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Voice of America, 97-08-05

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

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


CONTENTS

  • [01] ATHENS '97-DAY THREE WRAP (L) BY STEVE SCHY (ATHENS, GREECE)
  • [02] ATHENS '97 - DAY FOUR PREVIEW (S) BY STEVE SCHY (ATHENS, GREECE)
  • [03] ATHENS '97 - DAY FOUR WRAP (S) BY STEVE SCHY (ATHENS, GREECE)
  • [04] BOSNIA / GERMANY (S-ONLY) BY KYLE KING (BONN)
  • [05] BULGARIA MONEY BY BARRY WOOD (WASHINGTON)
  • [06] EURO STOCKS (S-ONLY) BY PAUL FRANCUCH (LONDON)
  • [07] EUROPE / BOSNIA (L-ONLY) BY ART CHIMES (PRAGUE)
  • [08] N-Y ECON WRAP (S & L) BY BRECK ARDERY (NEW YORK)
  • [09] TUDJMAN INAUGURATED (S-ONLY) BY ART CHIMES (PRAGUE)
  • [10] TUESDAY'S EDITORIALS BY GARY EDQUIST (WASHINGTON)

  • [01] ATHENS '97-DAY THREE WRAP (L) BY STEVE SCHY (ATHENS, GREECE)

    DATE=8/4/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-218105
    CONTENT=
    VOICED AT:

    INTRO: THE UNITED STATES REMAINS AT THE TOP OF THE MEDALS TABLE AFTER THREE NIGHTS OF COMPETITION AT THE WORLD TRACK AND FIELD CHAMPIONSHIPS IN GREECE. BUT AS STEVE SCHY REPORTS FROM OLYMPIC STADIUM IN ATHENS, THE U-S WAS UNABLE TO ADD TO ITS GOLD MEDAL TALLY MONDAY NIGHT.

    TEXT: CATHERINE FREEMAN OF AUSTRALIA GOT OFF TO A SLOW START BUT TURNED ON THE SPEED TO EDGE JAMAICA'S SANDIE RICHARDS BY TWO-100THS OF A SECOND TO TAKE THE GOLD MEDAL IN THE WOMEN'S 400-METERS. AFTER THE RACE FREEMAN SAID SHE'S HAD A TOUGH YEAR AND WAS RELIEVED TO HAVE WON.

    // FREEMAN ACT //

    NOT EVERYTHING RUNS SMOOTHLY OR WONDERFULLY GLORIOUSLY PERFECT ALL THE TIME. BUT I GUESS THIS IS A TESTAMENT TO MY CHARACTER, SO I GUESS THAT'S WHY I'M HAPPY.

    // END ACT //

    FREEMAN'S WINNING TIME OF 49-POINT-SEVEN-SEVEN SECONDS WAS MORE THAN TWO SECONDS OFF THE WORLD RECORD (47.60). RICHARDS WON THE SILVER MEDAL, WHILE THE BRONZE WENT TO AMERICAN JEARL MILES-CLARKE (49.90).

    SARKA KASPARKOVA OF THE CZECH REPUBLIC WAS THE GOLD MEDALIST IN THE WOMEN'S TRIPLE JUMP, WITH A LEAP OF 15-POINT-TWO-ZERO METERS, THE BEST IN THE WORLD THIS YEAR. AFTER THE RACE SHE SAID SHE STILL CAN'T BELIEVE SHE WON.

    // ACT //

    I WILL BE UNDERSTANDING MAYBE TOMORROW, MAYBE ONE WEEK, MAYBE IF I COME BACK TO OUR COUNTRY - AND MAYBE I DON'T UNDERSTAND NEVER. I MUST SAY I'M VERY HAPPY.

    // END ACT //

    RODICA MATEESCU OF ROMANIA SET A NATIONAL RECORD (15.16) BUT FINISHED WITH THE SILVER, WHILE YELENA GOVOROVA OF THE UKRAINE TOOK THE BRONZE (14.67).

    IN THE MEN'S 400-METER HURDLES, FRENCHMAN STEPHANE DIAGANA (DEH-AH'GANA) TOOK THE GOLD IN A WORLD LEADING 47-POINT-SEVEN-ZERO SECONDS. HERBERT LLEWELLYN OF SOUTH AFRICA GOT THE SILVER 16-100THS OF A SECOND BACK AND THE BRONZE MEDAL WENT TO AMERICAN BRYAN BRONSON (47.88).

    MEANWHILE MICHAEL JOHNSON OF THE UNITED STATES RETURNED TO FORM IN THE MEN'S 400-METER SEMI-FINALS, RUNNING THE FASTEST TIME IN BOTH HEATS (44.37). BUT COUNTRYMAN TYREE WASHINGTON, WHO WON THE OTHER SEMI FINAL HEAT TOLD V-O-A SPORTS HE'S NOT AFRAID OF JOHNSON.

