OTHER NEWS - Nov. 1, 1994

East Coast Leads Country in Foreign Investment: The region has become the leader in direct foreign investment, taking the top spot away from the West Coast due to increased participation from European investors, a survey by International Business magazine and consultants Arthur Andersen said. Foreign investors put $26.2 billion into U.S.-based companies and American real estate last year, up 71% from 1992. Investments by the British went up fourfold, and many other European nations also increased their U.S. portfolios, which offset a 30% drop in investments by financially ailing Tokyo. The report says Britain has continued its U.S. investment spree in 1994 and will probably end the year as America’s largest foreign investor--a position it lost to Japan in 1992. New York displaced California as the most popular spot for foreign investors, the survey found, because Europeans favor the East Coast over the West.