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1985 CD CD
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at IN IN
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market NN NN
seems VBZ VBZ
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firms NNS NNS
are VBP VBP
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to TO TO
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than IN IN
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of IN IN
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from IN IN
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masse NN FW
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who WP WP
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( ( (
ditto NN NN
in IN IN
game NN NN
two CD CD
) ) )
, , ,
moved VBD VBD
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along IN IN
in IN IN
the DT DT
A NNP NNP
's POS NNP
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second JJ JJ
inning NN NN
, , ,
and CC CC
homered VBD VBD
for IN IN
his PRP$ PRP$
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's POS POS
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tally NN NN
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is VBZ VBZ
his PRP$ PRP$
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among IN IN
the DT DT
East NNP NNP
Bay NNP NNP
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that IN IN
when WRB WRB
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his PRP$ PRP$
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it PRP PRP
agreed VBD VBD
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over RP RP
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him PRP PRP
in IN IN
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for IN IN
an DT DT
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. . .
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; : :
power-hitter : NN
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's POS POS
. . .
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A NNP NNP
's POS NNP
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of IN IN
the DT DT
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was VBD VBD
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, , ,
who WP WP
exemplifies VBZ VBZ
the DT DT
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side NN NN
of IN IN
the DT DT
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equation NN NN
. . .
<s>
He PRP PRP
smoked VBD VBD
Toronto NNP NNP
in IN IN
the DT DT
playoffs NNS NNS
with IN IN
six CD CD
hits NNS NNS
, , ,
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walks VBZ NNS
and CC CC
eight CD CD
stolen VBN VBN
bases NNS NNS
in IN IN
22 CD CD
at IN IN
bats NNS NNS
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and CC CC
continued VBD VBD
that IN DT
by IN IN
going VBG VBG
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at IN IN
the DT DT
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Sunday NNP NNP
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along IN IN
with IN IN
walking NN VBG
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stealing VBG VBG
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and CC CC
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. . .
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When WRB WRB
you PRP PRP
're VBP VBP
in IN IN
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, , ,
you PRP PRP
see VBP VBP
every DT DT
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tremendously RB RB
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he PRP PRP
lectured VBD VBD
. . .
<s>
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guys NNS NNS
in IN IN
the DT DT
set VBN NN
were VBD VBD
Will NNP NNP
Clark NNP NNP
, , ,
Kevin NNP NNP
Mitchell NNP NNP
and CC CC
Matt NNP NNP
Williams NNP NNP
, , ,
the DT DT
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' POS POS
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hitters NNS NNS
. . .
<s>
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combined VBN VBD
for IN IN
25 CD CD
hits NNS NNS
, , ,
six CD CD
home NN NN
runs NNS NNS
and CC CC
24 CD CD
runs NNS NNS
batted VBN VBN
in IN RP
in IN IN
the DT DT
five CD CD
games NNS NNS
against IN IN
the DT DT
Cubs NNP NNP
. . .
<s>
They PRP PRP
went VBD VBD
a DT DT
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5-for-24 JJ CD
here RB RB
, , ,
with IN IN
zero CD CD
homers NNS NNS
and CC CC
ribbies NNS NNS
. . .
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It PRP PRP
's VBZ POS
that IN DT
last JJ JJ
set NN NN
of IN IN
numbers NNS NNS
, , ,
as RB RB
much RB JJ
as IN IN
anything NN NN
else RB RB
, , ,
that WDT WDT
gives VBZ VBZ
the DT DT
Giants NNPS NNP
hope VBP NN
in IN IN
the DT DT
Series NNP NNP
games NNS NNS
to TO TO
come VB VB
. . .
<s>
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I PRP PRP
believe VBP VBP
in IN IN
the DT DT
law NN NN
of IN IN
averages NNS NNS
, , ,
'' '' ''
declared VBD VBD
San NNP NNP
Francisco NNP NNP
batting NN NN
coach NN NN
Dusty NNP NNP
Baker NNP NNP
after IN IN
game NN NN
two CD CD
. . .
<s>
`` `` ``
I PRP PRP
'd MD MD
rather RB RB
see VB VB
a DT DT
so-so JJ JJ
hitter NN NN
who WP WP
's VBZ VBZ
hot JJ JJ
come VBN VB
up RP RP
for IN IN
the DT DT
other JJ JJ
side NN NN
than IN IN
a DT DT
good JJ JJ
hitter NN NN
who WP WP
's VBZ VBZ
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. . .
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'' '' ''
But CC CC
the DT DT
old JJ JJ
Dodger NNP NNP
slugger NN NN
wisely RB RB
offered VBD VBD
no DT DT
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about IN IN
when WRB WRB
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would MD MD
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to TO TO
his PRP$ PRP$
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. . .
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`` `` ``
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it PRP PRP
goes VBZ VBZ
, , ,
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never RB RB
know VBP VBP
when WRB WRB
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'll MD MD
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it PRP PRP
back RB RB
, , ,
'' '' ''
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said VBD VBD
. . .
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's VBZ VBZ
baseball NN NN
. . .
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Corp. NNP NNP
reported VBD VBD
a DT DT
10 CD CD
% NN NN
drop NN NN
in IN IN
third-quarter JJ JJ
net JJ JJ
income NN NN
, , ,
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that WDT WDT
caused VBD VBD
its PRP$ PRP$
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margins NNS NNS
to TO TO
dip VB VB
. . .
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income NN NN
for IN IN
the DT DT
quarter NN NN
fell VBD VBD
to TO TO
$ $ $
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from IN IN
$ $ $
103.1 CD CD
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, , ,
roughly RB RB
what WP WP
analysts NNS NNS
had VBD VBD
expected VBN VBN
. . .
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per-share JJ JJ
profit NN NN
dropped VBD VBD
only RB RB
2 CD CD
% NN NN
to TO TO
$ $ $
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a DT DT
share NN NN
from IN IN
$ $ $
1.26 CD CD
a DT DT
share NN NN
, , ,
as IN IN
the DT DT
company NN NN
continued VBD VBD
its PRP$ PRP$
stock NN NN
buy-back NN JJ
plan NN NN
. . .
<s>
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shares NNS NNS
outstanding JJ JJ
dropped VBD VBD
to TO TO
75.8 CD CD
million CD CD
from IN IN
82.1 CD CD
million CD CD
. . .
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Revenue NN NN
fell VBD VBD
1 CD CD
% NN NN
to TO TO
$ $ $
1.39 CD CD
billion CD CD
from IN IN
$ $ $
1.41 CD CD
billion CD CD
. . .
<s>
The DT DT
computer NN NN
maker NN NN
, , ,
which WDT WDT
sells VBZ VBZ
more JJR JJR
than IN IN
half PDT NN
its PRP$ PRP$
goods NNS NNS
outside IN IN
the DT DT
U.S. NNP NNP
, , ,
also RB RB
said VBD VBD
the DT DT
negative JJ JJ
effect NN NN
of IN IN
a DT DT
stronger JJR JJR
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dollar NN NN
will MD MD
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affect VB VB
'' '' ''
its PRP$ PRP$
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and CC CC
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make VB VB
it PRP PRP
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to TO TO
better RBR VB
1988 CD CD
results NNS NNS
. . .
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said VBD VBD
revenue NN NN
declined VBD VBD
both DT DT
in IN IN
the DT DT
U.S. NNP NNP
and CC CC
overseas RB RB
, , ,
reflecting VBG VBG
a DT DT
world-wide JJ JJ
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of IN IN
the DT DT
computer NN NN
markets NNS NNS
. . .
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company NN NN
, , ,
however RB RB
, , ,
said VBD VBD
orders NNS NNS
in IN IN
the DT DT
U.S. NNP NNP
showed VBD VBD
`` `` ``
good JJ JJ
gains NNS NNS
'' '' ''
during IN IN
the DT DT
latest JJS JJS
quarter NN NN
. . .
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Analysts NNS NNS
estimate VBP VBP
those DT DT
gains NNS NNS
at IN IN
12 CD CD
% NN NN
to TO TO
13 CD CD
% NN NN
, , ,
a DT DT
good JJ JJ
part NN NN
of IN IN
it PRP PRP
coming VBG VBG
from IN IN
large JJ JJ
orders NNS NNS
placed VBN VBN
by IN IN
a DT DT
few JJ JJ
of IN IN
NCR NNP NNP
's POS POS
major JJ JJ
customers NNS NNS
. . .
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In IN IN
addition NN NN
to TO TO
a DT DT
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slowing NN NN
of IN IN
the DT DT
computer NN NN
industry NN NN
, , ,
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, , ,
which WDT WDT
sells VBZ VBZ
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teller NN NN
machines NNS NNS
and CC CC
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cash NN NN
registers NNS NNS
, , ,
is VBZ VBZ
also RB RB
affected VBN VBN
by IN IN
the DT DT
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and CC CC
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sectors NNS NNS
, , ,
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areas NNS NNS
of IN IN
the DT DT
economy NN NN
that WDT WDT
have VBP VBP
generally RB RB
not RB RB
been VBN VBN
robust JJ JJ
, , ,
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notes VBZ VBZ
Sanjiv NNP NNP
G. NNP NNP
Hingorani NNP NNP
, , ,
an DT DT
analyst NN NN
for IN IN
Salomon NNP NNP
Brothers NNPS NNP
Inc NNP NNP
. . .
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These DT DT
factors NNS NNS
, , ,
combined VBN VBN
with IN IN
a DT DT
strong JJ JJ
dollar NN NN
, , ,
should MD MD
negatively RB RB
affect VB VB
the DT DT
current JJ JJ
quarter NN NN
's POS POS
results NNS NNS
, , ,
NCR NNP NNP
said VBD VBD
. . .
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the DT DT
year-earlier JJ JJ
fourth JJ JJ
quarter NN NN
, , ,
NCR NNP NNP
had VBD VBD
profit NN NN
of IN IN
$ $ $
149.6 CD CD
million CD CD
, , ,
or CC CC
$ $ $
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a DT DT
share NN NN
, , ,
on IN IN
revenue NN NN
of IN IN
$ $ $
1.8 CD CD
billion CD CD
. . .
<s>
Mr. NNP NNP
Hingorani NNP NNP
said VBD VBD
he PRP PRP
lowered VBD VBD
his PRP$ PRP$
full-year JJ JJ
estimates NNS NNS
for IN IN
1989 CD CD
to TO TO
$ $ $
5.35 CD CD
a DT DT
share NN NN
from IN IN
$ $ $
5.50 CD CD
a DT DT
share NN NN
. . .
<s>
Revenue NN NN
projections NNS NNS
were VBD VBD
slashed VBN VBN
to TO TO
$ $ $
6.03 CD CD
billion CD CD
from IN IN
$ $ $
6.20 CD CD
billion CD CD
. . .
<s>
Last JJ JJ
year NN NN
, , ,
NCR NNP NNP
had VBD VBD
net JJ JJ
income NN NN
of IN IN
$ $ $
439.3 CD CD
million CD CD
, , ,
or CC CC
$ $ $
5.33 CD CD
a DT DT
share NN NN
, , ,
on IN IN
$ $ $
5.99 CD CD
billion CD CD
in IN IN
revenue NN NN
. . .
<s>
For IN IN
the DT DT
nine CD CD
months NNS NNS
, , ,
the DT DT
company NN NN
's POS POS
earnings NNS NNS
fell VBD VBD
9 CD CD
% NN NN
to TO TO
$ $ $
264.6 CD CD
million CD CD
, , ,
or CC CC
$ $ $
3.40 CD CD
a DT DT
share NN NN
, , ,
from IN IN
$ $ $
289.7 CD CD
million CD CD
, , ,
or CC CC
$ $ $
3.49 CD CD
a DT DT
share NN NN
. . .
<s>
Revenues NNS NNS
declined VBD VBD
1 CD CD
% NN NN
to TO TO
$ $ $
4.17 CD CD
billion CD CD
from IN IN
$ $ $
4.19 CD CD
billion CD CD
. . .
<s>
In IN IN
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
composite JJ NN
trading NN NN
yesterday NN NN
, , ,
NCR NNP NNP
shares NNS NNS
fell VBD VBD
75 CD CD
cents NNS NNS
to TO TO
close VB VB
at IN IN
$ $ $
57 CD CD
. . .
<s>
Concerning VBG VBG
your PRP$ PRP$
Sept. NNP NNP
19 CD CD
article NN NN
`` `` ``
Wall NNP NNP
Street NNP NNP
Firms NNPS NNP
Link NNP VBP
Analysts NNS NNP
' POS POS
Pay VB NN
to TO TO
Performance NNP NN
, , ,
'' '' ''
I PRP PRP
'm VBP VBP
delighted JJ VBN
that IN IN
Wall NNP NNP
Street NNP NNP
is VBZ VBZ
finally RB RB
tuning VBG VBG
in RP RP
to TO TO
the DT DT
hard JJ JJ
, , ,
cold JJ JJ
facts NNS NNS
of IN IN
the DT DT
real JJ JJ
working VBG NN
world NN NN
. . .
<s>
If IN IN
the DT DT
firms NNS NNS
are VBP VBP
serious JJ JJ
, , ,
however RB RB
, , ,
why WRB WRB
limit VB VB
the DT DT
practice NN NN
to TO TO
the DT DT
poor JJ JJ
, , ,
maligned JJ VBN
analysts NNS NNS
whose WP$ WP$
ability NN NN
to TO TO
see VB VB
into IN IN
the DT DT
future NN NN
is VBZ VBZ
fragile JJ JJ
at IN IN
best JJS RBS
? . .
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Why WRB WRB
not RB RB
extend VB VB
the DT DT
same JJ JJ
harsh JJ JJ
standards NNS NNS
to TO TO
the DT DT
sales NNS NNS
force NN NN
, , ,
and CC CC
pay VB VB
brokers NNS NNS
a DT DT
base NN NN
salary NN NN
with IN IN
annual JJ JJ
bonus NN NN
based VBN VBN
on IN IN
how WRB WRB
much JJ JJ
money NN NN
they PRP PRP
made VBD VBD
for IN IN
their PRP$ PRP$
clients NNS NNS
during IN IN
the DT DT
year NN NN
? . .
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That DT DT
should MD MD
stop VB VB
a DT DT
lot NN NN
of IN IN
account-churning : NN
, , ,
and CC CC
produce VB VB
a DT DT
stock NN NN
market NN NN
driven VBN VBN
only RB RB
by IN IN
professional JJ JJ
concern NN NN
, , ,
careful JJ JJ
thought NN NN
and CC CC
good JJ JJ
sense NN NN
. . .
<s>
Now RB RB
, , ,
would MD MD
n't RB RB
that DT DT
be VB VB
a DT DT
novelty NN NN
. . .
<s>
Phyllis NNP NNP
Kyle NNP NNP
Stephenson NNP NNP
Newport NNP NNP
News NNP NNP
, , ,
Va NNP NNP
. . .
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Steve NNP NNP
Clark NNP NNP
, , ,
a DT DT
Shearson NNP NNP
Lehman NNP NNP
Hutton NNP NNP
Inc. NNP NNP
trader NN NN
, , ,
reported VBD VBD
for IN IN
work NN NN
at IN IN
5 CD CD
a.m. RB NN
, , ,
two CD CD
and CC CC
a DT DT
half JJ NN
hours NNS NNS
before IN IN
the DT DT
usual JJ JJ
Monday NNP NNP
morning NN NN
strategy NN NN
meeting NN NN
. . .
<s>
At IN IN
Jefferies NNP NNP
& CC CC
Co. NNP NNP
, , ,
J. NNP NNP
Francis NNP NNP
Palamara NNP NNP
did VBD VBD
n't RB RB
reach VB VB
the DT DT
office NN NN
until IN IN
5:30 CD CD
a.m. NN NN
, , ,
but CC CC
then RB RB
he PRP PRP
had VBD VBD
been VBN VBN
up RP RB
most JJS RBS
of IN IN
the DT DT
night NN NN
at IN IN
home NN NN
. . .
<s>
`` `` ``
I PRP PRP
had VBD VBD
calls NNS NNS
all DT DT
night NN NN
long RB RB
from IN IN
the DT DT
States NNS NNP
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
`` `` ``
I PRP PRP
was VBD VBD
woken VBN VBN
up RP RP
every DT DT
hour NN NN
-- : :
1:30 CD CD
, , ,
2:30 CD CD
, , ,
3:30 CD CD
, , ,
4:30 CD CD
. . .
<s>
People NNS NNS
are VBP VBP
looking VBG VBG
for IN IN
possible JJ JJ
opportunities NNS NNS
to TO TO
buy VB VB
, , ,
but CC CC
nobody NN NN
wants VBZ VBZ
to TO TO
stick VB VB
their PRP$ PRP$
chin NN NN
out RP RP
. . .
<s>
'' '' ''
For IN IN
many JJ JJ
of IN IN
London NNP NNP
's POS POS
securities NNS NNS
traders NNS NNS
, , ,
it PRP PRP
was VBD VBD
a DT DT
day NN NN
that WDT WDT
started VBD VBD
nervously RB RB
in IN IN
the DT DT
small JJ JJ
hours NNS NNS
. . .
<s>
By IN IN
lunchtime : NN
, , ,
the DT DT
selling NN NN
was VBD VBD
at IN IN
near-panic NN JJ
fever NN NN
. . .
<s>
But CC CC
as IN IN
the DT DT
day NN NN
ended VBD VBD
in IN IN
a DT DT
frantic JJ JJ
Wall NNP NNP
Street-inspired : JJ
rally NN NN
, , ,
the DT DT
City NNP NNP
breathed VBD VBD
a DT DT
sigh NN NN
of IN IN
relief NN NN
. . .
<s>
So IN IN
it PRP PRP
went VBD VBD
yesterday NN NN
in IN IN
the DT DT
trading NN NN
rooms NNS NNS
of IN IN
London NNP NNP
's POS POS
financial JJ JJ
district NN NN
. . .
<s>
In IN IN
the DT DT
wake NN NN
of IN IN
Wall NNP NNP
Street NNP NNP
's POS POS
plunge NN NN
last JJ JJ
Friday NNP NNP
, , ,
the DT DT
London NNP NNP
market NN NN
was VBD VBD
considered VBN VBN
especially RB RB
vulnerable JJ JJ
. . .
<s>
And CC CC
before IN IN
the DT DT
opening NN NN
of IN IN
trading NN NN
here RB RB
yesterday NN NN
, , ,
all DT DT
eyes NNS NNS
were VBD VBD
on IN IN
early JJ JJ
trading NN NN
in IN IN
Tokyo NNP NNP
for IN IN
a DT DT
clue NN NN
as IN IN
to TO TO
how WRB WRB
widespread JJ JJ
the DT DT
fallout NN NN
might MD MD
be VB VB
. . .
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By IN IN
the DT DT
time NN NN
trading NN NN
officially RB RB
got VBD VBD
under IN IN
way NN NN
at IN IN
9 CD CD
a.m. RB NN
, , ,
the DT DT
news NN NN
from IN IN
Asia NNP NNP
was VBD VBD
in IN RB
. . .
<s>
And CC CC
it PRP PRP
left VBD VBD
mixed JJ JJ
signals NNS NNS
for IN IN
London NNP NNP
. . .
<s>
Tokyo NNP NNP
stocks NNS NNS
closed VBD VBN
off RP JJ
a DT DT
significant JJ JJ
but CC CC
less-than-alarming JJ JJ
1.8 CD CD
% NN NN
on IN IN
thin JJ JJ
volume NN NN
; : :
Hong NNP NNP
Kong NNP NNP
stocks NNS NNS
declined VBD VBD
6.5 CD CD
% NN NN
in IN IN
orderly JJ JJ
trading NN NN
. . .
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At IN IN
Jefferies NNP NNP
' POS POS
trading NN VBG
room NN NN
on IN IN
Finsbury NNP NNP
Circus NNP NNP
, , ,
a DT DT
stately JJ JJ
circle NN NN
at IN IN
the DT DT
edge NN NN
of IN IN
the DT DT
financial JJ JJ
district NN NN
, , ,
desktop NN NN
computer NN NN
screens NNS NNS
displayed VBD VBD
the DT DT
London NNP NNP
market NN NN
's POS POS
major JJ JJ
barometer NN NN
-- : :
the DT DT
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Times-Stock NNP NNP
Exchange NNP NNP
100 CD CD
Share NNP NNP
Index NNP NNP
. . .
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Red JJ JJ
figures NNS NNS
on IN IN
the DT DT
screens NNS NNS
indicated VBD VBD
falling VBG VBG
stocks NNS NNS
; : :
blue JJ JJ
figures NNS NNS
, , ,
rising VBG VBG
stocks NNS NNS
. . .
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Right RB RB
away RB RB
, , ,
the DT DT
reds NNS NNS
outnumbered VBD VBD
the DT DT
blues NNP NNS
, , ,
80 CD CD
to TO TO
20 CD CD
, , ,
as IN IN
the DT DT
index NN NN
opened VBD VBD
at IN IN
2076.8 CD CD
, , ,
off RB IN
157.1 CD CD
points NNS NNS
, , ,
or CC CC
7 CD CD
% NN NN
. . .
<s>
`` `` ``
I PRP PRP
see VBP VBP
concern NN NN
, , ,
but CC CC
I PRP PRP
do VBP VBP
n't RB RB
see VB VB
any DT DT
panic NN NN
, , ,
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said VBD VBD
Mr. NNP NNP
Palamara NNP NNP
, , ,
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, , ,
good-humored JJ JJ
New NNP NNP
York NNP NNP
native NN NN
who WP WP
runs VBZ VBZ
the DT DT
15-trader JJ JJ
office NN NN
. . .
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The DT DT
Jefferies NNP NNP
office NN NN
, , ,
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branch NN NN
of IN IN
the DT DT
Los NNP NNP
Angeles-based JJ JJ
firm NN NN
, , ,
played VBD VBD
it PRP PRP
conservatively RB RB
, , ,
seeking VBG VBG
to TO TO
avoid VB VB
risk NN NN
. . .
