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Voice of America, 97-10-20

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

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


CONTENTS

  • [01] BOSNIA BROADCASTS (S ONLY) BY ART CHIMES (PRAGUE)
  • [02] CYPRUS/STOLEN ART (L-ONLY) BY GILLIAN SHARPE (THE HAGUE)
  • [03] EURO STOCKS (S-ONLY) BY PAUL FRANCUCH (LONDON)
  • [04] MONDAY'S EDITORIALS BY ANDREW N. GUTHRIE (WASHINGTON)
  • [05] N-Y ECON WRAP (S & L) BY MAX RUSTON (NEW YORK)
  • [06] RUSSIA / SOROS (L-ONLY) BY MICHELE KELEMEN (MOSCOW)
  • [07] TURKEY / RUSSIA TRADE BY KYLE KING (INSTANBUL)

  • [01] BOSNIA BROADCASTS (S ONLY) BY ART CHIMES (PRAGUE)

    DATE=10/20/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-221461
    CONTENT=
    VOICED AT:

    INTRO: A BROADCAST TRANSMITTER USED BY BOSNIAN-SERB HARDLINERS HAS BEEN DAMAGED BY AN EXPLOSION, AS NATO FORCES AGAIN USE AN AIRBORNE TELEVISION STATION. V-O-A CORRESPONDENT ART CHIMES IS FOLLOWING THE STORY FROM OUR BUREAU IN PRAGUE.

    TEXT: AN EXPLOSION IN THE BOSNIAN-SERB TOWN OF BIJELJINA EARLY MONDAY DAMAGED A BROADCAST STATION. OFFICIALS SAY THE CAUSE IS UNKNOWN AND COULD HAVE RESULTED FROM THE FAULTY INSTALLATION OF EQUIPMENT. THE STATION HAD BEEN USED BY BOSNIAN-SERB HARDLINERS BASED IN PALE.

    NATO FORCES ARE NOW USING A SPECIALLY-MODIFIED AIRPLANE TO SEND A MESSAGE TO BOSNIAN SERBS. THE TRANSMISSION, ON A CHANNEL USED BY THE HARDLINERS, SAYS BROADCASTS FROM THE MORE MODERATE BOSNIAN SERBS HEADQUARTERED IN BANJA LUKA WILL RESUME -- AS SOON AS CONDITIONS ALLOW.

    EARLIER THIS MONTH, INTERNATIONAL FORCES SEIZED FOUR TELEVISION TRANSMITTERS TO STOP BROADCASTS BY THE HARDLINERS. LAST WEEK, A FIFTH HARDLINE STATION WENT ON THE AIR, BUT WENT OFF AS NATO TROOPS APPROACHED IT FOR INSPECTION.
    NEB/ART/PCF/RAE
    20-Oct-97 10:50 AM EDT (1450 UTC)
    NNNN
    Source: Voice of America


    [02] CYPRUS/STOLEN ART (L-ONLY) BY GILLIAN SHARPE (THE HAGUE)

    DATE=10/20/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-221471
    CONTENT=
    VOICED AT:

    INTRO: PRICELESS ART TREASURES STOLEN FROM THE OCCUPIED PART OF CYPRUS MORE THAN 20 YEARS AGO HAVE BEEN RECOVERED AND PUT ON DISPLAY IN THE HAGUE. THE UNDERCOVER OPERATION -- WHICH LED TO THE ARREST OF ONE MAN -- WAS SET UP BY A CONTROVERSIAL DUTCH ART DEALER, CYPRIOT DIPLOMATS AND THE INTERNATIONAL POLICE ORGANIZATION, "INTERPOL." GILLIAN SHARPE WENT TO SEE THE TREASURES UNVEILED.

    TEXT: SECURITY AT THE HAGUE'S "PALEIS" MUSEUM WAS TIGHT -- AND LITTLE WONDER. ON DISPLAY WAS A BYZANTINE MOSAIC COVERED WITH GOLD LEAF. THE EXHIBIT ALSO INCLUDES 32 FRESCOES. THE ART WORKS WERE LOOTED FROM CHURCHES AFTER THE 1974 TURKISH INVASION OF NORTHERN CYPRUS. THE MOSAIC ALONE HAS AN ESTIMATED VALUE OF EIGHT-POINT-SIX MILLION DOLLARS.

    ALL OF THE PIECES ARE DAMAGED. WHERE THEY WERE RIPPED FROM THE WALLS -- SOME ARE LITTLE MORE THAN FRAGMENTS. EVEN SO, THERE IS DELIGHT AT THEIR RETURN, AND FOR THE HONORARY GREEK CYPRIOT CONSUL IN THE HAGUE, TASOULA HADJITOFI, IT WAS THE END OF WHAT HAD BECOME A PERSONAL MISSION.

