished theater might not be the best 
possible advertisement for the new arts- 
caring Labour, to give us the first major 
revival since the war of a long-lost 1917 
classic. 

“Dear Brutus'* was the play that 
gave Gerald du Maurier one of his 
greatest roles, a strange, haunt- 
im ing tale of a magic wood which 

f allows its visitors a second 
chance ar the lives and the chil- 
dren they have missed. Located 
somewhere halfway from “Wiz- 
ard of Oz“ to “Star Wars” it is 
an unwieldy, unfashionable, pre- 
cious piece but it shows us exactly how 
and why James M. Barrie anddu Maurier 
were so obsessed with “Peter Pan" and 
the idea of time travel! It is by no means 
a great play, but Stephanie Crawford's 
production on a tiny set and an even tinier 
budget makes one ache to see it brought 
back to full and expensive life. Maybe 
after their “Lion King" this should be 
the next Disney musical. 



2 Rarities From St. Petersburg 



By David Stevens 

iHtonutiorul Herald Tribune 

P ARIS — Two rarities in superbly effective pro- 
ductions made up this season's Paris visit of Sl 
P etersburg’s Maryinsky Theater — "Boris Godun- 
ov” in Mussorgsky 'sfiret conception and Prokofiev’s 
comic “Betrothal in a Monastery." 

The concentrated impact of the composer's first thoughts 
for "Boris” — rejected by the Maryinsky in 1869 and long 
forgotten — is so different from the later expanded version 
and its various re-orchestrations that it can only be thought of 
as an entirely different work. 

Its seven scenes, focusing on the figure of the tormented 
czar and ending with his death, have a power that is undiluted 
by the decorative Polish act of the 1 872 rewrite or the folkloric 
solos later added for secondary characters. ■ 

This was particularly evident in the new production first 
seen in Sl Petersburg last June and repeated at the Theatre des 
Champs-Elysees. which runs with oat an intermission and 
employs a rustic single set by Igor Makarov, reducing the 
break between scenes to a minimum. 

Valery Gergiev's musical leadership had a directness that 
matched the simplicity of Alexander Abadashiaris staging. 
Nikolai Pu tilin’ s Boris had the bass-baritone resonance and 


stature for the role, but Konstantin Plu zhnik ov's conmvtng_ 
Shuisky and Mikhail Jut's Pimen also excelled. 

Hus is actually the Maryinsky’s first production of the 
version it once rejected. Other theaters have shown interest in 
this version in recent years — after all it is cheaper to put on 
than the later versions. It may well become a repertory staple 
instead of an academic curiosity. 

Prokofiev's comic opera, based on Sheridan's “The Du- 
enna," is not a work that sells itself. It is a complicated 
business, full of zany intrigue and mistaken identities. It 
requires a number of accomplished singing actors and firm 
musical control — which it had from Gergiev. 

But Prokofiev's score, with its mercurial changes from 
comic to romantic mode, is worth the effort This might not 
have been so evident if the Maryinsky troupe were less rich tn 
fine singing comedians.. Larissa Diadkova was the first among 
equals as the lusty contralto duenna, aided and abetted by 
Fyodor Kuznetsov ’s amorous fish merchant, Nikolai Gassiev ’s 
character tenor father, and Olga Trifonova and Yevgeni 
Akimov as the fresh-voiced principal pair of young lovers. 

“Betrothal" can easily seem overiong ana hand to get off 
the ground, but Vladislav Pazi’s staging — closer to corn- 
media dell’ane than 18th-century English farce — and Alla 
Kozhenkova’s decorative and quick-changing sets and cos- 
tumes (aided by detailed surtitles) drew plenty of laughs. 


A ND finally, after a very brief 
Soho basement season last 
year. “The Slow Drag" has 
graduated to the Whitehall. 
This is still essentially more of a jazz 
cabaret than a play, but it tells the amaz- 
ing story of Billy Tipton, a jazz mu- 
sician who only after death was dis- 
covered by an aghast coroner to have 
been a woman. Tipton died in 1989. but 
his story is essentially that of the 1950s 
American nightclub circuit where being 
a man was somehow more acceptable at 
least when blowing any kind of a horn. 
Liza Sadovy plays Billy, called Johnny 
Christmas here, on ana off the band- 
stand, while Kim Criswell sings the 
standards of the period while also play- 
ing his “wife" who alone knew the 
secret. Issues such as feminism, les- 
bianism and racism are duly given a 
brief airing, but in a 90-minute no- 
intermission show with more than a 
dozen jazz standards to be celebrated by 
Criswell and an on-stage quintet, there 
really isn’t too much time to look at the 
drama of this bizarre bisexual story. 


Hop Gfedmnkig (kjp 2 phuknl 

From top . Liza Sadovy as the jazz 
musician “ Johnny “ with his 
“wife" Kim Criswell in “The Slaw 
Drag " ; Mark Eden and Ken Perry 
in “Dear Brutus" 


BOOKS 



THE HITLER OF 
HISTORY 

by .Infill Lukacs. 279 paxes. 
Alfred A. Knopf. 

Reviewed by Christopher 
Lchmann-Haupt 

E VEN after so much has 
been said and written 
about Adolf Hitler in the half- 
century since his suicide in 
April 1 945. a truly clear pic- 
ture of l he German fuehrer 
has jet to emerge. Popular 
images of him still collide in 
one’s mind: the ranting anti- 
Semite against Chaplin's 
clown dictator against the 
hypnotic orator who seduced 
a’ nation. AH that seems 
agreed upon is his incompe- 
tence asamilitary strategist in 
having attacked the Soviet 
Union and drawn the United 
States into a w ar he could not 
possibly win with U.S. par- 
ticipation. 

In his 19th book. “The 
Hitler of History,” the his- 
torian John Lukacs has at- 
tempted to resolve these con- 


flicting images by writing not 
a history of the man but "a 
history of a history: the his- 
tory of the evolution of our 
knowledge of Hiller, apparent 
as that is in the writings of a 
great variety of his many bi- 
ographers." 

Disturbingly, he concludes 
that Hitler was a far more able 
statesman and strategist than 
many have given him credit 
for bring. 

"He may have been the 
most popular revolutionary 
leader in the history o<" Jie 
modern world." Lukr.j 
writes, emphasizing r 1 - word 
popular "becau e .ntler be- 
longs to th** l.mocratic. not 
the ari**: ..rjlic. age of his- 
tory." And far from being a 
bumbling military leader. 
Hitler alwa> s had a method to 
his madne-s. Lukacs con- 
cludes. 

These are si prising, even 
shocking, con-lu ions, but 
Lukacs arrives at hem with 
painstaking, exhau.-tiv; logic 
that is hard to re. si.- 1 . He be- 
gins with a chapter sun eying 


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the most significant of the 
more than 100 biographies 
written since interest in Hitler 
revived in the 1960s, from 
what he considers the best 
short biography. Ernst Deuer- 
lein’s "Hitler Eine Polit- 
ische Biographie,” to the best 
long one, Joachim Fest’s 
"Adolf Hitler A Biogra- 
phy," to the most “substan- 
tial partial rehabilitation of 
Hitler." David Irving’s 
“Huier’ r War," which he at- 
tack" .or its exaggerations. 

fhis chapter culminates 
with an account of a bitter 
historians' controversy, or 
Historikereireit. that erupted in 
19S6 over two neoconservat- 
ive books that, in one case, 
amounted to a partial exon- 
eration of Hitler, and. in the 
other, “a rehabilitation of 
some of the efforts of the Ger- 
man armed forces, including 
some National Socialist offi- 
cials of the Third Reich, 
though not of Hitler." Lukacs 
deplores this controversy, not 
only for the inaccuracy of the 
positions taken by the books in 
acquitting Hitler and the 
Nazis, but also for the threat 
the reaction to them has posed 
to “the acceptance of a gen- 
eral consensus for which many 
respected German historians 
and intellectuals had been 
aiming for at least 40 years.” 

He then takes up the central 
issues raised by the biogra- 
phies. Among these are when 
and where Hiller’s ideas ac- 
tually crystallized; whether 
he was a reactionary or a rev- 
olutionary; the extent and 
nature of his racism, patri- 
otism and nationalism; his 
abilities as a statesman and 
strategist, and the evolution 
of his enmity toward Jews. 
Because lie often analyzes 


subtle differences, Lukacs's 
reasoning can sometimes 
grow tedious, although it in- 
variably yields significant re- 
sults. 

Finally, what emerges is a 
complex portrait of Hitler that 
reconciles the conflicting im- 
ages. 

Hitler was no madman, 
Lukacs writes. A voracious 
reader, a genius at grasping 
complex technical data, he re- 
membered everything and 
understood military strategy 
profoundly. 

Nor was Hitler an aberra- 
tion in German history, 
Lukacs concludes. He har- 
nessed forces of modernity 
strong enough to have sur- 
vived him. 

Y ET Hitler’s evil genius 
proved a catastrophe for 
the German, as well as the 
Central and Eastern Euro- 
pean, peoples, leading to the 
Communist occupation, the 
reduction and division of 
Germany, the end of Euro- 
pean predominance, and the 
end of Germany's intellectual i 
influence in Europe. 
Moreover his policy toward 
the Jews produced the oppos- 
ite of what it intended: anti- 
Semitism became unaccept- 
able, if not unthinkable; the 
stale of Israel was accepted 
internationally if not univer- 
sally. 

As Lukacs concludes his 
arduous - but worthwhile 
study, “We are not yet fin- 
ished with Hitler," ne says. 
As appalling as this statement 
may sound, Lukacs makes it 
seem reasonable without re- 
ducing the urgency of pre- 
venting anything like him 
from ever happening again. 
New York Times Sen ice 


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STAGE/ENTERTAINMENT 






inese Opera Descends Gloriously on Hong Kong 


| By Alison D akota Gee 

TIT ? NG W — It was a curi- 
H B °J 1S s, 6to floating among the 
I I I gleaming commercial centers 

jTr a , nd L pnce y high-rise apan- 
itxi blocks that form Hong Kong's 
muculous skyline: an immense bal~ 

Hi™? Md white to 

ramble the face of a classic Peking 
Ocra performer. 

he balloon, tethered to the Hon® 
Ml Cuitura! Center, heralded the re! 
S T 5 j 1 f hinese Opera FestivaL It 
w{ a dazzling, ambitious event that 
b«igh! hundreds of China’s most fa- 
rdis and respected directors, actors, 
nfctcians. comics and acrobats to Hong 
*PS- Eighteen troupes from provinces 
rfar flung as Chongqing and Sichuan 
dveled from the mainland to perform 
f “' eu — new compatriots across the 
F der - Twenty- six Cantonese opera 
pups from Hong Kong also appeared. 


The 23-day spectacle ended last week. 
Full-house audiences reveled in the 
stunning color, whine and fury of the 
Anhui Provincial Hui Opera Troupe’s 
classic "The Drunken Beauty." (Al- 
though Anhui is a largely rural and 
impoverished province, Anhui opera is 
one of the oldest and most refined forms 
of Chinese opera. It is perhaps Peking 
Opera’s most formative influence.) 

The curious came to see Shanghai 
Jingsu Theater Group’s performance of 
the Cultural Revolution production, 
"Taking Tiger Mountain by 
Strategy." 

Mao Zedong's wife, Jiang Qing, who 
cultivated a lifelong passion for Chinese 
and Western opera, had originally 
ordered this experimental work to be 
made as a fusion of Maoist ideology and 
Chinese opera. 

The Shanghai Comedy Troupe, one 
of the youngest forms of Chinese theat- 
er, also played to packed audiences. 
Throughout the 1940s and ’50s, the 


company held an important place in 
Shanghai life. During that period, 
people there would customarily switch 
on their radios to ihe troupe's evening 
show. As the sun set across the 
province, roaring laughter could be 
heard from almost every household. 

Many of the festival’s operas had 
never been staged outside the mainland. 
What’s more, most of the visiting per- 
formers had never before left their coun- 
try. For Hong Kong people who are now 
aggressively forging cultural ties with 
the motherland, the event marked the 
crossing of a cultural threshold through 
portals that had long been sealed shut 

Chinese opera is considered to be one 
of the mainland's national treasures. 
But it is no coincidence that this ag- 
gressively pro-Chinese performing art 
showcase is happening only now. In 
July, when Britain returned Hong Kong 
to China, it also relinquished control 
over its Urban Council, a powerful gov- 
ernment-run organization that guides 


Today her lather is working in Lyons, 
fonightjshe's playing in Oslo. So it won't be possible for them 
to be together on one of the most important evenings of her yoimg life. 

J But soon, it will be. 

I A few years ago, the Parliament of Norway approved a plan 
j to construct a totally new international airport that would streamline service to Oslo. 
j It was a challenging project that presented some serious problems for the builders 

l until they met the engineers of ABB who showed them how ingenious engineering 

i could help provide some answers. 

i Now the project is underway and ABB and its partners are turning 

y { the new airport at Gardermoen into a reality. 

| New runway lighting will help make landings and take-offs safer and more punctual: 

the computerized control equipment for a new baggage handling system 
will make getting out of the terminal easier; and the associated rail connection 
will make getting home quicker. 

To the Norwegian public, it will mean safer and more efficient 
travel to and from Oslo. But to the lather of one young violinist. 

! it will mean something far more. 

I Because on an evening when his daughter is playing 

j Schubert's ‘Sonata in B Flat’, be will be there. 


INGENUITY AT WORK 


A 



CROSSWORD 


ACROSS 

i iv>th 6- Across. 

.macked 

verbally 
5 SCO t- Across 
i0 Key 

14 Circumvent 

15 twelve. tMll ot 
trvume 

is Cast otl 
i7 E.ir reldied 
leJilch.swJto 

f.penk 

IS W'Htew.ltO' 
corner 

Haliowrcn 
costumes 
23 Eiteird 5 C0<m lc 
tame 


24 ‘ Tu" 1 70 's 

tut) 

as Knot again 

27 Charlotte russe. 
lor one 

30 MonS slick 

31 Kind of support 

34 Big section in a 
PlCWMWV 

35 -The Fabulous 
Baker Boys' 
actor 

38 Journal 
publisher 

40 Starts to cry 

41 Venue 

44 One dJ the 
Apostles 

48 Where a bangle 
may dangle 


48 Hunt and peck 
si Have a go alt 
ss Golden 
parachute, e. g. 
ss Fly high 
57 Onetime airline 

ss lunch 

59 Drink with Stilton 
so Michelangelo’s 
work 

61 Part of a wood 
joint 

82 Common links 

63 The supreme 
Supreme 

64 Observatory 
observations 


Solution l« Puzdc of Nov. in 


ilESIIi 



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2 Tear apart 
aGemoiogist's 
concern 
4 Round cheese 
sTakeoul 
g Flotation device 
rUtopedrope 

8 Morrison and 

Braxton 
e small tails 

10 Handel's* 

mEgys#’ 

11 Hovels 

12 Southpaws 

13 Summer hrs. in 
DC. 

it Send another 
way 


22 Prefix with state 
28 Sounds ol fluster 
28 Quito- to-La Pax 
dir. 

2B Govt, watchdog 
30 Senior citizen 

32 Sp. lady . . 

33 Places tor flight 
patterns 

35 Unenlightened 
38 Gloomy guy 

37 Center starter 

38 Pie-mode 
connection 

a# Wet time 

42 Signals 

43 Jackie's sister 
45 Site of the forges 

of Hephaestus, 
in myih 

48 Daniet Webster, 
e.g. 

47 Hose 

49 Complete, 
informally 

so The Wtfd Swarm 
at Code' poet 

83 (lean give you a 
lift 

54 Kinder- 
garteners 

55 Puccmi’s 

“Flower — ‘ 
sc Place to unwind 



Pazzla ty EUnbam C. GenM 


ONow York Times/Edited by Will Shorts. 


Hong Kong’s culture! life. Supporters 
of Chinese art claim that the colonial 
government mainly focused on support- 
mg the Western arts, such as the Hong 
Kong Ballet and the Hong Kong Phil- 
harmonic. Tang Yuen-ha, an adviser to 
the Urban Council, said, "Before 1997, 
nobody gave a damn about Chinese 
opera. ’ ' She said that, although she pro- 
posed to bring many of the mainland's 
finest performers to Hong Kong, “The 
council objected. They said Chinese op- 
era is not local culture." 

Chinese opera troupes have been dis- 
banding at an alarming rate, and arts 
supporters in Hong Kong now believe i t 
is their duty to promote, preserve and 
develop Chinese opera. 


“It is the right rime for us to take 
over,” Tang said. China, she added, has 
great artists but “no modem knowledge 
about how to market the art form." 

Hong Kong, with its relative eco- 
nomic and political stability and strong 
ties to the West, can create an appro- 
priate way of packaging Chinese opera 
for the rest of the world, she said. 

Sir Run Run Shaw, the movie mogul 
who runs the Shaw Brothers Studios, 
has pledged funds to refurbish the mag- 
nificent Yifu Theater in Shanghai, a 
venue that traditionally hosts Chinese 
opera companies. 

Already. Hong Kong aficionados 
have managed to preserve several forms 
of Cantonese opera from southern 


China. As one example, an 
amateur Chaozhoh group that 
almost exclusively performs for ^ 
its own family members made a rare * 
public appearance. Their stylistic dis- 
tinction: using 6-inch (! 5-centimeter) 
paper puppets in their shows. 

■'The form they practice is already 
lost on tie mainland,'’ said La Tak- 
sing. an Urban Council executive who 
coordinated the festivaL "We captured 
the company on video tape for posterity. 
Soon the only surviving performers of 
this type of opera may die and take thcii* 
art with them.” 

Alison Dakota Gee is a Hong Kong- 
based journalist. 



Brian Wilson ? Still Enigmatic 


I By Jon Pareles 

New Yi>rH Times Sen-ire 


N EW YORK — In the chaos of 
popular music. Brian Wilson 
has emerged as one of this 
fall's strange attractors, a ref- 
erence appearing too often for coinci- 
dence. Capitol Records has just released 
"The Pet Sounds Sessions," a four-CD 
set based on the 1966 Beach Boys album 
that lasts all of 36 minutes. 

The present-day Wilson has showed 
up alongside his daughters, Camie and 
Wendy, as a producer, songwriter and 
backup vocalist in four songs on their 
album “The Wilsons” (Capitol), and he 
wrote a new song for it with Tony 
Asher, his lyricist from “Pet Sounds." 

Meanwhile, Wilson's productions 
with the Beach Boys in the mid-1960s 
have become a presiding spirit for al- 
temative-pop songwriters like Sean 
O' Hagan of the High Llamas, Eric Mat- 
thews and Carl Stephenson, who re- 
cords as Forest for the Trees. 

In a stance that’s perennially appeal- 
ing to fellow musicians and the most 
devout music fans, their example insists 
that music is much easier to handle than 
life. Holed up in recording studios, they 
construct songs not to reflect reality but 
to escape it. 

For years, Wilson has been celebrated 
as both pop genius and lost soul. Re- 
cognition for his music goes together 
with half-ironic appreciation of the for- 
lorn. reclusive oddball that Wilson be- 
came. “Brian Wilson," a song by the 
Canadian pop-folk group Barenaked 
Ladies, jokingly and affectionately iden- 
tifies with excesses that accompanied 
Wilson’s inspirations: putting his piano 
in a sandbox, the days he spent stating at 
the ceiling, his weight problem. 

Whatever contortions musicians now 
put themselves through in making an 
album, no matter how much they agonize 
over details, they can look back at 
Wilson in the mid-1960s — when he 
made "Pet Sounds" and the even more 
ambitious but aborted "Smile" — and 
fed as if they're not the only ones grow- 
ing increasingly strange in the studio. 

His emulators now follow him, hop- 
ing to make two kinds of escape: into 
the control of pop craftsmanship and, 
with three decades of hindsight, into a 
past full of promises that never came 
Hue. In 1966. Wilson sang "I Just 
Wasn’t Made for These Tunes’ most 
of his 1 990s disciples agree even more 
wholeheartedly. They long for a Cali- 
fornia of leisure and possibility, when 
even the alienation and loneliness that 
suffuse "Pet Sounds" arrived with the 
warmth of an orchestra. 

"Let's rebuild the past, 'cause the 
future won't last," Sean O'Hagan 
sings on the High Llamas’ "Ha- 
waii." the most obsessive “Pet 
Sounds" homage yet. 

“The Pet Sounds Sessions” box 
might as well be marked “for ob- 
sessives only." It includes the original 
mono and a new stereo mix of the 
album, vocal-only versions of the 
songs, alternate takes and instrumental 
tracks punctuated by studio chatter. 

The smppets of talk reveal Wilson 
tinkering with the sounds of instru- 
ments, coaching musicians and meth- 
odically working through arrange- W 
ments. a professional with only a few ^ 



Wilson joined daughters Camie (left) and Wendy on their ne \ r album. 


off-the-wall asides. Wilson brought all 
his innovation to bear on "Pet Sounds," 
leaving surf music behind for elaborately 
arranged songs about private longings 
and the loss of innocence. 

The album was a landmark that 
goaded the Beatles toward "SgL Pep- 
per's Lonely Hearts Club Band" and 
also spurred many less successful studio 
concoctions of the late 1960s. "Pet 
Sounds" was forward-looking, with its 
peculiar song forms — foil of ambigu- 
ous harmonies and unexpected inter- 
ludes — and its willingness to try the 
most unlikely instrumental combina- 
tions. Yet at the same time, it connected 
1960s rock to earlier eras of pop, when 
meticulously arranged Hollywood stu- 
dio orchestras accompanied Frank Sina- 
tra or the Beach Boys’ vocal model, the 
Four Freshmen. 

"Pet Sounds” drew its enigmatic 
aura from unusual combinations of ex- 
isting instruments, like the 12 violins, 
piano, 4 saxophones, oboe, vibraphone, 
2 basses, percussion and a guitar with a 



mm 



Wilson was a guiding spirit for alter- 
native-pop musicians like Sean O' Hagan. 


Coke-bottle slide on “Let's Go Away 
for Awhile." Like older pop, “Per 
Sounds" was based in acoustic son- 
orities; it didn't plunge into an elec- 
tronic wilderness, as Jimi Hendrix 
would soon afterward. 

Pop introspection had been around 
before "Pet Sounds." But for rock 
songwriters, the album sanctioned a 
new kind of distance between song- 
writer and audience. Wilson, who had 
stopped touring with the Beach Boys, 
was no longer intent on pleasing crowds 
or even writing songs that could be 
performed live. He was turning inward, 
ignoring not just commercial imperat- 
ives but the entire outside worid. 

His fens among musicians have hap- 
pily followed that mandate. Many re- 
treat into pop, perfecting their songs as a 
refuge from messy love affairs or pain- 
ful memories. Younger songwriters are 
more self-conscious than Wilson was on 
"Pet Sounds"; unlike him, they have a 
model to follow. And they’re only a 
little defensive about their choice. 

"It’s not so bad to wake and find 
that dreams were just a play," Eric 
Matthews, formerly of Cardinal, 
sings on his second solo album, 
"The Lateness of the Hour. ’ ’ 

Wilson’s own isolation wasn’t an 
aesthetic choice. He broke down in 
the 1970s and has never entirely re- 
covered. His public appearances are 
rare and heartbreaking; during a 
songwriters’ showcase in New York 
a few years ago, he panicked with 
stage fright midway through “Car- 
oline, No.” 

Van Dyke Parks, his old collab- 
orator (“Surfs Up," “Heroes and 
Villains"), wrote an album of songs 
about the lost California dream, "Or- 
ange Crate Art," for Wilson to sing; 
his slurred articulation and fraying 
tone complete the songs' disillusion- 
ment 

On "The Wilsons." his vocal 
cameos are enthusiastic but just as 
troubling. The harmonies and non- 
sense syllables that once sounded 
tike pure pop grace now undermine 
any reassurance. “Miracle." one of 
the songs he collaborated on, spells it 
out: "Time makes a mockery of all 
your dreams.” 


Ustinov Triumphs at the Bolshoi 


By George W. Loomis 


M OSCOW — Recently the 
Bolshoi Theater has been in 
the news as much for the 
turmoil in its administration 
as for the artistic vigor of its opera 
performances. 

Since 1995 the dancer and choreo- 
grapher Vladimir Vassiliev has served as 
artistic director, promising to import, in- 
ternational talent. So far the results have 
been sparse, and such a strategy may not 
be right in any event for a company with 
indigenous national traditions and 
which. like ail Russia's artistic insti- 
tutions, is short on funds besides. But last 
week it yielded a triimjph: Sir Peter 
Ustinov's first staging in Russia, a new 
production of Prokofiev’s "Love for 
Three Oranges.” 

Ustinov's family left Russia in the 
1860s and his ancestry is broadly Euro- 
pean, but the Russians — who know his 
writings from translations — regard him 
as almost one of their own. Along with 
Russian blood; opera is in his veins. On 
his mother’s side was Alexander 
Benois, the set designer. He is a de- 
scendant of A. K. Kavos, who designed 
the Mary insky Theater in St- Petersburg, 
and be even traces his way back through 
an Italian branch to the tenor Antonio 
Baglioni, the first Don Ortavio. 

“Another Baglioni was a buffo ten- 
or," Ustinov noted in his suite at the 


National Hotel before the premiere, 
adding in quintessential Ustinovian 
fashion, "Now what do you suppose 
thar is?” 

In 1962, Georg Solti persuaded 
Ustinov to stage a memorable triple bill 
of Puccini's “Gianni Schicchi." 
Ravel’s “L'Heure Espagnole” and 
Schoenberg’s “Erwartung” at Covent 
Garden, and he has turned up in lucky 
opera houses on occasion ever since. He 
did a * * Don Giovanni ’ ' with Daniel Bar- 
enboim in Edinburgh and productions 
for Paris, Milan, Dresden and else- 
where. But he acknowledges the frus- 
trations of opera. 

"You get things just about the way 
you want them, then comes the first 
orchestra rehearsal and from then on the 
singers look only at the conductor. " 

He held their attention this time. Both 
the opera's fanciful story, derived from 
a grotesque theatrical satire by the 18th- 
century Venetian Carlo Gozzi, and 
Prokofiev’s high-strung score cry for 
the kind of richly imaginative treatment 
Ustinov supplied. 

It’s tiie sort of opera that directors 
bent on clowning around with the gods 
of Wagner's “Ring” ought to consider, 
except they probably wouldn't do as 
good a job. The King of Clubs and his 
jester Truffaldino, like Wotan and Loge, 
confront a problem — the young 
Prince’s "chronic hypochondria” — 
and no sooner do they solve it than 
another arises in its place, necessitating 


the Prince’s quest for the three oranges 
(and true love). 

And just as the "Ring" producer 
decks the stage with symbolic disks and 
circles, here the spherical shape of the 
oranges recurred, like a visualTeitmotif, 
in ever more whimsical ways, from the 
entrance of the sorceress Fata Morgana 
in a fireball to the appearance of a cloud 
made up of black balloons, clustered 
like grapes, bringing relief to a parched 
princess. And let’s not forget the huge 
round breasts of the Cook, zealous 
guardian of the oranges and sung by a 
bass (Vladimir Kiraos). It all typified 
the gentle fun Ustinov’s sight gags had 
with the story. 

H APPILY, the musical perfor- 
mance matched the visual 
one. Sergei Gaidey's focused 
voice served him well as the 
Prince, whether whining in reaction to 
supposed maladies or expressing love 
for the Princess Ninetta, sung = 
fragile delicacy by Svetlana Trifonova. 
Vladimir Matonn sang with rotund 
tones as the King. Vladimir VouT 
arovslg was a resourceful Truffaldino' 
Olga Kurzhumova a formidable FatS 
Morgana, whose iron handstX 
brought her rival Celio (A1«S 
Naumenko) to his knees. Peter 
led an alert, c oordinated t perfon^ 

George W. Loomis is a St Pet^u 
based writer on music. “ ?rsAu 'S- 



PAGE 14 


SPONSORED PAGE 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, NOVEMBER 19, 1997 


'SPONSORED PAt-l 


INTERNATIONAL FRANCHISING 


Looking Abroad 
For Expansion 

The VS. franchise market is expected to be worth 
$J trillion by the year 2000. But why stop there? 