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`` `` ``
This DT DT
is VBZ VBZ
not RB RB
the DT DT
sort NN NN
of IN IN
market NN NN
to TO TO
have VB VB
a DT DT
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of IN IN
its PRP$ PRP$
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in IN IN
the DT DT
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trying VBG VBG
to TO TO
match VB VB
buyers NNS NNS
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are VBP VBP
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said VBD VBD
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in RP RP
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the DT DT
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in IN IN
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shares NNS NNS
of IN IN
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and CC CC
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on IN IN
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$ $ $
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out RP RP
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by IN IN
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from IN IN
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abandoned VBD VBD
his PRP$ PRP$
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for IN IN
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this DT DT
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was VBD VBD
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in IN IN
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fielded VBD VBD
a DT DT
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from IN IN
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wanting VBG VBG
an DT DT
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on IN IN
the DT DT
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which WDT WDT
had VBD VBD
been VBN VBN
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of IN IN
its PRP$ PRP$
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before IN IN
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in IN IN
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poised VBN VBN
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in IN IN
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like IN IN
a DT DT
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gathered VBN VBD
at IN IN
the DT DT
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on IN IN
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nearby RB RB
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was VBD VBD
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as IN IN
most JJS JJS
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on IN IN
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12:49 CD CD
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hit VBD VBD
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off RB IN
204.2 CD CD
points NNS NNS
. . .
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`` `` ``
France NNP NNP
opened VBD VBD
the DT DT
limit NN NN
down RP RB
, , ,
off RB IN
at IN IN
least JJS JJS
10 CD CD
% NN NN
if IN IN
you PRP PRP
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said VBD VBD
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in IN IN
the DT DT
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is VBZ VBZ
down RB RB
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's POS VBZ
down JJ RB
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% NN NN
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Norway NNP NNP
11 CD CD
% NN NN
. . .
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has VBZ VBZ
been VBN VBN
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badly RB RB
damaged VBN VBN
. . .
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'' '' ''
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2:30 CD CD
p.m. NN NN
-- : :
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's POS POS
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neared VBD VBD
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traders NNS NNS
and CC CC
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traded VBD VBD
bets NNS NNS
on IN IN
how WRB WRB
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would MD MD
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. . .
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the DT DT
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of IN IN
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and CC CC
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scrambled VBD VBD
for IN IN
the DT DT
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as RB RB
soon RB RB
as IN IN
the DT DT
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opened VBD VBD
-- : :
plummeting VBG VBG
more JJR RBR
than IN IN
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points NNS NNS
in IN IN
the DT DT
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minutes NNS NNS
. . .
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They PRP PRP
saw VBD VBD
an DT DT
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created VBN VBN
by IN IN
the DT DT
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. . .
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As IN IN
Wall NNP NNP
Street NNP NNP
traders NNS NNS
dumped VBD VBD
American NNP NNP
Depositary NNP NNP
Receipts NNPS NNP
in IN IN
Jaguar NNP NNP
PLC NNP NNP
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and CC CC
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Sam NNP NNP
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bought VBD VBD
them PRP PRP
to TO TO
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in IN IN
the DT DT
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. . .
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here RB RB
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expect VBP VB
Ford NNP NNP
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or CC CC
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to TO TO
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for IN IN
Jaguar NNP NNP
. . .
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about IN RB
45 CD CD
minutes NNS NNS
, , ,
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rallied VBD VBD
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has VBZ VBZ
gone VBN VBN
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one CD CD
trader NN NN
at IN IN
about RB RB
3:15 CD CD
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, , ,
as IN IN
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Markets NNP NNP
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suddenly RB RB
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. . .
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Wall NNP NNP
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strengthened VBD VBD
, , ,
the DT DT
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room NN NN
went VBD VBD
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. . .
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shouted VBD VBD
as IN IN
their PRP$ PRP$
screens NNS NNS
posted VBD VBD
an DT DT
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loss NN NN
on IN IN
Wall NNP NNP
Street NNP NNP
. . .
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Then RB RB
, , ,
nine CD CD
minutes NNS NNS
later RB RBR
, , ,
Wall NNP NNP
Street NNP NNP
suddenly RB RB
rebounded VBD VBD
to TO TO
a DT DT
gain NN NN
on IN IN
the DT DT
day NN NN
. . .
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Rally NN NN
! . .
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! . .
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Rosen NNP NNP
, , ,
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shares NNS NNS
. . .
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`` `` ``
This DT DT
is VBZ VBZ
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'' '' ''
As IN IN
the DT DT
London NNP NNP
market NN NN
rallied VBD VBD
, , ,
some DT DT
wondered VBD VBD
whether IN IN
the DT DT
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of IN IN
worrying VBG VBG
and CC CC
jitters NNS NNS
had VBD VBD
been VBN VBN
worth JJ JJ
it PRP PRP
. . .
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closed VBD VBD
at IN IN
2163.4 CD CD
, , ,
its PRP$ PRP$
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for IN IN
the DT DT
day NN NN
, , ,
off RB IN
70.5 CD CD
, , ,
or CC CC
about IN RB
3.3 CD CD
% NN NN
. . .
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Paul NNP NNP
Nitze NNP NNP
's POS POS
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( ( (
Notable NNP NNP
& CC CC
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, , ,
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20 CD CD
) ) )
, , ,
`` `` ``
If IN IN
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for IN IN
you PRP PRP
, , ,
every DT DT
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thing NN NN
that WDT WDT
has VBZ VBZ
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chance NN NN
in IN IN
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of IN IN
going VBG VBG
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will MD MD
go VB VB
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at IN IN
least JJS JJS
once RB IN
a DT DT
year NN NN
, , ,
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way NN NN
of IN IN
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at IN IN
things NNS NNS
. . .
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Is VBZ VBZ
n't RB RB
it PRP PRP
just RB RB
as RB RB
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to TO TO
say VB VB
that IN IN
if IN IN
you PRP PRP
have VBP VBP
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for IN IN
you PRP PRP
, , ,
every DT DT
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thing NN NN
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has VBZ VBZ
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in IN IN
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of IN IN
going VBG VBG
right RB NN
will MD MD
go VB VB
right RB RB
at IN IN
least JJS JJS
once RB IN
a DT DT
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? . .
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n't RB RB
be VB VB
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pessimist NN NN
, , ,
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. . .
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Frank NNP NNP
Tremdine NNP NNP
The DT DT
House NNP NNP
Aviation NNP NNP
Subcommittee NNP NNP
approved VBD VBD
a DT DT
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that WDT WDT
would MD MD
give VB VB
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authority NN NN
to TO TO
review VB VB
and CC CC
approve VB VB
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of IN IN
major JJ JJ
U.S. NNP NNP
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. . .
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to TO TO
acquire VB VB
UAL NNP NNP
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, , ,
parent NN NN
of IN IN
United NNP NNP
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, , ,
spurred VBD VBD
quick JJ JJ
action NN NN
on IN IN
the DT DT
legislation NN NN
, , ,
introduced VBN VBD
Wednesday NNP NNP
and CC CC
approved VBN VBD
by IN IN
the DT DT
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on IN IN
a DT DT
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vote NN NN
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. . .
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The DT DT
bill NN NN
is VBZ VBZ
expected VBN VBN
to TO TO
be VB VB
taken VBN VBN
up RP RP
by IN IN
the DT DT
Public NNP NNP
Works NNP NNP
and CC CC
Transportation NNP NNP
Committee NNP NNP
tomorrow NN NN
, , ,
and CC CC
a DT DT
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vote NN NN
by IN IN
next JJ JJ
week NN NN
will MD MD
be VB VB
urged VBN VBN
. . .
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measure NN NN
drew VBD VBD
criticism NN NN
from IN IN
the DT DT
Bush NNP NNP
administration NN NN
and CC CC
a DT DT
parting NN VBG
shot NN NN
from IN IN
financier NN NN
Donald NNP NNP
Trump NNP NNP
, , ,
who WP WP
yesterday NN NN
withdrew VBD VBD
his PRP$ PRP$
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bid NN NN
for IN IN
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, , ,
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of IN IN
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. . .
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In IN IN
a DT DT
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to TO TO
subcommittee NN NN
Chairman NNP NNP
James NNP NNP
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D. NNP NNP
, , ,
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) ) )
, , ,
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criticized VBD VBD
the DT DT
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as IN IN
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to TO TO
thwart VB VB
his PRP$ PRP$
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for IN IN
AMR NNP NNP
, , ,
and CC CC
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it PRP PRP
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to TO TO
the DT DT
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of IN IN
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, , ,
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secretary NN NN
, , ,
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sent VBD VBD
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to TO TO
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's POS POS
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to TO TO
the DT DT
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`` `` ``
in IN IN
its PRP$ PRP$
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. . .
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'' '' ''
Rep. NNP NNP
Oberstar NNP NNP
brushed VBD VBD
off RP RP
Mr. NNP NNP
Trump NNP NNP
's POS POS
allegations NNS NNS
as IN IN
an DT DT
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for IN IN
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deal NN NN
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. . .
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said VBD VBD
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that IN IN
the DT DT
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had VBD VBD
n't RB RB
come VBN VBN
from IN IN
Transportation NNP NNP
Secretary NNP NNP
Samuel NNP NNP
Skinner NNP NNP
indicated VBD VBD
there EX EX
is VBZ VBZ
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room NN NN
'' '' ''
in IN IN
the DT DT
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's POS POS
position NN NN
. . .
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and CC CC
other JJ JJ
committee NN NN
members NNS NNS
repeatedly RB RB
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that IN IN
the DT DT
legislation NN NN
was VBD VBD
n't RB RB
a DT DT
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to TO TO
any DT DT
particular JJ JJ
market NN NN
situation NN NN
. . .
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But CC CC
they PRP PRP
cited VBD VBD
the DT DT
UAL NNP NNP
and CC CC
AMR NNP NNP
examples NNS NNS
as IN IN
reasons NNS NNS
to TO TO
move VB VB
quickly RB RB
to TO TO
enact VB VB
this DT DT
legislation NN NN
. . .
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Aides : NNS
both DT DT
in IN IN
the DT DT
House NNP NNP
and CC CC
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said VBD VBD
the DT DT
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of IN IN
the DT DT
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bid NN NN
for IN IN
AMR NNP NNP
is VBZ VBZ
n't RB RB
likely JJ JJ
to TO TO
deflate VB VB
efforts NNS NNS
to TO TO
push VB VB
the DT DT
legislation NN NN
. . .
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It PRP PRP
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still RB RB
on IN IN
the DT DT
fast JJ JJ
track NN NN
and CC CC
we PRP PRP
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want VBP VBP
to TO TO
do VB VB
it PRP PRP
, , ,
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said VBD VBD
one CD CD
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aide NN NN
. . .
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The DT DT
bill NN NN
is VBZ VBZ
aimed VBN VBN
at IN IN
addressing VBG VBG
the DT DT
concern NN NN
that IN IN
an DT DT
airline NN NN
might MD MD
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costly JJ JJ
safety NN NN
measures NNS NNS
to TO TO
pay VB VB
off RP RP
the DT DT
debt NN NN
incurred VBN VBN
in IN IN
a DT DT
leveraged JJ VBN
buy-out NN NN
. . .
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Currently RB RB
, , ,
the DT DT
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secretary NN NN
does VBZ VBZ
n't RB RB
have VB VB
clearly RB RB
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authority NN NN
to TO TO
block VB NN
mergers NNS NNS
, , ,
but CC CC
can MD MD
take VB VB
the DT DT
drastic JJ JJ
step NN NN
of IN IN
revoking VBG VBG
the DT DT
operating NN NN
certificate NN NN
of IN IN
any DT DT
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the DT DT
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considers VBZ VBZ
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. . .
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of IN IN
the DT DT
legislation NN NN
view VBP VBP
the DT DT
bill NN NN
as IN IN
an DT DT
effort NN NN
to TO TO
add VB VB
stability NN NN
and CC CC
certainty NN NN
to TO TO
the DT DT
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process NN NN
, , ,
and CC CC
to TO TO
preserve VB VB
the DT DT
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and CC CC
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of IN IN
the DT DT
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. . .
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In IN IN
general JJ JJ
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on IN IN
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at IN IN
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to TO TO
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of IN IN
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to TO TO
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of IN IN
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of IN IN
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. . .
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AG NNP NNP
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in IN IN
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to TO TO
309 CD CD
marks NNS NNS
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leaving VBG VBG
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for IN IN
investors NNS NNS
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the DT DT
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recovers : VBZ
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of IN IN
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of IN IN
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closed VBD VBD
off RB RB
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points NNS NNS
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at IN IN
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for IN IN
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having VBG VBG
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and CC CC
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and CC CC
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by IN IN
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shortly RB RB
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as IN IN
the DT DT
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Wall NNP NNP
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up RP RB
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who WP WP
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to TO TO
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in IN IN
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by IN IN
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with IN IN
large JJ JJ
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waiting VBG VBG
on IN IN
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late RB JJ
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for IN IN
bargains NNS NNS
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NCNB NNP NNP
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doubled VBN VBD
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net NN NN
rose VBD VBD
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expected VBN VBN
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with IN IN
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short-term JJ JJ
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to TO TO
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longer-term JJ JJ
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in IN IN
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to TO TO
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remain VBP VBP
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as IN IN
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costing VBG VBG
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from IN IN
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interest NN NN
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and CC CC
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on IN IN
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of IN IN
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increases NNS NNS
were VBD VBD
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in IN IN
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of IN IN
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Aug. NNP NNP
1 CD CD
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in IN IN
1986 CD CD
provided VBD VBD
$ $ $
130 CD CD
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in IN IN
open-bank : JJ
assistance NN NN
to TO TO
BancOklahoma NNP NNP
's POS POS
Bank NNP NNP
of IN IN
Oklahoma NNP NNP
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, , ,
unit NN NN
will MD MD
continue VB VB
to TO TO
maintain VB VB
$ $ $
90 CD CD
million CD CD
in IN IN
preferred JJ VBN
stock NN NN
in IN IN
the DT DT
Tulsa NNP NNP
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. . .
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exchange NN NN
for IN IN
the DT DT
other JJ JJ
$ $ $
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, , ,
the DT DT
FDIC NNP NNP
will MD MD
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additional JJ JJ
warrants NNS NNS
entitling VBG VBG
it PRP PRP
to TO TO
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60 CD CD
% NN NN
of IN IN
BancOklahoma NNP NNP
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from IN IN
the DT DT
55 CD CD
% NN NN
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under IN IN
terms NNS NNS
of IN IN
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1986 CD CD
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for IN IN
the DT DT
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they PRP PRP
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creditor NN NN
banks NNS NNS
will MD MD
receive VB VB
3.9 CD CD
million CD CD
shares NNS NNS
of IN IN
BancOklahoma NNP NNP
common JJ JJ
stock NN NN
and CC CC
the DT DT
proceeds NNS NNS
from IN IN
the DT DT
future JJ JJ
sales NNS NNS
of IN IN
four CD CD
subsidiary NN JJ
banks NNS NNS
to TO TO
private JJ JJ
buyers NNS NNS
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the DT DT
bank NN NN
holding VBG VBG
company NN NN
said VBD VBD
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shares NNS NNS
of IN IN
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debentures NNS NNS
and CC CC
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of IN IN
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in IN IN
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it PRP PRP
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up RP IN
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of IN IN
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and CC CC
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of IN IN
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7 CD CD
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% NN NN
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of IN IN
9 CD CD
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% NN NN
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and CC CC
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one CD CD
BSN NNP NNP
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at IN IN
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over IN IN
the DT DT
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. . .
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face NN NN
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for IN IN
each DT DT
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its PRP$ PRP$
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. . .
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at IN IN
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it PRP PRP
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of IN IN
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Michael NNP NNP
J. NNP NNP
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, , ,
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We PRP PRP
have VBP VBP
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that DT DT
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Lynch NNP NNP
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37 CD CD
% NN NN
, , ,
while IN IN
Bear NNP NNP
Stearns NNP NNP
Cos. NNP NNP
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7.5 CD CD
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in IN IN
net NN JJ
, , ,
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Group NNP NNP
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would MD MD
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without IN IN
a DT DT
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ago RB RB
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Merrill NNP NNP
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net NN JJ
was VBD VBD
$ $ $
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, , ,
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34 CD CD
cents NNS NNS
a DT DT
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, , ,
down RB RB
from IN IN
$ $ $
65.6 CD CD
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, , ,
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cents NNS NNS
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$ $ $
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, , ,
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. . .
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's POS POS
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in IN IN
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in IN IN
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for IN IN
its PRP$ PRP$
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of IN IN
19 CD CD
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on IN IN
reduced VBN VBN
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from IN IN
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. . .
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fell VBD VBD
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and CC CC
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. . .
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21 CD CD
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, , ,
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, , ,
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, , ,
on IN IN
higher JJR JJR
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and CC CC
on IN IN
strong JJ JJ
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of IN IN
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. . .
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interest NN NN
and CC CC
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. . .
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The DT DT
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also RB RB
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of IN IN
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the DT DT
discontinued VBN VBN
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and CC CC
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of IN IN
its PRP$ PRP$
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Stearns NNP NNP
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net NN NN
in IN IN
the DT DT
first JJ JJ
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ended VBN VBN
Sept. NNP NNP
29 CD CD
reached VBD VBD
$ $ $
22.1 CD CD
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, , ,
or CC CC
23 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
from IN IN
$ $ $
20.5 CD CD
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, , ,
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20 CD CD
cents NNS NNS
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, , ,
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the DT DT
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. . .
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Gross NNP JJ
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rose VBD VBD
21 CD CD
% NN NN
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$ $ $
580.4 CD CD
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from IN IN
$ $ $
478.9 CD CD
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. . .
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for IN IN
its PRP$ PRP$
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dropped VBD VBD
, , ,
the DT DT
securities NNS NNS
firm NN NN
said VBD VBD
. . .
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Investment NN NN
banking NN NN
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climbed VBD VBD
25 CD CD
% NN NN
, , ,
while IN IN
commission NN NN
revenue NN NN
advanced VBD VBD
31 CD CD
% NN NN
on IN IN
a DT DT
stronger JJR JJR
retail JJ JJ
market NN NN
. . .
<s>
Bear NNP NNP
Stearns NNP NNP
is VBZ VBZ
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for IN IN
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, , ,
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& CC CC
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, , ,
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investment NN NN
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and CC CC
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firm NN NN
. . .
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In IN IN
New NNP NNP
York NNP NNP
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at IN IN
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25 CD CD
cents NNS NNS
. . .
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Separately RB RB
, , ,
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posted VBD VBD
net JJ JJ
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for IN IN
the DT DT
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of IN IN
$ $ $
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, , ,
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41 CD CD
cents NNS NNS
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, , ,
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in IN IN
the DT DT
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's POS POS
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ago RB RB
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at IN IN
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of IN IN
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from IN IN
the DT DT
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of IN IN
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in IN IN
National NNP NNP
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prices NNS NNS
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it PRP PRP
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the DT DT
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day NN NN
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for IN IN
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, , ,
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, , ,
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the DT DT
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that DT DT
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of IN IN
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may MD MD
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a DT DT
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from IN IN
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on IN IN
itself PRP PRP
. . .
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there EX EX
is VBZ VBZ
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possibility NN NN
that IN IN
shutting VBG VBG
down RP RP
markets NNS NNS
will MD MD
intensify VB VB
fears NNS NNS
and CC CC
cause VB VB
an DT DT
even RB RB
more RBR RBR
abrupt JJ JJ
slide NN NN
in IN IN
prices NNS NNS
. . .
<s>
What WP WP
happened VBD VBD
Friday NNP NNP
was VBD VBD
the DT DT
worst JJS JJS
of IN IN
all DT DT
worlds NNS NNS
. . .
<s>
The DT DT
futures NNS NNS
exchanges NNS NNS
followed VBD VBD
their PRP$ PRP$
own JJ JJ
pre-set JJ JJ
circuit NN NN
breakers NNS NNS
and CC CC
shut VBD VBD
down RP RP
at IN IN
about RB RB
3 CD CD
p.m. NN NN
for IN IN
30 CD CD
minutes NNS NNS
, , ,
after IN IN
the DT DT
Standard NNP NNP
& CC CC
Poor NNP NNP
's POS POS
500 CD CD
stock NN NN
index NN NN
had VBD VBD
fallen VBN VBN
12 CD CD
points NNS NNS
, , ,
or CC CC
about IN RB
100 CD CD
points NNS NNS
on IN IN
the DT DT
Dow NNP NNP
Jones NNP NNP
index NN NN
. . .
<s>
Options NNS NNS
markets NNS NNS
stopped VBD VBD
trading VBG NN
in IN IN
many JJ JJ
securities NNS NNS
. . .
<s>
The DT DT
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
, , ,
under IN IN
its PRP$ PRP$
own JJ JJ
rules NNS NNS
, , ,
remained VBD VBD
open JJ JJ
. . .
<s>
With IN IN
nowhere RB RB
else RB RB
to TO TO
go VB VB
, , ,
sellers NNS NNS
, , ,
and CC CC
particularly RB RB
program NN NN
traders NNS NNS
, , ,
focused VBD VBD
all DT DT
their PRP$ PRP$
selling NN NN
on IN IN
the DT DT
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
. . .
<s>
As IN IN
liquidity NN NN
on IN IN
that DT DT
market NN NN
weakened VBD VBD
, , ,
prices NNS NNS
fell VBD VBD
sharply RB RB
. . .
<s>
Had VBD VBD
the DT DT
futures NNS NNS
and CC CC
options NNS NNS
markets NNS NNS
been VBN VBN
open JJ JJ
, , ,
additional JJ JJ
liquidity NN NN
would MD MD
have VB VB
been VBN VBN
provided VBN VBN
and CC CC
the DT DT
decline NN NN
, , ,
most RBS RBS
probably RB RB
, , ,
would MD MD
have VB VB
been VBN VBN
less RBR RBR
intense JJ JJ
. . .
<s>
At IN IN
3:30 CD CD
, , ,
after IN IN
intense JJ JJ
telephone NN NN
negotiations NNS NNS
between IN IN
the DT DT
trading NN NN
markets NNS NNS
and CC CC
Washington NNP NNP
, , ,
the DT DT
futures NNS NNS
exchanges NNS NNS
reopened VBD VBD
. . .
<s>
Futures NNS NNS
trading NN NN
, , ,
however RB RB
, , ,
was VBD VBD
halted VBN VBN
altogether RB RB
at IN IN
3:45 CD CD
, , ,
after IN IN
the DT DT
futures NNS NNS
markets NNS NNS
had VBD VBD
dropped VBN VBN
an DT DT
additional JJ JJ
30 CD CD
points NNS NNS
, , ,
which WDT WDT
is VBZ VBZ
the DT DT
daily JJ JJ
limit NN NN
for IN IN
price NN NN
declines NNS NNS
. . .
