NEWS SUMMARY

NEWS SUMMARY

* East German Election Poses Economic Choices 5A

* Howard Simon - Simon Says 7A* Greg Johnson - Managing Traffic 2B

* Strike Hits New Brunswick Docks 1B

AIR CARGO

Niagara Falls International Airport wants to attract additional air cargo traffic. 5B

Fear of postal authority monopolies spurs formation of new trade group for international mail/courier traffic. 5B

AVIATION

The increased aviation activity between Australia and Asia is expected to continue. 5B

Henry A. Duffy will not seek re-election as president of the Air Line Pilots Association. 5B

BANKING

The U.S. Export-Import Bank may be doing business in virtually all of Eastern Europe by this summer, its chairman said. 2A

CHEMICALS/

PLASTICS

Chemical dumping at a Du Pont Co. plant in Gary, Ind., has poisoned 36 spots and may have contaminated groundwater, a river and Lake Michigan. 7A

COMMODITIES

Fundamentals are supporting copper even at higher prices as Comex May delivery topped $1.28 a pound. 6A

The CME board of governors agreed to limit dual trading at the exchange and will seek membership approval of its proposal next month. 6A

Farmers are refraining from forward-contracting new-crop hard red winter wheat, and waiting for prices to recover from their recent decline. 6A

The grain industry warned the government about tampering with grain quality standards that could damage their competitiveness. 7A

EDI

The ICC is going to get some help from a sister agency as it attempts to encourage electronic tariff filing by the companies it regulates. 2B

EXPORTS

U.S. companies see big opportunities in helping East Germany clean up its environment and rebuild its infrastructure. 1A

East Germans go to the polls Sunday but many voters still haven't the slightest idea which candidates they'll choose. 5A

Sen. John Danforth, R-Mo., warned Thursday that Congress will impose trade sanctions against Japan if current bilateral negotiations fail. 5A

FINANCIAL

Fearing a recession induced by excessive austerity measures, China said it would inject more money into the economy and cut interest rates. 3A

The U.S. dollar declined against all key currencies except the yen in active trading. 3A

IMPORTS

The U.S. Treasury Department has approved a plan to reorganize the country's Customs Service. 4A

Japanese automobile exports to the United States will drop below 2 million units this fiscal year, an industry leader predicted. 4A

Former Arizona Gov. Bruce Babbitt warned that the current democratic revolution could falter if some countries fail to attract investment capital. 4A

Saks would become a Japanese-American hybrid under a buy-out plan proposed by Saks managers and Japan's Tobu Department Store. 4A

INLAND

WATERWAYS

Environmental issues will have a strong impact on legislation affecting domestic shipping operations, U.S. Coast Guard officials say. 2B

INSURANCE

Eleven auto insurers, fighting a rate and premium freeze, filed suit this week against Georgia Insurance Commissioner Warren Evans. 9A

Gasoline stations will get a one-year breather before having to comply with

financial responsibility requirements for underground storage tanks. 9A

CCC claims its new personal computer-based collision estimate system will speed up automobile insurance settlements and repairs. 9A

A leading aviation insurance broker forecast that aviation premium rates will remain depressed this year. 9A

INTERMODAL

Dissidents gain control of Xtra Corp., ousting directors of the trailer- leasing company. 2B

MARITIME

Evergreen Marine Corp. secures another beer contract, adding to rate tension on the North Atlantic. 1A

A leading Swedish tanker owner who is a member of Greenpeace has spoken out in support of double-hull vessels. 1A

A promotion at Hanjin demonstrates the increasing responsibility Americans are assuming at Asian carriers. 1A

A top Hanjin executive expects steady growth in the westbound trans-Pacific trades this year, but only slight growth eastbound. 1A

Matson Navigation Co. announced a $16 million order for three new container cranes for its Sand Island Terminal in Honolulu. 1B

A contract dispute between longshoremen and employers has shut down the Bay of Fundy port of Saint John, New Brunswick. 1B

A restructured Sea Containers will have a cash stockpile and be bid-proof. 1B

Emergency centers to cope with oil spills are sought by the United States at meetings held in London this week before an IMO committee. 3B

Classification societies are starting to introduce a grading system for tankers that will give a much better indication of the state of a vessel. 3B

Coordinated storm preparation cut Charleston's port damage from Hurricane Hugo. 8B

Virtually all of the Port of Charleston's hurricane damages will be covered by insurance. 8B

The tireless efforts of port authority workers are credited for Charleston port's rapid recovery from Hurricane Hugo's costly visit. 8B

OIL AND GAS

The U.S. Department of Energy recommends expanded use of hydropower and alternate fuel development. 1A

Phillips Petroleum will launch direct retail propane marketing for cars in five Rocky Mountain cities. 6B

The owner of the propane pipeline that ruptured in New York is still working on alternate supply arrangements for its customers. 7B

OPINION

Saving the Delaware & Hudson could mean the loss of $50 million to $100 million in revenue as well as 600 to 900 jobs for Conrail. 8A

The 1990s loom large as the decade of aggressive strategic technology management. 8A

RAILROADS

The third test train of new double stack service arrives in N.J. tonight. 2B

WORLD TRADE

U.S.-Japanese negotiations on restrictions in the Japanese satellite market ground to a halt this week, setting up the possibility of U.S. retaliation. 1A

A Japanese report says that nation's economy will grow at an average yearly rate of 4.1 percent over the next six years. 3A

The Canadian prime minister is to sign a major trade pact in Mexico City today. 4A