Voice of America, 97-11-14

Voice of America: Selected Articles Directory - Previous Article - Next Article

From: The Voice of America <gopher://gopher.voa.gov>

CONTENTS

[01] COST OF NATO ENLARGEMENT BY FRANK RONALDS (WASHINGTON)

[02] EURO STOCKS (S ONLY) BY JACK HUIZENGA (LONDON)

[03] FRIDAY'S EDITORIALS BY GARY EDQUIST (WASHINGTON)

[04] HUNGARY / NATO (L ONLY) BY STEFAN BOS (BUDAPEST)

[05] MOVING TOWARD NATO EXPANSION BY ED WARNER (WASHINGTON)

[06] N-Y ECON WRAP (S & L) BY BRECK ARDERY (NEW YORK)

[01] COST OF NATO ENLARGEMENT BY FRANK RONALDS (WASHINGTON)

INTRO: A NEW NATO STUDY SHARPLY REDUCING ESTIMATES OF THE COSTS OF BRINGING HUNGARY, POLAND AND THE CZECH REPUBLIC INTO THE ORGANIZATION COME AS NO SURPRISE TO MANY EXPERTS ON THE SUBJECT. VOA'S FRANK RONALDS HAS TALKED WITH GENERAL WILLIAM ODOM, WHO HAS TESTIFIED ON THE SUBJECT IN THE U-S SENATE.

TEXT: A RECENT REPORT RELEASED BY THE INTERNATIONAL INSTITUTE FOR STRATEGIC STUDIES IN LONDON SAID THE ACTUAL COST OF NATO ENLARGEMENT IS CAN'T BE DETERMINED. THE REPORT SAYS IT WILL COSTS AS MUCH OR AS LITTLE AS THE COUNTRIES CONCERNED WANT IT TO. GENERAL ODOM AGREES. A FORMER DIRECTOR OF THE U-S NATIONAL SECURITY AGENCY, GENERAL ODOM IS NOW DIRECTOR OF NATIONAL SECURITY STUDIES AT THE HUDSON INSTITUTE, IN WASHINGTON.

THAT'S BEEN MY VIEW FROM THE BEGINNING. YOU KNOW, WE DIDN'T PAY MUCH OF ANYTHING WHEN WE TOOK SPAIN IN, AND SPAIN DIDN'T SEE FIT TO GO FORWARD AT A RECKLESS PACE. BUT THEY DID START A MODERNIZATION PROGRAM WHICH I THINK HAS GONE QUITE FAR. I THINK THAT DESCRIBES IT PRECISELY.

ONE OF THE MAIN COSTS TO THE NEW MEMBERS, GENERAL ODOM SAYS, WILL BE UPGRADING THEIR TELECOMMUNICATIONS SYSTEMS, WHICH IN ANY CASE IS ESSENTIAL TO MODERNIZING THEIR ECONOMIES.

THE MOST IMPORTANT COMMUNICATIONS FOR MILITARY INTEGRATION WILL BE THE PUBLIC TELEPHONE SYSTEMS. AND OF COURSE THOSE WILL HAVE TO BE UPGRADED SO THAT THE ECONOMIES IN THOSE COUNTRIES CAN DEAL MORE EFFECTIVELY WITH WESTERN MARKETS. THAT'S A DUAL COST WHERE FOR QUITE GOOD ECONOMIC REASONS, YOU AT THE SAME TIME ARE BUYING A MILITARY CAPABILITY.

ANOTHER ASPECT OF MODERNIZING THE MILITARIES IN THE THREE NEW COUNTRIES, GENERAL ODOM SAYS, WILL BE CUTTING BACK ON THE LARGE NUMBERS OF OVER-AGE OFFICERS IN STAFF POSITIONS. THAT OUGHT TO REDUCE, RATHER THAN INCREASE, EXPENDITURES.

GENERAL ODOM SAYS THAT THE HIGH COST ESTIMATES WHICH HAVE BEEN QUOTED RECENTLY, SOME GOING ABOVE $100 BILLION, WERE INSPIRED BY PEOPLE WHO WANTED TO KILL ENLARGEMENT BY FRIGHTENING TAXPAYERS. HE BELIEVES THAT THE ESTIMATE OF TWO BILLION DOLLARS OVER THE NEXT DECADE, ANNOUNCED IN BRUSSELS ON THURSDAY, MAY BE A LITTLE LOW. BUT IT IS VITAL, IN HIS VIEW, THAT THE U-S SENATE RATIFY NATO ENLARGEMENT.

