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The World’s Daily Newspaper 

Paris, Monday, November 24, 1997 


Japan Races 
To Deal With 

Collap se of 

Failure of Yamaichi 
^ Is Expected to Strain 
Entire Financial Sector 

CemptotltyChrSnfFmi Detaches 

TOKYO — Finance officials 
scrambled Sunday to put together a plan 
to cope with Japan’s biggest financial 
failure of the postwar era — the collapse 
of Yamaichi Securities, a 100-year-old 
brokerage company whose bad loans 
could total billions of dollars. 

Yamaichi, the smallest and oldest of 
the country’s so-called Big Four broker- 
ages, determined that there was no 
chance it could survive a credit crunch, 
the shrinking of its business and high- 
profile scandals involving corporate 
racketeers, financial sources said. 

Yamaichi told the newspaper Nihon 
Keizai it would announce early Monday 
that it would close its global operations. 
The Bank of Japan said Sunday it would 
offer an unsecured loan to Yamaichi to 
protect its customers’ assets and to re- 
strain the reaction to the failure on over- 
seas markets Monday. Japan's stock 
market is closed Monday for a holiday. 

But analysts said Yamaichi and Jap- 
anese officials were in a race against 
time, as global markets were likely to 
sell off sharply at the latest sign of 
trouble in Japan’s financial sector. 

“People will sell first and ask ques- 
tions later,’* said Daniel Marull, vice 
president of Hoenig & Co.’s equity de- 
partment. “The whole industry, banks, 
securities firms, construction compa- 
' riles, will be sold very heavily.” 

Analysts also expect the yen to con- 
tinue the slide that started when word of 
the extent ofYamaichi’s troubles began 
to spread late Friday. 

“The Yamaichi news will have a 

See JAPAN, Page S 

Beijing Plays 
Key Role as 
East Asians 
Improve Ties 

By Michael Richardson 

liuerrutional Herald Tribune 

SINGAPORE — Although East 
Asia's currencies, stocks and economic 
growth are under heavy siege, political 
and security relations in the region have 
never been better, as tensions diminish 
after the Cold War and countries focus 
instead on development 

China, officials and analysts agree, is 
playing a key role in this regional rap- 
prochement. Its borders with Russia are 
now secure and its leadership under 

Pacific Rim leaders pledge new 
steps to liberalize trade. Page 13. 

President Jiang Zemin, strengthened by 
a recent Communist Party congress, is 
conducting a foreign policy that is more 
confident, flexible ana responsive to the 
concerns of other countries in Asia and 
the Pacific region. 

Some officials and analysts also say 
that East Asia’s dire financial and eco- 
nomic troubles are forcing regional gov- 
ernments to smooth over tensions to 
enhance prospects for recovery. 

For example, when Prime Minister Li 
Peng of China visited Tokyo recently 
for talks with his Japanese counterpart, 
Ryutaro Hashimoto, they played down 
the territorial disputes and other issues 
that have bedeviled their relations and 
instead signaled that Asia’s two largest 
economies were ready to cooperate in 
restoring confidence in the region’s 
battered financial systems. 

In Manila on Wednesday, officials 
from China and Japan joined those from 
13 other Asian and Pacific countries, 
including the United States, in an accord 
to work toward setting up a regional 
financing facility that would supplement 
International Monetary Fund assistance 
to countries hit by economic ernes, such 
as those now afflicting Thailand, Indone- 

See PACIFIC, Page 8 



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Tomas Balino, head of an advance guard from the International Monetary Fund, arriving in Seoul over the weekend. 

Hard Part Begins for Seoul and the IMF 

Bailout Weighs Heavily on Funds 
At Risk of Donor Fatigue 

Shock and Anger, but Mainly 
Humiliation in South Korea 

By Paul Blustein 

Washington Past Service 

Korea joins other Asian nations in 
seeking a massive financial bail- 
out, some economists are warn- 
ing that the cost of such rescue 
efforts may be greater than the 
global economy can easily bear. 

Finance Minister Lim Chang 


Yuel of South Korea said Seoul 
needed about $20 billion in loans 
from the International Monetary 
Fund and other donors. But many 
private analysts predict that far 
more will be required to put the 
South Korean economy, the 
world’s 11th largest, back on a 
sound financial footing. 

“Personally, I would be think- 
ing in die neighborhood of $50 
billion or more,” said Jeffrey 
Shafer, a former undersecretary of 
die U.S. Treasury who played a 
key role in the 1995 Mexican res- 
cue and is now a vice chairman at 
Salomon Brothers International. 

The problem is. South Korea 

is far from alone in pleading for 
financial life support Indeed, the 
counby is the turd Asian econ- 
omy to require a major IMF-led 
bailout recently. 

‘ ’We had $50 billion for Mex- 
ico, $17 billion for Thailand, 
$30-something billion for In- 
donesia.” saia Morris Goldstein, 
a former Fund official who is a 
scholar at the Institute for In- 
ternational Economics in Wash- 
ington. “And now to have a big 
one for Korea, and maybe we’ll 
have to have something for 
Brazil You can’t go on doing 
that without end.” 

Experts such as Mr. Goldstein 

See RESCUE, Page 8 

Meet Korea Inc. 

If you wantto understand what 
is going on with the International 
Monetary Fund and South 
Korea, it helps to think of the 
nation as an imaginary family 
firm called Korea Inc. that is 
having some problems with a 
large creditor called Japan Inc. 
Page 13. 

By Kevin Sullivan 

Washington Post Service 

SEOUL — All over this city, 
cranes are busy swinging bright- 
orange steel girders into place 
over the skeletons of new office 
buildings. An army of construc- 
tion workers spends its days 
hammering away on an exten- 
sion of Seoul's subway system, 
while South Korean yuppies in 
$150 jeans while away t ire af- 
ternoon sipping espresso and 
chatting on their cell phones in 
trendy downtown cofFee shops. 

It looks like the old South 
Korea, the Asian Tiger where 
there never seemed to be enough 
cement and steel to satisfy die 
construction juggernaut, or ! 
enough designer goodies to sat- 
isfy the new rich. 

But everything was different 
Saturday. South Koreans awoke 
to the news that the national 
economy was so badly crippled 
that the government was asking 
for a $20 billion bailout from the 
International Monetary Fund. 

President Kim Young Sam 
went on national television to 

acknowledge that the economy 
needed major restructuring and 
that all South Koreans should get 
ready for a dose of ‘ ‘ bone-aching 
pain.” The South Korean stock 
market closed down 4 percent 
Saturday, taking die losses for 
the year to 22 percent 
The response throughout the 
nation was shock and anger. Un- 
til hours before it asked for die 
bailout, die government had been 
insisting it would not be needed. 
But for many people, the over- 
whelming reaction to the news 
was sadness, tinged with shame, 
“We drought we were rich, 
and that's not true,” said H.S. 
Pack, who runs an antiques shop 
in Seoul’s Itaewon market dis- 
trict “We have to change our 
thinking. It is too early for us to 
act like rich people.” 

Few countries have a deeper 
— or more easily bruised — 
sense of national pride than 
South Korea. Many here had 
come to regard the national econ- 
omy as invincible, and the idea 
that it needs a bailout is buxni- 

See KOREA. Page 8 

U.S. Demands Iraq 
Open All Suspected 
Arms Sites, Even 
Saddam’s Palaces 

Crisis Is Not Over, 9 Washington Says, 
And Sanctions Won 9 t Be Removed 
Until UN Monitors Get Free Access 

Canptttdbi Our Fran PUpoKha 

WASHINGTON — Bolstered by a strong endorsement from 
United Nations weapons experts, American officials demanded 
unfettered access Sunday to President Saddam Hussein’s 
palaces and other suspect sites for UN inspectors responsible 
for destroying Iraq’s weapons of mass destruction. 

The officials also stressed that Iraq had no hope of seeing 
economic sanctions lifted as long as it balks at total access for 

“It is clear that there is a massive amount of work that has to 
be done there, especially in foe chemical and biological in- 
spection areas,” President Bill Clinton said in Vancouver,; 
British Columbia, at a summit meeting of Pacific Rim eoun-! 

Mr. Clinton said be was determined that weapons inspectors 
be free to cany out their mission. 

Baghdad’s UN representative countered that sanctions 
should be lifted now, saying the Iraqis had destroyed their 
weapons. And in Baghdad, foe Iraqi foreign minister, Mo- 
hammed Said Sahhar, said Sunday that the UN inspectors, 
should avoid sensitive sites and presidential property. 

The developments came a day after the UN co mmi ssion 
responsible for e liminating Iraq’s weapons of mass destruction 
in effect rejected a call by Russia fix 1 steps toward easing 
sanctions against Baghdad and supported U.S. contentions that 
Iraq was stOl concealing prohibited weapons programs. 

In a report to the Security Council the commission, known as 
UNSCOM, endorsed the position of foe United States that Iraq 
had undermined foe mission of inspectors and recommended 
what would be even more intrusive inspections. The report 
ignored an appeal by Russia to change the way foe inspection 
teams are organized and to declare an end to some areas of 

- “The sanctions will stay in place, foe U.S. secretary of 
defense, William Cohen, said Sunday on NBC television. 
“There is no hope of them being lined,” so long as Iraq 
continues to obstruct weapons instructors and ignore other UN 
resolutions imposed after foe 1991 Gulf War, he said. 

The U.S. r epresentative to foe United Nations, Bill Richard- 
son, speaking on Fox television, said: 

“They are nowhere close on any front So we don’t see 

See IRAQ, Page 8 

At Embryo Supermarket , 9 Shopping for a Baby 

By Gina Kolaia 

New York Times Service 

NEW YORK — Kathy Builer, a 47 -year- 
old New Jersey woman, is pregnant with 
triplets. But the babies bear no relationship to 
her or to her husband, Gary. Instead, they are 
growing from ready-made embryos that the 
Butlers selected arid paid for at Columbia- 
Presbyterian Medical Center in Manhattan. . 

Doctors at the medical centra- had mixed 
human eggs and sperm to make a variety of 
embryos with different pedigrees. Then they 
froze the embryos. The idea was to allow 
prospective parents to select embryos whose 

parents resemble them physically or have foe 
same ethnic background and are well educated 
— the best possible sperm and egg donors for 
those who cannot have babies offoeir own. 

The Butlers are part of a quiet but fast- 
emerging new world of assisted reproduction 
in foe United States. Doctors have become 
skilled at creating human embryos, and an- 
guished, infertile couples are more than will- 
ing to ray for whatever infertility clinics can 
offer. The technique has resulted in an un- 
known number of births. 

Mrs. Butler said she and her husband had 
few options. They had spent all their money on 
other infertility treatments, and so when they 

discovered that they could select a group of 
premade frozen embryos for $2,750, they were 

For many who venture through foe doors of 
leading infertility clinics, what the Butlers 
have done will be understandable,, even en- 
viable. After all, those few centers with em- 
bryos that are un for what the doctors eu- 
phemistically call “adoption” have waiting 
lists of couples who want them. 

Premade human embryos are rare and largely 
confined to a handful erf burgeoning centers Kke 
the one at Columbia-PresbytErian, whore doc- 

See FERTILITY, Page 7 

An American arms specialist leaving UN headquarters 
in Baghdad on Sunday for a second day of inspections.' 


. , Da*«t>7lc/rhE Aw«*±*a! Prat 

HOMAGE TO FRANCO — Spaniards saluting at a rally in Madrid on Sunday to mark the 22d anniversary 
of the death of the dictator Generalissimo Francisco Franco, who died at the age of 82 on Nov. 20, 1975. 

Netanyahu’s Right-Hand Man Quits 

JERUSALEM (AFP) — Prime Min- 
ister Benjamin Netanyahu’s chief of 
staff ana right-hand man, Avigdor 
Lieberman, resigned Sunday, appar- 
ently in abid to defuse a revolt by senior 
members of the governing Likud party. 

Mr. Netanyahu issued a statement 
accepting foe resignation of Mr. Lieb- 

ennan, an immigrant from Russia. 

Several ministers had demanded 
Mr. Lieberman’s dismissal since a 
Likud convention this month at which 
he was accused of waging a campaign 
to strengthen Mr. Netanyahu’s pos- 
ition in foe party at foe expense of 
potential rivals. 


The Fruits of the War in Congo 


_____ Pag* HI. 



Page 10. 

Sports ....... 

... Pages 18-20. 

The Intermarket 


[ The IHT on-line v; 

'.vvv.iht.ccm | 

By Chris Hedges 

New York Times Service 

In Bosnian Serb Election, 
The War ‘Refuses to End’ 

West’s Support for Karadzic Rival Stirs Backlash: 

waning support, appeared increasingly] 
likely to backfire on its Western patrons. 
To foe chagrin of many Western dip- 
lomats, who feel that Mrs. Plavsic is' 
mere likely to cooperate With them in 
carrying out foe 1995 accords that ended 
foe Bosnian conflict, die fikely bene- 
ficiaries might be the extreme nation-; 
alists in the Radical Party, led by Vojislav- 

Seselj, a Serbian paramilitary leader. 

(Robert Frowrek, the U.S. diplomat' 
who was leading foe mission from foe 
Organization for Security and Cooper- 
ation m Europe supervising the election, ■ 
said Sunday that he expected the turnout 
to be “well over 50 percent” of the U ! 
milli on registered voters, Reuters re- 
ported from Banja Luka. 

(Rival political parties will have to- 

rely on their own estimates over the next" 

week or more as to who won foe election- 
because the European mission said it 
would not announce any results for two 
weeks. .The final results, to include bal- 
lots cast by refugees living abroad, will' 
be announced sometime after Dec 6 • 
and no preliminary results wifi be made 
public, the mission said.] 

Radiral IVty leaders condemn Mrs. 
Plavsic for selling out” to the West 

skives wi*- 

rhe Bosnian Serb hard-hners if elected. 

• JETSf S k eroding,” said 
Doitte Latino vie, 36. foe paffiaXenSy- 

BANJA LUKA, Bosnia-Herzeg o vi- 
na — - Acrid cigarette smoke hovered in 
the room of the Book Lovers’ Club of 
Banja Luka, with its worn wicker chairs, 
steady clink of small cofFee cups, noisy 
chatter and shelves of well-thumbed 
Serbian literature. 

Groups of unemployed teachers, un- 
published writers, journalists and others 
who pass for foe intellectual lights of a 
small Bosnian city, most in threadbare 
coats, gathered to ward off the chill and 
to escape from the political debacle that 
has engulfed Serbian-held Bosnia. But 
with rival Serb leaders feeing off in the 
election' over- the weekend, foe discus- 
sion inevitably reverted to politics. 

“We hope foe power straggle will 
end this weekend with the parliamen- 
tary elections,” said Divna Damjan- 
ovic, 43, a reporter for a small 
magazine. “But we expect not It may 
have only begun. People are frightened, 
tired, burned out. It is as if the war just 
refuses to end.” 

The latest round in foe battle by 
Washington to replace Radovan Karad- 
zic, foe former Bosnian Seri) president 
too- has been indicted on war-crimes 
charges, with his rival, Biljana Plavsic, 
turned on foe parliamentary vote over 
the weekend 

But the vote, given Mrs. Plavsic's 

See BOSNIA, Page 7 




I -*sS 

1 - 

_ Kte 



Office of El-Gotten Goods / Power = Property 

Congo ’s Victors Settle In and Get Rich 

By Howard W. French 

iVw York Times Ser vice 

B INZA, Congo — This hilly snbuib of 
Congo’s capital, where the breeze blows 
cool and the tropical gardens of the 
wealthy fairly resemble visions of earthly 
paradise, had not seen such a change since the end of 
Belgian rule in 1960. 

In the very first days after President Laurent 
Kabila took power in May, weeks before he could 
himself move into the luxurious official residence 
of the deposed dictator, Mobutu Sese Seko, vir- 
tually an entire countxy’s elite was in flight 
For weeks, Binza’s heights crawled with two 
kinds of traffic: the armed security forces wfcing 
possession of sumptuous villas for the new generals 
and ministers in charge of this vast country, and the 
moving trucks carting new property in, and" often 
old valuables out — most often for quick sale. The 
only people, busier were die locksmiths who were 
removing old locks and delivering fresh sets of keys 
to the inheritors of the hills ide estates. 

IfeArff lirwnun'Tbp V> Imt Toot* 

extend its fingers down Binza's hillsides into the hot 
and dpsty city of Kinshasa below, where owners of 
even modest properties were awakened in the night 
by soldiers with guns who made claims on their 
belongings, it was not long before the ordinary 
people of the city were complaining bitterly over the 
arbitrary powers of the people who claimed to have 
liberated them. 

Last week, Mr. Kabila held a stormy cabinet 
meeting in which, Congolese officials say. he re- 
peatedly banged his fist on the table and berated his 
ministers for their greed. For the record, the next 
day's newspapers published a laconic statement 
saying that the president had “forbidden those in 
government to abuse their positions to rob the 
belongings of others.” 

But for now, in a land where the equation * ‘power 
equals property” dates at least to King Leopold of 
Belgium, for whom all of the Congo was a private 
domain in die 1 9th century, skepticism over wheth- 
er Mr. Kabila will be able to instill a new ethic seems 
far more prevalent than confidence. 

If change is going to come, many here say that 
there is no better place to start than the govern- 
ment's Office of Ill-Gotten Goods. The office, set 
up in the early days of Mr. Kabila’s administration, 
is a kind of economic police with broad powers to 
seize, manage or liquidate the assets of the corrupt 
officials who flourished around Marshal Mobutu 
during three decades of ruinous rule. 

The rear of the leafy villa in central Kinshasa, where the effort to seise the assets 
of Mobutu Sese Seko and his large circle of collaborators is based. 

For the time being, there is no means for anyone 
to appeal the office's decisions. One senior official 
said simply: “We serve as the judicial police and as 
the judge. Here, there is a presumption of guilt” 
But many here have begun to grumble about the 
office itself, whose fingers reportedly began to grow 
sticky as soon as It began seizing the properties of the 
late dictator and his large circle of collaborators. 

F OR WEEKS. Ki nshas a's lively newspapers 
have been filled with reports of shady deal- 
ings by the Office of Ill-Gotten Goods, and 
some senior officials in the agency have 
been dismissed. 

Working out of a leafy villa in central Kinshasa 
that was acquired by Marshal Mobutu early in his 
rule, Jean-Baptiste Mulembe, 54, the director of the 
agency, spends long days receiving reports from his 
inspectors and a legion of informers, as well as 
anguished visits from die freshly dispossessed. 

Even with the government showing its displeas- 
ure. Mr. Mulembe. an opponent of Marshal Mobutu 
who spent most of his adult life in exile in Europe, 
revealed little self-doubt about his mission and 
blamed the press for the appearance of trouble. 

“There are people here who just wish to see the 
negative in everything this government does,' ' Mr. 
Mulembe said. “We are hying to rebuild a ruined 
state, and are not out for vengeance. After the war, 
de Gaulle created a special bank from the proceeds 
of goods seized from Nazi collaborators. What we 
are doing is much the same. 

Told of Mr. Mulembe ’s historical parallel. Isun- 
gu ky-Maka, a prosperous private banker, chuckled. 
He says everything he owns he came by honestly, 
but he had several of his properties seized after Mr. 
Kabila took power. When troops sought to take over 
one of his houses, asserting it was a government 
property, Mr. Isungu said, be went to the safe in their 
presence and produced the deed to his home. Seeing 
there was a wad of cash inside, he said, the soldiers 
made off with the money and a vehicle instead. 

“These people came in here with the altitude that 
they are Saint Just and everything they find is corrupt, 
which gives them the right to do whatever they, want 
with you and your belongings.” Mr. Isungu said.. 
“But if they care to talk about history, the Soviets 
who took over everything in 1917 ended up in total 
failure. In fact, three years after his expropriations 
began, even de Gaulle was disavowed.' 

In Africa, a Black Panther Finds Peace in Farming 

By James C. McKinley Jr. 

New York Tunes Service 

ARUSHA, T anzania — For more 
than a quarter century, the man who 
likes to think of himself as the last Black 
Panther has lived in exile in a village at 
the foot of a mountain in Tanzania, a ‘ 
fugitive from American justice. 

His days are filled with farming, 
mountain climbing and running an ex- 
change program for troubled youths 
from his homeland. But at night, Pete 
O’Neal still dreams of his boyhood on 
12th Street in Kansas City. Missouri, of 
ihe bakeries along Paseo Boulevard, the 
jazz clubs, the famous barbecue joints. 

“I dream about Kansas City when I 
was a child.” he said in a recent in- 
terview. “I really believe I never will go 

Mr. O’Neal. 57, was the founder and 
leader of the Kansas City chapter of the 
Black Panther Party. He cannot return to 

the United States without facing a fed- 
eral prison sentence for a gun conviction 
in 1969. Like many 1960s radicals' he 
maintains the prosecution was politi- 
cally motivated. 

Though Mayor Emanuel Cleaver of 
Kansas City — a distant cousin of Mr. 
O’Neal — and other Midwestern politi- 
cians have lobbied President Bill Clin- 
ton to pardon Mr. O’Neal, their efforts 
have gone nowhere. 

In 1969, Mr. O’Neal was a fire- 
breathing Marxist revolutionary in a 
black beret and dark sunglasses, whose 
anti-white statements and confronta- 
tional politics scared Kansas City con- 
servatives, both white and black. 

In 1967, he heard about the Black 
Panthers and read “The Autobiography 
of Malcolm X.” Two years later, when 
he founded the party's Kansas City 
branch, he read a list of demands in a 
police department hallway. 

He admits he tried to provolte a war 

with the police, trying to draw them into 
a fight that would “show bow brutal they 
were.’ ' He accused the police of trying to 
lull him in a shooting episode that he now 
acknowledges involved drug dealers 
who had had run-ins with the Panthers. 

In October 1969, federal agents ar- 
rested Mr. O’Neal on charges that he 
had illegally transported a gun across 
stare lines. A jury convicted him, and in 
October 1970 he was sentenced to four 
years in prison. 

Rather than go to jail, he jumped bail 
and fled the country with his wife, Char- 
lotte HilL They flew from New York to 

By December 1972, he had surfaced 
in Algeria, where several terrorist or- 
ganizations and revolutionary groups, 
including the Panthers, had bases. 

Mr. O’Neal then went to Tanzania, 
and a year later moved to Arusha, the 
country’s second-largest city, and 
began farming. He bought his farm 18 

years ago. Over the years, Mr. O’Neal 
has been a chicken farmer and a sausage 
maker. These days, he makes his living 
manufacturing mustard, relish and Kan- 
sas City-style barbecue sauce. 

He has mellowed since the '60s. He 
no longer advocates armed revolution in 
America. Even his belief in Marxism 
has faded after two decades living under 
a socialist government “It doesn't 
work," he said, sighing. “It does not 
take into account human frailty.” 

Mr. O’Neal said he has never lost his 
belief in community development as 
urged by Malcolm X. He still advocates 
self-reliance and building the capacity 
of black people. 

Asked if he was angry about spending 
half his life in exile, Mr. O’Neal was 
philosophical. He mused that he prob- 
ably would have been killed had he 
stayed in the United States. 

“I don’t have any bitterness toward 
anyone,” he said. , 

A New Health Hazard: 
Profusion of Languages 

t. m 

By Esther B. Fein 

New York Times Service ■ 

NEW YORK — A doctor in the 
emergency room of a major academic 
medical center here called the owner of 
a local Vietnamese restaurant after mid- 
night, asking if he could.please interpret 
for a patient from Saigon. 

At a clinic in Brooklyn, New York, a 
Pakistani mother, anxious about her 
own feverish child, was asked to help a 
nurse practitioner talk to another Paki- 
stani woman about feeding ber child' 
properly. The drafted interpreter ended 
up berating die other mother for taking 
poor care of her child, causing the wom- 
an to flee the clinic before the exam- 
ination was over. 

And a refugee from Ukraine who 
speaks only Russian spent days in a 
Bronx hospital talking to no one. pet- 
rified as she submitted to a series of tests 
she did not understand, learning only a 
day before surgery that she had a can- 
cerous ovary that had to be removed. 

As the population of die United States 
becomes ever more diverse and the lan- 
guages spoken multiply, growing num- 
bers of patients who speak no English 
are being isolated by language barriers. 
And hospitals are scrambling to find 
ways to communicate with them. 

Nowhere in the United States is the 
diversity of natinnaliries and languages 
greater than in the New York metro- 
politan region. But while a few states 
offer comprehensive services for im- 
migrants who need medical interpreters, 
health experts -say the city lags behind. 

Some hospitals have hired more bi- 
lingual staff members and compiled 
lists of employees who speak other lan- 
guages. But full-time interpreters are 
expensive, and hospitals have no way to 
know when they mi ght need someone 
who speaks Ibo, for example, or any of 
the hundreds of other languages spoken 
in New York City and its suburbs. 

So hospitals are frequently forced to 
hunt down volunteers, sometimes pa- 
tients' children, or even bystanders in 
the emergency room. But this hit-or- 
miss approach breaks down easily and 
few health agencies in the region have 
been able to find a better way. 

“The diversity and size of New York 
is so overwhelming, it is staggering to 
try to solve the interpretation problem, ’ ' 
said Suzanne Michael, director of the 
Community Interpreter Project at 
Hunter College. “It’s counterintuitive 
foot as die hub of immigration New 
York would be behind the rest of the 
country in providing consistent, quality 
interpretation in health care facilities. 
But that is what has happened.” 

The consequences of medical inis- 
commani cation can be se^ze. JPkqents 
become sicker because they Ifai] to stick 
to treatment regimens, that they do not 
understand. They miss appointments. 
They pass on infectious diseases be- 
cause they do not know how often to ' 
take their medication or when to return 
for follow-up care. 

Doctors miss diagnoses, or get people 
to agree to procedures they do not folly 
understand. To compensate for their 
sketchy knowledge of patients' symp- 
toms, doctors order too many tests, some 
very expensive, others potentially risky. . 

“Pounding your chest and pointing 
and gesturing are not adequate com- 
munication tools for a doctor and a 
patient,” said Steven Davidson, chief of 

emergency medicine at Maimomdes. 
Medical Center in Brooklyn, which has; 
a volunteer interpreter back covering 66 

When you can’t speak to yo^ pa- 
tient in their native language, you do me ■ 
best you can,” Dr: Davidson said. “Bin 
no system of translation will ever be ; 
foolproof and you will never be able to 
duplicate that trust you establish when 
yon speak the same language.” . 

The number of people in tbe United 
States with limited or no proficiency in 
English is growing. According to tbe 
1990 census, 14 percent of people in the * 
United States over age 5 speak a lan- 
guage other than English at home, up 
from 1 1 percent in 1980. 

Demographers say that percentage is 

rising and along with it, the challenge to i 

adequately provide a range of services, < 
including education, law enforcement 
and medical care. 

Perhaps the biggest problem resulting 
from inadequate medical interpreting, 
health experts say, is that it discourages 

Doctors fear immigrant ; 
will stop seeking care- 

people with limited or no English — 
man y of whom are poor and at greater ’ 
risk for certain diseases — from seeking, 
preventive care. Most seek help only 
when seriously ill, when treatment is . 
more complicated and costly. 

“Tbe greatest danger is that people 
avoid the health care system altogether 
until it’s too late.”, said Heike Thiel de . 
Bocanegra, project director of the New 
York Task Force on Immigrant Health. ; 

* ‘If you cannot talk or communicate with 
die person who is supposed to be giving ; 
you care, you are going to stop seeking ' 
it, but you are not going to stop getting ( 
sick and neither are your children.” 

Everyone agrees that a trained med-. - 
ical interpreter is the best option when a.* 
doctor and patient cannot communicate' > 
directly. But few hospitals have that ( 
luxury. \ 

And when interpreting goes awry; the • 
results can be grave. Francesca Gany, ) 
executive director of the New York Task i 
Force on Immigra nt Health, told of a \ 
pregnant woman from China who went to < 
a clinic with her young child and a friend 1 
because an earlier test showed that she ; 
had a medical problem. She did not real- \ 
ize that the problem was tuberculosis. | 

The patient spoke only Fujianese. The » 
doctor tried for an hour to find an in- | 
terpreter, with no luck. Meanwhile, pa- i 
tients began to back up in the writing j 
room. Desperate, the doctor resorted to a , 
relay of interpretation. The patient’s ■ 
friend spoke Fujianese and Mandarin: A j 
nurse's aide spoke Mandarin and Eng- i 
Lish. The ride translated the doctor’s \ 
words into Mandarin for the friend, who ■ 
translated into Fujianese for the patient. ; 

“But when the friend discovered that . 
the woman had a positive TB test, she ; 
freaked out,” Dr. Gany said. “Then the , 
patient freaked out that her friend was ■ 
hearing these intimate and stigmatizing [ 
medical details, and she got up to leave. < 
Then the nurse’s ride starts yelling at J 

wasfand she stormed offi^o* now what- . 
do you have? A public health problem, a 
patient with treatable TB who is not 
being treated. Now, multiply this sev- ; s 
eral-fold in the system.” ’ * 

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22 Die on Italian Roads in Storms 

ROME (Reuters) — Twenty-two people died in car crashes 
on Saturday as violent rain storms hit Italy causing slippery 
roads and flooding, the police said Sunday. 

A spokesman said the 22 died in 17 different car crashes 
across the country. 

Torrential rains hit Italy all day Saturday, especially in the 
country’s central and southern regions. Weather conditions 
gradually returned to normal on Sunday morning. 

Bright Future for China Tourism 

HONG KONG (AFP) — China will become the world’s 
most popular vacation destination in the world by 2020, with 
more than 137 million tourists annually, a study by the World 
Tourism Organization said. 

The study, cited by the South China Morning Post on 
Sunday, showed that in 23 years, China is set to become the top 
tourist spot, followed by the United-States. France and Spain. 

An Air India plane bound from Madras to Singapore 
made an emergency landing in the southern Thai island of 
Phuket on Sunday after Singaporean authorities were in- 
formed a bomb was on board, Thai officials said. After the 123 
passengers were evacuated from die plane, an initial search 
was made but did not cum up any explosives. (AFP) 

This Week’s Holidays 

Banking and government offices will be closed or services 
curtailed in the following countries and their dependencies 
this week because of national and religious holidays: 

MONDAY: Buntu, Japan. 

“TUESDAY : Bosnia- Herzegovina. Suriname. 

WEDNESDAY : Mongolia. 

THURSDAY: Cuba. Guam. Puerto Rico. United Soles. Virgin Islands. 

FRIDAY: Albania. Chad. Jordan, Indonesia, Kuwait, Liberia. Mauritania. 

SATURDAY: Liberia. Serbia. 

Sources: JP. Mortem., Reuters. Bloomberg ■ 








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Forecast for Tuesday through Thursday, as provided by AocuWaather. 

North America 

Brisk and cold m the Noun- 
east and New England 
Tuesday. « may shower or 
Flurry Wednesday, than 
some sun and milder 
Thursday. There m ay be a 
shower m Chicago Tues- 
day. then partly sunny and 
milder m the Midwest and 
Ohio Vailay. Cooler with 
showers across most ©t 
the west. 


Cold trom ScancSnavta Into 
western Russia Tuesday to 
Thursday with snow trom 
HeisInM and Si Pstarabum 
to Moscow. Stormy with 
heavy downpours across 
Portugal and western 
Spain. Most of Prance. 
Italy and England will txa 
dry and seasonable. 
Cloudy and rainy across 


MBd with showers In Bei- 
jing Tuesday, then much 
coldar with sunshine 
W e dnesday and Thursday. 
Very rndd m Tokyo, but it 
may shower Thursday. 
Seoul win also be mSd with 
some s howers, then turn- 
ing chilly Thursday. 
Drenching rains ant head- 
ed fcy Shanghai, southern 
Korea and southern Japan. 

Middle East 



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<a, 1 Sia^ ■ Backers of Affirmative Action Sidestep a Supreme Court Showdown 


sir"* ~ on * e “ sss 

Ammo’s leading endl rights activists; Elaine 
Jones, director-counsel of the NAACP Legal 
Defense and Education Fund; the. Reverend 
Jesse Jackson, and Yvponc Scruggs, the' Black . 
Leadership Forum’s executive director. . ; 

As these leaders explained it, (he school 
board’s case against a suit brought by a white 

■_ p or me mack 

™ rum * . a coahtion of liberal civil 
nghts groups, to raise money to help the Pis- 
cataway, New Jersey, school board^nle art 

Su^fcST' 10 " suil ™ before iJk 

No less surprising was the caliber of those 
supporting the tactical retreat in the battle for 
affirmative action. At the meeting were some of 


teacher, who -had been laid off to maintain a 
racially diverse faculty, was so weak that it 
would probably lose. Even more important, the 
black leaders feared that the high court would 
use the case to issue a broad Tuling striking down 
almost all voluntary public and private affirm- 
ative action programs, dial give preferences to 
racial minorities and women. 

“The general discussion was that this was one 
. of the worst cases one could imagine bringing to 
the court, and it would allow it to make a 
sweeping ruling on affirmative action,” said 
Hugh Price, president of the National Urban 
League, who attended the meeting. “You never 
want to run the risk of having an overarching 
ruling made that is based on a bad situation.” 

The strategy devised during that August meet- 
ing culminated last week when the Piscataway 
School Board voted, 5 to 3, to accept a settlement 
that would pay the white teacher, Sharon TaA- 
man, $433,500 in back pay, damages and Jegal 
foes. Civil rights groups pledged to raise 
$308,500 of that amount, said David Rabin, the 
lawyer for the school board. The case will be 
dropped from the Supreme Court’s calendar just 
weeks before the scheduled arguments. ' 

For civil rights advocates, many of whom 
have contended in the past that there is no such 
thing as reverse discrimination, the action rep- 
resented a lactic^ retreat to avoid a larger legal 

With the active encouragement of the Clinton 
administration, they traded (his case away for 
time, hoping that ire; next case that presents the 
Supreme Court with an opportunity to issue a 
sweeping ruling on affirmative action, will have 
a more favorable set of facts, or that some mem- 
bers of the court, such as Chief Justice W illiam 
Rehnqnist, 73, who are the most hostile to race- 
and sex-based preferences, would have left it 

“This is a gamble for time,” said Clint Bol- 
ick, vice president of the Institute for Justice, a 
conservative public interest law firm that op- 
poses affirmative action. 

. He added, “I think these groups are gambling! 
that there will be a change in personnel on the - 
court in the not-too-distant future.” ) 

The case, Piscataway Board of Education v. ■ 
Taxman, is symbolic of another dilemma facing ; 
civil rights groups; how to maintain a modicum ! 
of control over affirmative action litigation to; 
make sure only the best cases, from their per- \ 
spec live, are pressed. 

For now, the civil rights groups may have) 
dodged a bullet. But opponents of affirmative • 
action and other experts said the strategy does ; 
little or nothing to handle the bigger issues of, 
affirmative action litigation that are beyond 1 
their control and a court that is at best in-! 
different and at worst hostile toward programs < 
that give preferences to minorities and worn- \ 

Advice to Reno Is Favorable to Clinton 

By David Johnston 

Ne*' Yurk Times Service 




WASHINGTpN — Justice Depart- 
ment officials have recommended in a 
memoran d um that Attorney General 
Janet Reno not seek an independent 
counsel to investigate fund-raising tele- 
phone calls made by President Bill Clin- 
ton and Vice President A1 Gore, law 
enforcement officials announced. 

Although Ms. Reno has until Dec. 2 
to decide whether to recommend that 
independent counsels be appointed, to 
investigate the calls, officials said she 
could decide as early as Monday. She is 

leaving Tuesday for an official trip to 
■*"" to Wash- 

Mexico and will not return 
ington until Friday. 

The attorney general has been nnrlw 

enormous pressure m recent months, 
from Republican lawmakers and even 

some officials wi thin her own Depart- 
ment, to step aside from the investi- 
gation and let an outside prosecutor 
decide whether Mr. Clinton or Mr. Gore 
broke the law. So far, she has refused to 

budge from her judgment that inde- 
pendent inquiries were unwarranted un- 
der foe law, even in foe faceof ferocious 
criticism leveled at her during congres- 
sional hearings. * 

. The recommendations suggest that 
prosecutors concluded they coVud hring 
no case under federal law against Mr. 
Clinton and Mr. Gore for. the telephone 

The staff recbmmendations^nxust be 
reviewed by Eric Holder Jr-, foe deputy 
attorney general, and then by Ms. Reno, 
but offi cials said they. expected that both 
would accept foe recommendations, 
which were made by lawyer^ in the 
Justice Department’s c riminal division 
in a memo rand um that began circ ulatin g 
Friday. ’ . 

If Ms. Reno concurs, it means that for 
the first time in many months, Mr. Clin- 
ton and Mr. Gore would be free of the 
immediate threat that an independent 
counsel would convene ’a grand jury 
inquiry into their personal roles in foe 
frantic fund-raising efforts during the 
1996 presidential re-election campaign. 

The officials said that Justice De- 
: lawyers are also advising Ms. 
10 not to seek foe appointment of an 

independent prosecutor to investigate 
accusations that form 

; former Energy Secre- 
tary Hazel O'Leary sought a donation 
for a charity m exchange for agreung to 
meet with a group of Asian business 

If no outside counsel is sought. Re- 
publicans are certain to denounce, the 
decision, having said for months that 
Ms. Reno cannot fairly evaluate the 
conduct of foe president and vice pres- 
ident and must turn foe case over for 

But law enforcement officials said 
they have uncovered tittle evidence that 
foe calls by Mr. Clinton or Mr. Gore 
violated the 114-year old Pendleton 

Act, which restricts fund-raising by of- 

(. The i 

facials on government property. The act 
was intended to discourage shakedowns 
of lower-level workers by their super- 
iors. It has never been used to prosecute 
officials who solicited private citizens 
in their homes or offices. 

Rot KnmjRmca 

CHALLENGING — Ron Carey, head of the Teamsters, speaking at a 
meeting in Cleveland. He said he would contest the ruling of a federal 
official that disqualified him from running in a new union election. 

Army Chief Quiets \ 
Furor Over Arlington: 

New York Times Service ■ 

WASHINGTON — The secretary of! 
the army, Togo West, has released foe • 
names of foe 69 people who have been ! 
given special permission to be buried at ■ 
Arlington National Cemetery during the [ 
Clinton administration, in an effort to. 
halt Republican accusations that; 
cemetery plots have been traded for! 
campaign contributions. 

According to Federal Election Com- ! 
mission records, only one of the 69 ■ 
people, M. Larry Lawrence, had con-; 
tribute d generously to either the Demo- . 
crude or foe Republican Party. Mr.; 
Lawrence was foe ambassador to! 
Switzerland when he died in January > 
1996, which Mr. West said justified! 
making an exception to the strict eli- 
gibility rules for burial at the U.S. mil- | 
itary cemetery. 

Mr. West’s news conference Friday 1 
seemed to quell many of the Republican ! 
critics. Several veterans groups said 1 
they were satisfied by the secretary’s! 


Republican Governors 
To Focus on Education 

MIAMI — Fresh from victories in Vir- 
ginia and New Jersey, Republican governors 
met in Miami over the weekend to plot 
strategy for 36 gubernatorial elections in 
1 998, and declared that education would be 
the next issue they would nse to try to move 
power from Washington to the states. 

On top of the Republicans’ education 
agenda is a request that Congress and foe 
Department of Education, eliminate fed- 
erally-required paperwork- and .regulations 

“What we want'Congress to do with 
education is exactly what it did with welfare 
three years ago,” said Governor David 
Beasley of South Carolina, foe incoming 
chairman of the Republican Governors As- 
sociation. “Give us foe flexibility.” 

Democratic leaders scoffed at the notion 
that Republicans could develop credibility 
on education. 

“Some of the Republican governors can. 

legitimately run on i 

lem is font the Congress has been awful on 
education,” said Governor Howard Dean 
of Vermont, chairman of the Democratic 
Governors Association. “We’re going to 
wrap that around their necks.” 

Next year’s, gubernatorial elections will 
test whether the Republicans can maintain a 
heavy majority of governors’ seats, one of 
their biggest political achievements in this 
decide. With Republicans holding on to 
seats in Virginia and New Jersey, where 
Christie Whitman was re-elected, there are 
32 Republican governors. (NYT) 

President Bill Clinton, gro u si n g that he 
travels around foe world in grand style but 
doesn’t get to see very much: “My staff’s 
idea of a good foreign trip is I get off the 
airplane, I get in a limousine, 1 go to a 
government office building, I talk to three 

and turnaround and come home” (AP) 

Away From Politics 

* . :• : 

' • The rate of serious crime 
across the United States fell 4 
percent in .the first half of 
1997, with a marked drop in 
cities with more than 250,000 
residents, the FBI has report- 
ed. (AFP) 

pending a threatening e-mail 
message over the Internet to 
Hillary Rodham Clinton, the 
first lady. ^ (AP) 

• More than $1 biHioo of 

1995 welfare payments and 
food Stamps went to illegal 
immigrant families because 
some of their children are 
U.S. citizens, according to a 
government report (AP) 

• NASA has approved a 
daring space walk by two 
astronauts to catch a 3.000- 
pound fl 350-kilogram) spin- 
ning satellite ana secure it 
aboard foe space shuttle 
Columbia for foe eventual 
trip home. (AP) 

[ • Law enforcement officers 
threatened or used force in 
encounters with an estimated 
500,000 people last year, ac- 
cording to a Justice Depart- 
ment survey. (WP) 

• Two 13 -year-old boys 
have been charged with 


RICKLESS elwood, 

American lawyer, husband 
of Regina, Either of Sam 
and Sarah, died at Santa Fe, 
New Mexico on 9 November 

Memorial to be announced. 
Donations to Hospice Cento; 

1422 Pasco dePeraha, Santa Fe, 

New Mexico 87501. 



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N. Korea Pushes 
U.S. Withdrawal 

Pullout Is on Agenda, It Asserts, 
WhenPeace Talks Begin Dec. 9 

Agence France-Presse 

SEOUL — North Korea 
said Sunday that it had agreed 
to take part in four-party 
peace talks next month be- 
cause it had been ‘'promised” 
that the question of a U.S. 
troop withdrawal from the 
South would be discussed. 

“It has been promised that 
the talks will focus on the 
U.S. troop pullout and the 
conclusion of a peace agree- 
ment between the DFRK 
[North Korea] and the U.S., 
as we have demanded,*’ a 
Foreign Ministry spokesman 
said. “That is why we agreed 
to hold the talks.’' 

The statement, monitored 
by the Korean Central News 
Agency in Seoul, was the first 
reaction from Pyongyang to 
the . landmark agreement 
reached in New York on Fri- 
day to start the negotiations 
between the two Koreas, the 
United States and China in 
Geneva on Dec. 9. 

“Thanks to our sincere ef- 
forts, confidence and political 
atmosphere for the four-party 
talks have been created/’ the 
spokesman said. The North, 
will “do all we can to make 
the talks contribute to peace 
and stability," he added. 

Before the agreement was 
reached Friday, Foreign Min- 
ister Yoo Chong Ha of South 
Korea said Pyongyang had 
understood that discussion of 
the withdrawal of U.5. troops 
would not be on the agenda. 

■ Talks a Breakthrough 

Steven Lee Myers of The 
New York Times reported 
from Washington: 

The agreement was a 
breakthrough in the Clinton 
administration’s efforts to 
draw North Korea out of its 
diplomatic isolation and to 
calm tensions on the Korean 
Peninsula. It was reached 
after a year and a half of pre- 
liminary talks and a final day 
of wrangling in New York 

Although President Bill 
Clinton and his aides wel- 

comed North Korea's de- 
cision, die agreement did not 
begin to address toe profound 
divisions between two coun- 
tries ripped apart, first by 
warfare, then by four decades 
of Cold War machinations. 

In addition, administration 
officials said they expected 
the talks to proceed slowly, 
hampered not only by North 
Korea’s suspicions but also 
by South Korea’s financial 
turmoil and approaching 
presidential election. 

“We know that this is the 
beginning of a long road," 
Secretary of State Madeleine 
Albright- said in a statement 
issued after her arrival in Van- 
couver, British Columbia, for 
the Asia Pacific Economic 
Cooperation forum. 

Mr. Clinton said he was 
pleased that toe peace talks he 
and President Kim Young 
Sam of South Korea had pro- 
posed in April 19% would at 
last move forward, and noted 
toe awaiting difficulties. 

“There is a lot of bard work 
ahead," he .said in a statement 
issued by the White House. 
“But this is an important first 
step, and toe United States is 
prepared to be a full partner in 
helping the Korean people 
build a future of peace." 

Officials in Washington 
speculated that toe North’s 
government had felt a need to 
move forward or risk losing 
international aid to help ease 
hunger caused by floods and 
drought in recent years — al- 
though toe Clinton adminis- 
tration has insisted that there 
was no link. 

The talks will include del- 
egations from the two Koreas 
and their principal supporters 
in the Korean War, which 
ended in 1953 with an 
armistice but not with a for- 
mal peace treaty. That 
armistice was only supposed 
to last a few months, but 
peace talks never resumed. 

For 43 years, the border be- 
tween toe Koreas has been one 
of the world's most heavily 
armed potential flash points. 

Perplexity on Wei Case: ^ 
4 Who?’ a Chinese Asks 

Concern Abroad Mystifies a Beijing Caller 

By Seth Faison 

New York Times Service 

Mike FfeU/Tbo Anxmed Prcn 

GUARDIAN OF THE DEAD — The Goddess of Mercy, Kuan Yin, standing atop the 
world’s longest golden dragon, which stretches more than 300 meters, during the opening 
Sunday of the Buddhist cemetery in Semenyih, Malaysia, south of Kuala Lumpur. 

BEIJING — Tan Lifeng was a per- 
sistent caller. He left a dozen messages 
and then called again, insisting when he 
finally reached a reporter that he could 
reveal a case that involved a major vi- 
olation of human rights in China. . 