    ///HADJITOFI ACT///

    THE DESTRUCTION OF OUR CULTURE IS A CRIME, AND WE HAVE A MORAL RESPONSIBILITY TO ENSURE THAT THE ART IS RETURNED TO WHERE THEY BELONG TO -- THAT IS, THE PEOPLE OF CYPRUS.

    ///ENDS ACT///

    THE STORY BEHIND THE RECOVERY IS A BIZARRE ONE, INVOLVING LARGE SUMS OF MONEY, CHARTERED JETS, A "STING" (UNDERCOVER) OPERATION AND A CONTROVERSIAL DUTCH ART DEALER. MRS. HADJITOFI REFUSED TO NAME HIM, BUT HE HAS BEEN WIDELY IDENTIFIED IN THE MEDIA AS MICHEL VAN RIJN, WHO BY HIS OWN ADMISSION HAS BEEN INVOLVED IN MANY ILLEGAL ART DEALS. A FEW MONTHS AGO, HE ALLEGEDLY APPROACHED MRS. HADJITOFI AND OFFERED TO HELP NEGOTIATE THE SALE OF SOME OF THE TREASURES BACK TO THE CHURCH. THE CYPRIOTS PUT UP THE MONEY, THE ART WAS DELIVERED AND THE DEAL DONE IN THE BASEMENT OF A ROTTERDAM BANK.

    THE DUTCH ART DEALER THEN, COOPERATING WITH THE POLICE, INFORMED ON THE TURKISH MAN WITH WHOM HE HAD ALLEGEDLY BEEN DOING BUSINESS. TEN DAYS AGO, THAT MAN WAS ARRESTED IN MUNICH BY INTERPOL AND GERMAN POLICE. IN HIS POSSESSION -- STOLEN CYPRIOT ART WITH AN ESTIMATED VALUE OF 40-MILLION DOLLARS.

    THE TREASURE ALREADY RECOVERED IS TO BE RETURNED TO CYPRUS IN DECEMBER. ACCORDING TO MRS. HADJITOFI, IT WILL BE THE BEST CHRISTMAS THE PEOPLE OF CYPRUS HAVE HAD SINCE THE INVASION OF 1974. (SIGNED)
    NEB/GS/PCF/MMK
    20-Oct-97 12:54 PM EDT (1654 UTC)
    NNNN
    Source: Voice of America


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

    DATE=10/20/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-221481
    CONTENT=
    VOICED AT:

    INTRO: MAJOR STOCK MARKETS OF WESTERN EUROPE ALL CLOSED LOWER MONDAY -- 10-YEARS AFTER THE NOW-LEGENDARY "BLACK MONDAY" MARKET CRASH AROUND THE WORLD. BUT TODAY'S (MONDAY'S) NUMBERS WERE NOT ALL THAT BAD, AS PAUL FRANCUCH REPORTS FROM LONDON.

    TEXT: THERE WERE INDICATIONS IN LONDON THE MARKET WOULD TAKE A STEEP DIVE, DUE TO SUGGESTIONS BRITAIN WILL WAIT PERHAPS FIVE-YEARS BEFORE JOINING THE UPCOMING SINGLE EUROPEAN CURRENCY, AND BECAUSE A NEW SYSTEM OF STOCK TRADING BY COMPUTERS CAUSED JITTERS ABOUT UNPREDICTABLE PRICE SWINGS.

    LONDON OPENED WITH A FREE-FALL ON THE "FINANCIAL TIMES" 100 INDEX, DOWN AT ONE POINT ALMOST 120. BUT THE ZIG-ZAG PRICE MOVEMENT ENDED WITH SOME RECOVERY, AND THE "FOOTSIE" CLOSED WITH A LOSS OF 60 POINTS. THE DECLINES WERE NOT AS SEVERE IN PARIS OR FRANKFURT, WHERE THE "CAC 40" INDEX OF FRENCH STOCKS LOST 11-POINTS AND THE GERMAN "DAX 30" WAS OFF 21-POINTS.

    THE BRITISH POUND RALLIED AGAINST BOTH THE GERMAN MARK AND THE U-S DOLLAR. BUT THE AMERICAN CURRENCY REMAINED STEADY AGAINST THE MARK.