IT THINK THE SENATE WILL RATIFY THE TREATY -- THE ENLARGEMENT. I'VE TESTIFIED A COUPLE OF TIME ON THIS OVER IN THE SENATE RECENTLY. AND JUDGING FROM MY SENSE OF THE CLIMATE THERE, THERE REALLY IS A STRONG AND INTENSE MINORITY OPPOSING IT. BUT THERE'S ALSO A FAIRLY CLEAR MAJORITY FOR IT. IT WOULD BE VERY NICE TO HAVE THIS RATIFIED BY A VOTE OF 80 OR 90 SENATORS, RATHER THAN ONLY TWO THIRDS OF THEM. THE VOTE IS MORE IMPORTANT THAN JUST ENLARGEMENT. THIS VOTE SIGNALS A RECOMMITMENT ON THE PART OF THE U-S TO BE ENGAGED IN EUROPE IN GENERAL. I THINK THAT WOULD RECONFIRM IN THE PUBLIC'S MIND AN IMPORTANT POINT. FORTUNATELY, THE PUBLIC SUPPORT FOR THIS SEEMS TO BE FAIRLY STRONG, FAIRLY CONSISTENT AND FAIRLY SOLID.

[02] EURO STOCKS (S ONLY) BY JACK HUIZENGA (LONDON)

INTRO: STOCK PRICES WERE MIXED IN TRADING FRIDAY ON EUROPEAN MARKETS. V-O-A'S JACK HUIZENGA HAS THE CLOSING MARKET REPORT FROM LONDON.

TEXT: MARKETS IN WESTERN EUROPE STARTED THE DAY WITH HEALTHY GAINS, FOLLOWING THE EARLIER TREND IN ASIA. BUT THE UP TREND WAS REVERSED AFTER A NERVOUS OPENING IN NEW YORK. AND MOST OF EUROPE'S EARLY GAINS WERE ERODED. IN PARIS, PRICES ACTUALLY ENDED THE DAY DOWN. THE CAC-40 INDEX FINISHED OFF ALMOST FIVE POINTS, ALMOST TWO-TENTHS PERCENT OF THE FRENCH MARKET'S TOTAL VALUE.

IN FRANKFURT, THE DAX-30 INDEX CLOSED UP MORE THAN 26 POINTS, ABOUT SEVEN-TENTHS PERCENT.

AND IN LONDON, THE FOOTSIE-100 INDEX ROSE ALMOST 31 POINTS, MORE THAN SIX-TENTHS PERCENT.

ON THE LONDON CURRENCY EXCHANGE, THE U-S DOLLAR GAINED A VALUE AGAINST THE GERMAN MARK, THE JAPANESE YEN, AND THE BRITISH POUND.
NEB/JWH/EH
14-Nov-97 1:11 PM EST (1811 UTC)
NNNN
Source: Voice of America

[03] FRIDAY'S EDITORIALS BY GARY EDQUIST (WASHINGTON)

INTRO: THE TEST OF WILLS BETWEEN IRAQ AND THE UNITED NATIONS CONTINUES AS A MAJOR TOPIC IN U-S NEWSPAPERS THIS FRIDAY. CONGRESS HAS ENDED IT SESSION AND GONE HOME, AND AN EDITORIAL SAYS ARAB COUNTRIES ARE MAKING A MISTAKE BY STAYING AWAY FROM THE DOHA ECONOMIC SUMMIT. NOW, HERE'S _____________________WITH A CLOSER LOOK AND SOME QUOTES IN TODAY'S EDITORIAL DIGEST.

TEXT: FOR THE FIRST TIME IN MORE THAN SIX YEARS, THERE ARE NO UNITED NATIONS WEAPONS INSPECTORS IN IRAQ. THE U-N SECURITY COUNCIL STRONGLY CONDEMNED IRAQ'S EXPULSION OF SIX AMERICAN INSPECTORS AND DEMANDED THAT BAGHDAD RESCIND ITS DECISION. NEARLY 70 OTHER MEMBERS OF THE U-N WEAPONS COMISSION FLEW TO BAHRAIN (FRIDAY) TO PROTEST THE EXPULSION OF THE AMERICANS. THE BOSTON GLOBE WRITES THAT NOW THAT SADDAM HUSSEIN HAS EXPELLED THE AMERICAN INSPECTORS, "IT IS TIME TO TAKE ACTION."