A lthough the U.S. mar- 
ket continues to 
present opportunities 
in innovative franchises that 
meet new needs (relating to 
computers, for example, or 
increased demand for child 
care), “international” is in- 
creasingly the engine that 
drives the domestic side, par- 
ticular in such mature market 
segments as fast food, hotels 
and car care. 

■ A recent study done by 
Arthur Andersen concluded 
that virtually all U.S. tren- 
ch isers that had expanded 
overseas are satisfied with 
their experience and want to 
increase non-U.S. franchises. 
The study found that the Pa- 
cific Rim and Latin America 
were the two most fertile 
areas for expansion. 

Nancy Womack, the di- 
rector of international affairs 
for the International Fran- 
chise Association, attributes 
the boom to local entrepre- 
neurs and national govern- 
ments' realizing the econom- 
ic benefits of franchising. 

Decent exposure 
They have also been influ- 
enced by exposure to fran- 
chise conferences, travel in 
the United States and by the 
media, which highlight U.S. 
products and services. 
Thanks to downsizing, once- 
protected professional work- 
ers in other countries are sub- 
ject to the same pressures that 
have led their U.S. countcr- 
parts to become entrepre- 
neurs. 

“With the advent of the 
Internet we are truly a global 
economy." says Xavier Par- 
raga, the real estate agency 
Century 2 Is vice president 
Ibr international develop- 
ment. “There seems to be a 
thirst for franchising 
throughout the globe." In 


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many countries, growth is 
being fueled by die newly 
emergent middle class, he 
adds, which is fertile ground 
for services such as real es- 
tate brokers. 

Surprisingly, the Andersen 
study concluded that most 
who decided to expand 
abroad did so as a result of an 
inquiry from a potential fran- 
chisee. not because of any 
aggressive marketing on 
their port “Franchisers ad- 
mit that they expand into oth- 
er countries because of con- 
tacts.” Ms. Womack says. 
“It's unusual for franchisers 
to initiate a country. Contacts 
are even more important than 
whether there's a market 
need." 

Linda Weissman founded 
Tutor Time, a child-care 
franchise. 1 8 years ago: since 
then, it has ridden on the 
rising wave of working 
mothers. Ms. Weissman was 
concentrating on managing 
her U.S. franchises when an 
Indonesian brother-sister 
team approached her about 
opening a center there. Co- 
incidentally. she has since 
sold a master license for 
Malaysia, and she is now ac- 
tively negotiating with sev- 
eral other territories. “We 
weren't even thinking of in- 
ternational until they came to 
us." Ms. Weissman says. 

Sanford Rose Associates, 
on the other hand, is the kind 
of franchise that seems tai lor- 
made for the international 
market As a recruiter of ex- 
ecutives for multinational 
companies. Sanford Rose 
looks for people who have 
had multinational experience 
or have worked or traveled 
abroad extensively. Last 
year, its first non-U.S. office 
opened in Singapore, with 
more expected within the 
next year. 

Similarly, Interface Finan- 
cial is typical of the highly 
specialized kinds of fran- 
chises now taking hold 
alongside the McDonald’s 
and Days inn giants of the 
franchising world. 

The only franchise of its 
kind, according to its founder 



ki an example of site-sharing, Sears now offers a new sendee: an oil change. 


and president, David Ban- 
field. it enables small busi- 
nesses to gain immediate 
working capital by buying 
their outstanding invoices. 
Owners of the 17 domestic 
franchises tend to be older 
(aged at least 45) people, 
who own other businesses 
and do this on the side. 

Since the franchisee only 
buys assets as receivables, 
rather than lending money 
outright, the franchise is not 
subject to local regulations. 
Mr. Banfield is in discussions 
with Australia, New Zeal- 
and, Britain and Germany. 

All franchisers follow the 
time-tested model of grant- 
ing a master license for a 
particular country or region 
to one subfranchiser, who in 
turn sells franchises within 
his or her territory. This dif- 
fers from the domestic mod- 
el, whereby the franchiser 
sells each franchise individu- 
ally. 

Steamatics, a commercial 
cleaning service, has had to 
adapt its service to 20 na- 
tions. International Vice 
President Bill Sims requires 
each master licensee to open 
a pilot model and keep it 
open for a certain period of 
time. The model, in turn, be- 
comes a salesroom for selling 
the franchise locally, ‘it’s 
much easier for us to support 
one master franchise, then 
they support the people in 
their own country," Mr. Sims 
says. 

This model seems to be the 
most efficient way of exploit- 


Job Generator 

The number of U.S. workers employed in franchises is 
estimated at more than 8 million. Some 170,000 new jobs 
were generated last year by franchises. 

Biggest franchises (by category) 

1. Restaurants 

2. Retailing, nonfood 

3. Hotels/motels 

4. Business aids/services 

5. Automotive products /services 

6. Convenience stores 

7. Retail food, non-convenience food 

8. Auto/taick rental 

9. Construction/home improvement 
10. Recreation 

Source: International Franchise Association 


ing a foreign country, where 
the franchiser does not have 
the ability to oversee the op- 
eration as carefiilly as on 
home turf. “The master li- 
cense is still the most im- 
portant way of doing it," the 
IFA's Ms. Womack says. 

But in a case of bringing 
home a method that works 
abroad, some franchisers, she 
adds, are beginning louse the 
same concept domestically. 
Of course, some franchisers, 
like Sir Speedy, use regional 
franchise directors to sell dif- 
ferent areas of the country. 


“International Franchising" 
was produced in its entirety by the Advertising Department 
of the International Herald Tribune. 

Writer: Steve Weinstein in New York. 

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I 

Co-Branding: Two for One 

In co-branding, two or more franchises team up in one location. 


T he concept of co- 
branding allows a 
franchise to go into a 
limited market, such as an 
ahport or hospital, or where 
real estate prices arc high and 
available sites scarce. It also 
allows for "one-stop shop- 
ping'* for consumers. where 
the products or services com- 
plement each other, such as 
Taco Bell and Domino Pizza, 
or Baskin Robbins and 
Dunkin’ Donuts. 

The concept has since ex- 
panded into franchises' rent- 
ing space within an existing 
store chain. Jiffy Lube, for 
example, has been very suc- 
cessful teaming up with 
Sears Auto Centers. The 
three-year-old agreement has 
been successful for 40 fran- 
chise-operated and 1 30 com- 
pany-operated sites. Jiffy 
Lube pays Sears a foe based 
on sales — the equivalent of 
renting space within the 
Sears Centers. 


For Jim Wheat, president 
of Jifly Lube, Sears’ loca- 
tions in shopping malls 
provide convenience and ac- 
cess to consumers. “If they 
have to do other shopping, 
they can get their oil 
changed,” he says. “After 
(hey experience us once, they 
will come to our shop be- 
cause of the service they got 
in Scare." 

Ziebart, a car customizing 
and auto protection service, 
is in the process of nego- 
tiating three different co- 
branding transactions in the 
United States, Hungary and 
Germany. 

The deals, if they come to 
fruition, will allow the com- 
pany to bring different demo- 
graphics to their service. 
“I’m excited about co-brand- 
ing,” says Ziebart's Greg 
Long, who hints that the 
agreements may involve car 
dealerships, “In the fest-food 
industry, it's long been pop- 


ular, but not for care. Wera ve 
a broad base, from youhfol 
to older customers. Thehost 
companies love die idd of 
bringing customers in fc the 
first time. They can c>ss- 
seil." The protection serice 
requires annual renewal so 
Ziebart brings potential us- 
tomers in every year. FoMr. 
Long, "The home run ishe 
economies of scale: the sate 
sales force, same produepn 
crew, same real estate. he 
business just enjoys addi tri- 
al sales." 

Since the beginning ofie 
year, RadioShack Select Is 
awarded dealerships in srril 
towns, teaming up with c- 
isting retailers. Many of t 
1S5 RadioShack Selects * 
in Ace Hardware, True Vali 
or other outlets, but there 
no formal agreement ye 
"Ace is interested, as is Tru 
Value,” says Len Clegg, gen 
era! manager of Radit 
Shack's dealer franchises. • 


Franchising on the Web 


They work for the franchiser, 
however, and are not them- 
selves master licensees. Cen- 
tury 21 used to operate mas- 
ter territories in the United 
States, but parent company 
HFS bought back the last one 
in 1996. 

Even so, in small towns 
and sparsely populated rural 
areas, it can make particular 
sense to grant U.S. master 
licenses. Fora franchise to be 
economically feasible, a 
franchisee must have a vir- 
tual monopoly to serve so 
few people profitably. • 


Nearly every corporation that is franchising 
its product or service has a Web site. Usually 
these can be found by using the product or 
company name as a key word: for example. 
Sea I master, which provides pavement main- 
tenance products and equipment Its Web site 
is www.seahnaster-ind.com. 

• Central information sites: 

The International Franchise Association 
(I FA): http://www.franchise.oig 
Franchise Doctor 
httpy’/www. franchisedoc.com 
Frannet http://www.frannet.com 
International Franchise Research Centre: 
http^/www. wmin.ac.uk/-purdyd/ 

• Government agencies (UJS. only): 

CIA (country profiles): httpy/www. 
odci.gov/cia/publications/pubs.html 
Federal Trade Commission: 
http-y/www.ftc.bcp/franehise/netfranJitm 
U.S. Small Business Administration: 
http://www.sbao nlinc.sba.gov/worksh ops/ 
franchises 

Statistics (U.S. only): 

UJS. Commerce Dept International Trade 
Administration: http://www.ha.doc.gov 
U.S. International Trade Commission: 
http://www.usitc.gov 


• Corporations and trade associations: 
American Bar Association Fonim on Fran- 
chising: http y/www.aban e t o rg 

Be The Boss: http://www.betheboss.com 
National Federation of Independent Busi- 
nesses: httpy/w ww.nfibonline.com 
Export Hotline and Trade Bank: 
http://www.exportweb.com 
Export-Import Bank: 
httpy/206.3.143.3/contents.html 
Franchise Development Services Ltd.: 
http://www.ds.dial.pipex.com/fdsl 

• National (non-U-S.) agencies & 
associations 

Argentina Franchise Association: 

httpy/www.copyshow. com.ar/aa f 

Austrian Franchise Association: 

httpy/ www.telecom.at/wkJms/franchise 

Brazil Franchise Association: 

httpy/www.abf.com.br 

Canadian Franchise Association: 

httpy/www.cfaexpo.com 

Franchise Association of Southern Africa: 

http://afHca_cis.co.za:8 1 /buy/ad/fesa/ 

fosal.html 

French Franchise Federation: 
httpy/www.club-intemeL fr/perso/ffiJ' 
Italian Franchise Association: 
http://www.infodata-italy.com 



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KYOCERA PRINTS 



KctalitSSribune 

BUSINESS/FINANCE 


WEDNESDAY, NOVEMBER 19, 1997 





KosrsMCE nNiurvimo 


:2i<!dDCERa 




PAGE 15 


MEDIA MARKETS 


Newsroom ‘Walls’ Fall 
Aj: Los Angeles Tin ies 

Editors Working Closely With Ad Executives 


By Iver Peterson 

New York Tunes Service 


thPil EL ? S '^ Foryears * editors 
ai thdLos Angeles Tunes talked about 

starting a weekly personal health sec- 
tion. put nothing happened. 

Thu is, until last winter, when Robert 
l Bnstp, a vice president for advertising 

f and aariceung, walked into the office of 

Michel Parks, who was then the man- 
_ editor, and said something along 
the Jnes of. “You know, weVe been 
gettpg all these HMO ads ” 



e 


lark Willes, left, and Michael Parks. 


Three and a half months later, die new 
ealth section appeared, filled with ar- 
icles about fitness and medical news — 
jand lots of advertising from health 
/maintenance organizations and other 
'health-related concerns. 

Mr. Parks, who became the editor of 
the Los Angeles Times in October, 
points to the development of the Health 
section as a mode] of the kind of part- 
nership between editors and advertising 
executives that has long been sought by 
Mark Willes, chairman and chief ex- 
ecutive of the paper's parent. Times 
Mirror Co. 

Now. Mr. Willes, who became the 
newspaper’s publisher in September, is 
pushing such collaboration far further 
than any major newspaper has done. 

In effect, he is removing most of the 
wails that separate the news and busi- 
ness departments. 

High-ranking editors and business 


executives often wok together at many 
newspapers, including Toe New York 
Times, to develop new sections. What is 
different about Mr. Willcs’s plan is the 
degree to which business people will be 
involved with the daily lives of lower- 
level editors. 

Although Mr. Willes said be was 
dedicated to preserving the integrity of 
the newspaper, his moves have raised 
considerable controversy among jour- 
nalists inside and outside the Los 
Armeies Times. 

Where Mr. Willes sees a chance to 
streamline cooperation between 
die news and business sides of the 
country’s fourth-Iargest daily 
newspaper, critics see the poten- 
tial for advertisers to gain influ- 
ence over news coverage. 

Already, an advertising sales 
representative has tried to get the 
paper to publish a news article 
about a client. Mr. Willes quickly 
rebuffed that attempt, but die in- 
cident has added to the fears of his 
critics. 

And there was speculation that 
die paper’s previous editor, Shelby 
Coffey 3d, quit in October partly 
because of the increasing inter- 
action between advertising and 
news. Mr. Coffey denied this. 

Fundamentally, die debate being 
played out at the Los Angeles Times is 
part of an argument going on in news- 
rooms across die United States about 
how newspapers should respond to de- 
cades of declining readership. 

As with most newspapers, the Los 
Angeles Times has bad a drop in cir- 
culation, from a 199 1 peak of more than 
1J2 million to 1.07 million today — 
even as the city h serves has grown. 

On Nov. 6. the Los Angeles Times 
named three general managers for news, 
with responsibility for “ maximizin g 
readership and the financial perfor- 
mance” of several weekly and daily 
sections. More general managers will be 
named later. 

“Even if every section is not prof- 
itable, I think we can move closer to 

See TIMES, Page 19 



Urn YttOgJuMiTtn* X-w-nl**! ISn. 

A foreign-exchange dealer in Seoul grimacing Tuesday during trading at the Korea Exchange Bank. The won fell to a new low against the dollar. 

Fresh Setbacks Hit Kuala Lumpur and Seoul 


Malaysia Stocks Fall 
After a Puzzling Deal 

By Thomas Fuller 

International Herald Tribune 

KUALA LUMPUR — Malaysia’s 
stock market plunged 6.8 percent Tues- 
day — to its lowest level in nearly five 
years — after the disclosure of a con- 
troversial deal that some analysts said 
amounted to a bailout for influential 
investors. 

Two government-linked companies 
shuffled their assets on Monday, with 
the country’s largest construction firm. 
United Engineers Malaysia Bhd., trans- 
ferring more than $700 milli on in cash 
into its debt-laden parent, Renong 
Bhd. 

On Tuesday, the day after the deal 
became public, investors sent share 
prices of both companies plummeting, 
and the benchmark composite index 
dropped 45.20 points, to 622.09. 

Many analysts said die seeming lack of 
transparency in Monday’s deal had fur- 
ther eroded confidence in die Malaysian 
market in die eyes of foreign investors. 

“We’re seeing a seminal event in 
Malaysia’s stock market history,’* an 
analyst with a foreign firm told Reuters. 
“You have a tremendous dilemma of 
whether to invest in Malaysia.” 

Neil Saker. regional economist at 
SocGen Crosby Securities in Singapore, 


-.-.■wwrt 


Allianz Makes $10 Billion Bid for AGF 

With Takeover , German Insurer Would Regain No. 1 Ranking in Europe 


By John Schmid 

International Herald Tribune 


. I 





FRANKFURT — Allianz AG Hold- 
ing of Germany announced plans Tues- 
day to recapture its title as Europe’s 
largest insurer with a friendly takeover 
offer] for Assurances General es de 
France SA. 

Thfc Allianz bid values France's 
second-largest insurer at .more than 18 
billiai Deutsche marks ($10.3 billion). 
The $eal would give the German giant a 
solicf position in the vast French in- 
ice market, a strategic goal that has 
fd Allianz amid its preparations for 
itroduction of a common European 
„.jncy in 1999. 

’To become a real European ^player, 
youtnusi be present in France,” which 
is tit world’s fourth-Iargest insurance 
mailer, said Georg Kanders. an industry 
analyst in Dusseldorf at Westdeutsche 
desbank. 

J approved by French authorities, the 
Ailpn? bid would bring a friendly end- 
ing |o a corporate drama in France, where 
hall’s Assicurazioni Generali SpA 
alr&dy had launched a hostile bid this 
veq- for AGF. Once virtually immune to 
hoiilc takeovers, French companies 
hay: seen three unsolicited bids in recent 
~ nhs. 

management board at AGr, 


maim 

pie 

wtych 


„ has resisted Generali’s offer, en- 
dowed the Allianz bid at a meeting late 
Monday, putting Allianz in the role of 
wiite knight. The takeover is expected 
tohccelerate a wave of consolidation m 
tht financial sector that has gathered 


force in the past year as Europe’s fi- 
nancial houses position themselves for a 
wider single market ushered in by the 
new European currency, die euro. 

Last year's merger of French insurers 
Axa SA and Union des Assurances de 
Paris created a new European giant that 
deposed Allianz from its top ranking on 
the Continent. 

Analysts say only a handful of firms 
in the future will dominate Europe’s 
lucrative insurance business. 

With the AGF transaction, Allianz in 
effect will acquire two respected French 
insurers, said Tim Dawson, an industry 
analyst in London at BZW Securities. 
AGF is itself in the process of a takeover 
bid for Worms & Cie., a French holding 
company that owns Athena, France’s 
12th biggest insurer. 

The aggressive acquisition would 
create a global insurancegroup with 1 1 0 
billion DM in annual premium income 
and 480 billion DM in assets under 
management, Allianz said. The merged 
company would outrank UAP/Axa in 
terms of premium income. 

Already a leader in European finance, 
Allianz may have more expansion plans 
in die future, analysts such as Mr. 
Kanders say. Allianz and Dresdner Bank 
AG, Germany’s second-largest bank, re- 
cently have disclosed their intention to 
merge their respective asset-management 
businesses into a single investment house 
with 550 billion DM under management, 
a sum that would outrank the cement 
German leader, Deutsche Bank AG. 

Many see the Allianz-Dresdner ven- 
ture as signal that die two may merge 


one day, creating a global financial co- 
lossus and snowballing the merger trend 
under way in die world’s financial ser- 
vices sector. 

Allianz has also pushed itself into a 
position to profit from the trend in 
France and Germany to offer private 
pension plans, a nascent industry that is 
expected to boom as government re- 
tirement schemes become increasingly 
difficult to finance, analysts said. 

Under the terms of the AGF agree- 
ment, Allianz will offer 320 French 
francs ($54) for each AGF share, a 7.5 
percent premium over AGF’s closing 
price Monday. On Tuesday, AGF was 
suspended from trading. The Allianz 
offer outstrips Generali's per-share 300 
franc offer. 

Allianz said its ultimate aim is to ac- 
quire 51 percent of AGF, which would 
cost 9 2 billion DM. it said 

The merger will create “a true and 
credible European alliance,” Allianz 
said. Until now, Allianz could only 
muster a I5th-place standing in France, 
despite years of expansion efforts. That 
falls far short of the company's strategic 
goal to rank among the top five insurers 
m key markets. 

“France has always been a problem 
area for Allianz,” Mr. Dawson said. 

AGF’s operations in Spain, Belgium 
and Latin America will fill other blank 
spots on the map of the Allianz global 
empire. “The operations of Allianz and 
AGF are highly complementary and join- 
ing them together gives Allianz an ex- 
cellent opportunity to realize a number of 
its mam strategic goals,” Allianz <a\d. 


CURRENCY & INTEREST RATES 



Binwb 
Awhfurt 
liitdoa (0) 
Madrid 

Won 


"oss Rates 

, . u F Jt Hi U U V. TH O *** 

* ,-L usu win* — WM* ua* «■»* 

S3 MB 4H2S trull — 2US5 MB 25.1* UM‘ 

*5? _ us«7 (ter an 4 M' taw use u» iu«* 

™ J92S? UK USU9 wc mm uaram mtvtm 

— J72? su w mi «u tow jtuarwiw — 

*5i — BUI OM UDUS 1U« UM n M 

— _ utl * urn UK* u« X* 1*0 ara i*e vu s 

Yor* ret — tmm us _ uo,- ism ua um urn- tns wo* 

fans lln 71M (Ml 151B »« — tUO USB 

•-aw* urn MB* !*»■ UM UJS* — M» 4 

wio “gj usr <un» um- — uw ™ 

'orich Jf«! “2 IJM t.«LB IBS 4 U 1»7 Ufl V 14 MB 1 ** HUB 

. ECU !ifl! nmn 2 JMI t£2 VBtfl ISO «ao V3ts mat wot ww? 

! TJlnv m Atnsfematn, London. M^PahsantS z*kb JUngs * *tm cento* New York at 4 
►Ml and Tomtit} totes at 3 PM- |flB . N 0 _. pqtqootmt HA--netavaUMn. 

. a To out one pom* *■ To aamUr 


Nov. is Libid-Libor Rates 


Nov. 18 


Dotto- Mtarti Franc Staffing Franc Ym ECU 

l^nonfll Sdit-SVm 3W-3M 1VW-1« 7V»- 3S4-3VS tt-K 4V»-4f» 

3- month 5V - Stt d-dVb 7Vi-7*» 3*W-3^ ft-* 4ft-4ft 

frniontti 5ta-5ta 3%-3ift rft-fft 4-*ft ft-ft 4ft -4ft 

1-yeor S>ft. S«ft 4ft- 4Vta »k-Kt 7»*-7W» 4-4V» ft-ft 4M-4W 

Sources: Reuters. Uevts &unK 

Rates appDcobie O bderaant deposits of SI mSton mtntmvm (orequtntienf). 


r Dollar Values 

PHi Cmtoect 

rss 55 « 

vm 8J«oa '"^i***' 

iww slick. 3^224 

k n 5J04S M aur-rm 


ftoLpei* 

NortUra* 
PMLptw 
PoWiizMy 
PeH. escudo 

Rt» ra* 
SoaeriPBl 

B4* 


tart 
8-225 
1JW7 
7JJ34 
33 JO 

Z51 

1M.18 

590X00 

3J5 

1509 


Cmmcr 
S. Mr. rand 
S.Knr.ma 
S«*d. krona 
Tntamn s 
Thai MU 
IMttta 
UAEdhtaB 
Vton-baM. 


P*ts 

aidtg 

101200 

7S377 

31.77 

3X70 

1885S5. 

1671 

soom 


Rates __ 

jMoy MHhrr w* ant9C * 

!« !iS \s asrr 


125 JO 12dd7 123.93 

\Mtp iMns uo 70 



Key Money Rates 

Udhaswti Oqm Pm 

DfcCNtatrato 5D0 SOI 

W»rata SW 

FndHWfltads 5ft 5H 

»a*arCOsdM«M 5JB 5.77 

IW-dny CP dnotarx 5LS8 5-58 

SmnetbTftanrrHB 5.16 512 

l-ftaB-TMtawrUI 5.19 516 

2^fner Treanry btt 568 557 

5year Ttaasanr nota SJB 578 

7-ycerTraawnrnnte 581 581 

ifi^narTraasarf mta 5M 584 

30 wa r Tfarary bend 607 507 

Mnfrifl Ljrndi 3S-dd)r RA 510 510 

iSS 

DtaantnA 030 QjO 

08 iBtataT IMS 537 

1-n»rik fafc riH mfc 047 CM 

34tana tatarunk 048 03 

6-mnlk tatnitaarii 050 050 

10-yetr 6«*l bead 1.92 1.90 


450 550 

045 545 

555 355 

389 3.80 

XSS 3.90 
557 559 


Britain 

Book bon rata 
OAtaMMy 
Innselh ioltrtask 
54 natb tata rt c iik 

WnanlbbrtatfeMk 
lO^ner GW 

££552 

tflftneflffnn rate 
Ctal money 
T-ftaWk Wntata 
3-«sertt Sterbffl* 
H nB HfiH BtaW» 
lfrynarOAT 


7Vt 2V4 
7*4 7% 

7ft 7ft 
7* 7W 

n* th 

665 662 


3-30 330 

3ft 3Vt 
3ft 3ft 
3ft 3* 
» M 
568 559- 


Sources: Reuters, Bloomberg, Mona 
Lynch. Bonk of Tokyo-MifiohiMhi. 
- —-.CmdBUmals. 


Gold 


535 PM. Clfgn 


Ctai money 
I-mn 
3-wontti tatirtinnk 


IB yrnfimta 


Zoricfi 30US 30435 +025 

Leodaa 30365 304.10 +035 

Now Yirfc 30430 30760 +090 

OS. doOgts per ounce. London otBdai 
fbdngs lunch and Mew York opening 
and aostng prices No* YOtk Coma ' 
IDccJ 

Saute: Heates. 


said, “Wbai today’s news really proves 
is that there are a lot of unexpected 
surprises in the pipeline.” 

At the very least, the arrangement 
seemed unlikely to lure back the many 
foreign investors who have abandoned 
Malaysia in the days since the gov- 
ernment of Mahathir bin Mohamad im- 
posed trading restrictions in August 

But tire deal appeared to be a victory 
for Halim Saad, the executive chairman 
of Renong and one of the wealthiest 
men in Malaysia. Analysts said Mr. 
Halim was in a position to sell, at a 
premium, a portion of his personal stake 
in Renong as part of the deal. 

Before being privatized several years 
ago, Renong was the main business 
vehicle of the United Malays National 
Organization, one of the main parties in 
the ruling National Front coalition. 

In the deal. United Engineers Malay- 
sia bought 32.6 percent of its largest 
shareholder, Renong, for 2.34 billion 
ringgit ($702.9 million). 

In its announcement on Monday, 
United Engineers said the sale had taken 
place on the open market But analysts 
said the deal — which involved 722.9 
million shares — was equivalent to four 
months of trading. 

“There are a lot of big questions on 
this deal,” said the bead of research at a 
Kuala-Lompur based securities bouse. If 
the purchase was indeed carried out on 
the open market, he said, then United 

See MALAYSIA, Page 19 


Korean Parliament 
Rejects Reform Plan 

By Don Kirk 

Special to the Herald Tribune 

SEOUL — The South Korean Par- 
liament rejected Tuesday most of a gov- 
ernment financial reform package in- 
tended to strengthen the ailing banking 
industry, as the nation slipped deeper 
into its financial crisis. 

The central bank suggested publicly, 
for die first time, that the country might 
be forced to turn to the International 
Monetary Fund for help. The Bank of 
Korea urged the Finance Ministry to 
consider an IMF bailout “as a last resort 
to overcome the currency problems." 

Meanwhile, the stock market fell and 
the won dipped to another record low 
against the dollar as the government 
straggled to resurrect the confidence of 
foreign investors in the economy and 
the currency. 

For the second straight day, currency 
trading was halted as the battered won 
continued its skid. The dollar rose to an 
all-time high of 1.012.80 won, com- 
pared with 1 ,000.0 Monday. 

The central bank briefly intervened 
by selling $250 million, but it failed to 
prop up the won. The bank withdrew 
from the market Monday, saying there 
was too much demand for dollars. 

After failing to push the reform mea- 


sures through Parliament, the govern- 
ment planned to announce a bailout plan 
Wednesday for South Korea's troubled 
banks. 

The government provided no details, 
but analysts expected the stabilization 
program to open the domestic bond 
market to foreign investment and to set 
terms under which scores of investment 
banks would either show they could pay 
their debts with an infusion of gov- 
ernment funding or go out of business. 
Many investment banks are now unable 
to obtain credit internationally. 

The Finance Ministry appeared to be 
in conflict with the Bank of Korea over 
how to get out of the crisis. 