    THE LONDON CLOSING GOLD FIX WAS 325-DOLLARS-FIVE CENTS AN OUNCE VIRTUALLY UNCHANGED FROM FRIDAY. (SIGNED)
    NEB/PCF/RAE
    20-Oct-97 2:17 PM EDT (1817 UTC)
    NNNN
    Source: Voice of America


    [04] MONDAY'S EDITORIALS BY ANDREW N. GUTHRIE (WASHINGTON)

    DATE=10/20/97
    TYPE=U-S EDITORIAL DIGEST
    NUMBER=6-10401
    TELEPHONE=619-3335
    EDITOR=ASSIGNMENTS
    CONTENT=
    /// ED'S, PERISHABLE MATERIAL, DATED AFTER 10 P-M E-D-T MONDAY, OCTOBER 20 ///

    INTRO: THE AVOIDANCE OF A TRADE WAR BETWEEN THE UNITED STATES AND JAPAN IS A POPULAR TOPIC IN THE EDITORIALS COLUMNS THIS MONDAY. OTHER TOPICS UNDER CONSIDERATION INCLUDE: THE CAMPAIGN FINANCE INVESTIGATION; THE GOVERNING PHILOSOPHY IN BELARUS; THE UNITED NATIONS GETS A NEW HUMAN RIGHTS LEADER; THE BATTLE OVER GUNS IN AMERICA, AND SOME THOUGHTS ON THE PASSING OF AUTHOR JAMES MICHENER.

    NOW, HERE WITH A CLOSER LOOK IS _________________AND TODAY'S EDITORIAL DIGEST.

    TEXT: "THE SUN" IN BALTIMORE, A MAJOR EAST COAST PORT, IS COMMENTING ON THE TRADE DISPUTE INVOLVING JAPANESE SHIPPING COMPANIES THAT THREATENED TO DEVELOP INTO A TRADE WAR BETWEEN THE TWO NATIONS.

    VOICE: THE U-S MARITIME COMMISSION'S DECISION THURSDAY TO BAN JAPANESE CONTAINER SHIPS FROM AMERICAN PORTS AND SEIZE JAPANESE SHIPS HERE, UNTIL CERTAIN FINES ARE PAID, IS A SHOW OF FORCE INTENDED TO PRY OPEN JAPAN TO AMERICAN SHIPPING. ITS REAL EFFECT WAS TO CONCENTRATE MINDS IN WASHINGTON AND TOKYO, BUCKING A TECHNICAL DISPUTE TO THE HIGHEST POLITICAL LEVELS. THE INTENTION WAS NOT TO WRECK U-S/JAPANESE TRADE AND RELATIONS, BUT TO PROVOKE RECIPROCITY THROUGH BRINKMANSHIP. THIS APPEARED TO BE WORKING AT WEEK'S END. GETTING IT RIGHT WOULD ENCOURAGE FREER TRADE IN THE INTEREST OF BOTH NATIONS; MISCALCULATION COULD HARM BOTH, JAPAN'S STAGNANT ECONOMY MORE.

    TEXT: SEVERAL PAPERS ARE AGAIN COMMENTING ON ASPECTS OF THE POLITICAL FUND RAISING SCANDAL AND THE ISSUE OF SO-CALLED SOFT MONEY, CONTRIBUTIONS GIVEN NOT TO PARTICULAR CANDIDATES, ON WHICH THERE ARE LIMITS, BUT TO POLITICAL PARTIES FOR GENERIC ADVERTISING. SAYS "THE NEW YORK TIMES":

    VOICE: // OPT // WITH THE BATTLE OVER CAMPAIGN FINANCE REFORM LEGISLATION RESUMING IN WASHINGTON TODAY, OPPONENTS OF REFORM ARE AGAIN ARGUING THAT AMERICANS DO NOT MUCH CARE. MANY CITIZENS MAY NOT BE ABLE TO SEE HOW THEIR LIVES ARE AFFECTED BY ALL THOSE COFFEES, RECEPTIONS, TELEPHONE CALLS, FUND-RAISING LETTERS AND OTHER CAMPAIGN RITES. BUT // END OPT // ANY SUGGESTION THAT HUSTLING FOR DOLLARS HAS NO BEARING ON ORDINARY AMERICANS IS DISPELLED BY A NEW REPORT FROM COMMON CAUSE [A NATIONAL GOOD-GOVERNMENT LOBBYING GROUP] OUTLINING HOW THE OPEN-ENDED DONATIONS AT THE CENTER OF RECENT SCANDALS HAVE HAD A FAR-REACHING EFFECT ON GOVERNMENT. ...THE PRACTICE OF GIVING POLITICAL DONATIONS AND GETTING BENEFITS IS NEVER GOING TO BE ELIMINATED, BUT CONGRESS HAS A CHANCE TO IMPOSE SOME RESTRICTIONS. THE BEST MEANS WOULD BE...THE MCCAIN-FEINGOLD BILL... IF MEMBERS OF CONGRESS CARE AT ALL ABOUT THE DEEPENING CYNICISM OF AMERICANS TOWARD THEIR CORRUPT POLITICAL SYSTEM, THEY WILL APPROVE THE BILL.