<s>
At IN IN
this DT DT
point NN NN
, , ,
the DT DT
options NNS NNS
markets NNS NNS
also RB RB
shut VBD VBD
down RP RP
and CC CC
once RB RB
more RBR RBR
left VBD VBD
all DT DT
sales NNS NNS
to TO TO
be VB VB
handled VBN VBN
by IN IN
the DT DT
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
. . .
<s>
It PRP PRP
is VBZ VBZ
time NN NN
to TO TO
recognize VB VB
that IN IN
the DT DT
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
, , ,
the DT DT
futures NNS NNS
markets NNS NNS
and CC CC
the DT DT
options NNS NNS
markets NNS NNS
, , ,
though IN IN
physically RB RB
separate JJ JJ
, , ,
have VBP VBP
actually RB RB
become VBN VBN
so RB RB
closely RB RB
intertwined VBN VBN
as IN IN
to TO TO
constitute VB VB
one CD CD
market NN NN
effectively RB RB
. . .
<s>
Traders NNS NNS
can MD MD
vary VB VB
their PRP$ PRP$
strategies NNS NNS
and CC CC
execute VB VB
their PRP$ PRP$
orders NNS NNS
in IN IN
any DT DT
one CD CD
of IN IN
them PRP PRP
. . .
<s>
It PRP PRP
therefore RB RB
makes VBZ VBZ
no DT DT
sense NN NN
for IN IN
each DT DT
market NN NN
to TO TO
adopt VB VB
different JJ JJ
circuit NN NN
breakers NNS NNS
. . .
<s>
To TO TO
achieve VB VB
maximum JJ NN
liquidity NN NN
and CC CC
minimize VB VB
price NN NN
volatility NN NN
, , ,
either CC CC
all DT DT
markets NNS NNS
should MD MD
be VB VB
open JJ JJ
to TO TO
trading VBG NN
or CC CC
none NN NN
. . .
<s>
Synchronized VBN VBN
circuit NN NN
breakers NNS NNS
would MD MD
not RB RB
have VB VB
halted VBN VBN
the DT DT
slide NN NN
in IN IN
prices NNS NNS
on IN IN
Friday NNP NNP
, , ,
but CC CC
they PRP PRP
probably RB RB
would MD MD
have VB VB
made VBN VBN
for IN IN
smoother JJR JJR
, , ,
less RBR RBR
volatile JJ JJ
executions NNS NNS
. . .
<s>
It PRP PRP
's VBZ POS
time NN NN
for IN IN
the DT DT
exchanges NNS NNS
and CC CC
the DT DT
Securities NNPS NNP
and CC CC
Exchange NNP NNP
Commission NNP NNP
to TO TO
agree VB VB
on IN IN
joint JJ JJ
conditions NNS NNS
for IN IN
halting VBG VBG
trading NN NN
or CC CC
staying VBG VBG
open JJ JJ
. . .
<s>
Let VB VB
's POS PRP
not RB RB
have VBP VB
one CD CD
market NN NN
shut VBD VBD
down RP RP
for IN IN
30 CD CD
minutes NNS NNS
when WRB WRB
the DT DT
Dow NNP NNP
declines VBZ VBZ
100 CD CD
points NNS NNS
and CC CC
another DT DT
shut VBN VBD
down RP RP
for IN IN
an DT DT
hour NN NN
after IN IN
a DT DT
250-point JJ JJ
decline NN NN
. . .
<s>
The DT DT
need NN NN
for IN IN
hurried VBN JJ
last-minute JJ JJ
telephone NN NN
negotiations NNS NNS
among IN IN
market NN NN
officials NNS NNS
will MD MD
disappear VB VB
once RB IN
rules NNS NNS
are VBP VBP
in IN IN
place NN NN
that IN WDT
synchronize : VBP
circuit NN NN
breakers NNS NNS
in IN IN
all DT DT
markets NNS NNS
. . .
<s>
The DT DT
new JJ JJ
circuit NN NN
breakers NNS NNS
, , ,
if IN IN
they PRP PRP
are VBP VBP
to TO TO
be VB VB
applied VBN VBN
at IN IN
all DT DT
, , ,
will MD MD
require VB VB
that IN IN
futures NNS NNS
and CC CC
options NNS NNS
trading NN NN
continue VBP VB
as RB RB
long RB RB
as IN IN
the DT DT
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
remains VBZ VBZ
open JJ JJ
. . .
<s>
The DT DT
rules NNS NNS
should MD MD
be VB VB
established VBN VBN
by IN IN
agreement NN NN
of IN IN
the DT DT
officials NNS NNS
of IN IN
all DT DT
affected JJ VBN
exchanges NNS NNS
acting VBG VBG
under IN IN
the DT DT
oversight NN NN
and CC CC
with IN IN
the DT DT
approval NN NN
of IN IN
the DT DT
government NN NN
regulatory JJ JJ
agencies NNS NNS
. . .
<s>
Should MD MD
the DT DT
SEC NNP NNP
and CC CC
the DT DT
Commodities NNP NNP
Futures NNPS NNP
Trading NNP NNP
Commission NNP NNP
( ( (
which WDT WDT
, , ,
with IN IN
the DT DT
SEC NNP NNP
, , ,
regulates VBZ VBZ
the DT DT
Chicago NNP NNP
stock-index NN JJ
markets NNS NNS
) ) )
be VB VB
unable JJ JJ
to TO TO
agree VB VB
, , ,
the DT DT
issue NN NN
may MD MD
have VB VB
to TO TO
be VB VB
resolved VBN VBN
by IN IN
decision NN NN
of IN IN
the DT DT
Treasury NNP NNP
secretary NN NN
. . .
<s>
In IN IN
many JJ JJ
ways NNS NNS
, , ,
our PRP$ PRP$
financial JJ JJ
markets NNS NNS
are VBP VBP
better RBR RBR
prepared JJ VBN
today NN RB
to TO TO
handle VB VB
a DT DT
decline NN NN
than IN IN
they PRP PRP
were VBD VBD
two CD CD
years NNS NNS
ago RB RB
. . .
<s>
The DT DT
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
now RB RB
has VBZ VBZ
the DT DT
capacity NN NN
to TO TO
handle VB VB
a DT DT
volume NN NN
of IN IN
nearly RB RB
a DT DT
billion CD CD
shares NNS NNS
a DT DT
day NN NN
. . .
<s>
Telephone NNP NN
service NN NN
has VBZ VBZ
been VBN VBN
improved VBN VBN
for IN IN
customers NNS NNS
trying VBG VBG
to TO TO
reach VB VB
their PRP$ PRP$
brokers NNS NNS
, , ,
and CC CC
specialists NNS NNS
-- : :
who WP WP
I PRP PRP
believe VBP VBP
should MD MD
stay VB VB
, , ,
despite IN IN
the DT DT
urgings NNS NNS
of IN IN
some DT DT
post-crash JJ JJ
critics NNS NNS
-- : :
have VBP VB
larger JJR JJR
capital NN NN
positions NNS NNS
. . .
<s>
( ( (
Of IN IN
course NN NN
, , ,
specialists NNS NNS
' POS POS
actions NNS NNS
alone RB RB
can MD MD
never RB RB
prevent VB VB
a DT DT
major JJ JJ
crack NN NN
in IN IN
stock NN NN
prices NNS NNS
. . .
<s>
Witness VB VB
the DT DT
fact NN NN
that IN IN
trading NN NN
in IN IN
some DT DT
stocks NNS NNS
closed VBD VBD
early JJ JJ
Friday NNP NNP
and CC CC
opened VBD VBD
late JJ JJ
Monday NNP NNP
because IN IN
of IN IN
an DT DT
excess NN NN
of IN IN
sell NN NN
orders NNS NNS
. . .
<s>
) ) )
But CC CC
the DT DT
task NN NN
of IN IN
improving VBG VBG
market NN NN
performance NN NN
remains VBZ VBZ
unfinished JJ JJ
. . .
<s>
Mr. NNP NNP
Freund NNP NNP
, , ,
former JJ JJ
chief JJ JJ
economist NN NN
of IN IN
the DT DT
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
, , ,
is VBZ VBZ
a DT DT
professor NN NN
of IN IN
economics NNS NNS
at IN IN
Pace NNP NNP
University NNP NNP
's POS POS
business NN NN
school NN NN
in IN IN
New NNP NNP
York NNP NNP
. . .
<s>
A DT DT
UNIFIED : JJ
EUROPE : NNP
poses NNS VBZ
labor NN NN
problems NNS NNS
and CC CC
prospects NNS NNS
for IN IN
U.S. NNP NNP
firms NNS NNS
. . .
<s>
The DT DT
`` `` ``
social JJ JJ
dimension NN NN
'' '' ''
-- : :
worker NN NN
concerns NNS NNS
-- : :
of IN IN
the DT DT
European NNP NNP
Community NNP NNP
's POS POS
plan NN NN
to TO TO
open VB VB
its PRP$ PRP$
internal JJ JJ
borders NNS NNS
in IN IN
1992 CD CD
could MD MD
set VB VB
the DT DT
effort NN NN
`` `` ``
off IN IN
the DT DT
rails NNS NNS
'' '' ''
if IN IN
not RB RB
done VBN VBN
reasonably RB RB
, , ,
says VBZ VBZ
General NNP NNP
Electric NNP NNP
senior JJ JJ
vice NN NN
president NN NN
Frank NNP NNP
Doyle NNP NNP
. . .
<s>
U.S. NNP NNP
companies NNS NNS
wanting VBG VBG
to TO TO
expand VB VB
in IN IN
Europe NNP NNP
face VBP VBP
`` `` ``
tough JJ JJ
pressure NN NN
'' '' ''
from IN IN
unions NNS NNS
in IN IN
nations NNS NNS
such JJ JJ
as IN IN
West NNP NNP
Germany NNP NNP
, , ,
which WDT WDT
play VBP VBP
a DT DT
big JJ JJ
consulting NN NN
role NN NN
in IN IN
management NN NN
decisions NNS NNS
, , ,
he PRP PRP
says VBZ VBZ
. . .
<s>
FMC NNP NNP
Corp. NNP NNP
and CC CC
Baxter NNP NNP
International NNP NNP
say VBP VBP
unions NNS NNS
also RB RB
wo MD MD
n't RB RB
like VB VB
plant NN NN
relocations NNS NNS
and CC CC
needed VBD VBN
restructuring NN NN
, , ,
which WDT WDT
means VBZ VBZ
layoffs NNS NNS
. . .
<s>
Many JJ JJ
employers NNS NNS
have VBP VBP
already RB RB
begun VBN VBN
moving VBG VBG
to TO TO
southern JJ JJ
countries NNS NNS
such JJ JJ
as IN IN
Spain NNP NNP
and CC CC
Italy NNP NNP
, , ,
where WRB WRB
wages NNS NNS
are VBP VBP
low JJ JJ
and CC CC
unions NNS NNS
are VBP VBP
weaker JJR JJR
; : :
demand NN NN
for IN IN
trained VBN VBN
labor NN NN
and CC CC
managers NNS NNS
will MD MD
rise VB VB
there RB RB
, , ,
FMC NNP NNP
says VBZ VBZ
. . .
<s>
Pfizer NNP NNP
, , ,
Fluor NNP NNP
and CC CC
GE NNP NNP
see VBP VBP
big JJ JJ
`` `` ``
EC NNP NNP
92 CD CD
'' '' ''
pluses NNS NNS
: : :
a DT DT
push NN NN
for IN IN
job NN NN
training NN NN
and CC CC
ease NN NN
in IN IN
moving VBG VBG
and CC CC
finding VBG VBG
workers NNS NNS
. . .
<s>
CLUBBING VBG VBG
A DT DT
FAN NN NN
was VBD VBD
n't RB RB
the DT DT
Baltimore NNP NNP
Orioles NNP NNP
' POS POS
fault NN NN
. . .
<s>
So RB RB
said VBD VBD
a DT DT
federal JJ JJ
judge NN NN
, , ,
in IN IN
a DT DT
case NN NN
involving VBG VBG
two CD CD
players NNS NNS
for IN IN
the DT DT
minor JJ JJ
league NN NN
Bluefield NNP NNP
, , ,
Va. NNP NNP
, , ,
Orioles NNP NNP
, , ,
a DT DT
Baltimore NNP NNP
farm NN NN
team NN NN
. . .
<s>
The DT DT
players NNS NNS
were VBD VBD
heckled VBN VBN
by IN IN
a DT DT
patron NN NN
during IN IN
a DT DT
July NNP NNP
4 CD CD
, , ,
1988 CD CD
, , ,
game NN NN
with IN IN
the DT DT
Martinsville NNP NNP
Phillies NNPS NNP
. . .
<s>
Like IN IN
its PRP$ PRP$
parent NN NN
that DT DT
year NN NN
, , ,
`` `` ``
Bluefield NN NNP
was VBD VBD
not RB RB
having VBG VBG
a DT DT
good JJ JJ
year NN NN
, , ,
'' '' ''
the DT DT
judge NN NN
said VBD VBD
. . .
<s>
After IN IN
the DT DT
game NN NN
( ( (
`` `` ``
Bluefield NNP NNP
lost VBD VBD
, , ,
9-8 CD CD
, , ,
stranding VBG VBG
three CD CD
runners NNS NNS
in IN IN
... : :
the DT DT
ninth JJ JJ
, , ,
'' '' ''
he PRP PRP
noted VBD VBD
) ) )
, , ,
trouble NN NN
began VBD VBD
. . .
<s>
More JJR JJR
taunting VBG NN
in IN IN
the DT DT
parking NN NN
lot NN NN
, , ,
the DT DT
players NNS NNS
said VBD VBD
, , ,
led VBD VBD
to TO TO
a DT DT
fight NN NN
. . .
<s>
The DT DT
fan NN NN
said VBD VBD
he PRP PRP
was VBD VBD
punched VBN VBN
and CC CC
kicked VBN VBN
by IN IN
one CD CD
player NN NN
and CC CC
that IN IN
the DT DT
other JJ JJ
broke VBD VBD
his PRP$ PRP$
jaw NN NN
with IN IN
a DT DT
baseball NN NN
bat NN NN
. . .
<s>
The DT DT
judge NN NN
dismissed VBD VBD
the DT DT
fan NN NN
's POS POS
suit NN NN
against IN IN
the DT DT
team NN NN
, , ,
however RB RB
, , ,
ruling VBG VBG
the DT DT
Orioles NNP NNP
innocent JJ JJ
of IN IN
negligent JJ JJ
hiring NN NN
, , ,
and CC CC
not RB RB
responsible JJ JJ
for IN IN
a DT DT
fight NN NN
that WDT WDT
was VBD VBD
outside IN IN
the DT DT
players NNS NNS
' POS POS
employment NN NN
. . .
<s>
PROPOSALS NNS NNS
ARISE VBP VBP
for IN IN
coping VBG VBG
with IN IN
the DT DT
shortage NN NN
of IN IN
nurses NNS NNS
. . .
<s>
An DT DT
Association NNP NNP
of IN IN
Academic NNP NNP
Health NNP NNP
Centers NNPS NNP
report NN NN
urges VBZ VBZ
freeing VBG VBG
nurses NNS NNS
from IN IN
duties NNS NNS
that WDT WDT
do VBP VBP
n't RB RB
require VB VB
special JJ JJ
skills NNS NNS
. . .
<s>
It PRP PRP
also RB RB
recommends VBZ VBZ
better JJR JJR
retirement NN NN
and CC CC
day-care JJ NN
benefits NNS NNS
, , ,
and CC CC
basing VBG VBG
pay NN NN
on IN IN
education NN NN
, , ,
experience NN NN
and CC CC
nurses NNS NNS
' POS POS
demanding VBG JJ
work NN NN
schedules NNS NNS
. . .
<s>
But CC CC
it PRP PRP
opposes VBZ VBZ
an DT DT
American NNP NNP
Medical NNP NNP
Association NNP NNP
proposal NN NN
for IN IN
creating VBG VBG
a DT DT
`` `` ``
registered JJ JJ
care NN NN
technologist NN NN
, , ,
'' '' ''
as IN IN
`` `` ``
potentially RB RB
divisive JJ JJ
'' '' ''
; : :
it PRP PRP
says VBZ VBZ
the DT DT
job NN NN
would MD MD
entail VB VB
an DT DT
unwanted JJ JJ
new JJ JJ
doctor NN NN
's POS POS
`` `` ``
bedside NN NN
'' '' ''
extension NN NN
. . .
<s>
Over IN IN
a DT DT
third JJ JJ
of IN IN
618 CD CD
hospitals NNS NNS
surveyed VBN VBN
by IN IN
consultant NN NN
Hewitt NNP NNP
Associates NNPS NNP
use VBP VBP
a DT DT
`` `` ``
clinical JJ JJ
ladder NN NN
, , ,
'' '' ''
basing VBG VBG
advancement NN NN
on IN IN
performance NN NN
and CC CC
education NN NN
. . .
<s>
Many JJ RB
also RB RB
use VBP VB
recruiting VBG VBG
bonuses NNS NNS
, , ,
tuition NN NN
reimbursement NN NN
, , ,
loan NN NN
repayment NN NN
or CC CC
child-care JJ JJ
help NN NN
. . .
<s>
Some DT DT
give VBP VBP
lump-sum JJ JJ
incentives NNS NNS
. . .
<s>
MRA NNP NNP
Staffing NNP NNP
Systems NNPS NNP
signs NNS VBZ
up RP RP
nurses NNS NNS
for IN IN
paid VBN VBN
travel NN NN
, , ,
promising VBG VBG
annual JJ JJ
income NN NN
up IN IN
to TO TO
$ $ $
50,000 CD CD
and CC CC
free JJ JJ
or CC CC
subsidized JJ VBN
housing NN NN
. . .
<s>
TREATING VBG VBG
EMPLOYEES NNS NNS
with IN IN
respect NN NN
is VBZ VBZ
crucial JJ JJ
for IN IN
managers NNS NNS
, , ,
says VBZ VBZ
consultant NN NN
Hay NNP NNP
Group NNP NNP
after IN IN
surveys NNS NNS
of IN IN
a DT DT
million CD CD
workers NNS NNS
. . .
<s>
It PRP PRP
's VBZ VBZ
in IN IN
their PRP$ PRP$
top JJ JJ
five CD CD
`` `` ``
work NN NN
values NNS NNS
. . .
<s>
'' '' ''
Fully RB RB
80 CD CD
% NN NN
of IN IN
employees NNS NNS
who WP WP
say VBP VBP
their PRP$ PRP$
bosses NNS NNS
treat VBP VBP
them PRP PRP
with IN IN
respect NN NN
, , ,
but CC CC
only RB RB
a DT DT
third JJ JJ
of IN IN
those DT DT
who WP WP
do VBP VBP
n't RB RB
feel VB VB
respected VBN VBN
say VBP VBP
they PRP PRP
're VBP VBP
satisfied VBN VBN
with IN IN
where WRB WRB
they PRP PRP
work VBP VBP
. . .
<s>
SPRUCING VBG VBG
UP RP RP
THE DT DT
DIGS NNS NNS
: : :
About IN RB
200 CD CD
employees NNS NNS
of IN IN
the DT DT
Maryland NNP NNP
Department NNP NNP
of IN IN
Economic NNP NNP
and CC CC
Employment NNP NNP
Development NNP NNP
for IN IN
four CD CD
months NNS NNS
painted VBN VBD
walls NNS NNS
, , ,
polished VBN VBD
and CC CC
carpeted : VBD
floors NNS NNS
, , ,
bought VBD VBD
plants NNS NNS
, , ,
cleaned VBD VBD
windows NNS NNS
and CC CC
blinds NNS NNS
, , ,
and CC CC
hung VBD VBD
pictures NNS NNS
at IN IN
the DT DT
agency NN NN
's POS POS
Baltimore NNP NNP
office NN NN
. . .
<s>
The DT DT
3,000 CD CD
hours NNS NNS
of IN IN
work NN NN
will MD MD
save VB VB
the DT DT
state NN NN
$ $ $
55,000 CD CD
. . .
<s>
CURBING VBG VBG
WAGE NN NN
BOOSTS NNS NNS
will MD MD
get VB VB
high JJ JJ
priority NN NN
again RB RB
in IN IN
1990 CD CD
collective JJ JJ
bargaining NN NN
, , ,
a DT DT
Bureau NNP NNP
of IN IN
National NNP NNP
Affairs NNP NNP
survey NN NN
of IN IN
250 CD CD
companies NNS NNS
with IN IN
pacts NNS NNS
expiring VBG VBG
next JJ JJ
year NN NN
indicates VBZ VBZ
. . .
<s>
Despite IN IN
labor-shortage JJ NN
warnings NNS NNS
, , ,
80 CD CD
% NN NN
aim NN VBP
for IN IN
first-year JJ JJ
wage NN NN
increases NNS NNS
of IN IN
under IN IN
4 CD CD
% NN NN
; : :
and CC CC
77 CD CD
% NN NN
say VBP VBP
they PRP PRP
'd MD MD
try VB VB
to TO TO
replace VB VB
workers NNS NNS
, , ,
if IN IN
struck VBN VBN
, , ,
or CC CC
would MD MD
consider VB VB
it PRP PRP
. . .
<s>
TEMPORARY : JJ
WORKERS NNS NNS
have VBP VBP
good JJ JJ
educations NNS NNS
, , ,
the DT DT
National NNP NNP
Association NNP NNP
of IN IN
Temporary NNP NNP
Services NNP NNP
says VBZ VBZ
; : :
its PRP$ PRP$
survey NN NN
of IN IN
2,508 CD CD
such JJ JJ
employees NNS NNS
shows VBZ VBZ
82 CD CD
% NN NN
with IN IN
more JJR JJR
than IN IN
a DT DT
high-school NN JJ
education NN NN
, , ,
and CC CC
31 CD CD
% NN NN
with IN IN
college NN NN
degrees NNS NNS
. . .
<s>
About IN RB
12 CD CD
% NN NN
have VBP VBP
retired VBN VBN
from IN IN
a DT DT
full-time JJ JJ
job NN NN
, , ,
while IN IN
54 CD CD
% NN NN
were VBD VBD
asked VBN VBN
to TO TO
stay VB VB
on IN RP
full JJ JJ
time NN NN
. . .