As Mr. Tan told bis story, however, it 
gradually became clear that be was 
more agitated about a failed business 
venture that be said had been spoiled by 
low-level police corruption than about 
any thing like free speech or improper 


Because he had thrown the term "hu- 
man rights" into the conversation so 
liberally, though, it was hard to resist 
asking him a question: “What do you 

Japan’s Fast-Track Addition for Olympics 

By Maiy Jordan 

Washington Post Service 

Japan — When Jeremy Peterson sat in her 
spacious, reclining seat on this train racing 270 
kilometers an hour toward Nagano, site of the 
upcoming Winter Olympics, she thought there 
was only one thing missing- the ground. 

“In most trains, you feel you have a con- 
nection to the ground,” toe New York actress 
and dancer said. “You feel the jolts, the bumps. 
The biggest difference with this train is that you 
feel movement, but you don’t fed toe ground.” 

More than 2 million visitors are expected to 
flood Nagano when toe Olympic torch is 
lighted in February. Many of them will be 
foreigners arriving from Tokyo on this sleek 
blue-and-white train with a red stripe, toe latest 
monument to Japanese high-tech wizardry. 

Riding toe Asama bullet train is mote like 
being on a plane than a train. Seats are soft and 
wide, and passengers have more legroom than in 
the first-class cabm of a jumbo jet Between cars, 
there are vending marbings and telephones. 
Uniformed women patrol toe wide, carpeted 
aisles with carts of boxed lunches, sandwiches, 
beer, soda, snacks, ice cream and whiskey. 

The Asama races from Tokyo to Nagano, a 
distance of about 200 kilometers (120 miles), in 
just 79 minutes. Before toe As ama opened last 
month, toe rail trip took three hoars. In part 
because of toeexpenseof tunneling through the 
mountains on the way to the Japan Alps, toe 
new train and tracks cost $7 billion — $69 
million for every minute it shaved off the trip. 

The Asama No. 3’s ride is silent and smooth 

as glass, even as the scenery goes by in a blur. A 
computerized system in toe tracks can sense 
earthquakes and immediately shut down the 
train in the event of a strong tremor. 

To ensure that everything goes right wben the 
spotlight turns to Japan for 16 days m Februanr. 
the nation invested billions to dazzle the world 

Las they 

system. More than 700 college students will type 
and scan in data that will be posted immediately 
on 1,000 computer ter minals around Nagano. 
Journalists, officials and others will have nearly 
instant access to competitors’ times and scores, 
comparative world records, athlete biographies 
and live quotes from medalists. And it will be 
done in Japanese, English and French. 

Toyota’s revolutionary new "hybrid" cars, 
which run on electricity and gasoline, will feny 
athletes and officials. Vehicles cairyingalhletes 
will feature an elaborate satellite navigation 
system that shows the driver every street in toe 
city, including how much traffic is on which 
street, and will suggest the fastest route. 

About 2,500 cars carrying athletes and im- 
portant guests will be equipped with an infrared 
sensor system that will give them priority at 
traffic Lights. Sensors in the cars will send a 
signal to a traffic-control center, which will' 
make red lights turn to green almost imme- 
diately for VIP cars. 

Of course, toe computer systems could 
crash, as they did during the 1996 Sommer 
Games in Atlanta, and state-of-the-art tech- 
nology for guiding traffic could be meaningless 
if there is no room to maneuver on toe tiny, two- 

lane roads around the ski slopes. Bui few worry 
about the bullet train, which has become a 
symbol of Japanese ability to make technology 

It is so unusual for toe bullet trains to be even 
a few minutes late that an electrical problem 
last week on the Nagano tine was huge news. 
The railway is so proud of its punctuality that it 
issues partial refunds to passengers if toe train 
arrives late. 

The Asama bullet train carries 26,000 pas- 
sengers a day, and that number is expected at 
least to double for the Olympics. 

Some train buffe miss the old engines that took 
a prettier route through mountain scenery. But 
Japan stakes a lot of national pride on its high- 
tech trains, distancing itself from toe old iron 
roosters that still puff around Russia and Gh»n» 

The Shinkansen, as the bullet is known in 
Japanese, is toe king of all Japanese trains. The 
opening of toe first one, timed for the Tokyo 
Olympics in . 1964. is considered such a sig- 
nificant moment that it is included in school 
history texts. In 1991 , Japan promised it would 
produce a better bullet train if Nagano were 
picked as toe site of the ’98 Games. 

The world’s fastest train, France's TGV, 
speeds along at 300 kilometers an hour, 30 
kilometers an hour faster than the bullet James 
Spears, a Washington lawyer who has ridden 
both, said the difference is that the TGV “goes 
so fast you get sick looking out the window." 

Tokyo Station, toe hub of all bullet trains, is 
where many Olympic visitors will encounter the 
world’s most crowded train system. Though by 
no means the busiest station, 1.8 million people 
pass through it each day, as do 4,000 trains. - 

think of Wei Jingsheng?” 


As a principal symbol of China s hu- 
man-rights struggle, Mr. Wei made head- 
lines around toe world last week when 
Chinese authorities released him after 18 
years as a prisoner of confidence. 

Ostensibly, Mr. Wei was put on a 
flight to toetJnited States so he could get 
medical treatment But his release was 
rcally’a concession to international pres- 
sure. At toe same time, he is a political 
figure so powerful that Beijing' s leaders 
are glad to see him in exile. 

Yet Mr. Wei’s name is unknown to 
most people in his homeland. 

Mr. Tan, 28. who is trying to succeed 
by selling chemical cleansing agents* 
wants only good for his nation but sate* 
when asked that be did not trust toe 
Communist Party leadership to deliver 
it. Yet he did not know Mr. Wei’s name 
and was mystified as to why foreigners 
would care about a Chinese dissident 
when most Chinese did not. 

It is striking bow little consciousness 
or interest tKere is among ordinary 
Chinese in the larger notion of political 
or legal rights, or in political prisoners 
such as Mr. Wei who fight for the rule of 
law and democracy. 

The reason lies partly in toe fact that 
China is still a poor country and that what 
civic education exists is dominated by 
Communist Party authorities. 

Centuries of Chinese tradition have 
encouraged people to be respectful of 
authority figures, even wben they are 
not deserving, rather than challenge 
them openly. 

Leaders of die Chinese Communist 
Party maintain that human rights should 
be defined in terms as basic as the right 
to be properly fed, clothed and housed. 
Many Chinese seem to agree. 

There is nevertheless a well-educated 
elite in Beijing and other large cities, 
many of whom do care and keep track of 

Mr. Wei himself, speaking in New 
York on Friday, said prospects for 
democratic reform in Chiba were "ex- 

Sending Mr. Wei into exile relieves 
China’s leadership of one headache. It is 
unclear whether Mr. Wei will be enough , 
of an effective campaigner outside 1 
China to become a headache of a dif- 
ferent sort or whether he will slip into 
obscurity as some other democratic ac- 
tivists who left China have. 

Then again, Mr. Wei has never been 
famous within China. It was his silent 
presence, in prison, that cast such a long 






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India Coalition Nears Collapse 

NEW DELHI — India's governing United Front ap- 
peared to be on toe verge of collapse Sunday, but Prime 
Minister Index Kumar Gujral stood his ground in a war of 
nerves with the party that sustains his coalition. 

Mr. Gujral 's colleagues said he was ready to send a letter 
to the Congress (I) Party, which has provided crucial 
support to the coalition, rejecting its demand that he oust the 
Dravida Munnetra Kaihagam patty, but added they were 
delaying toe move, hoping for a reversal of the crisis. 

They said they were banking on internal differences in the 
Congress to bring the minority government back from toe 
brink, as many Congress leaders were eager to avoid 
midterm elections that could result if their party pulled toe 
plug on Gujral. 

The Congress president, Sitaram Kesri, set an ultimatum' 
last week, but no deadline, for the coalition, governing in a 
hung Parliament formed after inconclusive general elec- 
tions in 1996. (Reuters) 

Burma Junta Probes Corruption 

regime is under way. as toe ruling junta tries to polish its 
image and rein in corruption, sources said Sunday. . 

Three former senior figures in toe junta are among those 
under investigation for alleged graft, and appear to be under 
virtual house arrest in Rangoon, the sources said. They are 
the former trade and commerce minister Ton Kyi, toe 
former hotels and tourism minister Kyaw Ba,and the former 
agriculture minister Myint Aung. 

Others who were part of toe cabinet but not in the military 
elite, are also believed to be under investigation and senior 
aides to various ministers have been detained, sources 
said. (AFP) 

For the Record 

Prime Minister Viktor Chernomyrdin of Russia is to 
begin a visit to Vietnam on Monday. (AFP) 

A 24-year-old celebrity manager from India has been 
crowned Miss World* defeating 85 competitors at toe 

Hayden said the 

pageant on toe Seychelles Islands. Diana 
victory "means toe world to me." 

RANGOON — A major investigation into graft by 
ministers ousted in the recent shake-up of Burma’s military 

Sri Lankan officials have reported 240 cases of cholera 
in the past three mouths, prompting the president to appoint a 
task face to study ways to combat toe disease. (AP) 

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! Hs ■ ^ bhaky Peace Warily Awaits Halting Ulster Talks 


By Dan Balz 

— Christmas 
crowd the streets of central bE 
Store windows display holiday gowro 

over cof f« and 
KS^Lu ^afternoon. “If yon 

' I • f f 

■ 7““ V * years of sectarian 

violence between Protestants and Ro- 

- man Catholics a sense of near-normal- 
‘ «y bas returned to many parts of North- 
ern Ireland. A fragile cease-fire remains 

■ in place- the British government has 
coaxed and prodded historic enemies to 

■ the negotiating table and the people of 
the region say they are determined notto 

•- see a reversion to the past. 

I couldn t go through it again,** said 
' Angela McCann, who nonetheless 
yoiced fears that things could slip back 
f into conflict, as they have before. “It’s 
■■ only when it stops that you realize how 
: horrible it s been.*’ 

. BuI whether people ever see their 

■ dreams of a stable peace realized depends 

'• largely on the tedious negotiations under 
way in a drab government building on the 
' outskirts of the city. There, under the 
' supervision of George Mitchell, a former 

■ majority leader of U.S. Senate, eight 
• parties and the British and Irish gov- 
: emments are engaged in taltcc aimgri at 

resolving the long conflict peacefully. 

So far, the negotiations — which are 

■ trying to produce an agreement between 
the Protestant majority, most of whom 
want to remain part of Britain, and the 

L Catholic minority, who tend to want to 
f : end British rule in the province — have 
*. produced more history than progress. 
History came in the shape of a hand- 
shake between Prime Minister Tony 
Blair of Britain and Gerry Adams, pres- 

■ idem- of Sinn Fein, the legal political 
\ arm of the outlawed Irish Republican 
.' Army. It came as well when Sinn Fein 

joined the talks in September and sat at 
.- the same table with leaders of several 
unionist 1 and loyalist parties, which gen- 
erally speak for Protestants. 

But all that was two months ago. 

'. Since then, virtually nothing of sub- 
: stance has occurred. *Tm frank to say, 
it’s been extremely slow,*’ Mr. Mitchell 
said. “Very difficult.” 

David TVimble. leader of the Ulster 

- Unionist Party, complained that Sinn 
x i J Fein negotiators “haven’t made a con- 
y . tribution — they haven’t tried to en- 

- gage.” Mr. Adams called that accu- 
sation ‘‘absolutely George Orwellian,” 
given tint the unionists refuse to ac- 
knowledge the presence of the Sinn Fein 

.• negotiators at the talks. 

1 The unionists assert that the British 
. government is making too many con- 
cessions to the parties that represent 

Catholics; Mr. Adams contends that Lon- 
don, after an encouraging start, is not 
moving swiftly enough to reduce military, 
harassment in Catholic areas or to trans- 
fer republican prisoners from mainland 
Britain to prisons in Northern Ireland. 

Everyone is worried about recent re- 
ports of defections by IRA hard-liners, 
which they fear could mean an esca- 
lation of sporadic violence or the col- 
lapse of the cease-fire. While attempt- 
ing to play down the departures, Mr. 
Adams said, “It has to be a matter of 
concern.” Unionists say Sinn Fein 
hopes to force the British government to 
impose a settlement better than they 
could get at die bargaining table. 

It is against dial backdrop of sus- 
picion and fear that die negotiations are 
being held. Success or failure will de- 

pend largely on the courage and polit- 
ical skills of the representatives of the 
principal parties at the table. But Mr. 
Mitchell is likely to play an equally 
crucial role in guiding the talks. 

The former senator and former fed- 
eral judge receives no pay for his role. 
He lias endured scores of trans-Atlantic 
flights and endless hours of meetings in 
the secured compound where the talks 
are being held 

At the Belfast hotel that has become 
his second home, Mr. Mitchell talked 
about the differences between these talks 
and negotiations that he was involved in 
on Capitol HilL **1 said to several of the 
groups, ‘In all my previous negotiations, 
you can’t stop each side from talking 
about their issues. Here, you can’t start 
each side talking about their issues.* ” 

“There's a much longer history here, 
a much more developed sense of griev- 
ance and a need to redress grievance on 
both sides, that makes it hard for these 
political leaders to do it," he said 
‘‘You have to break away from that.’ ’ 
he added, "and say, We're not ignoring 
history, we’re not forgetting history, but 
we have to act based upon the needs of 
the future.” 

Many people have long argued that 
the broad elements of an agreement are 
clear; But, as an adviser to Mr. Blair said, 
“Getting the thing moving is difficult” 
The elements would include the cre- 
ation of an elected assembly for North- 
ern Ireland along the lines of those re- 
cently approved by voters in Scotland 
and Wales. It would include built-in 
guarantees to assure the Catholic minor- 

ity a genuine voice in running the affairs 
of the region. A united Ireland is beyond- 
the reach of the nationalists because a 
majority of voters in Northern Ireland 
must approve any agreement. 

■ An Adams Visit to No. 10 Nears 

Britain gave its strongest signal to date 
Sunday that Mr. Adams will meet shortly 
with Mr. Blair ar his London residence, 
Reuters reported from London. 

The last meeting between a British 
prime minister an a leader of $inn Fein 
at No. 10 Downing Street was in 1921. 

Hie minister for Northern Ireland, 
Marjorie Mowlam, said Mr. Blair wants 
to discuss the multiparty peace process. 
“Yes. they will meet before Christmas, 
I guess at No. 10. but we don’t have a 
date yet," she told BBC television. 


Slovenia’s President Wins 
2d Term, Exit Polls Indicate 

LJUBLJANA, Slovenia (Reuters) — Milan Ku- 
can, a former Communist, looked set to win a second 
five-year term as president of the former Yugoslav 
republic of Slovenia, exit polls showed Sunday. 

Polls from two television channels suggested Mr. 
Kucan would win from 52.9 to 60.4 percent of the 
vote, with his nearest rival, the parliamentary speaker 
Janez Podobnik, likely to get 1 6 to 20 percent First 
official results, based on a small number of votes 
counted, suggested Mr. Kucan was likely to get 
around 61 percent of the vote, television reported. 

Mr. Kucan, 56, who enjoys widespread popular- 
ity. is credited with overseeing Slovenia's com- 
paratively painless break from communist 
Yugoslavia after a 10-day war in 1991*. 

The president's duties are largely ceremonial. 
Slovenia has been ruled by a three -party centrist 
coalition under Prime Minister Janez Drnovsek since 
1992. ( Reuters ) 

Pastor’s Daughter Confesses 

BRUSSELS — The daughter of a Belgian pastor 
has confessed to helping him kill four close relatives, 
including her two brothera. dismember the bodies 
and dump them in plastic lags outside a slaughter- 
house. the Brussels Public Prosecutor's Office said 

Agnes Pandy, 39, also admitted she alone had 
murdered her own mother, her father’s first wife. In 
testimony to police Thursday, Miss Pandy said she 
and her father, Andras Pandy, 70, either shot or 
battered their victims to death with a sledgehammer 
over a four-year period in the late 1 980$. 

They then used acid baths to dissolve some of the 
corpses. Others were hacked up, put in plastic sacks 
and dumped outside an abattoir in the Anderlecht 
district of Brussels, the Hungarian-born Mr. Pandy 
was arrested last month and charged with murdering 

• y . - 

A woman 
placing a flower 
on a monument, 
unveiled Sunday 
in Salonica. 
Greece, in 
memory of more 
than 50,000 
Greek Jews who 
perished in Nazi 
camps. Greece 
hoped that 
the Holocaust 
victims would 
help improve 
ties with Israel. 

)>uik IMialit/lliulin 

his two former wives and four of his eight children. 
Miss Pandy was arrested Thursday and charged with 
murder and aiding in murder. ( Reuters ) 

Greece Arrests Italy Fugitive 

ATHENS — An Italian fugitive wanted in con- 
nection with the 1 978 murder of Aldo Moro. a former 
Italian prime minister, was arrested after more than 
19 years on the run, the Greek police said Sunday. 

Enrico Bianco, 45. accused of being a former mem- 
ber of die Red Brigades terrorist group, was arrested 
Saturday in the western prat of Aktion, police said. 

The police said a tip led them to Mr. Bianco, who 
had a rake passport with the name Fulvio Fo il ini 
which be used to travel to France. He was living on a 
sailboat, but he also had an apartment in Athens. 

I talian authorities had issued a warrant for Mr. 

Bianco's arrest in April 1978. Two months later, a 
court sentenced him in absentia to 10 years in prison 
for his role in Mr. Moro's abduction and killing . Mr. 
Mono was shot after being held for 55 days by the Red 
Brigades. The body of the former Christian Demo- 
crat leader was left in a car in central Rome. (AP) 

Germany Holds U.S . Rapper 

STUTTGART — German police have arrested the 
U.S. rap singer Coolio over allegations that a 29-year- 
old shop owner was punched in the stomach during an 
incident at a boutique, security sources said. 

The police said they had arrested eight people, 
including Coolio. on Saturday over accusations that 
they had walked out of a shop in the southwestern 
town of Boeblingen on Thursday wearing clothes for 
which they had not paid. (Reuters) 


St 2 





Major Accepts 
Legal Role in 
Inheritance of 
Diana’s Sons 

Tiw vi.i/rt/ Press 

LONDON — Former Prime Minister 
John Major has agreed to act as a special 
guardian for the sons of Diana, Princess 
of Wales, in complex legal issues re- 
lating to her estate, government and 
royal officials confirmed Sunday. 

At the request of lawyers for Prince 
Charles, a separate law firm has also 
been appointed to represent Prince Wil- 
liam. 15, and Prince Harry. 13. royal 
officials said. 

Reports in several Sunday newspa- 
pers said there were complications over 
Diana's estate because she did not 
change her will after her 1996 divorce 
from the Prince of Wales. 

In her will, Diana had estimated her 
wealth at only £1 million (SI .7 million), 
but when she died in a Paris car crash on 
Aug. 31 her estate was worth £21 mil- 
lion, The Sunday Times said. That in- 
cluded £17 million from her divorce 
settlement and £3 million interest on it, 
the paper said. 

The legal problems arise because 
Charles's lawyers are trying to avoid the 
40 percent inheritance tax bill the young 
princes would have to pay on the estate, 
the papers said. 

Hie Sunday Telegraph said Charles's 
solicitors. Fairer and Co., are attempt- 
ing to get the divorce settlement over- 
turned because Diana died so young and 
the money had been calculated to last 
until she was 85 years old. There is legal 
precedent and if" the settlement is over- 
turned, Charles would put an identical 
sum of money into a trust for his two 
sons, the paper said. 

A statement from Prime Minister 
Tony Blair’s office said Mr. Major had 
agreed ‘ ‘to assist in considering relevant 
legal issues” on behalf of Diana's sons 
with “the full approval" of Queen 
Elizabeth n and the government. 

Mr. Major was chosen for his “ex- 
perience” because he was prime min- 
ister at the time of the divorce and had 
advised the royal family, said a spokes- 
man for Sl James’s Palace, Charles’s 
London residence. 

Lawyers had been looking at the best 
ways to “maximize the assets of the 
estate’ ' for the benefit of the princes, the 
spokesman said, speaking with custom- 
ary anonymity. The spokesman 
stressed, however, that any dealings 
would be conducted in line with the 
queen’s undertaking in 1993 to pay in- 
come tax and to deal with taxation in a 
“straightforward manner.” 



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Cisco Systems is the world Is largest provider of 
state’Ot-the'eurt networking solutions (from 
routers, bridges and access servers to ATM and 
LAN switches). The company has offices 
located worldwide and corporate revenues 
have increased from approximately $4 

[billion to $6.7 billion during fiscal 

| 1997. Further strong growth is 

Anticipated. Due to the expansion 
I within Cisco Systems, we are 
now looking to recruit the 
| following individuals. 

MIS Senior Network 
Project Manager 

Based In Amsterdam 

Ai Chart rapid growth continues, fou wil be pare of the Beam 
nap onsMa far designing, implementing and departing Chao 
EiWopeV fanrral LAN A WAN Infrwruaure. Using your 
unde standing of PC dtenc software with networic prutuuih, 
youH use profesJoral concepts vriih company policies and 
procedures t» lata a wide range of problem In i ma gl native and 
practical vnyi. 

tall need to be methotfical. l yiten mk; sefLmodvadng aid 
wOEng TO um new eoafa and ctchniqiKs in a dynamic fast-paced 
■wii utanenc A strong asm player, youle^oyaixonoiiy and the 
npifar need po exercise jud pm wt and prioritise uiki. 
BSSiCScpuHed. it is asternal dot you hva several years' related 
experience In neoteric management fTCRflR X-25, SNMP)- Mealy 
you also tan Qko router configuration taqmrie mg . dynamic 
routing protocols (BGRP.RU’OSPF), modems. LAN/WAN. UNIX, 
C knowledge of TACACS. 

Her. NW1NOV9 71HT/J L 

MIS Trainer - Sales 

Based in Paris 

We are looking far a Trainer far our Sdes MB team, to ala 
respansMty far the delivery of all Sales AppBadons courses, by 
creating or adapting US based coursew ar e, and making pardafar 
um of ASTRO (the Sales Force Automation database). ERP 
Sales lepo m og , and die co rpo rat e Datwarehouse tools far 
Maricesfag users. 

taH need to work dosdywkh European and US Sales devdopment 
groups, using traMng appropriate m mm and aufance. to 
make sure US developments are suitable far Ewupaan use. 

Ybul also create novel training programs as required, attiring ill 
courseware remains accurate and up to date, and en co mputi ng 
any appli c a tion releases and changes that take pbcc. 

Taidnf account of Osar's Sales cutare. general business practices 
and the company direction, you timid be qtildt to learn new 
computer softwwe. and to develop a rapport wUi sales and 
technical Staff tal need excellent presentation ridfe and broad 
etperience in devdopmg oakling and courseware, preferably in a 
safes environment on an international level 

MIS Desktop Engineer 

Based in London 

Res p on s ible for the notation and selection of Wat technologies. 
Chart PC Software sets and Software package btedng and 
dbtribuciorv youl afao aa as die primary locus far Chert 
im pen din g Micros oft Exdonge raHpuc and maintain the 8fEA 
WW> server 

tal need to be methodical, systematic ml stf-rooovared. 
prepared n prioritise tads and adapt to new tools and techniques 
bi a dynamic and occasionally stressful envtrarenenc. And you 
have that rare ibHky to approbate and respond to nooeecfmical 
users' requirements. A deep knowledge of Windows 9S. MS 
Exchange and, Ueafly. Window* NT, along with same experience 
of e-mal systems, Wnb technologies and progr a mm i n g In C or 
Visual Bade would be useful. So would an MCSE qualification (or 
study Howards this). 

Based at Scoddey Buie in London, youl crave! so ocher EMEA 
offices, Indudfag San Josft where you! work donfy with the 
Advanced Technology group to otsure corporate standards. And 
there wfll be some out of hours otvcafl requt-cmencs. 


MIS Networked 
Commerce Analyst 

Based in Amsterdam 

As yort of the noweric Commence MIS own. youl be responsfale 
far the successful taundi of network commer ce d tools and the 
nqipert Integration and roflout of NC appB cations, 
tal abo oversee the support, antiytis and appro ps lei y of 
existing applications - making adjustments where necessary - and 
tande mtdtiple projects with a feats on OOridelUNJX backed 
systems, tar strong background In these Is enhanced by 
experience in Vlfab (sued and Deqnpnic Com me rce app li cations 
and in order entry systems, and you have ■ working knowledge of 
Internetworking firewzS products and common web browsers. 
BSCS quaffed (or equivalent) and. ideaffyt tome in several local 
languages, you're a team player, contm to work with mineral 
supervision. And yotiH use your first ran conenunicatian and 
customer service ddUs to facaract with local and US Beams in 
identify ing and resolving complex problem s with advanced systems 
to customer satisfaction. 


MIS Manager Applications 
HR, Finance and Customer Advocacy 
Based In BniSHb 

Acting as single point of aaxaee far ckems (Internal end-users), 
youH lead the project: teams resporefeVi far devefapkig and 
implementing MB appOradons projects far Qsco fa EMEA. In 
obtaining and managing budgets, youl work closely wtdi business 
dienes and USrirtsad MB d l i o UMi TO identify opporuedtics far 
process mprovement and automation, ta should have a good 
undereuiwSng of buskuos processes and have strong eapabftrias In 
commoikanicn aid orgsnbadoa E x pe rie nce of p wa grg or 
superrisfag in MS team is essentiiL 
Ref. MA/NOV97/HT/JL 

MIS Manager Applications 

Sales & Marketing 

- Based in London 

Using your experience in management and In su pp orting MK 
team, youf oranm til tint MIS aspaen of the bmfaess - from 
budgeting and project development TO dtent Orton and ssaT 
rea nritm a m, Tidi wfll BntaO identifying oppOnsmidei far 
Uii fi rowiwj u and automation and leading the project teams 
na pon sfc le far developfag and faipkana nJ ii g apptoti o n projects. 
fti a hjgh prolle role, far which youl need fast ran axnmiaikatian, 
presen noon and orpnbarion ablEdes. to oam pl em tc you* 
insdnaive underarandkw of buufaess processes and organisation, 
and ideally an MBA. 

A u wncnwui to a high dqyi*. yoifll be based In London, fan, 
there'll be reguhr short trips bo Parts and San Jant far meethga 
and co-ordination of gfabai applications. 

Ref. AMSM/N OV9 7/HT/JL 

MIS Business Systems Analyst - 
Telebusiness Channels 

Based In Paris/ Amsterdam 

Focusing oondmaljr on aotomer service and satisfaction, youl work 
dosety with otr corpo rat e Channel and Tdebudneg Thants in a fast 
paced protketion anv e min ent, bo Identify aid hi gi l em e nc BiEA 
requirements and drive solutions far applications on a gftdxd sofa. 
Ustft you hare overknee wbh chamtis and otiesties arpntadons. 
tar specffic respotufaifioa wB ndude fanttianti analysts, testing 
and verifying documenorioft and prawdirc end-user t rai ning. 


MIS Busincsss 
Systems Analyst - Sales 

Based in London/Pssris 

As Systems Binbvesa Analytt. yoi/l mrit closely wkh «!■ eorpcrace 
MU Sales Team, deMng and bnpfemedti ng EMEA requfranenB 
far sales appflatfena on a (fatal scale. Keeping a consort emphasis 
on customer service and satisfaction, the Butinen Systems 
Analyst, fa the interest of provid i ng fasy business and operational 
metrics, wl gather in for ma tion requirements. IdemBjktg gaps fa 
underlying systems, develop data access techniques and work with 
users and development ream lo readi resolution. 

A strong team player with e x o eB ant com munlntion sfals. you are 
able to tderaify Issues and drive soludora fa a fast paced production 
environment. kfasBy. you hare nxperlonee of Sales Force Autorrodon 

MIS NT System Administrator 

Batted In Amsterdam 

tall be responsible far the admini strat ion and mafatenanoa of 
MIS NT server machines, from software iniollzrions bo iqipades 
and system bactops. With-sewii yean' e x perienc e fa aiknfalBaku 
Windows NT systems, the proven abBty to organise and manage 
Attributed screen ml a thorough undentandng of TCP/IP and 
other LANA/VAN, youl work dosdy wkh project managers to 
d et ermine hardware requirements, measure machine performance' 
and own the v c tah R ty and security of mfaion-qytocal sown. 
MCSE qualified (or working towards k). you Mealy fove 
experience whh relational databases. Yotfl need to be prepared to 
be on call out of worker hours, sometnias at wedooids. 


ZrljrJ , T-.7-y : l ' V 


Tbo’ll need excelant English far all these roles. They'D Involve travel to our offices throughout Europe and occasional travel to 
otar Head Office In San Jos6. Caitfbntla. 

If you want to coirtitaite to the success of a market leader, please send yoor CV in ENCTJSH, quoting ay p r up r iat a r efti ence. 
to JacqueRne Leroy, Cisco Systems, 71 Avenue des Pleiades, 1200 Brussels, Belgium; or fax it to +32-2-778. 43J», or email to 

Cisco is an equal opponuriities employer. 

For more Information on the employment opportunities we have, visit our Web Site ae 

Cisco Systems 

The Network Works. 
No Excuses." 

Japanese Division of International Shipping Co. 
based in London require the following: 


Applicant must possess a strong bi-cultural awareness 
to ensure smooth coordinations between Japanese 
clientele and the UK operations, reporting directly to 
die General Manager. Fluency in Japanese language 
also essential. 


Applicant must have a thorough knowledge of direct 
marketing techniques and demonstrate first class com- 
munication skills, reporting directly to the General 
Manager. Fluency in Japanese language with a good 
working knowledge of Japanese culture essential. 


To head subsidiary office in Edinburgh. Applicant must 
demonstrate management ability and will be responsi- 
ble for the day to day running of this branch reporting 
directly to the General Manager, so must be capable of 
working with minimum supervision. . 

Please write with fiill CV stating whicfi\position ' you 
wish to be considered for to: Box No D-I00, c/o The 
International Herald Tribune, 63 Long Acre, London, 


An infcnabona] media and pabtisfaing company, is looking for highly moti- 
vated and experienced amdhfaks to fill dx postioo of 

AroiKaats should haw ailcasi two yean experiaux. and fluency in English 
and a second language. Job involves amd eleven months of the year 
throughout Europe & Asia Pacific. Therefore, preference win be given to 
ibore widi intertKtikml experience. 

If you have these qoahficahons. are mbdqpendeasrif-suncrreqqiring min- 
imum supervision and are able to work under pressure. Fax your CV and a 
fciw explaining your interest in die poshton to: FAX: (410) 531-6872 (USA) 
Abo. phase mail your CV, letter and a recent photo to: 

World Eye Reports; P.O. Bax 27; Dayton, MD 21036 USA 



A continuing education Language Centre is looking for a 
confirmed English Language materials writer and teacher for a 
new project. His/her tasks will be to: 

* Consolidate and transler existing materials onto interactive 
media (intra net. CD ROM...}. 

* Devise new materials suitable to these media. 

* Put forward new course formats which use new technological 

* Test and evaluate the new materials and courses. 

* Co-ordinate teaching programmes, in particular those which 
indude the new products. 

* Present the new programmes to potential customers. 

■ Train teachers and course participants to use the new 

* Teach both group and one-to-one lessons. 

The position is based In the Paris area. 

Applicants should be notice speakers and hold a relevant 
first degree and/or a recognised TEFL qualification. He/she 
should have had several years' experience of teaching in the 
Formation continue field in France and be established in this 

Practical computer skills (Word, Pawerpolnti and experience of 
interactive teaching methods and materials are necessary. A 
good command of spoken and written French is also required, 
in the first instance the contract will be for a one year period 
To apply please send a letter and a CV to? 

BP 105 


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Executive Positions Available j General Positions Available I EDUCATION 

b|pjs£ETiN6 Manager - Educate 


SI American University based in 
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supervise advertising and student 
recruitment efforts/international 
3§ responsabilities 

c/o International Herald Tribune 
63 f Long Acre- London WC2E9JH- UK | 

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PAGE 7.. 


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*}* Emerging Regional Bowers Challenged Africa's System of Fragmented States 

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Yurt Ti*<sSr™~ 

gS^mof AtoJSShSSf ° f 


prwoihc a United States of Africa. 

The coroUary. which ha s taken on ever greater 


multiplied, is to the tJSSZSSj^ 
* e ,BCTlfo (XrtfS^ce of 1885 is at 
flwroMtf mndK«f Africa's instability. 

Gu ided by their own conservatism, and a will 
!° holdonto power and a fear ofanlwen greater 
instability, roost of the comment's early inde- 
pendence leaders recoiled from Nkrumah’s vi- 
sion. In its place, they enshrined among Africa’s 
most widely accepted political rules a pledge of 
noninterference in one another’s affairs. 

As a result, Africa’s political elites have spent 
much of the last 40 years insisting that rt«» 

even as suncan intellectuals cun* their borders 
as the creation of arrogant outsiders who took no 
heed of this continent’s ethnic, historical or eco- 
nomic realities. 

Gaining little notice at first but recently ac- 
quiring dramatic force, events in this decade are 
shaking Africa’s old- geopolitical order as never 
before. With the implosion of Somalia, die break- 
up of Ethiopia and the narrowly averted dis- 
integration of Liberia and Sierra Leone, Nk- 
rnmah’s challenge to Africa’s acceptance of its 
inherited fragmentatio n has assumed renewed 
relevance, even urgency, in die 1990s, just as 
Europe is bluning itspwn political and economic 

Moreover, with the end of 
superpower alliances dial “Perhaps Vi 

helped keep die map of Africa , . T7* 

neatly- frozen dining the kut it you 
Cold War, . African states ■ J >een Lmlt 

have clearly abrogated die 

old non-intefexence axiom 

and openly challenged precolonial borders. 

The stiffest challenge to Africa's old state 
system has come in a string of Central African 
conflicts that began with the nm&-mosfo war in 
Zaire (now the Democratic Republic of Congo). 
Congo’s war ended in May with die victory of 
Laurent Kabila, the leader of an insurgency, who 
was heavily supported by troops from Rwanda, 
Uganda and Angola. 

That this wax would be radically tirffexeat from 
the continent’s many other postindependence 
conflicts was announced at its outset a year ago, 
when. Resident Pasteur B izimtmg n of Rwanda 
openly called for a ’‘Berlin n, so that .we can 
reflect on the disbidas created by Berlin L” 

The immediate complaint of Mr. Bizimungu’s neighbor, because of Zambia’s suspected as- 

f ovemment was that Zaire, led by the dictator sistance to Angolan rebels. 

lobutu Sese Sefco. was- barboring Hum mi- As Rwanda did in Zaire. Angola was inter- 
lidamen who mounted constant attacks against veiling out of coolly calculated nationaL interests. 

s suspected as- 

R wanda's Tutsi-dominated govenuneoL But 
many saw in the president's outspoken invoc- 

In the Congo Rqxiblic. these included knocking 
out rear bases of support for long-smoldering 

ah on of the Berlin Conference the reflection of Angolan rebellions and securing the strategically 
another grief, this one with its roots in. the co- precarious Cab inda enclave, a tiny land mass 

been bmh through war. 9 

1990s, just as lonial history of Belgium, which once defined sandwiched between the two Congos that ranks 
land economic and possessed both Rwanda and Congo. as one of Berlin’s most perverse constructions, 

* . but which also happens to con- 

“““ ' f tain two-thirds of Angola’s 

remaps we can spare ourselves the violence, vast oh wealth. 

but if you look at history, most political units have 

been built through war. 9 continent’s leaders can peace- 

g, ; fully rethink the map of Africa 

together, wars like these, driv- 

mial borders. Tiny Rwanda has one of the world's highest en by population pressures or competition for 
ca's old state population densities, andmay never find away to scarce resources, will be the wave of the future, 
lentral African accommodate the waning Hutu and Tutsi within - “A certain number of principles that date from 
-month war in its confines. the independence era are already being shattered, 

>lic of Congo). Next door, meanwhile, Congo is a geographic notably the principle of noninterference,” said 
die victory of colossus with one of Africa’s lowest population Edem Kodjo. a former prime minister of Togo 
suigeocy, who densities. . and former secretary general of the Organization 

from Rwanda, Rwanda’s intervention in the former Zaire was of African Unity. 

followed last month by an Angolan blitzkrieg in Mr. Kodjo, a lifelong Pan- Africanist who has 

Tiny Rwanda has one of the world's highest en by population pressures or competition for 
population densities, andmay never find a way to scarce resources, will be the wave of the future, 
accommodate the waning Hutu and Tutsi within - “A certain number of principles that date from 

its confines. _ - the independence era are already being shattered. 

Next door, meanwhile, Congo is a geographic notably the principle of noninterference,” said 
colossus with one of Africa’s lowest population Edem Kodjo. a former prime minis ter of Togo 
densities. . and former secretary general of the Organization 

Rwanda’s intervention in the former Zaire was of African Unity, 
followed lasr month by an Angolan blitzkrieg in Mr. Kodjo, a lifelong Pan-Africanist who has 
the neighboring Congo Republic, decisively end- written about the need to reconfigure the con- 
ing that country’s four-month civil war in favor tinent’s states, says Africa is bound to move 

of Denis Sassou-Nguesso, a former dictator who 
has now been returned to power. 

And this month, Angola reportedly helped plot 
a narrowly averted coup in Zambia, its southern 

toward what he called larger political ensembles 
in a process that risks being bloody. “Perhaps we 
can spare ourselves the violence, but if you look 
ai history, most political units have been built 

through war,” he said. “Take the example of 
Germany and Bismarck, or of Italy or of the 
United States itself.” 

Other African intellectuals fear that any 
sweeping reconsideration of Africa's bordezs 
would prove too costly to the world's poorest 
continent, threatening gradual economic 
development and institution building. 

Then comes the vexing problem of ethnicity. 
Europe's imperial cartographers have been crit- 
icized for more than a century for casually draw- 
ing up borders that separated ethnic groups or 
placed longtime rivals in the same colony. 
Africa's ethnic complexity, however, makes do- 
ing any better on this score an almost insur- 
mountable challenge. 

Some experts in African affairs say any change 
to political geography is unlikely to come 
through costly European-style wars of conquest 
or ethnic-based redrawing of the map. Africa's 
reconfiguration, these experts say, is already well 
under way but involves a more subtle process in 
which regional economic and military powers 
emerge and express their hegemony without 
seeking to extend outright sovereignty beyond 
their borders. 

Some of these new powers, like South Africa 
within its region, Nigeria in West Africa. An- 
gola in Central Africa and a tandem of Uganda 
and Rwanda in the east, are already known. 
Others that may emerge in time could include 
Congo. Kenya and Tanzania, and the Ivory 

BOSNIA: Amid Vote, War ‘Refuses to End 

Continued from Page 1 held Bosnia. Last week, the police r 

candidate from the Liberal Party, the 
only party in the Bosnian Serb republic 
that has doggedly condemned the na- 
tionalist movements that fueled the war. 

“The partv officials she denoimcftd 

corrupt have not been arrested but in- 
stead have switched sides and now run 
hex party, making a mockery of her 
promises to clean up the government as 
corruption and smuggling continue. 

“Worst of all, she is perceived by 
most Serbs as a stooge of the West.” 

He said there was “little rfw nc*» that 
Plavsic will control the new Parliament ’ ’ 
Instead, he said, the elections appear 
likely to enhance the authority of “the 
one man the West se ems to hate as much 
as Karadzic” — Mr. Seselj, the ultrana- 
tionalist who is the leading contender in 
next month’s presidential elections in 

If Mr. Karadzic’s governing Serb 
Democratic Party, which expelled Mrs. 
Plavsic last summer, and its allies in the 
Radical Party retain a majority in die 83- 
seat assembly, it will be a humiliating 
defeat for the United States, which has 
helped orchestrate the election in an 
effort to faring about a Parliamentfree of 
Mr. Karadzic’s dominance. 

NATO troops, in moves that have ant- 
agonized many Serbs, have seized police 
stations in towns in the western pert of 
Serbian-controlled Bosnia and installed 
police officers who have pledged loyally 
to Mrs. Plavsic. The troops also have 
taken over television transmitters that 
allow a studio in Mrs. Plavsic’s office 
building in Banja Luka to dominate die 
airwaves, often with propaganda as cmde 
as that of her rivals. 

“Our best hope now is that Plavsic 
gets enough votes to build some kind of 
a coalition with other parties, perhaps 
the Socialists, who are closely linked 
with Milosevic,” a Western diplomat. 


Slobodan Milosevic. ‘Tf this does not 
work, it will be a disaster.” 

The Social Democratic Party remains ' 
in control in die eastern half of Serbian- 

held Bosnia. Last week, die police re- 
fused to aUow Mrs. Plavsic to cross the 
border from Serbia until NATO troops 
intervened. . >. • 

Mrs. Plavsic’s new parly, the Serb 
People’s Party, suffers from poor or- 
ganization, and because it is dominated 
by fanner Social Democratic leaders, it 
has been largely discredited. Rallies 
have failed to (haw more than a few 
hundred lukewarm supporters, and Mrs. 
Plavsic’s fiery denunciations of Mr. 
Karadzic and his allies for c o rr upt ion, 
along with hex vows to improve die 
economy, have yet to be matched by 

The election campaign, which is be- 
ing financed with $1 .4 milli on from the 
Organization far Security and Cooper- 
ation in Europe, has been marred by 
violence and threats of intimidation in- 
cluding the arrest Wednesday by police 
officers loyal to Mrs. Plavsic of a woman 
they said was trying to hire an assassin 
for $3 million to kill die president 

Also last week, a bomb exploded un- 
der a car belonging to a pro-Karadzic 
editor of the state-run Glas Srpski daily 
in Banja Luka. 

Mrs. Plavsic’s campaign head- 
quarters in the eastern town of Bijeljina 
suffered severe damage last week when 
two gunmen fired more than 90 rounds at 
the building and tossed amoim grenades 
mAh No one was at the time ■ 

The United Stales’ special envoy to 
Bosnia, Robert Gelbard, quietly moved 
last month to prevent the balloting from 
also including a vote for the presidency, 
believing that Mrs. Plavsic could not be 
re-elected. Western diplomats said. 

Nikola Poplasen, 48, leader of the Rad- 
ical Party in Serbian-held Bosnia, is a 
prot6g6 of Mr. Seselj, the nationalist Be- 
fore the war, the two men taught together 
in the political science dep ar tme n t at Sa-» 
rajeyq University. They went on to lead 
Serbian paramilitary units accused by hu- 
man-rigfus officials of widespread atroc- 
ities against Muslims and Croats as well 
as looting and extortion. 

“We did very well in foe local elec- 
tions this fall and will do even better in 

A wheelchair-bound Bosnian Serb voting Sunday in Pale. A U.S. dip- 
lomat said the turnout could be ’‘well oyer** 50 percent of the electorate. 

these parliamentary elections,” said Mr. 
Poplaren, sitting with several body- 
guards in a large wood-paneled office in 
the Hotel Bosna. “We have six seats in 
this Parliament and expect that number 
to triple. People know that we are not 

tools of the Americans. We stand for a 
Greater Serbia, but one free ofcomrp- 
tion. When Seselj takes power in Serbia, 
the border along the Drina will dis- 
appear, if notin name then in reality. We 
will all live in one state.” 

8 Killed in Shelling 
In South Lebanon 

MARJAYOUN, Lebanon, — Israe- 
li military sources said Lebanon’s 
Amal guerrillas killed at least eight 
Lebanese civilians and wounded 13 
Sunday in shelling directed at Israel's 
. self-declared South Lebanon occupa- 
tion zone. 

The Shiite Amal movement denied 
involvement in the killings and 
charged that Israel was responsible. 
Lebanese state radio reported that nine 
people had died. 

Israel’s defense minister, Yitzhak 
Mordechai, called die attack "cold- 
blooded murder” and said Israel and its 
militia aDy, the South Lebanon Army, 
would maintain their bold on the zone. 

The Israeli Army said six people 
had been lolled in die village of Beit 
Lif. Two villagers died later in an 
Israeli hospital in Haifa. 

Israeli military sources said two Is- 
raeli soldiers were wounded in the 
attack on die village 3 kilometers (2 
miles) north of thelsraeli border. 

Israel and its militi a allies returned 
fire. A few hours later, Israeli planes 
twice hit suspected guerrilla bases in 
die region, the sources said. (Reuters) 

Algeria Denies News 
Of Foreigner Deaths 

PARIS — Algeria on Sunday denied 
a report in Algerian newspapers dial six 
foreigners had been killed in Algiers. 

Tire security services, in a statement 
to the news agency APS, said, “The 
information is without foundation.” 

- According to die newspapers Al 
Khabar and Liberie, six beriies, their 
throats cat, washed np in the sewage 
system Saturday. AI Khabar said they 
were apparently Asians who had been 
killed in Bouzareah on the city’s 

heights and whose bodies had been 
dumped in the sewers. (Reuters) 

Mexican General 
Arrested in Slaying 

MEXICO CITY — An army gen- 
eral who was the third-ranking officer 
of the Mexico City police has been 
fired and arrested for his suspected 
role in the murders of six young men. 
officials said. 

General Mauro Enrique Tello on 
Saturday became the fourth high- 
ranking police official to fall in the 
widening scandal, which led to a battle 
between army and police forces Wed- 
nesday and Thursday. 

More than two dozen members of 
the elite “Foxes” and “Jaguars” po- 
lice units have been jailed on sus- 
picion of having participated in the 
apparent torture and killing of the six. 
aged 17 to 23, whose bodies were 
dumped in two areas of the city in 
September. The three previously ar- 
rested high-ranking officers were ac- 
cused of masterminding the murder of 
■the six. General Tello is accused of 
covering up their role, (Reuters) 

Colombia Seizes 
Assets of Drug Lord 

BOGOTA — The authorities have 
seized more than 300 properties be- 
longing to the slain drug lord Jose 
Santacruz Londouo and his allies. 

Agents have taken over 43 ranches, 
68 apartments, 103 parking garages, 
real-estate agencies and construction 
companies, Colombia’s police said. 