    TEXT: "THE WASHINGTON POST" SINGLES OUT A SPECIFIC CAMPAIGN INFLUENCE PEDDLER, PETER KNIGHT, WHO MANAGED THE CLINTON-GORE CAMPAIGN, AND WHO ACTIVELY SOLICITED DONATIONS FROM A MASSACHUSETTS FIRM DOING BUSINESS WITH THE GOVERNMENT WHILE HE WAS ON THE COMPANY PAYROLL. AFTER THE DONATIONS, THE FIRM'S GOVERNMENT CONTRACT SWELLED FROM ONE-POINT-TWO MILLION DOLLARS IN 1994 TO 33-MILLION BY 1996 SAYS "THE POST" IN A MONDAY EDITORIAL THAT CONCLUDES:

    VOICE: THE CURRENT METHOD OF CAMPAIGN FINANCE IS ROTTEN, NOT SO MUCH BECAUSE THE STRUCTURE ALLOWS SUCH ROTTENNESS -- WHICH IT DOES -- AS BECAUSE SO MANY TAKE UNASHAMED ADVANTAGE OF IT.

    TEXT: TURNING TO INTERNATIONAL ISSUES, "THE WASHINGTON POST" HAS SOME HARSH WORDS FOR THE BELARUS GOVERNMENT OF ALEXANDER LUKASHENKO WHO RECENTLY SENT ITS FOREIGN MINISTER HERE TO MEND RELATIONS. BUT "THE POST" SAYS AS LONG AS MR. LUKASHENKO TRIES TO TURN THE NATION BACK INTO A STALINIST-LIKE STATE, RELATIONS WILL REMAIN SOUR.

    VOICE: THE UNITED STATES HAS REACTED TO THIS BACKSLIDING -- AND TO DIRECT PROVOCATIONS AGAINST U-S CITIZENS AND DIPLOMATS -- BY RESTRICTING CONTACT WITH THE MINSK GOVERNMENT WHILE TRYING TO MAINTAIN TIES TO BELEAGUERED DEMOCRATS. ...ONLY BY JOINING ITS NEIGHBORS IN THE MOVE TOWARD MORE OPEN SOCIETIES CAN BELARUS HOPE TO JOIN THEM AND THE REST OF THE INTERNATIONAL COMMUNITY IN OTHER WAYS.

    TEXT: "THE NEW YORK TIMES" IS CHEERING THE APPOINTMENT OF IRISH HUMAN RIGHTS LAWYER AND FORMER PRESIDENT OF IRELAND MARY ROBINSON AS THE NEW U-N HIGH COMMISSIONER FOR HUMAN RIGHTS, A RELATIVELY NEW POSITION AT THE WORLD BODY. AS IRISH PRESIDENT, SAYS "THE TIMES:"

    VOICE: ...THROUGH HER FORCEFUL SPEECHES ON HUMAN RIGHTS, CIVIL RIGHTS AND FEMINIST ISSUES, AND BY OPENING HER OFFICIAL RESIDENCE TO GROUPS SUCH AS THE HOMELESS, SHE REDEFINED THE OFFICE [OF PRESIDENT] AND HELPED MODERNIZE HER COUNTRY. THIS EXPERIENCE SHOULD SERVE HER WELL AS U-N HIGH COMMISSIONER FOR HUMAN RIGHTS, A JOB SHE BEGAN LAST MONTH. SHE WILL MANAGE A NETWORK OF SPECIAL REPRESENTATIVES AND RAPPORTEURS, WHO VISIT COUNTRIES WITH HUMAN RIGHTS PROBLEMS OR STUDY ISSUES LIKE TORTURE...BUT THE ONLY WEAPONS THESE OFFICES CAN USE TO PROTECT HUMAN RIGHTS ARE PUBLIC EXPOSURE AND U-N CONDEMNATION. IN SHORT, THE HIGH COMMISSIONER'S AUTHORITY IS MAINLY MORAL.

    // OPT //

    TEXT: NEW HAMPSHIRE'S "MANCHESTER UNION LEADER" TAKES EXCEPTION TO THE CLINTON ADMINISTRATION'S DEPLOYMENT OF TROOPS IN BOSNIA-HERZEGOVINA, AND THE NEW POLICY OF TAXING THEM FOR THE UNIFORMS AND SUPPLIES THEY BUY AT BASE STORES THERE. SUCH SALES USED TO BE TAX FREE. SAYS "THE UNION LEADER":

    VOICE: WHAT IS NEXT? WILL OUR GLORIOUS LEADER MAKE OUR SOLDIERS PAY FOR BULLETS AND THOSE ... MEALS READY TO EAT -- FIELD RATIONS? HOW ABOUT CHARGING G-I'S AIRFARE WHEN THEY'RE DEPLOYED ABROAD? MEANWHILE, AS THE SUPREME LEADER IS BUSY SQUANDERING OUR DEFENSE RESOURCES IN DISTANT BOSNIA, WHERE NO U-S NATIONAL INTEREST IS AT STAKE, WE ARE SPEEDILY EVACUATING THE PANAMA CANAL ZONE. ...AND AS WE SURRENDER CONTROL OF THIS VITAL INTERNATIONAL WATERWAY, RED CHINA IS MOVING IN RIGHT BEHIND US. AND SO UNFOLDS THE NEW WORLD ORDER IN THE AGE OF CLINTON.