<s>
HOME-SALE : JJ
LOSSES : NNS
rise NN VBP
, , ,
but CC CC
they PRP PRP
're VBP VBP
often RB RB
covered VBN VBN
by IN IN
employers NNS NNS
. . .
<s>
But CC CC
they PRP PRP
search NN VBP
for IN IN
ways NNS NNS
to TO TO
limit VB VB
the DT DT
damage NN NN
. . .
<s>
A DT DT
third JJ JJ
of IN IN
439 CD CD
companies NNS NNS
surveyed VBN VBN
by IN IN
the DT DT
Employee NNP NNP
Relocation NNP NNP
Council NNP NNP
report NN VBP
a DT DT
rise NN NN
in IN IN
1988 CD CD
sales NNS NNS
losses NNS NNS
over IN IN
1987 CD CD
. . .
<s>
About IN RB
72 CD CD
% NN NN
reimburse VB VBP
for IN IN
all DT DT
or CC CC
some DT DT
losses NNS NNS
. . .
<s>
Since IN IN
1984 CD CD
, , ,
more JJR JJR
companies NNS NNS
give VBP VBP
sales-loss JJ JJ
aid NN NN
, , ,
as IN IN
many JJ JJ
real-estate NN NN
values NNS NNS
depreciated : VBD
, , ,
the DT DT
council NN NN
says VBZ VBZ
. . .
<s>
RJR NNP NNP
Nabisco NNP NNP
pays VBZ VBZ
up IN IN
to TO TO
$ $ $
30,000 CD CD
of IN IN
losses NNS NNS
, , ,
including VBG VBG
improvements NNS NNS
. . .
<s>
Goodrich NNP NNP
wo MD MD
n't RB RB
ensure VB VB
loss NN NN
coverage NN NN
, , ,
but CC CC
will MD MD
prevent VB VB
a DT DT
`` `` ``
catastrophic JJ JJ
loss NN NN
'' '' ''
; : :
it PRP PRP
has VBZ VBZ
given VBN VBN
some DT DT
employees NNS NNS
the DT DT
full JJ JJ
purchase NN NN
price NN NN
when WRB WRB
values NNS NNS
fell VBD VBD
from IN IN
concern NN NN
over IN IN
dangers NNS NNS
posed VBN VBN
by IN IN
a DT DT
disposal NN NN
site NN NN
. . .
<s>
Federal NNP NNP
Express NNP NNP
, , ,
Dow NNP NNP
Chemical NNP NNP
, , ,
Ford NNP NNP
and CC CC
National NNP NNP
City NNP NNP
Corp. NNP NNP
will MD MD
buy VB VB
the DT DT
home NN NN
or CC CC
let VB VB
the DT DT
worker NN NN
sell NN VB
to TO TO
an DT DT
outside JJ JJ
firm NN NN
, , ,
but CC CC
usually RB RB
wo MD MD
n't RB RB
cover VB VB
a DT DT
loss NN NN
. . .
<s>
Since IN IN
1984 CD CD
, , ,
firms NNS NNS
offering VBG VBG
prepurchase : JJ
house NN NN
appraisals NNS NNS
, , ,
to TO TO
deter VB VB
overpaying VBG VBG
, , ,
rose VBD VBD
to TO TO
40 CD CD
% NN NN
of IN IN
those DT DT
the DT DT
council NN NN
polled VBD VBD
, , ,
from IN IN
28 CD CD
% NN NN
. . .
<s>
THE DT DT
CHECKOFF NNP NN
: : :
The DT DT
National NNP NNP
Academy NNP NNP
of IN IN
Engineering NNP NNP
gives VBZ VBZ
two CD CD
inventors NNS NNS
of IN IN
the DT DT
semiconductor NN NN
microchip NN NN
a DT DT
$ $ $
350,000 CD CD
achievement NN NN
award NN NN
... : :
. . .
<s>
Now RB RB
, , ,
that DT DT
's VBZ VBZ
reactionary JJ JJ
: : :
Letter NNP NNP
Carriers NNPS NNP
union NN NN
president NN NN
Vincent NNP NNP
Sombrotto NNP NNP
accuses VBZ VBZ
Philadelphia NNP NNP
postmaster NN NN
Charles NNP NNP
James NNP NNP
of IN IN
`` `` ``
12th JJ JJ
century NN NN
... : :
oppressive JJ JJ
management NN NN
tactics NNS NNS
. . .
<s>
Yesterday NN NN
was VBD VBD
, , ,
in IN IN
the DT DT
words NNS NNS
of IN IN
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
Chairman NNP NNP
John NNP NNP
J. NNP NNP
Phelan NNP NNP
Jr. NNP NNP
, , ,
just RB RB
your PRP$ PRP$
`` `` ``
reasonably RB RB
normal JJ JJ
, , ,
400 CD CD
million-share JJ JJ
, , ,
up IN RB
88-points JJ JJ
day NN NN
. . .
<s>
'' '' ''
When WRB WRB
it PRP PRP
was VBD VBD
all DT DT
over RB RB
and CC CC
stocks NNS NNS
had VBD VBD
staged VBD VBN
a DT DT
huge JJ JJ
recovery NN NN
, , ,
Big NNP NNP
Board NNP NNP
officials NNS NNS
were VBD VBD
self-congratulatory JJ JJ
about IN IN
how WRB WRB
well RB RB
the DT DT
day NN NN
had VBD VBD
gone VBN VBN
. . .
<s>
They PRP PRP
said VBD VBD
the DT DT
exchange NN NN
's POS POS
trading NN NN
procedures NNS NNS
, , ,
personnel NNS NNS
, , ,
equipment NN NN
and CC CC
links NNS NNS
with IN IN
other JJ JJ
exchanges NNS NNS
could MD MD
n't RB RB
have VB VB
performed VBN VBN
better RBR RBR
. . .
<s>
`` `` ``
We PRP PRP
had VBD VBD
no DT DT
operating NN NN
problems NNS NNS
at IN IN
all DT DT
, , ,
'' '' ''
Mr. NNP NNP
Phelan NNP NNP
said VBD VBD
after IN IN
the DT DT
market NN NN
closed VBD VBD
. . .
<s>
`` `` ``
All PDT DT
the DT DT
things NNS NNS
that IN IN
we PRP PRP
set VBD VBD
up RP RP
to TO TO
slow VB VB
down RP RP
the DT DT
process NN NN
, , ,
to TO TO
let VB VB
people NNS NNS
know VB VB
that IN IN
the DT DT
market NN NN
was VBD VBD
in IN IN
an DT DT
extreme JJ JJ
position NN NN
, , ,
worked VBD VBD
extremely RB RB
well RB RB
. . .
<s>
'' '' ''
Prices NNS NNS
for IN IN
the DT DT
416.3 CD CD
million CD CD
shares NNS NNS
that IN WDT
changed VBN VBD
hands NNS NNS
during IN IN
the DT DT
session NN NN
were VBD VBD
carried VBN VBN
on IN IN
the DT DT
exchange NN NN
's POS POS
trading NN NN
tape NN NN
with IN IN
barely RB RB
a DT DT
delay NN NN
, , ,
officials NNS NNS
said VBD VBD
. . .
<s>
While IN IN
reaching VBG VBG
blockbuster JJ NN
proportions NNS NNS
yesterday NN NN
, , ,
the DT DT
volume NN NN
was VBD VBD
still RB RB
well RB RB
within IN IN
the DT DT
600 CD CD
million-share JJ JJ
capacity NN NN
that IN IN
the DT DT
exchange NN NN
has VBZ VBZ
said VBN VBD
it PRP PRP
can MD MD
handle VB VB
daily RB RB
since IN IN
beefing VBG VBG
up RP RP
its PRP$ PRP$
computers NNS NNS
after IN IN
the DT DT
October NNP NNP
1987 CD CD
crash NN NN
. . .
<s>
The DT DT
so-called JJ JJ
circuit NN NN
breakers NNS NNS
devised VBN VBN
by IN IN
the DT DT
Big NNP NNP
Board NNP NNP
and CC CC
the DT DT
Chicago NNP NNP
Mercantile NNP NNP
Exchange NNP NNP
to TO TO
quell VB VB
free JJ JJ
falls VBZ NNS
in IN IN
stock NN NN
and CC CC
futures NNS NNS
prices NNS NNS
were VBD VBD
n't RB RB
triggered VBN VBN
yesterday NN NN
because IN IN
the DT DT
markets NNS NNS
were VBD VBD
higher JJR JJR
for IN IN
most JJS RBS
of IN IN
the DT DT
day NN NN
. . .
<s>
Despite IN IN
traders NNS NNS
' POS POS
complaints NNS NNS
, , ,
Mr. NNP NNP
Phelan NNP NNP
said VBD VBD
the DT DT
links NNS NNS
with IN IN
the DT DT
Chicago NNP NNP
futures NNS NNS
market NN NN
worked VBD VBD
as IN RB
planned VBN VBN
in IN IN
Friday NNP NNP
's POS POS
rout NN NN
to TO TO
provide VB VB
a DT DT
cooling-off JJ JJ
period NN NN
. . .
<s>
Of IN IN
greater JJR JJR
help NN NN
, , ,
the DT DT
Big NNP NNP
Board NNP NNP
chairman NN NN
said VBD VBD
, , ,
was VBD VBD
the DT DT
`` `` ``
natural JJ JJ
circuit NN NN
breaker NN NN
'' '' ''
of IN IN
the DT DT
weekend NN NN
, , ,
that WDT WDT
provided VBD VBD
a DT DT
breathing NN NN
period NN NN
that IN IN
`` `` ``
brought VBD VBN
rationality NN NN
back RB RB
to TO TO
the DT DT
market NN NN
. . .
<s>
Chicken NNP NN
Chains : NNS
Ruffled VBN VBN
By IN IN
Loss NN NN
of IN IN
Customers NNS NNS
FAST-FOOD : NN
chicken NN NN
chains NNS NNS
, , ,
faced VBN VBN
with IN IN
a DT DT
worsening VBG VBG
business NN NN
slump NN NN
, , ,
are VBP VBP
struggling VBG VBG
to TO TO
hatch VB VB
some DT DT
new JJ JJ
marketing NN NN
strategies NNS NNS
. . .
<s>
The DT DT
Crest NNP NNP
Report NNP NNP
, , ,
which WDT WDT
tracks VBZ VBZ
consumer NN NN
purchases NNS NNS
, , ,
says VBZ VBZ
customer NN NN
traffic NN NN
at IN IN
chicken NN NN
restaurants NNS NNS
fell VBD VBD
10 CD CD
% NN NN
in IN IN
the DT DT
second JJ JJ
quarter NN NN
, , ,
while IN IN
the DT DT
overall JJ JJ
fast-food NN NN
customer NN NN
count NN NN
was VBD VBD
down RB RB
2 CD CD
% NN NN
. . .
<s>
Chicken NNP NN
business NN NN
is VBZ VBZ
off RP JJ
largely RB RB
because IN IN
of IN IN
more JJR JJR
competition NN NN
from IN IN
grocery-store JJ JJ
convenience NN NN
food NN NN
, , ,
home-delivered JJ JJ
pizza NN NN
and CC CC
other JJ JJ
takeout NN NN
fare NN NN
, , ,
says VBZ VBZ
a DT DT
spokesman NN NN
for IN IN
the DT DT
report NN NN
, , ,
a DT DT
publication NN NN
of IN IN
NPD NNP NNP
Group NNP NNP
, , ,
a DT DT
market NN NN
research NN NN
firm NN NN
in IN IN
Port NNP NNP
Washington NNP NNP
, , ,
N.Y NNP NNP
. . .
<s>
The DT DT
loss NN NN
of IN IN
more JJR JJR
customers NNS NNS
is VBZ VBZ
the DT DT
latest JJS JJS
in IN IN
a DT DT
string NN NN
of IN IN
problems NNS NNS
. . .
<s>
Church NNP NNP
's POS POS
Fried NNP NNP
Chicken NNP NNP
Inc. NNP NNP
and CC CC
Popeye NNP NNP
's POS POS
Famous NNP NNP
Fried NNP NNP
Chicken NNP NNP
Inc. NNP NNP
, , ,
which WDT WDT
have VBP VBP
merged VBN VBN
, , ,
are VBP VBP
still RB RB
troubled VBN VBN
by IN IN
overlapping VBG JJ
restaurant NN NN
locations NNS NNS
. . .
<s>
Chicken NNP NN
chains NNS NNS
also RB RB
are VBP VBP
feeling VBG VBG
more JJR JJR
pressure NN NN
from IN IN
McDonald NNP NNP
's POS POS
Corp. NNP NNP
, , ,
which WDT WDT
introduced VBD VBD
its PRP$ PRP$
McChicken NNP NNP
sandwich NN NN
this DT DT
year NN NN
and CC CC
recently RB RB
tested VBD VBD
the DT DT
sale NN NN
of IN IN
individual JJ JJ
pieces NNS NNS
of IN IN
chicken NN NN
. . .
<s>
New JJ JJ
management NN NN
at IN IN
Kentucky NNP NNP
Fried NNP NNP
Chicken NNP NNP
, , ,
a DT DT
unit NN NN
of IN IN
PepsiCo NNP NNP
Inc. NNP NNP
, , ,
has VBZ VBZ
fought VBN VBN
back RB RB
with IN IN
new JJ JJ
medium NN NN
and CC CC
large JJ JJ
chicken NN NN
sandwiches NNS NNS
for IN IN
the DT DT
lunch NN NN
crowd NN NN
. . .
<s>
And CC CC
the DT DT
chain NN NN
is VBZ VBZ
testing VBG VBG
products NNS NNS
that WDT WDT
are VBP VBP
n't RB RB
fried JJ VBN
, , ,
such JJ JJ
as IN IN
`` `` ``
char-grilled JJ JJ
'' '' ''
chicken NN NN
, , ,
to TO TO
try VB VB
to TO TO
win VB VB
health-conscious JJ JJ
consumers NNS NNS
. . .
<s>
Kentucky NNP NNP
Fried NNP NNP
Chicken NNP NNP
also RB RB
is VBZ VBZ
testing VBG VBG
home-delivery : NN
of IN IN
chicken NN NN
, , ,
which WDT WDT
could MD MD
be VB VB
a DT DT
hit NN NN
with IN IN
stay-at-home JJ JJ
diners NNS NNS
. . .
<s>
But CC CC
some DT DT
fast-food NN NN
industry NN NN
analysts NNS NNS
say VBP VBP
problems NNS NNS
with IN IN
keeping VBG VBG
chicken NN NN
warm JJ JJ
and CC CC
fresh JJ JJ
must MD MD
be VB VB
solved VBN VBN
first RB RB
. . .
<s>
A DT DT
Kentucky NNP NNP
Fried NNP NNP
Chicken NNP NNP
spokesman NN NN
, , ,
however RB RB
, , ,
disputed VBD VBD
the DT DT
notion NN NN
that IN IN
the DT DT
delivery NN NN
service NN NN
experienced VBD VBD
problems NNS NNS
in IN IN
some DT DT
markets NNS NNS
where WRB WRB
testing NN NN
has VBZ VBZ
been VBN VBN
discontinued VBN VBN
. . .
<s>
He PRP PRP
says VBZ VBZ
the DT DT
test NN NN
is VBZ VBZ
continuing VBG VBG
in IN IN
Chicago NNP NNP
, , ,
Columbus NNP NNP
, , ,
Ohio NNP NNP
, , ,
and CC CC
a DT DT
few JJ JJ
other JJ JJ
cities NNS NNS
. . .
<s>
The DT DT
advertising NN NN
industry NN NN
is VBZ VBZ
buzzing VBG VBG
with IN IN
rumors NNS NNS
that IN IN
Kentucky NNP NNP
Fried NNP NNP
Chicken NNP NNP
will MD MD
drop VB VB
Young NNP NNP
& CC CC
Rubicam NNP NNP
and CC CC
seek VB VB
a DT DT
new JJ JJ
ad NN NN
agency NN NN
. . .
<s>
But CC CC
the DT DT
company NN NN
declines VBZ VBZ
to TO TO
comment VB VB
. . .
<s>
Emanuel NNP NNP
Goldman NNP NNP
, , ,
a DT DT
PaineWebber NNP NNP
Inc. NNP NNP
analyst NN NN
, , ,
predicts VBZ VBZ
Kentucky NNP NNP
Fried NNP NNP
Chicken NNP NNP
will MD MD
post VB VB
an DT DT
11 CD CD
% NN NN
drop NN NN
in IN IN
1989 CD CD
net JJ JJ
income NN NN
. . .
<s>
`` `` ``
They PRP PRP
've VBP VBP
been VBN VBN
laggard JJ JJ
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
, , ,
`` `` ``
but CC CC
they PRP PRP
'll MD MD
have VB VB
to TO TO
become VB VB
more RBR RBR
aggressive JJ JJ
. . .
<s>
'' '' ''
Reluctant JJ JJ
Advertisers NNS NNS
Try VBP VBP
Soft-Sell NNP JJ
Spots : NNS
CALL NNP VB
IT NNP PRP
un-advertising JJ NN
. . .
<s>
Pittsburgh NNP NNP
consultant NN NN
David NNP NNP
Bear NNP NNP
is VBZ VBZ
selling VBG VBG
a DT DT
soft JJ JJ
approach NN NN
to TO TO
clients NNS NNS
who WP WP
want VBP VBP
exposure NN NN
yet RB CC
shun VB VBP
pushy JJ JJ
ads NNS NNS
. . .
<s>
His PRP$ PRP$
ploy NN NN
: : :
60-second JJ JJ
radio NN NN
spots NNS NNS
that WDT WDT
offer VBP VBP
helpful JJ JJ
hints NNS NNS
. . .
<s>
The DT DT
only JJ JJ
plug NN NN
for IN IN
the DT DT
sponsor NN NN
is VBZ VBZ
a DT DT
brief JJ JJ
mention NN NN
at IN IN
the DT DT
end NN NN
of IN IN
the DT DT
spot NN NN
. . .
<s>
The DT DT
messages NNS NNS
resemble VBP VBP
the DT DT
Business NNP NNP
Traveler NNP NNP
, , ,
a DT DT
daily JJ JJ
dose NN NN
of IN IN
travel NN NN
tips NNS NNS
developed VBN VBN
by IN IN
Mr. NNP NNP
Bear NNP NNP
and CC CC
sponsored VBN VBN
by IN IN
travel NN NN
agencies NNS NNS
in IN IN
several JJ JJ
major JJ JJ
cities NNS NNS
. . .
<s>
New JJ JJ
un-advertisers NNS NNS
include VBP VBP
Burt NNP NNP
Hill NNP NNP
Kosar NNP NNP
Rittlemann NNP NNP
Associates NNPS NNP
, , ,
a DT DT
Butler NNP NNP
, , ,
Pa. NNP NNP
, , ,
architectural JJ JJ
firm NN NN
. . .
<s>
Its PRP$ PRP$
radio NN NN
series NN NN
features NNS VBZ
such JJ JJ
spots NNS NNS
as IN IN
`` `` ``
Floodlights NNS NNP
: : :
Evening NN NNP
Wear VB NNP
for IN IN
Urban NNP NNP
Structures NNP NNP
'' '' ''
and CC CC
`` `` ``
Building NNP VBG
a DT DT
Place NNP NN
to TO TO
Park NNP VB
. . .
<s>
'' '' ''
A DT DT
harder RBR JJR
sell NN NN
, , ,
says VBZ VBZ
John NNP NNP
Kosar NNP NNP
, , ,
the DT DT
firm NN NN
's POS POS
president NN NN
, , ,
would MD MD
`` `` ``
detract VB VB
from IN IN
the DT DT
profession NN NN
. . .
<s>
'' '' ''
Hospitals NNS NNS
have VBP VBP
signed VBN VBN
up RP RP
to TO TO
use VB VB
the DT DT
messages NNS NNS
to TO TO
promote VB VB
fundraisers NNS NNS
, , ,
and CC CC
Equitable NNP NNP
Gas NNP NNP
Co. NNP NNP
is VBZ VBZ
considering VBG VBG
the DT DT
format NN NN
to TO TO
offer VB VB
energy NN NN
tips NNS NNS
to TO TO
consumers NNS NNS
. . .
<s>
But CC CC
such JJ JJ
spots NNS NNS
can MD MD
be VB VB
too RB RB
soft JJ JJ
. . .
<s>
`` `` ``
There EX EX
's VBZ VBZ
always RB RB
a DT DT
risk NN NN
of IN IN
lost VBN VBN
messages NNS NNS
, , ,
'' '' ''
says VBZ VBZ
John NNP NNP
Fitzgerald NNP NNP
, , ,
chairman NN NN
of IN IN
Ketchum NNP NNP
Advertising NNP NNP
USA NNP NNP
, , ,
which WDT WDT
created VBD VBD
similar JJ JJ
radio NN NN
spots NNS NNS
for IN IN
Pittsburgh NNP NNP
National NNP NNP
Bank NNP NNP
. . .
<s>
`` `` ``
It PRP PRP
's VBZ VBZ
a DT DT
question NN NN
of IN IN
how WRB WRB
much JJ JJ
credibility NN NN
you PRP PRP
gain VBP VBP
for IN IN
the DT DT
possible JJ JJ
loss NN NN
of IN IN
recognition NN NN
. . .
<s>
'' '' ''
Retailer NN NN
Sees VBZ VBZ
Pitfalls NNP NNS
In IN IN
Environmental NNP JJ
Push NNP NN
HERE RB RB
'S VBZ VBZ
a DT DT
retailer NN NN
that WDT WDT
's VBZ VBZ
getting VBG VBG
tough JJ JJ
in IN IN
the DT DT
push NN NN
for IN IN
environmentally RB RB
safe JJ JJ
packaging NN NN
and CC CC
products NNS NNS
. . .
<s>
Big JJ NNP
Bear JJ NNP
Supermarkets NNS NNP
Inc. NNP NNP
, , ,
a DT DT
grocery NN NN
chain NN NN
based VBN VBN
in IN IN
San NNP NNP
Diego NNP NNP
, , ,
plans VBZ VBZ
to TO TO
display VB VB
shelf NN NN
cards NNS NNS
and CC CC
distribute VB VB
pamphlets NNS NNS
recommending VBG VBG
products NNS NNS
deemed VBN VBN
safe JJ JJ
for IN IN
the DT DT
environment NN NN
. . .