    // ACT //

    I DON'T CARE NOTHING ABOUT MICHAEL, OK? I MEAN, MICHAEL'S GOING TO DO WHAT MICHAEL'S GOING TO DO, TYREE'S GOING TO DO WHAT TYREE IS GOING TO DO. I DON'T FEAR THAT MAN, HE'S JUST LIKE ME. IF I SEE HIM ON THE STREET, HE'S JUST ANOTHER BODY. AND THAT'S WHAT HE IS ON THE TRACK.

    // END ACT //

    THE UNITED STATES LEADS THE MEDALS TABLE AFTER THE FIRST THREE DAYS OF COMPETITION, WITH SIX MEDALS, INCLUDING TWO GOLD. THE UKRAINE HAS FOUR TOTAL WITH ONE GOLD, AND GERMANY HAS THREE MEDALS, TWO OF THEM GOLD. (SIGNED)
    NEB/SS/ENE/LWM
    04-Aug-97 7:40 PM EDT (2340 UTC)
    NNNN
    Source: Voice of America


    [02] ATHENS '97 - DAY FOUR PREVIEW (S) BY STEVE SCHY (ATHENS, GREECE)

    DATE=8/5/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-218130
    CONTENT=
    VOICED AT:

    INTRO: IT'S DAY FOUR AT THE WORLD TRACK AND FIELD CHAMPIONSHIPS IN ATHENS, GREECE, AND THE COMPETITION IS HEATING UP. AS V-O-A'S STEVE SCHY REPORTS FROM OLYMPIC STADIUM, IN ADDITION TO QUALIFYING EVENTS, THERE ARE FIVE GOLD MEDALS ON THE LINE TUESDAY NIGHT.

    TEXT: THE WORLD TITLES WILL BE DECIDED IN THE MEN'S JAVELIN AND LONG JUMP, AND THE WOMEN'S 15-HUNDRED AND 10-THOUSAND METERS. BUT ALL EYES ARE FOCUSED ON THE FINAL EVENT OF THE EVENING -- THE MEN'S 400 METERS.

    OLYMPIC CHAMPION MICHAEL JOHNSON OF THE UNITED STATES HOLDS THE WORLD CHAMPIONSHIP RECORD (43.39) IN THE EVET, YET HIS PERFORMANCE HERE HAS BEEN INCONSISTENT.

    JOHNSON BARELY MADE IT TO THE SEMI-FINALS, PLACING 15TH OUT OF 16 QUALIFIERS, RAISING QUESTIONS ABOUT HIS CHANCES. BUT HE SILENCED HIS CRITICS IN THE SEMIS, RUNNING THE FASTEST QUALIFYING TIME IN BOTH HEATS - 44-POINT-THREE-SEVEN SECONDS.

    ONE PERSON NOT INTIMIDATED BY JOHNSON IS FELLOW AMERICAN TYREE WASHINGTON. WASHINGTON WON THE OTHER SEMI-FINAL HEAT (44.61), AND TOLD V-O-A SPORTS HE'S TIRED OF HEARING ABOUT JOHNSON.

    // WASHINGTON ACT //

    I DON'T CARE NOTHING ABOUT MICHAEL, OK? I MEAN, MICHAEL'S GOING TO DO WHAT MICHAEL'S GOING TO DO. TYREE'S GOING TO DO WHAT TYREE IS GOING TO DO. I DON'T FEAR THAT MAN, HE'S JUST LIKE ME. IF I SEE HIM ON THE STREET, HE'S JUST ANOTHER BODY. AND THAT'S WHAT HE IS ON THE TRACK.

    // END ACT //

    THE UNITED STATES LEADS THE MEDALS TABLE AFTER THE FIRST THREE DAYS OF COMPETITION, WITH SIX MEDALS, INCLUDING TWO GOLD. BOTH JOHNSON AND WASHINGTON ARE HOPING TO INCREASE THAT COUNT. (SIGNED)
    NEB/SS/RRM
    05-Aug-97 12:11 PM EDT (1611 UTC)
    NNNN
    Source: Voice of America


    [03] ATHENS '97 - DAY FOUR WRAP (S) BY STEVE SCHY (ATHENS, GREECE)

    DATE=8/5/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-218152
    CONTENT=
    VOICED AT:

    INTRO: THE COMPETITION HAS ENDED ON THE FOURTH DAY OF THE WORLD TRACK AND FIELD CHAMPIONSHIPS IN ATHENS, GREECE, WITH GOLD MEDALS AWARDED IN THREE MEN'S AND TWO WOMEN'S EVENTS. AS STEVE SCHY REPORTS FROM OLYMPIC STADIUM, THE MEN'S 400 METERS WAS THE MARQUEE EVENT TUESDAY NIGHT.