    // END OPT //

    TEXT: DOMESTICALLY, "THE CHRISTIAN SCIENCE MONITOR" IS PLEASED WITH THE RECENT VOLUNTARY ANNOUNCEMENT THAT MOST OF THE NATION'S GUNMAKERS WILL BEGIN PUTTING TRIGGER LOCKS ON ALL THEIR NEW WEAPONS. SAYS "THE MONITOR":

    VOICE: ULTIMATELY, THE RESPONSIBILITY WILL LIE WITH GUN OWNERS TO ACTUALLY USE THE LOCKS. BUT EVEN THAT IS NOT ENOUGH. ABOVE ALL, THEY NEED TO KEEP GUNS AWAY FROM CHILDREN. BY AGREEING TO PROVIDE SAFETY LOCKS, THE HANDGUN INDUSTRY HAS RECOGNIZED IT HAS A RESPONSIBILITY. HANDGUN OWNERS DO TOO.

    TEXT: FINALLY, "THE ATLANTA CONSTITUTION" NOTES THE PASSING OF AUTHOR JAMES MICHENER WHO DIED LAT WEEK AT AGE 90, CALLING HIM -- A PRAGMATIC CRAFTSMAN.

    VOICE: TO MANY CRITICS, [MR.] MICHENER'S INNATE PRACTICALITY -- A PRODUCT OF HIS TOUGH UPBRINGING -- DISQUALIFIED HIM FROM CONSIDERATION AS A 'SERIOUS' AUTHOR. JUDGED IN STRICTLY LITERARY TERMS, THEY WERE PROBABLY RIGHT. HIS BOOKS WERE TOO STRAIGHTFORWARD AND WERE CLEARLY INTENDED MORE TO TEACH THAN ENTHRALL. ...IN THAT SENSE HE WAS MORE CRAFTSMAN THAN ARTIST, CREATING THINGS THAT SERVED A PURPOSE, RATHER THAN THINGS OF GREAT BEAUTY. [MR.] MICHENER'S GREATEST TALENT WAS AN ENTHUSIASM FOR LEARNING AND FOR SHARING THAT ENTHUSIASM AND LEARNING WITH OTHERS.

    TEXT: ON THAT NOTE, WE CONCLUDE THIS BRIEF SAMPLING OF COMMENT FROM THE EDITORIAL PAGES OF MONDAY'S U-S NEWSPAPERS.
    NEB/ANG/RAE
    20-Oct-97 10:26 AM EDT (1426 UTC)
    NNNN
    Source: Voice of America


    [05] N-Y ECON WRAP (S & L) BY MAX RUSTON (NEW YORK)

    DATE=10/20/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-221494
    CONTENT=
    VOICED AT:

    INTRO: STOCK PRICES IN THE UNITED STATES WERE UP TODAY (MONDAY), SHOWING SIGNS OF RECOVERY FOLLOWING SHARP LOSSES LAST WEEK. V-O-A'S CORRESPONDENT MAX RUSTON IN NEW YORK HAS THE LATEST FINANCIAL NEWS.

    TEXT: THE DOW JONES INDUSTRIAL AVERAGE CLOSED UP 75 POINTS AT 79-HUNDRED-21. THE STANDARD AND POOR'S 500 INDEX WAS ALSO UP, MORE THAN 11 POINTS, CLOSING AT 956.

    TECHNOLOGY STOCKS WERE AMONG THOSE LEADING THE REBOUND. BROKERS SAY BARGAIN HUNTING FOLLOWING FRIDAY'S 91 POINT DROP AS WELL AS THE RELEASE OF PROMISING CORPORATE EARNINGS REPORTS HELPED BOOST STOCK PRICES.

    THE COMPUTER SOFTWARE GIANT MICROSOFT WAS AMONG THE MOST VOLATILE STOCKS ON THE NEW YORK EXCHANGE. MICROSOFT STARTED THE DAY HIGHER BUT TUMBLED WHEN THE U-S JUSTICE DEPARTMENT CHARGED THE COMPANY WITH VIOLATING ANTI-MONOPOLY LAWS IN THE DISTRIBUTION OF ITS "EXPLORER" INTERNET BROWSER. MICROSOFT WAS ORDERED TO CHANGE ITS DISTRIBUTION PRACTICES IMMEDIATELY OR FACE FINES OF ONE MILLION DOLLAR EACH DAY.