<s>
The DT DT
choices NNS NNS
will MD MD
be VB VB
based VBN VBN
on IN IN
research NN NN
by IN IN
the DT DT
San NNP NNP
Diego NNP NNP
Environmental NNP NNP
Health NNP NNP
Coalition NNP NNP
and CC CC
will MD MD
include VB VB
products NNS NNS
like IN IN
Murphy NNP NNP
's POS POS
Oil NNP NNP
Soap NNP NNP
and CC CC
other JJ JJ
noncorrosive JJ JJ
cleaners NNS NNS
. . .
<s>
But CC CC
the DT DT
chain NN NN
is VBZ VBZ
quickly RB RB
realizing VBG VBG
the DT DT
pitfalls NNS NNS
of IN IN
such JJ JJ
endorsements NNS NNS
. . .
<s>
For IN IN
example NN NN
, , ,
it PRP PRP
recommends VBZ VBZ
nonchlorinated JJ JJ
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detergent NN NN
and CC CC
puts VBZ VBZ
Sunlight : NNP
on IN IN
its PRP$ PRP$
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safe JJ JJ
list NN NN
. . .
<s>
That IN DT
does VBZ VBZ
n't RB RB
thrill VB VB
Procter NNP NNP
& CC CC
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, , ,
maker NN NN
of IN IN
Cascade NNP NNP
dishwasher : NN
detergent NN NN
. . .
<s>
A DT DT
company NN NN
spokesman NN NN
questioned VBD VBD
the DT DT
validity NN NN
of IN IN
the DT DT
list NN NN
, , ,
noting VBG VBG
that IN DT
chlorine NN NN
is VBZ VBZ
present JJ JJ
in IN IN
all DT DT
major JJ JJ
dishwasher NN NN
detergents NNS NNS
. . .
<s>
In IN IN
fact NN NN
, , ,
Lever NNP NNP
Bros. NNP NNP
confirms VBZ VBZ
that IN IN
its PRP$ PRP$
Sunlight : NNP
brand NN NN
does VBZ VBZ
contain VB VB
chlorine NN NN
bleach NN NN
, , ,
even RB RB
though IN IN
it PRP PRP
is VBZ VBZ
n't RB RB
listed VBN VBN
on IN IN
the DT DT
label NN NN
for IN IN
the DT DT
powder NN NN
version NN NN
. . .
<s>
Thomas NNP NNP
G. NNP NNP
Dahlen NNP NNP
, , ,
Big NNP NNP
Bear NNP NNP
's POS POS
executive JJ JJ
vice NN NN
president NN NN
, , ,
said VBD VBD
the DT DT
chain NN NN
is VBZ VBZ
still RB RB
reviewing VBG VBG
its PRP$ PRP$
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list NN NN
to TO TO
avoid VB VB
such JJ JJ
problems NNS NNS
. . .
<s>
`` `` ``
Our PRP$ PRP$
intent NN NN
is VBZ VBZ
to TO TO
promote VB VB
the DT DT
best JJS JJS
alternative NN NN
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
`` `` ``
And CC CC
it PRP PRP
's VBZ VBZ
important JJ JJ
that IN IN
we PRP PRP
be VB VB
accurate JJ JJ
. . .
<s>
'' '' ''
But CC CC
in IN IN
the DT DT
end NN NN
, , ,
customers NNS NNS
' POS POS
wishes NNS NNS
are VBP VBP
what WP WP
will MD MD
prevail VB VB
. . .
<s>
Big NNP NNP
Bear NNP NNP
does VBZ VBZ
n't RB RB
care VB VB
for IN IN
disposable JJ JJ
diapers NNS NNS
, , ,
which WDT WDT
are VBP VBP
n't RB RB
biodegradable JJ JJ
. . .
<s>
Yet CC CC
parents NNS NNS
demand VBP VBP
them PRP PRP
. . .
<s>
Says VBZ VBZ
Mr. NNP NNP
Dahlen NNP NNP
, , ,
`` `` ``
We PRP PRP
'll MD MD
still RB RB
be VB VB
forced VBN VBN
to TO TO
sell VB VB
items NNS NNS
we PRP PRP
might MD MD
not RB RB
philosophically RB RB
agree VB VB
with IN IN
. . .
<s>
'' '' ''
Odds NNS NNS
and CC CC
Ends NNS NNS
NEATNESS NNS NN
does VBZ VBZ
count NN VB
-- : :
at IN IN
least JJS JJS
in IN IN
the DT DT
grocery NN NN
store NN NN
. . .
<s>
A DT DT
study NN NN
by IN IN
Safeway NNP NNP
's POS POS
Scanner NNP NNP
Marketing NNP NNP
Research NNP NNP
shows VBZ VBZ
soap NN NN
sales NNS NNS
climbed VBD VBD
5 CD CD
% NN NN
when WRB WRB
bars NNS NNS
were VBD VBD
neatly RB RB
stacked VBN VBN
on IN IN
shelves NNS NNS
instead RB RB
of IN IN
dumped VBN VBD
in IN IN
a DT DT
wire NN NN
basket NN NN
... : :
. . .
<s>
Which WDT WDT
celebrity NN NN
endorsers NNS NNS
are VBP VBP
most RBS RBS
believable JJ JJ
? . .
<s>
For IN IN
the DT DT
third JJ JJ
year NN NN
in IN IN
a DT DT
row NN NN
, , ,
consumers NNS NNS
voted VBD VBD
Bill NNP NNP
Cosby NNP NNP
first RB JJ
and CC CC
James NNP NNP
Garner NNP NNP
second JJ JJ
in IN IN
persuasiveness NN NN
as IN IN
spokesmen NNS NNS
in IN IN
TV NN NN
commercials NNS NNS
, , ,
according VBG VBG
to TO TO
Video NNP NNP
Storyboard NNP NNP
Tests NNP NNP
, , ,
New NNP NNP
York NNP NNP
. . .
<s>
Michael NNP NNP
J. NNP NNP
Fox NNP NNP
replaced VBD VBD
Bruce NNP NNP
Willis NNP NNP
in IN IN
third JJ JJ
place NN NN
; : :
Cher NNP NNP
placed VBD VBD
fourth JJ JJ
for IN IN
the DT DT
second JJ JJ
time NN NN
. . .
<s>
Health NNP NNP
and CC CC
Human NNP NNP
Services NNP NNP
Secretary NNP NNP
Louis NNP NNP
Sullivan NNP NNP
has VBZ VBZ
chosen VBN VBN
Antonia NNP NNP
Novello NNP NNP
to TO TO
be VB VB
the DT DT
next JJ JJ
surgeon NN NN
general NN NN
, , ,
Bush NNP NNP
administration NN NN
officials NNS NNS
said VBD VBD
. . .
<s>
If IN IN
she PRP PRP
is VBZ VBZ
nominated VBN VBN
by IN IN
President NNP NNP
Bush NNP NNP
and CC CC
confirmed VBN VBN
by IN IN
the DT DT
Senate NNP NNP
, , ,
Dr. NNP NNP
Novello NNP NNP
would MD MD
succeed VB VB
C. NNP NNP
Everett NNP NNP
Koop NNP NNP
, , ,
who WP WP
rattled JJ VBD
liberals NNS NNS
and CC CC
conservatives NNS NNS
alike RB RB
with IN IN
his PRP$ PRP$
outspoken JJ JJ
views NNS NNS
on IN IN
a DT DT
range NN NN
of IN IN
health NN NN
issues NNS NNS
. . .
<s>
Dr. NNP NNP
Novello NNP NNP
, , ,
an DT DT
expert NN NN
on IN IN
pediatric JJ JJ
kidney NN NN
diseases NNS NNS
, , ,
is VBZ VBZ
deputy JJ JJ
director NN NN
of IN IN
the DT DT
National NNP NNP
Institute NNP NNP
of IN IN
Child NNP NNP
Health NNP NNP
and CC CC
Human NNP NNP
Development NNP NNP
. . .
<s>
She PRP PRP
has VBZ VBZ
also RB RB
served VBN VBN
on IN IN
several JJ JJ
task NN NN
forces NNS NNS
on IN IN
acquired VBN VBN
immune JJ JJ
deficiency NN NN
syndrome NN NN
. . .
<s>
Dr. NNP NNP
Novello NNP NNP
's POS POS
office NN NN
said VBD VBD
she PRP PRP
would MD MD
n't RB RB
talk VB VB
with IN IN
reporters NNS NNS
, , ,
and CC CC
it PRP PRP
refused VBD VBD
to TO TO
release VB VB
any DT DT
information NN NN
about IN IN
her PRP PRP
. . .
<s>
The DT DT
newsletter NN NN
Medicine NNP NNP
& CC CC
Health NNP NNP
, , ,
which WDT WDT
first RB RB
disclosed VBD VBD
her PRP$ PRP$
selection NN NN
by IN IN
Dr. NNP NNP
Sullivan NNP NNP
, , ,
said VBD VBD
she PRP PRP
is VBZ VBZ
44 CD CD
years NNS NNS
old JJ JJ
and CC CC
she PRP PRP
studied VBD VBD
at IN IN
the DT DT
University NNP NNP
of IN IN
Puerto NNP NNP
Rico NNP NNP
School NNP NNP
of IN IN
Medicine NNP NNP
. . .
<s>
The DT DT
continuing VBG VBG
series NN NN
of IN IN
HUD NNP NNP
scandals NNS NNS
is VBZ VBZ
a DT DT
sadly RB RB
predictable JJ JJ
result NN NN
of IN IN
pork-barrel JJ NN
politics NNS NNS
. . .
<s>
Nevertheless RB RB
, , ,
lobbies NNS NNS
such JJ JJ
as IN IN
the DT DT
National NNP NNP
Association NNP NNP
of IN IN
Home NNP NNP
Builders NNPS NNP
( ( (
NAHB NNPS NNP
) ) )
continue VBP VBP
to TO TO
pressure VB VB
Capitol NNP NNP
Hill NNP NNP
for IN IN
more RBR JJR
special-interest JJ JJ
spending NN NN
. . .
<s>
Kent NNP NNP
Colton NNP NNP
, , ,
NAHB NNP NNP
executive JJ JJ
vice NN NN
president NN NN
, , ,
argues VBZ VBZ
that IN IN
the DT DT
U.S. NNP NNP
faces VBZ VBZ
a DT DT
multifaceted JJ JJ
housing NN NN
crisis NN NN
-- : :
reduced JJ VBN
affordability NN NN
of IN IN
homes NNS NNS
for IN IN
first-time JJ JJ
buyers NNS NNS
, , ,
increased VBN VBN
homelessness NN NN
, , ,
and CC CC
lower JJR JJR
apartment NN NN
construction NN NN
rates NNS NNS
-- : :
that WDT DT
will MD MD
be VB VB
`` `` ``
very RB RB
difficult JJ JJ
'' '' ''
to TO TO
solve VB VB
`` `` ``
without IN IN
expanded VBN VBN
federal JJ JJ
resources NNS NNS
. . .
<s>
'' '' ''
There EX EX
's VBZ VBZ
nothing NN NN
unusual JJ JJ
about IN IN
business NN NN
groups NNS NNS
pushing VBG VBG
for IN IN
more JJR JJR
government NN NN
spending NN NN
. . .
<s>
But CC CC
the DT DT
NAHB NNP NNP
was VBD VBD
created VBN VBN
in IN IN
1943 CD CD
out IN IN
of IN IN
an DT DT
organization NN NN
that WDT WDT
made VBD VBD
its PRP$ PRP$
name NN NN
fighting VBG VBG
a DT DT
Roosevelt NNP NNP
administration NN NN
proposal NN NN
to TO TO
take VB VB
over RP RP
all DT DT
defense NN NN
housing NN NN
production NN NN
. . .
<s>
Through IN IN
the DT DT
years NNS NNS
the DT DT
association NN NN
has VBZ VBZ
been VBN VBN
an DT DT
active JJ JJ
member NN NN
of IN IN
the DT DT
taxpayer NN NN
's POS POS
coalition NN NN
, , ,
pushing VBG VBG
for IN IN
such JJ JJ
initiatives NNS NNS
as IN IN
the DT DT
balanced-budget NN JJ
amendment NN NN
. . .
<s>
Yet RB RB
on IN IN
matters NNS NNS
close RB JJ
to TO TO
, , ,
er : UH
, , ,
home NN NN
... : :
`` `` ``
The DT DT
HUD NNP NNP
budget NN NN
has VBZ VBZ
dropped VBN VBN
by IN IN
more JJR JJ
than IN IN
70 CD CD
% NN NN
since IN IN
1980 CD CD
, , ,
'' '' ''
argues VBZ VBZ
Mr. NNP NNP
Colton NNP NNP
. . .
<s>
`` `` ``
We PRP PRP
've VBP VBP
taken VBN VBN
more RBR JJR
than IN IN
our PRP$ PRP$
fair JJ JJ
share NN NN
. . .
<s>
I PRP PRP
would MD MD
n't RB RB
have VB VB
a DT DT
problem NN NN
if IN IN
other JJ JJ
programs NNS NNS
had VBD VBD
taken VBN VBN
a DT DT
similar JJ JJ
hit NN NN
. . .
<s>
'' '' ''
But CC CC
NAHB NNP NNP
support NN NN
for IN IN
subsidies NNS NNS
is VBZ VBZ
not RB RB
related VBN VBN
to TO TO
the DT DT
current JJ JJ
housing NN NN
crunch NN NN
; : :
over IN IN
the DT DT
years NNS NNS
the DT DT
NAHB NNP NNP
has VBZ VBZ
backed VBN VBN
a DT DT
host NN NN
of IN IN
public JJ JJ
programs NNS NNS
. . .
<s>
It PRP PRP
once RB RB
pushed VBD VBD
for IN IN
a DT DT
national JJ JJ
housing NN NN
production NN NN
goal NN NN
set VBN VBN
by IN IN
the DT DT
federal JJ JJ
government NN NN
and CC CC
has VBZ VBZ
regularly RB RB
advanced VBN VBN
anti-recession JJ JJ
housing NN NN
measures NNS NNS
. . .
<s>
Moreover RB RB
, , ,
explains VBZ VBZ
one CD CD
HUD NNP NNP
official NN NN
, , ,
the DT DT
NAHB NNP NNP
remains VBZ VBZ
susceptible JJ JJ
to TO TO
internal JJ JJ
pressure NN NN
from IN IN
members NNS NNS
that WDT WDT
specialize VB VBP
in IN IN
subsidized JJ VBN
production NN NN
. . .
<s>
The DT DT
association NN NN
is VBZ VBZ
pushing VBG VBG
an DT DT
extensive JJ JJ
and CC CC
expensive JJ JJ
wish-list NN NN
, , ,
which WDT WDT
would MD MD
substantially RB RB
boost VB VB
spending NN NN
above IN IN
the DT DT
current JJ JJ
level NN NN
of IN IN
more JJR JJ
than IN IN
$ $ $
15 CD CD
billion CD CD
annually RB RB
. . .
<s>
It PRP PRP
would MD MD
like VB VB
to TO TO
peg VBP VB
the DT DT
ceiling NN NN
on IN IN
Federal NNP NNP
Housing NNP NNP
Administration NNP NNP
mortgage NN NN
guarantees NNS NNS
to TO TO
95 CD CD
% NN NN
of IN IN
the DT DT
median JJ JJ
price NN NN
in IN IN
a DT DT
particular JJ JJ
market NN NN
, , ,
instead RB RB
of IN IN
limiting VBG VBG
it PRP PRP
to TO TO
$ $ $
101,250 CD CD
; : :
reduce VB VB
( ( (
or CC CC
even RB RB
eliminate VB VB
) ) )
FHA NNP NNP
down-payment NN NN
requirements NNS NNS
and CC CC
increase VB VB
the DT DT
availability NN NN
of IN IN
variable-rate JJ JJ
mortgages NNS NNS
; : :
expand VB VB
the DT DT
Veterans NNPS NNP
Affairs NNP NNP
Department NNP NNP
loan NN NN
guarantee NN NN
program NN NN
; : :
provide VB VB
`` `` ``
adequate JJ JJ
'' '' ''
funding NN NN
for IN IN
the DT DT
Farmers NNP NNP
Home NNP NNP
Administration NNP NNP
( ( (
FmHA NNP NNP
) ) )
; : :
increase VB VB
federal JJ JJ
funding NN NN
and CC CC
tax NN NN
incentives NNS NNS
for IN IN
the DT DT
construction NN NN
of IN IN
low-income JJ JJ
and CC CC
rental JJ NN
housing NN NN
, , ,
including VBG VBG
$ $ $
4 CD CD
billion CD CD
in IN IN
block NN NN
grants NNS NNS
to TO TO
states NNS NNS
and CC CC
localities NNS NNS
; : :
and CC CC
`` `` ``
fully RB RB
fund NN VB
'' '' ''
the DT DT
McKinney NNP NNP
Act NNP NNP
, , ,
a DT DT
$ $ $
656 CD CD
million CD CD
potpourri NN NN
for IN IN
the DT DT
homeless NN JJ
. . .
<s>
Direct JJ JJ
federal JJ JJ
subsidies NNS NNS
for IN IN
housing NN NN
construction NN NN
have VBP VBP
proved VBN VBN
intolerably RB RB
expensive JJ JJ
in IN IN
the DT DT
past NN NN
, , ,
and CC CC
inevitably RB RB
are VBP VBP
twisted VBN VBN
to TO TO
the DT DT
benefit NN NN
of IN IN
well-connected JJ JJ
developers NNS NNS
and CC CC
lobbyists NNS NNS
, , ,
as IN IN
demonstrated VBN VBN
by IN IN
the DT DT
ongoing JJ JJ
HUD NNP NNP
scandal NN NN
, , ,
or CC CC
congressmen NNS NNS
. . .
<s>
Indirect : JJ
subsidies NNS NNS
, , ,
through IN IN
the DT DT
FHA NNP NNP
, , ,
for IN IN
instance NN NN
, , ,
are VBP VBP
little RB RB
better JJR JJR
. . .
<s>
Though IN NNP
Mr. NNP NNP
Colton NNP NNP
says VBZ VBZ
expanding VBG VBG
FHA NNP NNP
lending NN NN
would MD MD
result VB VB
in IN IN
`` `` ``
no DT DT
cost NN NN
to TO TO
the DT DT
government NN NN
, , ,
'' '' ''
the DT DT
mere JJ JJ
diversion NN NN
of IN IN
funds NNS NNS
from IN IN
other JJ JJ
parts NNS NNS
of IN IN
the DT DT
economy NN NN
and CC CC
from IN IN
other JJ JJ
forms NNS NNS
of IN IN
housing NN NN
( ( (
such JJ JJ
as IN IN
low-income JJ NN
) ) )
to TO TO
the DT DT
single-family JJ JJ
home NN NN
market NN NN
would MD MD
result VB VB
in IN IN
a DT DT
major JJ JJ
expense NN NN
. . .
<s>
More RBR RBR
important JJ JJ
, , ,
housing NN NN
programs NNS NNS
run VBP VBN
by IN IN
HUD NNP NNP
, , ,
the DT DT
VA NNP NNP
, , ,
and CC CC
FmHA NNP NNP
are VBP VBP
awash : RB
in IN IN
red JJ JJ
ink NN NN
. . .
<s>
The DT DT
FHA NNP NNP
alone RB RB
lost VBD VBD
$ $ $
4.2 CD CD
billion CD CD
in IN IN
fiscal JJ JJ
1988 CD CD
; : :
the DT DT
government NN NN
's POS POS
equity NN NN
in IN IN
the DT DT
agency NN NN
, , ,
essentially RB RB
its PRP$ PRP$
reserve NN NN
fund NN NN
, , ,
fell VBD VBD
to TO TO
minus CC IN
$ $ $
2.9 CD CD
billion CD CD
. . .
<s>
The DT DT
federal JJ JJ
government NN NN
has VBZ VBZ
had VBN VBD
to TO TO
pump VB VB
in IN RP
$ $ $
2.28 CD CD
billion CD CD
into IN IN
the DT DT
VA NNP NNP
housing NN NN
program NN NN
since IN IN
1984 CD CD
to TO TO
keep VB VB
the DT DT
fund NN NN
afloat RB RB
and CC CC
the DT DT
VA NNP NNP
requested VBD VBD
an DT DT
additional JJ JJ
$ $ $
120 CD CD
million CD CD
for IN IN
the DT DT
fiscal JJ JJ
year NN NN
just RB RB
ended VBD VBD
. . .
<s>
All DT DT
told VBD VBD
, , ,
the DT DT
federal JJ JJ
government NN NN
already RB RB
guarantees VBZ VBZ
more JJR JJR
than IN IN
$ $ $
900 CD CD
billion CD CD
of IN IN
mortgages NNS NNS
. . .
<s>
In IN IN
its PRP$ PRP$
nicely RB RB
produced VBN VBN
publication NN NN
`` `` ``
Where WRB WRB
Will NNP MD
Our PRP$ PRP$
Children NNP NNS
Live NNP VB
? . .
<s>
'' '' ''
the DT DT
NAHB NNP NNP
does VBZ VBZ
acknowledge VB VB
that IN IN
`` `` ``
of IN IN
course NN NN
, , ,
the DT DT
full JJ JJ
measure NN NN
of IN IN
housing NN NN
affordability NN NN
can MD MD
not RB RB
be VB VB
provided VBN VBN
by IN IN
the DT DT
federal JJ JJ
government NN NN
. . .
<s>
'' '' ''
It PRP PRP
points VBZ VBZ
to TO TO
the DT DT
pernicious JJ JJ
impact NN NN
of IN IN
local JJ JJ
government NN NN
regulation NN NN
, , ,
particularly RB RB
zoning NN NN
and CC CC
building NN NN
fees NNS NNS
, , ,
which WDT WDT
pushes VBZ VBZ
the DT DT
price NN NN
of IN IN
housing NN NN
out IN IN
of IN IN
the DT DT
reach NN NN
of IN IN
low- : JJ
and CC CC
middle-income JJ JJ
people NNS NNS
. . .