    TEXT: AMERICAN MICHAEL JOHNSON WAS THE FASTEST OUT OF THE BLOCKS, AND DESPITE GETTING A CRAMP WITH 150-METERS TO GO, MANAGED A GOLD MEDAL PERFORMANCE IN THE MEN'S 400 METERS, WINNING IN 44.1 SECONDS

    /// JOHNSON ACT ///

    TODAY'S RACE I EXPECTED TO RUN A LOT FASTER THAN I DID, BUT A VICTORY IS A VICTORY AND I'M HAPPY I WAS ABLE TO DEFEND MY CHAMPIONSHIP.

    /// END ACT ///

    DAVIS KOMOGA OF UGANDA TOOK THE SILVER MEDAL (44.37) AND TYREE WASHINGTON OF THE UNITED STATES WON THE BRONZE (44.39).

    IN OTHER MEN'S RESULTS, CUBAN IVAN PEDROSO EDGED AMERICAN ERICK WALDER BY FOUR CENTIMETERS TO WIN THE GOLD MEDAL IN THE MEN'S LONG JUMP (8.42), WHILE IN THE JAVELIN THROW, SOUTH AFRICAN MARIUS CORBETT WAS THE SURPRISE GOLD MEDAL WINNER (88.40).

    IN WOMEN'S EVENTS, KENYAN TEENAGER SALLY BARSOSIO TOOK HOME THE GOLD MEDAL IN THE 10-THOUSAND METERS (31:32:92), AND CARLA SACRAMENTO OF PORTUGAL CAPTURED THE GOLD IN THE 15-HUNDRED (4:04.24).

    THE UNITED STATES REMAINS ATOP THE MEDALS TABLE WITH A TOTAL OF 10, INCLUDING THREE GOLD. UKRAINE HAS FOUR MEDALS AND GERMANY AND RUSSIA HAVE THREE APIECE. (SIGNED)
    NEB/SS/GKT/LWM
    05-Aug-97 4:58 PM EDT (2058 UTC)
    NNNN
    Source: Voice of America


    [04] BOSNIA / GERMANY (S-ONLY) BY KYLE KING (BONN)

    DATE=8/5/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-218122
    CONTENT=
    VOICED AT:

    // RE-RUNNING WITH CORRECT SPELLING OF TOWN -- JAJCA //

    INTRO: THE GERMAN GOVERNMENT HAS CUT OFF AID TO A CROAT-CONTROLLED TOWN IN BOSNIA, AFTER LOCAL RESIDENTS DROVE AWAY MUSLIMS TRYING TO RETURN HOME. V-O-A'S KYLE KING REPORTS.

    TEXT: GERMAN FOREIGN MINISTER KLAUS KINKEL CALLED THE EXPULSION OF 300 MUSLIMS FROM THE TOWN OF JAJCA A SLAP IN THE FACE FOR PEACE EFFORTS IN BOSNIA.

    IN A STATEMENT RELEASED IN BONN, MR. KINKEL SAID DERANGED FANATICS CANNOT BE ALLOWED TO ENDANGER WHAT HAS ALREADY BEEN ACHIEVED.

    HE SAID GERMANY IS SUSPENDING 500-THOUSAND DOLLARS IN PROMISED RECONSTRUCTION AID TO JAJCA, AND HE EXPECTED CROATIAN PRESIDENT FRANJO TUDJMAN TO CONDEMN RECENT EVENTS THERE.

    //OPT//

    BOSNIAN TELEVISION SAYS ONE MAN DIED WHEN HIS HOUSE WAS BURNED DOWN AS A CROWD OF BOSNIAN CROATS DROVE THE 300 MUSLIMS FROM THEIR HOMES ON SATURDAY AND SUNDAY. //END OPT//

    ALTHOUGH THE DAYTON PEACE AGREEMENT CALLS FOR THE RETURN OF BOSNIAN REFUGEES TO THEIR PRE-WAR HOMES, FEW OF THE MORE THAN ONE-MILLION DISPLACED PEOPLE HAVE BEEN ABLE TO DO SO. (SIGNED)
    NEB/KBK/PCF/RRM
    05-Aug-97 11:01 AM EDT (1501 UTC)
    NNNN
    Source: Voice of America


    [05] BULGARIA MONEY BY BARRY WOOD (WASHINGTON)

    DATE=8/5/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-218156
    CONTENT=
    VOICED AT:

    INTRO: BULGARIA'S NEW FIXED RATE EXCHANGE SYSTEM IS OFF TO AN IMPRESSIVE START AS INFLATION AND INTEREST RATES HAVE BEEN FALLING SHARPLY. BARRY WOOD SPOKE TO THE AMERICAN ECONOMIST WHO ADVISED THE BULGARIANS ON SETTING UP THEIR NEW MONETARY SYSTEM WHICH WAS INTENDED TO HELP REACTIVATE A DEVASTATED ECONOMY.