    /// REST OPTIONAL FOR LONG ///

    IN ANNOUNCING THE MOVE, ATTORNEY GENERAL JANET RENO REJECTED SUGGESTIONS THE JUSTICE DEPARTMENT IS RELUCTANT TO TAKE ACTION AGAINST THE COUNTRY'S MOST POWERFUL CORPORATIONS.

    /// RENO ACT ///

    TODAY'S ACTION SHOWS THAT WE WILL NOT TOLERATE ANY COERCION BY DOMINANT COMPANIES IN ANY WAY THAT DISTORTS COMPETITION.

    /// END ACT ///

    ANOTHER LARGE CORPORATION IN THE NEWS WAS THE COMMUNICATIONS FIRM A-T-AND-T -- THE MOST WIDELY HELD PUBLIC COMPANY IN THE UNITED STATES. CHAIRMAN ROBERT ALLEN ANNOUNCED PLANS TO RETIRE ON NOVEMBER FIRST AND HAND CONTROL TO 59 YEAR OLD MICHAEL ARMSTRONG. MR. ARMSTRONG HAS SPENT THE PAST FIVE YEARS HEADING THE AEROSPACE AND COMMUNICATIONS COMPANY HUGHES ELECTRONICS. THE CHANGE FOLLOWS CRITICISM OF MR. ALLEN'S LEADERSHIP OF A-T-AND-T, WHICH HAS LAGGED BEHIND OTHER COMPANIES IN ITS SECTOR.

    THE HOSPITALITY BUSINESS MAY NEVER BE QUITE THE SAME AFTER THE ANNOUNCEMENT THAT STARWOOD LODGING PLANS TO PURCHASE THE I-T-T CORPORATION FOR NINE-POINT-EIGHT BILLION DOLLARS. IF SUCCESSFUL, THE AQUISITION COULD END ONE OF THE MOST PUBLIC AND BITTER CORPORATE BATTLES OF RECENT YEARS IN WHICH THE HILTON HOTELS CORPORATION ATTEMPTED A HOSTILE TAKEOVER OF I-T-T. THE PROPOSED DEAL BETWEEN STARWOOD AND I-T-T WOULD CREATE THE LARGEST LUXURY HOTEL COMPANY IN THE WORLD. ITS 650 PROPERTIES IN 70 COUNTRIES WOULD INCLUDE THE WESTIN, RITZ, MARRIOTT AND SHERATON HOTEL CHAINS.

    AND SOFTDRINK MAKER COCA COLA IS MARKING THE WEEKEND DEATH OF ITS WELL KNOWN CHAIRMAN, ROBERTO GOIZUETTA. MR. GOIZUETTA DIED OF THROAT CANCER ON SATURDAY AT THE AGE OF 65. COCA COLA PRESIDENT DOUG IVESTER IS EXPECTED TO BE NAMED CHAIRMAN OF THE COMPANY LATER THIS WEEK. (SIGNED) NEB/NY/MPR/LSF/PT
    20-Oct-97 5:03 PM EDT (2103 UTC)
    NNNN
    Source: Voice of America


    [06] RUSSIA / SOROS (L-ONLY) BY MICHELE KELEMEN (MOSCOW)

    DATE=10/20/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-221456
    CONTENT=
    VOICED AT:

    INTRO: AMERICAN FINANCIER GEORGE SOROS SAYS HE PLANS TO SPEND 300-MILLION TO 500-MILLION DOLLARS DURING THE NEXT THREE YEARS TO FUND SOCIAL PROGRAMS IN RUSSIA. V-O-A'S MICHELE KELEMEN IN MOSCOW REPORTS MR. SOROS MADE THE ANNOUNCEMENT AT A NEWS CONFERENCE, WHERE HE FACED TOUGH QUESTIONS ABOUT HIS PRIVATE FINANCIAL DEALINGS.

    TEXT: GEORGE SOROS SAYS HIS NEW INITIATIVE WILL TARGET PROBLEMS HE FOUND DURING HIS TWO-WEEK TOUR OF RUSSIA. IT WILL COVER HEALTH CARE, EDUCATION, AND EFFORTS TO RE-TRAIN MILITARY PERSONNEL TO WORK IN CIVILIAN AREAS.

    HE HAS A SET A THREE-YEAR LIMIT TO THE INITIATIVE, BUT SAYS HE HOPES LOCAL GOVERNMENTS OR EVEN AUTHORITIES IN MOSCOW WILL MATCH FUNDS TO MAKE SURE THESE PROGRAMS CONTINUE.