Most of the seizures occurred in 
Cali, the base of the drug cartel run by 
Mr. Santacruz — who was killed by 
the police in March — and of three 
other drug bosses who have been im- 
prisoned. (AP) 

FERTILITY: Shopping for a Baby at an Embryo ‘Supermarket’ 

Continued from Page 1 

tatSnMadv^^flrem. “If you talk to 
smaller centers, they’ll say they never 
heard of such a thing," said Mark Sauer, a 
doctor at Cohimbia-Presbyterian. 

Some embryos are custom-made by 
doctors, while others have been made by 
doctors for infertile couples and then not 
used. These couples paid for their own 


with more embryos than they needed. 
The clinics offer these embryos to 
people who cannot afford the mare than 
$16,000 it would cost for a single at- 
tempt at pregnancy with sperm and egg 
donors drey select themselves. 

Is there something chil li n g about the 
idea of making embryos on speculation 
and selecting egg and sperm donors ac- 
cording to their looks and education and 
ethnicity? “It does seem like a super : 
market approach to embryos,” said Lon 
Andrews, a professor of law at Oucago- 
Kent College of Law. 

Doctors who treat infertility say the 
questions are beside the point- It s nor- 
mal human nature" to want to choose 
donors of eggs and sperm. Dr- Sana 
said. “Behind closed doors, the most 
liberal-minded people are about as dis- 
criminating as you can get. So don t 
accuse us of playing God. 

The premade embryos appear to in- 
habit ambiguous legal territory, Ms. An- 
drews said. Laws governing spam and 
egg donors vary from state to state, and 
nSny states have no laws.ADd*c ^w 
has not addressed s uch que stions 

o^foT^Vgusrfi^f the 


any knowledge to they 

parents that drives the recruitment of 
Sandcgg donors. Infertihtydmia 

Ken sS 



*» ovan& 

roaring the ovaries swell with ripening 
~ eggs. It is not a totally benign expe- 
rience, said Mitchell Tucker, who is 
scientific director at Reproductive Bio- 
logy Associates in Atlanta. On rare oc- 
casions, be said, (he woman’s ovaries 
become overstimulated. “Her estrogen 
levels go through the roof, and she goes 
into a nonphysiological crisis where you 
get fluid retention,” he added. “In the 
severest cases, the kidneys shat down,” 
and, very rarely, women havedied. 

Dr. Sauer cf Cohnnbia-Presbyterian 
said he creates embryos for. adoption 
when an infertile woman who has se- 
lected and contracted for an egg donor 
suddenly changes her mind In a large 
program like his, with about 150 to 200 
egg donations a year, it is notcmcommon 
for die recipient to bade out at the last 
minute. Dr. Sauer said 

When the recip ient backs out, the egg 
donor is left witn ovaries that are burst- 
jug with eggs, waiting for a final hor- 
mone shot that will allow the-eggs to be 
released. One option is for foe donor to 

Septuplets’ 5th Day 


DES MOINES, Iowa — The world’s 
only known septuplets entered their fifth 
day of life Sunday with six remaining in 
serious condition and the largest, Ken- 
neth, in fair condition after eating Ins 
first meal Saturday. 

Kenneth McCaughey , who was also 
the first of the four brothers and three 
sisters to breathe without mechanical 
help, took food by mouth and continued 
to make progress, hospital officials said. 
His smaller siblings, while still breath- 
ing with foe help of a ventilator, also 
improved, hospital representatives said. 

The fact that Kenneth was eating “is 
just foe latest in the continuing good 
news we’re getting.” said -David Al- 
cxjinder, president of the children’s hos- 
pital that is part of Iowa Methodist Med- 
Ld Center, where the babies were bom 
Wednesday and have remained under 

watchful care ever since. 

A pathology report expected ro show 
whether any of foe babies are identical 
has been delayed, said Sharon Simmons, 
SMior vice president of Iowa MethodisL 
She said the report may nof be completed 
for a 10 ^y 8 - 

fojgo that shot. Her ovaries would then 
shrink from foe size of grapefruits to 
their normal walnut size over the next 
few weeks. 

But, Dr. Saner said, “it would be a i 
waste of eggs not to retrieve them.” So j 
he gives the woman foe final hormone 
injection, removes foe eggs and fertilizes 
what may be 20 to 30 ripe eggs with a 
variety of sperm from a commercial 
sperm bank, looking for a donor with 
bloe eyes and one with brown eyes, one 
with dark hair and one who is fair. 

Doctors at other leading infertility 
centers said that it was rare to have 
unused donor eggs. But when they do, 
they too make embryos. 

Kathy Butler, a patient of Dr. Sauer’s, 
-has -a 21-year-old son from her first 
marriage, but when she married Gary 
Butler, they wanted a baby of their own. 
She ran into fertility problems, though. 

Then Dr. Sauer mentioned that mere 
was a small pool of embryos available. 

the Butkxs, who both have Irish an- 
cestors, wanted foe sperm and egg donors- 
to have Irish backgrounds, “or at least 
light hair and light eyes,” Mrs. Butler, 
said. But all foe available embryos had a 
mother who was Italian, with brown hair 
and brown eyes. Five of ber eggs were 
fertilized with sperm from a man of Rus- 
sian, Romanian and Hungarian heritage 
and two others were fertilized with sperm 
from a mao of Welsh background. 

Mrs. Butler, who i s half Welsh, said 
she would have preferred the Welsh 
donor, bat she and her husband decided it 
was mare important to have more em- 
bryos to give themselves agreater chance 
that one would survive. They were told 
they coukl not take some embryos from' 
each batch but instead, had to takeall from 
one donor or the other. So they chose the 
Rnssan-Ro maman- H ungarian father. 
Three of the five embryos survived after 
thawing, and two survival when they 
were put in Mrs. Butler’s uterus. One of 
those split into identical twins, leaving 
Mis. Butler pregnant with triplets. 

“It’s -an adoption, but we have con- 
trol,” Mrs. Butler said. “We don’t have 
to wony about foe birth mother changing 
her mind. We don’t have to wony that 
she’ll take drugs while she’s pregnant.” 

Dr. Saner was not surprised by foe 
Builexs* reaction. In foe few years he has 
been creating embryos, he said, “people 
have been waiting in line to adopt.” 

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South Korea’s Plight Finally Forces Presidential Hopefuls to Talk About It 

By Kevin Sullivan 

Washington Post Service 

SEOUL — ■ The government's de- 
cision to ask the International Monetary 
Fund to bail out its free-falling economy 
has had as unintended side effect It is 
making the candidates in next month’s 
presidential election talk about the depth 
of the country’s turmoil. 

Until now, the three main candidates 
in the Dec. 18 election have mainly 
avoided the issue, even though it has 
been clear for weeks that South Korea, 
the world's 1 1 th- largest economy, was 
in deep trouble. 

Analysts say this is because none of 
the candidates wanted to be the bearer of 
bad news, and none wanted to be the first 
to say, “If you vote forme. I'll raise your 
taxes." With a painful economic re- 
structuring on toe horizon, taxes will 
almost certainly have to increase, and 
bloated industrial conglomerates will 
probably have to lay off workers in a 

land where employment for life long has 
been taken for granted. 

But now, with the election less than a 
month away and South Korean voters in 
shock at me sight of their government 
begging for international assistance, the 
candidates have no choice. Although 
none of the candidates has proposed any 
comprehensive plan for reform, the 
theme of this election has become a 
variation on President Bill Clinton’s 
1992 campaign mantra: For South 
Korean candidates, “It's the stupid 

“These guys are aU scrambling to say 
something useful,” said Ahn Byung 
loon, professor of political science at 
Yonsei University in Seoul. 

This presidential election is a wa- 
tershed in South Korean democracy. 
Campaign finances have been substan- 
tially cleaned up from the appalling 
money politics of the past, ana for the 
first time since die end of South Korea's 
era of military dictatorships, there is no 

governing-party candidate with a virtual 
lock on victory. 

But while issues ore stalling to be 
discussed in televised candidates’ forums 
and other venues. South Korean politics 
is still largely driven by regional loyalties 
and personalities. When candidates 
design strategy, they still look first at the 
• map: Where a candidate comes from has 
usually determined who will vote for him. 
.That kind of thinking has allowed the 
foundering of the economy, which has 
alarmed analysts from Asia to the United 
States to Europe, to remain a back-burner 
topic of political debate — until now. 

“It’s ironic.” said Park Jae Chang, 
professor ai Sookroyung Women's Uni- 
versity in Seoul. “To the outside world, 
the problems were well known. But on 
the domestic scene, people had not been 
alerted. Even in die political arena, no 
one was prepared to deal with this issue, 
so none of the candidates has presented a 
very illuminating solution." 

It is unclear how the economic turmoil 

will affect the race, beyond ensuring that 
all three candidates will be malting many 
pronouncements on it in the next few 
weeks. None of the candidates has sub- 
stantial experience in economics, and 
none is aligned with President Kim 
Young Sam, which would be a political 
liability because many hoe are angry over 
Mr. Kun's handling of the economy. 

Kim Dae Jung, 73, a longtime op- 
position politician, has held a command- 
ing lead in the polls for weeks. If he wins, 
it wonld be the first time in more than 35 
years that the opposition has wrested die 
presidency away from the dominant 

C . A poll taken Friday showed Mr. 

was supported by 38 percent of 
voters, while his two rivals each had the 
support of about 28 or 29 percent 
Of the candidates. Mr. Khn has 
offered the most blunt assessment of tbe 
current economic crash, saying that an 
IMF bailout would be better than drag- 
ging out the problem to “save face." 
Although Mr. Kim is not an econ- 

omist he is running in a partnership with 
Park Tae Joon. the founder of Pohang 
Iron & Steel Co., the world’s second- 
largest steelmaker. Mr. Park’s experience 
running such a large corporation is seen 
as Mr. Kim’s economic ace in the hole. If 
Mr. Kim is elected, it is expected that Mr. 
Park would be his finance minister. 

Lee Hoi Chang, a former Supreme 
Court justice generally running second 
in tbe polls, is also compensating for bis 
own lack of economic credentials by 
sharing the platform with an economic 

Mr. Lee has joined forces with a 
former mayor of Seoul, Cho Soon, a 
respected economist as well as a former 
finance minister and leader of a small 
opposition party. Mr. Cho presumably 
would hold a high post in a government 
formed by Mr. Lee, perhaps that of 
prime minister or finance minister. 

Mr. Lee, nominated, as the candidate 
of the governing New Korea Party, has 
moved to distance himself from Pres- 

ident Kim. Soon after his nomination, 
for example, he called for Mr. K® 1 J® 
resign as party leader. Mr. Kim initially 
refused, but when he finally stepped 
down several weeks ago, Mr. Lee took 
over as party boss. 

■ The third candidate in the race. Rhee 
In Je, a popular former governor, is the 
only one of tbe three with experience 
r unning a government Mr. Rhee de- 
clined to attend a meeting last week 
attended by President Kim and tne other 
candidates. The president bad invited all 
three candidates to the presidential res- 
idence, the Blue House, to inform them 
of his decision to seek an emergency 
bailout from foe IMF. Tbe two wiki 
attended said they supported Mr. Kim s 
derision. ” 

Some here believe Mr. Rhee declined 
to attend to further distance himself from 
President Kim. However, Mr. Park said 
Mr. Rhee was likely to be hurt because 
many people see his party as the “off- 
spring of Kim Young Sam." 

RESCUE: Bailout Taps Dwindling Funds 

Continued from Page 1 

and Mr. Shafer are questioning whether 
the international community can muster 
enough money to finance these huge 
rescues. They also wonder whether the 
vast sums involved are being put to the 
best possible use — or whether, ins tead , 
investors and speculators are getting 
bailed out of unwise investments. 

Theproblem goes well beyond wheth- 
er sufficient funds exist in foe pots of 
money that typically are tapped for such 
rescues — the IMP s “usable re- 
sources,” which total $50 billion, and foe 
hundreds of billions of dollars more in 
foreign currency reserves of rich nations 
including Japan and tbe United States. 

A couple more big rescues like 
Seoul's would start to strain the Fund’s 
financial capacity, analysts said, but for 
now it is sufficiently flush with cash. 

The more pressing question is whether 
the United States and other wealthy coun- 
tries can overcome political resistance to 
tunneling such large amounts of money 
to foreign governments, even though foe 
cash is in foe form of loans that can earn 
a handsome profit — as did Washing- 
ton's $12 billion loan to Mexico. 

South Korea “could break the sys- 
tem," said David Hale of Zorich Kem- 
per Investments in Chicago. “It may 
require the Chinese and Taiwanese to 
work together to come up with enough 
reserves to save the Koreans.' * 

Also troublesome, economists say, is 
whether the huge cash infusions risk cre- 
ating worse crises later by giving lenders, 
investors and government officials the 
impression that no matter bow foolishly 
they behave, a bailout will save them. 

“Obviously, if you don’t provide 
enough, you risk that foe financial crisis 
worsens," Mr. Goldstein said. “Butyou 
don't want to provide so much money 
dial absolutely anybody who’s lent 
money to these countries, or their in- 
stitutions, walks away whole. That des- 
troys the discipline of the market” 

The rationale for rescuing an economy 
such as South Korea's is fairly straight- 
forward: In an increasingly globalized 
economy, economic and financial prob- 
lems in one nation spill over to others. 

Mr. Lim was strikingly blunt in ap- 
pealing for aid, warning that the world's 
richest countries would pay a stiff price if 

foe economy of his country imploded. 
South Korea, be noted pointedly, is foe 
fiffo-largest market for U.S- exports, and 
if its banks were unable to pay their debts, 
Japanese banks — which mid lent heavily 
to them — would suffer even worse bad- 
loan problems than they have already. 

In South Korea’s case, foe stand-off 
with North Korea is an additional factor 
making foe Clinton administration de- 
termined to avoid an economic calamity. 
The communist North is suffering from a 
severe famine, and one worry cited by 
foreign-policy experts is that Pyongyang 
might be tempted to become more con- 
frontational if it sensed its ideological 
rivals in Seoul were weakening. 

David Rothkopf, a mana g in g director 
at Kissinger Associates, an international 
consulting firm in Washington, said: 
“Think about foe consequences if South 
Korea goes into recession, and North 
Korea hits the wall economically and we 
have to deal with Korean reunification at 
a time when South Korea can’t pay fra- it. 
Every estimate I’ve heard is that rebuild- 
ing North Korea is going to cost a lot 
more than rebuilding East Germany." 

Even in the absence of such geopol- 
itical concerns, a critical argument in fa- 
vor of IMF-led rescues is that they induce 
troubled countries to reform their eco- 
nomic policies and eliminate waste, in- 
efficiencies and impediments to growth. 

Tbe Fund insists on such “condition- 
ality" before advancing money. In South 
Korea’s case, economists expect the Fund 
to require Seoul to discipline a banking 
system that lent massively to companies 
and industries that the government 
viewed as economically strategic, with 
little regard for their profitability. 

Ideally, what happens after a rescue 
plan is that foreign investors become so 
impressed with foe changes that they rush 
baqk into the country, renewing short- 
term credit lines and pouring money into 
stocks, bonds and factories. Often, as in 
Mexico’s case, much of the billions of 
dollars in IMF and other donor money is 
never actually drawn down, but simply 
remains available on a standby basis. 

“The central point in these kinds of 
things is foe restoration of confidence,” 
said William Cline, chief economist at 
tbe Institute of International Finance, an 
organization of financial institutions that 
invests in emerging markets. 

A sailor on the aircraft carrier Nimitz watching as the George Washington cruised by in the Gulf on Sunday. 

IRAQ: U.S. Insists on UN Access to All Sites , Including Palaces 

KOREA: Souths National Pride Bruised 

Continued from Page 1 

hating. Despite the splashy displays of 
blinking happily on 
tores, Seoul 

spire tt 
Christmas tights 
Seoul's glitzy department stores, 
was a dark place Saturday. 

The mood changed virtually 
overnight. Following Friday’s IMF an- 
nouncement. a television network de- 
voted a lengthy portion of its evening 
programming to explaining how foe fi- 
nancial crisis had happened and what 
might be expected in the future. 

“Last week people didn’t know any- 
thing about foe IMF, they didn’t know 
anything about the dollar, but now they 
see this is a big problem,” said Kang Jin, 
also an antiques dealer in Itaewon. ‘ ‘Our 
country is bankrupt. It’s crazy.” 

The economic crisis comes less than a 
month before the Dec. 18 presidential 
election. Until now, the three main can- 
didates had barely discussed the eco- 
nomic crisis. Nobody wanted to break 
the bad news. But now that it is out. foe 
issue is expected to dominate foe rest of 
the campaign. Analysts said it is too 
soon to tell if any of the candidates will 
benefit politically. 

South Korea also is preparing to begin 
peace talks with North Korea, with foe 
United States and China also partic- 
ipating. South Korea’s trump card with 
the Stalinist North always has been its 
booming economy. Admitting its woes 
io its arch-rival in the North willbe 
humiliating. And many here say foe situ- 
ation could pose a military threat: If 
North Korea senses that the South is 
weakened, it might be tempted into mil- 
itary provocations. 

South Korea is in for some serious 
belt-tightening. Already the country has 
experienced a record string of bank- 
ruptcies, and many fear the worst is to 
come. As foe government and industry 
arc restructured. South Korean workers 
could face layoffs — something vir- 
tually unheard of here. When that hap- 
pens. powerful trade unions are likely to 
strike, causing further turmoil. 

People already have shown their will- 
ingness to cut back on foreign goods, 
which have become a symbol of excess. 
Mr. Pack, the shop owner, said that from 
the government to industry to individu- 
als. too many South Koreans have been 
spending beyond their means. Much is 
unnecessary, whether massive public 
works projects to flaunt South Korea’s 
economic muscle, or cell phones and 
designer clothes that cost young people 
most of their income, he said. 

"they were Dying to do everything 

quickly; they wanted to show everyone 
what they had,” Mr. Pack said. “But if 
you are rich and smart and good, you don’t 
have to be showy. Everyone will know.” 

In his somber speech. President Kim 
asked businesses to curb borrowing and 

Continued from Page 1 

sanctions being lifted. There's absolutely 
no reason to do that'” U.S. officials have 
emphasized that foe crisis is not over, 
because Iraq continues to withhold ac- 
cess to 63 sites, including Mr. Saddam's 
47 presidential compounds. Mr. Cohen 
spoke of a “pattern of deception and lies, 
deceits and cover-ups” including con- 
cealment of biological and chemical 
weapons that could kill millions- 

“ We don’t know at this point whether 
he simply has had a change of tactics or 
a change of heart,” Mr. Cohen said. 
“Based on past experience, I suspect it’s 
more a change of tactics.” 

In a later appearance on CNN, Mr. 
Cohen said foe crisis with Iraq, which 
led to a huge U.S. military buildup in the 
region in foe last three weeks, was “not 
over by any means.” 

UN weapons inspectors resumed their 
work Saturday after a three-week stand- 
off sparked by Iraq’s demand that Amer- 
icans be removed from the team. Mr. 
Sahhaf. the Iraqi foreign minister, said 
Sunday in Baghdad that foe inspectors 
“should avoid coming near sites which 

Iraq’s claims had to be verified because, 
he said, such claims had proved untrue in 
foe past “We need access to a whole 
range of sites, persons and documents in 
Iraq in order to verify their version of foe 
tram,’ ’ he said on-NBC, 

On Sunday, the UN monitors, num- 
bering 70 to 80. spread out in and around 
Baghdad to search nine suspected arms 
sites on their second day at work after a 
24-day break. The 75 inspectors — who 
included four Americans — found noth- 
ing illegal in a daylong search, said 
Hussam Mohammed Amin, the chief 
liaison officer between the inspectors 
and the government in Baghdad. 

Nils Carlstrom, head of the inspection 
teams, did not comment on foe outcome 
of the search, saying only: “We have 
had clear access into the sites without 
problems." (Reuters. AP) 

■ Clinton Tells Yeltsin ‘No’ 

John M. Coshko cf The Washington 
Post reported earlier from the United 
Nations, New York: 

The differences between Russia and 
foe United States over how unyielding 
foe United Nations should be were also 

As described by senior U.S. officials, 
Mr. Yeltsin urged Mr. Clinton on Sat- 
urday to agree to a timetable for lifting the 
sanctions because of tbe suffering they 
have caused tbe Iraqipeople. Mr. CKn- 
ton’s response, one official said, cooklbe 
summed up in two words, “No way I” 
At the United Nations. Russia had 
sought to pave tbe way for relaxing tbe 
sanctions by gening the UN commission 
to adopt a less rigorous approach to its 
search for hidden Iraqi weapons pro- 
grams. Mr. Yeltsin’s government had 
promised to seek greater flexibility for 
Iraq after Mr. Saddam agreed last week 
•to reverse his expulsion of Americans on 
the UN inspection team. 

Although tbe inspectors resumed their 
field operations in Iraq without incident 
or interference from Iraqi officials, dif- 
ferences between Washington and Mos- 
cow - indicated that the international 
community had not agreed on foe next 
steps with regard to Baghdad.- 
“Tbere is no chance sanctions will be 
lifted; that is die American position,” 
said Mr. Richardson, the U.S. repre- 
sentative to foe United Nations. 

“Saddam Hussein has blinked,” he 


Brokerage’s Collapse 

Continued from Page 1 

body-blow effect on tbe yen,” said 
Takeshi Hanai, bead of foreign ex- 
change at Industrial Bank of Japan Ltd. 

A Finance Ministry official said Sat- 
urday that Yamaichi had concealed more 
than 200 billion yen ($1.6 billion) of 
debts, some of which may be from illegal 
stock trades. If that is foe full extent of 
the problem, one industry source said, a 
“white knight” rescuer might be found 
to pick up at least some of the pieces. 

But there were worries foe damage 
may be much larger, with possibly 1 
' trillion yen ($7.9 billion) accumulated 
from illegal deals since foe 1980s. 

“Y amaichi lost the most important 
thingfor a financial institution: trust from 
all nf foe financial mar kets,” said Yoshi- 
hflro Kobayashi, manager for foreign ex- 
change at Credit Suisse First Boston. 

Once Yamaichi submits its applica- 
tion to close, the Finance Ministry is 
expected to order foe brokerage to sus- 
pend some of its operations, such as 
soliciting new customers. Nikkei Eng- 
lish News repotted. The ministry will 
then begin an investigation into Yamai- 
chi’s financial condition, foe report 

Finance Minister Hiroshi Mitsuzuka 
canceled other appointments to deal 
with Yamaichi, a Japanese household 
name than has a staff of 7,500 at home 
and in 33 branches abroad. 

At its core, the liquidity crunch faced 
by Yamaichi has been driven by concern 
that creditors cannot determine just how 
large the brokerage's losses could be- 
come, analysis said. 

“It’s a story of lack of sufficient dis- 
closure and supervision,” said James 
Fiorillo, senior banking analyst at ING 
Barings in Tokyo. 

Japan’s securities watchdog, the Se- 
curities and Exchange Surveillance 
Commission, is investigating whether 
Yamaichi *s undeclared debts stem from 
illegal tobashi stock operations, Japa- 
nese newspapers reported. 

. Tobashi refers to a practice in which 
securities companies repurchase from 
corporate customers stocks and bonds 
that have dropped in value to help foe 
companies conceal investment losses. 
Tbe brokerage passes them on, for more 
than their market value, to another com- 
pany that will report its earnings on a 
different date. 

That third party receives incentives 
from foe broker such as a guarantee of 
reimbursement for stock-trading losses 
or a pledge of future favors. The practice 
is a violation of the Securities and Ex- 




Israel Vows to Step Up 
Jerusalem Settlement 

Ci*v*M ftr Sktf Fnmi Dtyxackn 

JERUSALEM — Prime Minister 
Benjamin Netanyahu on Sunday prom- 
ised more Jewish settlement in East 
Jerusalem in response to the killing of a 
religious student by suspected Pales- 
tinian militants. 

Binned iately after his speech, a settler 
group began preparations to take over a 
house in the Arab quarter of Jerusalem's 
walled Old City, where the slain student 

Math Dan, head of the Ateret Co- 
hanim settlers group, said. “We found 
18 places and in these 18 places we 
decided overnight to begin refurbishing 
them in order to settle in die coming year, 
with God's help, 18 more families.'' 

, ^ The seminary student, Gabriel Hirsh- 
i ' berg, 26, was shot and killed and an- 
‘ v other student was seriously wounded 
just after midnight Thursday as they left 
the Ateret Cohaiiim seminary in Arab 

Mr. Dan spoke at-the seminary with 
Mr. Netanyahu sitting by his side in a 
show of support for the settlers' presence 
in the heart of Arab East Jerusalem. 

“We will bless the memory of Gobi 
with building in Jerusalem,” Mr. Net- 
anyahu said. “ We will honor the memory 
of Gabi by our settlement of Jerusalem 

and our development and building.” 

A few hours laxer the police said that 
students from the seminary had showed 
up at a house in the Old City that they 
asserted belonged to Jews. They talked 
to a police commander and left before 
about 20 Arabs arrived. Police preven- 
ted the Arabs from entering the nouse. 

The Palestinian information minister, 
Yasser Abed Rabbo, said that new 
building in East Jerusalem threatened 
the Israel-Palestinian peace agreements 
and “die whole peace process." 

“It’s another serious violation by the 
Israeli government of the peace pro- 
cess,” he said. 

Israeli news reports said Sunday that 
President Bill Clinton was angry with 
Mr. Netanyahu for failing to meet a U.S. 
demand for a “time-out” in construc- 
tion of Jewish settlements. 

Reports in the newspapers Ma’ariv 
and Yedioth Ahronoth and on Israeli 
radio quoted sources in Washington and 
Jerusalem as saying that Mr. Netanyahu 
had made a commitment on a time-out 
but had failed to keep it 

But at a cabinet meeting Sunday, Mr. 
Netanyahu “emphasized that he had 
never made any commitment regarding 
the freezing of settlements,” a cabinet 
statement said. (AP. Reuters } 

Mubarak Slams Britain 
For ‘Protecting 9 Militants 


, • "* •P*' ^ 

Andre DmnVAcencc Fnnoc-Pm 

Israeli border police standing guard on a rooftop in East Jerusalem 
Sunday as Prime Minister Benjamin Netanyahu visited the Arab quarter. 

Omvltoibj Ov Stiff From Db/mckn 

CAIRO — President Hosni Mubarak 
of Egypt cm Sunday assailed countries 
that he said gave shelter to fugitive 
Islamic militants, asserting that they en- 
couraged attacks like the massacre in 
Luxor last week of 58 tourists. 

“If you do not want your sons to be 
killed, why do you protect killers?” Mr. 
Mubarak said to reporters in the south- 
ern tourist resort of Aswan, where he 
was opening the Nubia Museum, 
“There are people, who carried out 
crimes and who were sentenced in Egypt, 
who live on British land and in other 
states such as Afghanistan, 11 he said. , 
He said if the world cooperated 
against Islamic militants , the Luxor 
massacre would not have taken place, 
“but the terrorists are protected by a 
country like England.” 

Egypt has often complained that 
Western governments shelter Egyptian 
militants who are fleeing court sentences 
and that those fugitives are pulling die 
strings of comrades back home. 

’ One prominent militant, Yasser el 
Seen, who faces a death sentence in 
Egypt for the attempted murder in 1993 
ofthen Prime Minister Atef Sedki, has 
lived in Britain since 1994. He asserted 
Friday that violence by .the Egyptian 
state provoked the Luxor ma&acre. 

Referring directly to Mr. Semi's re- 
marks, Mir. Mubarak asked: “Why give 
refuge to murderers and protect them? 

™s criticism was echoed in the Cairo 
media Sunday. The government news- 
paper A1 Akhbar called on Britain to 
stop sheltering leaders of militant 
groups in die light of the missacre. 

The Cairo media have also accused 
Switzerland, the Scandinavian states, 
Sudan, Pakistan and Afghanistan of shel- 
tering militant leaders. 

In London, officials vehemently re- 
jected the accusations Sunday that Bri- 
tain was harboring Islamic terrorists. 
“We’re not protecting terrorists,’ ' a 
Home Office spokesman said. “We un- 
reservedly condemn all forms of ter- 
rorism. We are committed to t akin g 
action against anyone who uses the 
United Kingdom as a base for terrorist 
activity elsewhere. ” ( Reuters . AFP) 

■ 2 Bodies Not Swiss, Zurich Says 

Two of the 36 bodies sent back to 
Switzerland from Egypt after the 
killing s outside Luxor last week are not 
Swiss, Reuters reported Sunday from 
Zurich. A Swiss Foreign Ministry 
spokeswoman said Zurich's -Institute 
for Forensics had concluded that the two 
bodies did not match passports sent 
back with them. 

Police L ink Found 
In Argentine Blast 

By Calvin Sims 

Nr» Yurt Times Service 

BUENOjj AIRES — In the 
three years ^ince the bombing 
of a Jewish community center 
here killed 87 people and 
wounded hundreds, the gov- 
ernment has made little pro- 
gress on identifying those re- 
sponsible for the attack. 

The authorities have said it 
is highly pnlikely they will 
ever catchf the bombers, who 
they say | they believe are 
Muslim militants. But they 
have high hopes of capturing 
what investigators call the 
“local connection” — the 
Argentines who investigators 
say provided the vehicle, ex- 
plosives/ intelligence, immi- 
gration documents and other 
support for the attack. 

NowJin what could be a 
major break in the case, a 
congressional commission 
says it nas uncovered an im- 
portarojlink between the car- 
bomb Attack on July 18, 1994, 
and the Buenos Aires provin- 
cial pdice. 

Congressional investiga- 
tors said the family of a 
former police commander, 
Juan Dose Ribelli, who has 
been charged with supplying 
the vehicle used in the attack 
was given S2.5 million one 
week before the bombing re- 
duced the Argentina Israeli 
Mutial Association commu- 
nity center to a heap of nibble. 
They say they do not know 
where the money came from. 

‘lit is our understanding 
that a large amounr of money 
wa/ paid out near the time of 

I ittack. and that is major 
rids for suspicion.” said 
k Sora. a congressman 
heads the commission 
monitors investigations 
the attack. 

r. Kibelli's father, a re- 
railway worker, gave 
of his five children 
,000 shortly before the 
aing, investigators said, 
Mr. Ribelli's four sib- 
then signed their checks 
*ver to him. While the origin 
if the money is unknown, in- 
vestigators said they believed 
It was payment from terrorists 
for Mr. Ribelli's help. 

J Mr. Ribelli. two deputy 
[commanders and an inspector 
of the provincial police force 
[were arrested last year and 
? charged as accomplices in the 
I bombing. Investigators said 
? the police officers had ob- 
■ tained the van used in the at- 
, tack from a stolen-car “chop 
: shop 1 1 that they had boon reg- 
! ulariy bribed to protect. Mr. 

1 Ribelli and the others deny 
I the charges. 

“This clears! up what 
would have baori Ribelli's 
motive." said Jose Barbac- 
cia, a govemmcjii prosecutor. 
“It’s a very important piece 
of the puzzle that we've tried 

to assemble for three years.” 

In a closed session of tire 
congressional commission 
Thursday, the former police 
chief of Buenos Aires 
Province, Pedro Klodczyk, 
said he believed there was 
enough evidence to prove that 
members of his force had 
taken part in the bombing, 
members of the commission 

Mr. Klodczyk, who retired 
last year, said that under his 
command, the provincial po- 
lice were “out of control” 
and that he knew that many 
officers made extra money il- 
legally, commission mem- 
bers said. Klodczyk called 
Mr. Ribelli a “criminal.” 

Investigators said they 
were trying to determine 
where the $235 million had 
come from. The notary who 
certified the transfer of the 
money by Mr. Ribelli's father 
to his children told the con- 
gressional commission that 
she believed the transaction 
was a money-laundering 

Mr. Ribelli's lawyer has 
said his client will not co- 
operate with the commission 
because he believes the leg- 
islators are biased against 
him. In a letter to the com- 
mission, he said: “I swear on 
the memory of my mother 
who is in heaven that. I am 
innocent. I had nothing to do 
with this attack.” 

Whether the discovery of 
the $2.5 million is a break- 
through in tiie case is un- 

Prosecutors have yet to 
show that the money came 
from terrorists, and it is not 
uncommon in Argentina for 
government and police offi- 
cials to amass large suras of 
money illegally and then de- 
clare publicly that their riches 
are from a family inherit- 

Long before Mr. Ribelli re- 
ceived the $2.5 million from 
his family, he was a rich man, 
having profited from years of 
supervising illegal police ac- 
tivities, investigators said. 
While evidence of his in- 
volvement in the attack is 
largely circumstantial, inves- 
tigators said the case was 
growing stronger. 

Leaders of Argentine Jew- 
ish groups, who have com- 
plained that the investigation 
is moving too slowly, said the 
recent disclosures confirmed 
their suspicions that the pro- 
vincial police were deeply in- 
volved in the attack. 

“No one pays $2.5 million 
only for the delivery of a 
van.” said Ruben Beraja, 
chairman of the Argentine 
Jewish Groups Federation. 
“This payment allows us to 
assume that Ribelli and his 
group had a major involve- 

What [will happen if govern- 
ments ino not agree on limiting 
emissions standards in Kyoto 
in December? 

Don't miss t le IHT Sponsored Section on "EmmmtmLjhi 
Challenge n ( liniaie Chanced on Dec. 1. 1997. The IHT will 
be distnbutfd at the UN Framework Convention on Climate 
Change { K\ >to. Dee. 1 - 1 U). 

For udvertiing rales or a synopsis, fax Bill Mahder in Puis at 
+ 33 - 1 4 | 4102 13, send an e-mail to supplements@Qit.coin or 
contact yoil local IHT representative. 


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Saturday 21:00hrs cet/20:00hrs u> Sunday 23:00hrscet 22:OOhrsuk 









A v 3 : 1 fib's 5 or. C /!;■(• ci. d 

PAGE 10 






Back at Work in Iraq 

Srlbutte. Find and Destroy Saddam’s Biological Weapons 


Thorough Inspection 

With United Nations weapons in- 
spectors back in Iraq and the threat of 
military confrontation in the Gulf re- 
ceding, the Security Council has begun 
to focus on the most urgent next pri- 
ority. At Russia's request, the council is 
considering how the investigators can 
move more effectively toward com- 
pleting their assignment But the ideas 
that the Russians have been putting 
forward for achieving this, based on 
understandings they reached with Iraq 
last week, are exactly the wrong ones. 

They suggest for example, giving 
Iraq an undeserved clean bul of health 
on nuclear weapons and designating 
new inspectors from countries con- 
sidered sympathetic to Iraq, tike Rus- 
sia itself. A big danger here, as our 
colleague W illiam S afire warns on this 
page, is that Russia could txy to impose 
Inspectors who would tip off Baghdad 
about what the UN Special Commis- 
sion is looking for. Instead, the council 
must demand an end to the systematic 
Iraqi evasions, deceptions and obstruc- 
tions that have made the job of tracking 
down and destroying Iraq’s secret ar- 
senal of illegal tenor weapons so dif- 
ficult and time-consuming. 

All council members, including 
Russia and France, have an urgent in- 
terest in halting Saddam Hussein's de- 
termined effort to aim himself with 
deliverable biological, chemical and 
nuclear weapons. That effort appears 
already well advanced and largely 
moving forward in locations that UN 
investigators have been denied access 
to for many months, not just die four 
weeks since Iraq began batting Amer- 
ican members of the UN teams, and all 
inspections stopped. ■ 

The Security Cooncil must back up 
the inspectors’ efforts to track the un- 
accounted-for missiles, germ agents 
and nerve gases that Iraq was known to 
have at the time of the Gulf War and has 
not credibly accounted for. More than 

Russian Mischief 

To tom from the negotiations on 
Iraq to accounts of its production and 
concealment of weapons of mass de- 
struction is to realize the difficulty of 
the encounters that now tie ahead — 
encounters between the United States 
and Russia on the one hand and the 
United States and Iraq on the other. 

Russia, by pressing for die early end 
of sanctions, is inviting a collision with 
America, which is bound to regard the 
sanctions' indefinite continuance as 
critical leverage for continuing arms 
inspections, too. The more so in the 
tight of Washington Post reporter R. 
Jeffrey Smith’s latest account (IHT, 
Nov. 22) of Iraq’s formidable prep- 
arations and deceptions especially re- 
garding biological weapons. 

Saddam Hussein was preparing for 
biological warfare on a scale where the 
potential victims numbered not even in 
the millions but in the billions. Only 26 
of 182 weapons that his officials ad- 
mitted filling with germs have been 
accounted for. Twenty-something 
germ-carrying warheads known to be 
usable in missiles with a range of 600 
kilometers are still the elusive object of 
United Nations pursuit. 

Moscow appears to have made some 
rather glib assurances to Baghdad that 
the end of sanctions is nigh — in six 
months or a year perhaps. But any 
objective look at the scale of Iraq's 
dark ambitions indicates that a tre- 
mendous job of discovery and dis- 
mantling waits to be done. The only 
way the end of sanctions would be nigh 
would be ifsorae private arrangement 
had been made by the unlikely three of 

8300 liters of anthrax remain on- 
tracked. Supplies of anthrax can be mul- 
tiplied and stored indefinitely, and small 
quantities of this germ agent can kill 
more than 100,000 people if dispersed 
under ideal conditions. Fifty-seven tons 
of ingredients for VX nerve gas are still 
loose, along with enough surviving and 
newly built missiles to deliver germ or 
chemical weapons well beyond Iraq’s 
borders, potentially reaching Israel, 
Saudi Arabia, Turkey or Russia. 

The inspectors also need to see the 
m a n uals, supply invoices and physical 
evidence that will tell them what new 
weapons programs Iraq has developed 
since the war. That will require un- 
restricted access to the 230 buildings 
that the UN arms commission has iden- 
tified as likely weapon storage sites. At 
scores of them, Iraq has either denied 
the inspectors entry or delayed long 
enough for any incri minating evidence 
to be removed. 

Inspectors also need access to the 
presidential palaces and to secret po- 
lice, intelligence and Republican 
Guard headquarters in which the com- 
mission believes that doc umentatio n 
for weapons programs is kept Iraq's 
UN ambassador has declared that these 
sites would remain off-limits. Inspect- 
ors must also physically examine un- 
derground locations where missiles 
may be buried out of sight of U-2 or 
satellite cameras. 

Iraq’s brazen effort to bar American 
inspectors backfired, temporarily unit- 
ing the Security Council to demand 
that Iraq back down. But the new Rus- 
sian proposals provide fresh evidence 
that the council cannot be counted on 
to maintain its resolve for long. 

Washington must call on its con- 
siderable political capita] with waver- 
ing countries tike Russia and France to 
assure that the council stands firmly 
and consistently behind an intensified 
inspection effort Restoring the unsat- 
isfactory status quo that existed four 
weeks ago will not be enough. 


America. Russia and Iraq. Any early 
and an earned lifting of sanctions 
would feed the lingering suspicion that 
some kind of an arrangement has in 
fact been made. The Clin ton admin- 
istration emphatically denies it 

Russia’s policy is tricky. In the name 
of deflating armed confrontation, it has 
put its own narrow conventional in- 
fluence-seeking over a joint free- world 
address to a potential menace of hor- 
rific dimensions — the ‘ ‘old thinking’ ’ 
with a vengeance. The U.S. veto in the 
Security Council is there to enforce the 
call for disclosure. Meanwhile, the 
United States must look to Moscow to 
help deliver Saddam Hussein to a due 
respect for UN resolutions. Otherwise, 
Russia should and will pay aprice in its 
standing in the democratic West. 

Dismiss Baghdad's self-serving 
declaration that “eveiything” aside 
from some unimportant documenta- 
tion has been uncovered and dis- 
mantled. The latest accounts of Iraqi 
machinations show that nothing faintly 
like that has happened. 

Saddam Hussein remains the image 
of treachery. Presumably be made use 
of the arms inspectors’ three-week ab- 
sence for purposes of concealment 
With inspections due to resume, it will 
be important to see now whether his 
new Moscow support emboldens him 
to stonewall all the harder. 

If the materials and devices he has 
hidden away are not uncovered, the 
search goes on, meaning that the sanc- 
tions go on, too. If Saddam Hussein 
thought in terms of what would most 
help his country, he would quickly 
come clean. But then, of course, he 
would not be Saddam Hussein. 


Other Comment 

All Depends on Yeltsin 

Everything continues to depend on 
Boris Yeltsin. His illness notwith- 
standing. it will not do for him to adopt 
a passive end-of-regime persona after 
the maimer of Ronald Reagan. Mr. 
Yeltsin must retain and firmly back 
genuine reformers at the top of his 
government, lending them his decree- 
laden weight at critical moments. 

Anatoli Chubais had himself hoped 
for two good years of political calm 
and constancy, so that — come Duma 
elections due in December 1999 and 
the next presidential race in the sum- 
mer of 2000 — reforms would have 
become truly irreversible, with Rus- 

sians even starting to notice their ben- 
efits. If that is not to be. Mr. Yeltsin 
must find the right man to replace Mr. 
Chubais, and then take up the cudgels 
on the new man's behalf. 

— The Economist (London ). . 

Mr. Chubais’s closest aides have 
been fired; he remains deputy prime 
minister but has lost his concurrent job 
as finance minister, and much of his 
clout. The prospects for tax reform, 
military reform, pension reform — for 
things that really matter — have 
plummeted. Russia may be heading for 
another period of drift 

— Fred Hiatt, commenting in 
The Washington Post. 


Itiunv *1111 tm tm w twi mi 





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L ONDON — If Saddam Hussein’s 
intention was to exploit division 
among the permanent members of the 
UN Security Council, the crisis he pro- 
voked has proved counterproductive. In 
the end, Russia and France rejoined the 
Uniied States and Britain in insisting 
that he let the UN inspection teams 
resume their search for weapons of 
mass destruction, and he backed down. 

Or so it seems. If the inspectors can in 
fact do their work effectively, this, 
chapter in the unending effort to contain 
Saddam will have ended successfully. 

For a time the strategy of division 
appeared to be working. When Russia 
ana France objected to a threat of force, 
the Security Council adopted a reso- 
lution merely banning travel by Iraqi 
officials and calling for unspecified 
“further action” if Saddam did not 
rescind his order to expel American 
members of the inspection team. Russia 
suggested that the council might have to 
take a fresh look at the team’s work. 

America and Britain then began a 
major buildup of ships and planes in the 
Gulf region. The saber rattling was 
probably aimed as much at Russia and 
France as at Iraq. If so, it worked. 

By Anthony Lewis 

Alarmed at the possibility of military 
conflict, the Russian government led a 
diplomatic effort that confronted Sad- 
dam with a united demand for com- 
pliance with the inspection rules. 

Foreign Minister Yevgeni Primakov 
negotiated a draft agreement with Tariq 
Aziz. Iraq’s deputy prime minister. Mr. 
Primakov then met in Geneva with the 
foreign ministers of the United States, 
Britain and France and a Chinese dip- 
lomat. When he was asked to toughen 
the wording of the draft, he did. 

The crisis had begun on Oct. 29, 
when Saddam ordered American in- 
spectors expelled. Now he seems like 
the grand old Duke of York in the 
English nursery rhyme, who had 
10,000 men. marched them up to the 
top of the hill and marched them down 
again. Why would Saddam do that? 

He may have miscalculated. .Or per- 
haps the inspectors were getting close to 
concealed weapons, and be wanted time 
to put them in new hiding places. If so, 
they were probably biological weapons, 
the one area where the UN disarmament 

commission says K has made no pro- 
gress in discovering Iraqi capacity, 
much less destroying the weapons. 

The terrifying fact is that biological 
weapons can be made in small rooms, 
extremely hard to find. Iraq has un- 
doubtedly experimented with them. 
And Saddam Hussein, who used 
deadly chemicals against his own 
people, would surely have no com- 
punction about using biological agents. 
They present a continuing challenge to 
the inspectors, and to the world. 

Bill Clinton and Madeleine Albright 
have come out of this crisis — if it 
really is over — with credit earned for 
their resolution But there are a number 
of lessons for the United States. 

First, the United States had drifted 
too far from some of its Gulf war allies 
on the Iraqi aims issue. Mr. Clinton 
said that sanctions on Iraq should never 
be lifted as long as Saddam was there, a 
position that, however appealing, was 
not part of the agreement at the end of 
the Gulf War and is unacceptable to 
other governments. Mr. Clinton has 
more recently dropped that language. 
He still needs to spell out what it would 
take to lift sanctions. 

Second, the United States should take 
care not to let the Iraqi anus issue look 
like just a test of strength with Saddam. 
The real issue is the potential existence 
of weapons - of mass des traction in fee 
hands Of a vicious tyrant The United 
States took too long to make that clear. 

Third, the events of the last three 
weeks have made dramatically clear 
how much American credibility is hurt 
in the Arab world by the unraveling of 
hopes for Israeti-Palestouan peace. 

Arab rrffteinfo and intellectuals on the 
whole have no illusions about Saddam 
Hussein's malign character. But they 
note that sanctions are imposed and en- 
forced on Iraq fra 1 its Violations of Se- 
curity Council resolutions, while Israel 
defies resolutions without facing any 
sanctions. And Arabs think that Amer- 
ica is the reason fra - flic difference. 

Mr. Clinton and Mrs. Albright well 
know the price the United States pays 
for Prime Minister Benjamin Netan- 
yahu’s sabotaging of the Oslo peace 
accords. But knowing and acting are 
different If they learn from these three 
weeks, they will act to move Mr. Net- 
anyahu toward peace. 

The New York Times. 

Beware Russian Sabotage of the UN Inspection Effort 

Bill Clinton continues to 
pretend that no concession has 
been made to Iraq, Saddam 
Hussein has arranged with 
Russia's Yevgeni Primakov to 
remove the element of surprise 
from the LIN Special Commis- 
sion's searches for long-con- 
cealed germ warfare facilities. 

The key is In Mr. Prima- 
kov’s statement, swallowed 
whole by Clinton officials, that 
he negotiated an agreement to 
make inspections “more ef- 
fective.” In Orwellese, that 
means penetrating the UN 
team with Russian spies. 

Mr. Primakov, lest we for- 
get, is the world's most ex- 
perienced spymaster. As a 
KGB agent m his youth, he 
learned Arabic, improved his 
image by changing his name 
from Finkelstein to the Ukrain- 
ian word for “stepson,” and 
aligned himself with a ruthless 
Arab rising. star. 