<s>
But CC CC
while IN IN
the DT DT
NAHB NNP NNP
has VBZ VBZ
suggested VBN VBN
actions NNS NNS
that WDT IN
states VBZ NNS
and CC CC
localities NNS NNS
should MD MD
take VB VB
to TO TO
reduce VB VB
regulatory JJ JJ
barriers NNS NNS
, , ,
the DT DT
association NN NN
has VBZ VBZ
proposed VBN VBN
no DT DT
activist JJ JJ
legislative JJ JJ
program NN NN
-- : :
comparable JJ JJ
to TO TO
, , ,
say VB VB
, , ,
its PRP$ PRP$
detailed JJ VBN
request NN NN
for IN IN
more RBR JJR
federal JJ JJ
subsidies NNS NNS
-- : :
to TO TO
eliminate VB VB
counterproductive JJ JJ
controls NNS NNS
. . .
<s>
The DT DT
association NN NN
, , ,
a DT DT
majority NN NN
of IN IN
whose WP$ WP$
156,000 CD CD
members NNS NNS
build VBP VBP
fewer JJR JJR
than IN IN
25 CD CD
units NNS NNS
a DT DT
year NN NN
, , ,
is VBZ VBZ
like IN IN
many JJ JJ
other JJ JJ
business NN NN
lobbies NNS NNS
. . .
<s>
Explains NNS VBZ
Sheila NNP NNP
MacDonald NNP NNP
of IN IN
the DT DT
National NNP NNP
Taxpayers NNPS NNP
Union NNP NNP
: : :
`` `` ``
It PRP PRP
treads VBZ VBZ
in IN IN
two CD CD
worlds NNS NNS
. . .
<s>
The DT DT
builders NNS NNS
like IN VBP
the DT DT
subsidies NNS NNS
, , ,
but CC CC
at IN IN
the DT DT
same JJ JJ
time NN NN
they PRP PRP
tend VBP VBP
to TO TO
be VB VB
fiscal JJ JJ
conservatives NNS NNS
in IN IN
terms NNS NNS
of IN IN
major JJ JJ
issues NNS NNS
, , ,
such JJ JJ
as IN IN
the DT DT
balanced-budget NN JJ
amendment NN NN
. . .
<s>
'' '' ''
Unfortunately RB RB
, , ,
the DT DT
organization NN NN
's POS POS
desire NN NN
for IN IN
pork NN NN
tends VBZ VBZ
to TO TO
override VB VB
its PRP$ PRP$
commitment NN NN
to TO TO
overall JJ JJ
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responsibility NN NN
. . .
<s>
Two CD CD
years NNS NNS
ago RB RB
when WRB WRB
the DT DT
NAHB NNP NNP
lobbied VBD VBD
for IN IN
the DT DT
$ $ $
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billion CD CD
omnibus JJ NN
housing NN NN
bill NN NN
, , ,
the DT DT
organization NN NN
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basically RB RB
dropped VBD VBD
out IN RP
of IN IN
the DT DT
taxpayers NNS NNS
' POS POS
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, , ,
'' '' ''
says VBZ VBZ
Ms. NNP NNP
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. . .
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As IN IN
Mr. NNP NNP
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of IN IN
the DT DT
NAHB NNP NNP
acknowledges VBZ VBZ
: : :
`` `` ``
Government NN NNP
is VBZ VBZ
not RB RB
going VBG VBG
to TO TO
solve VB VB
the DT DT
problem NN NN
... : :
. . .
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The DT DT
real JJ JJ
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is VBZ VBZ
to TO TO
have VB VB
the DT DT
economy NN NN
working VBG VBG
and CC CC
interest NN NN
rates NNS NNS
down RP RB
. . .
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'' '' ''
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for IN IN
HUD NNP NNP
will MD MD
increase VB VB
the DT DT
deficit NN NN
and CC CC
destabilize VB VB
the DT DT
economy NN NN
; : :
more JJR JJR
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to TO TO
municipalities NNS NNS
that WDT WDT
are VBP VBP
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their PRP$ PRP$
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housing NN NN
markets NNS NNS
will MD MD
further RB RBR
insulate VB VB
them PRP PRP
from IN IN
the DT DT
destructive JJ JJ
effects NNS NNS
of IN IN
their PRP$ PRP$
policies NNS NNS
. . .
<s>
Is VBZ VBZ
this DT DT
what WP WP
the DT DT
home NN NN
builders NNS NNS
want VBP VBP
? . .
<s>
Mr. NNP NNP
Bandow NNP NNP
is VBZ VBZ
a DT DT
Cato NNP NNP
Institute NNP NNP
fellow NN NN
. . .
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( ( (
See VB VB
related VBN VBN
story NN NN
: : :
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And CC CC
Bills NNS NNS
to TO TO
Make VB VB
Wishes : NNS
Come VB VB
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'' '' ''
-- : :
WSJ NNP NNP
Oct. NNP NNP
17 CD CD
, , ,
1989 CD CD
. . .
<s>
In IN IN
an DT DT
attempt NN NN
to TO TO
give VB VB
new JJ JJ
momentum NN NN
to TO TO
European NNP NNP
Community NNP NNP
plans VBZ NNS
for IN IN
a DT DT
single JJ JJ
currency NN NN
, , ,
EC NNP NNP
government NN NN
leaders NNS NNS
are VBP VBP
likely JJ JJ
to TO TO
agree VB VB
to TO TO
set VB VB
a DT DT
date NN NN
for IN IN
starting VBG VBG
formal JJ JJ
talks NNS NNS
on IN IN
amending VBG VBG
the DT DT
EC NNP NNP
's POS POS
founding VBG NN
Treaty NNP NNP
of IN IN
Rome NNP NNP
. . .
<s>
According VBG VBG
to TO TO
diplomatic JJ JJ
sources NNS NNS
in IN IN
Brussels NNP NNP
, , ,
most JJS JJS
EC NNP NNP
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agree VBP VBP
that IN IN
talks NNS NNS
should MD MD
begin VB VB
in IN IN
the DT DT
second JJ JJ
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of IN IN
1990 CD CD
, , ,
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will MD MD
make VB VB
a DT DT
declaration NN NN
on IN IN
that DT DT
during IN IN
a DT DT
summit NN NN
meeting NN NN
in IN IN
Strasbourg NNP NNP
, , ,
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, , ,
on IN IN
Dec. NNP NNP
8 CD CD
and CC CC
9 CD CD
. . .
<s>
The DT DT
only JJ JJ
strong JJ JJ
opposition NN NN
to TO TO
changing VBG VBG
the DT DT
EC NNP NNP
treaty NN NN
comes VBZ VBZ
from IN IN
British NNP NNP
Prime NNP NNP
Minister NNP NNP
Margaret NNP NNP
Thatcher NNP NNP
, , ,
who WP WP
is VBZ VBZ
opposed VBN VBN
to TO TO
creating VBG VBG
a DT DT
single JJ JJ
EC NNP NNP
currency NN NN
. . .
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But CC CC
the DT DT
process NN NN
of IN IN
convening VBG VBG
the DT DT
intergovernmental JJ JJ
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does VBZ VBZ
n't RB RB
require VB VB
unanimity : NN
. . .
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Setting VBG VBG
a DT DT
date NN NN
to TO TO
start VB VB
treaty NN NN
negotiations NNS NNS
has VBZ VBZ
no DT DT
legal JJ JJ
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in IN IN
itself PRP PRP
, , ,
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could MD MD
be VB VB
viewed VBN VBN
as IN IN
an DT DT
important JJ JJ
psychological JJ JJ
push NN NN
. . .
<s>
French NNP NNP
President NNP NNP
Francois NNP NNP
Mitterrand NNP NNP
fought VBD VBD
to TO TO
set VB VB
a DT DT
date NN NN
for IN IN
the DT DT
conference NN NN
during IN IN
the DT DT
EC NNP NNP
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in IN IN
Madrid NNP NNP
last JJ JJ
June NNP NNP
, , ,
but CC CC
the DT DT
move NN NN
was VBD VBD
scuttled VBN VBN
because IN RB
of IN IN
opposition NN NN
by IN IN
Mrs. NNP NNP
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and CC CC
West JJ NNP
German NNP NNP
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Helmut NNP NNP
Kohl NNP NNP
. . .
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Diplomatic JJ JJ
sources NNS NNS
said VBD VBD
Mr. NNP NNP
Kohl NNP NNP
may MD MD
now RB RB
agree VB VB
to TO TO
set VB VB
a DT DT
date NN NN
for IN IN
the DT DT
conference NN NN
to TO TO
make VB VB
it PRP PRP
clear JJ JJ
that IN IN
West NNP NNP
Germany NNP NNP
is VBZ VBZ
still RB RB
committed VBN VBN
to TO TO
EC NNP NNP
unity NN NN
. . .
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The DT DT
latest JJS JJS
crewcut NN NN
in IN IN
the DT DT
equities NNS NNS
markets NNS NNS
reminds VBZ VBZ
me PRP PRP
of IN IN
the DT DT
joke NN NN
T. NNP NNP
Boone NNP NNP
Pickens NNP NNP
tells VBZ VBZ
about IN IN
the DT DT
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who WP WP
was VBD VBD
run VBN VBN
over RP RP
by IN IN
the DT DT
parade NN NN
. . .
<s>
When WRB WRB
asked VBN VBD
`` `` ``
What WP WP
went VBD VBD
wrong JJ JJ
? . .
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the DT DT
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, , ,
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It PRP PRP
was VBD VBD
a DT DT
combination NN NN
of IN IN
things NNS NNS
. . .
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'' '' ''
And CC CC
so IN IN
it PRP PRP
was VBD VBD
on IN IN
Gray NNP NNP
Friday NNP NNP
. . .
<s>
The DT DT
grand JJ JJ
marshal NN NN
of IN IN
this DT DT
parade NN NN
would MD MD
appear VB VB
to TO TO
have VB VB
been VBN VBN
excess JJ JJ
leverage NN NN
. . .
<s>
Even RB RB
if IN IN
that DT DT
is VBZ VBZ
so RB RB
, , ,
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, , ,
it PRP PRP
's VBZ VBZ
probably RB RB
the DT DT
case NN NN
that IN IN
no DT DT
barriers NNS NNS
should MD MD
have VB VB
been VBN VBN
erected VBD VBN
to TO TO
stop VB VB
the DT DT
procession NN NN
before IN IN
the DT DT
end NN NN
of IN IN
the DT DT
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e SYM NN
) ) )
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ceremonies NNS NNS
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Friday NNP NNP
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when WRB WRB
word NN NN
spread NN VBD
that IN IN
the DT DT
UAL NNP NNP
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was VBD VBD
collapsing VBG VBG
. . .
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Although IN IN
the DT DT
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expects VBZ VBZ
to TO TO
patch NN VB
together RB RP
a DT DT
substitute NN JJ
offer NN NN
, , ,
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of IN IN
less JJR JJR
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, , ,
the DT DT
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to TO TO
get VB VB
cash NN NN
from IN IN
Japanese JJ JJ
and CC CC
American JJ JJ
banks NNS NNS
confirmed VBD VBD
a DT DT
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fear NN NN
among IN IN
arbitragers NNS NNS
that IN IN
the DT DT
pageant NN NN
of IN IN
high-leverage JJ JJ
takeover NN NN
deals NNS NNS
is VBZ VBZ
ending VBG VBG
. . .
<s>
Lots NNS NNS
of IN IN
other JJ JJ
entries NNS NNS
made VBD VBN
up RP RP
the DT DT
parade NN NN
, , ,
of IN IN
course NN NN
-- : :
notably RB RB
a DT DT
surprisingly RB RB
large JJ JJ
increase NN NN
in IN IN
producer NN NN
prices NNS NNS
, , ,
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Federal NNP NNP
Reserve NNP NNP
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; : :
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the DT DT
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's POS POS
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temporary JJ JJ
? . .
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) ) )
defeat NN NN
in IN IN
trying VBG VBG
to TO TO
lower VB VB
the DT DT
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usual JJ JJ
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heard VBN VBN
for IN IN
that DT DT
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of IN IN
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traders NNS NNS
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most RBS JJS
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the DT DT
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that IN WDT
others NNS NNS
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. . .
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really RB RB
spooked VBD VBD
the DT DT
crowds NNS NNS
along IN IN
Wall NNP NNP
Street NNP NNP
, , ,
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, , ,
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the DT DT
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that IN IN
, , ,
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the DT DT
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of IN IN
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capital NN NN
is VBZ VBZ
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up RP RP
. . .
<s>
Gray NNP NNP
Friday NNP NNP
reflects VBZ VBZ
a DT DT
panic NN NN
mainly RB RB
by IN IN
the DT DT
takeover NN NN
arbitragers NNS NNS
, , ,
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than IN IN
the DT DT
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their PRP$ PRP$
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in IN IN
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by IN IN
the DT DT
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up RP RP
of IN IN
the DT DT
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for IN IN
deal NN NN
financing NN NN
. . .
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stocks NNS NNS
led VBD VBD
the DT DT
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down RP RB
as IN IN
they PRP PRP
absorbed VBN VBD
the DT DT
heaviest JJS JJS
losses NNS NNS
. . .
<s>
UAL NNP NNP
, , ,
which WDT WDT
triggered VBD VBD
the DT DT
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, , ,
opened VBD VBD
Monday NNP NNP
at IN IN
$ $ $
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down RB RB
about IN RB
20 CD CD
% NN NN
from IN IN
Thursday NNP NNP
's POS POS
close NN NN
. . .
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AMR NNP NNP
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Monday NNP NNP
at IN IN
$ $ $
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down RB RB
nearly RB RB
20 CD CD
% NN NN
from IN IN
Thursday NNP NNP
's POS POS
close NN NN
. . .
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( ( (
Both DT DT
took VBD VBD
further JJ JJ
hits NNS NNS
yesterday NN NN
. . .
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) ) )
Hilton NNP NNP
lost VBD VBD
20 CD CD
% NN NN
on IN IN
Friday NNP NNP
; : :
Paramount NNP NNP
lost VBD VBD
almost RB RB
11 CD CD
% NN NN
. . .
<s>
A DT DT
careful JJ JJ
look NN NN
reveals VBZ VBZ
that IN IN
where WRB WRB
deal NN NN
financing NN NN
has VBZ VBZ
been VBN VBN
secured VBN VBN
, , ,
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target NN NN
's POS POS
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price NN NN
was VBD VBD
not RB RB
affected VBN VBN
on IN IN
Friday NNP NNP
. . .
<s>
The DT DT
multibillion-dollar JJ JJ
prospects NNS NNS
, , ,
where WRB WRB
the DT DT
bidder NN NN
must MD MD
line VB VB
up RP RP
a DT DT
consortium NN NN
of IN IN
banks NNS NNS
and\/or CC CC
issue NN NN
billions NNS NNS
in IN IN
high-yield JJ JJ
debt NN NN
, , ,
were VBD VBD
where WRB WRB
the DT DT
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was VBD VBD
concentrated VBN VBN
. . .
<s>
The DT DT
market NN NN
for IN IN
so-called JJ JJ
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bonds NNS NNS
has VBZ VBZ
been VBN VBN
setting VBG VBG
the DT DT
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for IN IN
Friday NNP NNP
's POS POS
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march NN NN
for IN IN
several JJ JJ
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. . .
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The DT DT
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difficulties NNS NNS
of IN IN
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as IN IN
Resorts NNP NNP
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cast VBN VBN
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over IN IN
the DT DT
entire JJ JJ
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for IN IN
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. . .
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Investors NNS NNS
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by IN IN
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efforts NNS NNS
to TO TO
float VB VB
junk NN NN
bonds NNS NNS
by IN IN
Ohio NNP NNP
Mattress NNP NNP
and CC CC
by IN IN
forcing VBG VBG
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to TO TO
postpone VB VB
indefinitely RB RB
its PRP$ PRP$
planned VBN VBN
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sale NN NN
and CC CC
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. . .
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As IN IN
a DT DT
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have VBP VBP
declined VBN VBN
across IN IN
the DT DT
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and CC CC
the DT DT
many JJ JJ
firms NNS NNS
planning VBG VBG
to TO TO
sell VB VB
$ $ $
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billion CD CD
in IN IN
junk NN NN
bonds NNS NNS
before IN IN
year-end JJ NN
are VBP VBP
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times NNS NNS
. . .
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These DT DT
are VBP VBP
all DT DT
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excesses NNS NNS
( ( (
putting VBG VBG
aside RB RP
the DT DT
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boosts NNS NNS
that IN IN
the DT DT
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over IN IN
equity NN NN
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in RP RP
. . .
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Of IN IN
course NN NN
, , ,
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had VBD VBD
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in IN IN
the DT DT
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up RP RP
to TO TO
the DT DT
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, , ,
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its PRP$ PRP$
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to TO TO
meddle VB VB
in IN IN
the DT DT
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, , ,
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on IN IN
Friday NNP NNP
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over IN IN
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all DT DT
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of IN IN
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not RB RB
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of IN IN
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corporate JJ JJ
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of IN IN
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of IN IN
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of IN IN
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of IN IN
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got VBD VBD
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on IN IN
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, , ,
Washington NNP NNP
understands VBZ VBZ
politics NNS NNS
better JJR JJR
than IN IN
economics NNS NNS
. . .
<s>
Although IN IN
the DT DT
average JJ JJ
citizen NN NN
is VBZ VBZ
probably RB RB
not RB RB
harmed VBD VBN
too RB RB
much RB RB
from IN IN
Washington NNP NNP
's POS POS
rhetorical JJ JJ
war NN NN
against IN IN
Wall NNP NNP
Street NNP NNP
regarding VBG VBG
excessive JJ JJ
financial JJ JJ
leveraging VBG VBG
, , ,
actual JJ JJ
legislation NN NN
would MD MD
probably RB RB
impose VB VB
considerable JJ JJ
harm NN NN
. . .
<s>
Any DT DT
such JJ JJ
attempt NN NN
to TO TO
distinguish VB VB
`` `` ``
good JJ JJ
debt NN NN
'' '' ''
from IN IN
`` `` ``
bad JJ JJ
debt NN NN
, , ,
'' '' ''
or CC CC
to TO TO
draw VB VB
the DT DT
line NN NN
at IN IN
a DT DT
particular JJ JJ
industry NN NN
, , ,
such JJ JJ
as IN IN
the DT DT
airlines NNS NNS
, , ,
is VBZ VBZ
likely JJ JJ
to TO TO
blunt VB VB
the DT DT
spur VB NN
that IN IN
the DT DT
proper JJ JJ
amount NN NN
of IN IN
leverage NN NN
provides VBZ VBZ
both DT DT
to TO TO
equity NN NN
markets NNS NNS
and CC CC
economic JJ JJ
efficiency NN NN
in IN IN
general JJ NN
. . .
<s>
Far RB RB
better RBR RBR
for IN IN
policy NN NN
makers NNS NNS
to TO TO
concentrate VB VB
on IN IN
the DT DT
war NN NN
against IN IN
drugs NNS NNS
, , ,
Panama NNP NNP
and CC CC
the DT DT
deficit NN NN
, , ,
all DT DT
of IN IN
them PRP DT
parades VBZ NNS
that DT WDT
seem VBP VBP
never RB RB
to TO TO
end VB VB
. . .
<s>
Mr. NNP NNP
Jarrell NNP NNP
, , ,
former JJ JJ
top JJ JJ
economist NN NN
at IN IN
the DT DT
Securities NNPS NNP
and CC CC
Exchange NNP NNP
Commission NNP NNP
, , ,
teaches VBZ VBZ
at IN IN
the DT DT
University NNP NNP
of IN IN
Rochester NNP NNP
's POS POS
Simon NNP NNP
Business NNP NNP
School NNP NNP
. . .
<s>
Tokyo NNP NNP
share NN NN
prices NNS NNS
rebounded VBD VBD
Tuesday NNP NNP
morning NN NN
, , ,
with IN IN
the DT DT
Nikkei NNP NNP
index NN NN
of IN IN
225 CD CD
selected VBN VBN
stocks NNS NNS
rising VBG VBG
618.69 CD CD
points NNS NNS
to TO TO
close VB VB
the DT DT
morning NN NN
session NN NN
at IN IN
35087.38 CD CD
. . .
<s>
The DT DT
index NN NN
slid VBD VBD
647.33 CD CD
points NNS NNS
, , ,
or CC CC
1.8 CD CD
% NN NN
, , ,
on IN IN
Monday NNP NNP
. . .
<s>
In IN IN
the DT DT
first JJ JJ
25 CD CD
minutes NNS NNS
of IN IN
Tuesday NNP NNP
's POS POS
trading NN NN
the DT DT
Nikkei NNP NNP
index NN NN
soared VBD VBD
664.83 CD CD
points NNS NNS
, , ,
to TO TO
35133.83 CD CD
. . .
<s>
By IN IN
10 CD CD
a.m. NN RB
Tokyo NNP NNP
time NN NN
, , ,
the DT DT
index NN NN
was VBD VBD
up RB RB
435.11 CD CD
points NNS NNS
, , ,
to TO TO
34903.80 CD CD
as IN IN
investors NNS NNS
hailed VBD VBD
New NNP NNP
York NNP NNP
's POS POS
overnight JJ JJ
rally NN NN
. . .
<s>
Monday NNP NNP
's POS POS
slide NN NN
came VBD VBD
in IN IN
a DT DT
relatively RB RB
calm JJ JJ
session NN NN
that WDT WDT
did VBD VBD
n't RB RB
provide VB VB
much JJ JJ
direction NN NN
for IN IN
other JJ JJ
markets NNS NNS
. . .
<s>
Shares NNS NNS
also RB RB
closed VBD VBN
sharply RB RB
lower JJR RBR
across IN IN
Europe NNP NNP
, , ,
particularly RB RB
in IN IN
Frankfurt NNP NNP
, , ,
although IN IN
London NNP NNP
and CC CC
a DT DT
few JJ JJ
other JJ JJ
markets NNS NNS
recovered VBD VBD
some DT DT
ground NN NN
after IN IN
stocks NNS NNS
began VBD VBD
to TO TO
rebound VB VB
in IN IN
New NNP NNP
York NNP NNP
. . .
<s>
Other JJ JJ
Asian JJ JJ
and CC CC
Pacific JJ JJ
markets NNS NNS
had VBD VBD
sharper JJR JJR
losses NNS NNS
than IN IN
Tokyo NNP NNP
, , ,
but CC CC
the DT DT
selling NN NN
wave NN NN
stopped VBD VBD
short RB RB
of IN IN
precipitating VBG VBG
another DT DT
market NN NN
crash NN NN
. . .