    /// SOROS ACT ///

    THERE IS A TEMPTATION TO PROVIDE HUMANITARIAN AID, BUT IT MUST BE RESISTED. WE HAVE DONE SO IN THE PAST, WHEN WE DISTRIBUTED 500 DOLLARS EACH TO SOME 30-THOUSAND SCIENTISTS. BUT THOSE DAYS ARE GONE, AND WE MUST CONFINE OUR INTERVENTION TO THOSE AREAS WHERE WE CAN HELP TO MOBILIZE EXISTING RESOURCES IN A MORE EFFICIENT WAY.

    /// END ACT ///

    MR. SOROS HAS ALSO BEGUN INVESTING IN RUSSIA'S MARKET AND HAS COME UNDER FIRE IN THE MEDIA FOR HIS INVOLVEMENT IN THE CONTROVERSIAL SELL-OFF OF A 25-PERCENT STAKE IN RUSSIA'S TELECOMMUNICATIONS HOLDING COMPANY. THE LOSING BIDDERS -- SOME OF RUSSIA'S MOST POWERFUL BANKERS -- ACCUSED THE GOVERNMENT OF SHOWING FAVORITISM TO THE SOROS-BACKED INVESTORS.

    MR. SOROS SAYS THE CONTROVERSY SHOWS A NEW, MORE PUBLIC SYSTEM IS NEEDED FOR ALL GOVERNMENT SELL-OFFS, AND HE SAYS THE POWERFUL BANKERS WILL HAVE TO PLAY BY THE RULES.

    /// SOROS ACT ///

    THEY ARE THE PLAYERS AT THE PRESENT TIME AND THEY MUST MAKE THE TRANSITION FROM ACTING AS ROBBER CAPITALISTS TO ACTING AS LEGITIMATE CAPITALISTS. THIS IS NOT THE WAY I IMAGINED THE DEVELOPMENT OF RUSSIA AFTER THE COLLAPSE OF COMMUNISM, BUT THAT IS THE WAY IT IS.

    /// END ACT ///

    AS FOR HIS FUTURE INVESTMENT PLANS, MR. SOROS SAYS HE WILL CONTINUE DOING BUSINESS IN RUSSIA, ALTHOUGH HE WOULD NOT ELABORATE. HE ALSO SAYS HE WILL SPEND MORE ON HIS CHARITABLE WORK IN RUSSIA THAN HE COULD MAKE AS AN INVESTOR IN THE COUNTRY. (SIGNED)
    NEB/MLK/JWH/RAE
    20-Oct-97 9:18 AM EDT (1318 UTC)
    NNNN
    Source: Voice of America


    [07] TURKEY / RUSSIA TRADE BY KYLE KING (INSTANBUL)

    DATE=10/20/97
    TYPE=BACKGROUND REPORT
    NUMBER=5-37822
    CONTENT=
    VOICED AT:

    INTRO: RUSSIAN-SPEAKING SHOPPERS AND BARGAIN HUNTERS HAVE QUIETLY TRANSFORMED PART TURKEY'S LARGEST CITY INTO A THRIVING MARKET THAT CATERS ALMOST EXCLUSIVELY TO CUSTOMERS FROM THE FORMER SOVIET UNION. WHILE BUSINESS ANALYSTS SAY TURKISH PRODUCTS HAVE FOUND A SIGNIFICANT MARKET IN EASTERN EUROPE, KYLE KING REPORTS SOME EXPERTS IN TURKEY WISH MORE WAS BEING DONE TO REGULATE THE TRADE.

    TEXT: THE SIGNS HANGING OUTSIDE THE SMALL SHOPS NEAR ISTANBUL'S OLD COVERED BAZAAR ARE ALMOST ALL WRITTEN IN RUSSIAN, AS WELL AS IN TURKISH.

    LOCAL RESIDENTS CALL THE AREA "LITTLE RUSSIA," AND A QUICK SURVEY OF THE PEOPLE SHOPPING HERE QUICKLY REVEALS THEY ARE MORE LIKELY TO SPEAK RUSSIAN THAN ANY OTHER LANGUAGE.

    // STREET INTERVIEW //

    DO YOU SPEAK ENGLISH? NO. DO YOU SPEAK FRENCH? YES, A LITTLE. DO YOU SPEAK RUSSIAN? YES. ARE YOU FROM RUSSIA? NO, I AM FROM UKRAINE.

    // END ACT //

    THIS WOMAN, WHO CAME FROM UKRAINE IN SEARCH OF OPPORTUNITIES TO MAKE MONEY, IS LIKE MANY OF THE ENTERPRISING RUSSIANS, POLES, CZECHS, AND HUNGARIANS THAT COME TO ISTANBUL EACH DAY.

    /// ACT OF WOMAN, IN UKRANIAN, ESTABLISH AND FADE UNDER ///

    SHE SAYS -- WE LEFT OUR CHILDREN AND OUR HOUSE IN UKRAINE SO WE COULD COME HERE TO EARN MONEY.