    TEXT: THE BULGARIANS ON JULY FIRST ADOPTED A RIGID MONETARY SYSTEM THAT LINKS THEIR BATTERED CURRENCY, THE LEV, TO THE STRONG GERMAN MARK. UNDER WHAT IS KNOWN AS A CURRENCY BOARD SYSTEM THE BULGARIANS HAVE GIVEN UP DAY TO DAY CONTROL OF MONETARY POLICY. THEY CAN INCREASE THE DOMESTIC MONEY SUPPLY ONLY IF THEY HAVE MARKS OR OTHER HARD CURRENCIES IN RESERVE.

    STEVE HANKE, AN ECONOMICS PROFESSOR AT JOHNS HOPKINS UNIVERSITY, IS DELIGHTED THAT THE SYSTEM IS OFF TO A SMOOTH START.

    /// FIRST HANKE ACT ///

    SO FAR SO GOOD IN BULGARIA. INTEREST RATES HAVE LITERALLY COLLAPSED AS A RESULT OF PUTTING IN THE CURRENCY BOARD AND LINKING TO THE DEE MARK. AND INFLATION IS COMING DOWN SHARPLY. I THINK THE BASIS FOR ECONOMIC STABILITY HAS BEEN PLANTED WITH THE CURRENCY BOARD SYSTEM.

    /// END ACT ///

    INFLATION, WHICH REACHED SEVERAL HUNDRED PERCENT (ANNUALLY) EARLIER THIS YEAR IS DOWN SHARPLY. PRICES ARE EXPECTED TO RISE BY NO MORE THAN TWO PERCENT A MONTH BY THE END OF THE YEAR. MR. HANKE, WHO ADVISES PRESIDENT PETAR STOYANOV, SAYS THE PRINCIPAL TASKS FACING THE NEW CENTER RIGHT GOVERNMENT IS PRIVATIZATION AND THE RESTRUCTURING OF THE AGRICULTURAL SECTOR, PARTICULARLY A STRENGTHENING OF PRIVATE PROPERTY RIGHTS. BUT MR. HANKE IS HOPEFUL THAT THE SHARP ECONOMIC DOWNTURN IS OVER AND THAT A FOUNDATION HAS BEEN LAID FOR RENEWED GROWTH.

    /// SECOND HANKE ACT ///

    UNDER THE BEST CASE SCENARIO YOU'RE GOING TO SEE SOME POSITIVE REAL GROWTH SOMETIME IN 1998. I DON'T (KNOW) WHAT QUARTER (OF THE YEAR) BUT SOMETIME NEXT YEAR.

    /// END ACT ///

    THE INTERNATIONAL MONETARY FUND RECENTLY RELEASED THE FIRST INSTALLMENT OF A LARGE 657 MILLION DOLLAR LOAN TO BULGARIA. MAJOR STATE ENTERPRISES ARE IN THE PROCESS OF BEING PRIVATIZED. AND GOVERNMENT SPENDING IS BEING SLASHED IN ORDER TO CLOSE A STILL LARGE BUDGET DEFICIT. (SIGNED)
    NEB/BDW/LWM
    05-Aug-97 6:03 PM EDT (2203 UTC)
    NNNN
    Source: Voice of America


    [06] EURO STOCKS (S-ONLY) BY PAUL FRANCUCH (LONDON)

    DATE=8/5/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-218141
    CONTENT=
    VOICED AT:

    INTRO: STOCK MARKETS IN WESTERN EUROPE ENDED THE TRADING DAY MIXED ON TUESDAY. FOR THE CLOSING FIGURES, HERE'S PAUL FRANCUCH IN LONDON.

    TEXT: GOOD NEWS ON CORPORATE EARNINGS HELPED DRIVE THE LONDON "FINANCIAL TIMES" 100 INDEX UP 65 POINTS -- THIS, DESPITE REPORTS THE BRITISH GOVERNMENT WILL RAISE INTEREST RATES AGAIN SOON. FEARS OF HIGHER INTEREST RATES IN GERMANY WERE CITED AS A FACTOR IN THE FRANKFURT "DAX 30" DROPPING MORE THAN 100 POINTS ON MONDAY. BUT IT RECOVERED SOMEWHAT TUESDAY, CLOSING UP JUST UNDER SIX POINTS. IN PARIS, THE "CAC 40" STOCK INDEX WAS DOWN JUST OVER EIGHT POINTS AT THE CLOSE.

    IN CURRENCY TRADING, THE DOLLAR KEPT UP ITS ADVANCE AGAINST THE MARK, GAINING ANOTHER PFENNIGE-AND-A-HALF IN VALUE. THE AMERICAN CURRENCY ALSO GAINED A HALF-CENT AGAINST THE BRITISH POUND.