Ministry officials again denied any 
notion of asking the IMF for help and 
insisted that the stabilization program to 
be announced Wednesday would help. 

‘ ‘We expect the stabilization package 
will alleviate the downward currency 
movement,” said Kwak Sang Yang, an 
official with the Finance Ministry’s cur- 
rency division. 

In Washington, a spokesman said 
Tuesday that the IMF was not negotiating 
with South Korea for a bailout package, 
Bloomberg News reported. 

The Finance Committee of the Na- 
tional Assembly passed just four parts 
of a 13-bill package late Tuesday. The 
most important was the financial de- 
posit protection act providing for a non- 
performing asset loan fund of 3 J trillion 
won (nearly $3-5 billion) to help protect 
financial institutions. 


Global Private Banking 


Truly exceptional service 


STARTS WITH CAREFUL LISTENING. 



Headquarter* of Republic 
National Bank of Now York 
fSufcwrl S-A. m (.tenant. 


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tkere are skort cuts. 

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meets tke needs of one and all. More or less. 

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mind as be looks after your interests. 

Bo year after year; you can count on us 
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personalized service that makes Republic truly 
unique. 



VWU Ih-oJijaiirlert o) 
Kopuklit National Honk of 
New York in New York. 



Republic National Bank of New York 

Strength. Security. Service. 

A Snfra Rnnli - Nc- YoA - ^ ’ Beirut • feraife H* ' hm Ai w - Cayman l.LnJa - Cop^lw*™ - Gilmaliar 

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* Krii.Ufc- UmL.-IX- v*c liMt 



PAGE 16 


EVTERNATXONAL HERALD TRIBUNE, WEDNESDAY NOVEMBER 19, 1997 





THE AMERICAS 


Investor’s America 


The Dow 


30-Year T-Bond Yiefd 



: lJ5n 


1997 


1997 

.'*fc "vftdl... „ 




3S£ aft££ 

Sf* 






•ji‘t 


«s&9o,. : 






^ - vpioae' •• 


Source: Btoomberg, Reuters 


I nwmw nl HenM Trftmng 


Very briefly: 


• Walt Disney Co.’s earnings rose 1 8 percent in tfae quarter to 
Sept. 30, to $41 1 million, as improved results from broad- 
casting and theme parks helped Lift revenue 5 percent, to $5.52 
billion. 

• Campbell Soup Co.’s first-quarter net profit rose to $267 
million from $248 million a year ago, driven by strong sales of 
soups, Pepperidge Farm crackers and other products. Sales 
rose 3 percent to $2.12 billion. 

• Phelps Dodge Corp. agreed to sell most of its Accuride 
Corp. wheel and rim-making unit to Acc unde’s management 
and an affiliate of Kohlberg Kravis Roberts & Co. for $480 
million, as it seeks to focus on its mining, wire and cable and 
specialty chemicals businesses. 

• The California Public Employees ' 1 Retirement System, 
which has assets of $127 billion, said it would resume doing 
business with Nomura Securities Co, eight months after the 
largest public pension fund in the United States suspended 
trading following a scandal at the Japanese brokerage. 

• Entergy Inc. said a Louisiana judge threw out a $464 
million judgment against it, saying jurors reached the wrong 
conclusion about a technology agrcementA/* Reuters. Bloomberg 

Mexican Economy Grows 8.1% 

Bloomberg News 

MEXICO CITY — Mexico’s economy grew 8.1 percent in 
the third quarter, the government said Tuesday, as an 18- 
month economic expansion extended to the service industry. 

The data eased doubts about the strength of the Mexican 
economy, which has grown now for six straight quartern. 

“Domestic consumption is back after two years of hi- 
bernation,'’ said Edgar Amador, an economist at Stone & 
McCarthy. 

Finance Minister Guillermo Ortiz predicted (hat private 
consumption would grow at least 5 percent for the year. 

~ AMEX 


Bundesbank 
Muddles Path 
Of the Dollar 

Bloomberg News 

NEW YORK — The dollar was 
little changed against the Deutsche 
marie Tuesday as Bundesbank of- 
ficials gave conflicting signals on 
whether German interest rates are 
headed higher. 

. Helmut Hesse, a Bundesbank 
council member, said he was con- 
cerned about inflation and said Euro- 
pean interest rates may be higher by 
mid- 1998. That renewed talk the 

FOREIGN EXCHANGE 

central bank may soon raise Ger- 
many’s benchmark securities repur- 
chase rate. Hours later, council mem- 
ber Hans-Juergen Koebnick said 
there was no reason to raise rates. 

“Every week you’ve got 
someone talking out of both sides of 
the mouth,” said Vicki Schmelzer 
Alicea, a corporate currency trader 
at Westdeutscfae Landesbank 
Girozentrale. “There’s a real 
chance of a repo hike going into the 
first quarter of next year. On the 
other hand, if they’re looking at re- 
cord-high unemployment, do yon 
really want to be tightening.” 

The dollar was at 1 .7290 DM at 4 
P.M. in New York, down from 
1 .73 14 DM Monday. Against other 
European currencies, the dollar was 
at 1.4053 Swiss francs, down from 
1 .4085 francs, and at 5.7922 French 
francs, down from 5.7985. 

The pound was at $1.6910, down 
from $1.6947. 

The dollar lost ground against the 
mark in early trading after Mr. Hesse 
said “prices in Germany could 
move in the wrong direction next 
year” *» vt that the central hank has 
to fight inflation * ‘prematurely.’ ’ He 
also suggested that European short- 
term lending rates may be. higher in 
the months leading up to the eco- 
nomic and monetary irairm 

Bur the U.S. currency later pared 
losses after Mr. Koebnick said coun- 

shouldljewll^ to tolerate" lower 
rates. He also said he saw little 
danger of inflati on worldwide. 

The dollar was higher at 126.135 
yen from 125.60 yen despite con- 
cern that Japanese authorities mi g ht 
sell dollars. 

Finance Minister Hiroshi Mitsu- 
™ka of Japan said he was worried 
about the yen’s excessive weakness, 
reiterating remarks other Japanese 
and U.S. officials made Monday. 

The dollar received a boost 
against the yen as traders dismissed 
a Japanese government plan to stim- 
ulate the economy as lackluster. 


Big Recomputation of Sales on Net 


By Mitchell Martin 

iHtenuaumal HrmU Trib rmt 

LAS VEGAS — imeroex com- 
merce could grow to the SI tril- 
lion-a-year range shortly after the 
mm of the century, die chief ex- 
ecutive of Cisco Systems Inc. said 
Tuesday, calling industry fore- 
casts of electronic business 
volume far too low. 

John Chambers, whose com- 
pany makes about 80 percent of the 
routers that move packets of in- 
formation around rite Internet, said 
that Cisco alone was selling S3 .2 
billion a year wrath of its products 
electronically, about 39 percent of 
total orders. Such performance has 


raised consensus estimates of an- 
nual on-line sales to about $25 
billkn from S5 billion, he said. 

Mr. Chambers, addressing die 
Comdex fall co mpu te r trade show 
here, said analysts had been pro- 
jecting between $20 billion and 
$300 bUUan a year in Internet com-, 
men* by 2001. estimates he said 
might be short by a factor of five. 

Internet commerce is mainly 
businessHGo^iusiness, 1* said, 
which is one reason it is not highly 
visible. He predicted dial growth 
in retail sales would follow. 

Likening the Internet expansion 
to the Industrial Revolution, Mr. 
Chambers said that there were pro- 
found changes in store fra compa- 


nies. which would find what they 
bad considered advantages to no 
longer be assets. 

Consider toy xetaikn. Many 
parents, he said, dread the Ez»s and 
noisy atmosphere atbig toy sores, 
and are often ttisappoinnd when 
popular hems d cw a mrlyt by their 
children are soM out 

On-line ordering, be said, will 
allow shogpera ® skip the trip and 
have gifts wrapped and 
u> reameats all over the worid. 

For retailers of *B kinds* that 
view impBes that having many 
stares sad large inventory would 
no longer provide an edpe over one 
centrally located facility with an 

effitiratonkringi 


$16 Billion * 
Combination 

PHILADELPHIA — First Utuoa 
Crap, offered Tuesday » bm 
ConStetMFhteattAl Crap, for mo* - 
than $16 btftion in what would t* 
the highest price ever paid w» U.S, 
bank, three people faadfarfrjfa ti* 
situation and - - - - 7 

The offer, which. CoreStww ft- - 
uancial's bond is cotaidciiM, vjfl-. ' ; 
urn Constant at more thatSWF* 

share, h comes at a time wbeu banks 
i«buyir« each othra ax a record race ~ 

wh^lin profits ami cut ctvas Two 
of the people said First Union might 


- f.n.rou 1 


j. 

■‘.L. 

■ +ir 

. .. 

i? pJMW* 

' 

jjaB* 


Stocks Take a Rest After the Rally 


NEW YORK— Stocks fell Tues- 
day, pausing after a three-session 
romp that put most indexes at their 
highest levels since the market’s 
steep downturn in laic October. 

‘ ‘There’s no particular news. The 
market is just trading off tfae ran it 
had yesterday,” said Paul Hennes- 
sey, head of equities trading at Bos- 
ton Partners Asset Management LP. 
The run-up the past three days was 
“a little bit too quick. This is not a 
bad thing to have happen.” 

The Dow Jones maos trial average 
closed down 47.40 points at 
7,650.82, while the Standard. & 
Poor’s 500 index ended down 7.97 at 
938.23. Losing issues outnumbered 
gaining ones by an 8-to-5 ratio cm the 
New York Stock Exchange. 

The Dow, which added about 300 
points over die three preceding ses- 


sions, was cushioned by a sharp gain 
from AT&T, which rose to a record 
high on optimism that the company 
will move quickly to cut costs and 
increase earnings. 

Analysts were positive on the 
stock after meeting with the com- 
pany’s chief executive, C. 'Michael 

ILS. STOCKS 

Armstrong. AT&T was the most ac- 
tively traded issue cm the Big Board, 
closing up 4 at 51%. 



_ would not be as strong 
because of weak sales to 


% 


down by lingering concern that : 
mg Asian economies will cut U.S. 
‘corporate pro fi ts. Avon Products 
dropped 5 3/1 6 to 57 5/16 after warn- 
ing of lower overseas earnings. 

Adobe Systems lost 6 % to 42Vt 
after the software maker told in- 
vestors that fourth-quarter revenue 


and* 
as< 

distril 

Intel fell 1 1 1/16 to 7W despite a 
buy reco mm endation from an ana- 
lyst at ABN AMRO Chicago Coqx 
In tfae Treasury bond marke t, 
yields hovered at 21-mouth lows 
after a government report showed 
consumer prices rose just (12 per- 
cent in October, reinrareing expec- 
tations fra subdued inflation. 

For the first 10 months of the year, 
prices rose at a 1.8 percent annual 
rate, the slowest in a decade. 

But a separate report cm business 
inventories came in a bit stronger 
than expected, which held back the 
market The price of the benchmark 
30-year braid finished down 2/32 
point at 100 24/32, tearing the yield 
steady at 6.07 percent 

(AP, Bloomberg ) 


Smith Barney Settles Harassment Lawsuit 


CempSrdbf Omr Staff From Dapoeta 

. NEW YORK — Smith Barney 
Inc. said Tuesday it had settled a 
class-action lawsuit that accused the 
firm of denying women promotions 
and doing nothing while brokers 
harassed women colleagues. 

The para does not set aside money 
to pay women who complained of 
mistreatment including allegations 
of lewd advances in a brokerage 
branch office. But Smith Barney 
said it calls for the firm to spend $15 
million over four years to promote 
diversity within the brokerage and 
the industry. 

The pact also will set job-training 
goals fra women and create a new 


system fra resolving discrimination 
complaints. Under the settlement, 
women employees would take their 
claims to an independent arbitrator 
outside foe securities industry. 

Such a move is a radical departure 
fra Wall Street Finns have typically 
fought hard to have all disputes — 
whether with clients or employees 
— settled by industry arbitrators. 

According to the proposed set- 
tlement, Smith Barney said women 
would make op no less than 33 per- 
cent of those in its broker training 
programs and no less titan 25 per- 
cent of those in training for its cap- 
ital markets division and investment 
banking operation. It also said it 


would increase the percentage of 
women managers in its system. 

The suit contended that S m i th 
Barney's male brokers had 
1 women to abuse 
1 sexual advances. 

, the suit aad a rotated 
1 in California said, were 
or in- 
1 manner in 


pay $85 a share fra CratState*. 

jFtat Utikm. the sixUi-T«wtfUjL 
hint with assets of $144 bil iiri . hti 
been e x p a ndin g through Acquisi- 
tions. Buying Cores tare* would 
help '*fiU out their franchirot in 
New Jersey and Philadelphia.^ bad 
Moshe Groshttctu * haw siwiystai 
SAnfortC. Bernstein & Co. -- 
Both tanks declined to rartiw 
Stares of ConStatot rose 
$79 Tuesday. First Union foil 
$2.1875, to $50.25. Trading tfrtafa 
stocks was halted pending here* 
OoroStates, which had assets of 
$47.6 bUHon at the end of the 
qu art er . and has offices m , 
Pennsylvania. Delaware and New 
Jersey, last month rebuffed a 
takeover offer from Mellon Bank 
Corp. for about $88 a share. 

Analysts said an offer of about 
$85 a stare was fair. 

**U doesn't sound like a bed ft," j 
said James Schmidt, a portfolio ^ 
manager at John Hancock Advisco. 
“Fast Union’s aheady up there wA 
First Fidelity, and 85 sounds rea- 
sonably fair. 

First Union, ted by .Edwad 
Crutchfield Jr., its chairman tad 
chief executive, has been snipputy. 

3 > tanks in foe past few years- First 
nion entered New Jersey in Jura-; , 
axy 1996, when it bought First Ft. 
detity Bancorp for $5.9 billion. . : 
Shareholders of Signet B 


- ; aaa:»- 

. TP w*. 

«*•»* 

. « w 

. 4 * '*** 

i-i * 1 W 
. . , 


m .jlK-na t‘» 


. •■>* a 


. .. n„bvb - 

<k*a 



ro 
and 
C 

lawsuit 
either ignored by 
vestigaredina 



.. • V 


which the identities of tiie women 
were disclosed prematurely, expos- 
ing them to retaliation. In one in- 
stance, at a Smith Barney branch on 
Long Island, women were allegedly 
groped by male colleagues in what 
was known as the boom-boom 
room. (NYT, Bloomberg. AP) 


.. fuel 

for the machine," said Harold 
Scfaroeder, a tanking analyst at 
Keefe, Bruyette & Woods Inc. "If 
yon can consistently push more cus- 
tomers through the machine, over' 
foe long term, they'll be a mare 
profitable company." 

Mr. Crutchfield suggested to ana- 
lysts test week that he was consid- 
ering & record-setting acquisition. 

n Fust Union’s bid succeeds, it 
would top NationsBank’s offer of 
$14.6 billion for Barnett Banks Inc. 


m 

Ur 


■'■A 


U. S. STOCK MARKET DIARY 


INTERNATIONAL FUTURES 


Tuesday's 4 P.M. Close 

The 300 most traded stocks of tte day, 
up Id the dosing on Wafi Street 
Thu AssoaalBd Pibbs. 


Sock 

ten 

HW la* 

used 

Oge 

AMC 

DO 

23ft 22ft 

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16ft 

151ft 

161k 

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TM 

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16k 

161ft 

161k 

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27ft 

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MS 

17H 

16ft 

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7k 

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1618 

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sohi nw um utm age indexes 


w 

RMimrii 

Man Pel 
ManPtrn 


MbRH 

MUBnMi 

MLTTVM 


VH W 1 
» TV. 
n 3)h 
nw 7v* 
Vi Ik 

u* im 

TV* » 
3* TVs 
20k 2M 
20Vi TO 
ttk 4Vk 
32k »V 
31k 291, 

Tin nr* 

J m 

3 m 

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n m 
x* m 
n «k 
M Jv, 
4H 49* 
Uk 14M 
5k 5 
Ilk Ilk 
4m m 
W» 14 
4Hk 424k 
ih m 
H Vk 
9 n 


Dow Jones 

OPSB Milk LOW urn a*. 
kMH 77UL42 772U1 7&OT1 M9U2 -47 ^0 
315114 315422 3109J3 3llflJ0 -3177 
250.11 25059 TOM 24153 .750 

251171 251245 24KIB 241771 -2ELB4 

fl 

- Standard & Poors 

T odor 

» M# lew Omm 4PJ4. 

i* Industrials 1110521087.15110551 10MJ7 


yn 

- caiv 


Tninsp. 
UtSfies 
Finance 
SP 500 
SP100 

NYSE 


Nasdaq 

eli 

-U Campode 
-4k MMfeloil 


«7 JB 660.17 66X81 659.11 
71240 20830 21235 211.16 
HUB 10B35 11140 1104S 
9VM 92835 94620 93223 
90 9S7 88841 90601 898.90 


«* ** m is 


MW Law 1M 
1616.14 UBU46 110046 
1266.10 124611 
191839 192601 


Mast Actives 


VkL Mfk 
112271 5m 
US3J fi7Vi 
11424 20*1 
54613 57*i 
52701 10l>« 

52314 61V, 

50773 IN 
38075 W*k 
37734 2W» 

37513 <3W 
33673 19k 
33714 m* 

3725 3 7ff4k 

ssr tb 



4914 52tt 
65U AHk 

ir»» WH 

55Vi 57V, 
VSk w 
MPk AKl 
IBUs IV, 
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24*5. 241s 
6 i*« Am 
1V6 19*! 


*3Jk 

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-iik 

M 

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1087 77 10541 108003 



No* 18, 1997 

Man lm umt Q>9» Opw 

Gafina 

CORHICB OO 

SkCXJDteBrinffaonhCMtfi por ixtshd 
Dec 97 27M Z7SM 2 TUI -1 130813 

Mar 91 28711 2»S 316 -VI 1293154 

May 91 293 tt m* 29216 -46 344M 

JalSS 29714 294*5 2954, -4* 46276 

Sip 98 2SBH 28*46 287 -I 4541 

Dec 98 288 *S4l 286 Ji TWO 

JM 99 298V5 29716 298*5 •» 254 

Ed. KriM 60000 Mans Kfts 7UB3 
Mens open bU 374338 op 71 

SOYBEAN MEAUCBOT) 

MO tens- datan per Hn 
DK 97 23130 22940 23140 +M0 3U22 
Jon 98 22870 22U» 227 JO +090 28019 
MarfS 224J0 22170 22190 +840 25,125 
May9S 22100 219JD0 22040 MdL I7J28 
JulVB 27150 ZI9J0 221.00 +070 11644 
AaglB 271 JO 22000 22830 +030 1986 
E*t sales 24000 Mam Hits 29460 
Mom open U 124J7X afl LKM 


Hgh Law L6M Cfega OpW 

ounce juKxofcrm 

15000 Rm.- CMC, par Rl 

Jan 98 MJO 8 475 SA6S -80S 24008 

Morn 89.15 87 JO 8770 and, 11477 

May 98 91.90 9850 9890 +815 1354 

JM9B 9175 9875 9190 +840 U3Q 

EH SOU NJLMaat UIM&428 

Mom open M43J83. op 643 


GOLD (KMX) 


Metals 


& 


AMEX 


4H 

I 

o 

F 




Nw*7 

8740 

8SL5D 

8X10 

-3.90 

aaooo Rn> cams per a 




Dec 97 

89 JO 

8X10 

8X95 

-120 

-15. 

Dae 97 

26^0 

2595 

2S96 

4U3 

3X980 

to 98 

8X00 

1X00 

8X35 

-aio 

**a 

Jan 98 

26-50 

2408 

2X09 

■039 

3X235 

FMrM 

8300 

8X30 

8X50 


-ft 

Mar 98 

24-63 

2620 

2X23 

■OJI 

25,181 



urn 



•Wl 

+1* 

ton 

taira 

2640 

2X18 

26JS 

-033 

1X007 

tore 

8X50 

8X75 

8X73 

-X75 



2X28 

4130 

10323 

May 98 

9000 


87 JO 



Aug 98 


2595 

2X00 

-021 

W11 

tan 98 

89 SO 

87 JO 

B7JD 

■2J5 


EM. sate 25000 Mom sate 27429 


Jut 98 

89J10 

87 JO 

87 JO 

-185 


679 JO <7047 671-21 

Dow Jones Bond 


20 Bonds 
lOUBHttas 
10 Indottriait 


10152 

10117 

106J8 


-807 

-811 

-803 


33667 9S6*i 93%* 94 

27067 30M » mb 

2SM5 2VJ 2»k T+ 

25437 1M, 11, 

11*36 IVe Ifk Hi 

3t*5 380k 

Ik Ik 

im iiW 


12265 421, 

ttffl 

ins an 


j* 


-3V* 


Trading Acltvtty 

NYSE 

□SaiSi 1 

Hscr . 

AMEX 



vsiwts 

Market Sales 


1676 301 

2009 1572 

^ ss 

S ’» 


Memapwi M 128638 up IJM6 

SOYBEANS KBOT) 

5000 iw aMfflUB- ceafs por tMaM 
tor 97 737 722 726 -744 UR 

Jan 98 731 718U 720 -Ok 67,883 

Mar 98 731 722 723 S+ 27441 

May98 735 726 7271* -4ft 2000 

M98 735 728H 729 416 28735 

Est safes 50000 Mam 64.290 
Mom apmW 147^51. off U03 

WHEAT (CBOT1 

SHOO ba nMm> coals per bushel 
Dec 77 348 343U 34SU +16 3X709 

MOT 98 363 3534* 360ft -* 38550 

MOV98 3711* 8*8 36BH -16 7J56 

-M9B 376 373ft 374K undL 16815 

EsL safes 18000 Mam salts 31^717 
Mam open M 108832. off 136 


100 tier daUars per Irw «. 
to 97 307.00 +190 2 

Dec 97 30800 30390 30740 +190 97403 
J«9fl 30810 +190 6 

Fob 91 309-50 30510 30810 +100 4X986 
Apr 98 31100 30500 31890 +800 8405 

Jan 98 31340 31000 31X00 +100 1140 
' 98 315.10 +180 4,951 

98 317J0 31440 31 7 JO +100 1499 

Dec 98 32820 31700 31940 +XOO 11460 
EsL iota 41000 Mam sate 30364 
MM apon M 219498 op 40 

HI 6BAOE COPPER OKMTO 

1447 
28315 

Mil 
1462 
1X651 
1J09 
3951 
U *1 
1790 

Est. sto 28ooa Mom sate &3T5 
Mam open lid 67428 up 1 2* 

SILVER OKMX7 
5400 tnqr e8> eoids per tray az. 
to 97 51040 moo 50940 -140 2 

Dec 97 51340 50640 51040 -140 44444 

Jan IPS 51340 51230 512J0 -140 27 

Mar9t 51850 51240 5T64Q -1-70 37428 

Mae 93 5T940 51640 51860 

JefVi . 52240 51940 53040 


-1J0 

-IJO 


2J»7 

06 

1 


52825 

3236 

51X29 


69744 

4554 

65248 


5 » 


Dividends 

Conpaqr 


Pot And Itec Pay Company 


Par And Rec Pay 


3 


IRREGULAR 

Bancroft Conv .1756 12-1 12-30 

Cross Timber R»y _ .1113 11-28 1M2 

Eni«yOfnco _ J0 12-10 12-19 

Purina In Basin .JX}7911^8 12-12 

SonJuanBosh . J086Z 11-28 12-12 

STOCK SPLIT 

Geni 

Horizon 1 

Nutmeg I 

Peoples Holdings tor 2 spin. 


YEAREHD 


Gen Emptoyraent . JS 12-15 M 6 


iMacmapk7tc2forl spDL 
iron Phann 3 fbr 2 spHL 
megMMEor&iL 


_ iTKeMe 


Itenenl 


Aibor Drags 
COoper Tim 
Gcdmoolnc 
HaacnCorp 
Lancaster Cotony 
United GuonSao 


INCREASED 

O 49 12-23 1-6 

0 495 11*28 12-23 
Q 4175 12-31 1-15 
Q 42 1-15 2-13 
Q 3M 12-10 12-31 
. 46 12-12 1-5 


Am i nil Grp 
BenoinPrap 
OGNAHWiko 
C ascade Corp 
Dames Moore 
Fst United Bnc 
Global HI ImDDr 
GreeaAP. 
G oni m d eeLf 
HoncodtPaiPrll 
lrrtmote Brands 
Lbnitodlne 
SY Bancorp 


Utt 1 » 
H » 


SBam PremTot B 
5 Bam PrcmTafC 


REGULAR 

0 .075 M 3-20 
0 40 12-10 12-19 
M 4675 11-28 12-10 
Q .10 11-24 12-5 
43 12-22 1-5 

40 12-9 12-30 
.10611-26 11-28 
4411.28 12-12 
47 11-28 12-15 
475 11-24 12-15 
.13 12-S 12-16 
.12 12-5 12-16 
.12 12-17 1-2 
. 465 12-16 12-30 
C .1074 11*24 11-28 
C .1011-24 11-28 
C .1008 1T*24 11-28 


REDUCED 


Damm Inca 
Eaton Vai Muni 


S .12511-28 12-5 
M 4485 12-1 12-15 


INITIAL 

Prime Resommg _ 44 12-5 12-19 


ejlflWWe on class A 1 and C renedMv 
Trans Hnd Q .17 TW 12-15 

Tnmwnerlnw M .1611-28 12-15 

YPF5ocAneriora b 22 11-26 11-28 

tebw wfcbHOWrasfanQltaoiBwalper 

stem/ADRj g-poygplo in COWten ftttdV 

in-rao«flMy;q goa t erl B s nmHwnnn r. 


PS 




I7H 

lift 

12tk 

Mft 

16ft 

16* 

H'k 

lift 

135k 

m 

8ft 

Eft 

7ft 

M 

7 

9»1 

9V, 

m 

IPk 

IS 

is*k 

165k 

10k 

ink 

11 

16ft 

Hft 

lift 

lift 

18ft 

im 

lift 

»*• 

*ft 

7ft 

* 

7ft 

ja 

Uft 

Utk 

16ft 

tk 

ft 

N 


Stock Tables Expkxmed 

Sales am imoffidaL Yfearty highs and lows reMUm previous 32 weeks ptos me current 
weak. tetii^TIhiUnalluUlnfl day. WtMtfeaspB or rfotAdMefendnmounllnQ lo 23 percent or more 
httbem paid, the yum range and (MdendaeSimm far now soda only. Unless 

othenobe noted rates of dridendsm annual dbbwements based an ttie latest (Ndaiafiai. 

o ■ dIvW«K) oho extra (s). b - annual rate of dividend ph« stock dwWmd. c - Ikrutdafirw 
eMdamt cc- PE exeonds99.cld - coiled, i- oew ywrty low. « - lass In the last 12 memfta. 
• - OMdend doctored or paid hi preceding 12 months, f - annual rate, increased m last 
dedarelion. 9 - dMdend in Conation ftiRdx subject to 15% noiwesioencs fax. t - dividend 

P* " * *«dend declared or poid this yteb an 

ocannulaltve tewsli dMrtends hi arrears, m - annuel rote, reduced an hnt detteraiten. 

" ■ "»• start of trading, 

ad - iretf pay aeflwry. p - adnal avlaend, annual rate unknown. P/E - price-eaminas rotto. 
q-Ctosed-«dmuttelfvmd.r-diVWetidd«JOrtdorpaMlnpii(cetftjni 2 manms. plus start 

dhrfdend. 1 - stack spB. Dlstaond teglns with date of splft. m*ate8 ^l^dKSto 

Of m-dtatrihuttaSdflte. 

u * " 0| ~ "■ ™ ormceivenliiporbeinflreanrai&ed 

underltie Bankruiricy Actor seontffesassunHd by such car?Bionie 8 Wd-vhaidisli 1 bi]ted. 

«l - when Is sued/ m - Tm^naxatt^x. ex-d^end etef SKSSS 
m ■ wfthoutwamina Mre-dhridead and sales In full, fid- yWdx-sato 


Livestock 

CATTLE CCMER) . 