VOICE: "SADDAM HUSSEIN IS TESTING THIS COUNTRY, ONCE AGAIN BETTING THAT THE UNITED STATES WILL BACK DOWN. ... IF THE PRESIDENT LETS SADDAM GET AWAY WITH THIS ONE, [PRESIDENT] CLINTON'S LEGACY WILL BE ONE OF FAILURE TO PROTECT THE VITAL INTERESTS OF HIS COUNTRY AND THE WORLD."

TEXT: THE ATLANTA CONSTITUTION WRITES THAT "IRAQ INSPECTORS (ARE) SAFE, BUT (THE) WORLD ISN'T." THE NEWSPAPER ADDS:

VOICE: "SADDAM TRIED TO SPLIT THE INSPECTION CREW, SINGLING OUT ITS SIX AMERICANS FOR EXPULSION AND CLAIMING NO QUARREL WITH THE REST. THAT IS HOGWASH [TOTALLY FALSE]. IF THE UNITED NATIONS HAD LET HIM GET AWAY WITH THE AMERICANS' OUSTER, HE SOON WOULD HAVE FOUND OTHER TROUBLESOME INSPECTORS TO BOOT OUT."

TEXT: MANY ARAB COUNTRIES SAY THEY ARE PLANNING TO BOYCOTT THIS WEEKEND'S ECONOMIC CONFERENCE IN DOHA, QATAR. THAT IS A "SAD MISTAKE," WRITES THE NEW YORK TIMES.

VOICE: "STAYING AWAY FROM THE FOURTH ANNUAL MIDDLE EAST AND NORTH AFRICA ECONOMIC CONFERENCE AT DOHA, QATAR, CAN ONLY HURT THE STALLED ISRAELI-PALESTINIAN PEACE PROCESS. THE MEETING IS DESIGNED TO BUILD THE KIND OF ECONOMIC LINKS THAT BROUGHT RECONCILIATION BETWEEN TRADITIONAL FOES LIKE FRANCE AND GERMANY AFTER WORLD WAR TWO. BUT WHEN COUNTRIES LONG COMMITTED TO PEACE, LIKE EGYPT AND MOROCCO, AND AMERICAN ALLIES LIKE SAUDI ARABIA STAY AWAY, THEY REINFORCE THE EFFORTS OF EXTREMEISTS ON BOTH SIDES OF THE ARAB-ISRAELI DIVIDE."

TEXT: THE U-S FEDERAL BUREAU OF INVESTIGATION CONCLUDED THIS WEEK THAT THE JULY 17, 1996 CRASH OF T-W-A FLIGHT 800 WAS NOT CAUSED BY TERRORISTS. ALL 230 PEOPLE ON THE PLANE WERE KILLED WHEN THE PLANE EXPLODED SHORTLY AFTER TAKING OFF FROM NEW YORK CITY. NEWSDAY WRITES IN ITS EDITORIAL:

VOICE: "NOW THAT TERRORISM HAS BEEN ELIMINATED FROM CONSIDERATION, THE QUESTION IS WHETHER THE NATIONAL TRANSPORTATION SAFETY BOARD CAN BE EQUALLY DEFINITE ABOUT WHAT DID CAUSE THE CRASH. ... THE CONCLUSION THAT TERRORISTS DIDN'T BRING DOWN FLIGHT 800 SHOULDN'T LEAD TO ANY RELAXATION OF VIGILANCE."