    GOLD LOST FOUR DOLLARS AN OUNCE WHEN TRADING CLOSED IN LONDON. THE PRICE WAS FIXED THEN AT 319-DOLLARS-85-CENTS. (SIGNED)
    NEB/PCF/RRM
    05-Aug-97 2:27 PM EDT (1827 UTC)
    NNNN
    Source: Voice of America


    [07] EUROPE / BOSNIA (L-ONLY) BY ART CHIMES (PRAGUE)

    DATE=8/5/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-218126
    CONTENT=
    VOICED AT:

    INTRO: THE PRESIDENCY OF THE EUROPEAN UNION TODAY (TUESDAY) CALLED ON MEMBER COUNTRIES TO JOIN THE UNITED STATES AND SEVERAL OTHER WESTERN COUNTRIES IN SUSPENDING CONTACTS WITH AMBASSADORS FROM BOSNIA-HERZEGOVINA. V-O-A CORRESPONDENT ART CHIMES REPORTS FROM PRAGUE THAT THE INITIATIVE IS AIMED AT GETTING BOSNIA'S SERB, MUSLIM AND CROAT FACTIONS TO AGREE ON A SET OF AMBASSADORS TO REPRESENT WHAT IS SUPPOSED TO BE A SINGLE, UNIFIED GOVERNMENT IN SARAJEVO.

    TEXT: THE CURRENT PRESIDENT OF THE EUROPEAN UNION -- LUXEMBOURG HAS CALLED ON THE 15 E-U MEMBERS TO SUSPEND DIPLOMATIC CONTACTS WITH BOSNIA'S AMBASSADORS. THE ACTION COMES ONE DAY AFTER THE UNITED STATES SAID IT WOULD JOIN SEVERAL OF ITS EUROPEAN ALLIES IN SUSPENDING CONTACTS WITH THE BOSNIAN AMBASSADORS.

    IN A NEWS RELEASE, THE E-U PRESIDENCY MADE CLEAR IT IS NOT CALLING FOR A SUSPENSION OF DIPLOMATIC RELATIONS. RATHER, IT IS CALLING FOR A SUSPENSION OF CONTACTS WITH AMBASSADORS ONLY -- NOT OTHER BOSNIAN DIPLOMATS.

    NATO LEADERS AGREED IN MAY THAT IF BOSNIA'S NEW UNIFIED GOVERNMENT DID NOT APPOINT NEW AMBASSADORS BY AUGUST FIRST, THE INTERNATIONAL COMMUNITY'S HIGH REPRESENTATIVE WOULD RECOMMEND ACTION. THIS PAST SATURDAY (EDS: AUGUST SECOND), THE HIGH REPRESENTATIVE, CARLOS WESTENDORP, RECOMMENDED THE SUSPENSION OF DIPLOMATIC CONTACTS WITH THE HOLDOVER AMBASSADORS. BOSNIAN MUSLIMS, CROATS AND SERBS HAVE NOT BEEN ABLE TO AGREE ON HOW TO DIVIDE THE AMBASSADORSHIPS AMONG THEM.

    AMERICAN OFFICIALS MONDAY PRAISED MR. WESTENDORP'S PLAN TO PRESSURE THE BOSNIANS, BUT A SENIOR U-S OFFICIAL HAD LITTLE ELSE POSITIVE TO SAY ABOUT THE HIGH REPRESENTATIVE. SPEAKING ON CONDITION OF ANONYMITY, THE OFFICIAL SAID MR. WESTENDORP HAS SPENT TOO LITTLE TIME IN THE REGION.

    BUT MR. WESTENDORP'S SPOKESMAN, SIMON HASELOCK, REJECTED THE CRITICISM.

    // HASELOCK ACTUALITY //

    I THINK TO ACTUALLY ATTACK A SENIOR DIPLOMAT WHO HAS ACTUALLY BEEN IN POSITION FOR SIX WEEKS OR SO, WHEN PART OF THE VERY JOB THAT HE'S UNDERTAKING HERE IS TO GET IN AMONGST THE CAPITALS OF THE WORLD AND TRAVEL TO GET TO KNOW THEM AND TO GET INVOLVED WITH THEM, MEANS BY NATURE, HE'S GOING TO BE OUT OF THE COUNTRY FOR SOME TIME ... SO I THINK IT'S A PRETTY CHEAP SHOT.