4VOOO ■slants per Bl 
pse97 67J7 6743 6747 -031 

Ftb98 6887 6835 6850 -025 

Apr 98 7235 7147 71W -012 

JunW rajO 7005 7DJ0 -012 

Ain 98 1052 7027 7040 4.10 

Oef» 7140 7117 7235 +045 

EsL sate 14*49 Mote rete 11647 
Mare open H IVI J54. up 547 

FEEDER CATTLE CCMEW 
5QJ)00 Rxsl* caolf Dcrtb. 

No* 97 76J5 ^U45 7630 -OQ5 

-1*98 7945 7V JS 79J5 -032 

Mar 98 7940 7940 79JO -037 

Apr 98 8040 7940 79JO 4L40 

May 98 8040 8010 8042 -027 

Aug98 8145 8240 8240 -023 

EsL sate X161 Mom iate3428 
Mom opmM 17,138 up 454 

HOGS-Loaa (CMES) 

AUxn arts par fc. 

Dk97 025 6235 0.12 +052 

F6b9B 6295 6215 42*3 +042 

Apr 98 5940 5852 59.12 +040 

Jmn 6627 6SJD 6815 +025 

■tel 98 6520 6460 6480 .+007 

EM sate 8651 Mom &650 
Mom open m 39247. off 487 

PORK BELLIES (EMElD 
48400 fcs^cMb per fe. 

Fib 98 6878 5940 6057 +U2 

Mar 98 S9SS S9M 5927 +050 

Moy« 6030 59.10 5927 +077 

EsL sdte 1498 Mom scries 2800 
Man open M 8514 up 373 


Food 

QOCDAOK3G 

lODieWetaRs-Spn-lon' 

Dee 97 1584 1553 1563 

Mu-9* 1615 1587 1590 

May 98 1642 1618 1619 

JM98 T661 1641 1641 

Sap 98 1683 1663 1661 

Dec 98 1700 1600 1680 

EsL sate 12287 Mom sMas 8281 
Mom open W 98984. op HM 


E*t sate 24400 Mom ate 28700 
Mars span M 98371 up 2546 

PLATINUM (NMER) 
nirayeL* dotes par travel. 

J* 98 39240 3BSJ0 39200 +720 10709 
Aprff 38940 38440 30940 +720 1^37 

4498 38640 +720 94 

EsL sate (LA. Mom sate 773 
Mem opan ln« 12440 ap 141 


LONDON METALS (LME) 
CMknparratMcton 


Pravtow 



(HMiGreM 
•1603ft 


1606ft 163800 163740 

- .163640-163740 166440 164540 
CaOnto (High Creda) 

1879ft 1900ft 194540 194640 

190640 190748 197140 197240 


550ft 

56800 


603040 MMP.ffll 
613540 613040 


558040 

536040 556540 


56200 

57740 


56440 

57040 


Sac Qpadol Htak 6Mi) 
Spot 1135ft 1136ft 
Rnmud 116340 116440 


613540 614540 
622540 623040 


563540 564540 
561540 562040 


113940 114040 
116640 116740 


Mgfr Low UM Ogt OpM 

tff-YCAR PROTOI SOV. KHOM (MAT1F) 

FROMM -efeanflO act 

Dae 97 tu 99JO 9*24 + 048 MUM 

MorfB 9092 9070 907V +046 H-4Z7 

Am 18 9824 90» 9023 +016 12 

EsLutaK 108168 

Open tab 118131 up 4295. 

ITALIAN GOVERNMENT BOND OiPPBJ 
m. 200 aNon ■ pH ollOO pet 
Dee 97 U2AS 11226 11240 +013)10276 
Mar 98 11290 11210 11273 +U1 8978 
EsL sate: SUE. Pm sate 32448 
Pnv.apanbO: 123254 oN U37 

LIBOR 1-6*0 NTH ICMHQ 
S3 nMon- pMollOD pd. 

D#C 97 $447 9444 9445 each. 21290 

tan 98 9427 9426 9427 TOOL 64« 

FM>98 9425 9424 9425 SOCtV 2450 

Est stes NA, Mom ante 8990 
Mam open M SUM up UOS 

EURODOLLARS (CMEK) 

» B«Bo-pi*iinoopct 
Dac97 9815 9413 9414 ooch 48X903 

Fab 98 9418 9416 9417 +041 1 

Mar9l 9418 9415 9416 inch. 442755 

tan 98 9413 9409 9410 -041 3*0*29 

Sap SB 9447 9443 940* -041 368814 

Dac98 9359 9194 9359 -041 214334 

Mot 99 93.98 9394 9395 -041 160027 

tan 99 9X94 9340 9191 -041 137499 

Sap 99 9X10 *346 9348 inch. WX500 

DeeW 9204 9340 9342 onch. 89.183 

Mar 00 9XSS 9341 9X43 each. 7X4*9 

"tan 00 9343 9329 9341 uocfc 5X654 

Est. sate NA. Mom aalas 31X216 
Momopan M 242M82 off 17443 

BRITISH POUND KMER) 

62 J 00 powjds. ■ par pound 

D*C*7 14970 3.M72 14896-04050 58837 

Morn uas4 i4ioo 14 * 24-04050 as* 

tan 91 14746 -040J0 7* 

EM. sate NA Man sate 8053 

Mom opsn lot 5M0X up 511 

CANADIAN DOLLAR KMER) 

100400 donas, s par Cdn. dff 
0*W -700 2DM 2084+04022 68923 

tore -2 20 Jms J»«+Q40D 5430 

tan* 2144 2132 2142+04822 886 

Eri. sate NA Mom sate 8679 
Mom span kd 7X418 off 138 

6ERMAMMARK (CMBIQ 
128000 awrta. S par mte 

2S.S -SU -SH SS+OJOOOS 70788 

to* J837 -5*13 JB24+04005 3294 

tan 98 JBSB 4851 4850+04006 

g^aote NA Iftom ante 18411 
Mam open H 74*52. op 1 72 

WNeCMBRl 

STWSSiranwB 

-S2 4W £iSi, 'vS 
J«l98 4205 JMO 420544013 390 

EAsate NA 66am sate 27,923 
Momopan ln| 138181, off 2335 

SWISS FRANC CCMER} 

mmpfwncbApartenc 

g*2 ™ TU4+0JJ017 69429 

MW* .7231 2116 2710+0.0057 2451 

tad 9* .7375+0.0017 282 

Est. sote NA Mom sate 12472 

Mom opanM 0873. ail 1,170 


C3» XUM 
021 383*8 
00T1L711 

Og IMI 


2461 


HHfll LOW Owe Cbga OpM MEXICAN PESO (CMIRI 


15003 

13460 

5424 

nos. 

U06 


8606 

U79 

433 


■041 8022 


219435 


-1* 1,151 
-23 48567 
-24 17,373 
-26 AOBO 
-3* 840* 

■2* 9493 


CDFFEECtNCSS 
37,500 B4* etel par ft. 

Dec 97 14850 15740 U4.9S +865 2421 
to9t 15740 14725 15645 +320 11213 
May* 15125 14540 1SI2S *125 1513 
Jul 98 1*90 UUO 145.90 +240 1873 

58PW 14145 13800 141.95 +L95 1477 
EsL rate 9468 Mom Mbs 9231 
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i Turnaround Artist Turned Out 

111 ^ herson ls Dimmed as Head of Troubled Laura Ashley 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY; NOVEMBER 19, 1997 

EUROPE 


Hall 


- * : ; ! 


^yall pence ($2.81) it was trading at in director of design and baying, who 

. — — ws Service January. In September, the company was brought in in January. 

LONDON — Ann Iverson, the a ^ rst "" a ^* r Jos s of $7-6 mil- Several other top executives have 

American turnaround “ on * a * amatic downturn from a left Laura Ashley amid rumors of 

brought in two and a half vea™ aoa ye ^f- earIjer ’ whcn « showed a $ 8.8 clashes with the strong-willed Ms. 
.to breathe new life feto UwTa J, Sr » lt a PP eared Iverson, and the company's adver- 

leyUd.. was fired as chief execwiv^ i v 5^? n ’ s {eaderehi P ^ P 01 ^mg program, led by the slogan 
Tuesday after a turbulent tin £ lW 9 r 011 ? e "S * 11 track - “ Sa y h wirfaout flowers,” failed to 
include boardmnm Stephen Cox, the company s sec- convince enough American shoppers 


LONDON — Ann Iverson, the 
American turnaround socialist 


was trading at in director of design and buying, who 
nber, the company was brought in in January. 

F loss of $7.6 mil- Several other top executives have 
downturn from a left Laura Ashley amid minors of 


failed to 


Included boardroom infiShr- ite phen Cox, the company’s sec- convince enough American shoppers 
heavy financial losses and rtJwS * e decision to replace to return to Lanza Ashley’s stores. 

c«ipjnwn of w .uiciorcea Ms. Iverson was “a board decision. Stores comnlained that thev were 



scale-down of her evrwncioT i Iverson was “a board decision. Stores complained that they were 

She is being renlaS^ V ^ nd - ■!* was involved in the board saddled with unwanted stock while 

ooerarine officer TWin iSf cmel ™ sion -'’ Another employee, who the goods customers did want were 

manag ement ™~o..r. 5* oare - 3 asked not to be identified, put it not being replaced quickly enough. 

j- tant and venture more blnntJv “Rasiraiiu chp hat Tn a iiaiTcf tTv» mmnanv cairt that 


capitalist hired in October to straight- 
en out Laura Ashley’s finances/^ 
The departure of Ms. Iverson is 
the most serious sign that Laura 
Ashley, whose genteel frills and 
floral prims symbolized a am f t\F 


more bluntly: * ’Basically, she has 
been replaced, so you can read into 
that that she was removed.” 

James Walsh, the financial di- 


in August, the company said that 
it was selling two factories in Wales, 
cutting 149 jobs, and that it was 
halting its expansion plans in North 


rector, also is leaving. In recent America. Pressure for Ms. Iverson 


months, it became clear that Ms. 


Err9aa wayof 

*** 1970s, is strug- sion in Britain and North America 
1 fl “ was not reaping the benefits she bad 


to resign began to build. Declaring, 
“1 have the full support of the 
board,” she stood firm, saying that 


’ marketplace of the 1990s. It has had 
1 a dismal year, during which it has 
T issued three profit warnings and 
. pleaded with financial backers to 
loosen the terms of their loans. 

Its stock finished down 1 pence 
on Tuesday, at 45, far below the 166 


was not reaping the benefits she bad her plan was the right one. 


promised when she took over. The 
company was forced to slash prices 
on its spring and summer collec- 
tions, which have been heralded as 
the new way forward for the com- 
pany, and was further buffeted by 


Ms. Iverson, who earned $1.86 
million in salary and bonuses last 
year, is to receive a year's base 
salary of £760,000 but has been 
asked to return 5-5 million shares in 
stock options in the company. She 


the resignation of Basha Cohen, its could not be readied for comment. 


Sabena to Replace Boeing Jets With Airbus 


By Barry James 

International Herald T ribune 

BRUSSELS — Sabena Belgian 
World Airlines said Tuesday it 
would replace its medium-r ange 
Boeing jets with Airbus planes in a 
bid to expand its European netwcsk. 

It was a blow fbrtheU.S. jetmaker. 


medium-haul rentes in Europe. 
Sabena said the order was the 
biggest in the company’s history: 

The order in effect ties Sabena to 
the Eoropean consortium for the next 


20 years or more, analysts said. The its target. But Boeing has ran into 
sales made it more likely that Airbus production delays in its attempts to 


Bruce D ennis, vice president for Europe, is 49.5 percent owned by 
marketing at Boeing, said recently in Swissair. Sabena’s chid 1 executive, 
Brussels that it intended to hold onto Paul Reutlinger, said the choice of 
70 percent of the market and would Airbus was "the best economic 
fight “airline by airline” to achieve solution for the company.” By har- 


woold globally win more orders than 
Boeing Co., its only rival in the noar- 


which earlier this month opened a ket for aircraft of more than 100 seats 
centralized public relations office in capacity. Airbus has said it intends to 

DxiKmIf nrwl I I J .... •* ... . 


raise output from 18 to 43 jets a 
month ana absorb its takeover of the 
McDonnell Douglas Crap. 


Airbus was "the best economic 
solution for the company." By har- 
monizing its fleet with those of 
Swissair and its partner, Austrian 
Airlines, the airline would be able to 
save millions of dollars, he said. 

The aircraft were to be delivered 


. Brussels and had mounted a massive 
effort to sell its new range of 737-700 
aircraft to the Belgian carrier. 

• The airline’s .service subsi diar y, 
'Sabena Technics, has long special- 
■ ized in Boeing maintenance and re- 
‘ pairs for several airlines, 
i Airbus Industrie declined to com- 

.. meat on the details of the agreement, 
.1 which the Brussels newspaper Le 
1 Soir said was worth about 50 billion 
■■ Belgian francs ($ 1 .4 billion). 

Sabena will replace all 28 of its 
' . 737 jets, the oldest of which will not 
be able to meet new international 
regulations on airport noise. It said 
that it would buy 34 Airbus A319s, 


win 50 percent of the market 


U.S. Violates Subsidy Rules, EU Asserts 


Reuters 

BRUSSELS — The European 


Commission said Tuesday it had- sidy rules.” 


i which the Brussels newspaper Le complained to the World Trade Or- 
! Soir said was worth about 50 billion ganization about a U.S. export sub- 
Belgian francs ($1.4 billion). sidy plan that it said violated in- 
Sabeua will replace all 28 of its temational trade rules and put 
, 737 jets, the oldest of which will not European firms at a disadvantage, 
be able to meet new international "These subsidies are only avail- 
regulations on airport noise. It said able if a large part of the exported 
that it would buy 34 Airbus A319s, item has been manufactured in the 
A3 20s, and A321s for its short to United States,” the commission 


Sabena, the world’s 36th ranking over a three-year period starting in 
airline and die eleventh biggest in January 1999. The airline also took 

options on five more airliners, and 

converted options for two Airbus 

/ Jtllh>S KTI Assert* A330-200 planes into firm orders. In 
r iuues, Cj U Sibseruf December, 1996 it bought four 

A330s, which are used on high ca- 
said, adding that there it was there- parity or long-range routes, 
fore a "dear violation of WTO sub- In London, Fli ght Interna tional, an 
sidy rules.” industry magazine, said Airbus was 

The United States subsidizes ex- close to announcing sales of its four- 
ports via so-called Foreign Sales engined A340-500 and 600 models 
Corporations, which the cn mmis - to Lufthansa AG and Swissair, 
sion said were subsidiaries of U.S. The Toulouse-based Airbus con- 
firms usually located in tax havens sortium is owned by Aerospatiale of 
such as the U.S. Virgin Islands, Bar- France, Daimler-Benz Aerospace 
bados and Guam. AG of Germany, British Aerospace 

The U.S. mission to the EU in PLC and Construcciones Aeronaut- 
Brussels declined to comment. icas SA of Spain. 


The United States subsidizes ex- 
ports via so-called Foreign Sales 
Corporations, which the commis- 
sion said were subsidiaries of U.S. 
firms usually located in tax havens 
such as die U.S. Virgin Islands, Bar- 
bados and Guam. 

The U.S. mission to the EU in 
Brussels declined to comment. 


for returning cash to shareholders 
and seek a review of the government 
decision by legal means. 

Sears has sold 23 businesses in 
tiie past four years. In April, the 
company's chief executive, Liam 
Strong, stepped down, and Sears 
said it would spin off its flagship 
Selfridges department store, and 
might sell its shoe business, which 
makes up 34 percent of total sales. 

The sales have not helped the 
retailer, which once presided over a 
sprawling business empire that sold 
a range of items from shoes to tents. 
Hit by a slump in consumer spend- 
ing in tiie early 1990s, Sears had a 
loss of £1 19.7 million in 1996. com- 
pared with a pretax profit of £272.8 
million in 1989. Profit in 1997 was 
£68 million. 

Meanwhile, the chairman of Lir- 
tlewoods, James Ross, said, “With 
or without Freemans, Littlewoods is 
a key player in the home shopping 
market.” (Reuters. Bloomberg ) 


RAGE 17 


U.K. Bars 
Sears’ Sale 
Of Freemans 

CotfSrd by Ob St&Fnmi Dapnrtn 

LONDON — Sears PLC's re- 
organization plans were dealt a blow 
Tuesday when the British govern- 
ment blocked the sale of its Free- 
mans mail-order business to a rival. 
The Littlewoods Organisation 
PLC 

The proposed sale of the third- 
largest man-order house in Britain 
for £367 .5 million ($622 million) 
would “operate against the public 
interest,” the Department of Trade 
and Industry said. 

Margaret Beckett, the trade and 
industry minister, said the merger 
would have meant that Littlewoods 
and the market leader. Great Uni- 
versal Stores PLC, would have had 
more than 80 percent of mail-order 
sales between them. 

Sears warned to sell Freemans to 
raise money for a special dividend it 
promised shareholders angered by 
the more than 45 percent rail in the 
Ann Iverson, who was fired company’s stock price in the past 
Tuesday as Laura Ashley chief, three years. Sears snares closed down 

3.5 pence Tuesday, at 54.5 pence. 

"if it can go wrong, it will,” said 
William Cullum, analyst at Paribas 
r * g ~1 A • "■ Capital Markets. “It's clearly dis- 

1 T fl f\ I V* bYI 1 appointing: Investors don’t get their 

A WJ. 2. 1JU MW UO cash, and Sears will have to rethink 

its plans.” 

Sears said it planned to spin off 
Europe, is 49.5 percent owned by freemans in two years after im- 
Swissair. Sabena’s chief executive, proving its performance. It added 
Paul Reutlinger, said the choice of that it would "review its options" 


Frankfurt 

DAX 


London 
FTSE 100 Index 



Paris 

CAC40 

3100 

am J 

29qo n 


““J J A S 
1997 

Exchange 

Amsterdam 
Brussels : 
Frankfurt 
Copenhagen 
Helsinki 

.Oslo . 

London 

Madrid 

man ~~ 
Paris 

Stockho frn 
Vtetfflft : 
Zorich ■ 

Source: Teiekurs 


S O N I 


AEX 

BEL-20 
OAX . , 

Stock Market 
HEX General 
"OBX 
FTSE 100 
Stock Exchange 
MfSTEL ~ 
CAC40 

sxie 

ATX ^ 

SPI 


Tuesday . Prev. 
Close.. Close -I 
680.01 877.03 

~ 2,373.71 £367.97 
3.83347 3,794.61 


*3,454,51 3,428.00 

S78.92 874^74 

4,845.40 4.867.00 
572.95 ■ 571.00 


2,782.61 2.77SL39 +0.3! 
3,167.38 3,120.46 +1.51 
1,272.56 t, 262.1 3 + 0.81 
3,518,43 3,513^2 +0.1 i 

Inu'nuliinul Tnhj 


Very briefly; 

• The governor of the Bank of France, Jcan-Claude Triclici. 
said that after the introduction of single currency, European 
interest rates would be close to the rates prevailing in France 
and Germany. Meanwhile, Helmut Hesse, a Bundesbank 
council member said the euro’s "core countries” would have 
the biggest influence on rates. 

• The European Commission approved 98 million Deutsche 
marks ($56.3 million) in state aid to Volkswagen AG after the 
German government agreed to stop illegal subsidies to the 
automaker. 

• U.S. regulators will allow Sanofi SA of France and iLs U.S. 
partner Bristol-Myers Squibb Co. to market the drug. Plavix. 
aimed at preventing a hardening of the arteries, or strokes. 

• BOC Group PLC reported flat full-year profits at £445.2 
million, compared with £444.9 million. But the British in- 
dustrial gases company added that the results would have shown 
an 1 1 percent rise u adverse currency’ effects were excluded. 

• Northern Ireland Electricity PLC said it would restruc- 
ture under a new holding company. Viridiun. The regional 
utility also gave shareholders a £67 million bonus buyback as 
its half-year results slipped to £57.4 million from £52 million 
because of lower tariffs. 

• The European Commission approved Nomura Interna- 
tional PLC’s purchase of Blueslate Ltd., the William Hill 
betting chain owned by Brent Walker Group PLC. ex- 
panding the Japanese investment firm’s presence in the British 
leisure market. 

• Rabobank Nederland agreed to buy Banco Popular Es- 
panol SA’s interest in their 50-50 join! venture, aiming to 
broaden its services in Spain. 

• The European Union paid its cereal farmers 3 billion 

European Currency Units ($3.4 billion) too much in 1995 and 
1996 because of the bloc’s inefficient farm policy, the Euro- 
pean Court of Auditors has ruled. Btuomberg. Rtum 


WORLD STOCK MARKETS 


Ttiesday, Now. 18 

Prices tn local currencies. 

Taiekun 

High Law dose Piml 


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abn-amro 

Aegon 
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Faris Anar 
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Hogenws 
Henekea 
Hoogowmam 
Hurt Douglas 
I NG Group 
■ KLM 
IrKNPBT 
1 KPN 

' ESS"* 

OctOMn 
Ri Bps Etoc 


Unwnrcw 

VendraUtl 

VNU 

WoltenKIcva 

Bangkok 

Adv Into Sue 
BngUttF 
KramTMBk 
PTtExtfir _ 
SomCeWKUF 
Stan Cera Bk F 
TefcamBla 
| TMAJnms 
Thai Farm Bk F 
l/M Coran 

Bombay 

BoMAuto 
Hindus! Lever I 
Hmhst Petal 
indDevBk 

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StotrBk Wj 
SMAirfbcrtf 
Tott Eng Locd 

Brussels 


3U0 39-SD 3M> 
1&S4D 1M 167 
3DJ0 50-50 51.10 
337J0 JC50 341 
13SJ0 U430 137.10 
30l2C 30-50 3QJ0 
87 8&B0 81 

102-30 102.60 101.70 
176J0 178 177.50 

31 31.10 3U0 
79 JO 81-50 HU0 
M 4BJ0 48 

50.70 51.40 51 

8420 8620 8170 

331 334 333 

B840 W B9J0 

79J0 » 8020 

81 JO 82.10 8230 
68 49-50 69JO 

A Am 45 446 O 

78J0 7920 79 
5040 50.90 51.90 
56.4) 58J0 57 

20150 BUD 20150 
13620 14X60 13720 
106.10 106J0 107 

71 JO 73 7320 
»1 182 18020 
56.90 57 57 

17220 0220 170 

11BJ0 11820 118.10 
103J0 105 1O3J0 

11250 11280 11243 
101.50 103 10320 

46.70 47J0 48 

Ml 24290 24320 


SET Mac 448,13 
Previous: 44147 

183 179 JO J81 

145 136 >38 W3 

17 1425 16-50 1620 
3W 378 M 
394 388 3« 3W 

80 78 80 8020 

19 17.25 18 

49 47 47 47-50 

110 104 107 102 

48 47.75 4725 53 

imsm 38 tedrac 35108 
prems:3S78.18 

55725 548 552 5S9 

129850 1255 1300.75 

444.75 43825 444S 

86J0 8425 K 87 
540 52125 524.OT SjgJD 
23125 226 279 22925 

M625 16225 16320 16720 
24625 241J0 24425 246.75 
M 1175 1325 1325 
318 30925 316 315.75 

BEL-aaM« 

PfWMo: 238727 

1580 15(0 >575 1560 

49S0 6»0 6890 

95M 9410 9*50 9450 

mo 3140 JM0 31» 
18750 18300 18300 I8«0 
1800- 1740 1700 1 775 

8250 8190 

3470 3330 OB X®J 

TTOn 7060 7200 7070 

W0 1400 1468 1402 

5190 5130 5140 

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15150 14725 150» 

13950 13775 13B0 

SO70 5070 50TO 51C0 

9250 9150 9240 942 0 

3390 320° 3355 3300 

2185 2 i» rm ’“I 
3100 3065 3070 3065 

118500 117350 118000 118300 


Copenhagen 

BG Bon* % $ $ 

CatohwpB of* TO 906 905 

l aden F ort w S 5*5 ^ 

4,00 m 4I0TO 

FLSIndB ^ 795 900 

KoOUlftata* S 757 75475 

MvaNwdfehB »* .g I010 1006 

SI 

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JS 24i!S "SS 

tur SS 53 2* IS 

si 3 2 S a 

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CXAGCoK^a 1® 6110 61-W 

Commertlta* ,u30 114» 

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SJuSi 8120 » 


BBL 

CBS 

Crhtllfl 

OctxdirUon 

Electrode! 

EtadMBno 

Forth AG 

Gcvaert 

GBL 

CenDanrae 

Prtfofina 
Pawafin _ 

SSfSX 


OeutKheBank 11230 
DeutTetetem . 3520 

DnsdwBiMi' (820 

Fnscntos 287 

FteseabaMed 125 
Fried. Krapp 364 
Geta 9020 

Hddefcg Zmf 145.90 
Henkel pfd 1 1X720 
HEW 460 

HochtW <9 

Hoechsf 7020 

Knraodt m 

Ldweyer 7520 
Lhde 1030 

LufltounR 31.15 
MAN 519 

Monesrani 793 

Retro 78.10 

HmdiRwckR 549 
Prewsog 474 

RWE 7920 

SAPpfd 495-55 

Sdietta) 16830 
SGLCmton 22720 
Stamens 101.10 

Vi 

sar « 

VEW sac 

902 


Helsinki 

EmoA 

HutamMI 

Kendri 

Kesko , 

MeflWA 

MefraB 

Mehd-SeriaB 

Neste 

Nokia A 

Crtoo-YWympe 

OtAaMaraiA 

UPMOnraefle 

Valmd 


Hong Kong 

tss& ,ts 

Cathay Ppdftc 740 


aora Pnw. 

11130 107.15 

287 263 

120 11020 
364 36120 
90 90 

14520 139 

187.10 1 04J0 
460 460 

6720 6820 
7020 7030 
sm si 

7420 7560 
1025 1(04 

31 3120 
52720 53130 
790 776 

3329 3320 
7720 7880 
546 557 

472 457 

7920 80 

495 49020 
16880 16320 
22260 r«sn 
101.90 100.98 
N.T. 1350 

890 872 
40820 409.90 

9920 9620 
580 600 

891 B93 
TO 921 


Mob Lam am Pw*. 


SA Breweries 12220 12040 12140 12140 

SantBxrr 31 2920 2920 31 

Sasof 57 55 2620 320 

SBfC 20940 208 209 TO 

TlpsrCWs 6880 6640 64 68 


High Law Ctase 


Htgb Low oom Pro*. 