TEXT: // OPT // THE U-S CONGRESS HAS WRAPPED UP ITS SESSION FOR THE YEAR, PASSING A FLURRY OF LEGISLATION LATE THURSDAY, INCLUDING BILLS ON FOREIGN AID, GOVERNMENT FUNDING AND IMMIGRATION. THE WASHINGTON POST HAS THIS COMMENT ABOUT THE LEGISLATIVE SESSION. VOCE: "THE PRINCIPAL ACCOMPLISHMENT AS THE TWO HOUSES ADJOURNED UNTIL NEXT YEAR WAS THE BALANCED BUDGET AMENDMENT THAT THE PRESIDENT AND THE REPUBLICANS REACHED LAST SUMMER. THE AGREEMENT WAS PARTLY AN ILLUSION; IT DID SOME GOOD BUT LESS THAN CONTINUES TO MEET THE EAR. ... THEY (LEGISLATORS) GO HOME CLAIMING TO HAVE ACCOMPLISHED A GREAT DEAL, BUT THEIR ACCOMPLISHMENTS ARE PRETTY SLIM." // END OPT //

TEXT: WITH THAT, WE CONCLUDE THIS SAMPLING OF COMMENTS FROM THE EDITORIAL PAGES OF FRIDAY'S U-S PRESS.
NEB/GE/EH
14-Nov-97 12:18 PM EST (1718 UTC)
NNNN
Source: Voice of America

[04] HUNGARY / NATO (L ONLY) BY STEFAN BOS (BUDAPEST)

INTRO: CITIZENS OF HUNGARY WILL VOTE SUNDAY IN A REFERENDUM ON WHETHER THEY WANT THEIR COUNTRY TO JOIN NATO. STEFAN BOS IN BUDAPEST REPORTS HUNGARY'S GOVERNMENT STRONGLY SUPPORTS THE PROPOSAL AND HAS LAUNCHED A MASSIVE CAMPAIGN TO WIN A "YES" VOTE.

TEXT: HUNGARY'S DEFENSE MINISTER, GYORGY KELETI, SAYS HE HAS BEEN ASSURED THAT IF HUNGARY JOINS THE NATO ALLIANCE, IT WOULD NOT BE REQUIRED TO BASE NUCLEAR WEAPONS ON ITS TERRITORY.

MR. KELETI SAYS THIS IS ANOTHER REASON WHY HUNGARIANS SHOULD NOT BE AFRAID TO SUPPORT NATO MEMBERSHIP IN THE BINDING REFERENDUM ON SUNDAY.

MR. KELETI SAYS HUNGARY HAS BEEN GUARANTEED BY NATO LEADERS THAT THERE WILL BE NO NUCLEAR WEAPONS IN HUNGARY. HE SAYS HUNGARY MADE AN AGREEMENT WITH NATO ABOUT THIS ISSUE, SO HE IS SURE NUCLEAR WEAPONS WILL NOT BE BASED IN THE COUNTRY.

OPPOSITION GROUPS ARE NOT CONVINCED. THEY SAY THEY FEAR A CRISIS STILL COULD LEAD TO THE BASING OF NUCLEAR WEAPONS ON HUNGARIAN SOIL. AND THEY ARE TAKING THEIR MESSAGE TO THE STREETS OF BUDAPEST.

THE ANTI-NATO DEMONSTATORS -- ARMED WITH LOUDSPEAKERS -- ARE ASKING HUNGARIANS TO VOTE AGAINST JOINING THE ALLIANCE. AND THEY SAY THE QUESTION OF NUCLEAR WEAPONS IS NOT THE ONLY PROBLEM WITH NATO MEMBERSHIP.

A REPRESENTATIVE OF THE PEACE MOVEMENT "ALBA KOR," LASZLO PERNECZKY, SAYS HE BELIEVES NATO MEMBERSHIP WOULD LEAD TO TENSIONS WITH RUSSIA. HE SAYS THERE IS NO NEED TO JOIN THE ALLIANCE BECAUSE THE SOVIET UNION HAS DISAPPEARED.

GOVERNMENT OFFICIALS SAY NEUTRALITY IS MORE EXPENSIVE FOR HUNGARY THAN JOINING NATO. BUT MR. PERNECZKY DISAGREES.

THEY SAY NEUTRALITY WOULD BE MUCH MORE EXPENSIVE. BUT IN FACT, IF YOU COMPARE ANY OF THE NEUTRAL EUROPEAN COUNTRIES INCLUDING SWITZERLAND OR AUSTRIA, IT IS A FACT THAT THEY SPEND MORE ON MILITARY EXPENSES THAN HUNGARY DOES. BUT COMPARED TO ANY OF THE NATO NATIONS, IT IS STILL MUCH LESS. AND THERE ARE NEW ENEMIES OF NATO, MAYBE CHINA OR SOUTH EAST ASIA, THOSE WOULD BECOME THE ENEMIES OF HUNGARY AS WELL, WHILE WE ARE NOW NON-PLAYERS FOR THEM.