    // END ACTUALITY //

    MEANWHILE, HEADING TO BOSNIA LATER THIS WEEK IS AN AMERICAN TEAM, INCLUDING ROBERT GELBARD AND RICHARD HOLBROOKE, WHO BROKERED THE DAYTON PEACE AGREEMENT. THEY'RE SCHEDULED TO MEET WITH BOSNIAN OFFICIALS, PLUS CROATIAN PRESIDENT FRANJO TUDJMAN AND YUGOSLAV PRESIDENT SLOBODAN MILOSEVIC. THEY'RE AFTER WHAT ONE SENIOR U-S ADMINISTRATION OFFICIAL CALLS "A BIG BREAKTHROUGH" -- CONCRETE ACTION ON IMPLEMENTING THE 1995 DAYTON AGREEMENT. (SIGNED)
    NEB/ART/PCF/RRM
    05-Aug-97 11:14 AM EDT (1514 UTC)
    NNNN
    Source: Voice of America

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

    DATE=8/5/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-218151
    CONTENT=
    VOICED AT:

    INTRO: STOCK PRICES IN THE UNITED STATES WERE MIXED TODAY (TUESDAY), ALTHOUGH THERE WAS SOME RENEWED INTEREST IN TECHNOLOGY STOCKS. CORRESPONDENT BRECK ARDERY REPORTS FROM NEW YORK.

    TEXT: THE DOW JONES INDUSTRIAL AVERAGE CLOSED AT 81 HUNDRED 87, DOWN 10 POINTS. THE LARGER STANDARD AND POOR'S 500 INDEX CLOSED AT 952, UP TWO POINTS.

    ANALYSTS SAY THERE APPEARED TO BE A SHIFT OUT OF SOME LARGE COMPANY STOCKS AND INTO SMALLER FIRMS, ESPECIALLY THOSE INVOLVED IN HIGH TECHNOLOGY.

    AN INDEX OF LEADING U-S ECONOMIC INDICATORS WAS UNCHANGED IN JUNE, SIGNALING CONTINUED SLOW BUT STEADY GROWTH.

    THE STRIKE AT THE UNITED PARCEL SERVICE, THE LARGEST PACKAGE DELIVERY COMPANY IN THE UNITED STATES, WAS IN ITS SECOND DAY WITH NO NEW NEGOTIATIONS SCHEDULED. THE STRIKE IS STARTING TO CAUSE PROBLEMS, ESPECIALLY WITH AMERICAN CATALOG RETAIL COMPANIES WHICH ARE FINDING THAT COMPETING DELIVERY SERVICES CAN HANDLE ONLY A FRACTION OF UNITED PARCEL'S DAILY VOLUME OF 12 MILLION PACKAGES.

    /// REST OPT ///

    THE STOCK OF THE AETNA (ET-NA) INSURANCE COMPANY LOST ABOUT 10 PERCENT OF ITS VALUE AFTER THE COMPANY REPORTED DISAPPOINTING QUARTERLY EARNINGS. AETNA SAYS HIGHER EXPENSES IN ITS PRIMARY HEALTH CARE BUSINESS WAS THE REASON FOR THE DROP. VIACOM, THE ENTERTAINMENT CONGLOMERATE, REPORTED A 217 MILLION DOLLAR LOSS IN THE SECOND QUARTER, PRIMARILY BECAUSE OF ITS POORLY PERFORMING BLOCKBUSTER VIDEO RENTAL BUSINESS.

    BUT THERE WERE SOME POSITIVE EARNINGS SURPRISES. K-L-M, THE DUTCH AIRLINE, REPORTED BETTER-THAN-EXPECTED PROFITS. AND THE STOCK OF THE BRITISH PETROLEUM COMPANY ROSE ON NEWS OF A 14 PERCENT JUMP IN QUARTERLY EARNINGS.

    THE FORD MOTOR COMPANY SAYS ITS NORTH AMERICAN SALES OF CARS AND LIGHT TRUCKS ROSE BY FIVE PERCENT IN JULY. HOWEVER, THE SALES OF FORD'S POPULAR TAURUS MODEL CAR FELL ALMOST 12 PERCENT, PUTTING IT FURTHER BEHIND THE TOYOTA CAMRY AS THE BEST-SELLING CAR IN THE UNITED STATES. (SIGNED) NEB/NY/BA/LSF/LWM
    05-Aug-97 4:55 PM EDT (2055 UTC)
    NNNN
    Source: Voice of America


    [09] TUDJMAN INAUGURATED (S-ONLY) BY ART CHIMES (PRAGUE)

    DATE=8/5/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-218132
    CONTENT=
    VOICED AT:

    INTRO: CROATIAN PRESIDENT FRANJO TUDJMAN HAS BEEN SWORN-IN FOR ANOTHER FIVE-YEAR TERM. V-O-A CORRESPONDENT ART CHIMES REPORTS MR. TUDJMAN FACES CONSIDERABLE DIFFICULTIES IN GOVERNING HIS INCREASINGLY ISOLATED COUNTRY.