<s>
All DT DT
eyes NNS NNS
were VBD VBD
on IN IN
Tokyo NNP NNP
at IN IN
the DT DT
opening NN NN
because IN IN
it PRP PRP
was VBD VBD
the DT DT
first JJ JJ
major JJ JJ
market NN NN
to TO TO
trade VB VB
since IN IN
Friday NNP NNP
's POS POS
190.58-point JJ JJ
plunge NN NN
on IN IN
Wall NNP NNP
Street NNP NNP
. . .
<s>
But CC CC
rather RB RB
than IN IN
set VB VB
the DT DT
tone NN NN
for IN IN
other JJ JJ
markets NNS NNS
, , ,
Japan NNP NNP
's POS POS
major JJ JJ
institutional JJ JJ
investors NNS NNS
chose VBD VBD
to TO TO
remain VB VB
on IN IN
the DT DT
sidelines NNS NNS
. . .
<s>
Still RB RB
, , ,
despite IN IN
the DT DT
sudden JJ JJ
reappearance NN NN
of IN IN
stock-market NN JJ
turbulence NN NN
, , ,
managers NNS NNS
of IN IN
Japanese JJ JJ
investment NN NN
funds NNS NNS
said VBD VBD
they PRP PRP
were VBD VBD
n't RB RB
planning VBG VBG
to TO TO
unload VB VB
U.S. NNP NNP
or CC CC
European JJ JJ
equities NNS NNS
. . .
<s>
`` `` ``
We PRP PRP
did VBD VBD
n't RB RB
trade VB VB
much JJ JJ
today NN NN
, , ,
as IN IN
our PRP$ PRP$
policy NN NN
now RB RB
is VBZ VBZ
to TO TO
wait VB VB
and CC CC
see VB VB
, , ,
'' '' ''
said VBD VBD
a DT DT
fund NN NN
manager NN NN
at IN IN
Taisho NNP NNP
Life NNP NNP
Insurance NNP NNP
Co NNP NNP
. . .
<s>
`` `` ``
We PRP PRP
would MD MD
like VB VB
to TO TO
wait VB VB
and CC CC
see VB VB
until IN IN
trading NN NN
goes VBZ VBZ
around IN RB
through IN IN
Europe NNP NNP
and CC CC
New NNP NNP
York NNP NNP
. . .
<s>
'' '' ''
The DT DT
institutions NNS NNS
appeared VBD VBD
confident JJ JJ
that IN IN
Japanese JJ JJ
regulators NNS NNS
would MD MD
step VB VB
in RP RB
to TO TO
ensure VB VB
orderly JJ JJ
trading NN NN
if IN IN
necessary JJ JJ
, , ,
and CC CC
there EX EX
was VBD VBD
considerable JJ JJ
speculation NN NN
during IN IN
the DT DT
day NN NN
that IN IN
the DT DT
Finance NNP NNP
Ministry NNP NNP
was VBD VBD
working VBG VBG
behind IN IN
the DT DT
scenes NNS NNS
to TO TO
do VB VB
just RB RB
that DT DT
. . .
<s>
But CC CC
in IN IN
the DT DT
absence NN NN
of IN IN
panicky JJ JJ
trading NN NN
, , ,
its PRP$ PRP$
presence NN NN
was VBD VBD
never RB RB
overtly RB RB
felt VBN VBN
. . .
<s>
At IN IN
the DT DT
close NN NN
, , ,
the DT DT
Nikkei NNP NNP
average NN NN
of IN IN
225 CD CD
stocks NNS NNS
stood VBD VBD
at IN IN
34468.69 CD CD
, , ,
down RB RB
647.33 CD CD
points NNS NNS
, , ,
or CC CC
1.8 CD CD
% NN NN
. . .
<s>
The DT DT
broader JJR JJR
Tokyo NNP NNP
Stock NNP NNP
Price NNP NNP
Index NNP NNP
sank VBD VBD
45.66 CD CD
, , ,
or CC CC
1.7 CD CD
% NN NN
, , ,
to TO TO
2600.88 CD CD
. . .
<s>
The DT DT
day NN NN
's POS POS
decline NN NN
was VBD VBD
generally RB RB
in IN IN
line NN NN
with IN IN
analysts NNS NNS
' POS POS
weekend NN NN
predictions NNS NNS
. . .
<s>
Declining VBG VBG
issues NNS NNS
swamped VBD VBD
advancers NNS NNS
, , ,
941-105 CD CD
. . .
<s>
But CC CC
volume NN NN
was VBD VBD
thin JJ JJ
at IN IN
526.2 CD CD
million CD CD
shares NNS NNS
, , ,
compared VBN VBN
with IN IN
574.7 CD CD
million CD CD
Friday NNP NNP
. . .
<s>
The DT DT
market NN NN
opened VBD VBD
sharply RB RB
lower RBR RBR
, , ,
with IN IN
the DT DT
Nikkei NNP NNP
average VBP NN
down RP RB
nearly RB RB
600 CD CD
after IN IN
20 CD CD
minutes NNS NNS
. . .
<s>
A DT DT
midmorning NN NN
rebound NN NN
brought VBD VBD
it PRP PRP
back RB RB
to TO TO
show VB VB
a DT DT
gain NN NN
of IN IN
about IN RB
200 CD CD
at IN IN
the DT DT
end NN NN
of IN IN
the DT DT
morning NN NN
session NN NN
, , ,
but CC CC
the DT DT
rally NN NN
failed VBD VBD
in IN IN
the DT DT
afternoon NN NN
, , ,
and CC CC
the DT DT
market NN NN
closed VBD VBD
near IN IN
the DT DT
day NN NN
's POS POS
low NN NN
. . .
<s>
The DT DT
smaller JJR JJR
stocks NNS NNS
in IN IN
the DT DT
Tokyo NNP NNP
market NN NN
's POS POS
second JJ JJ
section NN NN
also RB RB
posted VBD VBD
their PRP$ PRP$
biggest JJS JJS
decline NN NN
of IN IN
the DT DT
year NN NN
. . .
<s>
The DT DT
Tokyo NNP NNP
Stock NNP NNP
Exchange NNP NNP
index NN NN
for IN IN
the DT DT
second JJ JJ
section NN NN
fell VBD VBD
100.96 CD CD
, , ,
or CC CC
2.7 CD CD
% NN NN
, , ,
to TO TO
3655.40 CD CD
. . .
<s>
Many JJ JJ
investors NNS NNS
, , ,
trying VBG VBG
to TO TO
outperform VB VB
the DT DT
market NN NN
's POS POS
major JJ JJ
indexes NNS NNS
, , ,
have VBP VBP
flocked VBN VBN
to TO TO
these DT DT
small JJ JJ
issues NNS NNS
in IN IN
recent JJ JJ
weeks NNS NNS
. . .
<s>
Japanese JJ JJ
investors NNS NNS
and CC CC
traders NNS NNS
expressed VBD VBD
relief NN NN
that IN IN
the DT DT
Tokyo NNP NNP
market NN NN
did VBD VBD
n't RB RB
fall VB VB
more RBR RBR
sharply RB RB
. . .
<s>
But CC CC
its PRP$ PRP$
performance NN NN
did VBD VBD
bear VB VB
some DT DT
resemblance NN NN
to TO TO
events NNS NNS
of IN IN
two CD CD
years NNS NNS
ago RB RB
, , ,
during IN IN
the DT DT
October NNP NNP
1987 CD CD
global JJ JJ
stock NN NN
market NN NN
crash NN NN
. . .
<s>
On IN IN
Oct. NNP NNP
16 CD CD
, , ,
1987 CD CD
-- : :
the DT DT
Friday NNP NNP
before IN IN
the DT DT
Black NNP NNP
Monday NNP NNP
crash NN NN
-- : :
the DT DT
New NNP NNP
York NNP NNP
market NN NN
dropped VBD VBD
4.6 CD CD
% NN NN
, , ,
and CC CC
Tokyo NNP NNP
followed VBD VBD
on IN IN
Monday NNP NNP
with IN IN
a DT DT
2.4 CD CD
% NN NN
drop NN NN
. . .
<s>
This DT DT
time NN NN
, , ,
Wall NNP NNP
Street NNP NNP
's POS POS
plunge NN NN
of IN IN
6.9 CD CD
% NN NN
Friday NNP NNP
was VBD VBD
followed VBN VBN
by IN IN
yesterday NN NN
's POS POS
1.8 CD CD
% NN NN
loss NN NN
in IN IN
Tokyo NNP NNP
. . .
<s>
Two CD CD
years NNS NNS
ago RB RB
, , ,
Tokyo NNP NNP
's POS POS
biggest JJS JJS
fall NN NN
came VBD VBD
the DT DT
day NN NN
after IN IN
New NNP NNP
York NNP NNP
's POS POS
22.6 CD CD
% NN NN
Black NNP NNP
Monday NNP NNP
plunge NN NN
, , ,
when WRB WRB
the DT DT
Nikkei NNP NNP
average NN NN
fell VBD VBD
14.9 CD CD
% NN NN
. . .
<s>
Thus RB RB
, , ,
market NN NN
participants NNS NNS
yesterday NN NN
were VBD VBD
looking VBG VBG
ahead RB RB
nervously RB RB
to TO TO
Wall NNP NNP
Street NNP NNP
's POS POS
opening NN NN
. . .
<s>
But CC CC
in IN IN
New NNP NNP
York NNP NNP
yesterday NN NN
, , ,
the DT DT
Dow NNP NNP
Jones NNP NNP
Industrial NNP NNP
Average NNP NNP
surged VBD VBD
88.12 CD CD
to TO TO
close VB VB
at IN IN
2657.38 CD CD
on IN IN
heavy JJ JJ
volume NN NN
of IN IN
416,290,000 CD CD
shares NNS NNS
, , ,
although IN IN
declining VBG VBG
issues NNS NNS
still RB RB
outnumbered VBD VBD
advancing VBG VBG
ones NNS NNS
on IN IN
the DT DT
broad JJ JJ
market NN NN
. . .
<s>
Nobuto NNP NNP
Yasuda NNP NNP
, , ,
a DT DT
director NN NN
at IN IN
Yamaichi NNP NNP
Investment NNP NNP
Trust NNP NNP
& CC CC
Management NNP NNP
Co. NNP NNP
, , ,
called VBD VBD
yesterday NN NN
's POS POS
session NN NN
`` `` ``
a DT DT
good JJ JJ
scenario NN NN
'' '' ''
for IN IN
Japan NNP NNP
. . .
<s>
`` `` ``
Now RB RB
we PRP PRP
are VBP VBP
looking VBG VBG
for IN IN
the DT DT
time NN NN
to TO TO
place VB VB
buy NN NN
orders NNS NNS
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
`` `` ``
For IN IN
us PRP PRP
institutional JJ JJ
investors NNS NNS
, , ,
the DT DT
chance NN NN
for IN IN
buying NN VBG
has VBZ VBZ
come VBN VBN
. . .
<s>
'' '' ''
Isao NNP NNP
Ushikubo NNP NNP
, , ,
general JJ JJ
manager NN NN
of IN IN
the DT DT
investment NN NN
research NN NN
department NN NN
at IN IN
Toyo NNP NNP
Trust NNP NNP
& CC CC
Banking NNP NNP
Co. NNP NNP
, , ,
also RB RB
was VBD VBD
optimistic JJ JJ
. . .
<s>
He PRP PRP
described VBD VBD
Friday NNP NNP
's POS POS
plunge NN NN
in IN IN
the DT DT
U.S. NNP NNP
as IN IN
a DT DT
`` `` ``
fleeting JJ JJ
'' '' ''
event NN NN
resulting VBG VBG
in IN IN
part NN NN
from IN IN
excessive JJ JJ
merger NN NN
and CC CC
acquisition NN NN
activity NN NN
. . .
<s>
`` `` ``
Unless IN IN
there EX EX
is VBZ VBZ
a DT DT
panic NN NN
, , ,
this DT DT
is VBZ VBZ
the DT DT
best JJS JJS
time NN NN
to TO TO
buy VB VB
, , ,
as IN IN
was VBD VBD
the DT DT
case NN NN
two CD CD
years NNS NNS
ago RB RB
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
`` `` ``
Those DT DT
shares NNS NNS
which WDT WDT
had VBD VBD
posted VBN VBN
gains NNS NNS
on IN IN
M&A NNP NNP
speculation NN NN
were VBD VBD
dashed VBN VBN
with IN IN
cold JJ JJ
water NN NN
, , ,
but CC CC
as RB RB
far RB RB
as IN IN
major JJ JJ
stocks NNS NNS
are VBP VBP
concerned VBN VBN
, , ,
there EX EX
is VBZ VBZ
n't RB RB
much JJ JJ
impact NN NN
. . .
<s>
'' '' ''
Other JJ JJ
fund NN NN
managers NNS NNS
were VBD VBD
similarly RB RB
sanguine JJ JJ
. . .
<s>
`` `` ``
We PRP PRP
have VBP VBP
no DT DT
plans NNS NNS
to TO TO
adjust VB VB
our PRP$ PRP$
asset NN NN
allocation NN NN
in IN IN
foreign JJ JJ
equities NNS NNS
, , ,
'' '' ''
said VBD VBD
Masato NNP NNP
Murakami NNP NNP
, , ,
chief JJ JJ
portfolio NN NN
manager NN NN
in IN IN
the DT DT
pension NN NN
fund NN NN
management NN NN
department NN NN
at IN IN
Yasuda NNP NNP
Trust NNP NNP
& CC CC
Banking NNP NNP
Co NNP NNP
. . .
<s>
He PRP PRP
said VBD VBD
Friday NNP NNP
's POS POS
Wall NNP NNP
Street NNP NNP
decline NN NN
was VBD VBD
`` `` ``
well RB RB
within IN IN
the DT DT
range NN NN
of IN IN
volatility NN NN
'' '' ''
that IN IN
Yasuda NNP NNP
Trust NNP NNP
plans NNS VBZ
for IN IN
when WRB WRB
it PRP PRP
charts NNS VBZ
its PRP$ PRP$
overseas JJ JJ
investment NN NN
strategy NN NN
. . .
<s>
Among IN IN
other JJ JJ
Asian JJ JJ
and CC CC
Pacific JJ JJ
markets NNS NNS
, , ,
Malaysia NNP NNP
and CC CC
Singapore NNP NNP
had VBD VBD
the DT DT
biggest JJS JJS
losses NNS NNS
, , ,
with IN IN
the DT DT
Kuala NNP NNP
Lumpur NNP NNP
composite JJ JJ
index NN NN
in IN IN
Malaysia NNP NNP
falling VBG VBG
11.5 CD CD
% NN NN
and CC CC
Singapore NNP NNP
's POS POS
Straits : NNP
Times NNP NNP
Industrial NNP NNP
Index NNP NNP
down RB RB
10 CD CD
% NN NN
. . .
<s>
Major JJ JJ
indexes NNS NNS
declined VBD VBD
more JJR JJR
than IN IN
8 CD CD
% NN NN
in IN IN
Australia NNP NNP
and CC CC
New NNP NNP
Zealand NNP NNP
and CC CC
6.5 CD CD
% NN NN
in IN IN
Hong NNP NNP
Kong NNP NNP
. . .
<s>
Bangkok NNP NNP
, , ,
Manila NNP NNP
, , ,
Seoul NNP NNP
, , ,
Taipei NNP NNP
and CC CC
Jakarta NNP NNP
escaped VBD VBD
with IN IN
slightly RB RB
smaller JJR JJR
losses NNS NNS
. . .
<s>
Brokers NNS NNS
and CC CC
fund NN NN
managers NNS NNS
said VBD VBD
the DT DT
region NN NN
's POS POS
markets NNS NNS
were VBD VBD
reacting VBG VBG
to TO TO
Friday NNP NNP
's POS POS
Wall NNP NNP
Street NNP NNP
plunge NN NN
even RB RB
though IN IN
that DT DT
decline NN NN
was VBD VBD
due JJ JJ
to TO TO
local JJ JJ
factors NNS NNS
such JJ JJ
as IN IN
failed JJ VBN
corporate JJ JJ
buy-outs NNS NNS
and CC CC
a DT DT
deteriorating VBG VBG
junk-bond NN NN
market NN NN
. . .
<s>
`` `` ``
It PRP PRP
's VBZ VBZ
pure JJ JJ
psychology NN NN
, , ,
'' '' ''
said VBD VBD
William NNP NNP
Au NNP NNP
Yeung NNP NNP
, , ,
an DT DT
account NN NN
executive NN NN
for IN IN
Drexel NNP NNP
Burnham NNP NNP
Lambert NNP NNP
( ( (
HK NNP NNP
) ) )
Ltd. NNP NNP
in IN IN
Hong NNP NNP
Kong NNP NNP
. . .
<s>
`` `` ``
Markets NNS NNS
in IN IN
this DT DT
region NN NN
are VBP VBP
n't RB RB
so RB RB
geared VBN VBN
to TO TO
leveraged JJ VBN
buy-outs NNS NNS
, , ,
and CC CC
their PRP$ PRP$
economies NNS NNS
generally RB RB
are VBP VBP
in IN IN
good JJ JJ
shape NN NN
, , ,
but CC CC
there EX EX
's VBZ VBZ
no DT DT
doubt NN NN
that IN DT
Asia NNP NNP
is VBZ VBZ
still RB RB
following VBG VBG
America NNP NNP
's POS POS
lead NN NN
. . .
<s>
'' '' ''
Several JJ JJ
analysts NNS NNS
said VBD VBD
Malaysia NNP NNP
and CC CC
Singapore NNP NNP
had VBD VBD
the DT DT
biggest JJS JJS
losses NNS NNS
because IN IN
they PRP PRP
are VBP VBP
relatively RB RB
open JJ JJ
to TO TO
rapid JJ JJ
cash NN NN
flows NNS NNS
. . .
<s>
Hong NNP NNP
Kong NNP NNP
is VBZ VBZ
the DT DT
region NN NN
's POS POS
next JJ JJ
most RBS RBS
open JJ JJ
market NN NN
, , ,
but CC CC
many JJ JJ
foreign JJ JJ
investors NNS NNS
have VBP VBP
been VBN VBN
staying VBG VBG
away RB RP
from IN IN
it PRP PRP
since IN IN
it PRP PRP
plunged VBD VBD
in IN IN
June NNP NNP
amid IN IN
political JJ JJ
turmoil NN NN
in IN IN
China NNP NNP
. . .
<s>
`` `` ``
Singapore NNP NNP
took VBD VBD
the DT DT
hit NN NN
because IN RB
when WRB WRB
people NNS NNS
want VBP VBP
to TO TO
get VB VB
out RP RP
, , ,
they PRP PRP
tend VBP VBP
to TO TO
go VB VB
where WRB WRB
the DT DT
liquidity NN NN
is VBZ VBZ
, , ,
'' '' ''
said VBD VBD
Elizabeth NNP NNP
Hambrecht NNP NNP
, , ,
a DT DT
regional JJ JJ
analyst NN NN
with IN IN
Baring NNP NNP
Securities NNPS NNP
( ( (
Hong NNP NNP
Kong NNP NNP
) ) )
Ltd NNP NNP
. . .
<s>
She PRP PRP
pointed VBD VBD
out RP RP
that IN IN
even RB RB
after IN IN
Monday NNP NNP
's POS POS
10 CD CD
% NN NN
decline NN NN
, , ,
the DT DT
Straits : NNP
Times NNS NNP
index NN NN
is VBZ VBZ
up RB RB
24 CD CD
% NN NN
this DT DT
year NN NN
, , ,
so IN IN
investors NNS NNS
who WP WP
bailed VBD VBD
out RP RP
generally RB RB
did VBD VBD
so RB RB
profitably RB RB
. . .
<s>
Similarly RB RB
, , ,
Kuala NNP NNP
Lumpur NNP NNP
's POS POS
composite JJ JJ
index NN NN
yesterday NN NN
ended VBD VBD
27.5 CD CD
% NN NN
above IN IN
its PRP$ PRP$
1988 CD CD
close NN NN
. . .
<s>
In IN IN
Hong NNP NNP
Kong NNP NNP
, , ,
the DT DT
Hang NNP NNP
Seng NNP NNP
Index NNP NNP
fell VBD VBD
180.60 CD CD
to TO TO
finish VB VB
at IN IN
2601.70 CD CD
. . .
<s>
Trading NN NN
was VBD VBD
heavy JJ JJ
at IN IN
about IN RB
one CD CD
billion CD CD
shares NNS NNS
, , ,
compared VBN VBN
with IN IN
473.9 CD CD
million CD CD
Friday NNP NNP
. . .
<s>
But CC CC
the DT DT
session NN NN
was VBD VBD
orderly JJ JJ
, , ,
in IN IN
contrast NN NN
to TO TO
the DT DT
market NN NN
's POS POS
four-day JJ JJ
closure NN NN
after IN IN
the DT DT
1987 CD CD
crash NN NN
. . .
<s>
Richard NNP NNP
Chenevix-Trench NNP NNP
, , ,
a DT DT
director NN NN
at IN IN
Hong NNP NNP
Kong-based JJ JJ
Baring NNP NNP
International NNP NNP
Fund NNP NNP
Managers NNPS NNP
Ltd. NNP NNP
, , ,
said VBD VBD
the DT DT
market NN NN
probably RB RB
has VBZ VBZ
n't RB RB
hit VBN VBD
bottom NN NN
yet RB RB
but CC CC
is VBZ VBZ
close JJ JJ
. . .
<s>
`` `` ``
If IN IN
New NNP NNP
York NNP NNP
does VBZ VBZ
n't RB RB
collapse VB VB
, , ,
I PRP PRP
see VBP VBP
maybe RB RB
another DT DT
5 CD CD
% NN NN
on IN IN
the DT DT
downside NN NN
, , ,
not RB RB
counting VBG VBG
the DT DT
risk NN NN
of IN IN
bad JJ JJ
news NN NN
out IN IN
of IN IN
China NNP NNP
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
In IN IN
Australia NNP NNP
, , ,
Sydney NNP NNP
's POS POS
All DT DT
Ordinaries : NNP
index NN NN
closed VBD VBD
at IN IN
1601.5 CD CD
, , ,
down RB RB
8.1 CD CD
% NN NN
, , ,
its PRP$ PRP$
biggest JJS JJS
drop NN NN
since IN IN
October NNP NNP
1987 CD CD
. . .