When Saddam Hussein in- 
vaded Kuwait, it was the 
KGB’s Mr. Primakov who 

By William Safire 

worked frantically in Moscow 
and Baghdad to prevent the 
U.S. intervention. When Boris 
Yeltsin appointed him foreign 
minister to replace a pro- West- 
erner, he moved quickly to 
help his friend Saddam anti- 
cipate inspections that might 
interrupt secret Iraqi work on 
terror weapons. 

However, the Russians on 
the UN team — in New York 
and in the field in Iraq — had 
been recruited by officials who 
wanted only inspectors who 
took seriously the UN mission 
to enforce Iraq's agreement to 
destroy weapons. These in- 
cluded Russian Army veterans 
f amiliar with germ war. 

Here is news the White 
House does dot know: When 
Mr. Primakov threatened the 
livelihood of Russians who did 
not cooperate in sharing in- 
formation, UN officials put the 
most vulnerable on the UN 
payrolL Frustrated, Russia's 
spymaster-diplomat has re- 

cently had consular underlings 
threaten to pull certain of their 
nationals’ passports. 

Espionage adage: When 
penetration fails, accuse the 
other side of trying to penetrate. 
As UN inspections focused on 
the toxicological work of Iraq's 
“Dr. Germs," Rihab Tana, 
Saddam Hussein accused the 
U.S. nationals oh the inspection 
team of being CIA spies. 

Saddam knew be could not 
permanently bar inspections 
without inviting a substantial 
military strike. But by kicking 
over the traces, and complain- 
ing about U.S. spying,- Saddam 
and Primakov hoped to recon- 
stitute the UN team that was 
giving them trouble. 

It. is working. President 
Clinton fell for it. In a meeting 
reminiscent of Molotov and 
▼on Ribbeotrop, Mr. Primakov 
and Tariq Aziz agreed to 
“more effective” inspection. 
America's UN delegate hastily 
declared that Saddam had 

“blinked,” Mr. Clinton’s na- 
tional security adviser insisted 
that “no concession was 
.made,” and Mr. Clinton hailed 
his own “achievement” . 

Forget about the U.S. con- 
cession to increase Iraqi oil 
sales by 30 percent Much 
more dangerous appeasement 
is to allow Mr. Pnmakov to 
reshuffle the inspection deck. 

Expect Russians not pre- 
pared to tip off Moscow to 
sensitive inspections to be 
“rotated.” Expect the naming 
of a new executive committee 
to “make more effective” the 
commission’s plans, and to re- 
veal the names of team leaders 
on specific missions. Expect 
Rachel Davies, a tough- 
minded Briton at the special 
commission's Information As- 
sessment Services in New 
York, to be replaced or find her 
office “reinforced." 

As .Mr. Primakov’s penet- 
ration proceeds, Mr. Clinton 
will continue to strike his res- 
olute pose. Television cameras 
will snow the U.S . carrier force 

churning about Rattled State 
Department aides will keep 
hinting, in effect, that if only 
the Israelis would hand over 
East Jerusalem, the Arab world 
would join an anti-Saddam co- 
alition overnight 

But spymaster Ffrimakov is 
good at penetration; Saddam 
has an unlimi ted budget to buy 
secrets; the United Nations has 
no counterintelligence capa- 
city. So the compromising of 
inspections is a clear danger. 

Because few (violations 
would then be found, Russia 
and France would toss Mr. 

Clinton a multilateral. Expect 
him to declare peaqe in our 
time and accede to the fraying 
of sanctions. 1 

“We must not let bur chil- 
dren be exposed” to germ war 
terror, intones Mr. Qulton. But 
unless Mr. Primakov’s subver- 
sion of in s pection is ^topped, 
even tins generation will be so 
exposed. And this president 
will be remembered as be man 
who let it happen. I 

The New York Time A 

erm war 
ton. But 

Threats to World Economic Growth Are Multiply! 

N EW YORK — Emerging 
markets are being hit hard 
across the world with rising in- 
terest rates and falling curren- 
cies and stock markets. The 
latest casualties are Russia, 
South Korea and Brazil.. The re- 
cent conventional wisdom chat 
problems would be confined to 
the Asian tigers has been proved 
dramatically wrong. 

Now the assumption is feat" 
whatever happens in develop- 
ing countries, the impact on the 
United States and the European 
Union will be modest This 
equally is likely to be proved 
too optimistic, as highly lever- 
aged financial positions are rap- 
idly unwound in market after 
market intensifying die risk of 
bank defaults. 

For example, market attention 
is being focused on the fact that 
South Korean banks are heavy 
holders of Russian and Brazilian 
paper that has fallen sharply in 
price. Similarly, Brazilian banks 
have invested large amounts in 

By Geoffrey Bell 

Russian paper, and there are 
countless examples of banks in 
one emerging market investing 
in assets in others. 

The common theme has been 
that borrowing has been easy, 
and to compensate for paying a 
higjh spread for these fends fi- 
nancial institutions have inves- 
ted m yet higher yielding paper 
somewhere else. But these po- 
sitions are Jin winding fast in a 
scramble to raise cash, so. that 
pressure in one country quickly 
causes a plunge in debt prices of 
another country. 

The deep-seated economic 
problems of Thailand, Malay- 
sia, South Korea and others are 
causing market problems in 
Russia and Latin America, 
which, through rising interest 
rates, are leading to economic 
strains. Governments are being 
forced to introduce budget pack- 
ages tightening fiscal policy. 

At the same time, banks that 

have been large traders of in- 
ternational securities are faced 
with big losses and mounting 
liquidity pressures. This new 
path of global contagion shows 
no sign of abating. 

The end result will be a sharp 
economic slowdown in South- 
east Asia, and the chances are 
that the flow of new money to 
most emerging markets will be 
cut in 1998. Already, new bond 
issues are being canceled and 
capital market activity has 
ground to a halt 

Southeast Asian growth 
could fell to 1 to 2 percent in 
1998, compared with 6 to 7 per- 
cent in the first half of 1 997, and 
growth in South America will 
be adversely affected, espe- 
cially in Brazil. This in turn will 
heighten competition for export 
markets, given the vast over- 
capacity in Southeast Asia. 

If the cycle stopped at that 
point, the general view is that 

ers of the 18 members of 
the Asia-Pacific Economic Co- 
operation forum meet in Van- 
couver this Monday and Tues- 
day for the group’s most 
important summit With Asia in 
economic turmoil, the challenge 
will be to contribute to financial 
stability and trade growth. 

It is the first time since APEC 
was established in 1989 that its 
annual meeting occurs when 
confidence has been so badly 
shaken in the Asian economic 

South Korea has joined Thai- 
land, the Philippines and In- 
donesia in seeking help from 
the IMF, while Japan's fourtb- 
largest brokerage, Yamaichi 
Securities, is expected to an- 
nounce on Monday that it is 
going into liquidation after 
heavy losses. 

South Korea has the world's 
11 -largest economy, and its 
problems will have a significant ' 
impact on Japan and prompt 
competitive devaluations else- 
where that could produce fur- 
ther strains. 

The stakes for APEC, which 
accounts for nearly half of 
world trade, are high. Asia’s 
problems have already had 
some impact on world markets. 
The challenge for APEC lead- 
ers is to demonstrate that they 
are relevant and competent. 

The three main actions under 
consideration are enhanced fi- 
nancial market cooperation, 
moves to encourage a global 
agreement next moath to lib- 
eralize financial services, and 

By Douglas Paal 

identifying priority sectors for 
farther voluntary trade liberal- 
ization by APEC members. 

Finance Ministry and central 
bank deputies from 12 of the 
APEC economies met in Ma- 
nila last week to shape specific 
recommendations. They agreed 
on a new framework for re- 
gional cooperation, which in- 
cludes a mechanism for policy 
surveillance, technical cooper- ' 
ation to strengthen financial 
systems and regulatory capa- 
bilities, measures to strengthen 
the IMF's capacity to respond 
to crises, and a cooperative fi- 
nancing arrangement to supple- 
ment IMF funds in Asia. 

Japan's proposal for a $100 
billion “Asian Monetary 
Fund” was not mentioned, after 
concerns expressed by the 
United States, the IMF and 
some Asian governments that 
an independent regional fend 
would undermine the effective- 
ness of IMF programs, under 
which loans are provided in ex- 
change for reforms. 

Philippine President Fidel 
Ramos will take the Manila 
meeting's recommendations to 
Vancouver, where APEC lead- 
ers will, likely refine and .en- 
dorse them. Such a move would 
represent a significant political 
commitment to an agreed 
strategy. Implementation will 
then shift to the IMF and to the 
initial meeting of the new re- 
gional surveillance group in 
Tokyo early next year. 

Until recently, the financial 
turmoil that started in Southeast 
Asia appeared likely to doom 
the financial services negoti- 
ations in Geneva under the aus- 
pices of the World Trade Or- 
ganization, because it was 
feared that affected govern- 
ments would be unw illing in 
such difficult times to liberalize 
their banking and insurance 
sectors. Now Malaysia, Thai- 
land, Indonesia and others are 
presenting new offers in 
Geneva which give some hope 
that a deal can be reached by the 
Dec. 12 deadline. 

APEC leaders could give 
these negotiations a decisive 
boost, just as they played a key 
role in achieving the WTO In- 
formation Technology Agree- 
ment last year. The United 
States is still insisting on im- 
proved offers from a critical 
mass of countries, particularly 
Malaysia and Brazil. But Wash- 
ington is showing flexibility by 
offering longer phase-in peri- 
ods for developing countries. 

If the Vancouver s ummi t can 
reach agreement on such key 
finan cial and trade issues, it 
would send a reassuring mes- 
sage to the markets of APEC’s 
commitment to develop the 
sound policies and institutions 
that mast be part of restoring 
East Asia's economic health. 

. The writer, a former official 
in the Bush administration, 
heads the Asia Pacific Policy 
Center in Washington. He con- 
tributed this comment to the In- 
ternational Herald Tribune. ■ 

the impact on the United States 
and Europe would be relatively 
modest Corporations will be 
facing more competition for ex- 
ports, but it will be cheaper to 
produce in emerging markets. 
Consumers will definitely ben- 
efit through lower import 
prices, and there seems no di- 
rect reason why this should se- 
riously affect stock markets. 

But this picture may be too 
rosy, given what is happening in 
Japan and die possibility of 
slower growth on both sides of 
the Atlantic during 1998. 

Even before the crisis erup- 
ted in Thailand, the Japanese 
economy had virtually stopped 
growing, and now the prospects 
of arecession are reaL Banks 
are facing more bad debts, and 
large portions of Japanese ex- 
port markets have disappeared, 
although exports will become 
even more competitive with a 
lower yen. 1 

Most importantly, the specter 
of the world’s second-largest 
economy sliding into recession 
is not good news, especially if 
Japan’s financial sector prob- 
lems multiply. 

Paradoxically, the feet that 
growth is so strong in the 
United States and accelerating 
in Western Europe is not good 
news for stock markets. 

The U.S. economy is cur- 
rently growing at almost 4 per- 
cent, with unemployment at 4.7 
percent and the labor market 
tightening. Despite these pres- 
sures, the conventional wisdom 
on Wall Street is that there is no 
way the Federal Reserve can 
raise interest rates in the current 

unstable financial environment. 
Any action by the Fed would 
risk a sharp market falLI 

But if the economy continues 
to grow at this rate, or uiless it 
slows down of its own accord, 
the Fed will eventually have to 
raise interest rates. 

Either way, the U.S. econo- 
my will have to decelerate in 
1998 just when foreign jeom- 
petitioa will be very strong and 
the downward pressure on 
prices even greater. The inpact 
on profit ma rgins could ba sig- 
nificant, leading to a re&sjess- 
ment of stock market values. 

In Europe, the Bundesbank 
and the Bank of England qave 
not waited to raise interest rates. 
The British economy is expand- 
ing at around 4 percent, Ind 
growth in the EU is finally be- 
ginning to accelerate, with a 
projected GDP increase of 3 
percent in 1998. The gene d 
expectation is that the Bundt ;- 
bank will raise interest rates st 1 
higher in preparation for intr - 
duction of the euro. 

The risk is that this could tail; 
place just when the Europea i 
export performance is taitin 
off because of a general slowin 
of the world economy. 

All of these factors add up tt 
the fact that risks to world 
growth are multiplying. Thd 
consequences of the emerging 
market crisis are turning out to 
be dealer and more widespread 
than almost anyone expected. 

The writer, head of a New 
York-based financial con- 
sultancy, contributed this to die 
International Herald Tribune. 


1897: China a Nation? Democrats in opposing the 

LONDON — The Globe says: 
“The occupation of the bay of 
Kiao-Chau by Germany will 
probably mack the beginning of 
what we have all along predicted 
would sooner or later take place, 
that is, fee partition of China 
among the Powers. Giiaa, in the 
natural order of things, cannot 
go on for long as an independent 
Empire, or even as a nation. In 
feet, if is not a nation; it is pop- 
ulated by peoples of different 
races, whose maimers, customs, 
habits of thought and even lan- 
guage are quite different.” 

1922: - Racial Dispute 

WASHINGTON — President 
Harding has stored up a hor- 
nets’ nest by no m in at ing Walter 
D. Cohen an ensign in me Coast 
Guard Service at New Orleans. 
Cohen is a negro, and the “lily 
white” element of the Repub- 
lican party is ready to aid the 

nomination. St 
of Louisiana, is 
position and dj 
President prof 
would name no 
eral office in Lc 

uator Randsell, 
leading the op- 
blares that the 
lised hhn he 
negroes to Fed- 

1947: SchdnanWms 

PARIS — Robert Sch ema n 
Minister of Fmaiice for the last 
y ear and a half , wcame Premier 
of France when ke obtained a 
vote of confidencAffom fee Na- 
tional Assembly. W member of 
fee Popular Republican Move- 
ment (MRP), he i icceeded the 
Socialist, Paul Ra nadier, wife 
the support of 11 political 
groups except the Communist 
party. Mr. Schun in obtained 
Assembly appro vj where fee 
veteran Socialist 1 ader, Lfion 
Blum, faffed. He get by because 
he confined his m^isterial at- 
tack to fee Com 
and said nothing a 
Charles de Ganffe 

tost party 
K General 

London: Million-Dollar 
China, Hangover Cures 

T he lights on London's main shopping streets reflect in the eyes of eager 
shoppersas they peruse the top shops’ irresistible selection of “must have" 

How about lying your holiday table for 12 with a brand-new De Lamerie fine 
Engl i s h bone china service, band-painted and embellished with 24-carat gold? 
You can get it a Harrods (Knigfatsbtidge; tel.: 0171 730 1234), still London’s top 
store, for £88^500 (SI .4 million). And it would be childish not to add the 124- 
piece sterlingsflver and gilt cutlery in a forged canteen by CJ. Vander at 

Heavenly hanper 

The one timeof the year when people stop counting calories is the time to get a 
hamper fromFortnum & Mason, London's flagship food store (181 Piccadilly; 
tel.: 0171 731 8040). Not any old hamper, of course, but the top-of-foe-range, 
£2,000 Soveeign Hamper, fit for the table set with De Lamerie china. 

Open the dicker basket and feast your eyes, and then your stomach, on the 
Imperial Beuga caviar, goose liver en croute, royal fillet of smoked Scottish 
salmon anda whole Fortnum’s ham. Ajar of Seggjano char-grilled artichokes 
will be the prfect accompaniment for the whole Colston Babbet Stilton cheese, 

1 and then ya can nibble on glace fruits, Mrs. Gill's 5-kilogram fruit cake and 
English chcolate selection in a velvet box. 

A magnon of Krug Grand Cuvee Champagne, force bottles of fine wine, a 
1 963 vmtaje port and a 22-year-old Bowmore single-malt whisky decanter wiH 
help wash t all down, and a silver-plated Champagne bucket is included. 

The pro*lem of what to do with the leftovers is imaginatively solved by John 

\ r» M nil iplviii, mp > a n: Timeless 

Continued on page B 

New York: Shopping 
Chases the ‘Mean Reds’ 

P icture fur-swathed mannequins flirting through department store windows, 
skaters twirling around the rink at Rockefeller Center, and the giant 
snowflake at 57th Street swinging in foe Arctic breeze. 

Long before foe holiday season hits full blast. New York's Fifth Avenue is 
being wrapped up as a scintillating, skyscraped, multi-blocked gift Despite 
crowds, traffic and increasing Disney- Wamer-Brofoers-Coca-Colafication, foe 
avenue is still a shopper's mecca for those in quest of foe most stylish and 
distinctly New York holiday offerings. 

Where to start 

A good place to begin your pilgrimage is at foe comer of Fifth Ave. and 42nd St 
hi business for more than 60 years, foe family-owned Nat Sherman tobacconist 
is a mahogany-paneled throwback to a kinder, gentler era when those who craved 
a puff didn't have to huddle like fugitives on fire escapes. And although — and 
because — cigars have been the overly vaunted rage of foe past few years (thanks, 
Demi Moore!), far more sleek and unique are the gold-tipped, pastel-hued 
Fantasia Light cigarettes ($45 a case), whose Technicolor stylishness provides foe 
ultimate festive smoke while conjuring up foe graceful silhouette of Audrey 
Hepburn in “Breakfast at Tiffany’s.” 

Protests and frenzied buying 

If Holly Golightly were living in die '90s, however, she might have chased away 
her “mean reds” not at Tiffany’s, but next door, at foe new temple devoted to The 
Swoosh — Nflcetown. Inside foe hallowed minimalist halls of this spoils temple 
at Fifth and 57th Street — where foe faithful can trace 12 years of Michael 

Continued on page IV 

Holiday delights (clockwise from far left): Krug Champagne, 
made the traditional way: a Seiko kinetic watch: the "Cesar ' 
vase by Garouste and Bonetti: skier and skater necklaces 
by MUdmoio: Vivienne Westwoods Christmas tree for 
Galeries Lafayette: Harrods ’ "Guardsman " teddy 
bear; elegant glassware by Muriel Grateau. 

Paris: Fur-Clad Food 
And Luxe Leathers 

P aris’s chic Saint-Germain des-Pres quartier has always been a great place to 
shop, with its variety of boutiques, an galleries and antique shops, but now 
the character of the area is changing with the arrival in foe neighborhood of 
luxury goods names like Louis Vuitton, Cartier and Giorgio Armani (grand 
opening in January 1998). 

For those who hate trudging from store to store searching for just foe right 
Christmas gift, a one-stop shopping sweep is possible at Maison de Famille (29, 
me Saint-Sulpice; tel.: 01 40 46 97 47), which sells everything from household 
accessories and kitchen equipment to men's and women's clothing. 

The store has plenty of quality gift ideas for the man or woman who has 
everything: an old-fashioned teak walking stick with a decorative silver-plated 
handle (275 francs, or $48); a simple, handsome silver snapshot-sized photo 
frame (65 francs); a cheese knife with cut-outs in foe blade that prevent foe cheese 
from sticking to it (229 francs): a simple, filmy white woman's nightshirt (575 
francs) and, at foe opposite extreme, women's cotton long johns (655 francs). 

Or, she can keep warm with a fake-fur-covered hot water bottle (359 francs) 
that also eliminates foe need fora teddy bear. Obviously, fake fur is in this year, 
and the Idddest example is foe fake fur shopping trolley (1,895 francs). 

Ifthat's too wild for you, and you prefer to stick to the classics, foe new Louis 
Vuitton boutique (6, place Saint-Germain-des-Pres; tel.: 01 45 49 62 32) has all- 
leather steamer trunks in two sizes (85,000 francs and 90,000 francs) for those 
who haven't given up on foe romance of travel and who don’t cany their own 
luggage. More portable is another old-fashioned accessory with cachet: the hat 
box (5,900 francs). 

* Trendier types should check out foe clothing shops on the Rue du Pie aux 

Continued on page 0 


Yet Trendy 

U iversally identified as a hotbed of contemporary 
esign and a city dedicated to business, not tourism, 
;is easy to think of Milan only in terms oHjig-name 
boutiqus, high-tech borne furnishings and stylish house- 

But le visitor to Italy’s most modem city need only stand 
in fronof foe Duomo (cathedral), a structure of pure Gothic 
grace,*) glimpse a different and truer perspective. Your 
glanctwill move upward from foe myriad sculptures and 
eargoies to the spires and a crowning gold statue, and you 
')wUl sddenly realize that Milan has an Italian heart after 

Lib foe Duomo, Milanese gifts are for foe most part 
dignied and practical, yet beautiful. The shops display items 
offohighest quality, and creativity links foepastto the future 
to aoieve a look that is simultaneously tuneless and trendy. 
Scaih near foe Duomo, in and around via Montenapoleone, 
a sbwease of Milan's most elegant shops, as well as along 
the erects of foe more low-key Brera neighborhood. 

lo holiday table in Milan would be complete without the 
national panettone ($24-536), a dome-shaped bread made 
wit raisins, candied citron and lots of eggs- 

beauti fully gift-wrapped homemade panettone from 
Bii (Galleria VittorioEmanuele; tel. 805 79 61) or Cava (via 
Matenapoleone S; tel. 760 00 578) can be be shipped 



I resistible edibles , 

Tc aourmet food emporium Peck (via Spardan 9; teL: 864 
6 158) can prepare an irresistible basket ($160) containing 
prma prosciutto; parmigiano cheese, dried porenn mush- 
nwns, the Canardi rice and saffitm needed to make nsotto 
da milanese aiuL for dessert, hazelnut cream chocolates. 

It is hard to go vJrong with a gift of spumante, a sparkling 
vhite wine drunk m an aperitifi The Ronchi rwrne i sfoop (via 
£n Vincenzo 1 2; td. 894 02 627) recommends Ca’ del Bosco 

(uvec (1989, 2 botjes, $108). . 

If money is no cbject when shopping for foe woman m 

The average shopper at La Rinascente 
department store is opting for “sofid- 
colored kitchen aprons for men, scented 
candles and other items that contribute 
to enriching the home environment, " 
says head buyer GiuEana RubbL 
“ Consumers prefer gold or bright colors 
and gifts that are useful, and they are 
demanding high quality with a low price 
tag." Says Marina Codecasa, executive 
editor of “D, " La RepifebEca’s weekly 
women ’s magazine: “ Louis Vuitton 
crocodile-fined fountain pens and 
Fiorucci's longsleeved cashmere 
T-shirts for toddlers are In'.” R.C. 


Hanoi Nichols buyer Christina Abbot 
says uxury is back in fashion as the 
Britih economy improves and that 

the feelgood factor" is back for rite 

firsttime since the late 1980$. 

Luxry food hampers are doing well, 
as re "themed gifts, " like the 
Amrican Stocking, which contains 
a &nna Karan dress, Richard Tyler 

sttes and a Ralph Lauren coat. 

Gl vouchers fora range of beauty 
natments are also expected 
ttbe bestsellers. M.B.-H. 

your life, consider a necklace. Shimmering pink, green and 
blue can be discerned in foe smoky gray Tahiti pearl on a gold 
r-hahij s urmoun ted by a marquise-cut diamond ($7,275) at 
Pederzani (via Montenapoleone 1; teL: 760 01 728). 

The non in your life would certainly appreciate a gift 
certificate from ErmeoegDdo Zegna (via P. Verri 3; teL: 760 
06 437), entitling him to be measured for a tailored jacket or 
suit in a choice of superlative fabrics ($790-52,000). Or pick 
out a golden, velvety brown wallet of hippopotamus leather 
lined in c alfskin with black trim ($225) at Vhl extra (Piazza 
San BaMa 1; tel: 760 05 024). 

For the home, Frette (via Montenapoleone 2 1 ; teL: 78 39 
50) has the most sumptuous selection of satin sheets ($600 
per set) around. 

The silver openwork of a wine cradle ($2,670) at Mes- 
sulam (via Bigti 4; teL: 760 14 812) is entirely handcrafted, a 
complement to any well-laid table. Con t em p orary Milanese 
design is reflected in the shiny brilliance and perfect, un- 
adorned form ofa solid silver Sabattini vase ($475), available 
at MtssaglLa (Piazza San Sepolcro 2; teL: 87 44 89). 

Milan’s oldest stationery shop, F. Pettinaroli (Piazza San 
Fedele 2; teL: 864 64 642) carries 16th- to 19th-century 
prints, including an original watercolor map of Italy ($2,425) 
drawn by foe Eng lish cartographer John Speede in 1 650 with 
views of tiie major Italian cities. 

Mmi-work spaces 

Definitely one-of-a-kind are tbe 18-inch-square glass-en- 
cased miniatures of personal work spaces ($ 1 50-S4S5). Cose 
di un Altro Mondo (via Solferino 25; teL: 659 91 10) 
specializes in diminutive grocery stores, architects’ studios, 
dentist offices and others upon request 
A special gift for a little gxzl could be a hand-dyed velvet 
coat ($395) with mandarin collar and trim, available in red or 
dark green at I Pinco PaJlino (via della Spiga 42; teL: 78 19 
31). The swirling brocade pattern in a lighter shade of the 
«wift color is repeated in foe'mafching handbag and head- 

Immediately recognizable by its omnipresent double angel 
trademark, foe four floors of Fiorucci (Galleria PassareUa 2; 
leL: 760 04 896) offer foe most imaginative gifts in Milan. A 
perffect stocking staffer is the amusing Fiorucci cake serving 
knife ($9) When used to cut a cake, the knife lights up and 
begins to play “Happy Birthday.” Rosanna Origilano 

Piaget Citea 

Exceptional character. 

In 18caia ydlow or wtoc gold.lhc Piagcl CSiiaaffirmsiis 
oorUemporary slyle wilh its distinctive flange, choice of dials 
and rounded sapphire crystal. With a leather strap or gold 
bracelet, ihe ladies' models arc also set with diamonds. 



PIAGET Boutiques : Geneva - Paris - Monaco - Barcelona - London - New York 
Hong Kong - Singapore - Kuala Lumpur and at the best jewellers throughout the world. 




.pi )NS Mil n v!-:( 1 H >\ 

the perfect gift 

■ what’s hot I The Future Is Plastic 

A spokesperson for Bergdarf Goodman 
reports: “ Luxury has performed really 
strongly — from lush cashmere to 
white gold and diamonds. The holidays 
are about lavishing luxury on others 
and treating oneself to beautiful 
things. " Lisa Gorevitz Jensen, 
divisional merchandise manager for 
Barney's New York, adds: ‘'The way 
cashmere is being used this season 
is really different — with prints and 
mixtures, it's tactile, comfortable 
and beautiful. I mean, who wants 
wool? it itches !” M.S. 

Tokyo: From 
Traditional to 
Trendy Treats 

J apan may be famous for its high prices — and quality — 
but in Tokyo’s many colorful shopping districts, it is easy 
to find gifts of all types at reasonable prices. 

If you are looking for something traditional the pres- 
tigious Takashimaya Department Store (2-4-1 Nihonbashi; 
tel: 3211-4111) has an excellent collection of ceramics. One 
shallow bowl in the Arita style is marie; of white porcelain and 
decorated with colorful flowers that symbolize happiness. 
Priced at 3,800 yen (roughly $30), it would be great for 
serving special New Year's dishes, which most Japanese 
code at home for the holidays. 

In the Ginza, exclusive boutiques are the name of the 
game, though there are department stores as well This area is 
home to the main outlet of Mfldmoto & Co. (4-5-5 Ginza; 
teL: 3535-4611), Japan’s famous pearl merchant 
MBdmoto is hoping sports enthusiasts and others will 
appreciate the elegant tine of jewelry and gifts it has designed 
with the official logo of the Nagano Olympics, to be held this 
winter in Japan. There are 18-karat gold necklaces with 
charming skaters and skiers, whose faces are represented by 
shiny pearls. They are priced at 28,000 yea. Pens decorated 
with the Nagano theme cost 2,800 yen. 

Looking for something sturdier? The Isetan Department 
Store (3-14-1 Shinjuku; teL: 3352-1111) has a fine line of 
Mizuno sports bags in its annex. Mrzuno Pro golfbags weigh 
as little as 2.9 kflograms and are made of a durable fabric. 
Prices start at 30,000 yen. 

Golf remains popular wife Japanese of all ages, but the 
latest craze for athletes and their friends is the line ofG-Shock 
sports watches made by Casio. New types come out every 
few weeks, and some are made in limited special editions. 
One of the most popular lines — called Riseman (starting at 
1 1,000 yen) — Iras features for people practicing sports like 
skydiving and paragtiding. 

G-Shocks are found in most department stores, in either 
special G-Sbock comers or Tic-Tac shops within foe store, 
winch have an extensive selection of casual watches. Ten 
department stores in Tokyo have Tic-Tac shops, including 
Matsuya Department Store (3-6-1 Ginza; teL: 3567-1211; in- 
store Tic-Tac shop: 3535-6518). 

For more down-to-earth types, Seiko is offering a quartz 
watch powered by kinetic energy — in this case, foe move- 
ment of foe wrist These classy, executive-style watches are 
found in the Wako Department Store (4-5-11 Ginza; teL: 
3562-211 1), owned by Seiko Coip. Some styles sell at Wako 
and other fine retail shops for 55,000 yen. 

Shoppers with a little extra time on their hands’ will want to 
visit the bustling Harajuku section of Tokyo. Especially 
popular with teenagers and young adults, foe area is home to 
toy retails Kiddyiand (6-1-9 Jingumae; teL: 3409-3431), 
which has stocked up on an entertaining line of teddy bears 
and ducks that look like traditional stuffed animals but move 
when they detect sounds, like laughter or Christmas carols. 
The animals — nicknamed “good mood” in Japanese — 
cost 2^80 yen. 

In style with teenagers and young adults, wooden Japanese 
thongs or clogs called geta can be worn with traditional 
Japanese clothing or blue jeans. They make a loud clatter and 
danand dexterity on foe part of the wearer. A variety of stores 
cany them, including Rin Rin (teL: 3497-1730) in the 
Harajuku section of Tokyo, where shoes are priced from 
2,900 to 6,000 yen. 

Janet Purdy Levaux 

This once-scorned substance is now in the avant-garde. 

T ake a close look at foe 
holiday gifts you give 
and receive this yean 
You may not even be aware 
of how many of them are 
made of plastic. 

Those ultralight roller- 
blades, for example, prob- 
ably have a shell made of 
polyurethane and wheels of 
polyamide. The high-tech 
tennis racket is likely to be 
made of polyamide fibers. 
Most of foe children’s toys 
are made of polyethylene, 
chosen for its flexibility, re- 
sistance and safety. 

And don’t forget that poly- 
ester and viscose — now fa- 
vorites with clothing design- 
ers since technical 
improvements have made 
them wearer-friendly — are 
types of plastic, and that the 
soles of your Nike, Reebok 
or Adidas sports shoes are 
also likely to be made of 
plastic. And, of course, the 
obligatory Swatch and foe 

The list goes on. Plastic, 
once scorned as a cheap, taw- 
dry, non-biodegradable sub- 
stitute for other materials, has 
become — without most of 
us even realizing it — an 
integral part of our lives. Sci- 
entific advances have trans- 
formed plastic into a light- 
weight, resistant, even 
beautiflil material that can, in 
some instances, be recycled 
or create an indestructible 
product It can be rigid or 
supple, transparent or 
colored. Its applications are 
infinite, and it is now used in 
everything from space ships, 
high-speed trains and cars to 
milk bottles. 

The potential for plastic 
has not been overlooked by 
today’s designers, who set 

the trends and come up with 
foe ideas that win determine 
what we will be buying in the 

If you still think plastic is 
ugly, take a look at foe col- 
orful, opaline packaging of 
Nina Ricci’s “Le Teint 
Ricci" line of cosmetics, de- 
signed by Garouste and 
Bonetti, or their “Cleopatra” 
vase. As Mania Bonetti puis 
it, “All materials are intrins- 
ically beautiful. Plastic or 
wood are beautiful or ugly 
depending foe way they are 

The ingenious lamp cre- 
ated by another designer; 
Philippe Zunino, is made of 
sheets of Plexiglas fitted to- 
gether in such a way as to 
create the illusion that there is 
a lamp inside foe transp a re n t 
cube, when in feet there is 
nothing but a light bulb. Mr. 
Zunino calls this technique 
“virtual plastic.” Italian de- 
signer Alberto Alessi has 
brightened up many a home 
with his whimsical kitchen 
appliances and utensils made 
of plastic. 

Wear it, ride ft; burp ft 
Although his creations might 
not conform to your idea of 
beauty, one of today's most 
avant-garde fashion design- 
ers, Belgian Walter Van 
Beirendonck of W&LT 
makes many of his wild fu- 
turistic garments from 
plastic-based fibers. Issey 
Miyake’s signature pleated 
fabrics were made possible 
by his extensive research into 
foe properties of polyester. 

For young designers, 
working in plastic seems to 
come naturally. At the Ecole 
Nationale Supdrie re de Cre- 
ation Indnstrielle in Paris, for 

London Shopping 

Continued from page l 

Lewis (278-306 Oxford St; 
teL: 0171 629 7711). Give 
your loved one a £650 Ar- 
istae fridge-freezer that 
sports colorful sprayed-on 
designs. You can choose be- 
tween foe Eiffel Tower, foe 
Manhattan skyline, a steam 
train or ocean waves. 

For the clothes horse 
Chenille is definitely the fab- 
ric of the moment A crimson 
chenille throw, £150 at Sel- 
fridges (400 Oxford St; teL: 
0171 629 1234) is just the 
thing to dress 19 ) your fur- 
niture and will double as a 
makeshift wrap. Add some 
atmosphere with Per Lerari- 
um scented candles, which 
cost £17 and bum for 17 

The scent of a good cigar 
is more expensive, to be pre- 
cise £695 for 25 Monte 
Christo ‘A’s. You can further 
spoil foe smoker in your life 
and prevent the cigars them- 
selves from spoiling by in- 
vesting in an £850 humidor 
by DuPont both from Sel- 
fndges 7 special cigar 

Harvey Nichols (109-125 
Knightsbridge; teL: 0171 235 
5000), the favorite store of 

foe late Diana, Princess of 
Wales, is unbeatable for 
women’s fashions. Sexy and 
slinky lingerie by Collette 
Dirmigan starts at £125 for a 
bra and £75 fora thong. Top 
it with foe cashmere addict's 
heart’s desire, foe Ava Gard- 
ner sweater by Rebecca 
Moses for £410, which is 
available in every color of the 

Equally trendy but dis- 
creet enough for foe mother- 
in-law is a pewter teapot by 
Nick Monro at £174.95. 

Kids* stuff 

If your kids prefer their gifts 
on the generous side, how 
about a 6 -foot Beefeater mo- 
hair bear; fully dressed in tra- 
ditional uniform? It will cost 
you £899.99 from Hamleys 
(188-196 Regents St; teL: 
0171 734 3161). 

Bargain stocking fillers 
might include Berocca 
(£5.99), a fiz 2 y Vitamin B 
drink said to cure all ills — 
including festive hangovers 
— and available from Boots 
foe Chemist, a chain of drug- 
stores with branches all over 
London. Princess Diana 
memorabilia is everywhere: 
postcards, mugs, books, 
CDs, videos, etc. 

Mira Bar-HUIel 

Paris Shopping: Fur Carts, Leather 

Continued from page I 

Clercs, where the Japanese 
company La Cabane de 
Zucca ( 6 , rue du Pr£ aux 
Clercs; teL: 01 42 60 55 16) 

has an unusual bright-blue 
beaded plastic handbag (420 
francs) and a simple sleeve- 
less orange wool dress wife a 
V-neck edged in purple vel- 
vet ( 1,200 francs) that will 
certainly brighten up the hol- 
iday season. 

The duchess or Marlene? 
L’Heure du Bijou is an AH 
Baba’s cavern of over-foe-top 
jewelry that was made for 
films, the theater and fashion 

shows in the 1930s, ’40s and 
'50s, and also carries antique 
clothing and lingerie. A 
jeweled jade dragon brooch 
(1,700 francs) wiD make her 
feel like foe Duchess of 
Windsor; and a pair of black- 
and-gold backless boudoir 
slippers (1,300 francs) like 
Marlene Dietrich. 

An umbrella may seem 
like a boring gift, but 
L’Eclaireur (24, rue de 
l’Ecbaude; teL: 01 43 29 58 
01 ) has some exceptionally 
beautiful ones from foe Itali- 

an company FomasettL 
Made of satin with a wooden 
handle, each one (priced at 
940 francs) is lined with 
prints that will brighten any 
rainy day. They come in 
bright orange with smiling 
sun feces on the lining, wine- 
red with an old-feshioned li- 
brary lining, and black lined 
with hot-air balloons. 
L’Eclaireur carries a range of 
clothing from such designers 
as Helmut Lang, Issey 
Miyake, Dirk Bikkembergs, 
JH Sander; and others. 

Muriel Giateau’s new Left 
Bank boutique (37, rue de 
Beaune; teL; 01 40 20 42 82) 
carries handsome modem 
tableware and fine linens, in- 
cluding pure-linen bed sheets 
(1,950 francs for a double 
sheer) and pillowcases in a 
wide range of attractive col- 
ors. The table service in bis- 
cuit porcelain with pine, 

S le lines comes in nine 
rent colors (375 francs 
for a dinner plate), and linen 
table n uking (130 each) in a 
range of 70 colors. 

A must-stop for foe im- 
pecunious gift-giver is Tati 
(140, rue de Romes; teL: 01 
45 48 68 3 1), which claims to 

have the lowest prices in 
town but has been climbing 
upscale of late. The bargains 
are still there, however atiny 
round flowered gift box con- 
taining two heart-shaped ear- 
rings and a matching neck- 
lace that would be perfect for 
a little giri (19.90 francs); 
oversized fake chrysanthe- 

mums in gaudy yellow, 
purple and orange (9.80 
francs each); a toy doctor's 
kit (9.90 francs); and the Tati- 
clic, an inexpensive dispos- 
able camera with flash (49 JO 
francs), which is also carried 
by foe ultra-chic Right Bank 
boutique Colette. 

Heidi Ellison 



Oar new gift catalogue 1998, 
for business opportunities and friends, 
is fit for the gourmet 

Free documentation upon request, 
please fax your name and address 
to fax: +33 (0)1 30 81 95 5 1 

example, more than half of 
student projects arc realized 
in plastic. In cooperation 
with the company GE 
Plastics, a group of students 
recently created foe light- 
weight “Ef Pof" bicycle with 
plastic frame and rims and 
tires that will never go fiat. 

Says G&arri Laizd, direc- 
tor of VIA, a French asso- 
ciation that p ro motes inno- 
vation in furniture design. 
“Plastic is without a doubt 
the material of our time, and 
that is why foe younger gen- 
eration of designers wants to 
work with it” He empha- 
sizes that plastic must be 


not as an imitation of other 


And if you still have any 
doubt about foe importance 
of plastic in your life, think of 
how many fores you have 
used your T upp crw ar e. This 
humble, often-ridiculed 
product is used in three out of 
four hotseholds and recently 
celebrated foe 50fo an- 
niversary of its invention by 
Earl Tupper. Don’t forget to 
burp before storing. HLE. 

Have you missed any of the\ 
International Herald Tribune’s 

Auctions in France 

AutomoHe Industry h Etrope 

8ig Business Asia 

Buit for Business: Bangladesh 
Bu3t for Business: China 
BuS for Business: Hong Kong 
Built for Business: India 
BuS for Business: Indonesia 
Butt fa Busness: Japan 
Blotter Business: Pbfippiies 
Butt for Business: Singapore 

this year? 

fealt for Business: South Korea 
Butt for Business: Taman 
Butt for Business; Thailand 
Business Education in France 
Business Education in the US 
Business Locations h Germany 
Business Locations in Vienna 
Business to ebusiness: Banking 
Business to eBusiness: Retail 
Business Travel 
By Spain: Cathedrals 

By Spam: Gastronomic Bounty o( the North 

By Spain; Museums 1 
By Span: World HentaaCiws 

Cadillac and Chevrolet furope 

CaUfoma Wne$ T 

Canada and APEC 1 

Crech Repute \ 

Dubai 1 

EcoEfficiency: Business M the 
Environment 1 

Egypt I 

Egyptian Ranking ms cjrf Martas - 

Euro & The Financial Mark! m Fraud 

*■ ‘ •« 


g* *- !# ' * m 

£ . 





The Making of 
A Traditional Champagne 

No celebration is complete without the pop of a Champagne cork and a 
round of toasts with this delightfully fizzy white wine. 

Itefite art of baffle turning encotMages1hesedKnent& in tin Chanpagne to settle. 

C hampagne represents 
tbe romance of 
France, and French 
Champagne vintners fero- 
ciously (and successfully) 
defend the name of their re- 
gion against ail comers, from 
Californian wineries to per- 
fume makers. Only sparkling 
wines made in this particular 
region of France have die 
right to the Champagne 

Champagne is a special 
drink, and one of the most 
unusual Champagnes is 
Krug. A visit to the com- 
pany’s cellars in Rheiras ex- 
plains why. 

“After World War n," 
says Chrystel Miguet, 
spokeswoman for the family- 
owned company, “there was 
great demand for Cham- 
pagne, but not enough pro- 
duction to supply it using the 
traditional method of fer- 
menting the wine in oak 
casks. Most of the local 
vintners made a decision to 

European Fme Arts 
Fast Track 97: Asia Business Outlook 
Frankfurt's New Congress Center 
Greek Telecommunications 
HoMayS in Europe: European 

Hobdays n Euope: London & Pans Stopping E*® 3 *® 
Holidays in Europe: UK Fly and Drive 
Hotel Renaissance 
Hungary . 

IFA: Advanced Electronics Showcase 

Interactive Industry 
International Business Education 
International Education in Benelux 
International Education m Germany ana 

Internationa! Education in Switzerland 
International Franchising 
Investing tn Austria 
Investing m Austria: Vienna 
Investing in Poland 
investing in Marseille 


Luxury Peal Estate 

Itfraig in Africa 

Mobile Communications: GSM and Beyond 
Multilingualism in Europe 
North America Summer Camps 
Office Equipment 

Portugal Update: Lisbon Stuck Exchange 
Portugal Update: Telecom 


Skiing in America 
Summer in New 'fork 

Technology & The Environment 

Trade Fairs & Congresses in Germany 

Travel for Knowledge 

Travel in Asia: Best Beaches 

Travel in Asia: Festivals 

Travel in Asia: Golf 


Turkey: Business Update 
Uganda: A Regional Powerhouse 

World Travel Shopping 
World water 

Now available on the Hfl Web site: 

increase their production by 
using stainless steel contain- 
ers for the first fermentation, 
but the Krug family decided 
to stick with the old-fash- 
ioned way.'’ 

The upshot of this decision 
is that Krug Champagne is 
more expensive than most as 
its production is relatively 
small (450,000 to 500,000 
bottles a year), and the aging 
process lakes longer (six to 
seven years, as opposed to 
one-and-a-half to three for 
most Champagnes), but it 
also means that the Cham- 
pagne is fuller-bodied and 
ages well Even bottles dat- 
ing to 1928 are still drinkable 
if they have been properly 
conserved (most Cham- 
pagnes should be drunk with- 
in 10 years or so). 

Anything but high tech 
Winemaking today has prac- 
tically become a science, 
aided by chemical testing and 
computers, but the Krug op- 
eration is anything but high 

In the cellars stacked with 
pyramids of oak casks, tem- 
perature and air flow are con- 
trolled by opening and shut- 
ting the windows. In the sub- 
cellar, bottles lilted upside- 
down on wooden racks are 

turned by hand to encourage 
the sediments to collect in foe 
bottle cap. 

Once foe process is com- 
plete, foe neck of foe bottle is 
frozen and, when the cap is 
removed, foe gases in foe 
bottle force foe plug of sed- 
iment-filled ice to pop out, 
leaving foe clear liquid in foe 
bottle. The bottle can then be 
property coiked. 

Not much has changed 
since foe first Krug, Jo harm - 
Joseph, came to France in 
1830 from his native Ger- 
many, where he had been a 
winemaker in foe Rhine Val- 
ley. After working for a time 
with a C hamp agne maker, he 
set up his own winery, which 
remains a family operation to 
this day. Paul, foe current pat- 
riarch, has now left foe run- 
ning of foe winery to his sons 
Henri and R&ni, who in turn 
are training their children, 
Olivier and Caroline, both 
now 31 years old, to take 
over the business. 

To reach foe level of ex- 
pertise of their parents, 
however, may take the 
younger generation 20 years 
or so. The whole family par- 
ticipates in foe tasting of foe 
new wines made from 
Chardonnay, Pinot Noir and 
Pinot Meunier grapes. 


"Retail companies will focus 

on the Nagano Olympics (1998) this 

winter season, " says Ken Egusa, 

senior retail analyst with UBS 

Securities Ltd., Tokyo. “You already 

see a lot more outdoor active wear, like 

boots and jackets, in the stores. They 

might try to show some of the new 

materials used in the uniforms of 

Olympic athletes. There will also be 

more equipment on display. Black and 

silvery white or snow colors will be 

emphasized — they can be worn 

easily with other items. "J.P.L 

A brand of Champagne, 
unlike wine, is expected to 
have a recognizable house 
taste each year, but each crop 
of grapes is different, de- 
pending on weather condi- 

This means that each year 
varying quantities of each 
grape variety must go into foe 
blending of Krug's Grande 
Cuv6e. If a particular flavor 
— violet or pear, for instance 
— is missing from that year’s 
grapes, foe family has re- 
course to reserves saved from 
previous years. 

