Voice of America, 97-11-28

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

CONTENTS

[01] BOSNIA-NATO PREVIEW BY JIM RANDLE (PENTAGON)

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

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

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

[01] BOSNIA-NATO PREVIEW BY JIM RANDLE (PENTAGON)

INTRO: THE NEXT STEP IN BOSNIA AND THE PLANNED GROWTH OF NATO ARE AMONG THE ISSUES AS TOP U-S AND EUROPEAN DEFENSE OFFICIALS GATHER (EDS: TUESDAY) EARLY NEXT WEEK IN BRUSSELS. V-O-A'S JIM RANDLE REPORTS FROM THE PENTAGON.

TEXT: U-S DEFENSE SECRETARY WILLIAM COHEN SAYS THERE IS A DEVELOPING CONSENSUS THAT SOME FORM OF INTERNATIONAL MILITARY PRESENCE WILL BE NEEDED IN BOSNIA-HERZGOVINIA PAST JUNE OF NEXT YEAR. BUT HE SAYS THERE'S BEEN NO DECISION MADE AND NO CONSENSUS ON WHAT THAT INTERNATIONAL PRESENCE WILL BE.

THE CURRENT "S-FOR" -- OR STABILIZATION FORCE -- IS SUPPOSED TO KEEP BOSNIA'S ARMED AND ANGRY FACTIONS SEPARATED LONG ENOUGH TO REBUILD SOME HOMES, SCHOOLS, AND BUSINESSES AND MAKE A START ON A FUNCTIONING CIVIL SOCIETY.

BUT S-FOR'S ASSIGNMENT ENDS EARLY NEXT SUMMER AND THE TASK APPEARS UNFINISHED. MEANTIME, AMERICAN MILITARY PARTICIPATION HAS NEVER BEEN POPULAR WITH THE U-S CONGRESS OR THE AMERICAN PUBLIC.

EARLY IN NOVEMBER, SECRETARY COHEN SAID NO DECISION HAS BEEN MADE ON WHETHER U-S TROOPS WILL PARTICIPATE AND IF SO, IN WHAT CAPACITY. HE SAID AMERICANS MIGHT CONTRIBUTE INTELLIGENCE, LOGISTICS OR OTHER SUPPORT.

A SENIOR DEFENSE OFFICIAL NOW SAYS U-S POLICY IN THIS AREA REMAINS A "WORK IN PROGRESS," AND ADDS U-S OFFICIALS ARE NOT READY TO TALK TO THEIR COUNTERPARTS ABOUT DETAILS LIKE TROOP LEVELS OR ASSIGNMENTS.

THE OFFICIAL, WHO ASKED NOT TO BE NAMED, SAID THE DISCUSSIONS IN BRUSSEL WILL ALSO COVER THE COSTS OF EXPANDING NATO TO NEW MEMBERS, AND A REPORT ON THE MILITARY REQUIREMENTS FOR THESE NATIONS. LATER, SECRETARY COHEN FLYS TO LONDON FOR TALKS WITH HIS BRITISH COUNTERPART. THE SENIOR DEFENSE OFFICIAL SAYS THE SITUATION IN IRAQ WILL BE AMONG THE TOPICS. (SIGNED)
NEB/PT
28-Nov-97 3:53 PM EST (2053 UTC)
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Source: Voice of America

[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: PRICES MOVED HIGHER IN PARIS. BUT THE MARKETS IN BOTH FRANKFURT AND LONDON CLOSED DOWN -- DESPITE A STRONG OPENING ON WALL STREET IN PARIS, THE CAC-40 INDEX ROSE MORE THAN 30 POINTS, JUST OVER ONE PERCENT OF THE PARIS MARKET'S TOTAL VALUE.

BUT IN FRANKFURT, THE DAX-30 INDEX ENDED THE FLOOR TRADING DAY OFF ALMOST FIVE POINTS, JUST OVER ONE-TENTH PERCENT.

AND IN LONDON, THE FOOTSIE-100 INDEX WAS DOWN MORE THAN 57 POINTS, MORE THAN ONE PERCENT.

ON THE LONDON CURRENCY EXCHANGE, THE U-S DOLLAR GAINED IN VALUE AGAINST THE JAPANESE YEN. BUT THE DOLLAR LOST VALUE AGAINST THE GERMAN MARK AND THE BRITISH POUND. (SIGNED)
NEB/JWH/MMK
28-Nov-97 1:51 PM EST (1851 UTC)
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Source: Voice of America

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

INTRO: THE INTERNATIONAL AIDS EPIDEMIC; A TREATY TO BAN BRIBERY; AND GROWING TROUBLE FOR THE U-S LABOR MOVEMENT ARE SOME OF THE TOPICS ON THE EDITORIAL PAGES OF AMERICAN NEWSPAPERS. NOW, HERE WITH A CLOSER LOOK AND SOME QUOTES, IS __________________ AND TODAY'S U-S EDITORIAL DIGEST.