HUNGARY'S GOVERNMENT HAS LAUNCHED A MASSIVE CAMPAIGN TO COUNTER THE ANTI-NATO ACTIVISTS. ACCORDING TO SOME ESTIMATES, THE GOVERNMENT HAS SPENT UP TO TWO-MILLION DOLLARS IN PRINT AND BROADCAST MEDIA TO ENCOURAGE NATO MEMBERSHIP.

POLITICALLY THERE IS A DANGER IN THE REFERENDUM THAT MANY PEOPLE MIGHT FEEL THAT NATO MEMBERSHIP FOR HUNGARY IS ARRANGED ALREADY BECAUSE THERE IS A CONSENSUS IN NATO AND ALSO EVEN IN HUNGARY'S PARLIAMENT. ONLY PARTIES OUTSIDE THE PARLIAMENT, EXTREME RIGHT OR EXTREME LEFT ARE OPPOSING NATO MEMBERSHIP. SO MANY PEOPLE COULD FEEL THAT THE SO CALLED POLITICAL ELITE SUPPORT NATO MEMBERSHIP, SO THEY THINK: "WHY DO THEY NEED MY VOTE?"

OPINION POLLS SUGGEST ABOUT 60 PERCENT OF HUNGARY'S EIGHT-MILLION ELIGIBLE VOTERS SUPPORT MEMBERSHIP IN THE ALLIANCE.

HUNGARY IS ONE OF THREE CENTRAL EUROPEAN NATION INVITED TO SEEK MEMBERSHIP IN NATO. THE OTHERS ARE POLAND AND THE CZECH REPUBLIC. BUT HUNGARY IS THE ONLY COUNTRY OF THE THREE TO SUBMIT THE QUESTION TO A BINDING VOTE OF ITS CITIZENS. (SIGNED)
NEB/SF/JWH/KL
14-Nov-97 5:00 AM EST (1000 UTC)
NNNN
Source: Voice of America

[05] MOVING TOWARD NATO EXPANSION BY ED WARNER (WASHINGTON)

INTRO: MOMENTUM SEEMS BEHIND APPROVAL OF NATO EXPANSION, THOUGH DOUBTS REMAIN ABOUT ITS IMPACT ON RUSSIA AND THE EVENTUAL MISSION OF THE ALLIANCE. V-O-A'S ED WARNER REPORTS VARYING VIEWS OF THE ENLARGED NATO AND ITS CONSEQUENCES

TEXT: A GREAT DEBATE MAY NOT SHAPE UP IN THE UNITED STATES OVER THE EXPANSION OF NATO. THAT IS THE OPINION OF OBSERVERS WHO SAY THAT EVEN OPPONENTS OF ENLARGEMENT THINK THE PROCESS HAS GONE TOO FAR TO STOP NOW WITHOUT A SERIOUS BLOW TO U-S CREDIBILITY.

MICHAEL O'HANLON, AN ANALYST OF MILITARY AFFAIRS AT WASHINGTON'S BROOKINGS INSTITUTION, EXPECTS EXPANSION TO BE APPROVED RATHER EASILY BY THE U-S SENATE, PERHAPS BY MARCH OF NEXT YEAR:

EVEN THOUGH THE CONGRESSIONAL DEMOCRATS PROVED THEY WOULD VOTE AGAINST THE PRESIDENT ON A BREAD-AND-BUTTER ISSUE LIKE "FAST TRACK," (TRADE AGREEMENT) THIS IS AN ISSUE THAT IS UNLIKELY TO HURT MOST CONGRESSMEN, AND THEY WOULD PROBABLY PREFER TO SUPPORT A PRESIDENT OF THEIR OWN PARTY, AND I THINK REPUBLICANS WOULD BE INCLINED TO SUPPORT NATO EXPANSION AS ESSENTIALLY A REAFFIRMATION OF AMERICAN GLOBAL LEADERSHIP AND STRENGTH AND DETERRENCE.