A mUlesime. or vintage 
Champagne, on foe other 
hand, is one that is “an ex- 
pression of an exceptional 
year," says Ms. Miguet If 
the yearly tastings reveal an 
out-of-the-ordinary, surpris- 
ing or unusual crop of grapes, 
a vintage is produced using a 
blend of only that year's 
grapes. In September of this 
year, Krug celebrated the re- 
lease ofits !989millesirae. It 
will wait another year or two 
before releasing the 1988 


Los Angeles: 
Tinseltown Treats 

F inding the perfect gift 
for foe stars on your 
holiday shopping list is 
as easy as a cake walk in Los 
Angeles, especially on 
Rodeo Drive in Beverly 

In foe Guess Home Col- 
lection (459 North Rodeo 
Drive; tel: 310 2464488), 
you’ll find a host of styles in 
bath supplies, bedding and 
night wean How about a 
matching set of gold velour 
pillowcases ($126 for two), a 
duvet cover ($275 for queen 
size), bath towel ($44), robe 
($150) and pajamas ($139)? 

For walking around Tin- 
seltown at nigjht, a leather 
sports jacket might be the 
perfect fit Andrew J (458 
North Rodeo Drive; tel.: 310 
275-921 1 ) has unisex jackets 
complete \yrth foe colors, lo- 
gos and championship 
patches of teams like foe Los 
Angeles Dodgers ($1200) 
and Chicago Bulls ($1800). 
The comfortable jackets are 
handmade by J.H. Designs 
and come in three sizes. 

Locker-room perfume 
Ready for a sporty men’s co- 
logne to go along with that 
jacket? Bijan USA (421 
North Rodeo Drive; tel.: 310 
285-1800) has a full stock of 
Michael Jordan cologne. The 

line of fragrances debuted 
last spring and includes a $45 
gift set with a 3.4 ounce 
bottle of cologne, a deodor- 
ant stick, and bar of soap. 

For those who enjoy less 
active sports, Fr anklin Mint 
(339 North Rodeo; tel.: 310 
858-7530) has just foe ticket 
Special-edition Monopoly 
boards made of wood can be 
purchased for $555. A 
matching table ($295), set of 
folding chairs ($275), and 
glass dust cover ($90) are 
also available. 

Rockin’ round the tree 
And for foe children? Ham- 
macher Schlemmer (309 
North Rodeo; teL: 310 859- 
7255) has a complete line of 
handmade wooden toys. A 
replica of an English rocking 
horse, priced at $5,000, 
would be quite a hit — 
though it might not fit under a 
tree. It measures four feet in 
height, weighs close to 100 
pounds and comes with 
leather ropes, a removable 
bridal adjustable stirrups, a 
life-like brown mane and 
plenty of colorful spots. 

Smaller toys might fit in 
one of foe unique stockings 
on sale at Saks Fifth Avenue 
(9600 Wilshire Boulevard; 
teL: 310275-4211). They are 
decorated with different- 


Paris's Galeries Lafayette department 
store is celebrating an "English 
Christmas ” this year, according to its 
Christmas buying director, Nathalie 
Boscq, with a 30meter Vivienne 
Westwooddecorated tree under its 
dome, and products from Harrods and 
Libertys. "Gardening is a huge trend this 
year in France, " says Ms. Boscq, " and 
we are featuring related gift ideas for the 
home like plastic shopping bags with 
dried flowers imbedded in them. Also big 
this year are items like colorful novelty 
mouse pads [for computers] in the 
shape of animals. " H.E. 

colored costume gems, 
pearls, Christmas bells and 
velvet trim. Prices range 
from $180-$225. 

Singing snowballs 
The store also has a fine col- 
lection of Christopher Radko 
glass tree ornaments starting 
at $26, and ornaments with 
themes from Mother Goose, 
from $16. A glass snowball 
tree ornament (under $50) 
with a Hollywood sign and 
skyscrapers, known as foe 

LA globe, will entertain you 
by singing “California Here I 

For year-round good 
cheer, Neiman-Marcus 
(9700 Wilshire, tel.: 3 1 0 550- 
5900) has a line of crystal 
statues that start at $250. Star 
Stream, designed by Neil 
Cohen, depicts two sparkling 
stars linked by a trail of light 
to reflect the bond between 
two entities and sells for 

To shed a little light on 
your holiday goodies, Gior- 
gio B every Hills (327 North 
Rodeo Drive, teL: 310 274- 
0200) has — in addition to its 
lively and soothing fra- 
grances — some interesting 
candelabra. One antique- 
cTystal candelabrum ($800) 
holds five candles. 

Going one step beyond the 
latest colors for lipstick and 
nail polish, Cosmo Cosmet- 
ics is selling mood lipsticks 
and fruit-scented nail polish, 
available in drug stores and 
discount stores. Mood Lip- 
sticks. sold in sets of eight for 
$12, go on as olive, navy or 
copper and then turn to more 
natural lip colors like red. 
“Fruity Nail Polish," $3 a 
bottle, releases fragrances 
like lemon, cheny or coconut 
when dry. They can be found 
in drugstores and discount 

Janet Purdy Levaux 

Van Cleef & Arpels 



“The Perfect Gut'* 
was produced in its 
entirely by die 
Advertising Department 
of the International 
Herald Tribune. 

Mira Bar-HiUel in London. 
Rosanna Cirigliano in 

Florence. Heidi Ellison in 
Pans. Paul Hicks in Hong 

hong. Maty Krienke in 
Geneva, Janet Purdy 
Levaux in las Angeles, 

Michael Sommers 
fit New York 
PR0 ^Dm£croR; 
Bid Mahder. 


sponsor I n strnoN 






"All the fragrance companies have 
specialized packages with their best 
fragrance and two or three other items 
in a nice case, " says Jim Watterson. 
vice president, public relations. 
RobinsonsMay. a Los Angeles-based 
unit of the May Department Store Co. 

' ‘This year, the new Calvin Klein 
perfume. Poto Sport, is very big. and 
Perry Elis has a strong, emerging line 
of clothing. We hope to sell novelty 
phones and a singing Christmas tree 
that is motionacrivated. " J.P.L 

Making Mechanical Miracles 

Watchmaking is already complicated, but this craftsman goes to extremes. 

M aster watchmaker Franck 
Muller had a very clear 
vision when he made the 
transition from restoring vintage 
watches for connoisseurs and col- 
lectors to making his own. 

In founding his own company in 
Wl, he set out to restore excep- 
tional value to the wristwatch by 
means of what are called ’ 'grandex 
complications " — amazing com- 
binations of moon phases, calen- 
dars. minute repeaters, chimes, 
chronographs and the like — here- 
tofore die preserve of tine most so- 
phisticated pocket watches. 

The world’s most complex watch 
Just one year later, in 1992, he 
created the world’s most complex 
watch and assumed the epithet 
‘‘Master of Complications.” Now 
into his sixth year of making some 
of the world’s most sought-after 

timepieces, Franck Muller and his 
w orkers are comfortably ensconced 
in a beautifully restored early 19th- 
century mansion in a pastoral set- 
ting in Genthod. just outside 

Sensual curves 

There the latest computer-aided 
design techniques converge with 
traditional watchmaking artistry to 
create watches that are immed lately 
recognizable by their sensually 
curved conformation, known as 
“Cintnie Cuvex.” although Muller 
also makes classic round 

With the exception of some 
women's watches with quartz 
movements, which comprise less 
than 10 percent of total output, the 
movements and final assemblage 
arc all done by hand. 

Engaged in this painstaking 

work are some 60 watchmakers, 
who toil in ateliers with views of 
Lake Geneva they can look at when 
their eyes aren't glued to a mi- 
croscope, guiding the placement of 
infinitesimal parts with amazing 

Other highly skilled specialists 
fashion those minute elements that 
are still hand-made and execute de- 
tailed engravings ranging from nu- 
merals and decorative flourishes to 
a miniature Brandenburg Gate for 
one of the commissioned 
timepieces that comprise a signif- 
icant part of Muller's output 

The Conquistador 
Francois Pedretti. for example, who 
shares the “complications atelier” 
with another watchmaker, has been 
working for two months on the 
highly complex “Conquistador” 


Painstalty hatkSworkstBgoe&hto ffiemakkigoffrie watches. 

The Conquistador houses - a; 
minute repeater, perpetual calendar,’ 
double-faced split-second chranos- 
metcr and a pulseometer — aU 
hand-engraved — whfch the wear- 
er can admire through a sapphire- 

glass.' Me Pedretti presents it with 
the -samd 1 feeling of personal ac- 
'Xornplishment an. artist would ex- 
hibit bis latest masterpiece — 
which it undoubtedly is. 

. Mary Krienke 


These ponxtoh dote am mate to be cherished far generations. 

Where Dolls Come From 


( nv.i\ take vou hours or 
ev en days to find the per- 
iod gill for a friend or 
relative, hut that's nothing 
compared to the amount of 
time thjt goes into making 
some oftuJays toys. Justask 
the employee* of the L.L. 
Knickerbocker Co. in Lake 
I ■•rod. California, south of 
Lu> vngelcs. 

Knickerbocker makes a 
> . tdc range of porcelain dolls 
endorsed by entertainer and 
doll maker Marie Osmond 
and costume designer Bob 
M.ickie. h also sells an e\- 
•cnsive line of teddy hears, 
oninv of \\ [rich carry the en- 

dorsement of former 
Mousekcteer and nun ie star 
Annette Funiccllo. 

It takes about a year for a 
special-edition doll to move 
from concept to reality. Most 
of that time is not spent on 
sewing dresses or hats or 
even producing the fine por- 
celain dolls, bur on working 
with the artists, meeting with 
the celebrities who endorse 
and help create the collect- 
ibles, and marketing the 

Many of these collectibles 
arc sold on the (JVC shop- 
ping channel in the UniteJ 
States, Britain an I Germany. 

but they can also be found in 
the catalogues of Walt Dis- 
ney Co. and others, as well as 
at more than 2.00U specialty 
gift shops around the world. 

Ideas come from inde- 
pendent artists around the 
world, as well as from ce- 
lebrities. The artists ship wax 
versions of a doll to the com- 
pany. then plaster molds and 
porcelain samples are made 
and shown to buyers. Once 
they express interest Knick- 
erbocker's manufacturing fa- 
cilities in southern China and 
Thailand produce their ver- 
sion of a proposed product. 

But before 500 or more 

"Besides Christmas novelties, 
we are expecting the most popular 
gifts this year to be a range of scented 
products, including scented ceramic 
tiles, roughly A5 size in earth colors, 
and some floral design scented 
candleholders. " said a spokesperson 
from the marketing department of 
Hong Kong Seibu. 

"These gifts are suitable for all 
ages and, most important, 
they are easily affordable , " 
she added. P.H. 

Hong Kong: Mah-Jongg, 
Gadgets and Much More 


copies of a doll are made — 
often in four months or less 
— the U.S. design teams and 
Marie Osmond go over the 
merchandise with a fine- 
tooth comb. Is the hair soft 
enough? Do the eyes have an 
appealing color 1 / Does the 
costume attract the eye but 
not take too much attention 
away from the doll itself? 
Are nil the clothes and shoes 
the perfect size? 

In Asia, extensive quality 
tests, such as dropping a box 

with a doll on the floor 15 
times to make sure it will not 
break when shipped, are per- 
formed- At Knickerbocker’s 
U.S. headquarters, the occa- 
sional doll that is missing a 
label or a perfect costume is 
cared for in tbe “doll hos- 

The dolls then pass into 
the hands of their owners, 
many of whom plan to hand 
them on to future genera- 

Janet Purdy Lcvaux 

s the “shopping para- 
dise of Asia,” Hong 
Kong presents an un- 
rivaled range of exciting gift 
ideas, from the lavish to the 
simple, available from glitzy 
malls, department stores, 

Chinese products emporia 
and street stalls. - 1 

Hong Kong's Lane Craw- § 
ford (branches in Queens! 

Road Central. Pacific Place, | 

Ocean Terminal; tel.: 2880 1 
4488) is the oldest depart- 
ment store in Asia and one of 
the most exclusive. 

Extravagant gift ideas in- 
clude everything from a 
gaudy, multicolored glass 
chandelier (18,000 Hong 
Kong dollars, or $2,326) to a Screaming mouse pads 
mah-jongg set with briar- How about one of the .col- 

wood and 24 carat gold . orful “mouse pads” (130 HK in's evening wear, costs 
plated . brass carrying case dollars), printed with classic around 2,3 QO HK dollars and 
(2,800 HK dollars) ora ster- paintings - a great way to 
ling silver picture frame liven up dull officefuraiture7 
(from 300 HK dollars). Particularly apt for those 



ment store in Pacific Place, 
has some -fun; not too ex-, 
pensive gift ideas. 

■ions chic across the world, 
with branches in Paris and, 
since November, on Madison 
Avenue in New York City. 

• A silk ‘Tang Suit” styled 
after ftie traditional Mandar- 

For the overstressed ex- prone to losing an important 
ecutive. Lane Crawford has 
just introduced a range of 
“Aroma Therapeutics” aro- 
matherapy kits. These come 
in individual bottles, in either 
oil or spray versions, and as merchandise -emporia, such 
attractive pre-packaged gift as the - CRC -.Department 

is available in a wide range of 
colors. Other fim items in- 
clude Chairman Mao or 
Deng Xiaoping watches 
file from time to tinrie is a- (from 390 HK dollars) in 
mouse pad reproducing Ed- which the former leaders 
vard Munch’s- . - ‘The .wave their hand to and fro. 
Scream.” > ' - ^muchasthey used to wave at 

Hong • Kong’s Chinese' ■ die assembled masses. 

sets, such as the Quick Fix; 
Urban Survival, or Jet Set 
kits (500 HK dollars each). 

The Loft i tel.: 2971 3333), 
located in the Seibu Depart- 


■ M 

Let’s Enjoy 

By Alain Schinicl 
Chairman of ZILLI Clothing 

Throughout the 
world, men w ho 
demand ihc he*t 
recognize each other. 
I owe my wnrklu idc 
reputation in the Held 
of luxury in the fact 
that mv customers find much mure in 
my boutiques than a fashionable label 
for men. 

ZILLI is a world of pleasure in 
itself, reflecting the values of those 
who have deliberately chosen to 
indulge in life's privileges. 

Happiness is made up of authentic 
sensations. And that has become my 
Kiis<>n j/Y nr. 

Graceful Living 
a la Frangaise 

1 chose France to create my 
company and produce my entire line 
of apparel for ZILLI because the 
know-how found there is unique the 
world over. Expert craftsmen work 

with the choicest natural materials : 
the finest leathers, cashmeres and 
exceptional silks. Each garment is 
hand- finished with minute care. 

But what 1 am the most proud of is 
the particular attention devoted to 
details, to the perfection of what 
doesn * I show. That is how one 
recognizes true luxury and therein 
lies the secret of comfort and well- 

If 1 am a fervent advocate of French 
traditions, it is because France has 
incorporated the quality sensations 
offered by every moment of the day 
into its graceful lifestyle. 

A Rendezvous 
Not to Be Missed 

When people share the same values, 
they like to exchange viewpoints or 
their favorite addresses. This is why 
I am pleased that you will be able to 
discover THE WORLD OF ZILLI in 
the first Saturday of every month in 
The Futcnitirianul He rah! Tribune. 

Elegance will he one of the topics, 
of course, as well us everything 
which can lend intensity to the life of 
those of you who. like me. cannot 
imagine living without passion. 

Welcome. Join us in THE WORLD 


b MHpe 

The finest garments for men in the world. 

ZILLI : 48, rue Francois 1" Paris, Tel.: 33-{0) 1-5323-9090 




The pleasure 
of offering 
and receiving 

A large choice 
of gourmet 
food gifts 

less than FF10 
to FFl^OO 
and over. 

To locate the store nearest you, 
call +33 (0)146 5222 08 






In Paris, according to gastronomic 
journalists. This century-old house 
is open every day except for Mondays 
from 9:00 a.m. to 19:30 pm, 
Sundays and public holidays 
from 9:00 a.m. to 13:00 p.m. 


79 rue Fondary 75015 Paris 
Tel: + 33 ( 0)1 45 75 31 09 

Classy souvenirs 
Store (C^een’s RoadU^enttal lf yiMi’re short on gift ideas, a 
and throughout Hong kong; great place to look is the TDC 
tel.: 2524 1051 ), offeravride Design Gallery (tel.: 2584 
range of possibilitieS/.'frnm 4333), in the shopping mall 
Chinese teacups or onyx an ^ adjacent' to the Hpng Kong 
undls'-at 50-.. HK' dollars, tb Convention . & Exhibition 
elaborately . band-painted Center. Its airri is fo showcase 
smlff bottles (even tbe inside.'.- Hong Kong-made products, 
is painted) that cost op tri' r Tbs’- . unique Projection 
about 8,000 HK dollars. , r Clock (328 HK dollare) 

For a more modem take on 
Chinese gifts, head for 
Shanghai Tang (teL: 2525 
7333), in Pedder Street, Cen : 
tral, an exclusive emporium 
that is making Chinese fash- 

looks like an ordinary desk 
clock, but projects an image 
of an analog timepiece onto 
the wall to a maximum size 
of four feet It makes a great 
nightlight Paul Hicks 


New York City 

Continued from page I 

Jordan’s basketball career by interacting with his sneakers — -s 
Miss Golightly would undoubtedly succumb to the futuristic • r 
charms of the transparent-soled silver Air Max. At $1 50 a n 
pair, this fancy footwear has sparked both street protests and r . 
frenzied buying,.,/ . J 

•Another obligatory accessory of the season is Canon’s 
seductively sliiri Elph automatic camera. Its silver body > 
sports a. pop-up flash and zoom lens and is as compact as a ^ 
cigarette case^ 

Jn thepost-Diana age of stalkography, tbe paparazzi must 
keep a low profile, and both. Manhattan’s niehtclubbing 
glitterati and its Helmut-Newtpns-in-waiting have adopted ft 
the Elph as their preferred weapon. It is-available at umpteen ■) 
electronics stores up and down die avenue — at a puzzling :I 
variety of prices (rttngmg from $239 to $299) — but perhaps 
you should try Fifth Avenue Photo arid Audio (545 Fifth * 
Ave.X where a Brando-like salesman muttered: “It’s $249, 
but I’ll. give it toyoufbr $199.” . _ 

Prices are less negotiable at the always incomparable 
MoMA (Museum of Modem. Art) Design Store on 53rd 
Street, between Fifth and Sixth avenues. Among its elegantly 
designed objets'cTart are the plush, luminous color-block ' 
velvet mufflers for men and women- by 'Elizabeth Gillett. • )- 

Lined with 100-percent silk channeuse, they come in sage- f 
olive-silver and black^steel-silver and cost $1 10. 

Although everybody in'the city, hrom-Bronx homeboys to • id f 
SoHo artists, has rediscovered die droopy joys of overalls, for ’ ; \ 
kids such garb Constitutes -classic attire. At OshKosh ■* I : 
B’Gosb’s showcase store at 586 Fifth Ave.. tykes from three ! 1 

months to seven' years can be fifted out With the bona fide 427 [ 
striped, or denint versions thkt have been long-standing 
favorites with ihe'sihgje^igit set for,over a century. * 

Meanwhile, bofokids antiaduljs can revel in what the : 

;hiori afflitersare'unifomily touting as this holiday season's * 
hot trend — cashmerft. Whether’ it’s men's sweaters, wom- 
en 's waps, pil lows and teddy.bears, or throws for the home, ’ - 
nothing better epitomizes Nevr Yorkers’ recent return to 
things luxurious. ' v •' \ ' ' ; - 

If you and your wallet tire of heady Midtown glitz, I| 
remember that you can always take refuge in the he w K-Mart 
that has elbowed its way onto the comer of the bipper-than- fj 
thou East Village’s Aster Place. Its fluoresccnt-fight-bafiied * 
aislesoffer a treasure trove of basic Americana and designer * 
knockoffs. And, for those still (re)stuck in the ’70s who are I* 
wondering what ever happened to Charlie’s most faithful 
Angel, Jaclyn Smith' — she is alive and well designs a r* f 
s^n^ure line of K-Mart "Classic” accessories, including 
delicious faux-crocodile leather handbags for the nice price " 'f 
of $14.99. Michael Sommers -S I 





Uw Massive Sell-Off- Or Was It a Crash? 


By William Safire 

\ * 




| wniers were recently faced with achaJ C 
*f,\ e^howtodcal with precipitous 

' i te t p ’ not , P^ft-'ipitare , “abmoL 
rash, headlong") decline in the stock 
mailcet without encouraging a S 

° f ?’ preci P‘ ra{ e would 

S h^h°°- rf y ? u wanted 10 de- 
scnbe the behavior of the professional 

investors rather than the graph showing 
stock movement Ce/ebrarVr is N e | 
Y orit Tunes style for celebrant ) 

■ ““ onomatopoeic crash was a word 
that WallSneet Journal editorialists 
were unafraid to use, but the front page 
of that publication chose a verb less 
evocative of 1929- "Stocks PluZwi 
Percent. (That verb was formed in 
this century from the noun plummet a 
weight used to sound, or fathom, the 
depth of water in Shakespeare’s 
Tempest, Prospero says. “Deeper 
than did ever plummet sound / I’ll 
drown my book,” a sentiment quoted 
by excessively modest authors.) 

r Sel k9ff" was toe choice 

of USA Today. The adjective massive 
lent urgency to the stock-market term 
sell-off. a noun first reported in 1937 by 
the Baltimore Sun and still specialized 
enough to retain its hyphen in most 
citations. The New York Tunes dis- 
agrees: the bank, or infixed subhead, of 
its Hong Kong article read, “The Hang 
Seng sets the scene for a global sell- 
off.” unhyphenated. USA Today also 
used the noun rout (military origin) and 
the verb dived (from swimming, with 
that past tense preferred to dove). Its 
columnist. Waiter Shapiro, later used a 
less-alarmist word picture: "Watching 
the Dow snow-plow down the moun- 

Plunge (from a 1380 use about bap- 
tism by immersion) got a nice play in 
the Baltimore Sun (but if I first re- 
ported the use of sell-off. I’d stick with 

it proudly). In Newsweek, CJC Bins- 
wanger and Lucy Howard noted the 
panic prevention in newspapers: drop 
(International Herald Tribune), 
tail spin (Jiji Press Ticker of Tokyo), 
tumble (Milwaukee Journal Sentinel) 
and tremble (Montreal Gazette). 

In the synonymy of the bears, de- 
cline. sag, sink and slump are mildest; 
drop, more sudden; tumble, not shock- 
ing; dive and plunge, precipitous; 
plummet, precipitate; sell-off, techni- 
cal; correction, interpretive or eu- 
phennstic’, free fall, alarming; collapse, 
sudden and steep, and crash, better 
lock that window. 

Television journalists, who could 
immediately affect the market with 

For a less-than- 
calamitons day on Wan 
Street, how about railing 
it Gray Monday? 

their demeanor, were careful; NBC 
called it "the Big Drop” and Fox 
chose "Blue Monday.” 

Now we are into the color of the day. 
Oct. 19. 1987, was called Black Mon- 
day on the analogy of Black Thursday 
of Oct. 24, 1 929, and Black Tuesday of 
Oct. 29, 1929. These were antedated by 
Black Friday of Sept. 24, 1869, when 
Jay Gould drove brokers into bank- 
ruptcy with his attempted corner of the 
gold market It all began with Blue. 
Monday in the Middle Ages, sup- 
posedly the first Monday before Lent 
when revelers felt hung over from pre- 
Lenten flings; later, it became the day 
to feel depressed about returning to 
work after a weekend. Several com- 
mentators dubbed last month’s sell-off 
(in retrospect that seems the best word, 
bur who knew at the time?) to have 
happened on a less- than -calamito us 
day: Gran Monday. 

1 confess to having used the en- 
istic correction two months be- 
October’s finan cial fibrillation. 

My technical analysis went "You’re 
going to see a correction one of these 
days that will curl your hair.” This was 
an obscure allusion to a figure of 
speech that sent a shiver through the 
financial markets 40 years ago. In a 
1957 news conference (in those days 
called a press conference), Eisen- 
hower's treasury secretary, a former 
steel man named George Magoffin 
Humphrey, was asked if he saw any 
hope of cutting defense spending in the 
coming years.. He replied that such 
spending was "a terrific tax take we 
are taking out of this country,” and that 
if we did not reduce defense expen- 
ditures, “over a long period of time, I 
will predict that you will have a de- 
pression that will curl your hair” 

I enjoy making arcane allusions like 
that; a few in the codger crowd catch 
them. One such is Herbert Stein, who 
once noted how a fellow economist. 
Sol Fabricant, described a period of 
less-than-robust expansion by calling 
it a growth recession. 

Since that time, just as. brokers have 
eschewed the word crash, economists 
have avoided the word recession, es- 
pecially those in which hair is curled to 
depression levels. In 1982, 1 asked a 
couple of economists how they would 
define depression. Alan Greenspan 
said, "A depression is either a 12 per- 
cent unemployment rate for nine 
months or more, or a 15 percent un- 
employment rate for three to nine 
months.” Professor Alfred Kahn of 
Cornell defined it as unemployment 
above 10 percent with two quarters of 
consecutive decline in real GNP. 

When serving in the Carter admin- 
istration, Kahn was chastised for even 
using the word depression in public. 
He vowed to White House spin- 
meisters that whenever he had to refer 
to such a calamity, he would substitute 
the word banana. 

I still think the market is due for a 
hair-curler one day. but not so severe as 
to lead to anything like the Great Ba- 

New York Times Service 



An Insider’s Guide to the 
Hollywood of the East 

By Frederic Dannen and Barry Long. 412 
pages. $18.95. Miramax/Hyperion. 
Reviewed by Peter McCarthy 

A MERICAN audiences can’t get 
enough Hong Kong film. True, 
"The Bride With White Hair” may not 
be coming to a theater near you any time 
soon, and “Sex and Zen” can be dif- 
ficult to find at the local Blockbuster, but 
the Hong Kong influence is being felt in 
Hollywood, and indeed the world. Di- 
rectors such as John Woo ("Broken Ar- 
row,” “Face/ Off”) and stars such as 
Jackie Chan ("Rumble in the Bronx,” 
"Supercop”) have taken America by 
storm, playing major roles in many of the 
studios' highest grossing films. 

And while the Hong Kong influence is 
most readily identified in thrillers, it is 
not limited to that genre. Quentin Tarant- 
ino chose Wong Kar-Wai’s “Chung 
King Express.” a deliberately paced 
meditative, Godardian film, for Amer- 
ican release by his production company. 
Everyone, it seems, is srairten with the 

Hong Kong style, thongh few are aware 
of the country’s rich and varied cine- 
matic history. 

“Hong Kong Babylon” should go a 
long way toward correcting this situ- 
ation. Frederic Dannen, a staff writer for 
The New Yorker whose articles have 
also appeared in Vanity Fair and The 
New York Times, has written a timely, 
ambitions and well-researched book. 
Filled with facts, anecdotes, interviews, 
synopses and criticism, “Hong Kong 
Babylon” serves, for the uninitiated as 
a wonderful introduction to the genre. 
And for die-hard enthusiasts it provides 
a depth of detail rarely seen in other, 
similar books that seek simply to ex- 
plicate and glorify (he "gals, guns, and 
gangsters” aesthetic. 

The opening section, an expanded 
version of an article Dannen wrote for 
The New Yorker in 1995, serves as the 
meat of the book. Dannen exhibits 
tience and insight as he details the 
tory of Hong Kong film, a history he 
views through a cross-cultural lens. It 
seems Hollywood and Hong Kong go 
way back: The first Hong Kong feature 
film was financed with American 
money, its first major star, Bruce Lee, 

was boro in San Francisco, and many of 
its more prominent films are unabashed 
“adaptations” of American films. The 
current, in-vogue aesthetic — dark and 
violent — draws many of its elements 
from American film noir and gangster 
pictures of die ’50s. 

In the third portion of the book, Barry 
Long, a framer manager of Kim’s Video, 
an underground store in Greenwich Vil- 
lage, provides concise, knowing and of- 
ten deliberately ludicrous synopses of 
some 300 of the best and often oddest of 
Hong Kong’s celluloid offerings. 

The final segment, in which 12 major 
film theorists and critics muse on the 
relative merits of Hong Kong films, ex- 
poses the book’s primary weakness. Un- 
fortunately. this portion of the book lacks 
focus, and most of what the critics have 
to offer feels rehashed at this point 

However, these is a minor quibble 
with an otherwise excellent examination 
of a unique system that routinely re- 
leases many of the world's most exciting 
and compelling films. 

Peter McCarthy, a screenwriter and 
senior editor at, 
wrote this for The Washington Post. 


By Alan Truscott 

T HE World Champion- 
ships in Tunisia recently 
attracted Omar Sharif, who 
now lives in Cairo. 

He helped occasionally 
with Vugraph commentary, 
and played the Transnational 
Teams. With pick-up team- 
males from France, Germany 
and Lebanon, he finished a 
Respectable i! th in a strong 
'field of 74 teams. 

On the diagrammed deal as 
South he was looking for a 
erand slam as soon as his 
French international partner, 
Albert Faligenbaum. opened 
ihe bidding. Eventually he bid 
five no-trump, the grand slam 
force, in the hope of locating 
the crucial heart king. Fai- 

genbaum had it, and dutifully 
bid seven hearts. 


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West led the dub six. 


When West led a club and 
the dummy appeared, Sharif 
realized that he had passed 
too quickly. Seven beans was 
not at all easy because of the 
block in the club suit: Draw- 
ing trumps would leave 
dummy without a side-entry, 
and the elute could not be 
cashed until trumps were 

South won with 'the club 
ace and cashed, all his trumps 
and (he diamond ace. He 
saved a s mall spade in the 
dummy, and the ending is 
seen in the diagram at right: 
When he overtook the club, 
jack and cashed the other higb 
club, he knew that he was 
home. West held the diamond 
king and East a club, so 
□either could have three 
spades. He played the top 

spades, knowing that the 
queen would apptrar from 
somewhere. And if West’s 
spade queen had been better 
guarded, he would have been 
forced to unguard it to keep 
the diamond king. The op- 
posing North-South played in 
six no-trump so the Sharif 
team gained 12 imps. 

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i Caichcsmihc 

s Composer Franr 
ion N S touch 

13 Singer Outline 

14 Kind of daisy 


1C 1934 Srurioy 

rempie musical 
io volcano spew 
30 Protest tnat gds 

out o‘ hand 

21 Beane 
23 Striped *i5A 

23 Uses to ocmeic 
otcr success 

2S Infuriate 

za place to get alt 
steamed up 
29 Hideaway 
3fl Mode 
31 President 

34 Take I -me oul 
38 Hearty mugful 
» Batters position 
«o Battering wnd 
*i Mailmans neat 
42 Plant 



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Solution to Puzzle of Nov- 21 


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59 Bach of me nech 
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C 2 Mandated safety 


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10 Eta follower 

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12 Gives a hoot 
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Bowl coach Don 
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24 1 Lang 

23 Bom Free' 

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©New York Times/Edited by Will Short *. 


Death of INXS Star Still a Mystery 

CMVtlHtbyOHrU&FHmi Db/wHn 

SYDNEY — Friends and fans 
mourned the Australian rock star Mi- 
chael Hutchence on Sunday, but his 
sudden death in a Sydney hotel re- 
mained a mystery. 

Flowers, cards and burning candles 
were placed on the pavement outside the 
Ritz-Carlton in the suburb of Double 
Bay, where the lead singer of the group 
INXS died Saturday. 

“Michael, you touched everyone 
with your vitality and open heart," read 
one tribute. “You will always be missed 
by many people. Rest In Peace, you 
beautiful man -’* 

The police did not confirm until Sun- 
day that the man found dead in the hotel 
was Mr. Hutchence. Australian televi- 
sion stations and the Australian Asso- 
ciated Press reported that Mr. 
Hutchence, 37, bad been found hanged. 

A worker at the Ritz-Carlton reprated 
finding the body shortly before noon 
Saturday after Mr. Hutchence failed to 
appear for a morning appointment with 
Australian Broadcasting Crap. 

A police spokesman refused to com- 

Fans Are Mourning 
Michael Hutchence 

merit on reports thar Mr. Hutchence had 
hanged himself with a belt, saying it was 
"now a matter for the coroner.” 

The police confirmed that a leather 
belt bad been taken from Room 524 of 
the Ritz-Carlton for forensic examination 
but said there were no suspicious cir- 
cumstances surrounding the death. A 
postmortem was scheduled for Monday. 

The death of the singer prompted 
daylong radio tributes to INXS. 

Mr. Hutchence's fellow band mem- 
bers said they were 4 ‘in extreme shock. ' * 
INXS (pronounced “in excess") had 
been together, its lineup unchanged, 
since 1977 and had been preparing for a 
20th -anniversary tour. 

Mr. Hutchence's partner, Paula Yates, 
with whom he had a 15-month-old 
daughter. Heavenly Hiraani Tiger Lily, 
left London for Sydney and was due to 
arrive early Monday. The couple had a 
highly public relationship after Ms. 
Yates split up with her former husband. 

the Irish rock singer Bob Geldof. Mr. 
Hutchence had said they were planning 
to manv in January on the Tahitian is- 
land of 'Bora Bora. 

Dennis Smith, a police inspector, said 
detectives had interviewed a family 
friend who spoke to Mr. Hutchence about 
three hours before his body was found. 
The woman said she had arranged to meet 
the singer later in the day. Police officers 
also interviewed Mr. Hutchence’s father. 
Kell, who had dinner with his son at a 
restaurant near the hotel Friday. 

The singer flew from his London 
home to Sydney last week to prepare for 
the band’s “Lose Your Head'' tour, 
which was to start Tuesday. The tour — 
which was to have been the group's first 
in their homeland of Australia for more 
than three years — has been canceled, 
according to a concert promoter, Mi- 
chael GudinskL 

INXS, formed in Perth, shot to in- 
ternational success a decade later with 
the album “Kick,” which sold 9 million 
copies. In its two-decade history, the 
band's 10 albums sold 20 million cop- 
ies. f Reuters, AP) 

Grayson Kirk Is Dead at 94; 
Called Police to Columbia U. 

By Karen W. Aren son 

Ne w York Times Service 

NEW YORK— Grayson Kirk, 94, the 
president of Columbia University whose 
decision in the spring of 1968 to turn 
1,000 police officers in riot gear against 
student protesters became an emblem of 
foe generational conflict characterizing 
the Vietnam War era, died Friday at his 
home in Bronxville, New York. 

Mr. Kirk came to Columbia in 1940 
as an assistant professor of government 
and became its president in 1953, suc- 
ceeding Dwight Eisenhower. 

For years, Columbia grew and 
prospered under his leadership. An ex- 
ponent of broad, liberal education, be 
proved adept at w orkin g with trustees and 
raising money. Under him, the university 
quadrupled foe size of its endowment 

But in the 1 960s, he found himself and 
Columbia at foe center of repeated public 
controversies: over its deteriorating re- 
lations with its surrounding community, 
capped by foe university’s decision to 
build a gymnasium in nearby Morning- 
side Park; for taking a controlling interest 
in a cigarette filter whose sale would 
bring revenue to Columbia, and fra the 
way he handled foe student protests of 
1968. Those protests were directed 
against the building of foe gym and foe 
university's affilia tion with a consortium 

that did military research for the U.S. 
government Students took over five 
campus buildings and the president’s of- 

On April 30, 1,000 helmeted police 
officers swarmed onto campus and 
began dragging away foe protesters, 
kicking and beating those who did not 
move fast enough. Hundreds of students 
were arrested and dozens injured. 

Mr. Kirk said the decision to call in the 
police was "obviously foe most painful 
one 1 ever made.” In August 1968, he 
stepped down, saying that he hoped his 
retirement would “ensure foe prospect 
of more normal university operations.” 

Henry Vestine, 52, Guitarist 
Of the Band ‘Canned Heat’ 

PARIS (AP) — Henry Vestine. 52, 
guitarist of foe rock band Canned Heat, 
best known fra its 1969 hit "Going Up 
foe Country” and a performance that year 
at the Woodstock rock festival, died Ocl 
20 in a hotel near Paris of heart and 
respiratory failure. 

The band had just completed a tour of 
France, said Beth Comstock of Tapestry 
Artists in Encino, California, which rep- 
resents Cann ed Heat 

Carl Hempel, 92, Philosopher 
And Last of the Vienna Circle 

NEW YORK (NYT) — Carl Hempel, 

The .In, ukiI Pirv. 

Grayson Kirk in 1966. He stepped 
down over the student protests. 

92, whose - rigorously empirical ap- 
proach to scientific logic was at foe 
center of American scholarly writing on 
the philosophy of science for decades, 
died Nov. 9 at a nursing home near 
Princeton, New Jersey. 

Mr. Hempel, a native of Germany, 
fled Nazism, moving to Belgium and, in 
1938, to foe United States. He taught at 
Princeton University from 1955 to 
1973. He was foe last surviving member 
of foe Vienna Circle, a group of phi- 
losophers who advocated what they 
called logical positivism, which argued 
that whatever could not be verified by 
experience was meaningless. 



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PACE 12 



PAGE 13 

Wall Street 
Thrives on 
Bad News 

But How Much Farther 
Can a Bull Market Run? 

By Erik Ipsen 

■ Inicrihiiuvul Herald Tribune 

NEW YORK — Buli markets have 
been known io shrug off bad news. But 
few have learned to thrive on it, until 

- , Frida y- Wall Street rallied as 
South Korea called on the Imemational 
Monetary Fund for an emergency cash 
infusion and as Yamaichi Securities Co 
Japan’s founh-largest, appeared ready 
ro call it quits, shuttering its brancbts 
around the globe. After a seesaw day, 
the Dow Jones industrial average ended 
with a 54-point gain, at 7,881 .07, push- 
ing the rise for the week to 438.99 points 
and crucially, lifting the Dow well 
above where it stood when the market 
plunged 7.2 percent late last month. 

President Bill Clinton stressed the 
potential Asian impact on U.S. markets 
at the Asia-Pacific Economic Cooper- 
ation forum in Vancouver. British 
Columbia on Sunday, Reuters reported. 

[“America’s future and Asia's future 
are joined,” he said. “With such deep 
slakes in the region, our security and our 
economic interests most go hand in 

• [Mr. Clinton said that one of Amer- 
ica's top priorities would “be the 
strengthening and stabilizing of Asia’s 
financial markets so that their economies 
and ours stay on the right track.”] 

Many analysts cheered the news from 
South Korea and Japan as proof that 
Asian governments and companies 
were finally facing up to rheir problems. 
While that may be true, they were hard- 
pressed to explain why those painful 
steps should actually spark improve- 
ments in U.S. corporate earnings — the 
|fuel for any market rally. 

"The complacency we are seeing in 
the market is not well-founded,” said 
Elizabeth MacKay, chief investment 
strategist for Bear Steams. “Earnings 
estimates are too high.” 

While many on Wall Street agree, 
few are willing to put theirmoney where 
their mouth is, at least for now. 

A case in point is Bill Meehan, chief 
market analyst for Cantor Fitzgerald. 
On Friday morning, Mr. Meehan ad- 
vised what he called his “aggressive” 
clients to sell their bonds and pour the 

E roceeds into stocks. But the same day 
e lold it reporter that he was convinced 
that the bull market was “destined to 
end in the next six to nine months” 
Another stock market watcher who 
• requested anonymity put his company’s 
philosophy this way: “We’re willing to 
ride the bull one last time, but we are not 
going io be die last ones dancing at the 
party. ' ’ Translation: His firm is advising 
clients to wait until early next year and 
then to begin selling their shares on any 
.rally in die market, switching their 
Uponey into real estate before the stock 
-.narker finally turns down in the spring. 

-■ Prudential Securities has been among 
the most outspoken of the “ buy now, sell 
later’ ’ school. It has advised its clients to 
expect the Dow to peak at around 10,000 
by the end of June next year. It also 
advises them to expect a 20 percent to 25 

See IMPACT, Page 15 

Kick Wifltag/R£aux> 

Secretary of State Madeleine Albright, center, Commerce Secretary William Daley and Charlene Barsbef- 
sky, the U.S. trade representative, listening to a reporter’s question at the APEC meeting this weekend. 

How to Understand the Asian Crisis 

First, Think of South Korea as a Family-Owned Company 

By Steven Pearl stein 

UiwAing ton Post Service 

WASHINGTON — To understand 
what is going on with the International 
Monetary Fund and South Korea, think 
of it as the travails of one big imaginary 
family firm. 

Every year, Korea Inc. had been 
selling more and more products. And 
every year, it needed to build new 
factories and offices to enlarge the 
company and keep up with die demand. 
But Korea Inc. did not have enough 
money to finance this expansion, so it 
borrowed its expansion capital from 
several other companies, primarily Ja- 
pan Inc., which was flush with cash. 

These loans came due every six 
months; although Japan Inc. was al- 
ways ready to renew them. But one 
wrinkle was that Japan Inc. insisted 
that the interest and principal payments 
be in yen. not won. 

Then, one day. Korea Inc. dis- 
covered that it had built too many new 
factories al the same time that Thailand 
Inc. and Indonesia Inc. had done the 
same. Prices for its products declined 
and sales did not meet expectations. 
..The value of the.won started to fall on 
currency markets, making it more ex- 
pensive to pay back loans in yen. 

Korea Inc. moved to stabilize the 
value of the won by buying them up on 

world markets, using its stash of yen to 
pay for them. But panicked investors 
were selling won at a furious pace, 
driving the value down further, and 
Korea Inc.’s supply of yen was quickly 
depleted. Japan Inc., fearing that it 
would not ever get its yen back, quietly 
sent word that it would not renew the 
loans when they came due. 

As things began to unravel, mem- 
bers of the family went through the 
stages typical of people who find them- 
selves in financial trouble. At first they 
denied that it was happening. They 
talked hopefully of things magically 
turning themselves around. When that 
did not happen, they began angrily to 
blame others for their predicament. 

Korea Inc. was never bankrupt The 
company continued to make a profit, 
while the value of what it owned still 
exceeded what it owed. Unlike some of 
its neighboring competitors, it had used 
die borrowed money to invest in the 
business, not to finance lavish life- 
styles for the family members. Even 
with the slowdown in its sales growth 
and a string of losses in one or two 
divisions, mere was always enough 
money to meet its interest payments. 
But when its nervous lenders decided 
to demand payment all at once, Korea 
Inc. found itself short of cash. 

Enter the IMF, the world’s lender of 
last resort. The IMF, in effect, has 

offered to lend Korea Inc. billions of 
yen at high interest rates for up to five 
years. Ihe hope is that just having the 
yen in reserve will be enough to per- 
suade Japan Inc. that it can safely re- 
new its loans. But, if necessary, Korea 
Inc. will be allowed to use the IMF’s 
yen to pay off its loans. 

All that is good news for Japan Inc., 
but for Korea Inc., things will get worse 
before they get better. The IMF will set 
strict conditions for its loan, requiring 
that Korea Inc. sell off some of its 
factories or office buildings to pay 
down some of its debt, even if it means 
selling to foreigners. The IMF also will 
insist on closing money-losing oper- 
ations — even if that means some 
family members lose their jobs. 

Korea Inc. also will be required to set 
aside most of its expansion plans. 
Worst of all for family members, they 
will have to accept a lower standard of 
living for a while. They will have to 
take the equivalent of a pay cut in the 
form of tax increases, higher prices for 
imported goods, smaller pensions and 
other cuts in government spending. As 
the IMF sees it, that is the only way in 
which the company can begin to build 
up its financial resources to the point at 
which it can either pay off the IMF loan 
or win back the confidence of Japan 
Inc. Ail in all, bitter medicine for a 
proud family firm. 

APEC Is Confident 
Seoul Will Recover 

Leaders Express Support for IMF Programs 

By Brian Knowlton 

/uremaiiuiuil Herald Tribune 

VANCOUVER, British Columbia 
— Responding to the urgent reality of 
Asia’s currency and market turmoil, 
regional leaders voiced strong support 
Sunday for the International Monetary 
Fund as the first line of defense and 
expressed confidence that South Korea 
would recover from the troubles that 
sent it knocking on the IMF’s door. 

‘ 'There is a lot of consensus here ihat 
we have to back up the IMF,” said 
Prime Minister Jean Chretien of 
Canada, who is the host of the annual 
Asia-Pacific Economic Cooperation 
s ummi t meeting under way here. 

President Bill Clinton, appearing at a 
news conference with Mr. Chretien, 
said the South Korean economy re- 
mained fundamentally strong. “I don’t 
see how anyone could be less than 
hopeful for the long-term prospects of 
the South Korean economy,” he said. 

The two leaders, who met earlier in 
the day to discuss that and other matters, 
thus reaffirmed the approach taken by 
APEC in a meeting last week in M anila. 
APEC, drey Said, would provide some 
funds to underpin regional stability but 
only in support of IMF programs. 

The Pacific Rim nations, many of 
which are still reeling from the tur- 
bulence that has swept economies from 
Bangkok to Seoul and beyond, were 
not expected to announce any concrete 
new steps to calm concerns about 
South Korea or Japan. 

Mr. Clinton and Mr. Chretien, 
however, tried to underscore the longer- 
term importance of an agreement, 
worked out earlier by their trade min- 
isters, to work toward ending tariffs in 
nine sectors, from fishing to chemicals. 

In the long run, Mr. Clinton said, the 
tariff cuts would bolster Pacific Rim 
economies and may be “the best thing 
we're doing to help the situation.” 

Officials here have been eager to 
show that the crises would not cause the 
region to * ‘look inward or build walls,’ ’ 
as one Canadian official put it 

South Korea turned Friday to the 
IMF for help in staving off a financial 
crisis, requesting a $20 billion standby 
credit But economists say South Korea 
will ultimately need a package three to 
five times that size. 

The APEC leaders are not expected 
to go beyond a statement of concern and 
support The trade ministers suggested 

simply that a meeting of the group's 
finance ministers, who are not here, 
should be moved up from May. 

At Manila, APEC officials vowed to 
monitor regional economies more 
closely and provide supplementary 
funds in support of IMF programs. 

“The essential health of the Korean 
economy is very good,’’ Foreign Min- 
ister Yoo Chong Ha said. He blamed 
the “contagion effect” from Southeast 
Asian countries for some of its current 
troubles. Seoul had resisted calling on 
the IMF, a move seen as humiliating for 
the world's 1 Ith-largest economy. But 
as Mr. Yoo pointed out. the mere rumor 
of IMF involvement helped stabilize 
the country’s currency, tne won, late 
last week. 