TEXT: NEARLY 30 MILLION PEOPLE WORLDWIDE ARE INFECTED WITH THE VIRUS THAT CAUSES AIDS, ACCORDING TO A WORLD HEALTH ORGANIZATION AND UNITED NATIONS REPORT ISSUED (THIS WEEK, WEDS., 11/26) IN ADVANCE OF WORLD AID DAY (MONDAY, DEC. 1). THE EPIDEMIC IS MORE SERIOUS THAN PREVIOUSLY THOUGHT. TWO-THIRDS OF THE WORLD'S VICTIMS LIVE IN SUB-SAHARAN AFRICA, AND MOST OF THEM ARE UNDER AGE 25. NEWSDAY (LONG ISLAND, NEW YORK) WRITES THAT "IN DEVELOPING NATIONS, AIDS IS STILL RUNNING WILD."

VOICE: IN THE UNITED STATES, THERE IS A PALPABLE SENSE THAT THE WORST IS OVER.... NEW (U-S) CASES OF SYMPTOMATIC AIDS DECREASED LAST YEAR BY SIX PERCENT FOR THE FIRST TIME EVER. THEY'RE EXPECTED TO FALL EVEN MORE THIS YEAR.... BUT THE WORST ISN'T OVER, AT LEAST NOT FOR PEOPLE WHO LIVE IN MUCH OF THE DEVELOPING WORLD.... BUT IN THE ABSENSE OF A CURE OR A VACCINE, YEARS AWAY AT BEST, AIDS WILL CONTINUE TO INFLICT UNTHINKABLE MISERY ON THE DEVELOPING WORLD.

TEXT: THE WASHINGTON POST WRITES THAT 20 YEARS AGO, THE UNITED STATES PASSED THE "FOREIGN CORRUPT PRACTICES ACT" BARRING U-S FIRMS FROM PAYING BRIBERY OVERSEAS. THE POST SAYS MANY THOUGHT THE LAW WAS "HOPELESSLY NAIVE."

VOICE: WELL, IT'S TAKEN AWHILE, BUT IT SEEMS AS THOUGH THE REST OF THE WORLD IS FINALLY CATCHING UP WITH THE UNITED STATES ON THIS ONE. THE 29 INDUSTRIALIZED NATIONS OF THE ORGANIZATION FOR ECONOMIC COOPERATION AND DEVELOPMENT, ALONG WITH FIVE ADDITIONAL COUNTRIES ... COMPLETED A TREATY THAT WILL REQUIRE ALL SIGNATORIES TO BAN OVERSEAS BRIBES.... THE NEW ANTI-BRIBERY TREATY REPRESENTS AN ACKNOWLEDGEMENT THAT CORRUPTION IS A GROWING PROBLEM AND ONE THAT HURTS ALMOST EVERYONE INVOLVED.

TEXT: A FEDERAL PANEL INVESTIGATING CORRUPTION WITHIN THE TEAMSTERS UNION BROUGHT CHARGES THIS WEEK (TUES. 11/25) AGAINST UNION PRESIDENT RON CAREY. HE IS ACCUSED OF USING UNION FUNDS TO FINANCE HIS CAMPAIGN FOR LEADERSHIP OF THE POWERFUL UNION. MR. CAREY DENIES THE CHARGES. HE ALSO ANNOUNCED THAT HE WOULD TAKE A LEAVE OF ABSENCE. THE ATLANTA (GEORGIA) CONSTITUTION SAYS IT IS "TIME FOR THE TEAMSTERS TO START OVER."

VOICE: JUST THIS SUMMER, THE TEAMSTERS WERE ON A ROLL. PRESIDENT RON CAREY, A UNION REFORMER, HAD BEEN RE-ELECTED, AND THE WORKERS AT UNITED PARCEL SERVICE WERE WINNING THEIR BATTLE FOR A BETTER CONTRACT AND AN IMPROVED IMAGE IN THE MEDIA. BUT NOW, THE TEAMSTERS' WHEELS ARE COMING OFF (I.E., THEY ARE HAVING SERIOUS PROBLEMS). THE UNION IS IN SO MUCH TROUBLE THAT ITS ONE-POINT-FOUR MILLION MEMBERS OUGHT TO CONSIDER DISBANDING AND REORGANIZING UNDER A DIFFERENT NAME WITH NEW LEADERS. THE EXISITING ORGANIZATION DOES NOT DESERVE THE DUES IT COLLECTS FROM MEMBERS.