NEGOTIATIONS ON EXPANSION, INCLUDING THE TROUBLESOME ISSUE OF COSTS, ARE EXPECTED TO BE COMPLETED IN DECEMBER WHEN THE NATO FOREIGN MINISTERS MEET. RATIFICATION BY MEMBER STATES WILL FOLLOW WITHOUT ANY ANTICIPATED PROBLEMS.

SIMON SERFATY, DIRECTOR OF EUROPEAN STUDIES AT THE CENTER FOR STRATEGIC AND INTERNATIONAL STUDIES IN WASHINGTON, WOULD PREFER THE UNITED STATES NOT BE THE FIRST TO RATIFY:

WHAT I WOULD LIKE TO SEE IS A COUPLE OF LEADING EUROPEAN STATES RATIFY BEFORE THE U-S SENATE VOTE SO THAT WE GET THE FEELING ON THIS SIDE OF THE ATLANTIC THAT WE DO NOT DO THE WHOLE THING, THAT THE EUROPEANS, AFTER ALL, HAVE SOME STAKE IN THIS DECISION AND THEY DO NOT DEFINE THEIR IDENTITY IN TERMS OF WHAT WE DO.

MR. SERFATY THINKS BRITAIN AND GERMANY MIGHT APPROVE EXPANSION AHEAD OF THE UNITED STATES.

HE BELIEVES SOME MISHAP IN BOSNIA MAY BE THE ONLY REMAINING OBSTACLE. THAT IS WHY THE CLINTON ADMINISTRATION SEEKS AN EARLY VOTE ON NATO EXPANSION BEFORE DEBATE GETS UNDERWAY ON THE FUTURE OF U-S FORCES IN BOSNIA:

THERE IS SOME CONCERN ABOUT THE MERGER OF THE TWO DEBATES. AND THERE IS NO QUESTION THAT SOME U-S CASUALTIES IN BOSNIA WOULD HAVE A DIRECT IMPACT ON THE NATO ENLARGEMENT DEBATE AND WOULD CAUSE SOME SENATORS TO RECONSIDER. HENCE, THE PRUDENCE OF THE ADMINISTRATION IN NOT ATTEMPTING TO PICK UP THE WAR CRIMINALS, FOR EXAMPLE, LAST FALL.

MR. SERFATY IS NOT CONCERNED ABOUT THE RUSSIAN REACTION TO NATO EXPANSION. JOHN MEARSHEIMER, PROFESSOR OF POLITICS AT THE UNIVERSITY OF CHICAGO, DISAGREES:

WHAT YOU GET WITH NATO EXPANSION IS A SITUATION WHERE YOU STIR UP ALL SORTS OF TROUBLE IN CENTRAL EUROPE IN LARGE PART BECAUSE YOU SCARE THE RUSSIANS. YOU TAKE THE RUSSIANS AT A PARTICULAR POINT IN TIME WHEN THEY ARE VULNERABLE. THEY ARE VERY VERY WEAK, AND YOU MOVE MILTARY FORCES CLOSER TO THEIR BORDER, WHICH FROM THEIR PERSPECTIVE - AND IT IS COMPLETELY UNDERSTANDABLE - SEEMS TO BE A VIOLATION OF THE AGREEMENT THAT ENDED THE COLD WAR.

PROFESSOR MEARSHEIMER EXPECTS RUSSIANS TO RETALIATE IN VARIOUS UNPLEASANT WAYS. FURTHERMORE, IN HIS OPINION, THE UNITED STATES CAN HARDLY EXPECT MOSCOW TO HELP IN DEALING WITH IRAN AND IRAQ WHEN IT CONSIDERS NATO EXPANSION A CLEAR THREAT TO ITS SECURITY.

RUSSIA IS EXPECTED TO BE EVEN MORE ALARMED IF MORE STATES ARE ADMITTED TO NATO, IN PARTICULAR THE THREE BALTIC ONES WHICH ARE ANXIOUS TO JOIN.