In Seoul, President Kim Young 
Sam, who delayed his trip here because 
of the crisis, has painted a less sanguine 
picture, telling Koreans they must 
brace for austerity measures that would 
bring “bone-carving pain.” 

Officials from some of the 18 econ- 
omies — they are not referred to as 
countries because they include Taiwan, 
which China does not recognize as 
sovereign, and Hong Kong, now a pan 
of China — said the leaders would 
probably not even issue a separate 
statement on the South Korean crisis. 

Japanese, Chinese and other offi- 
cials confirmed that the idea of creating 
a Japanese-led Asian rescue fund to 
parallel to IMF efforts was dead. 

Mr. Clinton said it would be pre- 
mature to say how Washington would 
respond to a request for help as pan of 
an IMF-led package. He also supported 
APEC's approach to making the region, 
which accounts for roughly half of 
world trade, a free- trade zone by 2020. 

The agreement on ending tariffs in 
nine sectors — telecommunications, 
medical equipment, chemicals, 
forestry products, fish, toys, environ- 
mental goods, energy equipment, and 
gems and jewelnr — will not take im- 
mediate effect. Negotiations on how to 
implement the cuts will not begin until 
spring. While all countries said they 
supported the deal, some will partic- 
ipate only in parts of it or not at all. 

APEC comprises Australia, Brunei, 
Canada, Chile. China. Hong Kong, In- 
donesia, Japan, South Korea, Malay- 
sia, Mexico, New Zealand, Papua New 
Guinea, the Philippines, Singapore. 
Taiwan, Thailand and the United 

Time Runs Short for China Banks, the Economy’s ‘Soft Underbelly’ 

By Steven Mufson 

Washington Post Service 

WASHINGTON — Ma Jinhua is one 
of the pillars of die Chinese banking 
system — a 33-year-old woman who 
works as the assistant general manager 
of a six-story apartment building and 
whose income, when lumped together 
with her husband’s, comes to about 
$600 a month. 

“Everything goes in the bank,” she 
said. Stock market fever has passed her 
by. “In die States, stocks are a busi- 

ness,” she said, but “here in China, it’s 
gambling. I just deposit my money in 
the bank and wait for the interest.” 

Thanks to the faith and savings of 
such ordinary individuals, China’s trou- 
bled banking system has been able to 
stay afloat despite a sea of delinquent 
loans to state-owned enterprises. China 
has the world’s highest savings rate — 
nearly 40 percent — and most of that 
comes from households that plunk the 
bulk of their earnings into banks, 
providing a much-needed cushion for 
the troubled institutions. 

But many economists say that Beijing 
must act quickly to fix what the World 
Bank has called the “soft underbelly” 
of economic reforms: a hanking system 
rife with bad loans, poor accounting and 
a leading procedure still heavily in- 
fluenced by politics and personal con- 
nections instead of the bottom line. 

That risky combination forced central 
authorities to step in about four months 
ago and rescue the Enping County branch 
of China Construction Bank in die south- 
ern province of Guangdong, according to 
a senior government economist He es- 

timated that the (ranch had lost $480 
million because its managers had di- 
verted funds to their own unsuccessful 
businesses, while channeling loans to 
people and companies favored by local 
officials. Rumors of the bank’s problems 
sparked a panic, and people rushed to 
withdraw their money. Central banking 
authorities pumped money into the 
branch, which immediately reopened. 

“Local managers of state-owned 
banks do not have the concept of risk,” 
the government economist said. ‘ ‘For a 
small brandi, this was very serious.” 

What worries China's leaders is that 
the Guangdong case might not be unique. 
Top officials held a three-day meeting 
with bank managers last week to es- 
tablish better guidelines and practices. 

Chinese officials have been shaken 
by the financial crisis in the rest of Asia, 
where stock markets and currency val- 
ues have plunged and banks have been 
shaken. South Korea, the latest player to 
be burned by market forces, agreed late 
last week to an International Monetary 

See BANKS, Page 15 


free Operating System With Cult Status Among Students Finds Business Clientele 

By Paul Floren . 
and Mitchell Martin 

International Herald Tribune 

L AS V EG .AS — Visit 
a college dormitory 
these days, and you 
will find most of the 
liberal-arts students using 
computers based on the Win- 
dows or Macintosh operating 
systems. But many of the 
computer-science majors arc 


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this operating system, h be- 

came good enough for me, 
and so 1 posted it on the In- 
ternet to see if others were 
interested, and they were.” 

Although he continues to 
oversee the development of 
the system, Mr. Torvald does 
not derive any profit directly 
from it. He requires compa- 
nies that want to sell the pro- 
gram to make their modific- 
ations freely available to users 
around the world, so every 
improvement is added to the 
system for the benefit of all. 

This structure means the 
system is reliable, according 
to Nick Wells, director of 
technical marketing for Cal- 
dera Inc. in Provo, Utah, 
which sells Linux products 
and is financed by Ray 
Noonda, Novell Inc.’s former 
chief executive. 

Mr. Wells said program- 
mers who worked on improv- 
ing Linux were willing to put 
time into it for reasons other 
than . direct compensation. 
“They get what they want 
from it — the respect of their 

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“My interest initially was 
that it was a lot of fim, and it 
still it is.” said Mr. Torvald, 
who now lives and works in 
Santa Oara, Californio. “I 
make money off it indirectly: 
I have made enough of a name 
for myself that I car essen- 
tially make my own terms for 
working for other people.” 

Caldera, along with 
companies such as Slack- 
ware Systems and Red Hat 
Software Inc., commercial- 
ize Linux, selling the system 

Competing Systems 

Operating systems 
used by major 
U.S. Corporations, 
as of spring 1997. 

% who own or 
plan to buy 
this operating 

% of owners 
who plan to 
add more of 

% of owners 

Likely replacement 

system In the this operating least some of 

who plan to among those planning to 
replace at switch 

next 24 

system this operating 


53 vtr ; -n, 

:'.h %■ V? ft; 

Consumer operating 
systems in the United 

States, as of end 1996. 



Windows 95 

(includes some Windows NT) 


Windows 1 , 2 and 3 






OS 2 


Other (Includes Unix versions) 

. t-2. 

Sources. International Data Corp. 
Tne n PD Group 

for as little as $30. 

Although it is available 
free from the Internet, down- 
loading it can take hours. Hie 
companies provide instruc- 
tion books and support for 
users. A collection of Linux 
booths provided a counter- 
point to the Windows-dom- 
inated theme of last week's 
Comdex computer trade 
show in Las Vegas. 

Patrick Volkerding of 
Slackwarc said the Linux ker- 
nel, the part of the operating 
system that is always present 
in a computer's memory, was 
far less complex than that of 
Windows NT. This, he said, 
allows Linux to outperform 
Windows even when run on 
old machines. 

There are some large or- 
ganizations running the sys- 
tem, according to John Hail, 
finance director of VA Re- 

search Inc., a provider of 
computer hardware that 
comes with Linux instaJIed. 
These include the National 
Aeronautics and Space Ad- 
ministration and the U.S. 
Postal Service, but much of 
the commercial interest in 
Linux is from the so-called 
SOHO market, for small of- 
fices and home offices. 

While there are not many 
application programs such as 
word processors and spread- 
sheets available for Linux, it 
can run Web browsers such 
as Netscape Communications 
Inc.'s Navigator and recog- 
nize the Java language. Java, 
created by Sun Microsystems 
Inc., is intended to be a uni- ' 
versa! language that can be 
run under practically any op- 
erating system, allowing pro- 
grammers to write software 
just once and yer make it 

available to most users. 

Linux can be run on com- 
puters based on the relatively 
old Intel Corp. 386 and 486 
processing chips. Coupled 
with its ability to execute 
Java programs, this means 
that businesses can wire up 
whole departments with 
computers for little cost, said 
Dan Kusnetzky, director of 
ope raring-systems research 
for International Data Corp., 
a research organization. 

Mr. Kusnetzky said cor- 
porate users included compa- 
nies that wanted to exper- 
iment with their own Web 
servers but did not want to 
invest thousands of dollars to 
get started. 

A third kind of corporate 
user is the high-end customer 
that needs to craft specialized 
programs. As the operating 
system’s code is freely avail- 

able, Linux users can design 
their own drivers. Drivers are 
software that runs peripheral 
devices such as printers. It is 
a weakness of the noncom- 
mercial nature of Linux that 
drivers can be difficult to find 
for specific kinds of peri- 
pherals. The idea is that 
somebody who wants a 
driver badly enough can al- 
ways write one because the 
operating system’s code is 
freely available. 

Caldera executives said 
there were as many as 8 mil- 
lion Linux users, and the 
company's literature said 
that in 1995. 9 percent of 
Web servers ran on Linux. 

Internet address: 

Cyber Si m apc(fi iitr.c,mi . 

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vi-H-w.Hu.ti unilHT IT EC HI 


PAGE 14 



Asia’s Woes Cut Trade in Emerging Market Debt 

Bloomberg News 

NEW YORK — Emerging market 
debt trading slowed in the third quarter, 
with $ 1 3 trillion of face value of bonds 
changing hands, down $1 billion from 
the previous three months, according 
to an Industry group. 

With the fourth quarter yet to go. the 
volume of emerging market debt trad' 
mg for 1997 totaled $43 trillion, com- 
pared with $5.3 trillion for all of 1996. 
according to a survey by the Emerging 
Markets Trading Association. 

The steep decline in emerging mar- 
ket debt since the end of October could 
show up as a big reduction in trading 
during the fourth quarter. 

"volume did go down a lot," said 
Lincoln Rathnam, president of 
Schooner Asset Management Co. in 

Boston. "Banks have reduced their 
proprietary books fairly d ramaticall y 
so that will involve a certain amount of 

where the new Eurobonds issued by 
Panama, Argentina and Venezuela. 
The decline in Brady bond trading 

cent from January to the end of (he third 
quarter, according to an index com- 
plied by J. P. Morgan & Co. It has now 

Bonds to Keep an Eye- 
On Asia for Inspiration 

activity,’ 1 said Mr. Rathnam, referring has been steady. Brady bonds now ac- gained just 7.29 pkcent for the year, 
to the amount of an investment banks” count for 39 percent of all emerging So far this year the best performing 

to the amount of an investment banks 
own money they allow their traders to 
use to buy and sell securities. 

Eurobond trading surged 26 percent 
to S367 billion in the third quarter as 
countries swapped, billions of dollars 
of Brady bonds — the dotlar-de nom- 
inated securities created from debt re- 
structurings in the early 1990s — for 
new global bonds. Brady bond trading 
fell 15 percent to $513 billion in the 
quarter from $601 billion. 

The total volume of Eurobond trad- 
ing so far in 1997 has passed $ 1 trillion, 
compared with $658 billion for all of 
last year. Some of the most active 

count for 39 percent of all emerging 
markets trading during the third quarter, 
down from 51 percent in 1996. 

Trading in emerging market debt 
has exploded from an annual $5 billion 
a decade ago, as countries have re- 
structured troubled bank loans into 
more than $160 billion of easy-to- trade 
Brady bonds and adopted market-ori- 
entated economic policies. The 
changes have made the countries ap- 
pear less risky to investors. 

This year had been smooth sailing 
for investors until the rout in emerging 
markets at the end of October. Emerg- 
ing market debt had gained 15.41 per- 

Most Active International Bends 

Tha 250 most active international bonds traded 
through the Euiodear system tar the week end- 
ing Nov. 21. Prices suppfied by Tetekurs. 

Rnk None Cpn Maturity Price YteW 

Austrian Schilling 

247 Austria 5ft 07/15W7 100.1500 54200 

Belgian Frame 

209 Belgium 

8 00/28/15 1214200 64800 

British Pound 

142 World Bank 
146 Fannie Mae 
153 1 AD Bk 
159 Rag track 

205 Abbey Natt IS 
222 EIB FRN 

644 02/17/00 974000 64000 
6.10 03/17/00 984000 64200 
6ft 06/07/02 99-3750 6.9200 
640 0)26/00 97.4219 64700 
7ft 11/18/22 994000 7.4100 
6ft 03/1 6/00 984250 64400 
716 06/07/02 1004000 74100 
6 08/10/99 974000 6.1500 
740 11/19/02 100.0000 74000 

Canadian Dollar 

B7 Conadc 
104 Canada 
155 Canada 
212 Canada TbiB 

Th 12/01/03 1117820 6.7100 
6 03/1598 1004850 5.9600 
716 0401/03109.9850 64900 
zero 05/14/98 974789 54400 

Danish Krone 

8 Denmark 7 11/10/24 1064000 64800 

10 Denmark 8 0)15/04 1137200 7.0300 

21 Denmark 7 1 1/1 W 1074500 64100 

27 Danmark 9 11/1500 1104800 8.1300 

31 Denmark 6 12/1099 1024000 54600 

35 Denmark fi 11/15/02 102.9500 54300 

52 Denmark 9 1 1/1 5/98 1044500 84200 

55 Denmark 8 11/15/01 109.9700 77700 

56 Denmark 8 0)1MJ3 1114900 7.1500 

57 Denmark 7 12/15/04 1074500 64100 

71 Real KredK 6 10/01/26 934500 67900 

85 Nykrettit 7 10/01/29 974000 7.1700 

122 NyfuredlY 6 10/01/26 934000 64000 

162 Denmark 7 02/15*81004000 6.9600 

17H Denmark TbBIs zero (0402/98 997493 37400 

Rnk Nant Cpn Mammy Price YieM 

67Tmutiand 6ft 07/09/03 1069000 67000 

68 Germany 3 K 0418/99 984200 34400 

69 Germany 5 0)21/01 1004200 4.9600 

70 Germany 8ft 05/22/00 109.7300 7.9700 

72 Germany 6ft 0V1 5/00 1014777 67800 

73 Germany Trills zero 04/17/98 984563 34300 

76 Germany 4ft 11/2)01 994967 4.7700 

77 Germany 8ft 07/2Q/00 110.1 80D 7.9400 

78 Germany 5ft 11/21/00 1017100 54600 

SOTreuhand 6ft 04/2)03 106.1700 6.1200 

81 Germany 5K 02/21/01 1014400 5.1700 

82 Germany 6ft 07/15/03 1067000 6.1100 

84 Germany 6ft 0V22/03 1077800 67900 

97 Germany SP zero 07/04/27 157700 64300 

98 Germany 8ft 0)21/00 109.7600 7.7400 

99 Germany 6ft 07/1 5AM 107.9825 62500 

100 Germany 6ft 12/02/981027700 64900 

ItnTreuriand 6U Q3AMAM 1057525 5.9400 

lOSTreuhand 7 11/2S99 104.99S0 64700 

107 Germany 7ft 01/20/00 1057200 64600 

112 Germany 8ft 0)21/01 1117650 74300 

114Tieuhand 6ft 07/29/99 103.1500 6.0600 

IlfiTrcuhand 5ft 09/24/98 1017200 54500 

121 Germany 5ft 05/2)99 1027100 54300 

123 Germany 7ft 02/21/00 1064900 77500 

126 Germany FRN 1048 09/30Q4 99.1500 3.0700 

128 Germany 3ft 12/1808 994600 34200 

129 Germany 6U 02/2)98 1004600 67200 

130Trauhand 6ft 060)98 1017700 64500 

137 Germany 6ft 01/02/99 1024500 67400 

145 Germany 6ft 02/2)99 1037500 64600 

151 Germany 6 02/2)98 1004100 5.9700 

160Treuhand 6ft 03/2)981004190 6.1200 

167 Germany 6ft 0)2)99 102.7U00 5.9600 

lSODeutBundbahn 7ft 1)3)02 1094250 64300 

182 Germany 5ft 02/22/99 1014100 57000 

200 Frankf! HypObk 5ft 11/S3/M 100.1500 54900 

208 Commerzbank 373 01/20/98 99.9922 17300 

210 Germany 6ft 12/21/98 1013700 67300 

216TmuHond 6 11/12/03 1019100 57700 

223 Germany FRN 3ft 04/0)00 99.7183 12600 

224 German States 6 01/29/071024217 54600 

226 Germany 6ft 01/2)98 1004000 67500 

233 Germany 5ft 02/25/98 1007500 57300 

236 Hessen Land » 01/3)081004000 17200 
243 Germany 5ft 09/2)16 964500 5.8300 

250 Germany 6ft 0)20/98 10T7000 6J000 

Cpn Maturity Price Yield 

Japanese Yen 

120 World Bank 
144 World Bank 
152 Wdrld Bank 
189 NTT 

230 EIB 

231 Fu|l Inti 

Swedish Krona 

109 Sweden 1037 
117 Sweden 
119 Sweden 1036 

U.S. Dollar 

Dutch Guilder 

101 Korea Dev Bk 
106 Russia 
173 Brazil S.LFRN 
118 Mexico 
125 Gillette 

218 Denmark 
232 Realkredlt 

02/15/00 984500 4.0600 
1)01/29 97.1500 77100 

Deutsche Mark 

1 Germany 6 07AMAJ7 T0244B3 54500 

2 Germany 4 09/17/99 994000 44100 

4 Germany 4ft 0B/19AO 974900 4.6000 

5 Germany 6ft 07AM/27 1054600 6.1900 

6 Germany 6ft 04/26/06 105.1 B75 5.9400 

7 Germany 6 01/0)071027004 54700 

9 Germany 4ft 0)17/02 98.1320 44900 

•lOGermany 8 01/21/021117800 7.1900 

11 Treuhand 7ft 12/02/02 1034752 7.1500 

12 Germany 7ft oiAnns 11 14482 64200 

13 Germany 8ft 0)20/01 1104746 7.7100 

lSGermany 8 07/22/02 112.0450 7.1400 

20 Germany 6ft 10/14/05 1047356 67300 

22 Treuhand 7ft 1)01/02 1117900 6.9600 

23 Treuhand 7ft 0)09/04 1094823 64500 

24 BundesabOgadan 4ft 02/22/02 984725 44700 

40 Netherlands 
53 Netherlands 
83 Netherlands 

91 Netherlands 

92 Netherlands 
103 Netherlands 
108 Netherlands 

110 Netherlands 

111 Netherlands 
115 Netherlands 
124 Netherlands 
136 Netheriands 

5ft 02/1)07101.9000 54400 
6ft 07/15/981017700 6.1700 
8ft 03/1)01 1114000 74600 
9 01/1)01 1124000 84400 
6 01/15/06 1034000 5.7800 
7ft 01/15/23 1184500 67200 
8ft 09/1 5A11 113.0500 7.7400 
6ft 11/15/05 1084500 67100 
8ft 02/1)00-1074500 74600 
7ft 04/1)101167500 64500 
5ft 09/15/D2 102.9000 54900 
5ft 01/15/041024000 54900 

T48 Poland Inter 
154 Mexico 

138 Netherlands SP zero 01/1503 204000 64400 

26 Germany 
28 Germany 94 
30 Germany 
32 Treuhand 
34 Germany 
36 Germany 
37 Germany 

38 Treuhand 

39 Germany 
41 Gem any 

43 Germany 

44 Germany 

45 Germany 

46 Germany 

47 Germany 

40 Germany 

50 Treuhand 

51 Germany 

58 Treuhand 

59 Germany 

60 Treuhand 

62 Germany 

63 Germany 

64 Germany 

65 Germany 

66 Germany 

6 01/0)06 1037750 54100 
6U 01/04/2 4 101.9667 6.1300 
Bft 09/2)01 1114617 74000 
6ft 06/11/03 107.9700 67700 
6ft 0)12/05 1084033 67200 

9 1)2)00 111.4920 80700 
Bft 02/2)01 110.9800 74600 
7ft 01/29/03 1089233 64400 
3ft 03/1)99 994592 3.7600 
6ft 09/1)99 1044953 64600 
7ft 11/1 1AM 1127550 64800 
5 0)2)01 1004500 4.9700 
8ft 12/20/00 1114250 7.9500 
9 01/22/01 1127200 84200 
7ft 1)21/02 1064729 6.7800 
5ft 08/22AX5 102.9000 54900 
6ft QV13/04 1074067 67600 
3ft 09/1)98 994400 34100 
6ft 07/01199 103,1000 6.1000 

7 01/13/00 1057025 64500 

5 12/17/90 100.9500 4.9500 

6 09/15/03 104.1100 57600 
6 0)20/16 101.0500 5.9400 

5vi 0)1)00 103.1000 5.7000 
6 02/16/06 1034000 54000 
7ft 12/2)02 108.9200 64400 

140 Netherlands 
143 Netheriands 
156 Netherlands 
173 Netheriands 
177 Netheriands 
202 Netheriands 
204 Netherlands 
21 7 Netheriands 
237 Netheriands 
239 Netheriands 
241 Netherlands 

94 France OAT 
186 France BTAN 
188 France OAT 
190 France BTAN 
194 France OAT 
196 France OAT 
198 Britain 
225 France BTAN 
227 France OAT 

7ft 0)1)991044500 7.1700 
7ft OlAS/OQ 1064000 77800 
6ft 02/1)99 1024000 64600 
7 02/1)03 1084500 64500 
8ft 02/15/02 1127000 77500 
7ft 03AU/D5 1 14-3000 67800 
7ft 07/1)99 1044000 6.9400 
Bft 06/1502 1124500 77100 
7 03/15/99 1034100 67700 
6ft 07/15/98 1014000 64000 
7ft 1)01/04 111.1000 64300 

5ft 04/25AJ7 98.7000 54700 
6 03/16/01 1024375 54300 

6 04/2)04 103.1800 54200 
4ft 07/12/02 977800 44300 

7 04/25/06 1097384 64100 

6ft 04/2)02 1064000 67700 
zero 05/14/98 974736 44600 
7ft 03/16/98 100.7500 77000 
10 02/26/01 1144000 8.7300 

French Franc 

131 Cybennd FRN 3448 07A16/U2 1004400 34400 
147 France OAT SP zero 1)2)25 1)9500 6.1300 
149 France BTAN 4ft 07/12/02 987300 44900 
158 France BTAN 4ft 04/12/99 100.7300 4.72QO 

170 MBNA 5W 11/19/02 1007000 57500 

171 France OAT 5ft 10/25/07 99.9800 5 4000 

Greek Drachma 

248 Greece FRN zero 12/31/02 977000 0.0000 

220 Bayerische LB 

221 Bulgaria 
228 ADB 

228 ADB 6U 10/2402 1007750 67300 

229 Argentina 8ft 05/0 W2 924333 94300 

234 Finland 5ft 02/27/06 987500 5.9800 

235 Canada 5ft 01/30/01 984538 54900 

238 Midland Bk Fm 6ft 12/31/99 B64447 77900 

240 Italy Reglst. 

242 Philippines 

244 Brazil L FRN 

245 Argentina 

246 British Telecom 

5 0)2)01 1107000 44300 
8ft 10/07/16 89.1689 94100 
6 Vis 04/15/06 794514 84200 
11 10/09/06 1037750 1044ft) 
7 05/23/07 T 04 4000 6JD00 
6ft 1)2)02 1004759 67900 

The Week Ahead: World Economic Calendar, Nov. 24-28 

A sa-.tnMa cr? tfw wstt's ecananeanti financial averts, competed /bribe tntarnaoanal Hvakt Tribune by flfecnifcwB Business Ataw 


icted Hong Kong: Ericsson Radio Sys- 
Week lem AB holds symposium entitled 
“Wireless Communication In the 
21st Century," Wednesday and 
Thursday; 10th Asia-Pacific Finan- 
cial Market Assembly, Friday and 


Bern: Federal Statistics Office re- 
leases consumer price index for 

Madrid: Bank of Spain releases 
September current-account figures; 
October budget deficit 
Zurich: October money-supply da- 

Nov. 24 

Nov. 25 

Auckland, New Zealand: Skellerup Munich: Bundesbank council mem- 
Finance Ltd.'s bondholders meet to ber Peter Schmidhuber speaks on 
discuss the company's future. monetary stability under economic 
Sydney: Australian Business Cham- and monetary union, 
ber briefing on Southeast Asian eco- Prague: October trade data, 
nomic crisis. Wiesbaden, Germany: October im- 

port prices and producer prices. 

Tokyo: Ministry of International Montabaur, Germany: Hans-Juer- 
Trade and Industry releases figures gen Koebnldc, a Bundesbank coun- 
on October crude-oil imports; Japan dl member, speaks on EMU. 
Department Store Association re- Paris: October consumer prices, 
leases nationwide sales figures for Stockholm: October producer price 
October. index; trade balance figures. 

Wednesday Tokyo: Japan Automobile Manufac- 
Nov. 26 turers Association may release fig- 
ures on vehicle output in October 
Bank of Japan releases monthly out- 
look on economic trends. 
Wellington: Producer input and out- 
put prices in third quarter. 

Nov. 27 

Nov. 28 

Manila: Third-quarter estimate of 
gross national product. 

Tokyo: Japan Automobile Manufac- 
turers Association to release figures 
on vehicle exports in October. 
Wellington; Imports in October. 

Bangkok: Bank of Thailand an- 
nounces monthly trade, investment 
money-market and foreign- reserves 

Tokyo: Industrial output in October; 
housing starts and construction or- 
ders for October. 

London: Harmonized index of con- 
sumer prices for October. 

Paris: Cegetel to unveil prices for 
long-distance telephone services to 
compete with France Telecom; 
household consumption figures for 

Copenhagen: October unemploy- 
ment data. 

Oslo: November jobless figures. 
Paris: November business confi- 
dence survey. 

Rome: August employment num- 
bers at large industries. 

Helsinki: September gross domes- 
tic product figures. 

Madrid: National Statistics institute 
releases third-quarter unemploy- 
ment survey. 

Paris: October employment statis- 


Vancouver, British Columbia: 
Asia-Pacific Economic Cooperation 
leaders meeting, through Tuesday. 
Earnings expected: Dell Comput- 
er; Intuit, Novell, Newbridge Net- 
works, Bank erf Montreal. 

New York: Asia Society to hear ad- 
dress by Kyung Shik Lee, governor, 
Bank-of Korea, on economic sit- 
uation in South Korea. 

Washington: Treasury Department 
releases October budget statement; 
weekly report on planting progress. 

New York: UR Redbook Research 
service releases weekly survey of 
total U.S. store sales; Conference 
Baird releases consumer confi- 
dence Index for November. 
Washington: October home re- 

Washington: Commerce Depart- 
ment reports October durabte- 
goods orders; Mortgage Bankers As- 
sociation of America releases week- 
ly report on mortgage applications. 
Earnings expected: Walt Disney 
Co., Bombardier Inc. 

United States: Markets dosed for 
Thanksgiving Day. 

Chicago: Purchasing Management 
Association releases overall man- 
ufacturing index for November. 
Washington: Commerce Depart- 
ment reports personal income and 
spending for October. 

country has been. Bulgaria, up 47.25 
percent. Ithad been up59percent ante 
end of the second quarter. Brazil is up 
5.1 percent, down from 16 percent 
after the second quarter, and Russia is 
down 4.4 percent after having gained 
IS percent after the first two quarters. 

Brazilian debt was tbe most traded of 

all, accounting for 25 percent of all 
bonds traded, although trading in 
Brazilian bonds declined to $332 billion 
from $436 billion in the second quarter. 
Argentine debt was next at $312 billion, 
or 23.7 percent of trading, and then 
Mexico at $228 billion, or 17 percent. 

GmfMbv Oiir Staff From Dapetdiet 

NEW YORK — Analysts are divided 
over whether Asia’s economic prob- 
lems will help the rally in the Treasury 
bond market continue this week, taking 
the 30-year yield below 6.0 percent 

Many predicted the Asian situation 
would continue to set the tone for die 
market after reports that Yamaichi Se- 
curities Co. had asked to cease oper- 
ations. In addition, they said South 
Korea’s financial troubles could 
strengthen theflight-tx>-quality trend that 
has been bolstering bond prices. On Fri- 
day, South Korea requested and received 
a pledge far aid from the International 
Monetary Fund, but the market has yet to 
see the size of the IMF package. 

U.S. baud yields have fallen nearly 

5V, 03/2)02 1174000 44700 
4ft 06/2)00 1094750 4.1000 
4ft 12/2)04 1204000 3.9400 
2ft 07/25/07 1027500 24400 
570 02/17/00 984144 57B00 
2ft 09/2)07 1004000 2.1100 
075 02/01/02 704305 07500 

161 SEK 671 06/19/00 994750 67200 

163AiB«nHna 8ft 120)03 927750 97700 
164 Modes par B 6U 12/31/19 80.7500 7.7400 
165Canada 6ft 07/15/02 1007804 6.1000 

166MadeoCFRN 4.719 12/31/19 907806 74300 

168 Brazil Cbmd 51. 4ft 04/15/14 814485 54200 

169 EIB 7ft 04/23617 1077000 17800 

172 Brazil 6 0)1)13 767750 74600 

174 Peru 3ft 03/07/17 504125 44000 

176 Bco Brosfl FRN 4.646 1)14/99 83.1428 7.990 0 
179 Kellogg 6ft 0)D4/01 1 MU 818 11100 

1B1 Argentina FRN 5457 04/01/01 105.9883 57300 

183 Credit Local 6ft 02/1)041004250 14600 

184 Venezuela parB 6ft 03/31/20 85.7500 74700 

185 Venezuela FRN 6ft 0)18/07 88,0000 74700 

191 Ecuador FRN 0)2)25 727000 97900 

192 BGB Fin Ireland 6M 03/19/01 100.1250 67400 

193 Italy FRN 5456 06/2)01 100.9583 54000 

195 Peru 4 0)07/17 57.7065 19300 

197MBL Irrtf Rn 3 11/3)02 1057660 24400 
199 Argentina FRN 5457 09/01 A»2 1134000 4.9700 

201 Ecuador 3ft 02/2)25 52.1250 17100 

203 DSL 6ft 04/17/00 1004250 13400 

206 Nigeria FRN 5792 01/0)10 467000117600 

207 Canada 6ft 0)2)06 1011250 14800 

211 CADES zero 0)14/98 944623 77600 

2130 Bancairefro 5419 10/WW 994000 54400 
215 Mexico 9ft 02/06/01 1047000 93800 

219 CADES FRN 1531 12/1)01 994000 54500 

220 Bayerische LB 6ft 0)2)071026250 6.4600 

221 Bulgaria 2ft 07/2)12 . 577000 34500 

228 ADB 6ft 10/2)32 1003750 67300 

229 Argentina 8ft 05/0)02 924333 94300 

234 Finland 5ft 02/27/06 987500 5.9800 

235 Canada 5ft 01/30/01 914538 53900 

Global Fund Managers 
Turn to Europe and U.S. 

8 0)1 5/07 112.7300 7.1000 
11 01/21/99 1064140 103400 
10U 0)05/00 1104060 97800 

3 Brazil Cap S.L 4ft 04/15/14 847678 53500 
14 Brazil FRN 6 Oft 01/DT/0T 93.1500 73100 

16 Argentina part 5ft 0)31/23 684000 87300 

17 Brazil L FRN 6% 04/1)06 813949 87200 

19 Argentina FRN 6Vu 0)29/05 843158 73300 
25 Mexico lift 05/15/26 1129461 10.1800 

29 Brazil 10ft 0)1)27 877507114300 

33 Argentina 9ft 09/19/27 88.9875 10.9600 

42 Russia 10 06/2)07 844833 1 14200 

49 Argentina lift 01/30/17 1044290 103900 
54 Venezuela FRN 6ft 12/1)07 883300 74200 

61 Venezuela 9tk 09/1)27 873522103900 

74 Brazil par 21 5ft 04/15/24 67.7500 7.7500 

75 Bulgaria FRN 6V» 07/2801 744875 8.9500 

79 Venezuela par A 6ft 03/31/20 84.8750 7.9500 

86 Italy 6ft 09/27/23 1023509 6JOOO 

88 Bulgaria FRN 6V» 07/2)24 74.1799 97200 

89 Mexico FRN 6ft 12/31/19 80.7500 7.7400 

90 Mexico par 6ft 12/31/19 80.7500 7.7400 

93 Brazil SJD FRN SV» 04/15/24 76.9400 S4900 

96 Brazil S.L FRN 6ft 04/15/09 773413 8.7400 

101 Korea Dev Bk 7ft 0)1 SAW 91.4882 7.9200 

1 06 Russia 9ft 11/27/01 100.0242 93500 

1 13 Brazil S.L FRN 6ft 04/15/12 71.7500 94100 

ItBMedco 9ft 01/154)7 1033696 93600 

125 Gillette 6 11/14AD0 101.1SOO 53300 

127 Mexico A FRN 6493 12/31/19 90.1563 74200 

132 Brazil Bft 11/05/01 963145 93100 

133 Poland FRN 6V* 1)27/24 953280 77200 

134 Nigeria 6M 11/1)20 703000 83700 

135 Ecuador FRN 3M 0)2)15 653799 4.9300 

139Argeflllm FRN 6ft 03/31/23 803500 85700 

141 Mexico B FRN 6417 12/31/19 88.8700 74500 

148 Poland Inter 4 1)27/14 843750 4.7100 

ISOMyrifa FRN fift, 09/09/07 763805 8.7000 

154 Mexico lift 09/15/16 1103000 103900 


HONG KONG — Asia's economic 
woes have provoked a major shuffle in 
global portfolios, with many fund man- 
agers heavily overweighted in cash and 
looking for opportunity. 

So far, a fondness for European equit- 
ies as well as for hedge funds and bonds, 
particularly U.S. Treasury issues, has 

‘ ‘People are starting to talk about this, 
partly because the impart on the United 
States could be more severe than most 
people anticipate," said Robert Roun- 
tree, regional strategist at Nomura Re- 
search Institute in Hong Kong. 

Europe, which continues to experience 
an export-led recovery, is considered 
more protected from tbe trouble in Asian 
markets, and its economic growth is ex- 
pected to suffer significantly less than 
that of foe United States, which sends 
nearly 40 percent of its exports to Asia. 

"European equity markets probably 
provide foe best blend of earnings mo- 
mentum, valuation and risk and are con- 
sequently our preferred area for equity 
investment," said Mark Richardson, 
chief executive at Chase Asset Man- 
agement With U.S. equities looking ex- 
pensive, U.S. Treasury bonds are gaining 

favor. Hie U.S. Federal Reserve Board’s 
recent decision to leave interest rates 
unchanged also helped to enhance the 
bonds’ status as an investment haven. 

Deutsche Morgan GrenfeU has a tar- 
get yield of 5.70 percent for the 10- year 
Treasury bond, now trading at 5.81 per- 
cent, but it warned thatmuch of the good 
news has already been priced into foe 

“We believe that at these levels 
Treasury yields are entering dangerous 
territory," the broker said. "The dis- 
inflation/deflation story is now familiar 
to all investors, a favorable Treasury 
supply situation is apparently assured, 
and foe Fed is presumed safely out of the 
picture for a while." 

With yields falling as their prices have 
risen. Treasury bonds have become slow 
to respond to good economic news, DMG 
said. "Given portfolio manager positions 
and the extent of familiari ty with the 
shnrir emanating from A ri a/emer ging 
markets," it said, “there is a significant 
temptation to be looking for levels to be 
shorting the Treasury market" 

■ But bonds in general remain a good 
option for investors concerned about 
how equity markets will respond to the 
Asian crisis, fund managers said. 

as troubled Asian markets sent investors 
scurrying to the guaranteed returns and 
stability of U.S. government debt The 
price of the benchmark 30-year bond 
rose last week, wiring fts yield down tq 
6.04 percent from 6.09 percent ■ 
Anthony Hian. chief economist at 
BancO ne, said he did not see an end to 
the Asian market turmoil in the near 


term, adding that with foe IMF set to baij 
out South Korea, "there has to be some 
sense that there’s less inside foe cookie 
jar” for foe next troubled economy. 

Mr. Chan predicted the U.S. bond mar- 
ket would continue to take its tone fronij' , 
the situation abroad. He also noted thaj* 
foe Asia situation "allows this market to 
react to good news, bat virtually ignore 
bad news,” boding well for prices- 
For those analysts who see foe eco- 
nomic woes abroad creating only a mild 
drag on foe U.S. economy, the bond 
market looks vulnerable. 

"All those people who looked for 
safe harbor in bonds are going to go 
back, to more exciting water in stocks," 
said Peter Canelo, a strategist at Morgag 
Stanley Dean Witter, suggesting foe re- 
turn on bonds is too paltry to compete 
with, foe potential payoff on stocks. . 

"I think yields are too low. The econ- 
omy is absolutely doing well," he said 

‘The prudent investor should be selling ^ 

bonds." T 

Sane analysts expect a volatile week 
because trading desks are likely to bp 
understaffed, with many participants on 
vacation. The bond market will be closed 
Thursday for Thanks giving Day. , 

In those situations, "there's a tench 
ency to overreact to news and infor- 
mation," said Robert Froehlicb, chief 
investment strategist at Kemper Fundsj 
One set of data he said had foe pot 
tential to cause such an overreaction is 
foe consumer s entime nt reports. The 
Conference Board and the University of 
Michigan will both release November 
sentiment readings Tuesday. 

Economists said ocher data to watefc 
next week included foe October durable 
goods report and the Purchasing Man- 
agement Association of Chicago's^, 
November survey, both due out Wed-“ 
nesday. (AP, Bloomberg, Bridge News) 

New International Bond Issues 

Complied by Laurence Desvilettes 

157 Medea D FRN OV 1* 12/28/19 94.0000 73500 



Floating Rate Notes 


Azores Region 

BGB Finance Ireland 
Goldman Sadis Group 

Inslttuto de Credrto Ofictai 

MBNA Master Credit Card 
Trust II 

Stale Bank of New South 

Canary Wharf Finance 

Mercury European 
Privatisation Trust 

ttaca Number 1 

Inn Finance Corp. 


European Investment Bonk 
New South Wales Treasury 


UPM-Kymmene ' 

World Bonk 

European Investment Bank 

Export-Import Bank of 

Ko mm unaltered! t 

Canary Wharf Hnanca 
Canary Wharf Finance 

(nwsterinCsbank Voar 

Abbey Naflanal Funding 

Helios Corp. 

kommunbivest In Sweden 




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1998 038 10030 “ 

2002 035 99393 “ 

2002 037 100.00 

2002 ft 99.42 
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Last Week's Markets Euromarts 

Stock Indexes 

Untied Stales 
DJ Indus. 


DJ Trans. 
SAP 100 


Nasdaq Cp 
J apa n 
S 225 


1st Indus. 



Hang Kona 
Hang Seng 

CaK money 
3-flHmtfi Intertrank 

1672158 1608232 
4,98530 474130- 
677190 672430 
2361.18 230674 
495949 473034 
1OS4830 9,95733 

Money Rates 

Unlteri States Not. 21 Not. 14 

uereoreirrotg 570 570 

Prtmerate 8M Vh 

Federal funds rata Sft siw 

450 OJO 
048 040 
OSS 047 

130 430 

3ft 3ft 

39k 3fe 

430 430 

343 445 

339 330 

Eurobond Yields 

HM.Z1 mUYTHen Yrkra 

Rant base rats 
Cal owner 
3-Hwndi hdertwnk 


intwvmflan nrie 
C ofl mon ey 

34nantti tntubaift 

1/3.6 long term 
UJ.t OKljatern 
IJ5. 6 short term 
Pounds stating 
French francs 
Holton Bre 
DanWi kroner 
ECUs, tong term 

629 437 
617 429 
402 403 
735 736 
619 426 
534 699 
547 176 
5.70 671 
598 603 
651 651 
651 546 
405 610 
748 743 
138 131 

739 639 

634 409 
631 533 
7J5 630 
534 446 
7.79 679 
693 636 
673 432 
642 676 
659 476 
451 636 
039 626 
2.15 138 

Col money 
34Hrdh Infefbank 

Wbrid Gold Not. 21 Nov.l4%Qriw 

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Wbritf In der (mat MotvmStoity&pM Inti Perafiedhe. 

SovmKLMm emi i gsb ttR au i i u ug u. 

Libor Rates 

Soe/rm: UofOsBonK Rentm, 

Weekly Sales 

Primary ftiricet 

S IM S Meat 

Stratgte 162.1 ^0 1,9183 

Convert. 06 — 993 30* 

FRNs 5224 6049 2700 1,1 78? 

ECP 114245 9,9993 167163 8,9193 

Trial 12,1113 11,1463 144383 I4ol^8 
Secondary Martwt 

t ■ tfent ■ t Hoia 
ShrighbdJJDM 21338310US15 31.12&5 
Coawt 1JJ62J0 13324 34323 47075 
FRNs 261493 12.1161 560713 63754 
ECP 17,1213 143736 293944 
TOM 706054 49,76021 91451 6 769444 
Stmoe: Eundetr, Getkt Bank. 
















PACE 15 


J B° e i n g and Asia: Misery Loves Company 

^ BI.HHnfxrg A,-,,-, 

Ml British pettier, and not have to because Boeing could which analysts say almc 

'/[ Columbia — Asian airlines have not ru^^ n to °9f mutua l benefit,” Mr. not get the aircraft there on time will .be to announce the 

„ . coming together and 

to our mutual benefit,” Mr. 
Clarkson said at the Asia-Pacific 
economic Cooperation summit 
meeting, where President Bill Clin- 
ton of the United States and leaders 
Tram the Pacific region are meeting to 

.... discuss trade and economic issues. 

The economic crisis in A«ii »«■> based in Seattle, has 

forced governments and •!■?? mu ?A t0 ,ose Asia's currency tur- 

Columbia- Asian airlines have not 
canceled any orders f TOm 

Co., although they are grateful rhf 
aircrafimaker delayed romfdd*! 
enes because of the company's own 
production problems, a Boeing ex- 
ecutive has said. h 

not have to because Boeing could 
not get the aircraft there on time 
anyway. He declined to say which 
airline it was. 

As airlines plow profits into buy- 
iners, Boein 

ing new jetliners, Boeing has been 
trying to increase production to re- 
cord levels by hiring thousands of 
workers. Costs associated with the 

forced governments and comDani« ““if*. io ,ose u **** * currency tur- hiring forced the company to lake a 
there to scale back ambitions in “®ds to a prolonged economic $1 billion charge in the third quarter, 

vestment plans, and anal v*;tc s,um P- Asian airlines such as Singa- That left Boeing with a loss of $696 

cancellations of at least some ???• A “ lines Ltd - and Malaysian million. 

billions of dollars wort? oT SSlSj Bhd. are among the 

orders from the re gTo n ° ? 0r [ d ’ s biggest aircraft bu?«s. 

" * — Each has billions of dollars worth of 

But Larry Clarkson, president of 
Boeing Enterprises, a subsidiary that 
was set up to pursue new business 
for the company, said Saturday that 
no airhne had called the company to 
cancel orders. Thai is in pan braise 
Boeing has had to delay deliveries 
because of production bottlenecks. 

Right now. it looks like these 

orders pending at Boeing. 

But the tumbling value of Asian 
currencies makes it more expensive 
for Asian airlines to buy aircraft 
because jetliners are sold in dollars 
all over the world. 

One Asian airline executive was 
considering delaying orders with 
Boeing, Mr. Clarkson said, but did 

* Singapore lo Quit Alliance 

Delta Air Linns Inc. and Swissair 
AG will drop their alliance of eight 
years with Singapore Airlines, 
Bloomberg News reported from At- 

Delta said Singapore Airlines “is 
expected to announce a new ar- 
rangement soon." Singapore Air- 
lines and Lufthansa AG are plan- 
ning a news conference Monday, 

which analysts say almost certainly 
will .be to announce the terms of a 
new. bilateral partnership. 

The move leaves Delta and 
Swissair searching for an Asian 
partner to compliment their four- 
way European partnership that also 
includes Austrian Airlines AG and 
Sabena Belgian World Airlines. The 
airlines won U S. approval to co- 
ordinate their trans-Atlantic fares 
and marketing last year. 

The alliance with Singapore Air- 
lines “has not realized the success 
of other cooperative arrangements 
like our European partnerships,” 
Robert Coggin. Delta’s executive 
vice president for marketing, said. 

Delta said it planned to "aggress- 
ively pursue” other opportunities to 
expand services to Asia, a coveted 
market for airlines because it is ex- 
pected to surpass the United States 
as the world’s biggest air market 
after the turn of the century. 

«f ; 

Kimberly-Clark to Cut 
5,000 Jobs to Reduce Costs 

Bhtomfrcrg News 

IRVING. Texas — Kimberly- 
Clark Corp. plans to fire about 5.000 
employees, or 7 percent of its global 
work force, to trim costs as com- 
petition forces it to cut prices for its 
consumer products. 

The maker of paper-product 
brands as Kleenex, Scott, Kotex and 
f Huggies, plans to take a fourth- 
quarter charge of $590 million to 
reduce staff and close, sell or shrink 
as many as 18 plants worldwide. 

| The moves are expected to save 
$200 million annually by 2000 as 
the company seeks ways to meet its 
goal of doubling earnings per share 
from operations to $3.86 by 2000. 
The company missed earnings fore- 
casts in the past as product prices fell 
because of overcapacity at its plants 
and tough competition from Procter 
& Gamble Co. and others. 

“This helps reassure investors 
that they can at least make con- 
sensus estimates for next year/ * said 
Andrew McQuilling, an analyst at 
Schroder & Co. who has a “buy"’ 
rating on the stock. The company 
fe announced the measures late Friday, 
after U.S. markets were closed. 

About 60 percent of the cost-cut- 
ting wilt be in North America. 

The company plans to sell a tissue 
mill in Winslow. Maine, and shrink 
another one in Marinette, Wiscon- 
sin. The other plants will not be 
identified until employees are told, 
the company said. 

The restructuring of the com- 
pany’s tissue operations accounts 
for about 70 percent of the fourth- 
quarter charge, the company said, 
while the rest relates to its personal- 
care operations. 

The company said the plant con- 
solidation would result in fewer, lar- 
ger and more productive facilities. It 
also will eliminate excess produc- 
tion capacity, including mare than 
200,000 metric tons of high-cost 
tissue manufacturing. 

The company said it needed to 
shrink the tissue operations because 
its plants had become more effi- 
cient. The efficiency efforts out- 
paced growth in demand for its 
products since buying Scott Paper 
Co. in late 1995. 