    MOST OF THE NEW CLASS OF TRAVELING MERCHANTS FROM THE FORMER SOVIET UNION STAY IN ISTANBUL JUST LONG ENOUGH TO PURCHASE SMALL AMOUNTS OF CONSUMER GOODS TO BRING HOME AND SELL.

    ONE SHOP OWNER SPECIALIZING IN LEATHER JACKETS AND HEAVY FUR COATS SAYS NEARLY ALL OF HIS BUSINESS IS NOW CONDUCTED IN RUSSIAN A LANGUAGE HE AND MOST OTHER NEARBY SHOP OWNERS HAVE ALMOST ALL LEARNED TO SPEAK.

    // SHOPKEEPER IN TURKISH -- ESTABLISH AND FADE UNDER //

    HE SAYS, I DO NOT KNOW WHY BUT THE RUSSIANS COME HERE TO SHOP. I GUESS THEY FIND THE QUALITY OF THE MERCHANDISE IS GOOD AND THE PRICE IS RIGHT.

    //OPT//

    OTHER MERCHANTS AGREE. THIS SHOP OWNER SAYS PRICES IN TURKEY ARE LOWER THAN IN EASTERN EUROPE. HE SAYS HIS BUSINESS IS ALMOST EXCLUSIVELY WITH RUSSIAN-SPEAKING CUSTOMERS.

    // SHOPOWNER IN TURKISH, ESTABLISH AND FADE UNDER //

    IT IS A SEASONAL THING, THE OWNER SAYS AS HE STANDS OUTSIDE HIS CLOTHING STORE. WE DO MOST OF OUR BUSINESS IN THE WINTER MONTHS. IT VARIES FROM DAY TO DAY. IT IS ALSO SOMEWHAT DEPENDENT ON HOW THE ECONOMIES ARE DOING IN THOSE COUNTRIES (EDS: FORMER SOVIET REPUBLICS). // END OPT //

    SOME ANALYSTS, LIKE ISTANBUL UNIVERSITY ECONOMIST ZAFER TUJCA (TUN-JA), SAY SUCH TRADE HAS BECOME A BIG BOOST FOR THE TURKISH ECONOMY, WHICH HAS BEEN HARD-HIT BY INFLATION AND OTHER PROBLEMS.

    // TUJCA ACT IN TURKISH, ESTABLISH AND FADE UNDER //

    THIS IS ABSOLUTELY GOOD FOR THE COUNTRY, MR. TUJCA SAYS. IT IS NOW ESTIMATED THIS TRADE ADDS UP TO MORE THAN 10-BILLION DOLLARS A YEAR, MAYBE EVEN MORE, AND THAT HE SAYS IS A VERY BIG SUM.

    BUT OTHER EXPERTS DISAGREE. ECONOMIST MITHAT MELEN SAYS HE DOUBTS SO-CALLED SUITCASE TRADE, AS IT HAS COME TO BE KNOWN, IS AS LARGE AS SOME ANALYSTS SAY.

    // MELEN ACT //

    IT IS IMPORTANT TRADE. I THINK IN SOME DAYS THERE ARE 50-MILLION DOLLARS TURNOVER, INCLUDING FOREIGN EXCHANGE AND THE GOLD MARKET. SO IT IS AN IMPORTANT MARKET. BUT IT IS NOT NECESSARILY TRUE THAT "LUGGAGE TRADE" IS AN IMPORTANT THING. IT IS AN IMPORTANT ISSUE, BUT NOT ONE OF THE MAIN ISSUES. AND I DO NOT THINK ITS WORTH ABOUT 10-BILLION DOLLARS.

    // END ACT //

    MR. MELEN AND OTHER ANALYSTS AGREE THAT TRADE BETWEEN TURKEY AND FORMER SOVIET REPUBLICS HAS GROWN SIGNIFICANTLY SINCE THE COLLAPSE OF COMMUNISM. THEY SAY THE PROBLEM IS MUCH OF THE TRADE IS UNREGISTERED AND UNTAXED -- A SITUATION THAT COSTS THE GOVERNMENT MILLIONS OF DOLLARS EACH YEAR IN LOST REVENUE.

    ALTHOUGH THEY PRAISE THE SPIRIT OF THE ENTREPRENEURS WHO HAVE BROUGHT ABOUT THIS BOOMING TRADE, THEY SAY THE GOVERNMENT NEEDS TO DO MORE TO SEE THAT IT IS CONDUCTED IN A MORE DISCIPLINED WAY. (SIGNED)
    NEB/KBK/PCF/RAE
    20-Oct-97 10:42 AM EDT (1442 UTC)
    NNNN
    Source: Voice of America


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