Kuala Lumpur 

AMMBHdps 5.10 

Gtaitog 92S 

M Banting 1220 

MdlrtlStapF 6 

PetronasGas 920 

FVOtan - 720 

PoMcBk • 2-10 

Henanfl LBI 

Resorts Warti 525 

RfrihnoaPM 2940 

SbneDffby 434 

TdakanMal , 925 

Tentgo 735 

ITtdEngkwws 525 

YU. 4.16 

London 


■rapnita B2I19 
Pmtaat: 66739 


£10 

<44 

<44 

9J5 

825 

920 

1220 

11.50 

1140 

6 

£30 

£35 

9-20 

a* 

8.90 

740 

7 

7 

110 

107 

no 

221 

224 

221 

£55 

454 

<98 


UUUtMes 
VendoraeLxats 
Vbdafane 
Whfflrad 
Wfejm Htkp 

Woksler 

WPP Group 
Zma 

Madrid 


743 725 728 721 

325 338 320 328 

322 340 140 328 

822 8.10 822 820 
190 142 ISC 123 

545 5-06 MW S.15 

178 173 173 377 

1726 17-W 1741 1741 


CAG40s278t61 
Prarisus. 177199 


star HtaB 57345 
PnrtfaBE 57140 


2825 2940 
192 196 
7-95 115 
7.10 725 

341 346 
320 328 


FT-SE 100:484540 
PwrfswB 486741 


HEX Geoend tadex: 3454J1 


Preftoos 342AM 

<7 

47 

47 

47 

231.10 228-50 

230 

232 

52 

51 

53 

51.10 

74J0 

7180 

74 

7140 

26.10 

2£» 

25.90 

25B0 

135 134J0 134.90 

134 

4560 

45 

45 

4SJD 

12150 

m 

122 

122 

454 

446 

448 

442 

207 

205 

a 5 

XB 

7180 

71 JO 

7140 

7120 

12150 121.70 I21J0 

I7J 

79 JO 

77 JO 

7B20 

7620 


□CFofnstrud 
□od Hong 9k 17.90 

KSSSS » 

HendenonLd 

HK China Gcs U.15 
HKBeOrtc 27.10 
H<Tetacoran 1530 
HoaMdMQS 125 

HsScHte 181^ 

HutertMnWh 53 
Dp» 16.15 
nBHdg 7120 

Jg-Wcev S3 

CMBtal Press 248 
PNriOrtenU 020 

Sine Land Co. 647 
Sth China Past 525 
SwtreP«A ~~ 
Wharf Hdps 
Whesiock 


HragSepf:10M5.18 
Pieviaas: IP41935 

645 645 640 

16.10 16.10 1645 
7.10 725 7 JO 


37.10 3720 
3140 3120 
1743 1720 
520 545 

1060 1020 
63 6625 
620 640 

3820 3920 
1320 1320 
2*20 2620 
1460 1420 
2 X 6 220 

176 17720 
51125 5120 
15.90 15.90 
2140 2120 
1X15 1155 
2545 2545 
1.94 2J» 

047 048 

5335 5625 
150 155 

423 440 

545 520 

3820 3820 
1215 1540 
825 825 


Abbe* Nan 946 *21 

AfltaaDaaecq 227 211 

Angflan Water 80S 740 

Ajwjs 471 641 

Aria Grow 144 141 

Assoc Br Mods 229 242 

BAA 203 686 

Bon lays 15 1442 

Ba» B22 829 

BAT bid 547 226 

BankSaritond 205 425 

BWeCWe 327 342 

BOCGroap 9.77 920 

Beats 845 826 

BPBtnd 320 335 

BrtAensp 1520 1235 

BritAbways S2S iH 

BG 173 246 

K Land 4.71 627 

PsBm 825 846 

BSkyB 432 629 

BrtStel 120 144 

SrflTetecoa 445 441 

BTR 113 Mt 

BimrsrfiCasW 1024 10X16 

BortoaGp - 143 140 

CoWe Wretess 219 203 

CfltawySdwr fcAS 607 

CtrtarCcBtni 429 450 

Cnemxi Union 722 728 

CmuassGp 660 623 

CoSfiSds 188 226 

Means 480 620 

Etadroanpon£nti422 436 
EMI Group 215 201 

I32S&3S S "S 

RxnCoionta 163 141 

GertlAcddsrt 945 924 

GEC 403 336 

GKN 1245 1220 

G*J»Wefct«n. 1266 1240 
GfWodaGp 8.10 735 

GrondMet 525 549 

GRE 3JU 190 

GreenaflsGp 3L79 322 

Guinness 273 547 

GUS 7.10 692 

Havs 735 723 

HSBCHMpt U06 1345 

la 860 825 

lari Tobacco 3^1 343 

a si 

Land Sec 990 9 JO 

Losroo 242 248 

Legal God Grp 201 448 

UofdsTSBGp 731 646 

LucasVafiy 19B 150 

MateSpenaer 205 290 

MEPC 225 22) 

MeranyAss d 1169 1228 

NrianslGrid 191 245 

NatfPwwr 523 539 


Jakarta 

AdnM 
BkMIMon 
BkMepara 
Gudanp Gross 

lAdoatoert 

indotead 

Indascrf 

SramoemaHM 

SemanGreffl i 

Tctekronintad 


Orap Mtateta« =q*jl 

MwOM 


2050 

1950 

XB 

20M 

675 

650 

675 

675 

700 

675 

675 

675 

8800 

8350 

8475 

8700 

1700 

1650 

1650 

1700 

2650 

B7te 

2S75 

8535 

2575 

8700 

2650 

8500 


5425 5375 5600 53W 

3575 3500 3550 3650 

3000 2850 2875 2900 


Johannesburg «*“{•«£ 

AfiSA Group 30' 2945 2990 294$ 
ArofaAraOta 260 258 960 265 

fflsssgr iws s a 

n 7Jg 6.90 V « 
4640 66 4650 6550 

K jo a» a» 20« 

IIJ740 106J0 l^W . IW 
2935 29 29.10 79 

40 40 6050 

720 6.90 730 7J0 

41 J0 60 60 60 JO 

41 JO 6050 60 JO 61 
2035 1950 70.10 1950 
240 222 225 241 

S 56 5420 5480 
308 305 3C0 710 

U7 114 JMJ0 1M 
1640 1620 H50 12* 
S950 8830 89 8950 

— ^ ^5 1420 1530 15 

Hawpo* ,«* 104 IBS MS 

►Wear m 3fM 

S 5 in St 5330 


Brotow 

CXi. Saita 

De Bests 


Goat 

Btsr 

iffir 

Mtnoreo 

uSsr 

Hembrt«i|Co 


NmidilMan 

Oronoe 

P&O 

Perasan 

PBdhBhm 

PowwGsn 

Premier Fornefl 

Prudential 

RateriiGp 
Rank Group 
ReddbCOMi 
Ra*md 
Reed U 

FtatfokllBM 

RsutenHdps 

Resui 

RTZrep 

RAK Group 

Rofls Rwoe 

Roydi BkSaS 

RawliSunAJ 

Sarny 

SebKbwy 

Sdwaten 

SaitNcwcosfc 

Sad Power 

Seeurtar 

Severn Trent 

SheflTraspR 

Sfebe 

Nephew 
5ormane 
Smiths tod 
StoemBec 
Stapecaadi 
Stand Orate? 
Total Lrfe 
Tesea 

TtoaaesnUer 
3 Group 
Tl group 
TonttB 
Unfleue? 

S3issr“ 


724 723 

345 355 

252 240 

6J0 260 

7.91 736 

126 122 
747 727 

422 433 

653 645 

10.11 936 

353 342 

840 220 

234 32D 

243 222 

a 

755 728 

ss 

656 628 

s & 

4J9 690 

1690 1645 
626 643 
483 457 
US 2J9 
9X3 8J4 

437 4.16 

11.15 TOSS 
124 121 

551 538 
797 724 

455 445 

847 7JB 
651 639 

643 459 
402 480 

8.95 823 

487 428 

5.15 4.90 
290 225 

420 45B 

&M 5 
735 726 


945 955 
£15 £34 
8 794 

646 643 

142 146 

55B 548 

690 496 

1482 1490 

823 826 

536 547 

5J33 526 

£51 £56 

925 959 

842 825 
336 338 

1542 T55Z 
543 548 

248 247 
463 646 

880 853 

412 413 
146 150 

454 441 
£04 2JJ2 
10.11 1030 
141 142 

£11 £13 

«4» 6 M 
459 456 
745 722 

657 656 

229 248 

627 629 

439 638 

5l10 5.12 

425 426 
6-09 652 

143 143 

941 940 

402 6 

1225 12-82 
124! 1241 
8JJ3 801 
£72 522. 

3 298 

£73 323 

523 523 

696 7 

7JJ7 720 
1125 3398 
845 850 

384 £89 

834 839 

225 221 

980 984 

£75 281 

498 5 

7.16 7.15 

1.96 2 

£91 597 

£32 532 

12.95 1187 
288 293 

£38 £9i 

828 822 
736 723 

343 341 

241 251 

657 628 

786 788 

123 124 

743 780 

435 431 

652 649 

9J9 1 CL» 

346 349 

820 855 

323 321 

£93 549 

229 226 

625 <41 
190 288 
747 754 

9471 924 

2JB 243 

651 650 
5JD 536 
£93 42 1 

652 499 

16lW 1647 
620 626 
44ft 459 
286 183 
897 896 

422 6.13 

7121 1035 
123 121 
£41 550 

795 795 
4S <55 
844 £35 

644 <33 

<60 453 

4,92 449 

890 847 

<81 482 

5 3JM 
217 288 

<59 656 

£86 5X0 

7.0 737 


ACESA 

Agoos Baroton 

$*** 
Barash 
BanHrter 
Ben Centra Hop 
Bca Papokr 
BgaS a atawtoi 
CEPSA 
Confine* 

FECSA 

GcsNaUmA 

toertrota 

a 

Se^BanaEtec 

TtJbeailflre 

Tetetaok® 

Union Feaaa 
VtfsncCsaea 


Manila 

AyPta 

Awto Land 

B&PWpIsl 

CiPHraras 

Manta ElecA 

Mein Bank 

Pelroc 

POBank 

PMLaooDW 

SaoAUgueiB 

SMPikmHdo 

Mexico 

AtaA 

BasacdB 

CemacCPO 

atraC 

EmpModeraa 

GpoCanoAl 

Goo F Banner 

Gao Fin Intwira 

fimbOrokMes 

TeteutaCPO 

TetMraL 


ABeanm Axdc 
BaiCDromM 


7rre 21 891 
1995 1960 
5890 5790 

850 8400 

4100 4000 
1375 7345 

7620 7460 

2880 2780 
8570 8320 

4140 4015 

4610 4320 
2900 2750 
6390 6230 
2715 2685 
1250 1225 

6830 5620 
1800 1775 
23S 2250 
6540 6390 
1395 1360 

11950 11550 
4105 4045 
1430 1415 
2890 3850 


21920 21680 
1990 1995 
5850 5800 

84» 8510 

4090 4035 
1370 1 330 

73X 7590 

2850 2880 
8340 8490 

4120 4050 
4360 4410 
2825 27S5 
6300 6300 

2695 2710 

1225 1245 
6790 6590 

1790 1795 

2295 2230 
6470 6450 

1390 1360 
11600 11740 
4070 4070 

1430 1430 

2850 2880 


ENI 

Fta 

GeeeroiAsUc 

IMJ 

IMA 


Otaeai 

Ponnalai 

PM 

BAS 

Rato Banco 
S Paata Torino 
TetectwHoOo 

TIM 


Montreal 


Bo Mob Com 6135 

Cdn Tire A 2U5 

HO USA 3995 

CTFtolSsc 47 

GazMtaD 19.15 

Gt-Wesl Ltaco 38 

brem 47 JO 

InuesteesGrp 64 

LotatawCas 22V> 

Nall Bk Canada 2220 

Power Crop 45.95 

Power Finl 6S 

QwbecorB 28V, 

RogenCran B UO 

ftoyoJBkCda 78.15 


PSEtoda: 181726 
Prevtoas: 1892J7 

1425 1150 1150 14 

1150 1325 T3JD 1320 
94 9320 9320 9320 
£65 225 225 JJ5 

71 4920 70 71 

295 28220 285 290 

155 345 ISO US 

140 136 136 135 

BS5 835 845 835 

•48 4720 48 6720 

620 630 £40 640 


jtadec 65*923 
sdm 6588.11 

6020 6020 
1720 1720 
3020 3020 
1436 1426 
fll20 3920 
4840 49.50 
2 J 2 2 J 1 

28.95 2920 
35.10 3480 
16100 1«U0 
18.72 1820 


MIBTNiwaliCB. 1516480 
PnvfOM: 1513&M 
<00 15360 15500 15410 
1880 4700 4700 48S0 

a60 66S0 6465 47B0 

579 1541 15W 1590 

400 25651 36400 257X5 
1400 4Z70 4375 <325 
>300 9255 9270 9295 

1190 10065 10080 10160 
1915 47B0 4780 4875 
1900 38200 38350 3WJ0 
670 17250 17630 17790 
<545 M10 3010 3CM0 

260 6480 6530 6545 

1650 8570 8615 8640 

350 1206C 17170 17155 
3S4 1331 130 1330 

996 975 980 987 

360 m 5 7355 7310 

030 4215 42M 4245 

590 15550 15250 15630 
TOO 73350 23700 23050 
780 13505 13700 13625 
730 10620 10695 10625 
750 6685 6730 67X 


Prestons: 333405 

314 43U <3U 

7te 27H 2L40 
9te 39.95 39.90 
a 47 47 1 * 

JO 19.15 TBJS 
35 37 JAV 

JVt m 47 J0 
20 4190 4415 

2M 22 VS 2» 
25 2240 2Z40 
45 44 SB 44 m 
416 UVi 4470 
814 2820 2820 
.10 8.10 820 
71* 77<5 77V, 


OBX totas <7822 
P re w aps . 67474 


□wnaRkeBk 
Eltom 
HrisknIA 
KyaaWfAM 
Norsk Kvdro 
Norsks StogA 
HrcrondA 
□MdAraA 
Petal GsoSk 
P etto A 

Taananoa 

StoretrandAsa 


120 12150 
20750 20920 
26 26 
3020 3020 
104 106 

4020 <1 

351 399 

371 376 

732 236 

186 1B6 

612 612 
497 497 

138 138 

1M 126 
N.T. N.T. 
SO SO 


AirLkntata 

AJcrtdAtPi 

Axo-UAP 

Banarim 

BfC 

BNP 

canal Plus 

Canetour 

Casino 

CCF 

GMero 

CbrfstkmDkr 

CLF-OetaFron 

CrroaArota* 

Demons 

EJ-AquBotae 

EridontoBS 

ErowSsnes 
Eurotunnd 
France Tetooso 
Got Emu 

Homs 

Imeto 

L otape 

Leroroid 

L-drSl 

tVMK 

iWrtietaB 

PorfbasA 

Pernod Rind 

Peugeot C8 

PtrxB)8-PrW 


Rft-PautencA 

Srowfi 

rrlwiroTrin 

bamejoef 

SEB 

SG5 Thomson 
5ta Geaerata 
Sodntio 
SI Gatxrin 

5oa(CW 
Suer Lyon Eaux 


1093 1061 
N.T. N.T. 
921 909 

708 695 

409.90 40450 
775 757 

397 38A60 
265 259 

1030 1007 

3004 2772 

327 324 

33720 328.10 
636 621 

605 590 

403 596 

1231 1231 
948 923 

727 715 

886 861 
725 720 

515 £65 
216 21320 
757 743 

387.50 £75 

675 651 

365 35HJD 
1093 1065 
2212 7153 
993 971 

314 308.10 
415-90 41020 
297 29020 

as 606 

2929 2800 

1960 I860 
15380 15120 
1560 1535 

25560 24820 
585 565 

31010 305 JO 
695 682 

430 413J0 
746 756 

2860 2825 
BW 785 

1425 U25 
608 596 

701 679 

151 148.10 
656 643 

91 89 


S&o Paulo 

BradmtsPM 

BntamaPfd 67 

CantaPfd 4 

CESPPW 7 

Coed 1 

EWrobms 50 

ItaubanaaPM 53 

Light Strides 40 

a 

PoDtstoLor 12 

SW Nodonol 3 

Souza Cna 
TdrtansPtd 11 

Tetenig 1J 

Teterf 10 

TetespPfd 26 

IMbaico 3 

UsJmlnesPfd 
CVfRD PM 7 


1090 1066 

MX 29720 
915 918 

701 700 

0820 408 

770 755 

392.90 39220 

260.10 260J0 

1024 1022 

2987 7977 

22520 325 JQ 
334 33420 
636 620 

977 596 

600 593 

1231 1250 

944 9H 
725 727 

968 883 

7-70 725 

£80 £70 

71520 71420 
747 746 

380.10 3B0J0 

658 671 

362 358 

10B4 W80 

2196 2172 

985 973 

31070 311 

412-50 411 

29440 794 

613 621 

2861 2833 

1940 1935 

15220 15120 
IS5 1555 
25490 25020 
585 S» 
30620 307 JO 
688 688 
41420 41420 
762 7S1 

2840 2813 

794 798 

1425 1450 
604 605 

690 674 

14820 149 

653 650 

9025 9935 
—30 384 

todecKUT 

men: 906135 


740 BJX) 
63520 672X10 
42-50 4450 
6800 7099 
1020 1062 
48100 497 JO . 
51000 51500 . 
39500 40000 . 
149 JM 17000 1 
21400 22600 
17720 12400 
r> sn n <n 
727 729 

10620 11020 
11800 11800 
9900 lOOOO 
25520 36600 
31X10 3100 
620 7 07 

2120 21.99 


Dacron 

Daewoo Hsavy 

KotmHPwt 

VOMEretiBk 

LGSerotofi 

Pahang Inn St 
Samsung DisJor 
SaaDungEtac 
sfiSraiBank 
SA Telecom 


Composite todec 4M44 
PiratonK 49698 

53000 50000 5 3000 53000 
5760 5170 5400 5370 

14400 13400 14400 14100 
7BX 6350 7000 6900 

13900 12700 13700 13500 
43S0 4120 4250 42S0 

20500 18700 20300 20000 

®2S S1SS SSS * 3Soe 

34200 32200 33300 34400 
42900 40100 42300 42200 
7300 6950 7100 7200 

330000 290500 317000310500 


Singapore 

AstaPocBrew <70 

CroebosPoc <62 

OhrDwtb 7J0 

Cyds Cartage 725 

Diriry From fat" 088 

DasfofSgB uao 

DBS Ltom 228 

FrerarS ttaove H.1D 

HKUnd* 2.28 

Jord Matter * 520 

JardSMcBic* 226 

KeapelA 545 

** 

ssp&iat 

OSUntaiBk!, 
PariawyHdgs 424 

S towbowang 5 

Stag Air foreipi HJO 

»glrata <60 

Sing Press F 2160 

Stag Tech bid £03 

Stag Ttaecomm 228 

TafLceBgnk 260 

UidintaaMd 0-74 

IrfdOSHSkF 960 

WtogTtaKdgs 229 

*frft£ Atari 


Strata Tiroes: 140961 
Pmtaass 149845 

£70 <70 <70 
<56 <56 <58 
725 760 760 

7.10 7i5 7,15 

066 0J7 0J8 

T4J0 1460 1460 
220 2-72 2.72 

720 7.90 755 

2.18 119 123 
£40 £45 565 

2J3 2J3 2J6 

525 £25 5^0 

260 260 185 

473 482 <88 

2J1 2J1 224 

9 9 920 

£« £95 620 

<14 420 <70 

£94 5 S 

U 11.10 1140 
AS* 424 <50 
2DJ0 2120 2U0 
1J6 169 1JB 

220 7-76 269 

IS5 157 
171 171 174 

9J0 9JS 965 
105 265 227 


Electrotux B 
Ericssoa B 
Hetmes B 
tacenOw A 
toreslorB 
MoDo B 
Nordbcnken 
PnornVUplahD 

SondnkB 

Scania B 
SCAB 

S-EBankenA 

SkorxOa Fare 

SkanstaB 

5KFB 

Soarbanken A 
SbraA 
SuHondstsA 
VoteoB 


High 

Low Close 

Pm. 

too 

585 595 

,990 

325 

316 32150 

318 

327 JO 

319 372.50 

323 

662 

645 658 

650 

. 3S5 

345 352 

349 JO 

223 21520 220 

218 

25520 

250 25320 25020 

248 

240 24420 24320 

230 ZI6J0 22450 

219 

186 

178 183 17820 

175 

169 17450 

171 

84 

81 8150 

81 

365 

356 356 

362 


297 290 296 291 

175 1 7220 174 17<5D 

176 17220 17220 17720 

107 10120 105 10220 

25620 24920 25620 25120 
210 20320 21020 20520 


Sydney 


ABthtarotaT 86*828 
Provfaos: 24*720 

Arocor 

620 

625 

626 

640 

AHIBKna 

IUj® 

1030 

1622 

1038 

8HP 

KOI 

1145 

1347 

1328 

Boro! 

180 

160 

320 

379 

Brondrfeafnd 

2721 

2620 

27 

2720 

CBA 

1/28 

16.90 

1620 

17.17 

CCAmatfl 

II 

1025 

10.90 

1190 

Cates Myer 

726 

7.76 

725 

125 


£7B 

£71 

425 

SJS 

CSR 

US 

<45 

460 

<46 


2-71 

US 

227 

7-65 

GoorkwnFW 

120 

116 

2.19 

2.16 

IO Australia 

II 

1029 

10 fit) 

1 U26 

Land Lease 

28.90 

28 

2827 

78.18 

MIMHtte 
fifed AtriBank 

1.18 

2027 

IJ6 

3020 

12/ 

7028 

1.14 

2020 

Nat Mutual Hdg 

228 

223 

136 

226 


720 

723 

129 

725 

Pocfflc Dunlop 

106 

2.94 

3 

JJ5 

Ploneerital 

329 

1AI 

170 

179 


820 

8 

8 

825 

Rtolhda 

1620 

1627 

16.40 

1641 


880 

869 

8.73 

868 

WMC 

£17 

5 

5 

£13 

WestpacBktog 
WooSde Pel 

9.10 

1125 

aw 

ii.ii 

9 

11.14 

9 

1127 

Worfwnrihs 

424 

<45 

<50 

<40 

Taipei 

Stock 

MOW tadWC 764457 
Prefect: 769024 

CottioyLEtolRs 

139 

135 

134 

134 

OntaHwoBk 

aitaaTangBk 

W 

94J0 

9420 

95 

71 

68 

68 

6740 

Chtna Dniferait 

95 

» 

90 

90 JO 

CMna Steel 

2320 

7720 

TLX 

23 

Finl Bank 

9820 

95 

9550 

9520 


51 JO 

4920 

50 

50 

too Nan Bk 

Wt Crown Bk 

105 

JUO 

0150 

0140 

5S 

4150 

54 

5340 

Nan YaPkcrics 

5220 

SO 

40 

51 

Shki Kang LHe 

93 

89 JU 

«9 an 

8840 

Taiwan Semi 
Totww 

Utd Micro Sec 

131 

17? 

122 

126 

3320 

69 

3220 

63 

3220 

64 

32J0 

<6 

UM WorW Otoi 

58 

4650 

57 

4640 


Stockholm sxutorat 31473 * 

P ra eto ui; 312866 
ADA 8 94 9420 9520 95 

ABBA ■ 8520 8720 K 

AsrtDoman 215 205 712 205 

Asks A 125 12220 12420 mra 

Alps COFCO A 22620 221 226 221 

AutoOr 303 298 300 30120 


Tokyo 

AHnORUtD 

ABWppoa/Ur 

Anwar 

AsoMBroik 

AsaMdiam 

Asatd Gtost 

Bk Tokyo Mlsu 

BkYakfliiraB 

Brtogestorw 

Canon 

QwhuElec 

QiuaokuEtoc 

Dalfepp Prim 

DaW 

Dot-tctt Kang 

DaMBank 

Dahra House 

DahraSec 

DDi 

Denso 

East Japan Ry 

Etoal 

Panic 

FuOBroA 

FufiPhta 

FupSu 

HodtarolBk 

I-Btoctli 

Honda Motor 

IBJ 

IHI 

Bocbu 

tta-Vhkodo 

JAL 

Japan Totxxro 

JUSCD 

Kcftna 

KroBotEiec 

Kao 

KaMBoHHvy 
Korea Steel 

nnum>Ry 

POnn Brewenr 

Kobe Steel 

Komatsu 

Kubota 

Kyocera 

KyustwEtee 

LTCB 

Muuberi 

Maud 

W o huC sm 

McdsuEkclnd 

Matsu Elec Wk 

MfistateM 

MBsuabMCh 

Mitsubishi B 

Mitsubishi Est 

MBsubUdHvy 

MtaJUsUMot 

MJsufetsMTr 

MBsui 


NUtatm 1672627 
Praekres; 1428328 

1140 1220 >170 

590 602 595 

2630 2670 2630 

650 600 

585 ' 586 

819 831 

1680 1770 1750 

48 410 fli 

2590 2660 T&O 


S 8 

2750 

3150 

2980 

2050 

2060 

2080 

1920 

1890 

1910 

1920 


2350 

2500 

2430 

565 

533 

534 

570 

f; 

«9 

1030 

967 

360 

337 

345 

363 


1100 1020 1060 1040 

627 611 625 630 

4160U 3900a 4000e 4 1 00a 
2510 2220 2380 2280 

58500 5750a 5820a 5800a 
I860 1710 I860 17» 

4930 4690 4S80 4690 
959 861 913 874 

4650 4440 4500 4500 

1420 1360 M10 1370 
1140 1030 1090 1110 

955 918 945 938 

4480 4280 4380 CIO 

1190 1090 1120 1090 

290 280 2B3 280 

434 410 411 433 

6150 5820 6140 6020 
405 399 402 395 

9900a 9510a 9870a 9610a 
2380 2330 2380 2290 

530 43S 501 490 

2170 7100 2140 2170 

1700 1740 1710 

306 325 318 

228 220 Z25 274 

714 710 

1040 956 1010 972 

137 13 132 137 

729 704 729 712 

450 414 444 419 

6430 6330 6410 6430 
19B0 1950 i960 1980 

21 306 309 318 

389 353 380 372 

2110 1980 20U 2040 

3790 3490 3730 3850 

2040 1970 2040 1990 

1120 1070 1090 1060 

1W 986 1030 1010 

285 266 280 282 

39S 350 380 355 

1450 1376 1430 1410 

527 510 522 514 

472 445 473 460 

1570 1380 1520 1380 

965 920 950 930 


The Trib Index *»»* * 3 jo>pji 

Jan. 1, 1932 b 100 Lewi Change % change year to date j 

% change 

World Index 167.35 +0.08 +0 05 +12 21 \ 

Regional .Indexes 1 

Asia/Padflc 98.92 +1.05 +1.07 -19.86 

Europe 166.91 +0.64 +0.34 +15.95 

At America 208.12 -1.30 -0.62 +28.54 

S. America 136.33 -1.65 -1.20 +19.14 

tndustriai indexes 

Capital goods 210.66 -1.40 -0.66 +23-25 

Consumer goods 196.07 -0.77 -0.39 +21.46 

Energy 199.34 +0.78 +0.39 +16.77 

Finance 117.97 +0.44 +0.37 +1.30 

Miscellaneous 157.81 -0.60 -0.38 -2.45 

Raw Materials 171.97 +2.76 +1.63 -1.94 

Service 166.08 +0.67 +0.41 +20.94 

Umes 159.73 +0.53 +0.33 +1134 

The International Herald Tribune Wort/ Stock Index «? tracks the U.S. dollar values ol 
280 kuemaponaty Invastabie stocks from 25 countries. For more rtormanon. a free 
Oooklatisavatabletjy wnong to The Trt) Index. 181 Avenue Charles deGauOe. 

92521 NeiMy Cede*. France. Compiled by Bloomberg Atews. 


Low dose 


Mitsui Trust 
MuratnMfg 
NEC 
NfckoSec 
Nftan 

Nintendo 11800 

Nipp Extw&s 
Nippon 01 
Nippon Steel 
Nissan Motor 
NKK 

Nomura Sec 
NTT 1080b 

NTT Data 6180b 

00 Paper 
Osaka Gas 
Rtata 

Rotim • 13000 

S(*uroBk 
Sank»o 
SoirraBarA 
Sanyo Elec 
Seaxn 
Seibu R*y 
SekisulCnm 
Sekisal House 
Seven- Eleven 
Shop 

SNkokuEIPwi 1940 
Shimizu 
Shm-etsuCh 
ShfeeUo 
ShiruokaBk 
Softbank 3200 

Sony 10700 

Sumitomo 
Swtomo Bk 
5«DllCliein -#*. 

Sumitomo Elec 1730 
Swill Metal — 

SuroS Trust 
TafehoPtwm 3200 

Tokedo Own 3690 

TDK 10400 

TohokuEIPwr 1950 

TakniBank 
ToUd Marine 
Tokyo El Pwr 2350 

Tokyo Electron 6380 

Tokyo Gas 
Tokyu Crop. 