TEXT: THE NEW YORK TIMES WRITES THAT "THREE MONTHS AFTER TRIUMPHING IN THE UNITED PARCEL SERVICE STRIKE, THE LABOR MOVEMENT IS REELING FROM THE CORRUPTION CHARGES AGAINST THE TEAMSTERS' UNION." THE TIMES ADDS:

VOICE: THIS IS A PAINFUL MOMENT FOR THE UNION CAUSE, BUT ITS COMMANDERS WOULD BE MISTAKEN TO HUNKER DOWN AND BELITTLE THE CHARGES AGAINST THEM. ONLY BY COOPERATING FULLY WITH INVESTIGATORS CAN THEY REDEEM THE PROMISE OF A REBORN LABOR MOVEMENT.

TEXT: WITH THAT COMMENT FROM THE NEWS YORK TIMES, WE CONCLUDE THIS BRIEF SAMPLING OF TODAY'S EDITORIALS FROM THE U-S PRESS.
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28-Nov-97 12:00 PM EST (1700 UTC)
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Source: Voice of America

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

INTRO: STOCK PRICES IN THE UNITED STATES WERE UP TODAY (FRIDAY) IN AN ABBREVIATED TRADING SESSION. V-O-A CORRESPONDENT BRECK ARDERY REPORTS FROM NEW YORK.

TEXT: THE DOW JONES INDUSTRIAL AVERAGE CLOSED AT 78 HUNDRED 23, UP 28 POINTS. FOR THE WEEK, THE INDUSTRIAL AVERAGE LOST 58 POINTS. THE STANDARD AND POOR'S 500 INDEX CLOSED FRIDAY AT 955, UP THREE POINTS.

VOLUME ON THE NEW YORK STOCK EXCHANGE WAS EXTREMELY LOW AT 190 MILLION SHARES. THAT WAS BECAUSE THE EXCHANGE CLOSED THREE HOURS EARLY AND MANY TRADERS DID NOT EVEN SHOW UP. FRIDAY, THE DAY AFTER THE THANKSGIVING DAY HOLIDAY IS NOT AN OFFICIAL HOLIDAY, BUT MANY PEOPLE TAKE THE DAY OFF ANYWAY. SOME OF THE TRADERS WHO DID COME TO WORK AT THE NEW YORK STOCK EXCHANGE BROUGHT THEIR CHILDREN.

THE DAY AFTER THANKSGIVING IS THE TRADITIONAL START OF THE CHRISTMAS SHOPPING SEASON IN THE UNITED STATES. ANALYSTS ARE DIVIDED ON THE OUTLOOK FOR HOLIDAY SALES. ONE SURVEY INDICATES AMERICANS WILL SPEND AN AVERAGE OF 13 PERCENT LESS THIS YEAR COMPARED TO LAST YEAR'S HOLIDAY BUYING. BUT OTHER RESEARCH SHOWS SALES WILL BE AT LEAST AS STRONG AS LAST YEAR AND PERHAPS MODESTLY HIGHER.

CONSUMER SPENDING ROSE IN OCTOBER BY AN UNEXPECTEDLY STRONG ONE-HALF OF ONE PERCENT. ANALYSTS SAY A STRONG U-S JOB MARKET AND A RISE IN INCOMES WERE THE MAIN FACTORS IN THE INCREASE.

THE FORD MOTOR COMPANY SAYS IT WILL EXPAND ITS PRODUCTION IN INDIA AND PLANS TO MAKE INDIA A MAJOR BASE FOR EXPORTS ESPECIALLY TO ASIA. FORD OFFICIALS SAY THE CURRENT FINANCIAL PROBLEMS IN MANY ASIAN NATIONS WILL NOT AFFECT THE COMPANY'S INVESTMENT PLANS IN THE REGION.

THE TRAVELER'S FINANCIAL SERVICES COMPANY HAS COMPLETED ITS NINE BILLION DOLLAR ACQUISITION OF SALOMON, THE HUGE U-S BOND TRADING FIRM.

ANALYSTS SAY THE CONSOLIDATION IN THE U-S BANKING INDUSTRY IS DEFINITELY NOT OVER. ON FRIDAY, SHARES OF THE DEPOSIT GUARANTY COMPANY IN THE STATE OF MISSISSIPPI GAINED ABOUT 15 PERCENT BECAUSE OF RUMORS IT WILL SOON BE THE TARGET OF A TAKEOVER ATTEMPT. (SIGNED) NEB/NY/BA/LSF/MMK
28-Nov-97 2:44 PM EST (1944 UTC)
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Source: Voice of America

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