“This is the first time you have 
seen manufacturing capacity com- 
ing out of the industry and this is a 
very good sign in terms of pricing/ ’ 
Mr. McQuilung said. 

Increased competition in Europe 
and lower selling prices for Kim- 
berly-Clark’s products around die 
world will trim its 1997 profit by 
about $250 million compared with 
last year, the company said. The 
company said it expected to save 
$100 million before taxes next year. 

The cash cost of the charge for 
severance, removal of equipment 
and other actions will comprise 
about 35 percent of the total charge, 
or less than $100 milli on, after a 
$220 million tax benefit. 

Organization of Petroleum Exporting Countries, Purnomo 
Yusgiantoro, left, walking with the OPEC secretary-general, 
Rilwanu Lukman, Sunday in Jakarta. The cartel is expected to 
raise production quotas at its meeting this week in Indonesia. 

Generali Set 
To Increase 
Bid for AGF 

Ctnqji/rd /r Our Stjff Fnmi Dajxin iri 

ROME — Italy’s largest insurer is 
preparing to fight with a.Genran rival 
for control of Assurances General es 
de France by asking shareholders to 
approve a much larger capital in- 
crease than originally planned. 

Assicurazioni Generali SpA said 
Saturday it wanted to sell about 7.50 
trillion lire (54.37 billion) of new 
stock and bonds, about three times 
the amount it planned when it 
launched its bid for AGF last month. 
Shareholders are to vote on the cap- 
ital increase Jan. 10. 

Generali offered to buy AGF, 
France’s third-biggest insurer, for 
300 French francs a share, or $9.5 
billion, on Oct. 13. Last week. Al- 
lianz AG of Germany topped Gen- 
erali’s bid, offering to pay $1 0.4 bil- 
lion, or 320 francs a share. 

Taking into account free capital 
and bank loans, analysts said Gen- 
erali was preparing a war chest of 
more than 20 trillion lire for the 
takeover of AGF, which could result 
in a counteroffer of about 370 francs 
a share, Italian newspapers said. 
Generali said it would decide 
whether to raise its bid for AG F after 
the French government approved 
the original bids for AGF by Gen- 
erali and Allianz. 

Generali said it would go ahead 
with raising the capital even if it did 
not sweeten its offer for AGF, leav- 
ing open the possibility that it might 
offer to buy AMB Aachener & 
Muenchener Beteiligungs AG, a 
German insurer. 

Analysts have said that to placate 
Generali, Allianz might seek to 
swap its and AGF s stakes in AMB. 
On Tuesday, Allianz said its 5 per- 
cent AMB stake and AGF’s 33.5 
percent bolding were “not strategic 
investments." An Allianz spokes- 
man declined to comment on Gen- 
erali’s announcement Saturday. 

Allianz and AGF would have 
combined premium income of 1 10 
billion Deutsche marks ($62.9 bil- 
lion) and total assets under man- 
agement of 480 billion DM, Allianz 

A combination of AGF with Gen- 
erali would create an insurer with 
more than 54 trillion lire ($31.49 
billion) in premiums and more than 
150 trillion lire of assets under man- 

For Generali. AGF is a key part of 
its plan to increase its market share 
in France. Generali’s chairman is 
Antoine Bemheim, a Frenchman 
and former senior partner at Lazard 
Freres & Co. 

( Bridge News. Bloomberg) 


Petroleum Exchanges Study Merger 

NEW YORK (Bloomberg) — London's international Pet- 
roleum Exchange is holding talks with the New York Mer- 
cantile Exchange about merging the world's two largest 
energy futures and options exchanges, the London exchange’s 
chairman said. 

The International Petroleum Exchange’s chairman, 
Richard Reinen, said executives of the New York market, the 
larger of the two, invited him to discuss joining forces Friday. 
The London exchange's board plans to decide early next year 
how to respond, he said. 

The merger talk came amid moves to expand around-the- 
clock futures trading as energy markets spread in emerging 
economies around the world. 

“This merger could increase sales volume for both ex- 
changes," said Aaron Gould, senior consultant ai Reed Con- 
sulting in Burlington. Massachusetts. “Bringing their two 
markets together could open a lot of possibilities for global 
energy companies." 

GM to Gose Assembly Plant in Flint 

FLINT, Michigan ( AP) — General Motors Corp. will close 
its Buick LeSabre and Pontiac Bonneville factory’, affecting 
about one-thud of the 9.500 workers at its vast Buick City 
complex here. 

The automaker said the 94-year-old assembly plant would 
close in 1999 and that the company would begin building an 
engine factory in the Flint area next spring. 

Most of the roughly 3.000 Buick City hourly employees, 
who were told about die closing Friday, will get a chance to 
work at other GM operations, the company said, although it 
did not have an estimate of how many would be retained. 

Waigel Vouches for Euro’s Strength 

MUNICH (Bloomberg) — Finance Minister Theo Waigel 
sought to calm concern within his party, the Christian Social 
Union, that Europe's planned common currency, the euro, 
would be less strong and stable than the Deutsche mark. 

At a party congress in Munich on Saturday. Mr. Waigel told 
delegates that the economic and fiscal criteria for currency 
union would determine the euro’s timetable. He also pointed to 
the future European central bank’s mandate and statute, which 
he said had been modeled on those of the Bundesbank. 

The resr of the European Union has “adopted Germany’s 
stability policy/ ’ Mr. Waigel said. The euro will be “as stable 
as the Deutsche mark” and the “second- biggest reserve 
currency in the world after the dollar.” he added. 

Easy Jet Drops KLM Complaint 

LONDON (Bloomberg) — EasyJet Airline Co. has 
dropped a year-old complaint of predatory price-cutting 
against KLM Royal Dutch Airlines it had filed with the 
European Commission, the low-cost British airline's chair- 
man and founder said. 

Stelios Haji-loannou, a Greek shipping heir who started 
EasyJet in 1995, said Saturday that KLM did not match a price 
cut made by EasyJet earlier this year and that the Dutch airline’s 
behavior had improved after a commission investigation that 
included raids on KLM’s offices seeking evidence. 

Italy Approves Cell-Phone Venture 

ROME (Bloomberg) — The Treasury has approved * * broad 
outlines” of a venture involving the state electric utility, Enel 
SpA, France Telecom SA and Deutsche Telekom AG to 
compere for Italy's third cellular-phone license and develop 
fixed-line telephone services. 

The alliance may compete with Telecom Italia SpA, Italy's 
national telephone company, after Italy's telephone market is 
opened to competition next year. The government is sched- 
uled to award a third license by January. 

France Telecom is to buy an undisclosed amount of 
Deutsche Telekom's 49 percent stake in the venture, with Enel 
retaining the other 5 1 percent. 

Some Advice Not to Follow Too Closely 

By Edward Wyatt 

New York Times Sen-ice 

NEW YORK — He knows how to 
get rich, and J. Morton Davis wants to 
share that knowledge — or, at least, 
some of it. 

In a new book, Mr. Davis. 68, the 
longtime head of D.H. Blair, one of 
Wall Street’s most prolific under- 
writers of initial public offerings, has 
apparently let a few details of his le- 
gend slip through the cracks. 

Such as how securities regulators 
have come down hard and often on 
D.H. Blair for its practices in selling 
shares of Mr. Davis’s deals ‘to indi- 
vidual investors. Or how investors in 
deals underwritten by the company the 
past four years would probably have 
been better off with a passbook savings 

Nevertheless, Mr. Davis said he saw 
his book — “From Hard Knocks to Hot 
Stocks: How I Made a Fortune Through 
Smart Investing and How You Can. 
Too/' scheduled for publication next 

year by William Morrow & Co. — as 
“a kind of philanthropy.” 

“When you get to be my age, and 
you’ve done well, you’d like to share 
with the world some of your wisdom,” 
Mr. Davis said in a recent interview. 
* ‘If you follow die strategies outlined in 
this book, you'll be very successful.'’ 

But investors who follow his advice 
too closely — that is, by buying IPOs 


underwritten by D.H. Blair and holding 
them for a longtime — are likely to find 
that many of their investments are worth 
only a fraction of what they paid 

D.H. Blair has long bragged about the 
performance of the stocks of companies 
it brings public. In his book, Mr. Davis 
cites a survey by the trade magazine 
Investment Dealer’s Digest showing 
that DJL Blair’s (teals performed better 
than those of any other Wall Street 
underwriter in 1994, 1995 and 1996. 

But that ranking measured perfor- 
mance only through the end of each 

calendar year in which the shares 
began trading. In his book, Mr. Davis 
advocates holding on far longer and 
investing ever-more money as a stock 
reac he s new highs — a technique he 
calls “pyramiding.” 

DJL Blair makes the process easy, 
in fact Most of its IPOs are sold in the 
form of units, comprising a share of 
common stock and one or two warrants 
to buy additional shares at a sum some- 
what above the initial offering price. 
The exercise of those warrants gen- 
erates additional cash for the company, 
as well as fees for DJI. Blair. 

Often, however, after an initial 
surge, which allows early investors a 
chance to cash out, many of the stocks 
underwritten by DJI. Blair have fallen 
into an extended decline, ultimately 
sealing at prices that are a mere frac- 
tion of what the original shareholders 
paid. Of 32 initial public offerings un- 
derwritten by D.H. Blair since the be- 
ginning of 1994, about one-third now 
trade for less than half their initial 
offering price. 

IMPACT: Wall Street Thrives 

Continued from Page 13 

percent fall thereafter. 

Under normal circum- 
stances, the stock market 
functions as a leading indi- 
cator. It rises in anticipation of 
earnings gains and falls at the 
first whiff of a possible earn- 
ings slump. Analysts say that 
this time that is not happening. 
Main Street, they say, remains 
stuck in its belief in the rally. 
As one analyst puts it, retail 
investors remain convinced 
that their stock portfolios will 
do what they have done for the 
past three years — post gains 
of more than 20 percent 

“1 just don’t think this bull 
market will last a fourth 
year,” the analyst said. 

Instead, the growing con- 
sensus among experts envi- 
sions corporate earnings fi- 
nally sagging in the second 
quarter of next year, brought 
down by drastically slower 
growth in Asia and Latin 
America. That, they say, will 

be the signal to sell stocks and 
to realize that corporate earn- 
ings do not rise inexorably. 

For now. Wall Street and 
Main Street agree that con- 
ditions are close to ideal and 
getting better. Interest rates 
are falling, inflation — helped 
in part by steep declines in the 
prices of imports from Asia 
— is moribund, and corporate 
earnings look solid. 

In fact, some think that this 
pessimistic talk about the so- 
called economic fallout from 
Asia is nonsense. They say that 
by spring it will be clear that 
the fears of the experts were 
hugely overdone. That realiz- 
ation will then, they predict, 
spark an rally in stock prices. 

“Everyone is cutting ex- 
pectations for economic 
growth and earnings/’ said 
Joseph Battipaglia, chief of 
investment policy at Grantal 
& Co. “I think it will be like 
setting the hurdles for an 
Olympic athlete half a foot off 
the ground.” 

BANKS: In Fits and Starts, China’s Financial Leaders Try to Firm Up Economy’s ‘ Soft Underbelly ’ 

Continued from Page 13 

Fund program to halt the free 
fall or its currency. 

Although China's currency, 
buttressed by huge foreign-ex- 
change reserves, is stable, of- 
ficials are scrutinizing the sec- 
tor that could be this powerful 
economy’s Achilles’ heel. 

"The’ condition of these 
bunks affects the health of the 
entire economy,” said the 
World Bank study “China 
2020." “So it is cause for 
concern that their financial 
performance is weakening: 
their accounting risk manage- 
\ mem and credit-analysis sys- 
1 terns are woefully inad- 
equate: and the quality of 
their portfolio is unknown/ 

.. Chen Yuan, deputy gov- 
emor of tire People’s Bank of 
China, the country’s central 
bank, estimated in a recent 

interview that 20 percent of 
outstanding bank loans are 
nonperforming, which the 
World Bank calculates gives 
the country's banks an overall 
negative net worth. That 
would put delinquent hank 
loans at $200 billion, or about 
20 percent of the gross do- 
mestic product, and make 
■three of the country" s four 
biggest banks insolvent. 

“Quite a lot of bank loans 
arc disappearing like stons 
i dropped into the sea." saida 
commentary last week in the 
slate-run Financial News. 

Mr. Chen estimated lhaid 
would take "several hundred 

Ilion yuan " — equal to sev- 
al dozen billion dollars — to 
capitalize the banking sys- 
m. Beijing can pay that, but 
would be bard to swallow. 
Oder the most likely plan, 
e Ministry of Finance would 
5 ue government bonds that 
Quid be exchanged for bad 
ink loans, thus replenishing 
“ banks’ capital. The plan 
ould more than triple the 
ivemmenl’s domestic debt, 
though China’s domestic 
ibt amounts to only about 7 
rcent of gross domestic 
oduct, far below the 60 per- 
nt levels common in indus- 
alized nations. 

The government also is 
nsidering selling shares in 
• banks to the public, Mr. 
ten said. 

The banking mess is a leg- 
y of China’s central plan- 
tig system. Before econom- 
reforms were introduced, 
m function of banks was to 
Dve money back and forth 
tween state enterprises and 
s central government treas- 
y. Loans were part of the 
ui, with credit allocated to. 
terprises according to the 
ivemmenl’s industrial and 
ilitical priorities raiher than 
y market-based worth. 

In recent years, state- 
med enterprises have had 
ruble paving interest on 
Minting debts. About half of 
lina’s state-owned enter* 

are losing money, ac- 
ting to the World Bi 


'i'nstead* of subsidizing 

them from the state budget, 
Beijing has passed the prob- 
lem on to the banks, directing 
them to “lend” money to 
keep enterprises afloat 

In 1993, the government 
initiated reforms to pur its fi- 
nancial house in order. It cre- 
ated three “policy banks” to 
take over government-direc- 
ted loans so the four enor- 
mous state banks could be- 
come true commercial banks. 
It strengthened the People’s 
Bank of China as the central 
bank. And it gave more au- 
tonomy to the four state com- 
mercial hanks while introdu- 
cing reserve requirements 
and other lending standards. 

Unfortunately, the reforms 
have had limited effect. Cor- 
ruption is one reason. Mr. 
Chen said a banker is pun- 
ished for improper behavior 
almost every month. Six 
weeks ago one was banned 
from the industry for life, and 
the case was handed over ‘to 
prosecutors for investigation. 

The Financial News said 
.the Sichuan branch of the 
People’s Bank of China had 
closed six ill^al financial in- 
stitutions and six illegtl fund- 
raising schemes involving a 
total of $7.2 million this year. 

But is not just corruption 
and cronyism that are plaguing 
China’s banks. Bad policy 
does. too. Policy banks were 
never given the money they 
needed to take over politically 
motivated loans. So, the World 
Bank Doled, state commercial 

banks still are not completely 
free to lend according to com- 
mercial criteria. 

At times, loans are made 
just to cover payrolls. When 
labor unrest broke out among 
unpaid textile workers in a 
small town in Sichuan over 
the summer, the central gov- 
ernment ordered the local 
branch of Industrial & Com- 
mercial Bank to “lend" the 
bankrupt textile mills enough 
to pay back wages. Industrial 
& Commercial, the country’s 
largest bank with more than 
half a million employees, re- 
cently said that one of its 
Sichuan Province branches 
had bad debts amounting to 
80 percent of its portfolio. 

The Finance Ministry com- 
pounds the banks* balance 
sheet woes by taxing the in- 
stitutions heavily to raise 
money to narrow the budget 

But some officials and ana- 
lysis see reasons for hope. The 
government has budgeted 
$3.6 billion this year to write 
off bad loans and enable some 
state enterprises to go into 
bankruptcy without sinking 
the banks. Over the summer, 
it barred banks from investing 
in the stock market, reducing 
the potential for sharp losses. 

The government also is 
consolidating urban and rural 
credit cooperatives, which are 
similar to Western savings 
and Joans. 

Nonetheless, several 
events could turn bank prob- 

lems from a nagging head- 
ache to a full-fledged crisis. 

One possibility: a real es- 
tate bust Nicholas Lardy, an 
economist at the Brookings 
Institution who specializes in 
China, said: “Real estate is 
obviously a big black hole for 
the banks, but they don't re- 
port their exposure. 1 doubt 
that they even know what it 
is.” Citing high vacancy rates 
“in Shanghai, Beijing and 
elsewhere and the amount of 
space coming on stream, 
there will be a continuing col- 
lapse of rents over the next 
few years,” he said. 

Another blow to banks 
would be a change in the 
spending and savings habits 
of the Chinese. According to 
a survey published last week 
in China Business Times, 
people in major cities put 53 
percent to 75 percent of thetr 
assets in banks. 

’ *1116 government is taking 
all the money from individu- 
als and giving it to the state- 
owned enterprises/* Wang 
Shan, a political analyst, said. 
“When people start to doubt 
they can get their money from 
the bank, that will create a lot 
of social instability.” 



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PAGE 18 

Foreman Calls 
It Quits After 
Loss to Briggs 

.. The AssttcUued Press 

ATLANTIC CITY, New Jersey — 
George Foreman left the ring for the last 
time — to a chorus of boos. 

The boos, however, wane from irate 
fans who thought he had outpointed 
Shannon Briggs. But Briggs won a ma- 
jority decision Saturday night in the 1 2- 
round bout 

“I had a wonderful career," said 
Foreman, a heavyweight champion in 
the 1970s and again in the 1990s, who 
win turn 49 on Jan. 10. "This is my last 

Then, at the post-fight press con- 
ference, Foreman added, "I planned — 
win, lose or draw — to bring my career 
to an end The days of a whining athlete 
have come to an end How can a guy say 
Tve been robbed' when I’m walking 
away with a milli on bucks." 

“I’m not at all bitter about any- 
thing," he said 

Foreman came out of his fust retire- 
ment in 1987 to make $100,000 for his 
youth center, and wound up with more 
than $100 million, it is questionable, 
however, should he continue to fight, 
how much money be could command 

It also is unlikely that he could get a 
fight against a champion such as 
Evander Holyfield or Lennox Lewis. 

"I’ve got to look at the tape, " the 25- 
year-old Briggs said. "1 think I had a lot 
of clean shots. I th ink I hurt him a couple 
of times." 

Almost all of the members of the 
working press thought Foreman won. 
The Associated Press card favored him, 
1 16-1 12. On two of the scorecards that 
counted however. Lany Layton scored 
it 117-113 and Calvin Claxton saw it 
116-112 for Briggs. Steve Weisfeld 
scored the bout even at 1 14-1 14. 

■ 'They said Shannon Briggs won that 
fight," Foreman said "Good luck to 

Foreman added "If I had to do it 
again, I probably would have thrown 
more punches. He’s a good kid, he just 
lost his mother." Briggs’s mother died 
last Dec. 4 on his 25th birthday. 

“This fight is gone. You’ve got to 
start thinking about tomorrow. You've 



Onnnj I j«in lwnjtrJIW 

Shannon Briggs, left delivering a punch to George Foreman’s head. 

just got to move on," Foreman said “I was very nervous — this was my 
"I’m happy. I'm not hurt I’m almost 50 first big fight" Briggs said “This was 
years old. That young man sucked it up the biggest fight of my life." 
and stayed in there with me." It was just that a lot of people who 

Briggs moved and boxed well in the watched it didn’t think that he won. 
first two rounds and again in the sixth Briggs of Brooklyn, New York, who 
and seventh. But Foreman appeared to earned $400,000, now is 30-1 with 24 
turn the fight in the eighth, when he knockouts. 

landed several hard jabs and head shots In his two careers, separated by 10 

that rocked Briggs. years of retirement. Foreman is 76-5 

Foreman, who weighed 260 pounds with 68 knockouts. 

■ Lewis Waiting for Holyfield 

minute of the ninth and had him holding Lewis wants a fight with Holyfield 
on from a big right to the head late in the soon or he will consider other oppo- 
round. cents. 

Foreman, who earned $5 million. “If we don’t get anywhere, Lennox 
seemed to have an edge in the 10th and has told us to explore other options," 
1 ltfa rounds, and came steaming out in Dino Duva, president of Main Events, 
the final round to land several good which- promotes fights of the World 
shots to the head as an announced crowd Boxing Council heavyweight champi- 
of 5,200 shouted "George, George." on, said Saturday. 

Foreman landed several mote good “Mr. King has canceled three meet- 
shots to die bead that backed Briggs up, mgs this week," Duva added, 
and the fight ended with the two men Holyfield, the WBA-IBF champion, is 

exchanging blows. Claxton gave Briggs promoted by Don King. Asked what his 
three of the last four rounds, while Layton options are, Lewis said maybe he would 
scored the ninth and 10th for Briggs and lie to fight Briggs or Buster Douglas, 
called the last two rounds even. Right now, however, Lewis'vS- Holy- 

If Foreman sticks to his plan to retire, field would be boxing’s biggest match, 
he leaves as a boxing folk hero. He was ‘ ‘Heavyweight boxing right now has 
the undisputed champion in 1973 and a problem," Lewis said of the dearth of 
1 974, and was the IBF-WBA champion interesting fights. ‘ T think this fight can 
in 1994-95. fix that.” 

Panthers Stop Devils’ Streak at 8 

The AssuciumJ Press 

Ed Jovanovski, a defenseman, scored 
his second goal of the game with 51.9 
seconds left in overtime, and the Florida - 
Panthers ended the New Jersey Devils’ 
team-record eight-game winning streak 
with a 2-1 victory. 

John Vanbiesbrouck had 28 saves, 
including a close-in shot by Patrik Elias 
early in overtime Saturday, in handing 
New Jersey its first loss since Nov. 4. 

The common factor in both losses 
was Mike Dunham, the Devils’ backup 
goal tender, who started the two games 
in place of Martin Brodeur. Brodeur has 
won his last 12 starts. 

Sabres 6, Island** 1 1n Buffalo, Jason 
Dawe and Donald Audette scored two 

ik Hasek earned his first home victory in 
a month as the Sabres beat New York. 
Dawe scored his team-leading 12th and 
13th goals in the first two periods. 
Hasek, the league’s most valuable play- 
er last year, has struggled at home with 
fans still angry about remarks he made 
about Buffalo's former coach, Ted No- 
lan. Hasek made 28 saves, including 
several key stops in the second period. 

stars 2 , Bnns o Goals by Jamie Lan- 
genbninner on a power play with 12 
seconds left in the second period and Pat 
Veibeek in the third gaveDallas a victory 
in Boston as the bred Bruins suffered 
their second shutout, in three days. Ed 
Belfbur stopped 22 shots for his fifth. 

shutout of die season. The game ended a 
grueling stretch of seven games in U 
days for the Bruins. 

Pantfuin* 4, Hangars 3 In Pittsburgh, 
Jaromir Jagr returned to the Penguins’ 
lineup after missing four games and 

NHL Rovnbup 

scored a fluke goal 25 seconds into 
overtime to give Pittsburgh a victory 
over New York. The Rangers lostforthe 
first time in overtime after tying seven 
other games. 

shark* 5, Capitals 2 San Jose scored 
on three of its first six shots and Kelly 
Hrudey had 32 saves as the Sharks won 
their third straight, beating Washington 
in Landover, Maryland. Chris Simon 
had a goal and an assist for the Capitals, 
whose four-game unbeaten streak (3-0- 
1) came to an end. 

Lightning 4, Harms 3 Rob Zamnner 

scored two goals; including the game- 
winner, as host Tampa Bay beat Cal- 
gary. The Lightning (4-16-2) won its ' 
second straight after a 16-game winless 
streak (0-15-1) as Daren Puppa stopped 
20 Flames shots. Mikael Nylander 
scored twice for Calgary (4-15-5). 

oa«re i, Swwtoreo Rookie Mike Watt 
scored his first National Hockey League 
goal late in the final period to give Curtis 
Joseph and visiting Edmonton a victory 
over Ottawa. Wan took Jason Amott’s 
pass from the corner and beat D amian 

Rhodes with 4:52 left,. extending the - 
Senators’ winless streak to eight games. 
Joseph stopped 26 shots for his 13th ; 
career shutout. Rhodes made 1 8 saves. 

'Bad , Wing* 5, Canadians 2 In . . 

Montreal, Tomas Holxnstrom scored • 

twice in die second period and added an 

assist to lift Detroit over Montreal. Bob ■ 
Rouse had a goal and an assist, and 
Aaron Ward aijd Anders Eriksson also ( 
sawed for Detroit ! 

Mighty Ducks 2, Hues O In St Louis, . 

Guy Hebert stopped 23 shots and rook- j 
ies Jeremy Stevenson and Jeff Nielsen - s 
scored their first NHL goals to lead ■ 
Anaheim over St Louis. The victory | 
snapped a six-game wioJess streak for . 
the Docks j 

Maefchawks 5 , Canucks 4 Greg John- . 

son scored at 1:22 of overtime as Chica- j 

go overcame a two-goal deficit in the , 
third period to beat the Canucks In Van- < 
couver. Chicago’s Sergei Krivokrasov ^ * 
scored with 69 seconds left in regulation W 
play to force overtime, and Johnson ~ 
sparked the third-period comeback by ■ * 
scoring on a power play. ■* 

Coyam g, -apim L—f»o In Phoenix, * 
Shane. Doan scored, a second-period .? 
goal and Nikolai Khabibulin made it ■ J 
stand up with his second shutout this '+ 
season against Toronto. Jeremy Roen- * 
ick added a goal, putting it into an empty . 
net with 22 seconds to play. Khabibulin ; 
stopped 28 shots to record his 11th _ 
career shutout. * 

Springboks Tutor French on Rugby 

GramAd fry Gur StttfFran Dtfnachn 

South Africa handed France its 
warst-ever loss at home in an inter- 
national test, 52- 10, in the final major 
rugby match to be played at the Parc 
des Princes in Paris. 

Next year, the French national team 
begins play in the new Stade de France 
in Saint Denis, which will be the main 
stadium for the World Cup soccer fi- 
nals next summer. 

Less than two minutes into the 
match Satmday, South Africa’s Andre 
Sny man found a hnge hole in the 
“French defense and scampered over 
from 10 meters (11 yards) without 
being touched. Henry Homball added 
the conversion. 

Just before the 10th minute, 

France's Christophe Lamaison conver- 
ted a penalty to close the gap to 7-3. 

Later, Johan Erasmus intercepted 
the ball and went nearly 50 meters 
alone before passing to Peter Rous- 
souw, who brought the ball between 
the goalposts for the second try — and 
his first of four on the afternoon. Hon- 
iball increased it to 14-3. 

Nnt TnaHwid 25 , England B New 

Zealand beat En gland in Manchester, 
but the spirited performance of the 
young home team made the All Blacks 
look merely mortal. 

Die visiting team, hailed as one of 
the greatest in the history of Rugby 
Union, scored three tries to one and 
snuffed out England’s increasing at- 
tacks in the second half. 

But England’s players, who were 
inspired by the crowd at Old Trafford, 
took pride in their performance and 
made an impromptu lap of honor at the 
end of the game. ( AP 1 Reuters) 

■ Johnson Suspended for Punch 

* England’s rugby authorities acted 
swiftly Sunday to suspend lock for- 
ward Martin Johnson for punching 
New Zealand's captain, Justin Mar- 
shall, during Saturday's match, Reu- 
ters reported from Loudon. 

The incident was described by the 
New Zealand coach, John Hart, as “a 
wanton act of thuggery." 

The ban will keep Johnson out of the 
game next Saturday against the 
Springboks at Twick enham. 















New York 










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Phtodetpiha 3 7 














































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San Antonia 























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Denver 0 11 




LA. Lakers 

























Golden State 





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NewYart 27 33 II 26-184 

Warrington 25 14 25 14— 12 

NX: Johnson 9- IS 5-7 31 Slate 8-17 M 
17; W: Webber 5-17 3-4 IS Strickland 6-15 
3-4 14. nfemmds— New York 54 (Ewtng 10). 
Washington 51 (Howard 8). AssM»- 
Ncw York 26 (Word 7). Wostocgton 18 
CStnekkuid 7). 

Miami 32 24 27 19— 102 

□Motto 28 14 25 40-119 

M: Hardaway 9-18 3-3 23. Mashbum 7-17 
3-5 IB C Rice 10-165626. Dhoc 8-1 56-722. 
Rebounds— Micne 44 (Austin, Striddand 7}, 
Charlotte 51 (Mason 1 1). Aesfats-Mtamlia 
{Hardaway IQ, Chartetto 34 (Pbris 9). 

Now Jonty 21 24 U 31—93 

Boston 18 37 24 28-181 

NJj Catena 7-16 B-12 7Z Gin 6-13 1-4 14, 
Cnssefl 2-8 10-13 14 Be Walker 9-15 4-4 74. 
Edney 3-5 6-7 12. Minor 2-8 8-9 12. 
F tt booa d r- -N o w Jcner 49 (Catena 81. 
Boston 54 (Walter 121- Awrisfs— New Jersey 
20 (GB 91. Boston 19 (Walter 5]. 

Ctovetad 27 24 28 22—183 

Minnesota . 21 22 13 24- 80 

C Person 8-15 4-4 22. Henderson B-10 3-5 
19. Kemp 8-11 3-4 19; M: Can 9-14 0-0 1% 
Cornett 8-152-4 IB. Ho hSUafe O tltlBd4t 
(Kemp I Knight 81. Minnesota 55 (GugSolta 
81. Aesbts— Clevelond 25 (Krrtgri 13). 
Minnesota 24 (Guglratta 4). 

Son Antooh 14 21 14 23-74 

Soothe 34 24 IB 16- 9« 

SJL: WlOams 5-B 3-3 1 X Alexander 4-10 0- 

1 IQ; 5: Baker 8- 1 2 6-6 22. Hawtdns 8-15 1 -1 

IB. Rsboands— San Antonia 61 (Perdue 15). 
Seattle 54 (Payton 8). Assists— San Antonia 
14 (Johnson 51. Seattle 26 (Payton 141. 
Denver 33 26 25 12-96 

Vancouver 28 20 29 23- 99 

Dr5IHh6-MM 22. Newman 10-17 1-322; 
V: Abdar-Rahlm 8-18 12-1321 Thorpe 4-75- 
9 17. Reboun d s Denver 60 (Garrett 
Jackson 131, Vancouver 54 (Lynch 11). 
Assists— Oenvor 18 (Jactean 9L Vancouver 
28 (Mayberry 9). 

Chicago 14 27 29 22 18 9-111 

LA. dipper* 27 15 28 22 10 0-102 

e Jordan 18-38 1Z1949. Langley 10-182-3 
22; LA: Murray 8-16 B-12 24 Barry 4-11 8-9 
17. Rebo u nds— GMcoqo 76 (Langley 17], Las 
Angeles 60 (Taylor 10). Assists— Chicago 22 
(KakocA), Las Angelas 14 (Richardson 7). 

fainuri uni its 

Orlando 30 32 25 21-188 

PbUaMptlta 25 16 20 33- 94 

O: Strong 9-1 B 3-4 21, Grant 10-13 0-0 2ft P: 
Stockhouse 7-15 1-2 14 Iverson 7-21 0-1 14. 
Rebounds— Orlando 56 (Strong 13), 

Pritadelphki 43 fWeataspoan 9). 
Assists— Ortanda 30 (Price 8), PhitadetpNo 
28 (Iwtsoa 12). 

CbaiMte 30 27 18 28- 95 

Indiana 18 27 28 29- 94 

C Rice 7-20 811 22. Dhrac 7-11 4-7 1ft I: 
Mllcr 89 1813 21 Srnits 9-19 1-4 19. 
Rebou n d s O laillltte 45 (Dhoc 9), Indiana 
42 (O.DavIs 11). Assists— Cluntatte 20 
(Mason 6), Indiana 15 (Jactean 7). 

Toronto 29 22 22 31—104 

MAM 26 20 24 38—108 

T: Wa Race 18208-928, Stood amke 9-192- 

2 21; M: Austin 12-29 9-9 31 Mqerie 56 1-2 

14 Rebounds— 1 Toronto 57 (Tabak 91. Miami 

65 (Austin 22). AssMs-Torunto 19 
(Stoudomire 11). Miami 24 (Hardaway 13). 
WraMngtoa 24 38 IS 33-101 

dontand 32 25 23 30-110 

W: Striddand 1 1-205 1027. Howretf 1 1-222- 
2 2ft Murray B- 13 2-2 JftC Perron 9- IS 8-9 31. 
Kemp 11-17 83 24 Remands— Washington 
50 (Dover 91. Cinetand 36 (Kemp 10). 
Assists— WasUngton 29 (Strickland 171 
Cleveland 31 (Knight 20). 

Atlanta 25 12 21 27- 85 

Detroit 26 18 14 29-87 

A; Laettner 7-16 1 1-11 2S. Mutambo 7-12 8 
7 19) D: B.WH Earns 9- 15 56 21 HU 9-16 1-4 
19. Rebounds— Afianta 43 (M mamba 12), 
Detroit 37 (B.WBItotns 81. AssMs-Aflontd 

15 (Laettncr, Blaylock 4). Detroit 20OUI 9). 

Portland 19 15 30 23- 87 

New Jersey 23 22 22 96- 92 

P: Anderson 9-21 83 3ft Saborte 7-17 4-5 
1ft NJj Gaffing 822 512 21 OB 8 13 88 19. 
Re bounds P ortland SB (Sabanls 13). New 
Jersey S’ U.watiams IT). Assists— Pcrttond 
19 (Andecan 5). New Jenev 20 ICassdm). 
Mlhraake* M 22 17 34— 82 

Dallai 13 19 15 15— 42 

M: Brandon 7-1346 lft Aten 8- 13 1-1 17; 
D: FMcy 5-12 82 12. BraiSey 5-19 1-2 11. 
Rebounds— Milwaukee 65 (HJ0 12). Dotes 
45 (Bradtei 141. Assists-/* rtwutee 19 
(Brandon 71. Dates 13 (Otte 3). 
seatdo 27 17 22 18- 84 

Demos 26 21 20 13— 80 

S; Pnvton 7-19 56 2a Sdomnpf 4-94-5 12; 
□: Wash ngkm 9- 19 1 2 22. Garrett 68 81 12. 
RMmmds— Seattle 49 (Baker 8). Denver 55 

(Garrett 171. Assfafo-Sedfle 22 (Paynra 5 
Hornlike 51. Denver 19 (EHo 6 Jackson 6]. 
Sun Antonio 12 23 32 34— 74 

Utah 32 34 24 21—103 

SAj Robinson 815 66 22. Alexander 58 2- 
211 U: Malone 812 6-8 2ft Hanraook 810 
56 19. Roboundo— San Antonio 39 (RoMnsan 
it). Utah SO (Molone 11). AhM»- 
San Antonio 15 (Johnson 71 Ukdi 25 

Golden State 25 15 18 24—84 

Houston 25 18 19 28— 90 

G-S-Sprewdl 1822 811 Ml Cotes 7-16 80 
15; H: Write 9-204-5 22, Drwtor7-16 36 17. 
Rebounds— Golden State 42 (Damptea 
Marshal 10), Houston 6T (WHs >9). 


HHL Stampihqs 
umm comma 


W L T PV 6F 6A 
Neir Jersey 16 6 0 32 68 38 

Philadelphia 13 8 3 29 69 57 

Washington 12 8 3 27 68 61 

N.Y. Rangers 8 9 7 23 64 64 

N.Y. Wanders 9 10 4 22 61 63 

Tampa Bay 

A 16 2 10 44 78 


Assists— Golden Stole 17 (Sprewell 6), 
Houston 19 (Price 51. 


























Leading Colleg e Scores 





















I 58 


Cntambta 7ft Holy Cross 64 

wwflui comunio 

Falrtolgh DkJdnson 7ft Hartford 66 


Mlddietwiy Bft RPt 75 







Perm 7ft race 73 








Princeton 64. Rutgen 52 

St. Louis 







Rider 77, Dataware 55 








5L Jotars BZ SL Francis, NY 73 








Syracuse 8ZUNC -Greensboro 53 








Towson 51. American U.48 








West Vbglnta 1 14 Alabama A&M 85 
















Georgia 1 lft Charleston Souflwm 59 

Los Angeles 







Grambflng SL 9Z WBey 85 

Ana brim 







JccksomrOe St. 9& Atohmwi St 92 

San Jose 







Maine 7ft liberty 73 








Maryland HQ, Mount St. Marys. Md. 74 








Misebsipirt 87, Temete 74 








North Canrifna 71, Califomta 47 


CH Dominion 7Z Hampton U.60 

N.Y. Rangers 




Vagbita 6ft George Mason 45 




Alabama 64. Minnmafa 63 
Bal St. 58. Butler 46 
ISnais St 87, POtsburgb 65 
Indiana St 92, E.nunoii 81 . 
IndtanapoflsIQ, St. Fronds, ttL 77 
Kansas 5L 89. Long Beach St. 50 
Loyola. IB. BA Chicago St. 80 
Miami, Ohia 91 Dayton 86. 20T 
Nebraska 81. NewOrieansU 
North Dakota Bft Maty 63 
Northwestern, Iowa 9ft Slain Fata 81 OT 
Ohio St. 67, Robert Monts 49 
Sieno 86. Northwestern 84 
Totoda9& Kentucky St 54 


Odahama 81, SW Tews St £8 
Oklahoma St. 86 Creighton 70 
Oral Roberto 85. Belmont 69 
Southern Metti. 89, Taws Tech 82 
Texas 1 16 No rfli Texas 94 
Texas A8JW 86. Stephen F Austin 73 
Tens Christen ISA LangtstondU.9S 


Air Force 124, Dome 57 
Cal St-Foterton 81 Nortoft St. 57 
Colorado 74 NW Louisiana 53 
Fnsno 5t. 82. Massadnneth 64 
Nevada 9S. Weber St 83 
Pacific 64 Sacramento St 34 
UC Sarin Bertram SB. Westmont 74 
UWi 64 5. Utah 48 
Utah St lit. a Oregon 61 

Hrsl Petted: None. Second Period: N.Y.- 
Kovolev 3 (Gretzky) (pp). Z C-Rlce 1 
(Westey) 1 N.Y.-GretzKy 7 (Ftotoy) Third 
Period: N.Y.-L0 Fontaine 12 (Kopovtsev). 5. 
C-Knn5 (Sondereon) 4 C-Rlce 2 (Xoponen, 
Pritmaa) 7, N.Y.-Korotov 4 (Sundshuni. 
Gretzky) Shots oa goal: N.Y.- 9-116—28. C- 
186-13-31. Goafies: N.Y.-RkhtW. C-Burte. 
Dates 10 2-2 

DotraU 4 0 8—4 

Hret PerMb D-Lidstrem 10 (Brawn. Kodov) 
(pp). Z D-Yrormar 8 (McCarty. Hobnstram) 
Z D-GBchrtst 5 (Lapotnto, FeOsav) 4 D- 
D roper 5 (MoHby) Second Period: Nona. 
TWrt Period: D-Hogoe4 (NleawendyW 4 D- 
Nlevwendyk 14 (Langentmjmir, Modana) 
(pp). Shots on goat: D- 4-7-13-24. D- 7-7- 
8 — 22. . Goafies: D-BeUour, Fernandez. 
BeStoar. D-Osgaad. 

Toronto 1 0 0-1 

Co lorado 1 1 1—3 

Fkst Period: T-Modn 2 (SuBvan DJOng) Z 
C-Forsherg 6 (Kamensky. LertownO Second 
Period: C-LenUeuc 8 (Focstxig. Lefcbwa) 
ThMPerlodsC-Salik 12 (Forsbei* LemieuiO 
(on). Shots an goal: T- 13-126-31 C- 9-4- 
11—34. GoaOet: T-Heoly. C-B«togton. 

Florida 0 18 1—2 

New Jersey 0 18O-1 

First Ported: None. Second Period: F- 
Jovanovski 1 (Wefts) (sh). Z NJ.-HNfc 11 
(Gteiouc AndraychuU (pp). ThW Period: 
None. O wrtkw. 1 F-Jovanovs M 3 
(Washburn) Shots ea goat: F- 9- 136-4— 32. 

~ Memorable Moments from Joluuiie Walker: K\ I)EI(( 1 1 * u-ith Hmuml <;<iihirhcr 


NJ.- 1M1-6-1-29. GedDoS; F- 
VbnUesbreuck. NJ^Uunham. 

N.Y. binders I 1 8—1 

Buffalo 1 1 «-6 

First Period: B-Dawe 12 (Pecn. Zldtnk) 
(pp). Second Period: NX-Refcte! 9 
(McCabe. Nomch i nov) ZB- Dawe 13 (Sotan) 
Third Period: B-Audotto 3 (WooOey.Zhlhilld 
(pp). & B-Peaa 3 (Buntdfle) Csh). 4 B- 
Auriette 4 (Woofer) (PP)- 7, B-Bsrrtdge 2 
CZWtnR, Rasmussen) Starts on geab N.Yj- 
11-9-9—29. B- 14-106—33. Gmrttosc N.y.- 
Sato. B-Hasek.' 

Dote 0 1 1—2 

Boston 8 0 0-0 

Fhst Period: None. Second Period: D- 
Langenbrunner 9 (Hafcber. Zubov) (pp). 
Third Period: D- Veibeek 8 (Langanbrurmei) 
Shots an gab: D- 12-6-7-25. B- 9-106-2Z 
Cotes: D-Betfour. B- Dafoe. 

N-Y. Rangers 1 8 2 8-2 

PBtshwgh ■ 3 8 8-4 

First Period: N.Y.-LoFontafaie 13 (Lootctv 
Sweeney) (pp). Second Period: P-Werenka 1 
(Brawn Stnria) (pp).ZP-Hkks2(CFerram 
P.Fetram) 4 P-Baraes 5 (WBItesord Third 
Period: N.YrGraws 5 (Latantahn Kovalev) 
(pp). 4 N.Y. -Sweeney 4 (LofoirMna 
Karpavtsev) Overfime: 7, P-Jagr&. Shots m 
SOM: N-Y^- 4-7-10-0—21. P- 50-10-1-25. 
Gotes: N.Y.-Rtcbter. P-Borrnsso. 

San Jose 3 O 2—6 

Washington 10 1-2 

Hrsl Period: SJ.-Craven 3 (Nolan) Z SJ.-, 
Rtod 1 (Houtdeo Natan) (pp). Z W-Sbnan 4 
(Oates. Bondia) .(pp). 4 SJ^Frtoson 10 
CStarm Rotate) Seeeod Period: None. TWrrl 
Perieta SJ.-Korotynk 2 (Sturm) 4 W- 
Johansson 8 (Bondra. Shnoa) 7. SJ.-, 
Matteau 1 (Bod gw, Rlcd) Shots an g«rt:SJ.< 
8-6-9—23. W- 146-12-34. Gotes: SJ.- 
Hrvdey. W-KoWg. 

Calgary 0 1 2-3 

Tampa Bay 1 3 0-4 

First Parted: T-Seftvonov 6 (Renberg, 
HonA) (pp). 5oooad Pmtuk T-Dykiwh 7 
(Pminn). Z C- Nytander3 (Monts. Kobn) 4T- 
Zamunor 7 (Hmrafik) 5, T-Zamutwr 8 
(Yooboert Ren berg) Third Period: C-Dawd 3 
(Huhti 7, C-Ny lander 4 CTttovi Floury) Shots 
on goal: C- 5-106-23. T- 866-21. Goafies: 
C -Tabooed- T-Puppo. 

Ednoontan • • 1—1 

Ottawa 0 0 8-0 

FM Period: None. Seeaad Period: None. 
ThW Period: E-Waltl [Amott McAmmondl 
Starts oa goat: E- 7-7-5-19. 0- 86-10-26. 
Goafesc E-Joeeph. O-Rhodes. 

Detroit I 3 1-5 

Montreal 1 I 8-2 

First Period: M6awge 5 (Brfeebofe. 
Rudnsky) (pp). Z D-Vtad 2 CStumabcra 
Rouse) Second Period: D-Eifkssan 2 
(Shoxedem, Kozlov) 4 D-Hotmstiom 1 
(Draper) 5. M-Kahra 6 (Reoehl MoncnJ 4 
D-Hahmtnun 2 (Yumxnv McCarty) TMrd 
Period: D-Rause l (Hoknstronv Yterman) 
Starts oa goak D- S-10-7— 2S. M- 9-9-10-28. 
Gaoflosc D-Osgood. M-Thtoault Moog. 
Auahotat 0 1 i—l 

SL Louis 0 8 8-8 

Rrst Period: None. Second Period: A- 
S terenson L TMrd Period: A-Nietaon 1' 
(50000, Korpd) Shots an goal: A- 66-10—21. 
SJ_- 86-7—23. Gotes: ArHebert SJ-rFuhr. 
Toronto ■ a 8-4 

Ptaaerrtx 8 1 1-2 

First Ported: None. Seeeod Preted: P-Doan 3 
(Mora. Sidney) TMrd Ported: P-Roreick 8 
(DtducM (en). Shots on goat: T- 1566-28. 
P- 11-11-13-35. Geefias: T-Patvto P- 

Chtoage 112 1-6 

Voj ocoevre 2 0 2 0—4 

Hut Porte* C-BtoekA bh). Z V-, Nariund 4 
(Geftns. HcdkorO Csh). X V-Bure 9 
3 (Amonta Frrtsnert ThW Period: V-Bahonos 
2 (Noonan Brashes) 4 V-Bue 10 (Ohtond 
Hedlcan) 7. C-Jahnson S (Suite Zhamnou) 
(pp). & CKriwhrasov 7 (Amoote Johnson) 
Overtime: C- Johnson 6 (DaUraky, Antonie) 
Shots on pari: C-l 0-12-10-1-31 V- 10-3-fr- 
O— 19. Geafec C-HccketL V-McLeaa 


LjEAPmc College Scopes 


Boston Cofleoe 24, Amy 20 
Dartmouth 1Z Pifncotan9rOT 
HorVniti 17, Ydte 7 
HaUra44 Maine 32 
Lehigh 4& Lafayette 31 

New Hampshire 21, Comecftart 18 
Penn 3X Corned 20 
Persist 35. Wisconsin ID 
PIIMHtvgli 3ft Vtegtnla Tech 23 
VStanovd 4ft NorilKnttetn 35 

Auburn lft Alabama 17 
dernm47. South Canribia 2l 
Florida 32, Florida SL 29 
N. CaraBno St. 37. EostCaroflna 24 
North Caraana Sft Duke 14 
Southern Miss. 4Z MumpMs 18 
Tennessee 59. Kentucky 31 

Kansas St 2& town St 3 
Mldrtgvt SL 27. HBno'w 17 
Notre Dame 21. West Virginia 14 
Purdue 54 Imfiana 7 


Arkansas 1 7. Mississippi St 7 
.Oklahoma 31 Texas Tech 21 - 
Oktahomn St 24. Baylor 14 
Rioo 31, Texas-0 Paso 13 
Tiltons 44, Houston TO 

Boise St. 3A Idaho 23, OT 
Catondo SL 3& San Diego SL 17 
Fresno St 24 Wyombig 7 
Montana 27, Montana St. 25 
New Mexico 51. Tuba 13 
(began 4ft Oregon St 30 
San Jose SL 5& UNLV4A OT 
Stanford 21. Cafftornfa 20 
UCLA 31, Southern Col 24 
Utah 2& Brigham Young 14 


nwTianr, im day 
5rt Lanka 369 and 251 6 
tndto 515-9 declared. 