    TEXT: AT THE INAUGURATION CEREMONY, FRANJO TUDJMAN TALKED ABOUT CROATIA'S ROLE IN THE INTERNATIONAL COMMUNITY. BUT IN FACT, CROATIA IS UNDER CONTINUING CRITICISM FOR PRESIDENT TUDJMAN'S AUTOCRATIC RULE AND ZAGREB'S FAILURE TO PRESSURE BOSNIAN CROATS TO FULFILL THEIR OBLIGATIONS UNDER THE DAYTON PEACE AGREEMENT.

    THE PRESSURE WILL CONTINUE WEDNESDAY WHEN MR. TUDJMAN MEETS A U-S NEGOTIATING TEAM THAT IS SEEKING A BREAKTHROUGH ON IMPLEMENTATION OF THE DAYTON DEAL.

    MR. TUDJMAN WAS RE-ELECTED IN JUNE WITH BROAD POPULAR SUPPORT. BUT THE ELECTIONS WERE LABELED UNFAIR BY INTERNATIONAL OBSERVERS BECAUSE OF THE HEAVY BIAS OF THE STATE-CONTROLLED MEDIA.

    MOST CROATIANS ARE STRUGGLING TO KEEP UP ECONOMICALLY, AND HELP FROM THE WORLD BANK AND THE INTERNATIONAL MONETARY FUND HAS BEEN DELAYED. (SIGNED)
    NEB/ART/JWH/RRM
    05-Aug-97 12:28 PM EDT (1628 UTC)
    NNNN
    Source: Voice of America


    [10] TUESDAY'S EDITORIALS BY GARY EDQUIST (WASHINGTON)

    DATE=08/05/97
    TYPE=U-S EDITORIAL DIGEST
    NUMBER=6-10282
    TELEPHONE=619-3940
    EDITOR=
    CONTENT=
    // EDITORS, PLEASE NOTE: THIS IS PERISHABLE MATERIAL AND BECOMES DATED AFTER 10 P-M E-D-T TUESDAY //

    INTRO: NEWSPAPER EDITORIAL COMMENT TUESDAY RANGES ACROSS A VARIETY OF TOPICS: DOUBT THAT CHINA SOON WILL BE JOINING THE WORLD TRADE ORGANIZATION; IRAN INAUGURATES A NEW PRESIDENT; THE ALLEGED MASTERMIND OF THE NEW YORK CITY'S WORLD TRADE CENTER BOMBING GOES ON TRIAL; AND NORTH AND SOUTH KOREA OPEN TALKS AS THEY SEARCH FOR AN ELUSIVE PEACE.

    NOW, HERE IS ______________________ WITH A CLOSER LOOK AND SOME QUOTES IN TODAY'S EDITORIAL DIGEST.

    TEXT: U-S TRADE OFFICIALS ARE EXPRESSING DOUBT THAT CHINA WILL GAIN MEMBERSHIP IN THE WORLD TRADE ORGANIZATION -- THE W-T-O -- THIS YEAR. THE NEW YORK TIMES CARRIED THAT STORY MONDAY, AND IN TUESDAY'S EDITON WROTE AN EDITORIAL ENTITLED "CHINA'S RESISTANCE TO FAIR TRADE." THE NEW YORK TIMES WRITES:

    VOICE: "THE CLINTON ADMINISTRATION HAS WISELY DECIDED THAT IT WOULD RATHER LET AN ARTIFICIAL DEADLINE - PRESIDENT JIANG ZEMIN'S VISIT TO WASHINGTON IN OCTOBER - SLIP THAN HASTILY INVITE CHINA INTO THE W-T-O ON THE WRONG TERMS. ... CHINA'S ECONOMY RELIES HEAVILY ON COMPANIES OWNED AND SUBSIDIZED BY THE STATE. ... THE CHINESE WOULD NEED TO MAKE GOVERNMENT SUBSIDIES EXPLICIT AND THEN AGREE TO PHASE THEM OUT AT A STEADY PACE. THAT COULD THROW HUGE NUMBERS OF CHINESE OUT OF WORK BEFORE A WELL-FUNCTIONING LABOR MARKET COULD STEER THEN INTO NEW JOBS."

    TEXT: [OPT] AN EDITORIAL IN NEWSDAY FROM LONG ISLAND, NEW YORK, SAYS, "PRESIDENT CLINTON SHOULD BE COMMENDED FOR DECIDING TO TAKE AN UNEXPECTEDLY TOUGH STAND ON CHINA." AND IT GOES ON TO SAY:

    VOICE: "IT IS THE RIGHT THING TO DO - EVEN IF [PRESIDENT] CLINTON WAS MOTIVATED BY THE SENATE PROBE INTO CAMPAIGN CONTRIBUTIONS. CHINA HAS STUBBORNLY REFUSED GIVING FOREIGN COMPANIES A LEVEL PLAYING FIELD WHILE EXPECTING FAVORABLE TREATMENT FOR ITS OWN EXPORTS FROM THE WEST."