Tonen 
TappanPtirt UN 

Tansy Ind 
Toshiba 
Tostera 
Toyo Trust 
Toytta Motor 3510 

Vontonouchi 3100 

a* mix* IMS 


1370 

1210 

1340 

1TO 

400 

341 

386 

350 

4780 

44W) 

46/0 

4440 

1360 

7310 

1370 

1330 

1670 

1540 

1580 

1560 

417 

397 

413 

405 

11800 

USUI 

11700 

11400 

770 

494 

717 

730 


44? 

448 

458 


753 

760 

768 


640 

■u 

670 





1500 

1410 

1460 

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6180b 

K)30b 

6130b 

605011 

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466 

S79 

489 

794 

780 

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284 

1780 

1640 

1720 

1650 


13000 12700 13800 

530 492 517 

4180 3970 4170 

>320 1>» 1233 

367 347 355 

8070 7900 7990 

5850 5630 5800 

925 8»5 900 

998 992 998 

8900 8730 8780 

835 872 

1940 1900 1940 

545 481 514 

7990 2870 2930 

1950 1820 1900 

1240 1170 1700 

3200 XX DOJO 

10700 10100 10500 

810 B60 

1440 1320 1400 

472 40 470 

1730 1670 1720 

— 262 277 

771 875 

3200 3090 3200' 

3690 3500 3690 

10400 9900 10200 

1950 1900 1940 

760 674 774 

1170 1130 1150 

2350 3790 2350 

6380 6090 6380 

294 300 

563 585 

890 949 

1690 1560 1670 

584 630 

S52 572 

1610 1440 1590 

900 820 860 

3510 3410 3480 

3KD 3000 3100 


Toronto 

AWKI Cans, 
ABerto Energy 
Alcan Alum 
AndasonExpl 
Bk Manfred 
Bk Nam Sadia 
Boride Gold 
BCE 

BCTetscanm 

Btodran Phans 
Bronb on fierB 
Cronoai 
QBC 

CdnNall Rofl 
CdnfotRes 
CdnOcdd Pet 
Cite Pacific 
fmtiira 

Dote® 

Damto 

Donahue A 

DuPcntCda A 

EdtKrBnBcon 

EuroNHMng 

FattaFM 

Fatambridge 

FWdwOBHA 

FronatNewnta 

GuHCtoRes 

Imperial Oi 

taco 

I PL Energy 
LaUtwB 


TSE ladesMTOs: <75324 
PreitoaS: C79U9 


1 025 18.30 
3T^ 3070 
4020 39.45 
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6640 651. 

65.15 6<40 

wt 2£90 

41 IK J9.« 
3720 36J0 
3625 3170 
2825 27.9S 
5180 51 

4420 4385 
7440 73*i 

36*4 35U 
3410 33V. 

4185 40.90 
27.95 27 

24 JUS 

10'1 1020 


LaUtwB 
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MoanB BM 

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2680 2585 
19 1814 
340 339 

2085 1825 
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2840 27,90 
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3470 3» 
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W BA 1 S 
13.10 1£9Q 
mi 21.90 


1020 IBM 
3070 3145 
3985 3985 
14 1440 
6545 6620 
6445 45.05 

2£90 2415 
4285 4285 
37 36JS 
36 3585 
28 28.05 

51.10 51J0 
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88.15 oa» 
13 13 

21.90 Z2A5 


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page is 
















































































PACE 19 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, NOVEMBER 19, 1997 


Time to Privatize 
(Japan’s Post Office? 

Minister Seeks to Se al Fate of an Icon ’ 

Stephanie Strom wa y of harnessing private savings 
New * oriT ™e* Swire for use in building the country's 

TOKYO — To Junichiro Koi kSTSPi ?’ Md rf * e sa ^“ 

2rani, Japan’s minister of heahh^w ““*? msnrance money it 

welfare, the post office isaiS2? 5^ m u °n to the Finance 
nautthreatenSJtostran^^^: Sf 7 ’ W J“?. S 5 ^ ll for ^ 

try’s private facial fiT" feS .Tokyo after 

^achieve no.h.nr^L, 

homeowners. 


>lem," he has said, 
t Japanese consider 


the MttoffioT a eS**"*" “*The postal system is a symbol of 
tne post omoe a cultural icon, a Japanese historv and socdetv " said 

of m, an old 


ian of S2 tnUion in savings and $800 But Mr. Koizumi, 52, is a hairi- 

buuonrn life insurance policies, the hearted realist. “Tunes are differ- 
I fi lso mono- ent," he said. “Japan was poor back 

***** Otans as Bank then, and the economy was still 
ofToky o-Mi tsu bis hi Ltd., Citibank weak. Private financial institutions 
and Deatsche Bank AG. were still nndevdo~»H unri th* 


and so the 


In arecent poll by the paper Asahi post office had a roteto play.’* 
Shimbnn, more than half of those , Its role is still extensive. ■ Postal 
surveyed were opposed to privatiz- savings represented about 45 per- 
■ mg tee post office, and Mr. Ko- cent of all deposits at the end of last 
mum’s office has received a flood of year and have probably climbed 
letters pleading with him to stop the even higher, as banir customers and 


campaign. 


investors move money out of scan- 


But with Japan’s economy strug- dal-ridden securities fi r m s and 
gling again, weighed down by bad banks laden with bad loans. 


debts held by b anks and other fi- 
nancial institutions, such opposition 


Local postmasters, whose jobs 
are hereditary, have cultivated on- 


has not fazed Mr. Koizumi, a former rivaled grass-roots support through 
postal m i nister . So passionate is he community service, 
about privatization that be ' has They lend that support to the Lib- 
threatened to resign if Prime Min- eral Democratic Party, long the rul- 
ister Ryu taro Hashimoto fails to ing party here. In some districts, 
back him. postmasters round up more than 

Tokyo is scheduled to announce 4,000 new party members a year, by 
its decision on the privatization as some estimates, although as gov- 


soon as Wednesday. 


eminent workers they are barred 


Mr. Koizumi’s point: allowing a from o fficial political activity, 
public financial institution — one The Ministry of Posts and Tele- 
that is protected by and part of the communications refused to coin- 
government — to compete with ment because of the government’s 
mtv ate banks that do not enjoy such 
favored status is not at all the free 

SSESSB“ 0, “ China Cites Firms 

"Japan is being drawn into global p p » , p . 

rorapetition,” he said. “I doubt EOT faulty EOTeCOStS 
whether one can truly cany out 

neaningful reform, if we leave in- Raaers 

act a national bank that operates SHANGHAI — China took a rare 
ratside the market economy." step Tuesday of publicly censuring 

In many ways, privatizing the some of its liked companies for mak- 
xwtal system is being seen as a litmus ing unrealistic profit forecasts and not 

est of Mr. Hashimoto’s resolve to giving shareholders a fair view of 
educe government influence and unr why earnings failed to measure up. 

eash market forces on Japan’s econ- The move was seen as a warning to 

>my. Without at least a modest step in those companies with a listing as well 

hat direction, some say, Tokyo will asthose aspiring to sell shares as China 

vever rival London and New York as moves to expand its stock market 

. global financial coital The companies included paint pro- 

* ‘Politically, privatization is dif- ducer Wuhan Twin Tigers Coatings, 

icult, but it is important that the garment makers Beijing Zhongyan 
lashimoto administration make it Tango Down Products and Hangzhou 

tear that the Japanese government Kaidi, retailer Shandong Huanyu 

vill privatize the postal savings sys- Group, restaurant and hotels firm 

'em in the long run, if not right Shiji a z huang Quanye Chang, drug- 
way,” said Heizo Takenaka, a pro- mate Northeast Pharmaceuticals, 

essor of economics at Keio Uni- paper mate Huaya Paper, and medi- 
ersity. cine producer Heng Yang MedicaL 

The system began in 1875 as a • 


ASIA/PACIFIC 


A Built-In Advantage 

Helped by certain tax breaks, Japan's postal bank is able to pay rts 
depositors higher interest rates than commercial barites. 

Total deposits in Japan’s commercial Interest rata paid on a 10-year 
banks and the postal system, for certificate of deposit earning 2.45 

fiscal years ended in March percent if it is withdrawn in the first... 

$3.0 trillion 6 months- j «o * & banks 

1 year 18551 M postal 

1 < 1 . SYSTEM 

I “ banks Second SB a»» 

V year MM 




I^enLltisvhal.he^tolit 
run Brands for elderiy vridcnvs^fiDcl “ * mmonal 

OT " Bmif anyone has reason to feel 
a? warm and frizzy about tee postal 

?, e system, his Mr. Koizumi hhnsell In 

caUjjgAepostoffice a troublesome tee 1930s, his gnmdfiMfaer.Maiajiro, 
aMctamsmismeeting with fierce was head of what is now the Min- 

« isby of Posts and Telecommuni- 

For the Japanese Dost office a,-. 



Fourth 

year 


1 1 1 1 I 1 1 1 r T r 11 ' [ 1 Sixth 
■85 '90 *95 year 

Sourcos: Bank at Japan; Mamattanaf Monetary Find 


wmMBtM 


. 1 . 2 . 0 %' 

1 . 20 % 


pending decision on whether to 
privatize. 

The extent of the post office’s 
influence can be measured by how 
quickly the government rejected the 
recommendations of tee group it 
appointed to come up with ways to 
overhaul tee Japanese bureaucracy. 

In September, the Administrative 
Reform Council suggested privat- 
izing first postal insurance and then 
postal savings, but this idea was 
given a quick heave-ho by Mr. Ha- 
shimoto and his cabinet. 

It was then that Mr. Koizumi 
made his threat to resign, setting off 
a “will he or won't he” debate that 
has been miming ever since. 

Japanese cabinet ministers resign 
over scandals, not policy. But Mr. 
Koizumi is not an average cabinet 
minister. 

He has refused tee roughly 
$2,400 monthly stipend given to 
those who have served in Parliament 
for 25 years, saying be could not 
accept such a payment when tee 
national deficit is so high. He also 
has refused to have his portrait 
painted, saving tee Finance Min- 
istry nearly $8,000. 

“I don’t think I am odd,” Mr. 
Koizumi said. ‘ ‘The politics here are 
what is odd.” 

But change could come unaided. 


though. Some economists say de- 
regulating private-sector financial 
services win make them so attract- 
ive that the Japanese will take their 
tnooey out of the post office without 
privatization. “By the year 2010, 
tee postal savings system will be 
privatized, either by law or simply 
by circumstance,' ’ said Jesper Kolt 
head of research at J.P. Morgan 
Securities Asia Ltd. 

But Japanese bankers are not at 
all sure. The post office enjoys so 
many hidden subsidies, they say, 
that even with deregulation, they 
will be unable to compete with it if it 
retains government sponsorship. 
“All we want is a level playing 
field,” a Japanese banker said. 
“They’re playing the game under a 
different set of rules.” 

A report by tee International Mon- 
etary Fund suggests a step-by-step 
privatization of postal financial ser- 
vices, perhaps by region, along with 
lowering interest rates and making 
tee system’s subsidies more visible. 

Changes like those would put 
postal savings “on a more equal 
footing with the private banking 
sector,” tee report said. “Such a 
development would represent a sig- 
nificant step toward establishing a 
more dynamic and competitive fi- 
nancial system in Japan.” 


Tokyo Stocks 
Rise Again, 
Led by Banks 


By Stephanie Strom 

New York Times Serxice 

TOKYO — Japanese stocks rose 
for a second day Tuesday as Prime 
Minister Ryu taro Hashimoto sug- 
gested the government may use pub- 
lic money to aid troubled banks. 

The government also released yet 
another package of measures inten- 
ded to jump-start Japan's flagging 
economy but conceded ft would 
bring little relief any time soot. Many 
of the government's plans, which had 
both pump-priming and deregnlarory 
elements, have already been floated 
by the ruling liberal Democratic 
Party, and the bold jolt for the econ- 
omy that sonK economists bad been 
hoping for was absent. 

Mr. Hashimoto hinted that the 
government’s decision to use public 
funds as a bridge loan to stabilize 
Hokkaido Taknshoku Bank Ltd., 
which failed on Monday, was not 
just a one-time decision. Hokkaido 
Bank’s operations will be handed 
over to North Pacific Bank Lid. 

Tie suggestion that public funds 
might become a major tool to bail- 
out Japan's weak banking system 
helped push the Nikkei Stock Index 
up almost 3 percent to close at 
16,726.57. Shares in banking 
companies led tee rise. 

Analysts were skeptical of tee 
recovery plans tee government an- 
nounced Tuesday. 

“I would describe this as long on 
items and short on specificity, with 
medium- to long-term intentions 
that fall far short of correcting the 
emergency situation we're in now 
any time soon,” said Mineko Sa- 
saki-Smite, an economist at Credit 
Suisse First Boston. 

The package contained 120 dif- 
ferent measures, including moves 
designed to coax tee private sector 
into financing infra structure and 
measures aimed at revitalizing tee 
moribund property market 

“The problem is teat all of these 
changes had been promised last 
spring, and now they' won’t be ef- 
fective until the first of April.’ ’ said 
Jesper Koll, head of research at J. P. 
Morgan Securities Asia Ltd. 


HaogSeng 
16500— yh- 
15000*// I* 
13500" ' ' 

12000 

10500 

9000 . v c 


M5L: .. ?; 

2150 -' 21500 - ---- 

2000 5 »-W--t — ' 20000^V\r- 

1850 185“ - ■ 

1700 hr: 17000 X 

1550 f-v 15500 -4' 


J J A SON 
1997 


J J A SON 
1997 


J J A SON 
1997 


Exchange :-%T uesdey Pm. ' • ■ ■% . . 

; •• ■' ■ «' - j v. £ : i " '•'dOStf " CW*'':: 'Change 

HarigKwg ',*1^ Sprig:/;, -1,68 


1*Kyc» / ■ -wa»ei2as. : . 

; -622<09 667,29 -6.77 


Sewn.- " Composite Index „ 49M6 496:S» - -0471 


.Hants,-..:... • pee;.. : ' 1^?7.7S : xm&7 . -9.76 

SSarti". * ' • Composite Ind^c 434Jtt‘ 439:64 

«zse-4<r ; . ^smjss ftswax?- -0.48 


Source: Tetekurs Mcnuunal HcnU TrflHJoe 

Very briefly: 

• Singapore, hoping to steady its declining residential prop- 
erty market, will reduce tee amount of land ft sells for new 
housing because of excess domestic supply. 

• Tokyo prosecutors indicted Daiwa Securities Co. and three 
executives on charges they paid off a corporate racketeer. The 
three were Nobuhiro Kaneda, former head of tee brokerage's 
equity department; Naoyoshi Kite, former manager of the 
general affairs department, and Yasuo Texashima, former 
head of the general affairs depanmenL 

• The Philippines says export growth strongly outpaced 
import growth in September, helping its trade deficit narrow in 
the first nine months of 1997 to $8,298 billion (281.7 billion 
pesos! from $9,212 billion a year earlier. 

• Mitsubishi Corp. cut its group current, or pretax, profit 
forecast for the year ending March 31 by 9 percent amid a 
slowdown in exports to Southeast Asia. It will probably report 
pretax profit of 1 10 billion yen ($876 million) for tee year to 
March 31. 

• Nissan Motor Co. is studying tee idea of combining tee 
same basic platform of the popular Altiraa and Maxima 
models for possible use in a redesigned model in several years. 
Combining the platforms of tee Altima and tee more ex- 
pensive and slightly bigger Maxima, may mean increased 
production for Nissan's plant in Smyrna, Tennessee. 

• Malaysia has detained 6,000 Indonesians for not having 

woik permits. The workers were being held at eight im- 
migration detention centers and would be tried before being 
Sent home. Reuters. Bloomberg, AP. AFP 


Citicorp Pursues Purchase of Thai Bank 


Coupileibj Our Slqff From DbpoKka 

BANGKOK — Citicorp’s Citibank 
unit is negotiating to buy First Bangkok 
City Bank PCL, undeterred by tee debt 
problems teal have ravaged Thailand’s 
financial industry, a spokeswomen for tee 
Thai bank said Tuesday. 

A deal could come by the end of the 
year, the spokeswoman said. Citibank 
officials declined to comment 

A deal would mark tee first foreign 
purchase of a majority stake in a Thai 
commercial bank since financial reg- 
ulators recently liberalized rules that had 
limited overseas ownership of financial 
institutions to 25 percent At the end of 
October, Bangkok Investment PCL, an 
insolvent finance company, said that a 
unit of American International Group 
Inc. had agreed to take an 80 percent 
stake in it for about $25 million. 

Thailand had jealously guarded its fi- 
nancial institutions against foreign 


takeovers or ownership, but the banking 
and finance sector is in deep trouble 
because of bad loans, extended chiefly to 
property developers. Virtually all Thai 
banks reported either losses or sharply 
declining profits when announcing thud- 
quarter results Monday. 

The government was forced to shut 58 
nearly insolvent finance companies 
earlier this year as part of a $17.2 billion 
bailout package put together by the In- 
ternational Monetary Fund. 

With hanks and finance companies 
experiencing liquidity problems, tee 
government of ronner Prime Minister 
Chaovalit Yongchaiynt was forced to 
relax foreign ownership rules. 

Foreign concerns can now own 100 
percent of Thai financial institutions for a 
10-year period before tee stake is gradu- 
ally diluted by further capital increases. 

The deal announced Tuesday suggests 
that for tee banks involved, tee oppor- 


tunity to invest in Thailand’s financial 
industry at cut-rate prices outweighs 
concerns about banks' and finance 
companies' mounting liabilities. Stan- 
dard Chartered PLC, a British bank, was 
also reported to be linked to tee deal and 
negotiating for a minority stake. 

First Bangkok is controlled by Char- 
oen S iri wattanapakdi, who holds a vir- 
tual monopoly, through state-granted li- 
censes, on the distillation and 
distribution of liquor in Thailand. 

First Bangkok had assets of 252 bil- 
lion baht ($6.57 billion) and deposits of 
178 billion baht as of June 30. 

Citibank, like all foreign-owned 
banks in Thailand, is limited to a single 
branch, thoagh it also has a limited- 
service offshore branch. Citibank has 
had more success than other foreign 
banks in developing retail services. Its 
credit card is among the country’s most 
widely issued. ( Bloomberg, AP) 


U.S. Pop Idol Scouts 
South Korea Resort 

CrmrMbyOm SnffFnm Dapawha 

SEOUL — The American pop icon 
Michael Jackson is talking to South 
Korea’s cash-strapped Ssang Bang 
Wool Group about taking over its 
local ski resort 

Mr. Jackson flew to Korea on Tues- 
day and headed for the Muju ski resort 
for a feasibility study, said Lee Ki 
Bom, a spokesman for the group. 

“Michael Jackson has shown keen 
interest in tee ski resort since the 
group last month expressed its in- 
tention to allow foreign funds into our 
units,” Mr. Lee said. "I believe se- 
rious talks are under way.” 

The Muju resort which is about 
300 kilometers (185 miles) south of 
Seoul, is valued at 1.2 trillion won 
($1.2 billion), tee company 
said. (Bloomberg, Reuters) 


MALAYSIA: Investors Bail Out After Opaque Deal Between Two Related Firms 


Continued from Page 15 

engineers broke the rules of the stock 
xchange which stipulate that share - 
olders should make a declaration 
ach time they accumulate more than 
percent of a company. 

“It’s a total breakdown in regu- 
ations,” he added 
Analysts said the losers in tee deal 
irere small shareholders of United 
ingmeers: The company’s stock foil 
8 percent, to 3.86 ringgit Renong 


dropped 20 percent, to 231 ringgit 
Neither Mr. Halim nor officials at 
United Engineers and Renong were 
available for comment Mr. Halim is 
believed to own more than 20 percent 
of the company. 

“At tee end of tee day, investors in 
the government’s savings schemes 
will be forced to bail out everyone,” 
said an economist in Singapore who, 
like almost interviewed for this ar- 
ticle, did not want to be identified by 

name . 


The move “is seen as a bailout for ■ 
large Renong shareholders,” Inter- 
Pacific Capital Sdn. said in a report 
'issued Tuesday. At least two research 
firms who HpHinpH to be identified 
said they had downgraded their rat- 
ings on United Engineers from buy to 
sell 

Analysts were also puzzled by tee 
business logic of deal. 

“To buy shares of a debt-ridden 
company at tee time when interest 
rates are rising is unquestionably a 


witless investment move,” Inter-Pa- 
cific Capital Sdn. said in a report 
Tuesday, adding that Renong's debt 
was at least 3 billion ringgit 
After years of an investment boom, 
many Malaysian companies are 
highly leveraged A recent report by i 
tee Standard & Poor’s Coro, rating 
agency estimated total credit to the 
private sector at 170 percent of the 
country’s gross domestic product | 
Companies are also starting to feel the 
effect of the regional currency crisis. 


The Living Legend 


TIMES: Newsroom Walls 9 Fall in Los Angeles 


n effect, become ^Wideas persuade tee paper to publish favorable : news 

♦livers support his efforts to articles about them or modify or kill un- 

to by some tf the finable article,. 


Continued from Page 15 criticism — “someof it’s ben kind of mean,” 

he said — but insists that the critics do not 
reakinc even not so much by cutting costs understand that by assigning business man- 
. u t by growing the readership,'’ Mr. Paries ageis to work with section editors, tee business 
aid “So our focus in editorial is to get more staff will be forced to think more closely about 
saders into tee paper, and it’s tee task of what reporters and editors are trying to do and 
dvertisinn to get more advertisers into it.” to find ways to make those ideas pay, both in 
Mr Wdles acknowledges tee history of increased advertising and readership, 
loofaess, and even hostility, of reporters and “The power of what we’re saying is. if you 

riirnrs toward the business people who man- have editonal-side people saying, Here s a 
2??!S?sfKl ' health. nice editorial idea and Thet advertising could 

Kutheinsists that the jurisdictional walls sell ads to help pay for tee news hole,’ you 
the two sides can be tom down now have somebody on tee other side saying. 
^H^cSSra^mising the independence of teat’s tee editorial idea, how can we 

not only sen adverting to pay toft, but is 
“I don’t think there is a fundamental prob- there a way to use this idea to attract more 
saving that ideas ought to be coming from readers to the newspaper?’ ” 

^business side and Ibo editorial side,” Mr. Bill Sing, tb= business edator. believes the 
i-ii/ccoid in an interview. * ‘Having said that, answer is yes. Over the last few years, even 
l^dbesinwised and disappointed if most before Mr. Willes became tee publisher, Mr. 

bu5in<!SS Sing’s ^on^t^ on themes formost 
■* ,ac " days oftbe week — technology on Mondays, 

iC Th<. sections teat have been jointly de- advertising and mating on Tuesday, smaU 
The secn(M» bnsiness and news businesses on Wednesday, and so on — and 

eloped so off w ^h ^ adver- each has attracted fresh advertising needed to 

epartments i na p*** ^ die pay for more pages of news, 

ismg. But businesTside as a Mr. Sing noted teat Monday’s business 

king “““Pr LSI nchend. They fear teathis section had grown to 11 pages from 4 because 
otentiallydangerouA ^ more: computer advertisers were attracted to 

-Ian may crcJ * te “Jf. t he twice of an ad. the section’s technology theme, while Tues- 

rtictes can be bought increase day’s section bad grown to 22 pages from 8. 

-Mark Willes has ^ “fofois business yon may have an idea, but if 

ynicism about the news n Bag difcian, a you don’t have advertising support for it you 

erson in the industry, -diinr ai The wouldn’t get the space or anything,” he said, 

ormer assistant kwnialism at the The connection between advertising and 

Vashington Post and o&n ow * ■ news is exactly what troubles critics of Mr. 

Jniveisity of California Willes. He and his top executives insist, 

_ itfATTV DXul IT m* • - * - mS — — La aLIa 


WORLD BALANCED FUND 

HCAV 

2, boulevard Royal, 

Luxembourg 


NOTICE 


Notice is hereby given that an Extraordinary General 
Meeting of shareholders shall be held at 69 route tfEsch, 
Luxembourg on 28 ih November, 1997 at 10:00 a.m. for 
the purpose of considering the following agenda: 

1. To receive the report of the auditor to the 
liquidation; 

2. To grant discharge to the liquidator and the auditor 
of the^ liquidation, 

3. To grant discharge to the directors in office until 
the date of liquidation. 

To decide to close the liquidation, 

5. To keep ail books and documents of the Fund for a 
period of 5 years at the offices of Banqne 
Internationale a Luxembourg SwA; 

6. To note that liquidation proceeds which have not 
been distributed will be transferred to (he Caisse des 
Depots ft Consignations to be held for (be benefit of 
the persons entitled thereto; 

Shareholders are advised that at this Meeting no quorum is 
required and the decision will be passed by a simple 
majority of the shares represented at the Meeting. 

Proxy forms are available at 69, route d’Esch. L-2953 
Luxembourg. 

In order to be valid proxies duly executed by shareholder* 
should be mailed to Banquc Internationale k Luxembourg, 
gtl: Mrs. DuponL, 69, route d*Esch, L-2953 Luxembourg so 
as to be received the business day preceding the Meeting at 
5i00 pm at the latest. 

By order of the Liquidator 



jflclRd 


gerald genla 


19, rue de Saint-Jean - case postale 120, CH-121 1 GENfcVE 18 
T*L(41 ) 22 344 87 20 - Fix (41 ) 22 345 14 SS 





































































































































































































Hxralb^^fe.Srib uue 

Sports 


WEDNESDAY, NOVEMBER 19, 1997 


World Roundup 


Pakistan Takes Lead 

cncKET Saeed Anwar and Ijaz 
Ahmed added 133 runs together on 
Tuesday as Pakistan took control of 
the first test against West Indies In 
Peshawar. 

Anwar and Ahmed scored 65 
apiece as Pakistan ended the second 
day at 246 runs for five wickets in 
reply to the West Indies first in- 
nings total of 151. (Reuters) 

Barn Morris Charged 

_ docket Bam Morris, the Bal- 
timore Raven running back, has 
been charged with choking a wom- 
an at a birthday party. Morris' is on 
probation for a drug conviction in 
Texas. 

The party was given by the family 
of a Raven tackle. Orlando Brown, 
at a Baltimore County banquet halL 

• Roy Taipley, whose problems 
with drugs ended his NBA career, 
was arrested on charges that he 
burned a woman’s stomach with a 
clothes iron after an argument 

Taipley, 32, a farmer forward of 
the Dallas Mavericks, was being 
held Tuesday on $500 bond for the 
domestic violence charge. He also 
faced several outstanding warrants 
for an unpaid $105 speeding ticket 

• Sentencing was postponed 
Tuesday for Cornelius Bennett the 
Atlanta Falcon linebacker who 
pleaded guilty in September to a 
sexual misconduct charge. 

Judge Robert Russell set a new 
date for Feb. 10 because he wanted 
to review the victim's medical bills 
and other expenses. Bennett could 
face up to a year in jail. 

Bennett’s accuser is a woman he 
has known for several years. Au- 
thorities said the incident took place 
in a Buffalo hotel room. (AP) 


soccer Real Madrid kept pace 
with Spanish league leaders Bar- 
celona with a 3- 1 victory over strug- 
gling Valladolid. Predrag Mi- 
jatovic, who had four goals for 
Yugoslavia on Saturday, scored the 
first goal MondaynighL (Reuters) 

Lemieux Joins the Best 

HOCKEY Mario Lemieux has 
been inducted into the Hockey Hall 
of Fame. He said afterward that he 
would not play for Canada in the 
Winter Olympics in February. 

Lemieux, 32, led Pittsburgh to the 
Stanley Cup in 1991 and 1992. He is 
only the ninth player to be inducted 
into the Hall without the usual three- 
year wait A former New York Is- 
lander, Bryan lYottier, and the Ed- 
monton president, Glen Sather, were 
also inducted Monday. (AP) 

Ex-Chief Is Killed 

football Aaron Brown, a start- 
ing defensive end on the Super 
Bowl-winning Kansas City Chiefs 
in 1970,died when he was struck by 
a car while walking on a Houston 
street Brown, who would have 
been 54 on Sunday, was wearing 
his Super Bowl ring. (AP) 



Showdown in Tehran, 
With World as Prize 

Aussies First Play in Soccer Fortress, 
Worst Place to Be’ on Short Notice 


By Rob Hughes 

International Herald Tribune 


L ONDON — Forget Baghdad, 
mate, fen- an Australian soccer 
player there is no less hospitable 
place an the planet than Tehran. 