VlounzalSiSampdoria 14: Florenflna 1Z AC 
Milan 1Z Atakmtq lft Empirtl 111; Bresda lft 


Michael Lang 


. England [4211 

Paul Bnwdhurai 


Mart James 


South Africa (421) 

Ernie Eh 




Writs (434) 

Primp Price 


km Wocsnarn 



rr 1 1 itti, 1 . 1 


Aurtnda 37, 5cofiand & 


Sooth Africa 5Z France TO. .'. 


Now Zealand 25. England ft 



AnA/oquufiHi zuus nunroiv 

Awtrafe 1, Iran l 

lawa 31. Mhm»Mo 0 

Babgna Z Ftonmttno2 
Breach ft U*uae4 
Eotpofl 1, Atatonta BagmnoO 
Lecce Z~NapafiQ 
AS Roma Z Vicenza 2 
Inter Milan Z AC Mltan 2 

■TAWBlMCti Inter Milan 23 potato; Ju- 
ventuo 21: Parma 18; AS Rama 16; Lada IS; 

New Zealand 21 7 end 174 

Australia won by an innings and 70 rum. 

Would Cw» Scores 

Lmfing final scores Saturday after the 
tfdnl round ol me Si JSeaHHoa WOrid Copal 
GoU, on the 48337red (ftlSOreatar}, par-72 
The Ooeen Count In Kteah Mand, Souft 

Germany (408) 

AtexondarChfka 636845-196 

Sven Straw 70-7567—212 

Ireland (410) 

PduiMcGlnlay 647068-204 

Padnrtg Harrington 714768-206 

Sartfcuid (412) 

Cte Montgomerie 686664-200 

Raymond Ru»eU 6472-74— Z1 2 

Sweden (415) 

Joakim Hoeggraan 6470-70—206 

Per-UMk Johansson 64-74-71—209 

Spate U16) 

Ignacio Ganfdo 674769-203 

Miguel Angel Merlin 68-7441—213 

United States (416) 

Doris Love III 6469-74-208 

Juste Leonard 7*4947— 298 

New Zealand (420) 

Grant Wade 70-7069-209 

Atatafic BHh» 1 Real Madrid 1 
AttaMcB Madrid 34ftrtoncSa1 
Oviedo 1, Barcelona 0 
stamp oioe- Reed Madrid 28; Barcelona 
2ft Afiefico Madrid 25; Ceita Vigo 24: 6s- 
torca 2ft AlhleSc Bfibaa 19f Merida 15t Raql 
Zigagaza T4l Real Bell) 1ft Deporttvo Corona 
1ft Compostela 1ft Ractag Saatamtor 12; 
Tenerife 1ft Valencia 1 1; VUtadafid 9: Sato- 
manca ft Sparling G^an 1. 

■Wien 9 I««I MVHtON 

Feyonoard ft UtrediM 
PSV Elndhavan 3. Twente Ensdiede a 
Ajax Amsterdam 1, Graafschap Due tt teem 

M W MmsMdit 1, RKC Waahrijk I 
NAC Breda Z Fortana Sfitaid 1 
Vfteeae Arnhem & Groningen 1 
Rodo JC Kerfcradea WBem IITBboig 1 
srAMMKre A)ax A natettam 4X Psv 
Bndhoven3& VResseAmhcm'34, Heeren- 
veeri2ftFeyenoord2ftwniem IITBbwgZL 
TWenta Ensdnde 2ft Rodo JC Keriuwte 1ft 
NEC M]megen 19. NAC Bmda 1ft Sparta 
Rotterdam lft Utrecht 17, Fortana Sltard 17, 
Graatadrap Daefindtem 17, Gratrtngen 1& 
MW McasMctil 14 RKC WPalwfiklZ Vdtan- 

e m uunaxiNYBioe 

Vfl. Wofeboig i Kbiseretaulom 1 
VI8 Stuttgart Z Kariorehe SC 0 
Sdmtae 04 Z TSV 1 860 Munkh 0 
Gatogne Z Aimfate BWefeW 5 
Hatha Berta Z Bayer lleueriatten 2 
Bayern Mwddi Z MSV Dakbaig 0 
VIL Bodtum ft Wader Bremen 1 
Hanbwg 5V 1, Banmsla Dariraund 3 
«TA i «> iM a eL Ku lienl a utM ii 34 Bovem 
Munich 3ft VtB Stuttgart 2ft Schafte 04 2& 
Baya Lewetkwen 26. MSV Dvtoburg 23, 
Hama RastoCk 21. Banresia Dortmund 21. 
Wonler Bremen 21, Vfl. Woristaug 2ft TSV 
I860 Munich 28. Hambwg SV 19, Hatha 
Berlin 19, Barash MoendtengknfiMtfi 1ft 
Arminte BietefeM 1ft Kartsrelw SC 17. 
Catogne lft Vfl Bochum lft 

FWDiai ftenr onnwMMM 
Bate IRC Lens 0 
Cannes 1 OtymplqM Lyon a 
Mete 2 Toulouse I 
Le Havre 0 En Avant Gutagamp 0 
Chotaawouxl Gtrondlns Bordeaux 0 
Rennes 3 Nantes D 
AJ Auxetre3 ManfpeMer 1 
Monaco 3 Parti St Gennain 0 
Strasbourg 2 Otympique Marsoffle 0 
mUODMOfc Mete 34 . MaiieHe 33. 
Monaco 3Z P5G 31, Bordeaux 3ft Lens 2ft 
Bate 2ft Auxem 2ft Lyon 2Z Mantpter 
2T,Toutauie2a Gutagamp lft Strasbourg lft 
Chatoauroux 1ft Nantes 17, Rennes lft Ls 
Havre lft Canties M. 

owuts t rai Nfi i 1 unin 

Aston VBo 2 Evatan 1 
BtocHwm Raven 1 Orehna 8 
Derby County 3 Coventry Cfly 1 
Letaste- CByO Bofian Wanderers 0 
Liverpool 0 Barnsley 1 
Newcastle United 2 Southampton 1 
Sheffield Wednesday 2 Amend 0 
Wimbledon 2 Manchester United 5 
■nuomaft Manchester United 31, 
Blackburn 3ft Arsenal 27, Ctwtaeo 2& Derby 
2ZLeicester2Z Leeds 2Z Liverpool 22. New- 
castle 21. Wimbledon 19, Aston VJfc lft 
Coventry 17, Crystal Potato lft West Ham 
IMfed lft Southampton. lft Sheffield 
Wednesday lft Tottenham lft Barton lft 
Boratay )X Ewton 1Z 


Critic 4 Dundee linBedO 
D u nfemitta e 1 Ab er deen 1 
Motherwell 1 Rangers 1 
St Johnstone l Hibernian Q 


World Cup 

Laodtag rasirtta Iran Seturdoyo riridm: 

1. Thonas Stongascteger, Aurirtft 1 mfenrte, 
3M1 seconds 1 KiMten Btemsscm (Ice- 
land) lavai; 3. Ftan Chrtten Jagge (Nor* 
way) ia9J4r 4. KWfl Andre Aamodt (Nor- 
way) L39xt 5. Michael Von Greanlgsn 
(Swttzariand) ld963t ft Hans4tattar Bunas 
(Norway) U39Jn,- 7.- Stogtried VoghaMr 
CAtarirta) lriftl 1; 7^5efaasfien AnAa 
(France) lriftll;9.Tom5fiamen (Norway) 
154020: lft Fafartato Tacrnl (Italy) 1:4030. ' 

100 potatar Z BtenrosoiL 80; Z Jagge, tOi 4, 
4ft 7.-Vag)r*a*6 3ft 7,-Aouoz. 3ft 9. 
Stiansen2ft 10.Teoaart.2ft 
svuuu snuteHrifie-1, Aaraodt, 239 
potato; ZMote&HftZVonGrwHrtgen. 17*4. 
Straw, Uft & Stongaisinger, 122; ft Lodhes 
I Oft 7, Voghritan 101; ft EhertiortK. 10 ft 9, 
•Gramfl, 9ft lft Mayor. 9ft 





Mary Ptorar O), Franca dot Nathalie 
Tauztot Franoft 64. 5-7, 6-4 Jana Novotna 
CD, Czadi RspubBc. dot. Irina Spitlea (8), 
Romania. 74 (7-5),44- 



anaheim— Acquired 3B PhB Novtn and C 
Matt Wat beck, ham Detroit tor RHP Nick 
Stone. Bought contracts at INF Justin 
Baughman. INF Nelson Castro. RHP Brian - 
COoper, OF Norm HukJi too and RHP Jrerod 

Baltimore— Agreed terms wflh INF Jeff 
Reboutataa 1 -year contract. 

nosroM— Bought contract* of INF Jfen 
Chamblee. RHP Rntod Betancourt and LHP 
Brian BaUey from Pawtucket IL and RHP 
Pefec Mu nro (ram Trenton EL 
Chicago white •aot-BougM contracts of 
RHP John Ambmaft RHP Lorenzo Borcokv 
RHP Derek Hwsetaofl, RHP Bab Howry. 
RHP Jason Otaea LHP Todd Rizzo, RHP 
John Snydeo C Morfc Johnson. 3B Cartas Lee 
and OF Brian Simmons. Designated RHP 
Jeff Danrin and INF Chad FdrmUe far as- 

ajnrGLAHD— Bought contract at INF Rus- ■ 
Branyan from Buffalo of AA. Bought cun- 
trad* of RHP Jason Rakers and OF Scott 
Morgan from Akron, EL 
Kansas— Agreed terms with 1B-OF Jell . 
Canine on 2-year contract 

hew York VANKEES-Baught contracts of 
OF Brian Bu charm, RHP Mike Buddtft ■ 
RHP DmreO Etaerston, RHP MBte Jerzem- ■ 
beck. 3B Mike Lowell and OF Oanzefi Mc- 
Donald from Norwfctu EL 
OAKLAND— Bought contracts of RHP Tam , 
Benaefl. RHP Jeff D'AmlCft OF Ryan Ctato- 
icrtsan. RHP BE King and C Ramon Her- 

TEXAS— Bought contracts of RHP Dan 
Koflv RHP Dan Sattti and INF Rob Sasser 
ft ora Oklahoma CBy, AA, and RHP Ryan ' 
Gtymt RHP Jonathan Johnson and RHP 
Brandon KrdgM from Tutaa. TL_ Agreed-, 
tains wlta RHP Bony Jahnam RHP Mart 
Srarilo ndlNFSarttSheMononmtaoiMBogue 

roBOorro-Sooght contracts of RHP Tom . 
Davey, RHP Gary Gtovor, LHP Stave SEndric 
28 MkhealPeeirteftSS Ryan Free! and INF' 
Kerin WUt (ram Knoxrinft 5L 

ATLANTA-Agraed .tarns with IB Andres! 
Galarraga on 3-year contract. 

Chicago cues— Bought contracts of'RHP 
Juste Spate*, RHP Jason Ryan aid RHP 
Jose Espinal and INF Jose Nieves. 

cm cm natt— B ought eo n h mto of- LHP ' 
Justin Aktitey, LHP Eddie Priest C Jason . 
LaRne and INF-OF Damn I ngram . 

Florida— T raded 1B-OF Jeff Corine to ' 
Korsoi far RHP Blaine MulL Bought con- 
tracts of 2B Amoary Garda SS Alex Gon- 
zalez, CF JuSo Rarirez. 0F>1B Ryan Jock- 
soti C-1B John Rorinc. 1 B Kevin MUtar aid 
RHP Brian Meadows Anra Charlotte, IL Put . 
C Bab Natal and INF-OF John Wehner an . 
imamWonri watren. 

Houston— B ought contracts of INF CmVn . 
Hernando INF DaryteWant C Ramon Cat- ■ 
tlft C MBch MriwfctVr LHP John Hctama. 
RHP Sartt Elarton, RHP Freddy Grado aid 
RHP Brian SUwsW. LOS ANgeles— 8augtrt 
eoatroctoofOF Kerin Gfbfas, INF MfteMey- ■ 
caHft INF Bilan RtCtnnJwa LHP Will Brun- 
son W1P IgnadD Flares and C Paul LoOuca - 
and CAngd Pena. 

mujmxukse— A cquired LHP MBre Mym, .. 
RHP RKk Greene and 55 Santiago Perez 
tram Detroit far RHP Bryce Flarie and 
ptoyertahe named. 

new you Jient-Baogtd aontnxta of OF 
Fletcher Bates. OF Sort Huatec OF Ter- ' 
ranee Lung C VanCe WHOM ditd RHP Arnold 

rnTHuat-Bought contracts of LHP ' 
Jimmy Anderson. RHP EMn Hernandez, 
LHP Sean Lawrence RHP Jason PMtfet 
andl B Ron Wright. 

slur BU»4-AcQuired LHP id VOsben 
from Florida for RHP Onto Oaric Bought 
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PAGE 19 



•s, ; 

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Duke's Eric Jones, left, intercepting a pass intended for Octavusr Barnes of North Carolina, which won, 50-14. 

Marino’s Misses Doom the Dolphins 

The Associated. Press 

The New England Patriots finally 
found a quarterback to win a big game 
for them — Dan Marino. 

Marino threw interceptions that 
Jimmy Hitchcock and Larry Whigham 
returned for touchdowns in the last two 
minutes of the first half Sunday, then 
Whigham got another interception at the 
goal line to stop a fourth-quarter 
comeback as the Patriots beat the Dol- 
phins, 27-24. 

New England (7-5) moved into a 
second-place tie with Miami in the AFC 
East, one game behind the New York 
Jets, who beat Minnesota. 

I The Patriots’ quarterback. Drew 
Bledsoe, had been criticized for not win- 
ning big games against strong teams. In 
four of their previous five games, the 
AFC champions’ playoff hopes faded as 
they lost to die Jets, Green Bay, Min- 
nesota and Tampa Bay. 

MarinoT the NFL’s career leader in 
roodhddVvn pisses, nearly pulled the 
game out for the visiting- Dolphins, 
guiding diem to three I -yard scoring 
runs in the second half by the league’s 
touchdown leader* Karim Abdul-Jab- 
bar. The third TD came with just 10 
seconds left, bringing Miami within 
three. The Dolphins .then recovered an 
onside kick for the second time in die 
game, but die game ended after two 
incompletions by Marino. 

After cutting the lead to 27-17, the 
Dolphins recovered their first onside 
kick with 1 1:5 1 left Marino led them to a 

first-and-gbal at the New England 1 be- 
fore Abdul-Jabber lost five yards on the 
next two rims. On the next play , Mhrino, 
Tinder pressure, lofted the ball toward 
Jenis McPhaiL but Whigham ootieaped 
him for die ball with 6:50 to go. 

Bledsoe was coming off one of the 
worst games of bis career, a 27-7 loss to 
the Buccaneers in which he threw fa- 
117 yards, and his streak of 11 games 

NFL Roundup 

with a touchdown pass was snapped. 
Playing at home 'Sunday for die first 
time in four games, the Patriots scored 
on three passes, but Bledsoe didn’t 
throw any of them. 

With the score 3-3, Dave Meggett 
connected with Troy Brown on an op- 
tion pass for a 35-yard touchdown with 
237 left in the half. 

Lions 32, Colu id Bany Sanders was 
at his best, which was more thhn enough 
to dazzle the fnrhanapnlis CottS. 

Sanders rushed for 216 yards, includ- 
ing touchdowns of 80 and four yards, as 
thcLinnx beahthe&isiting Colts. . 

Sanders tqppetHOO yards for the 10th 
straight game and became the first run- 
ning back in NFL history to score three 
touchdowns on nms of 80 or more yards 
in a season. Sanders, held to just 53 
yards in his first two games, now has 
1,427 yards with four games remain- 
ing. . 

Sanders, who carried 24 times, didn’t 
need any of his trademark moves on the 

eJStar Role for Rookie inCavs 9 Victory 

The - Associated Press 

A rookie, Brevin Knight, had an NBA 
season-high 20 assists as Wesley Person 
scored 31 points and Shawn Kemp ad- 
ded 24 to lead the Cleveland Cavaliers 
past the Washington Wizards, 1 10-101. 

Knight, with 1 3 points, finished five 
short of the National Basketball As- 
sociation's assist record for first-year 
players set by Ernie DiGregorio in 1974 

NBA Ropmpup 

. and matched by Nate McMillan in 1987. 

% Knight won a tremendous duel of point 
guards against Rod Strickland, who had 
27 points and 17 assists. 

The host Cavaliers overcame a late 
surge by tire Wizards on Saturday night 
to win their second straight after losing 
three in a row. „ 

Hut im, napMiM Isaac Austin 
recorded career highs of 33 points and 
22 rebounds as host Miami extended 
Toronto’s franchise-record losing 
streak to nine in a row. Dan Majerle, 
who came off the injured list befwe tire 
game, added 16 points and shot 5-of-6 
from 3-point territory. 

rsatera«7' Hawks as Brian Williams 
scored 10 of his 23 points in the fourth 
quarter to lead Detroit over visrtmg At- 
fanta. Hill had 19 points and nine assists, 
and Dumars scored 16. Christian 
laettner had 25 for Atlflfltfi* hdo 
D ikembe Mutumbo added 19points and 

L *** C T'?J Vlad ?d?iea 

i hit a free throw with 2.6 seconds left, 
and host Indiana turned the ball over on 
last possession. Indiana had over- 


r °« - ■ 

Gran* ad ?i^, am £defe3ied host Phil- 

KaMrickt 93 . Tenell 

play with 28 seconds to go, and Chris 
Galling made two big defensive plays 
down the stretch as the Nets defeated 
visiting Portland. 

Rockets BO, Warrior* 84 In Houston, 
Kevin Willis had 22 points and 19 re- 
bounds as the Rockets continued to dig 
out of their early-season slump. Willis 
shot 9-fbr-20, dropping his season av- 
erage to a still impressive 55-5 percent 

SupMSonfes 84, NUMots 80 Gary 
Payton and Detlef Schrempf combined 
to score 11 of Seattle’s last 13 points as 

the visiting SupedSonics rallied to de- 
feat winless Denver. Payton scored six 
points and Schrempf five over the final 
she minutes to help erase a 76-71 def- 

■ Jazz 103, Spur* 74 Karl Malone had 
20points. 11 rebounds and seven assists 
before being ejected, and Utah used a 
27-2 first-half run to coast past visiting 
San Antonio. 

Jeff Homacek added 19 points for 
Utah, Adam Keefe scored a season-high 
IS, and Howard Eisley added 13. 

Woodson Powers Michigan, 20-14 


By Malcolm Moran - 

• ~ New York Times Senice 

ANN ARBOR, Michigan — The 
roses were everywhere. 

They appeared in tire home team’s 
dressing room at Michigan Stadium. 
They were in the stands, where the largest 
crowd in stadium history gasped until the 
final moments. They symbolized the end 
of a painful period, a time that ended 
Saturday when the Wolverines look a 20- 
point lead and held on until the finish. 

But when No. 1 -ranked Michigan’s 
passionate 20-14 victory over No. 4 
Ohio State was complete, and its first 
top to the Rose Bowl in five years was 
guaranteed, ’Charles Woodson held the 
sweetest rose. Woodson's 78-yard 
touchdown on a punt return and his 
interception in the end zone allowed 
Michigan (11-0) to complete its first 
perfect regular season since 1971. John 
Cooper’s Buckeye teams have a record 
of 1-8-1 against the Wolverines. 

Ohio State (10-2) came within 6 
points with 13:08 to play. But the 
Michigan defense preserved the victory 
when defensive encf Glen Steele twice 
sacked Joe Germaine, the Ohio State 
quarterback, and racked up another 
tackle for a loss. 

Michigan's overpowering finish pro- 
tected tire lead that Woodson had cre- 
ated. Besides his punt return near the 
end of the first half, his 37-yard re- 
cepticmset up the first Michigan touch- 
down in tiie second quarter. Quarter- 
back' Brian Griese completed 14 of 25 
passes for 147 yards. 

Tire Wolverines will play Washing- 
ton State in the Rose BowL 

The Associated Press reported: 

Mo. 10 Florid* 32, No- 2 Florida Stats 

28 In Gainesville, quarterback Doug 
Johnson, who lost his starting job three 
weeks ago, threw a 63-yard pass to 
Jacquez Green to set up Fred Taylor’s 
fourth touchdown run of the game with 
1 :50 left giving the Gators a victory and 
apparently denying Florida State a shot 
at the national title. 

No. S Ibnnw ■ 59, Kentucky 31 

Peyton Manning strengthened his case 

school-record 523 yards and five IDs as 

~ CotllClFoQTIAlt 

Tennessee beat host Kentucky for the 
13th straight time. J amal Lewis scored 
four touchdowns for the Volunteers (9- 
1,6-1 SEC). 

No. 6 Potin St. 35, No. 24 Wisconsin 1 0 

Mike McQueary passed for 269 yards 
and three touchdowns as host Penn State 
(9-1, 6-1 Big Ten) remained in the run- 
ning for a major bowl bid. 

No. 7 UCLA 31 , So. CaJHomb* 24 Cade 

McNown passed for three touchdowns 
as UCLA beat Southern California for 
tire seventh consecutive year. 

No. 8 North Carolina 80, Duke 14 At 
Chapel Hill, Chris Keldorf threw four 
TO passes and Jonathan Linton rushed 
for 199 yards as North Carolina routed 

No. 9 Kansas St_ 28, Iowa St. 3 At 

Ames, Iowa, Michael Bishop ran for 
two touchdowns and passed for another 
as Kansas State remained m contention 
for a bowl alliance berth. The Wildcats 
(10-1, 7-1 Big 12) completed their first 
10- victory regular season since 1910. 

No. 11 Washington St.41, No. 17 Wash- 
ington as At Seattle, Washington State 
clinched its first Rose Bowl berth since 
1 931 behind the passing of Ryan Leaf, 
who threw for 358 yards and two touch- 
downs. Michael Black ran for 170 yards 
and Chris Jackson caught eight passes 
for 185 yards and two IDs for Wash- 
ington State (10-1, 7-1). 

No. 13 Auburn 18, Alabama 17 Jaret 
Holmes kicked a 39-yard field goal with 
15 seconds remaining to give host Au- 
burn (9-2, 6-2) the SEC West title. 

No. 14 Qeergia 21, Mis sissi p pi 14 

Robert Edwards rushed for 180 yards, 
scored once and set up Georgia’s other 
two touchdowns as the visiting Bull- 
dogs (8-2, 6-2) stayed in contention for 
the SEC title. 

Arkansas 17, No. 15 Mississippi St 7 

Clint Stoemer directed two touchdown 
drives that consumed almost 1416 
minutes as host Arkansas (4-6, 2-5 SEC) 
snapped a five-game losing streak by 
beating Mississippi State (7-3, 4-3). 

Pittsburgh 30, No. 19 Virginia Tfcch 23 

At Pittsburgh, Pete Gonzalez threw four 
TD passes as the Panthers (5-5, 3-3 Big 
East) upset Virginia Tech C7-3, 5-2). 

N(tt» tarn 21, Nol 22 Hut VtnpMa 

14 At South Bend, Ron Powlus con- 
nected with Bobby Brown on an 11- 
yard scoring pass late in the fourth 
quarter as Notre Dame overcame a 234- 
yard rushing performance by Amos 

No. 23 Purriuo 58, bxfiana 7 At Bloom- 
ington, Indiana, Ed Watson rushed for 
163 yards and two touchdowns as 
Purdue finished its regular season with a 
winning record for tire first time in l3 

long scoring rup, which came on tire 
first snap of tire second half. He broke 
through a big hole, cut right, then turned 
upfield and sprinted in untouched. His 
second ID run finished a 62-yard, nine- 
play drive midway through tire fourth 

It was the second straight victory for 
the Lions (6-6). who kept their slim 
riLayoffhopes alive. The lions won their 
final seven games in 1995 to slip into the 
playoffs with a 10-6 record. They lost 
nine of their final 10 last season. 

Falcon* 20, Swats 3 Chris Chandler 
threw two touchdown passes in the 
second half, including a 36-yarder to 
Bert Emanuel, and Atlanta shut down 
the New Orleans Saints for its second 
straight victory. 

While that may not sound like a sig- 
nificant achievement, it is fen: the Fal- 
cons (4-8). They had not won two 
straight games since tire fifth week of the 
1995 season, when Atlanta finished off a 
three-game winning streak on its way to 
the playoffs. A year ago, tire Falcons 
flopped to 3-13, and they had not been 
able to put together back-to-back vic- 
tories tins season either, until Sunday. 

After a sloppy first half in which 
Moitcn Andersen kicked two field goals 
against his former team to give Atlanta a 
6-3 lead, tile Falcons blew the game 
open. Todd Kincben had a 20-yard punt 
return to tire Saints 47, and tire Falcons 
capitalized three plays later when 
Chandler hooked up with Emanuel for 
the game’s first toudriown. 

Flawless Harvard Captures Ivy Title 

The Associated Press 

Harvard took the Ivy League title 
with its first undefeated league season 
ever after a 17-7 victory over Yale, 
which finish ed winless in the con- 

The Crimson's sophomore tailback, 
Chris Menick, set a single-season 
school rushing record, finishing with 
1,167 yards, m Saturday’s game, be 
had 167 yards on 22 carries and scored 
one touchdown. Menick’ s 14 touch- 
downs also set a single-season record 
for.Harvard (9-1, 7-0 Ivy). 

For Yale (1-9, 0-7), it was only tire 
second time in 41 years that the team 
had failed to win a conference game. 

As the final seconds of the game 
ticked away in New Haven, Connecti- 
cut, visiting Harvard fens mobbed the 
field. A crowd of 26.000 watched the 

jranw- in a bone-chilling drizzle. 

Yale had several drives, one of 
which led to its only score, an 18-yaid 
fourth-quarter touchdown pass from 
southpaw quarterback Joe Wall and 
(188 yards, 15 of 30 completions) to 
flanker Ken Marschner, who made a 
lunging catch in the end zone. 

Harvard’s , quarterback. Rich 
Linden, passed for 121 yards on 12 

Pm« 33, CarmH 20 In Philadelphia, 
Jim Finn rushed for 140 yards and two 
scores, and Joe Piela returned a punt 
and an interception for touchdowns as 
Penn beat Cornell. Piela returned a 
punt 74 yards for Penn’s (6-4, 5-2) first 
touchdown of thegame, and with Porn 
leading 20-13 with 10:31 left, he ad- 
ded an insurance score with a 25-yard 
interception return. 

Brown 42, CohanMa 11 Brown re- 
ceiver Sean Morey set three Ivy 
League receiving records in a three- 
touchdown performance in the final 
game of the season for both teams. 
Brown (6-4, 3-4) led 28-3 by halftime, 
rolling up 417 yards on offense. Morey 
was the game’s star, catching lOpasses 
for 152 yards. He set league marks for 
receiving yards in a career (2,809), 
receiving yards in a season (1.436) and 
career touchdown receptions (29). 

Columbia scored a field goal before 
Brown ran off 21 more unanswered 
points. The Bears sealed the win on the 
first drive of the second half when 
Morey out-jumped two Columbia de- 
fenders on an 18-yard touchdown 
pass. In Saturday’s other Ivy League 
game, Dartmouth defeated Princeton 
in overtime, 12-9. 

V T _ • c. .vj 

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The Final place at n 
as Australia play h 
secure a place at Fi 


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29 Nowombar, World Cup 
QuaBfyliig, Australia v Iran. 

After nearly two years the 
last name will be added to the 
Rne up for next yeartt World 
Cup Finals. 


25 November, LIVE, 

UEFA Cup, Croatia Zagreb 
v AUetlco Madrid. 

The plumb tie of the round pits 
Juhnlno and his Atietico Madrid 
team-mates up agartst Robert 
Prosineckfe Croatia Zbgreb who 
defeated MTK Budapest In the 
last round. 

29 - 30 November, LIVE, 

Most of the top names In FI wIB 
be present for the annual EH 
Masters including Michael and 
Ratf Schumacher, Viltenueve, 
Truli, Coulthard, Fisichella, 
Herbert and also Indy car 
Ch am pion. AfanZinardL 

psriladeJphia’s Jerry Stackhouse, right, catapulting himself to the bas- 
ketover Derek Strong’s shoolder in a game won by Orlando, 108-94, 

Alpine Skiing 

27-30 No w en ib e r, LIVE, 
The World Cup, Whistler 
Mountain, Ca nad a. 

The Men's World Cup Tour 
moves onto Canada with a 
DownhSandaSupe^G . 

PAGE 20 

• r 

; V 


World Roundup 

Swedish Match Wins 
Whitbread’s 2d Leg 

yachting The yacht Swedish 
Match moved into the harbor at 
Fremantle, Australia, late Sunday 
night to win the second leg of the 
Whitbread round-the-world yacht 

Gurra Krantz of Sweden and his 
New Zealander co- skipper, Erie 
Williams, led the field of nine 
yachts across the Southern Ocean 
since leaving Cape Town, South 
Africa, on Nov. 8. 

The Swedish. New Zealand and 
German crews contended with 
winds as slow as four knots in the 
final miles up the West Australian 

Swedish Match entered Fre- 
mantle's Victoria Quay five hours 
after its estimated time of arrival. 
Its nearest rival, the Norwegian 
yacht Innovation Kvaemer, was ex- 
pected to finish the 4,600 nautical 
mile leg on Monday. (AP) 

Kiwis Take Rowing Race 

rowing A two-man team from 
New Z ealand has won a cross-At- 
lantic rowing race that took just 
under six weeks, race organizers 
said Sunday. 

The Kiwi Challenge team made 
the 2,757 nautical mile journey in 
41 days, one hour and 55 minutes, 
organizers said, and arrived in Bar- 
bados early Saturday morning. 

“It was a great feeling coming to 
the finish and seeing so many 
people waiting out to greet us,” 
Phil Stubbs, 36, told The Advocate 
newspaper after arriving at the Port 
Saint Charles marina with his part- 
ner Rob Hamill, 33. 

A total of 32 teams using the 
same type of boat set off Oct. 12 
from the Canary Islands in the 
longest rowing race in history, or- 
ganizers said. 

The French Atlantik Challenge 
team was expected to come in 
second, with an estimated arrival 
date of Dec. 4. f AFP ) 

FEE! Head Plays Diplomat 

soccer The bead of world soc- 
cer's governing body, FIFA, said 
Sunday he would try to persuade 
North Korea to share the 2002 
World Cup finals co-host role with 
South Korea. 

Joao Havelange also said he 
would invire the political leaders of 
the two Koreas to the opening of 
next year’s World Cup finals in 
Paris as part of his efforts to help 
reconcile the rival countries 
through sports. 

South Korea, co-host of the 2002 
World Cup with Japan, hopes to 
share some of its games with its 
Communist rival as a peace ges- 

*T11 immediately write to sound 
out whether North Korea is willing 
to play host to some of the games,” 
Havelange said at a news confer- 
ence before leaving Seoul at the end 
of a five-day visit 

Havelange, speaking through an 
interpreter, also said he would visit 
North Korea early next year to per- 
suade Pyongyang leaders to act as a 
co-host with South Korea for some 
of the 2002 World Cup games. 

Noting that the two Koreas suc- 
ceeded “in forming a unified team 
for the 1991 world youth soccer 
championship, Havelange said that 
forming another all-Korea soccer 
team was not an impossibility/AP) 

Florida Beats Tar Heels 

basketball Murriel Page and 
Tiffany Travis each scored 14 
points and Florida took advantage 
of miserable shooting by North 
Carolina to beat the Tar Heels, 68- 
48, in the State Farm Tip-Off Clas- 
sic Sunday. 

The fifth-ranked Tar Heels never 
recovered after falling behind BO- 
12 in the first half. They shot 27 
percent for the game and made only 
one of 14 3-point field goal at- 
tempts in the second half. 

Talatha Bingham scored 1 1 
points for No. 9 Florida. (AP) 

Late Tallies Bolster 
Leeds to 3-1 Victory 

The Associated Press 

Three late strikes by Timmy Floyd 
Hasselbaink and Alf-Inge Haarland 
powered Leeds to a 3-1 victory over 
visiting West Ham on Sunday, lifting 
the club three places to fourth in the 
English Premier League. 

With his team down, 14. with 14 
minutes to go, Hasselbaink curled in a 
free-kick equalizer. Then Haarland cel- 

ebrated his 25th birthday by heading 
home a comer four minutes from the 
end. Hasselbaink made it 3-1 in the final 

It seemed a cruel turnaround for the 
Hammers, who had taken the lead in the 
65th minute and then looked capable of 
holding on to die advantage. 

Leeds’ England international goal- 
keeper, Nigel Martyn, had to make a 
reflex-action save in the first half, but it 
was from his own defender. The Nor- 
wegian World Cup player, Gunnar 
Halle, accidentally chested die ball to- 
ward his own goal from just five yards 
out, and Martyn had to dive to his right 
to save and prevent an own goal. 

But Martyn was beaten in the 65th 
minute when Jon Hartson, the Premier 
League’s leading scorer, headed the ball 
into space and Frank Lampard raced 
away from the Leeds defense to fire a 
low shot past the goalkeeper from just 
inside the penalty area. 

Italy Nicola Amoroso's glancing 
header with five minutes left lifted Ju- 
ventus of Turin into a 2-2 draw with AC 
Parma on Sunday, keeping the defend- 
ing Serie A champion in second place. 

Enrico Chiesa and Argentine Heman 
Crespo scored off first-half counterat- 

tacks a$ third-place Parma took a 2-1 
lead, rekindling its own title hopes. But 
with Amoroso and Daniel Fonseca on as 
extra attackers, Juvenilis found the dra- 
matic equalizer. 

Juventus waked an opportunity to 
move atop the standings for the first 
time this season. A victory would have 
put Juve ahead of Intemazionale of Mi- 
lan on goal differential. 

Instead. Inter — which drew 2-2 with 
AC Milan in their derby Saturday night 
— retains sole possession of first place 
with 23 points, followed by Juventus 
with 21 and Parma with 18. 

Elsewhere on Sunday, AS Roma 
stayed in fourth place with 16 points 
after holding on for a 2-2 draw with 
visiting Vicenza, despite playing the 
final 40 minutes with 10 men because 
die Brazilian center-back Aldair had 
been sent off. Udinese also has 16 points 
thanks to a 4-0 victory at Brescia. 

In other games, the Argentine striker 
Gabriel Batistuta's league-leading 10th 
goal salvaged a 2-2 draw for Fiorentina 
at Bologna; Lecce handed Napoli its 
club-record sixth straight loss. 2-0; 
Sampdoria beat Bari, 1-0, and Empoli 
edged Atalanta of Bergamo 1-0. 

Netherlands Feyenoord Rotter- 
dam summoned up an attacking spirit to 
down FC Utrecht, 3-1 . It was Leo Been- 
hakker’s first victory as the new coach 
for the club. 

Feyenoord (8-4-4) is now tied for 
fourth with SC Heerenveen with 28 
points. But as the season’s halfway 
point approaches, the 15-point gulf be- 
tween the clubs and the leader Ajax 
looks unbridgeable. 

Paul Bosvelt opened the scoring in a 
lively match after 18 minutes, and Jean- 
Paul van Gastel doubled die Feyenoord 

Zinedine Zidane of Juventus, left, and Nestor Sensini of Parma battling for the ball during the game in Turin. 

lead on the stroke of half time with a 
penalty. Richard Beekink ‘ brought 
Utrecht back into h at 2-1. 13 minutes 
from time. But a Mitchell van der Gaag 
own-goal in the penultimate minute 
sealed the game. 

Greece Andreas Lagonikakis scored 
two goals as Panathinaikos Athens 
trounced Proodeftiki, 5-0, at home to 
take the lead in the first division soccer 
league. Panathinaik os shares the prime 
position with Olympiakos Piraeus, with 
27 points each. AEK follows in second 

In a game marred by fail violence, 
Olympiakos beat lonikos Nikea, 1-0. 

Panathinaikos had no difficulty in 
beating Proodeftiki The Athens club 
dominated the game throughout, never 
allowing the visitors to- threaten goalie 
Antonis Nikopolidis. They took an early 
lead with Polish striker Krzysztof War- 
zycha's goal in the first minute. 

Two minutes before the end of the 
first period, Lagonikakis made it 2-0 off 
a center from S Erato s Apostolakis. 

Giorgos Georgiadis scored his team's 
3rd goal in file 48th, and the Norwegian 
midfielder Erik Mykland stretched it to 
4-0 in the 60th. Lagonikakis closed the 
scoring in the 71sL 
Ilja Ivic’s goal two minutes before the 

end of the game was all that (he de- 
fending champion Olympiakos Piraeus 
needed to edge past lonikos with a 1-0 
shutout Jfc. 

There were few scoring chances in 
the match as both teams’ tight pressing 
played a key factor. 1 

Olympiakos lost a major opportunity 
in the 16th when the lonikos' goalie, G 
Vangelis PourliotoDOulos, dived full- 
length to save a free kick by the Serbian k 
midfielder Predrag Djordjevic. 

On two occasions in the second peri- 
od, die visitors came close to scoring. ’ 
Bat in both cases, Alec os Alexandras 
shot wide. j 


Jana Novotna returning a shot to 
Mary Pierce during the final of the 
Chase Championships on Sunday. 

Novotna Wins Finale With Victory Over Pierce 


NEW YORK — With a blazing 
serve, the No. 2 seed Jana Novotna took 
a straight-set victory from Mary Pierce 
to claim the women's singles title at the 
season-ending Chase Championships 
on Sunday. 

' The Czech won an epic first set in a 
tiebreaker, then swept to victory over 
the seventh seed from France, 7-6, 6-2, 
6-3, at Madison Square Garden. The 
three-of-five set final lasted two hours; 

* ‘It really feels great, fantastic,” said 
Novotna, who won the title for the first 
time in her ninth year of qualifying for 
the elite 16-player event 
“I thought it was very important — 
whoever won the first set would be 
playing with more confidence,” said 
Novotna. “From that point on, my game 
got stronger.” Novotna scored 15 aces 
and never dropped her serve. 

Novotna, who earned $500,000 for 
her victory, broke down in tears of joy 
during the award ceremony. She 
thanked her coach. Harm Mandfilova 
The 27 -year-old Czech became the 
first player since Martina. Navratilova in 

1983 to win both the singles and doubles 
tides at the Chase championships. 

She claimed the doubles crown on 
Saturday night with her partner, Lind- 
say Davenport, and shared a $200,000 

Robin Finn of The New York Times 
reported earlier: 

Mary Pierce got to the final after 
beating 14th-ranked Nathalie Tauziai 
on Saturday. 

Pierce, who began this comeback 
season by reaching the final of the Aus- 
tralian Open, the year's first important 
event, wanted to conclude 1997 by mak- 
ing the final of the Chase, the year’s last 
important event 

So the seventh-seeded Pierce poun- 
ded away at Tauzint and prevailed, 6-2, 
5-7, 6-4. 

The final Sunday was the first at the 
Chase Championships for both Pierce 
and Novotna. 

* ‘This is definitely going to be a new 
experience for both of us," Novotna 
said Saturday after defeating the eighth- 
seeded Irina Spirlea of Romania. 7-6 (7- 
5), 6-2, to enter the uncharted territory 

of the tournament’s three-of-five-set fi- 
nal. “Anything is possible.” 

Though the 22-year-old Pierce, by 
nature a baseline power broker, and the 
29-year-old Novotna, by design an all- 
court tactician, are stylistic opposites, 
both tend to court complications; Their 
confidence levels are, tike the weather, 
maddeningly variable. 

Novotna felt she controlled her con- 
frontation with the talented, albeit er- 
ratic, Spirlea by pouring on ihe ag- 
gression in their tiebreaker. Spirlea 
finished her two-hour quarterfinal vic- 
tory over Mary Joe Fernandez shortly 
after midnight Friday. 

Against Pierce, whom she has beaten 
in four previous meetings without yield- 
ing a set, Novotna figured to use the 
same strategy that' had worked before. 
But this Pierce is a different player from 
the one Novotna toyed with in the 

“It's the last match of the year, and 
I’m going to give it everything I have,” 
Pierce said. 

Pierce did not exactly say she felt' 
reborn here after two months on the 

sideline with a kidney' infection. But if k 
omnipotence could be worn like a brand, 
new tennis tunic, that was what Pierce , 
carried into her s emifinal clash with ‘ 
Tauziat, her French Fed Cup team- 

Tauziat was reluctant to play along 
with Pierce’s plan to power herself into 
the final. After cooperating in the open- 
ing set, when Pierce got to flex her 
muscles in body-builder fashion before, 
during and after almost every point, 
Tauziat decided to get tougb in the 
second, when Pierce allotted her 10 
break chances. Tauziat broke Pierce, 
who began to sink into an old habit of 
overiiitting when pressed, to take a 3-2 
lead and held serve for 4-2. 

Though Pierce broke back in the 
eighth game for 4-4 and left herself just 
a game short of victory at 5-4, Tauziat 
prolonged the set, then won it The 
service breaks, and the howls from the 
frustrated Tauziat, continued in Ihe final 
set, when Pierce roared ahead to a 5-2 
lead only to retreat to 5-4 after being , ; 
broken at love as she served for the#), 
m atch- " » / 

Sumo’s 600-Pound ‘Mount Everest’ Retires in Japan 

By Nicholas D. Kristof 

New York Times Service 

TOKYO — He is to other men what 
Mount Everest is to a hillock, and for 1 5 
years the 600-pound wrestler known as 
Konishiki has been one of the most 
famous and even influential foreigners 
in Japan, helping to open the ancient 
sport of sumo to the outside world. 

After an extraordinary career that 
began when he first entered the ring in 
1982, Konishiki announced his retire- 
ment Saturday. His withdrawal from 
sumo competitions is a landmark event 
in Japan, treated as far more serious by 
most people than the departure of any 
ambassador, and rumors of his retire- 
ment have blazed across the tabloid 
front pages for days. 

Bom Salevaa Atisanoe in American 
Samoa and raised in Hawaii, he took the 
name Konishiki when he began com- 
peting in sumo. And although he never 

was awarded the highest rank, he was 
tire first foreigner to achieve the second- 
highest rank. 

More broadly, Konishiki helped pry 
open sumo to international competition. 
He forced Japan to confront delicate 
questions about whether its sacred na- 
tional essence could ever be mastered 
by foreigners, and — although he him- 
self was not a beneficiary — the answer 
came in the affirmative when another 
American was later elevated to the 
highest rank of sumo. 

“I've had all kinds of different feel- 
ings over the years,” Konishiki said on 
Japanese television Saturday night, 
speaking in the fluent Japanese he has 
acquired and alluding to his numerous 
setbacks and his failure to win the highest 
rank. “But I'm glad that I've continued 
with sumo, because I've learned a lot 
from sumo, and I've also learned the 
Japanese language and lifestyle.” 

Konishiki, 33, retired because he had 

suffered a growing number of defeats 
and would have been demoted to a lower 
division if he had stayed. He had said 
earlier that he would retire rather than 
fight in the lower division. One reason 
for Kooishiki’s poor record in recent 
boots is health problems and chronic 
injuries, some relating to his vast bulk. 

Konishiki, who acquired Japanese 
nationality in 1994, will remain in Japan 
as an elder in sumo circles using the 
name Sanoyama. 

It is difficult for foreigners to ap- 
preciate how startling and unsettling it 
was for many Japanese when Ko nishiki 
first began soaring through sumo rank- 
ings, winning upset victories. 

Sumo is more than a sport in Japan, 
for it is also a profound ritual that has 
close connections to Shinto, the tra- 
ditional religion, and is closely tied to 
imperial history. Legend has it that the 
Japanese gods used to have sumo ■ 
matches among themselves, and the 

sport supposedly spread to humans 
more than 2,000 years ago. In ancient 
.times the emperors are said to have 
served as referees. 

Konishiki ’s critics complained that he 
triumphed by virtue of bulk rather than 
skill, and they added that he lacked the 
aura and dignity of a yokozuna, or grand 
champion, the top rank in sumo. So al- 
though he three times won the prestigious 
Emperor's Cup, he was never promoted 
to yokozuna, and be was quoted in 1992 
as saying be was the victim of racism. 
After a storm of controversy, he said he 
had been misquoted. 

Still. Ko nishiki *s successes paved the 
way for another American, Akebono, to 
be promoted to yokozuna in 1993. 

^The uproar over Konishiki’s pos- 
sible retirement has been going on for 
quite a while now, but through all this he 
has done his best,” the Asahi Shimbun 
newspaper quoted Akebono as saying. 
“He is a real superstar.” 

Pad Solan 1 /TtK Anctaml Pm 

The Hawaiian-born sumo star 
Konishiki, who has ended his ca- 
reer after a struggle with injuries. 

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