MICHAEL O'HANLON OF BROOKINGS SAYS THE NEXT STEPS MUST BE TAKEN WITH GREAT CARE:

WHAT IS NATO EXPANSION REALLY ALL ABOUT ANYWAY? IS IT RESIDUAL DETERRENCE AGAINST RUSSIA OR IS IT A BROADER WAY TO SHAPE THE EUROPEAN SECURITY ENVIRONMENT? I THINK IT SHOULD BE THE LATTER, AND THEREFORE THAT WE SHOULD AVOID PROVOKING RUSSIA. I THINK WE HAVE MANAGED TO WORK OUT SOME OF THE DFFICULTIES THIS TIME AROUND WITH THE FOUNDING ACT, BUT I DO NOT BELIEVE THE FOUNDING ACT WILL SUFFICE TO KEEP RELATIONS WITH RUSSIA IN GOOD SHAPE IF WE QUICKLY ADMIT THE BALTIC STATES.

MR. O'HANLON AND OTHERS SAY A WHOLE RANGE OF GEOPOLITICAL ISSUES MUST BE CONSIDERED BEFORE THERE IS ANY FURTHER ALTERATION OF NATO. (SIGNED)
NEB/PT
13-Nov-97 7:18 PM EST (0018 UTC)
NNNN
Source: Voice of America

[06] N-Y ECON WRAP (S & L) BY BRECK ARDERY (NEW YORK)

INTRO: STOCK PRICES IN THE UNITED STATES WERE UP STRONGLY TODAY (FRIDAY) ON POSITIVE ECONOMIC NEWS. VOA CORRESPONDENT BRECK ARDERY REPORTS FROM NEW YORK.

TEXT: THE DOW JONES INDUSTRIAL AVERAGE CLOSED AT 75 HUNDRED 72, UP 84 POINTS. FOR THE WEEK, THE INDUSTRIAL AVERAGE LOST NINE POINTS. THE STANDARD AND POOR'S 500 INDEX CLOSED FRIDAY AT 928, UP 11 POINTS.

THE GOVERNMENT REPORTED WHOLESALE PRICES IN THE UNITED STATES WERE UP BY A VERY MODEST ONE-TENTH OF ONE PERCENT LAST MONTH. ECONOMISTS SAY IT IS ANOTHER SIGN THAT THERE ARE STILL NO SERIOUSLY INFLATIONARY PRESSURES IN THE U-S ECONOMY. AND, RETAIL SALES WERE DOWN IN OCTOBER FOR THE SECOND MONTH IN A ROW, PRIMARILY REFLECTING A WEAKENING DEMAND FOR NEW CARS.

ANALYSTS SAY THAT COMBINATION OF SLOWER RETAIL SALES AND THE MODEST WHOLESALE PRICE INCREASES PROBABLY MEANS THE U-S CENTRAL BANK CAN CONTINUE TO HOLD SHORT-TERM INTEREST RATES DOWN.

THE WESTINGHOUSE ELECTRIC COMPANY IS SELLING ITS POWER GENERATION BUSINESS TO THE SIEMENS COMPANY OF GERMANY FOR ONE AND ONE-HALF BILLION DOLLARS IN CASH. IT IS PART OF WESTINGHOUSE'S STRATEGY TO DIVEST ITS INDUSTRIAL OPERATIONS IN ORDER TO CONCENTRATE ON ITS MEDIA HOLDINGS, INCLUDING THE C-B-S TELEVISION NETWORK.

THE STOCK OF THE AMERICAN STORES COMPANY FELL ALMOST 30 PERCENT AFTER THE FIRM WARNED THAT ITS QUARTERLY PROFITS WILL BE SUBSTANTIALLY LOWER THAN EXPECTED. AMERICAN STORES IS ONE OF THE LARGEST FOOD AND DRUG RETAILERS IN THE UNITED STATES.

THE HERSHEY FOODS COMPANY IS SUING THE MARS CANDY CORPORATION OVER ALLEGED COPYRIGHT INFRINGEMENT. HERSHEY SAYS THE PACKAGING FOR MARS' PEANUT BUTTER "M AND M'S" LOOKS SUSPICIOUSLY LIKE THE PACKAGING FOR HERSHEY'S "REESE'S" PEANUT BUTTER CANDIES.(SIGNED) NEB/NY/BA/LSF/EH
14-Nov-97 5:11 PM EST (2211 UTC)
NNNN
Source: Voice of America

Voice of America: Selected Articles Directory - Previous Article - Next Article