The Socceroos always draw the 
shortest straw m route to World Cups. In 
1994, they had to travel to Buenos Aires, 
to take on Argentina in a two-match 
playoff fix' the last place in that World 
Cup; the Anssies lost, 2-1. Now. with 3 1 
of the 32 slots decided, Australia has a 
home and away mission against Iran, 
starting Saturday in the Middle East 
You wouldn’t c ommi t your worst en- 
emy to such a task. Iran is smarting from 
defeat against Japan last weekend. Its 


WoilbSoccik 


players are living with die ire of theh- 
pecrple and their government And Iran, 
with 120,000 zealous fanatics shouting 
at them, or for them in the cavernous 
Azadi stadium is going to be a tongh 
away match for Australia. 

Australia must be strong. Its players, 
are gathering in Dubai from their vari- 
ous clubs across Europe, Asia and Aus- 
tralia are known for strength of mind 
and physical running. They are not, or 
have not up to now, been giants of 
soccer technique or strategic p lanning . 
They just give it a go. First of all, they 
are giving it the verbals. 

‘‘I couldn’t think of a worse place to 
be given at short notice,” said Dave 
Hill, Australia’s soccer federation pres- 
ident, about the visit to Tehran. ‘Its a 
logistical nightmare.” 

Subtle, Mr Hill, and diplomatic, too. 
The Socceroos have compounded any 
ill-will by laying on a chartered jet to fly 
the players out of Tehran at die earliest 
hour once Saturday’s game is finis hed. 

One reason for that is that the second 
leg is scheduled for Nov. 29. Some 
45,000 Australian fans have already 
bought their tickets for die match at tire 
Melbourne Cricket Ground. 

Day by day, however, the odds move 
Iran's way. FIFA, the governing body of 
world soccer, indicated Tuesday that 
there would be an amnesty for four ba- 
nians who have one yellow card against 
them and would otherwise play in fear of 
a second, and thus suspension, this week- 
end. “An amnesty would seem the fairest 
way,” said SeppBlatter, FIFA’s general 
secretary, “because Iran has played 14 
games in the qualifying tournament 
already, compared to Australia’s six.” 

There will be no leniency for Karim 
Bagheri, the one banian who already 
has two yellow cards and will be sus- 
pended from Saturday’s match. He 
might consider himself lucky, far die 
pressures are mounting on those Ira- 
nians who will play. 

The banian players had qualification 
in the palm of their hands back in October 
when they crushed China, 4-1, fin a 
second straight three-goal home victory, 
having two weeks earlier destroyed 
Qatar. Iran looked set for the finals. 


Maybe its players were guilty of 
thinking that too. Maybe they expected 
to squash Kuwait, thepoorest team in tibe 
group, in Tehran, b never happened; fran 
didn’t lose (does it ever at home?), but it 
didn’t score, and for three disastrous 
ggmftg this barrenness continued, cul- 
minating in a 2-0 defeat in Qatar. 

Its star forwards had frozen. 
KhnAnfad Arizi, the Asian player of 
1996, had moved to FC Koln, and 
Karim Bagheri and Ali Daei had fol- 
lowed to another Bondesliga team, 
Arminia Bielefield. 

“Iran is the place to buy for value for 
money,” said Rudiger I anm, the 
Bieiefield general manager. “These 
forwards are such good talents, it's hard 
to understand why they are not one of 
tire top natinnal teams in their region.” 

Their heads were turned by foreign 
riches, suspect some of their country- 
men. Midway through the qualifying 
campaign, Ali Daei fell out with the 
national coach, Mohamed Mayeli Ko- 
han, with such vehemence that the coach 
dropped him. The story goes dial he was 
recalled by internet — that so many fans 
flooded toe web with demands for his 
return that the coach was undermined. 

Kohan was sacked after the Qatar de- 
bacle, replaced by Vlariir Vieira, a 
Brazilian. Vkna recalled the goal ma- 
chine and Dad scared against Japan last 
week. Alas, the power up front was be- 
trayed by nervousness b ehind, and Japan 
took fa”* “sudden death” qualifier, 3-2. 

So fran faces the last back door to the 
World Cup. Australia’s players, 
coached by Terry Venables, the wiliest 
of Englishm en, are talking about Iran’s 
leaky defense, its potent forwards. If 
they believe it is so, they will go on the 
attack in the cauldron on Saturday. 

B ut Australia has only a matter of days 
to create unity out of a disparate band of 
players of Yugoslav, Greek and other 
ethnic backgrounds who mostly earn 

their keep in fo reig n climes. Three of the 

likely starting 11 play for Portsmouth, 
fa« English Rrst Division club Venables 
owns and runs. It is an incestuous pact 
saving nobody, for Portsmouth has 
suffered wretched form. 

Some blame Venables, for his split 
loyalties. Some think the Australians are 
not good enough, not committed enough. 
But sane blame the Jamaicans! 

Jamaica, under its own Brazilian 
coach, has been searching through fam- 
ily trees, after finding that half a dozen 
players of Portsmouth past and present 
have Caribbean blood. Jamaica has 
qualified, and P. J. Patterson, the prime 
minister, declared that My Land is Your 
Land, and these English Reggae Boyz 
who never before considered Jamaica 
home are^suddeniy ^land owners, wrtl^a 

One wonders what prize, or what pun- 
ishment, awaits the Socceroos, or indeed 
tire Iranians, when the final whistle is 
blown on World Cup qualifying. 


Rob Hughes is on the staff of The 
Times of London 




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VENICE FARE WELL — The coffin of the soccer coach Helenio Herrera being carried on a gondola Tuesday 
during his funeral in Venice. It is draped with the flags of dubs be coached, inchidmg Barcelona and Inter Milan. 


Surprise Endings in Women’s Tennis 


By Robin Finn 

New York Times Service 

NEW YORK — The Chase Cham- 
pionships, the year-ending competition 
that brings the top 16 players in women’s 
tennis to Madison Square Garden to ap- 
point a world champion, got under way 
with an upset of fee fourth-seeded 
Amanda Coetzer, a re-emergence by the 
injury-plagued Mary Pierce and a segue 
into early retirement tty fee doubles spe- 
cialist Gigi Fernandez. 

Coetzer, the South African dynamo 
who scored upsets this year against Stef- 
fi Graf, fee former No. 1, and Martina 
Hing is, the current No. 1, learned about 
life on the other side She was thumped 
Monday night. 6-3, 6-3, by the 30-year- 
old Nathalie Tauziat of France. 


While Coetzer appeared weary. Pierce 

was fierce from fee baseline and, sur- 
prisingly, attacked fee net at fee right 
HmM to clobber Sabine Appelmans, fee 
I7th-ranked Belgian, 6-3. 64, in a mat- 
ter of 65 lopsided minutes. 

‘ ‘She’s reeling the net more; there are 
inkling that she might be bringing her 
game to another level,” said Pierce’s 
coach, Craig Kardon, who had ample 
experience at that other level when he 
coached the net-minded Martina Nav- 
ratilova. 

In the night’s final match, the eighth- 
seeded Irina Spiriea of Romania de- 
feated Sandrine Testud of France, 6-3. 
5-7,64. 

These champi onships began wife an 
ending as Fernandez; 33, who accu- 
mulated 17 Grand Slam titles and two 


Olympic gold medals in fee course of a 
15-year career, made her planned re- 
tirement official after a first-round loss 
in fee evening’s first match. 

“I would have preferred to have won 
the tournament and go out wife a win,” 
EemaqHez -mid after she and her lo ngtime 

doubles partner, Natasha Zvereva, were 
upset, 7-5, 3-6, 64, by another veteran 
duo, Helena Sokova and Larisa Neiland. 
“But it's the right decision for me.” 

Fernandez had already decided to 
make 1997 her last year of singles com- 
petition, but she said the death of Diana, 
Princess of Wales, caused her to “stop 
waffling” about whether to quit tennis 
altogether. She said that lo years of 
competition and travel had famed her 
into a nomad wife no home base and 
insufficient leisure time wife her family. 


Woods Overtakes Els in Match of Golfs Champs 


By Jack Cavanaugh 

New York Times Service 


POIPU, Hawaii — Players on the 
PGA Tour call it fee silly season — fee 
period between the year’s last official 
tournament in early November and the 
beginning of fee next season in January. 

They are referring to fee string of big- 
money events through December, when 
some professionals have been known to 
earn more money than they did for the 
entire year on the tour. 

But there is hardly anything silly 
about the Si million in prize money at 


fee MasterCard PGA Grand Slam, 
which is open only to fee players who 
won the year’s four major tournaments. 

This two-day stroke-play event, 
which will pay $400,000 to fee winner, 
began Monday at the Poipu Bay Resort 
Golf Course wife Tiger Woods, fee 
Masters champion; Ernie Els, fee U.S. 
Open champion; Justin Leonard, the 
British Open winner, and Davis Love 
DI, who won the PGA Championship. 

Woods came fran two strokes bade 
after 13 holes Monday to overtake Els as 
he shot a six-under-par 66 and took a 
two-stroke lead at fee midway point of 


the 36-hole event Love was in third place 
wife a 71, fallowed by Leonard at 77. 

An eagle on the par-5 537-yard 14th . 
hole, where Woods followed a 343-yard 
drive with a 7-iron shot to within eight 
feet, brought him to within a stroke of • 
Els. After drawing even at No. 15, 
Woods took the lead when he birdied 
the 16th, which Els bogeyed. 

Els, the only player here to have qual- 
ified for this event before — he won the - 
U.S. Openin 1994, too — drew to within 
a stroke of Woods at No. 18 wifeabirdle, 
before the Masters champion ended his 
round wife his fifth birdie of the day. 


Scoreboard 


I BASKETBALL | 

NBA Stammnos 






JZJUUmCDtYWOrt 



W 

L 

Pd 

GB 

Mireni 

6 

3 

-667 

— 

Nor Yak 

6 

3 

467 

— 

New Juicy 

5 

3 

-625 

V4 

Oriantfo 

5 


Si 

T 

Boston 

4 

5 

M4 

2 

Wflshbylon 

4 

5 

M* 

2 

PMkxMpiila 

2 

4 

250 

3ft 

( 

zfifmAi. DnnroOM 



AUanJa 

10 

0 

TJOOO 

— 

Oioriotte 

5 

3 

jS2S 

4 

CUccgo 

6 

4 

400 

4 

MBwaokM 

5 

4 

.556 

4ft 

Oerekrod 

4 

5 

M* 

5ft 


4 

5 

444 

5ft 

Detroit 

4 

6 

M 

6 

Tororto 1 

6 

.til 

8 ft 

HOTTEST DtYtSHN 




W 

L 

Pd 

GB 

San Antonio 

6 

3 

467 

— 

Minnesota 

5 

3 

SS 

ft 

Utah 

5 

4 

.556 

1 

Vancouver 

4 

6 

,400 

2 ft 

Houston 

3 

5 

-575 

2 ft 

Dote 

3 

6 

2S3 

3 

Denver 

0 

8 

sm 

5ft 


p*enc Dtvtstott 



LA. Lnkets 

B 

0 

woo 

— 

Phoenta 

6 

1 

JSf 

1 ft 

Porttotd 

7 

2 

J1Z 

1 ft 

Senate 

7 

3 

-700 

2 

Socroroento 

2 

7 

372 

6 ft 

LACIppen 

1 

B 

.111 

/ft 

GddmStda 

0 

B 

JUO 

8 

HansytkunT 


Date 

10 

to 

18 19-73 

Porttaed 

29 

33 

JS 31 — 120 


D: Scott 5-16 W> 12. Fkifcy 4-11 W 11) P: 
Soborts 11-12 T-3 24, Oder 7-19 2-2 19. 
mumm -Pato 40 (Salt Whiter 71. 
Potato 67 (Grant IS. >4 

(Scott 4). Portend 36 CRkJer, Crotty 7). 


CE HOCKEY 


NHL Standings 



W 


T 

Pts 

GF 

GA 

rTMKJStoPpMW 

13 

4 

3 

29 

48 

51 

(fare Jenny 

14 

5 

0 

28 

40 

34 

Washington 

12 

7 

2 

26 

40 

48 

N.Y. Lslatdtre 

a 

a 

4 

20 

54 

50 

N.Y. Ranges 

6 

7 

7 

19 

51 

50 

QmLU 

V ion Ofl 

« 

9 

4 

16 

42 

57 

Toetoa Boy 

2 

14 

2 

6 

34 

72 

MORTHUST DIVBIOM 




w 

L 

T 

PIE 

OF 

GA 

Montreal 

14 

5 

2 

30 

71 

45 

Boston 

T 1 

7 

3 

25 

SS 

49 

Ottawa 

9 

» 

4 

22 

42 

57 

Prttatwigh 

9 

9 

4 

22 

59 

59 

Carolina 

8 

10 

3 

19 

58 

62 

Buffalo 

S 

10 

4 

14 

47 

41 


W L T Pb 6F C« 

15 5 2 32 72 47 

13 5 4 30 73 52 

12 4 4 28 70 55 

10 I 2 22 63 56 

7 12 2 16 40 55 

6 10 3 15 38 56 



MamI 
N.Y. Jets 
MewEngttnd 
Buffalo 
liMflanapafis 

Jod B wwWe 

Ptltatiregh 

TmtBM 

BaBtam 


EAST 

w L T Pet 
7 4 0 £36 

7 4 0 -X36 
i 5 0 its 

3 4 a ASS 

no o jm 

CENTRAL 

8 3 0 .727 
8 3 0 J27 
5 4 0 JSS 

4 6 1 .409 


PF PA 
236 199 
260 211 
261 192 
IQ 255 
105 296 

279 211. 
261 203 
226 21 * 
220 241 


dPCinnoM 

Denver 
KamsCHy 
SaatOe 
Oakland 
Son Diego 


3 8 0 .273 194 283 


9 2 0 .818 324 184 
8 3 0 .727 228 IB9 
6 5 0 .545 250 258 
4 7 0 .364 275 282 
4 7 0 364 215 289 


1 3 «-4 
• I 1-2 
let NM B-ASson L. 24 Porte* B- 
Khrbflch 7 (ACsorv Bow**) (pp). 1 O- 
YfaMn 7 {Kmvdtuk, McEcctwm) 4. B-* 
DWWo5 (Axctaat, Taytori & B- Donato 11 
(Sweeney) 34 Porte* O-Y 0 et*i & Shota m 
io* B- 6-7-3—16. 0- 13-8-10—30. Grata* 
B-Oafoo. O-Tupnott Rhode*. 

TtwpoBoy 0 4 1—1 

Mcntato 1 1 3—4 

W Porto* M-Reodtf 9 (Kotai Conan} 2 d 
Porto* M-RodnAy & WO. 34 Porto* T- 
Trem 1 (Pculbb Gross} 4. M-CononS (Katavt 
Bure) (pp). L M-Reedrt 10 (Kota Matson] 
(on). Shota on go* T- *5-12—2* M- 8-12- 
7—27. Gates: T-Sdmab. M-Thtaault 
SLlMfe 2 8 1-9 

Tfererta 1 8 1-2 

l3tPorio*SLrCmjrinrfl(L2.T^Ja!iBon 
4 Stem ) 3. SJJ-CarepboU S (Terete 
Rheoutw) 2d PbM Norn. 3d Porto* T- 
SuOvon 2 (Johnson, Sdneidre) 5. %JL- 
Modr^lfcSrets* goat SJ_- 12-5-5-22. 
T- 7.12-16-35. GooSes: SJ_-fifhr. T-Patrin. 
Etawrtsn Z I 4-3 

Pkoenta 1 4 1-6 

1 st Porto* E-Mtoan 6 (Antott, 
Kwatenho) (ppT.2, P-More2 Uarreey) 1 & 
Smyth 6 [McGSB* Brown) 2d Porto* P- 
Rmnfag ZWoonick) S E -Mironov 7 (Hutt*. 
Motion * P-Tkochofc 12 (RoonkX Javrty) 
(pp). 7, P-Nuramtoefl 4 (TkndKifc, Drake} 8 
PtnenkL Doan 1 (Stone* Riming) 3d 
P4rt**p.ToaW8 (More, KhablboM (ad. 
Shota on 90 * E- 7-16-3-20. P-lM 0.7—29. 
Codhta E- Joseph. P-Wtabflwdn. 


FOOTBALL 


NFL Stan Of mo*. 



Retd Madrid % Valladolid 1 
NTA t OT OO N. Barcelona 28 points; Roaj 

Madrid Z7) Cotta Vigo24f EsponyriSf Athfh 
oo Madrid Red Sodedad 22 MaBorca 2ft 
AMeOc BKna, Ortedo lfr Merida tSi 
Zaragoza, ted Bods 14 Drenfln Coruna. 
Corapottaki 1 % Racing Sanftmtat Tenerife 
12 ; Vahnda ll; VaBododd 9r Satamanoa 6 s 
Sporting G^onl. 


TENNIS 


MONOArWHEHranc 

RR8TROUW 

Mary Pierce C7L Fran* def. Stains Ap- 
pebnan% Btigfann.6-3.6-4 . . 

NafhoBeTaoziatFmnobde£.AinandaGo- 
•bET 6a Soffit) Africa 63, 6-3. ’ 

. Irtoo Sptrieo C5J, Romani* dot. SamMna 
Tesftft France. 6-3, 5-7, 6*4. 


TRANSITIONS 


major inwueart— m 
jutaoxA— Agreed to temnwItfaSS Joy Bed 
105 yuiui nl mc ti 


Boston— A greed to terns wflh RHP Bret ' 
Sabertngen on 1 -year contract 
NXnOMAL LEAGUB 

JuaxotiA— Agreed to terms wtth SS Joy Bed 
on S^eor contract 

atuwta— A greed to terms wflh SS Walt 
Wets: on Oyear contract 


EAST 

W L T Ptf . PF PA 
N.Y.Gtaota 7 4 0 436 211 200 

DoDao 6 5 0 .545 229 16B 

Washington 6 5 0 .545 217 169 

PtdkMMpNa 4 6 1 MB 180 224 

Arizona 2 9 0 .182 180 249 


Green Boy 8 3 0 J27 271 217 

Minnesota 8 3 0 J27 253 239 

Tampa Bay I 3 0 .727 235 179 

Detail 5 6 0 455 235 22ft 

CNrago 1 10 0 JOT J82 315 

WSNT 

x-S*Frandsco 10 1 0 3V> 278 139 

Careflna 5 6 0 AS IBS 214 

Nevt Orleans 4 7 0 364 151 225 

Afire* 3 8 0 273 216 292 

St. Louis 2 9 0 .182 192 265 

x-woti dhtatai tflto 
■BONMT 
Miami 3ft Botfato 13 


CRICKET 


TUESDAY MPEBHAWAR.MI3STAM 
West IreBes: 151 
Pakistan: 2*6-5 


WnONAL BASKETBALL A98OCW0TDN 
USA— Hoed Toronto F Popeye Jones 
SI 0000 tor commuting Hogront tool agatnst 
Boston G Ron Matter In o Nov. 14 gome: 
Fined the Porttond Z2-UM0 farrtota ttera by 
ptoyers mounting propre wearing of the i/nJ- 
torm, and C KeMn Cato and F Rraheed Wat- 
toce S&500 apiece far vtotafttg urtforra rule. 

Houston— Put F Charles Bartdey on injured 
Ostforcd InstS gooes far strained grain. 


HADOIIAL FOOTBALL LBAOUE 
AJHX0M*— Wrtmd RB Kevin Bouto 
mtawHA Ti R elea sed OB Erik Wtoretm. 
Shraed OB Eric Kresser and WR Mflw Jet*. 
Ins frets pradlae squad. Put RB Scotfle Gra- 
han an tajurad reserve. 
niDUUUPaus-waived QB Qno Tonotla ■ 
PCATTU-PutWR Brian Blades on Mured 
.ft* ■ 

NATIONAL HOCKEY LEAGUE 

tMTON-Aortgrert D Dean Chsynowettk 
ftllf Kfefc Nietort and C Shawn Bates to Prev- 
MenasAHL 

calsart— A ssigned LW Todd HtostAo to 
Saint John, AHL Reeafled C Eric Urefcy, D 
Eric Charran and RW Ladtatov Kahn from 
SatrdJotm. 

CAMUKA-Rrarted D Sergej Fedotov- 
from RkJmond, ECHL 
DAUAS-Recafled G Manny Feraandra 
and F Jsha Lfcid tom MkMgav IHL. Put G 
Roman Tarek on injured reserve. Sent F 
Janie WrighttoAUrtogan. 

aoWBA-Traded LW One Lowty end ■ 
1998 Isj-reond tknfl pid: to Son Jose for LW ■ 
VBriDrKfizmt 1998 SIlHBand draft ptefa 
US MCELES— Traded RW end Smyth to 
N.Y. Rangers tor amdUtonal draft pick. 

mr jersey— R eofled LW Jay PandoHo ■ 
ten Albany. AHL , 

H.Y. SUMoao-Reodfed D Jason Hoi- 
land tarn Kerducky, AHL 
».r. MMCExs-Aaiiririd RW Brad Smyth 
ten Los Angelas for future consUreoKgnL 
TAMM boy— R ocoBed LW Lome DoBnak 
taro San Antonia IHL 


D5TA— Nemod Pole Sampnia Mlc 

amg.lbddMiiritoandAlnO'Brientoi 
Jam Bfottanrev Magnu Lmeatv Tha 

Enqvtat end NMte KnU tarn Swede 

Davie Cep ttord an Nov. 2830 in Swedes 


amaheim— S igned RHP KretHOtoS^ear 
CTrtnxf trim 1 -year option. ■ 


ATUW1W C8MY8AZ. FOOTBALL O 

nKB-Ataowic rel hnw alfan at twy 

w* manazn CnowtpL Femipt. Fn 

Sfife Mctoodtat Sdsbay stale and \ 
uutu-plsaitaeed sophomore c 

Jotaeon ten mem UsketboB w. 
tdafing toom acadenrie rales, 
““» a ™ SETT s-*™9one«l fesfc 
of MlteHodg* toefaafl oeadL 
- MBHBWPI state— S igned Jodkto! 

faallwflcoaclito4-yBeroonh iKJa(l p 

TEMFU-AimamoH] the raj—, 

RonDhtanrevtoatogncoach.^^ 

















INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, NOVEMBER 19, 1997 


PAGE 23 


SPORTS 


n Arizona Digs Deep 
To Sign a Shortstop 

On Eve of the Expansion Draft, 

, Bell Gets $34 Million for 5 Years 







W»W»rn\ Tt 


Ufih h 


1 PHOENIX, Anzona — Putting their 
I money where their mouth is, the Ari- 
I zona Diamondbacks signed an expens- 

■ ive free agent on the eve of basebairs 

« expansion draft 

41 The Diamondbacks not only kept 
i their promise that they would be ag- 
gressrve in the firee-agent market but 
4 they also confirmed the worst fears of 

( the established clubs by giving 
shortstop Jay Bell a five-year contract 
for $34 million. 

■“For what?” Bob Watson, the New 
Yd* Yankees’ general m 
^ponded incredulously at the numbers 
The had just been told. “You’re kid- 
^ ding." 

AndJhCTgeittra] manager called the 

►H who at $€.8 million instantly 

R| 3Br mademe sport's top 25 in average an- 
kalB nuaXWary, became the first major 
lcaffl^rsigned by the Diamondbacks, 
ajPIpB whose&wner, Jerry Colangelo, has long 

signa^khis intent to sign free agents to 
JpS’lH makeWeCesun competitive as quickly as 

1 MP3 possible. 

Introducing Bell at a news conference 
v^]gj ori^mally scheduled to discuss the ex- 
ftXJI paifflon draft for the Diamondbacks and 
theT$mpa Bay Devil Rays, Colangelo 
jajjM spoke pointedly when be was asked if he 
■MwB was cdncemed about negative feedback 
from other dubs. 

"Everyone ought to look in the inir- 
; ^ ror before anyone casts stones, ’ ’ he said 

. ^ at the Phoenix Civic Plaza, site of the 

^ “■draft “We are the new kids on the 
block, and we have a game plan and we 
plan to stick to it.” 

, And in a swipe at H. Wayne Hni?- 
■})}::. enga, owner of the World Series cham- 
*«//{,» pion Florida Marlins, Colangelo added, 
“And whatever we do is not going to be 
something that has to be tom down and 
sold." His re mark alluded to the li- 
quidation proceeding the Marlins have 
-embarked ran. 

In the expansion draft on Tuesday 
•night in Phoenix, Arizona and Tampa 
Bay were each to draft 35 players from 
' the 28 other clubs. A moratorium was 
' placed on trades from the time teams 
submitted their protected lists for the 
draft last Tuesday. A barrage of trades is 
expected to follow the final round of the 
■draft, when the ban ends. 

. - Several deals had already been 
agreed on, according to baseball 
‘sources. 

. The Montreal Expos are expected to 
send Pedro Martinez to the Boston Red 
.. Sox for three pitching prospects: Carl 
Povano, Rafael Ordlano and. Peter . 
. . Munro. But Martinez's reluctance to 
sign a long-term contract with Boston 
could undermine the deal. 

The Marlins were said to be poised to 
, - trade Robb Nen to the Red Sax, Kevin 

. I r. i®rown to die St Louis Card inals and 
' 1 J,v Gary Sheffield to the New York Mets. 
Both the Diamopdbacks and Devil 
.Rays, in prearranged deals, were likely 
:o trade several of fee players they have 
drafted. 

Each of die 28 other clubs will lose 
.wo players, some three. Each can pro- 
ject mree more players after the first and 
second rounds. Any club leaking its 
irotected list feces a $250,000 fine. 

Arizona and Tampa Bay are the only 
organizations to have seen the entire list, 
md both have been operating behind the 


locked doors of war rooms that are 
swept far listening devices atthe start of 
each day. 

Because the established don’t 
know who’s available, the Devil Rays 
and the Diamondbacks and ihe . 
they talk to can’t use names. , 

“It’s been a very cumbersome situ- 
ation trying to make those trades," said 
Chuck LaMar; the Tampa Bay general 
manager. The Devil Rays pick first, but 
LaMar said Monday mat they had not 
decided on a choice. 

Among the high-salaried, veteran 
players believed to T bc unpro tected for 
this draft are Bobby Bomlia, Greg 
Vaughn, Bed McGriff, Gregg Jefferies, 
Brian McRae, Bern McDonald. Darryl 
Hamilton, Ron Gant, Edb.^rros, Eiic 
Young and ToddZeile. Tbe^esajansion 
-clubs estimate they haveaheady spent 
more than $2flQ .T mfl inrr, -infarting the 
$130 million entry fee.” . 

.“We want to be as competitive as 
quickly as we can," said Vince 
Naimoli, fee Tampa Bay otnkar. 

The Devil Rays and fee Diamond- 
backs swept fee board of fee. four am- 
. ateor players who became fide agents on 
rule violations in fee 1996 draft — - 
TampaBay spending $10-2: million on a 
free-agent pitcher, Matt White, and Ari- 
zona $10 million on a San Diego State 
University first baseman, TYavis Lee. 

The Devil Rays are expected to draft 
more young players than the Diamond- 
backs. Tampa Bay wants to be com- 
petitive quickly, too, but isn’t expected 
to have as large a payroll as Anzona. 
The Devil Rays also have said less about 
free agents. 

The Diamondbacks emphasized they 
want to draft players of good character 
and cited feat plan as a major reason 
why they signed Bell, who had rally one 
other offer, from his 1997 team, Kansas 
City, for far jess than fee new team gave 
him. 