    [END OPT]

    TEXT: IRAN INAUGURATED A NEW PRESIDENT MONDAY. HE IS MOHAMMAD KHATAMI, THE COUNTRY'S FORMER CULTURE MINISTER. THE SUN FROM BALTIMORE, MARYLAND, LABELS ITS EDITORIAL "IRAN'S MODERATE NEW PRESIDENT," BUT CAUTIONS READERS THAT THERE IS "NO ASSURANCE OF IMPROVING RELATIONS WITH WASHINGTON."

    VOICE: ""MOHAMMAD KHATAMI ... HAS A MANDATE FROM YOUNG AND FEMALE VOTERS TO WIDEN INDIVIDUAL FREEDOM AND EXPAND THE ECONOMY, WHICH HAS REMAINED STAGNANT WHILE THE POPULATION DOUBLED. HE CAN DO THAT BEST BY AVOIDING CRISES OR WAR AND CUTTING DOWN ON DEMONIC ENEMIES. HE NEEDS FOREIGN INVESTMENT TO EXPAND THE ECONOMY, INCLUDING THE OIL INDUSTRY, AND FOR THAT HE NEEDS A CLIMATE TOLERANT OF FOREIGNERS. ... THE UNITED STATES SHOULD KEEP CHANNELS OPEN, BUT NOT COUNT ON ACCOMMODATION."

    TEXT: IN NEW YORK CITY, THE TRIAL OF THE ACCUSED MASTERMIND OF THE 1993 WORLD TRADE CENTER BOMBING WAS TO BEGIN MONDAY, BUT WAS DELAYED FOR ONE DAY DUE TO A SICK JUROR. THIRTY-YEAR-OLD RAMZI YOUSEF AND A MAN NAMED AS HIS ACCOMPLICE ARE ACCUSED OF DRIVING AN EXPLOSIVES-LADEN VAN INTO THE TRADE CENTER'S UNDERGROUND PARKING GARAGE. THE BLAST KILLED SIX PEOPLE, INJURED MORE THAN ONE-THOUSAND, AND CAUSED MORE THAN 500-MILLION DOLLARS IN DAMAGE. AS THE TRIAL GETS UNDERWAY, THE NEW YORK DAILY NEWS HAS THIS COMMENT:

    VOICE: "HAUNTING EVERYTHING IS THE PERCEPTION THAT THE FEDERAL GOVERNMENT CAN'T - OR WON'T - DO EVERYTHING POSSIBLE TO PROTECT US FROM TERROR. IF THE ASSAULT ON A SYMBOL OF THIS NATION'S GREATEST CITY, IF THE BUTCHERED BABIES OF OKLAHOMA, COULD NOT MOVE OUR 'GUARDIANS' TO ACTION, ONE WONDERS JUST WHAT HORROR IS REQUIRED? PRAY THAT WE DON'T HAVE TO FIND OUT."

    TEXT: OFFICIALS FROM THE UNITED STATES, CHINA, NORTH KOREA, AND SOUTH KOREA MEET TODAY (TUESDAY) // ARE MEETING // FOR TALKS AIMED AT FORGING A PERMANENT PEACE ON THE DIVIDED KOREAN PENINSULA. DIPLOMATS WILL GATHER AT NEW YORK CITY'S COLUMBIA UNIVERSITY TO SET A DATE, TIME, PLACE, AND AGENDA FOR THE OPENING OF FORMAL PEACE TALKS. ACHIEVING A LASTING KOREAN PEACE IS "A WORTHY GOAL," WRITES THE WALL STREET JOURNAL, BUT WARNS IN ITS EDITORIAL THAT "MORE ILL THAN GOOD COULD COME FROM THE INTERNATIONAL CONFAB [MEETING] AT COLUMBIA." THE EDITORIAL CONTINUES:

    VOICE: "SUCH PESSIMISM IS ROOTED NOT ONLY IN THE SUSPICION THAT THE FOUR PARTIES HAVE DIFFERENT AGENDAS, OR IN RESIGNATION TO THE FACT THAT 'PEACE TALKS' AND 'PEACE PROCESSES' DISAPPOINT MORE OFTEN THAN NOT. THE SKEPTICISM IS ALSO BORN OF THE UNDERSTANDING THAT TRUE AND LASTING PEACE WILL EVADE THAT STRATEGIC BUT TRAGIC PENNINSULA UNTIL IT RIDS ITSELF OF THE BIZARRE COMMUNIST DYNASTY THAT RULES ITS NORTHERN HALF, AND THAT SUCH AN END WILL NOT BE DECIDED BY COMMITTEE."

    TEXT: WITH THAT, WE CONCLUDE THIS BRIEF SAMPLING OF COMMENT FROM TUESDAY'S U-S PRESS.
    NEB/GE/RRM
    05-Aug-97 10:44 AM EDT (1444 UTC)
    NNNN
    Source: Voice of America


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