Bell. 31, played for Pittsburgh for 
eight seasons before it traded him to fee 
Royals last December. He became a free 
agent after completing a five-year, 
$20.1 millio n contract He has a 268 
career average. (NYT.LAT) 

■ .Sale of Twine Is Reported Near 

Carl Pohlad says members of base- 
ball’s executive council have “given 
their blessings" far him to sell fee Min- 
nesota Twins to a North Carolina busi- 
nessman, Don Beaver, Ihe Associated 
Press reported. 

“I told them fee purchaser will be 
sending .in.. his. application shortly.,’’ 
Pohiadjsaid in Phoenix, where fee coun- 
cil met Monday. “It’s just a formality 
now.” 

The Twins’ owner saidirwgs "highly 
unlikely" feat other owners would not 
approve fee sale and relocation. 

Pohlad has said he win sell fee team 
to Beaver if fee Minnesota Legislature 
has not approved fi n a n cing for a new 
stadium by Nov. 30. The Legislature 
adjourned a special session on fee issue 
last week after fee House defeated a 
stadium-funding proposal, 84 to 47. 

Beaver needs fee approval of voters 
in fee Triad area of Greensboro, High 
Point and Winston-Salem in a a ref- 
erendum on May 5 for a 1-cent res- 
taurant. tax to finance a $210 million 
stadium. 



Mm VWJApp w Fraocr IVw 

Troy Drayton of the Dolphins being tackled by Buffalo’s Henry Jones after a reception to the Bills’ 17-yard line. 

As Alumni Watch, Dolphins Crush Bills 


By Charlie Nobles 

. New York Times Service 

MIAMI — Most of fee Dolphins’ 
unbeaten 1 972 team was looking on, but 
it took a while for Miami to live up to 
feat legacy. 

Then fee Dolphins scored two touch- 
downs in fee final 5 minutes 1 1 seconds 
on Monday to beat the Buffalo Bills, 30- 
13. The victory kept Miami in a first- 
place tie wife fee New York Jets in the 
American Football Conference East 
Buffalo is two games back wife five 
games to play. 

The clinching score came on Dan 
Marino’s second touchdown pass of fee 
night, a 30-yarder to tight end Troy 
Drayton, who was open because Bryce 
Panp blew fee coverage. Drayton trotted 
info fee end zone wife 5:11 to play. 

The Bills then failed on fourth down . 


from their 24-yard line, setting up 
Karim Abdul- Jabbar’s 1-yard touch- 
down nm 3:45 from the finish. 

The teams came wobbling through 
fee fourth quarter, wife neither able to 
do much damage until Marino saw 
Drayton by himself. Marino finished 18 
of 24 for 234 yards. 

Miami appeared to take control be- 
fore halftime, during which fee Dol- 
phins’ Super Bowl champion team from 
25 years ago was honored. 

An opening nine-play, 56-yard drive 
included two long Marino passes — 25 
yards to wide receiver Charles Jordan 
and 21 yards to Abdul-Jahbar. But fee 
series bogged down at fee 19, and Olindo 
Mare kicked a 37 -yard field goal. 

The Bills spattered on offense and 
Miami began to take charge. With 
Marino completing 5 passes fra* 76 
yards, fee Dolphins went 90 yards in 11 


plays. Marino hit fee backup tight end 
Ed Perry, a rookie, in the right flat for a 
3-yard touchdown, Perry’s first in fee 
National Football League. 

The Dolphins tacked on another field 
goal of 30 yards by Mare on their next 
drive. Miami's 13-0 lead began to 
shrink in fee third quarter, however. 

The Bills took fee second-half kick- 
off and went 52 yards for a touch- 
down. 

Ihe Dolphins responded wife a 35- 
yard field goal that Mare banked in off 
fee right upright, but Buffalo muscled 
58 yards to get a 36-yard field goal of its 
own. 

On fee ensuing kickoff, Irving. 
Spikes's fumble, recovered by Steve 
Tasker at fee Miami 16. put fee Bills in 
position to take fee lead. But fee best 
they could do. after reaching fee 4, was 
another field goal 


An Embarrassing Loss for the Mavericks . . . 


The Associated Press 

• PORTLAND, Oregon — In three 
days, Portland’s Rose Garden could 
hardly have hosted two more different 
games. 

On Friday, it was fee highest of 
NBA drama in fee Trail Blazers’ MO- 
139 four-overtime loss to Phoenix. On 
Monday, it was a rout feat was over 
almost as soon as it started. The Blazers . 
beat fee Dallas Mavericks, 120-75. 


“We stood around watching, and 
the Blazers were jumping around all 
over fee place," said Jim Cleamons, 


fee Dallas coach. “If we weren't em- 
barrassed by this performance, we 
won’t ever be embarrassed." 

Cleamons added: “We were like 
toys. The Blazers were doing any thing 


they wanted to do." 

Arvydas Sabonis, fee Portland cen- 
ter, pushed Shawn Bradley of fee 
Mavericks around like a bully. Sa- 
bonis hit all 10 of his first-half shots, 
finishing wife 24 points and 12 re- 
bounds. 

Dennis Scott,, who led all Dallas 
scorers wife 12, said: “That was my 
first time ever losing by more than 30. 
No question, it was embarrassing." . 


... But NBA’s Eyes Were on Players’ Knees 


The Associated Press 

NEW YORK— The NBA’s fash- 
ion police were on patrol again Mon- 
day, trying to make sure shorts are 
short enough and knees are naked. 

The latest to cross fee fabric line 
were die rookie center Kelvin Cato 
and fee forward Rasheed Wallace of 
fee Portland Trad Blazers. They were 
fined $2^500 each by fee league, and 
fee team was fined $25,000 because 
fee players wore u niform shorts feat 
hung below their knees. It was fee 
second such penalty in a week. 


“It has gotten ont of control" said 
Rod Thom, NBA vice president of 
operations. “This is a professional 
league, and yon should wear your uni- 
form in a professional manner." 

The role, which is new tins season, 
states feat shorts must be at least one 
inch above fee top of fee knee. 

Wallace accused the league of aim- 
ing the rule at young players. • 

* ‘I know they targeted a whole lot of 
young guys, so you know it’s dis- 
crimination right there," he said after 
fee Blazers brat Dallas on Monday. 


More than 30 players have been 
warned to shorten their shorts, and the 
fashion police are watching. 

The players' union said a grievance 
would be filed over fee fines to Cato 
and Wallace, just as one was filed last 
Friday when fee league fined Chris 
Can, Stephen Marbury. Kevin Gar- 
nett, Clifford Rozier ana Doug West of 
Minnesota $2J500 each and fee Tirn- 
berwolves $25,000. 

The trend toward longer shorts 
began wife the Bulls' Michael Jordan, 
who wore his baggier than usual 


Last-Second 
Goal Sends 
Blues Past 
Maple Leafs 

The Associated Press 

There are times when a hockey game 
is decided by one bounce of fee puck. 

■It happened wbm St Louis scored fee 
winning goal Monday wife less than 
two seconds left in Toronto. 

“He took a wrist shot from fee red 
line, it took a bad bounce, hit fee post 


and went in," Toronto goaltender Felix 
Potvin said of A1 Maclnnis’s fluke goal 
wife 1.8 seconds left. It gave the Blues a 
3-2 victory. 

But Brett Hill of fee Blues said: “Just 
a lucky sboi" 

Maclnnis admitted he didn't know 
what he was doing when he shot from 
nearly 1 00 feet away. 

“1 didn’t know how much time was 
left,” he said. “Once in a career that 
happens." 

Potvin said it was probably the worst 
play of his career. 

“Felix is feeling bad right now, but 
he’ll look back on this in a couple of 
years and laugh," said Mike Morphy, 
fee Toronto coach. 

Steve Sullivan, scratched by Toronto 
for fee last four games because of his 
listless play, scored once and added an 
assist 

The Blues took a 1-0 lead 13 seconds 
into fee game when Geoff Courtnall 
banked a shot off Potvin's skate. 

Sullivan helped fee Maple Leafs tie 
the score in the second minute when he 
won a face-off deep in fee St Louis end, 
starting a play feat ended wife rookie 
Mike Johnson’s shot from the slot 

The Blues made it 2-1 in the first 
period Toronto defenseman Matt 
Schneider lost fee puck underpressure, 
and Jim Campbell rifled it by Potvin. 

Sullivan tied the game in the seventh 
minute of fee final period when he. 
snapped a high shot prat Grant Fuhr. 

Canadian* 4, Lightning 1 Mark Rccchi 
scored two goals as Montreal extended 
Tampa Bay's winless streak to 16 
games. 

The loss — fee 10th straight for fee ' 
Lightning — spoiled the return to 
Montreal of Jacques Demers, a popular 
former coach of fee Canadians. Demers 
has lost all three games since replacing 
Terry Crisp and fee interim coach, Rick 
Paterson. 

Recchi scored in fee first period, and 
added an empty-net goal wife 1:12 to 
play. Martin Rucinsky and Shayne Cor- 
son also scored for the Canadiens. 

Jeff Toms scored for Tampa Bay. 

Bruins 4, Senators 2 Boston’s Rob 
DiMaio continued to haunt slumping- 
Ottawa, scoring the game-winning goal ’ 
in the secondperiod. 

DiMaio’s fifth goal at 9:06, followed 
by Ted Donato’s score at 13:46, secured - 
fee victory far Boston. Jason Allison and 
Dmitri Khristich also scored for the vis- 
itors. 

Alexei Yashin scored twice for Ot- 
tawa — his first goals in nine games. 

Coyote* a, oilers a In Phoenix, Teppo 
Numminen and Shane Doan scored in 
an 84-second span daring a four-goal 
second period as fee Coyotes extended 
Edmonton’s winless streak. 

Cliff Ronniog, Keith Tkachnk, 
Jayson More and Rick Tocchet added 
grads for the Coyotes. 


DENNIS THE MENACE PEANUTS 


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PAGE U 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, NOVEMBER 19, 1997 


OBSERVER 


The Cramm ed Airplane 


By Russell Baker 


N EW YORK — Americ- 
ans are getting big. Did I 
say big? Big isn’t good 
enough. Americans are get- 
ting huge. 

Vast, immense, massive, 
enormous. 

No, not humongous. Any- 
body who would call Amer- 
icans a word as ugly as hu- 
mongous should have his 
television smashed and be 
forbidden to buy a new one 
for two weeks. 

You know what that 
means: Two endless weeks 
with no humongous men 
playing games in the parlor. 

Two whole weeks without 
seeing gigantic Americans 
dislocating each other's el- 
bows, knees, hips, spines, 
neckbones and rotator cuffs 
to prove that what counts is 
not whether you win or lose 
but how you play the game. 

□ 

O.K., let’s stick to the 
point, which is this threar to 
stop airline passengers from 
bringing aboard more than 
one suitcase apiece. 

Airline people say there's 
too much luggage floating 
around inside their planes. 
Office machinery, skis, baby 
carriages and crated sofas are 
falling out of bulging over- 
head compartments onto pas- 
sengers’ heads. 

This is true, but it's nothing 
compared with other risks of 
air travel, including the one 
airlines never talk about, ex- 
cept to say it’s more likely to 
result from driving to the air- 
port 

My terror is of passing out 
from exhaustion, dehydration 
and cardiac rebellion during 
the 35-mile hike between air- 
port gates. Of being left there 
to die of exposure. Exhaustion 
is all too natural when you are 
carrying two 50-pound suit- 


cases and a computer.. and 
who isn’t these days? 

What are we supposed to 
do with die luggage that can't 
go on board? Give it to die 
airline baggage smashers? 

I have done that with die 
following results: 

1. Bag checked from Bos- 
ton to Washington via US Air 
found by United Airlines 12 
days later in Atlanta, having 
arrived there from Miami 
where it had been taken by 
ValuJet 

2. Bag checked at airport 
entrance 40 minutes before 
snowstorm cancels all flights. 
Sixty-Eve thousand bags from 
hundreds of canceled flights 
all dumped one hour later in a 
cavernous room. Sixty-four 
thousand look exactly like 
mine. Bag recovered after six- 
hour search. 

Instead of making passen- 
gers submit to trial by 
checked luggage, the airlines 
ought to provide ample bag- 
gage storage space in the pas- 
senger cabin. 

This means carrying fewer 
passengers at present exorbit- 
ant air fares. Since die cargo 
space would be empty, 
however, plenty of people 
would be willing to ride down 
there in the cargo bins at cut- 
rate prices. 

Nowadays the typical air- 
line cabin already bears close 
resemblance to a cargo bin. 
This results from airline tyr- 
ants cramming in more and 
more smaller and smaller 
sears as customers get bigger 
and bigger. 

For instance, l flew to Iowa 
and back. The planes were 
packed with gigantic people 
shoehomed into seats sized 
for kindergarten. 

Airlines of America, the 
people are swelling; big people 
need bigger seats and bigger 
suitcases. You are packing 
whales like sardines. Make 
some space in those cabins. 

New York Times Service 


David Mamet Revisits His Old Neighborhood 


By Bruce Weber 

New York Times Service 


B 




OSTON — The rehearsal took place on a recent 
1 Sunday in an obscure, cellar-like space in this 
city’s South End. The room was spare. Two actors, 

Peter Riegerr and Vincent Guastaferro, sat on folding 
chairs against the backdrop of a brick wall, observed 
by only a few others. 

One was the playwright, David Mamet, who sat 
directly in front of them, a familiar, stocky figure 
with a bluntly trimmed beard, round glasses and a 
baseball cap.. 

That's more information than Mamet would sup- 
ply about the setting for one of his plays. But of 
course the thing about Mamet is there’s a lot that isn’t 
made explicit For all the rage and anguish that gets 
communicated in his work, much of it is hidden, 

, roiling but invisible. 

: the rehearsal, which was for “The Old Neigh- 
borhood," Mamet’s play that opens at the Booth 
Theater on Wednesday, it wasn’t the lines giving the 
actors trouble so much as what was between mem: 
the pauses and die language-less utterances that 
Mamet meticulously includes, to give rhythm and 
emphasis to the actual words. 

"Tolstoy said a great thing," Mamet told the 
actors as they struggled to communicate the friend- 
ship between their characters in a scene in which the 
lines seemed disjointed and obscure. “You can tell 
that a marriage is on the rocks when they speak to 
each other rationally." 

Clever, referential, oblique and biting, it was a 
remark typical of Mamet, who turns 50 at the end of 
the month. Perhaps alone among American writers in 
his embrace of both serious and popular culture, he is 
in a period of remarkable productivity, even by his 
own prolific standards. ■ 

He has just published two books, “True and 
False," a prickly and exhortatory treatise for young 
actors about die trials of their chosen profession; and 
a novel, “Die Old Religion,” which purports to trace the 
thoughts of Leo Frank — the Jewish factory manager in 
Georgia, who in 1913 was wrongly convicted of die rape and 
murder of one of his employees, and was later lynched by an 
anti-Semitic mob — as he waited out his torment in prison. 

And then there are die movies, which seem to pour out of 
him. He wrote the screenplay for the Anthony Hopkins-Alec 
Baldwin film, “The Edge," now in theaters; he has finished 
“The Spanish Prisoner," an independent film about an elab- 
orate con game that stars Steve Martin and Campbell Scotland 
that he wrote and directed; “Wag the Dog," a political satire 
he wrote for the director Barry Levinson, is to be released next 
month, and he has completed several new screenplays, in- 
cluding a remake of “Die Cincinnati Kid” for A1 Pacino. 

“I had to give him an award recently,” said Ricky Jay, the 
writer and prestidigitator who is a close friend of the play- 
wright and who appears in “Die Spanish Prisoner.” “And as 



Sin Kruhticbillr n 


David Mamet at a rehearsal: It’s the pauses that count 

I was making my introduction speech, I looked down along the 
podium and I saw Dave was making notes. I thought he had 
finished another couple of screenplays while I was talking.” 

But beyond the sneer volume, the work, particularly his 
stage dramas, has begun to take on a reflective, personal cast. 
It is as if Mamet — whose angry male characters in plays tike 
“Glengarry Glen Ross,” “American Buffalo" and “Sexual 
Perversity in Chicago” made his reputation as an icon- 
oclastic bard of rage — has softened enough to let the world 
in on some of his secrets. 

It was in “The Rake,” a short autobiographical essay 
published in 1992, that Mamet first revealed in print what 
was apparently a childhood spent in torment the chief villain 
being a stepfather. In the essay, he recounts an incident in 
which the stepfather threw his younger sister, Lynn, across 
die room, cracking a vertebra in her back. 

His last play, “The Cryptogram," depicts the life of a 


young boy living in a fractured home, where the 
parents lie to each other and manipulate him, 
concludes with the image of the silent child as- 
cending a staircase to an attic, holding a knife and 
apparently bent on self-destruction. 

Now there is “The Old Neighborhood,’ which 
consists of three previously written one-act plays that 
have been revised and knitted together into one, ana 
which, even as it is among Mamet's most oblique ana 
stylistically spare plays, resonates as his most openly 
autobiographical . 

Die play had its world premiere last April in a 

S ee production at the American Repertory 
e in Cambridge, Massachusetts, directed then, 
as now, by Scott Zigler. 

In it, Bobby Gould, whose name recurs ui 
Mamet’s work and who in this case he acknowledges 
to be his alter ego, makes a midlife visit to ms 
hometown. There, he confronts, in separate painfrJl 
conversations, a childhood friend (Guastaferro), his 
sister (played by Patti LuPooe) and a .past lover, 
played by Mamet’s wife, Rebecca Pidgeon. The 
events that inform their shared pain are never made 
specific; if is only evident' that it still stirs them. 

“In many ways it’s an old-fashioned play, of the 
kind you would see in the ’50s,” Maroei said, “a 
kitchen play, a reflective, family-oriented play. 
And that may be so, though in the traditional family 

play, the events that cause the conflict are dramatized 

on stage. 

Id “The Old Neighborhood," die conflicts are 
old: the strife-cansing events are being kept alive by 
the characters’ memories. Can the same be said of the 
playwright? Is it fair for a theatergoer to see David 
Mamet in Bobby Gould? 

“If you want,” Mamet said. “But it seems to me 
that that happens only if die play isn’t any good. ” 

In an interview, Mamet talked about the evils of the 
movie business (and bow much fun it is), which 
would explain why he telerates the grinding Hol- 
lywood system he lambastes in Ms new acting book. 
"Why deal with Hollywood?” he said. “It's screaming 
good fun. It pays very, very well. And in certain ways, it’s the 
big table, and as a gambler I always wanted to play at the big 
table. I’m not an ascetic. I’m greedy and ambitious like 
everybody else.” 

And he spoke, with enthusiasm, about a production of 
“Hamlet’ ’ he has been directing in fitful rehearsals over the 
last two years. His friend William H. Macy is in the title role, 
and the cast has included such Hollywood luminaries as 
Michael J. Fox (Laertes) and Whoopi Goldberg (the Player 
King). “I’m trying to talk Steve Martin into playing Claudi- 
us, he said 

He plans to stage it in Manhattan, ar the tiny Atlantic 
Theater, the home of the company he and Macy helped found 
in Me 1980s. With such a cast, why not Broadway? 

“I want to see people clawing each other to death outside 
the theater,” he said 



\ 



4 


4 


BALLET 


PEOPLE 


Dancing Radicals: Sydney Troupe Sets World Invasion 


By Ann Daly 

Netc York Times Sen-ice 

N EW YORK — At 21, the 
Sydney Dance Company 
is “on the verge of adult- 
hood” says its artistic direc- 
tor, Graeme Murphy. And its 
current American tour, the 
first in nearly a decade, may 
indeed (wove to be the Aus- 
tralian troupe's rite of pas- 
sage. 

The 1 1 -city tour of Mur- 
phy's full-length dance “Free 
Radicals.” which began last 
month in Austin. Texas, is 


ill-length i 
s.” whicl 
in Austii 

winding up at the Joyce Theat- 
er in New York. The piece, he 
said, is a “living” work, one 
that continues to develop with each stop along the 
road. When Murphy became artistic director of the 
Sydney Dance Company in 1976, 1 1 years after its 
first incarnation as The Dance Company, there was 
little contemporary dance in Australia. Today, the 
local market has "reached its peak,” said Murphy. 

Its most recent six-week season attracted 18,000 
people in a city of four million, he said and he is 
planning an “onslaught” of Europe, Asia and the 
United Slates. “It's not over until everyone in the 
world is convened to contemporary dance." he said 

Murphy. 47, underwent his own conversion while 
still in bis 20s, when he jettisoned a career in 
classical ballet the had danced with the Australian 
Ballet and the Sadler's Wells Royal Ballet). “I was 
never going to be a prince,” he explained “My nose 
was too big. and 1 didn’t have the right feel for it I 
liked real people. I didn't like how the classics often 
make you feel so far removed from humanity.” 

At 25, he assumed leadersMp of the Sydney 
company, where he fostered an individuality of 
expression among his dancers that he had found 
lacking in his own professional experience. “As a 
dancer, I was hungry for someone to look at me and 
ask. ‘ How do you feel about moving like that?* and 
then build the dance around me,” he said “I try to 
find thar point in a dancer that is the real them, 
which is so often suppressed tinder layers and 
layers of technique.” 

“Free Radicals,” Murphy said is a good re- 
introduction to the company “because it really 
features individuals and their personalities. 
They’re not playing characters. They're not in a 
narrative. They have ownersMp of the work.” 

The work extends Murphy's “Synergy With 



Jam- [topfcrraTOa- Nr> Yod Tam 

Artistic Director Graeme Morphy, with members of the Sidney Dance Company. 


Synergy,” a 1992 collaboration with the composer 
Michael Askill that explored the fusion of dance 
and live percussion using pre-existing scores. In 
this newer production, the interaction between the 
three percussionists and 16 dancers began in the 
studio, where together they created the movement 
and music from scratch. “From the outset," said 
Askill, “we knew there would be no major melod- 
ies or harmonies for the dancers to hold onto. It was 
going to be rhythm and pure dance.” 

Typically, dancers pay less attention to the inner 
rhythmic structure of a musical phrase than to the 
shape of a melody or to instrumental cues. Most 
movement is measured in eight connts. “Wehadto 
stop counting like dancers and start counting like 
musicians,” Murphy said. “We had migraines the 
first week. But the musicians also had to learn our 
vocabulary and how to move to keep up with us, 
because sometimes they're literally playing our 
bodies like instruments.” 

To set the process in motion, Askill devised 
clapping and counting exercises for the dancers to 
help them hear the complex rhythms. The dancer 
Linda Ridgway. for example, related to the beats of 
the music through mathematics. 

Ridgway, 30, who was a classical ballerina, 
always yearned to dance less like an ideal and more 
like herself. Her move to the Sydney Dance Com- 
pany last year forced her to confront who she is as 
a dancer. "What does that mean after so many years 
in ballet,” she asked herself, “being like all the 
other swans?” 

For one thing, it means moving with more emo- 
tional freedom. Her solo, accompanied by wooden 
platters floating in a tub of water, features several 


balletic arabesques, but she 
has been increasingly seeking 
a more physically expressive 
way to embody the theme of 
water. “My hands are like 
spiders and sea urchins, and 
they are now getting a more 
sensual quality.” she said. 

After the company played 
with counting and clapping, 
explained Askill, “we settled 
on a base figure of 12 and 
divided that into three phrases, 
of 3, 4 and 5 counts. Dien we 
reconfigured those in all dif- 
ferent time signatures and or- 
c bestrated them over different 
kinds of percussion instru- 
ments." 

On stage, the 


musicians 

play metal salad bowls, terra-cotta pots, bells and 
suspended sheets of metal along with drums. The 
dancers similarly created steps for each of the 3-, 4- 
and 5-count phrases, and then began to manipulate 
them choreographically. 

While this strongly pulsed material opens and 
closes “Free Radicals,” there are also sections 
consisting of freer, vibrating rhythms and dancing. 
"We had six and a half weeks to create a 90-minute 
score — design, choreography and point of view,” 
said Murphy. “I thought: if you can do it in six and 
a half weeks, there is no time to analyze, to in- 
tellectualize; it’s going to have a freshness and 
realness. It’s going to feel like an event and a 
gathering of people and ideas. I'mnot going to have 
time to impose something on the dancers. I really 
didn't plot ahead.” 

Muiphy has forged an “Australian" point of 
view for his company by collaborating with fellow 
Australians like Askill, who is artistic director of 
the percussion group Synergy. “Rather than trying 
to tackle it through the colloquialisms of kangaroos 
or beer cans — lifestyle — I cried to do it through 
Australian painters, composers and sculptors and. 
above all, dancers, who seem to have their own 
aesthetic anyway. “One is always asking. What 
sets Australians apart? I think what sets them apart 
is their absolute courage about world exploration. 
They have no qualms about jumping on a plane for 
30 hours and going and finding a new country in 
which to dance.” 


A CATALOG of Princess 
Diana's dresses that she 
autographed has been sold at 
auction for $100,001 to an 
unidentified bidder from 
Tampa. Florida, the Tampa 
Museum of Art said. The win- 
ning bid was $1 high er than a 
bid from Japan. The money 
will be used for children's 
programs ar the museum. The 
catalog was issued by 
Christie's for its auction of 
Diana’s dresses in June and 
was one of 250 signed by Di- 
ana. . . . Diana will be honored 
with a special tribute during 
World AIDS Day on Dec. 1, a 
British charity said. The 
O car-winning film producer 
David Puttnam will speak 
about Diana’s work and leg- 
acy on AIDS at a “Celebra- 
tion of Life” candlelight pro- 
cession and vigil in central 
London organized by the Na- 
tional AIDS Trust . . . Diana 



Fred fto m gfl ta iKT* 

ROUND MIDNIGHT — Clint Eastwood, left, with the 
cast of “Midnight in the Garden of Good and 
Evil,’ ’which he directed, at the premiere in California.' 


was negotiating before her death to star op- was sold for £49,900 ($84,800) at Sotheby's i 
posite Kevin Costner in a sequel to the movie in London. Die comedian once accompanied £- 

•‘Tka ’■ *rko Van, Dn«t m l>N»idant Mappu Tnnnon <nhn at tka " 


‘The Bodyguard,” The New York Post re- 
ported. Diana would have played a role 
loosely based on her life, with Costner as the 
bodyguard she falls in love with, Costner told 
Premiere magazine. . . . Diana's family has 
baffled Toronto officials by rebuffing two 
requests to name a city subway station after 
the princess. Die Spencer family turned 
down the most recent written request, saying 
they did not consider the naming “appro- 



Ann Daly, the author of "Done Into Dance: 
Isadora Duncan in America," wrote this for The 
New York Times. 


official, said die refusal was “baffling.” 

“She was supposed to be the princess of die 
people. What could be more' people-oriented 
than a subway station?” 

. □ 

Gianni Agnelli, 76, patriarch of the family 
that controls the automaker Fiat, was reported 
in excellent condition after doctors reset the 
bone in his left leg that was broken in a fall at 
his home. It was the fifth time he had broken a 
leg. 

□ 

Jack Benny’s violin, an essential part of 
the late American comedian’s act in films, 
television and variety for more than 40 years, 1 ‘I wouldn't hesitate.” 


President Harry Truman, who was at the 
White House (nano, in an impromptu version 
of “The Missouri Waltz” on the 19th-century 
French instrument 


The American Spectator has fired one of 
the conservative magazine’s star writers, 
David Brock, who savaged Anita Hill and 
President Bill Clinton, then let down Ms fans 
a sympathetic biography of Hil- 
am Clinton. The magazine's ed- 
Enunett Tyrrell, attributed the dis- 
missal to practical concerns. “We can’t 
sustain the high salary we were paying him, " 
Tyrrell said. * ‘I haven’t gotten a lot of pieces 
out of him.” Brock replied that the Spectator t 
thought he was no longer useful when he * 
strayed from the party line. 

□ 

Sylvester Stallone has turned down £17 
million ($26 million), the biggest fee of his 
career, because he doesn’t want to play a 
tough guy again, the tabloid Sun of London 
reported. “It’s an action film and I think those 
kind of movies are dead and buried now,” he 
was quoted as saying. “If die right script came 
to me to play a homosexual,” Stallone said, 
nkm'thf 


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