<s>
But CC CC
volume NN NN
rose VBD VBD
only RB RB
to TO TO
162 CD CD
million CD CD
shares NNS NNS
from IN IN
143 CD CD
million CD CD
Friday NNP NNP
. . .
<s>
Nestor NNP NNP
Hinzack NNP NNP
, , ,
an DT DT
analyst NN NN
at IN IN
brokerage NN NN
firm NN NN
Burdett NNP NNP
, , ,
Buckeridge NNP NNP
& CC CC
Young NNP NNP
Ltd. NNP NNP
, , ,
described VBD VBD
the DT DT
market NN NN
's POS POS
performance NN NN
as IN IN
`` `` ``
sheep-like JJ JJ
'' '' ''
as IN IN
investors NNS NNS
fled VBD VBD
to TO TO
bluechip VB JJ
Australian JJ JJ
stocks NNS NNS
and CC CC
shunned VBD VBD
entrepreneurial JJ JJ
companies NNS NNS
they PRP PRP
perceived VBD VBD
as IN IN
having VBG VBG
any DT DT
takeover NN NN
premium NN NN
built VBN VBN
into IN IN
the DT DT
price NN NN
. . .
<s>
London NNP NNP
's POS POS
Financial NNP NNP
Times-Stock NNP NNP
Exchange NNP NNP
100-share JJ JJ
index NN NN
, , ,
the DT DT
most RBS RBS
closely RB RB
watched VBN VBN
market NN NN
barometer NN NN
, , ,
ended VBD VBD
at IN IN
its PRP$ PRP$
intraday NN JJ
high JJ NN
of IN IN
2163.4 CD CD
, , ,
down RB RB
70.5 CD CD
, , ,
or CC CC
3.2 CD CD
% NN NN
. . .
<s>
At IN IN
its PRP$ PRP$
low JJ JJ
, , ,
shortly RB RB
before IN IN
Wall NNP NNP
Street NNP NNP
opened VBD VBD
, , ,
it PRP PRP
was VBD VBD
off RB JJ
more JJR RBR
than IN IN
130 CD CD
points NNS NNS
. . .
<s>
The DT DT
Financial NNP NNP
Times NNP NNP
30-share JJ JJ
index NN NN
closed VBD VBD
79.3 CD CD
points NNS NNS
lower JJR RBR
at IN IN
1738.7 CD CD
. . .
<s>
Volume NN NN
more RBR RBR
than IN IN
doubled VBD VBD
to TO TO
959.3 CD CD
million CD CD
shares NNS NNS
from IN IN
457.7 CD CD
million CD CD
Friday NNP NNP
. . .
<s>
Prices NNS NNS
on IN IN
the DT DT
Frankfurt NNP NNP
Stock NNP NNP
Exchange NNP NNP
tumbled VBD VBD
in IN IN
heavy JJ JJ
trading NN NN
. . .
<s>
The DT DT
decline NN NN
in IN IN
the DT DT
German NNP JJ
Stock NNP NNP
Index NNP NNP
of IN IN
203.56 CD CD
points NNS NNS
, , ,
or CC CC
12.8 CD CD
% NN NN
, , ,
to TO TO
1385.72 CD CD
was VBD VBD
the DT DT
Frankfurt NNP NNP
market NN NN
's POS POS
steepest : JJS
fall NN NN
ever RB RB
. . .
<s>
Retail JJ JJ
investors NNS NNS
dumped VBD VBD
holdings NNS NNS
on IN IN
a DT DT
massive JJ JJ
scale NN NN
, , ,
pushing VBG VBG
some DT DT
blue-chip JJ JJ
shares NNS NNS
down IN RB
as RB RB
much JJ JJ
as IN IN
20 CD CD
% NN NN
. . .
<s>
Analysts NNS NNS
cited VBD VBD
memories NNS NNS
of IN IN
two CD CD
years NNS NNS
ago RB RB
, , ,
when WRB WRB
many JJ JJ
small JJ JJ
investors NNS NNS
held VBN VBD
on RP IN
to TO TO
their PRP$ PRP$
shares NNS NNS
after IN IN
the DT DT
October NNP NNP
crash NN NN
but CC CC
the DT DT
West JJ JJ
German JJ JJ
market NN NN
continued VBD VBD
to TO TO
decline VB VB
steeply RB RB
for IN IN
the DT DT
next JJ JJ
three CD CD
months NNS NNS
. . .
<s>
Here RB RB
are VBP VBP
price NN NN
trends NNS NNS
on IN IN
the DT DT
world NN NN
's POS POS
major JJ JJ
stock NN NN
markets NNS NNS
, , ,
as IN IN
calculated VBN VBN
by IN IN
Morgan NNP NNP
Stanley NNP NNP
Capital NNP NNP
International NNP NNP
Perspective NNP NNP
, , ,
Geneva NNP NNP
. . .
<s>
To TO TO
make VB VB
them PRP PRP
directly RB RB
comparable JJ JJ
, , ,
each DT DT
index NN NN
is VBZ VBZ
based VBN VBN
on IN IN
the DT DT
close NN NN
of IN IN
1969 CD CD
equaling VBG VBG
100 CD CD
. . .
<s>
The DT DT
percentage NN NN
change NN NN
is VBZ VBZ
since IN IN
year-end NN NN
. . .
<s>
Frank NNP NNP
Lloyd NNP NNP
Wright NNP NNP
is VBZ VBZ
reported VBN VBN
to TO TO
have VB VB
said VBN VBD
once RB RB
that IN IN
if IN IN
you PRP PRP
tipped VBD VBD
the DT DT
world NN NN
on IN IN
its PRP$ PRP$
side NN NN
, , ,
everything NN NN
loose RB JJ
would MD MD
end VB VB
up RP RP
in IN IN
California NNP NNP
. . .
<s>
We PRP PRP
've VBP VBP
always RB RB
thought VBN VBN
that IN IN
Mr. NNP NNP
Wright NNP NNP
underestimated VBD VBD
California NNP NNP
's POS POS
vitality NN NN
, , ,
but CC CC
maybe RB RB
the DT DT
state NN NN
's POS POS
la-la JJ JJ
factions NNS NNS
are VBP VBP
starting VBG VBG
to TO TO
overwhelm VB VB
the DT DT
forces NNS NNS
that WDT WDT
made VBD VBD
it PRP PRP
such JJ JJ
a DT DT
significant JJ JJ
place NN NN
. . .
<s>
What WP WP
else RB RB
is VBZ VBZ
one CD PRP
to TO TO
make VB VB
of IN IN
the DT DT
whacky JJ JJ
save-the-earth JJ JJ
initiative NN NN
just RB RB
proposed VBN VBN
by IN IN
several JJ JJ
major JJ JJ
environmental JJ JJ
groups NNS NNS
and CC CC
organized VBN VBN
by IN IN
the DT DT
state NN NN
's POS POS
attorney NN NN
general NN NN
? . .
<s>
If IN IN
passed VBN VBN
by IN IN
the DT DT
voters NNS NNS
, , ,
the DT DT
recently RB RB
announced VBN VBN
initiative NN NN
would MD MD
phase VB VB
out RP RP
major JJ JJ
pesticides NNS NNS
, , ,
reduce VB VB
carbon NN NN
dioxide NN NN
emissions NNS NNS
by IN IN
40 CD CD
% NN NN
, , ,
ban VBP VB
new JJ JJ
offshore JJ JJ
drilling NN NN
, , ,
ban NN VB
chemicals NNS NNS
thought VBD VBN
to TO TO
deplete VB VB
the DT DT
ozone NN NN
layer NN NN
, , ,
and CC CC
create VB VB
a DT DT
new JJ JJ
state NN NN
environmental JJ JJ
officer NN NN
armed VBN VBN
with IN IN
a DT DT
$ $ $
40 CD CD
million CD CD
budget NN NN
to TO TO
sue VB VB
any DT DT
firm NN NN
or CC CC
agency NN NN
he PRP PRP
thinks VBZ VBZ
is VBZ VBZ
being VBG VBG
too RB RB
dirty JJ JJ
. . .
<s>
The DT DT
initiative NN NN
is VBZ VBZ
based VBN VBN
largely RB RB
on IN IN
the DT DT
wish-lists NNS NNS
of IN IN
the DT DT
green JJ JJ
lobby NN NN
: : :
the DT DT
Sierra NNP NNP
Club NNP NNP
, , ,
the DT DT
League NNP NNP
of IN IN
Conservation NNP NNP
Voters NNPS NNP
, , ,
the DT DT
Natural NNP NNP
Resources NNPS NNP
Defense NNP NNP
Council NNP NNP
, , ,
the DT DT
National NNP NNP
Toxics NNP NNP
Campaign NNP NNP
and CC CC
the DT DT
Citizens NNPS NNP
for IN IN
a DT DT
Better NNP NNP
Environment NNP NNP
. . .
<s>
Interestingly RB RB
, , ,
the DT DT
Environmental NNP NNP
Defense NNP NNP
Fund NNP NNP
is VBZ VBZ
having VBG VBG
nothing NN NN
to TO TO
do VB VB
with IN IN
this DT DT
one CD CD
. . .
<s>
Not RB RB
only RB JJ
Californians NNPS NNS
but CC CC
all DT DT
Americans NNPS NNS
would MD MD
pay VB VB
if IN IN
this DT DT
thing NN NN
passed VBD VBD
. . .
<s>
The DT DT
initiative NN NN
bars VBZ VBZ
the DT DT
sale NN NN
of IN IN
any DT DT
crops NNS NNS
in IN IN
California NNP NNP
that WDT WDT
do VBP VBP
n't RB RB
meet VB VB
the DT DT
initiative NN NN
's POS POS
standards NNS NNS
. . .
<s>
Kansas NNP NNP
wheat NN NN
farmers NNS NNS
and CC CC
Florida NNP NNP
fruit NN NN
growers NNS NNS
would MD MD
have VB VB
to TO TO
adjust VB VB
or CC CC
give VB VB
up RP RP
the DT DT
California NNP NNP
market NN NN
. . .
<s>
In IN IN
other JJ JJ
words NNS NNS
, , ,
California NNP NNP
is VBZ VBZ
presuming VBG VBG
to TO TO
take VB VB
control NN NN
of IN IN
the DT DT
nation NN NN
's POS POS
farm NN NN
policy NN NN
. . .
<s>
As IN IN
usual JJ RB
the DT DT
green JJ JJ
lobby NN NN
's POS POS
proposal NN NN
is VBZ VBZ
disconnected VBN VBN
from IN IN
scientific JJ JJ
reality NN NN
. . .
<s>
Consider VB VB
the DT DT
greenhouse-effect JJ JJ
provision NN NN
. . .
<s>
The DT DT
proposed VBN VBN
initiative NN NN
would MD MD
mandate VB VB
a DT DT
reduction NN NN
of IN IN
carbon NN NN
dioxide NN NN
of IN IN
40 CD CD
% NN NN
. . .
<s>
Even RB RB
if IN IN
one CD PRP
buys VBZ VBZ
into IN IN
the DT DT
whole JJ JJ
greenhouse NN NN
theory NN NN
, , ,
it PRP PRP
is VBZ VBZ
inconceivable JJ JJ
that IN IN
reductions NNS NNS
in IN IN
a DT DT
single JJ JJ
state NN NN
could MD MD
have VB VB
any DT DT
impact NN NN
on IN IN
what WP WP
is VBZ VBZ
billed VBN VBN
as IN IN
a DT DT
global JJ JJ
problem NN NN
. . .
<s>
But CC CC
if IN IN
rational JJ JJ
science NN NN
and CC CC
economics NNS NNS
have VBP VBP
nothing NN NN
to TO TO
do VB VB
with IN IN
the DT DT
new JJ JJ
environment NN NN
initiative NN NN
, , ,
what WP WP
is VBZ VBZ
going VBG VBG
on RP RP
? . .
<s>
The DT DT
first JJ JJ
place NN NN
to TO TO
look VB VB
under IN IN
these DT DT
circumstances NNS NNS
is VBZ VBZ
at IN IN
the DT DT
ways NNS NNS
in IN IN
which WDT WDT
the DT DT
sponsors NNS NNS
themselves PRP PRP
will MD MD
benefit VB VB
. . .
<s>
The DT DT
key NN NN
here RB RB
is VBZ VBZ
the DT DT
ambition NN NN
of IN IN
state NN NN
Attorney NNP NNP
General NNP NNP
John NNP NNP
Van NNP NNP
de FW NNP
Kamp NNP NNP
. . .
<s>
He PRP PRP
's VBZ VBZ
running VBG VBG
for IN IN
governor NN NN
. . .
<s>
Mr. NNP NNP
Van NNP NNP
de FW NNP
Kamp NNP NNP
is VBZ VBZ
the DT DT
one NN CD
who WP WP
collected VBD VBD
the DT DT
plans NNS NNS
from IN IN
the DT DT
various JJ JJ
radical JJ JJ
environmental JJ JJ
groups NNS NNS
and CC CC
cobbled VBD VBD
them PRP PRP
into IN IN
a DT DT
single JJ JJ
unwieldy JJ JJ
initiative NN NN
to TO TO
be VB VB
placed VBN VBN
on IN IN
the DT DT
ballot NN NN
for IN IN
election NN NN
on IN IN
Nov. NNP NNP
6 CD CD
, , ,
1990 CD CD
. . .
<s>
That DT DT
's VBZ VBZ
also RB RB
the DT DT
day NN NN
of IN IN
the DT DT
gubernatorial JJ JJ
election NN NN
. . .
<s>
The DT DT
initiative NN NN
seems VBZ VBZ
to TO TO
have VB VB
been VBN VBN
crafted VBN VBN
to TO TO
include VB VB
all PDT DT
the DT DT
hot JJ JJ
issues NNS NNS
that WDT WDT
set VBD VBD
off RP RP
the DT DT
wealthy JJ JJ
Hollywood NNP NNP
weepers NNS NNS
who WP WP
donate VB VBP
money NN NN
. . .
<s>
And CC CC
it PRP PRP
allows VBZ VBZ
Mr. NNP NNP
Van NNP NNP
de FW NNP
Kamp NNP NNP
to TO TO
get VB VB
around IN RP
campaign NN NN
spending NN NN
limits NNS NNS
. . .
<s>
He PRP PRP
can MD MD
spend VB VB
the DT DT
legal JJ JJ
maximum NN NN
for IN IN
his PRP$ PRP$
campaign NN NN
; : :
all PDT DT
the DT DT
spending NN NN
for IN IN
the DT DT
Van NNP NNP
de FW NNP
Kamp NNP NNP
initiative NN NN
( ( (
on IN IN
which WDT WDT
there EX EX
are VBP VBP
no DT DT
limits NNS NNS
) ) )
is VBZ VBZ
gravy NN NN
. . .
<s>
This DT DT
initiative NN NN
is VBZ VBZ
being VBG VBG
labeled VBN VBN
The DT DT
Big NNP NNP
Green NNP NNP
, , ,
but CC CC
maybe RB RB
it PRP PRP
should MD MD
be VB VB
called VBN VBN
The DT DT
Big NNP NNP
Greenback : NNP
. . .
<s>
( ( (
The DT DT
Republican JJ JJ
candidate NN NN
, , ,
Sen. NNP NNP
Pete NNP NNP
Wilson NNP NNP
, , ,
is VBZ VBZ
playing VBG VBG
the DT DT
initiative NN NN
fundraising NN VBG
game NN NN
too RB RB
, , ,
sponsoring VBG VBG
his PRP$ PRP$
own JJ JJ
crime NN NN
initiative NN NN
. . .
<s>
) ) )
While IN IN
it PRP PRP
is VBZ VBZ
possible JJ JJ
that IN IN
the DT DT
Big JJ NNP
Green JJ NNP
initiative NN NN
will MD MD
be VB VB
ruled VBN VBN
unconstitutional JJ JJ
, , ,
it PRP PRP
is VBZ VBZ
of IN IN
course NN NN
conceivable JJ JJ
that IN IN
in IN IN
modern JJ JJ
California NNP NNP
it PRP PRP
could MD MD
slide VB VB
through IN RB
. . .
<s>
This DT DT
is VBZ VBZ
the DT DT
state NN NN
that WDT WDT
recently RB RB
passed VBD VBD
the DT DT
Prop. NNP NNP
65 CD CD
anti-toxic JJ JJ
initiative NN NN
. . .
<s>
If IN IN
this DT DT
new JJ JJ
proposal NN NN
ever RB RB
does VBZ VBZ
become VB VBN
law NN NN
, , ,
the DT DT
green JJ JJ
lobby NN NN
will MD MD
benefit VB VB
directly RB RB
. . .
<s>
The DT DT
initiative NN NN
creates VBZ VBZ
a DT DT
free JJ JJ
floating VBG JJ
state NN NN
environmental JJ JJ
officer NN NN
to TO TO
sue VB VB
companies NNS NNS
or CC CC
government NN NN
agencies NNS NNS
that WDT WDT
do VBP VBP
things NNS NNS
he PRP PRP
does VBZ VBZ
n't RB RB
like VB VB
. . .
<s>
That DT DT
means VBZ VBZ
the DT DT
NRDC NNP NNP
and CC CC
such JJ JJ
groups NNS NNS
no RB RB
longer RB RBR
would MD MD
have VB VB
to TO TO
spend VB VB
as IN IN
much JJ JJ
money NN NN
on IN IN
litigation NN NN
; : :
taxpayers NNS NNS
would MD MD
bear VB VB
the DT DT
cost NN NN
. . .
<s>
Mr. NNP NNP
Van NNP NNP
de FW NNP
Kamp NNP NNP
and CC CC
his PRP$ PRP$
allies NNS NNS
may MD MD
be VB VB
hoping VBG VBG
that IN IN
the DT DT
environment NN NN
is VBZ VBZ
such PDT JJ
a DT DT
mom NN NN
and CC CC
apple-pie NN NN
issue NN NN
among IN IN
certain JJ JJ
segments NNS NNS
of IN IN
California NNP NNP
's POS POS
population NN NN
now RB RB
that IN IN
almost RB RB
any DT DT
collection NN NN
of IN IN
anti-scientific JJ JJ
, , ,
anti-pocketbook JJ JJ
nonsense NN NN
can MD MD
pass VB VB
under IN IN
its PRP$ PRP$
rubric : NN
. . .
<s>
Of IN IN
course NN NN
the DT DT
state NN NN
's POS POS
liberals NNS NNS
are VBP VBP
not RB RB
yet RB RB
a DT DT
nation NN NN
unto : IN
themselves PRP PRP
. . .
<s>
George NNP NNP
Bush NNP NNP
, , ,
for IN IN
example NN NN
, , ,
may MD MD
decide VB VB
that IN IN
he PRP PRP
does VBZ VBZ
n't RB RB
want VB VB
to TO TO
be VB VB
the DT DT
President NNP NNP
who WP WP
lost VBD VBD
control NN NN
of IN IN
interstate JJ JJ
commerce NN NN
to TO TO
an DT DT
attorney NN NN
general NN JJ
from IN IN
California NNP NNP
. . .
<s>
And CC CC
some DT DT
other JJ JJ
segments NNS NNS
of IN IN
California NNP NNP
's POS POS
political JJ JJ
and CC CC
media NNS NNS
culture NN NN
may MD MD
yet RB RB
start VB VB
to TO TO
point VB VB
out RP RP
that IN IN
the DT DT
initiative NN NN
would MD MD
impose VB VB
significant JJ JJ
costs NNS NNS
on IN IN
the DT DT
state NN NN
's POS POS
less RBR RBR
affluent JJ JJ
citizens NNS NNS
in IN IN
the DT DT
form NN NN
of IN IN
higher JJR JJR
food NN NN
prices NNS NNS
and CC CC
lost VBD VBN
jobs NNS NNS
. . .
<s>
This DT DT
grandiose JJ JJ
initiative NN NN
will MD MD
help VB VB
California NNP NNP
define VB VB
itself PRP PRP
for IN IN
the DT DT
future NN NN
either CC CC
as IN IN
a DT DT
state NN NN
still RB RB
tethered JJ VBN
to TO TO
economic JJ JJ
and CC CC
scientific JJ JJ
reality NN NN
, , ,
or CC CC
as IN IN
one CD CD
being VBG VBG
led VBN VBN
to TO TO
wherever WRB WRB
its PRP$ PRP$
la-la JJ JJ
activists NNS NNS
want VBP VBP
to TO TO
take VB VB
it PRP PRP
. . .
<s>
First RB RB
, , ,
there EX EX
was VBD VBD
a DT DT
death NN NN
watch NN NN
. . .
<s>
Then RB RB
exhilaration NN NN
. . .
<s>
Spurred VBN VBN
by IN IN
waves NNS NNS
of IN IN
large-scale JJ JJ
buying NN NN
in IN IN
blue-chip JJ JJ
stocks NNS NNS
, , ,
the DT DT
Dow NNP NNP
Jones NNP NNP
Industrial NNP NNP
Average NNP NNP
rallied VBD VBD
yesterday NN NN
and CC CC
erased VBD VBN
about IN RB
a DT DT
half NN NN
of IN IN
Friday NNP NNP
's POS POS
190.58-point JJ JJ
plunge NN NN
, , ,
gaining VBG VBG
88.12 CD CD
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. . .
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of IN IN
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days NNS NNS
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the DT DT
1987 CD CD
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. . .
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the DT DT
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. . .
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on IN IN
the DT DT
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749 CD CD
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of IN IN
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down RB RB
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. . .
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the DT DT
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1987 CD CD
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on IN IN
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at IN IN
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on IN IN
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of IN IN
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is VBZ VBZ
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needed VBD VBD
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. . .
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of IN IN
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of IN IN
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they PRP PRP
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, , ,
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on IN IN
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in IN IN
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before IN IN
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. . .
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Majority NNP NNP
Whip NNP NNP
William NNP NNP
Gray NNP NNP
owes VBZ VBZ
a DT DT
political JJ JJ
debt NN NN
to TO TO
Southern JJ JJ
agriculture NN NN
lawmakers NNS NNS
for IN IN
his PRP$ PRP$
rise NN NN
in IN IN
the DT DT
House NNP NNP
, , ,
and CC CC
the DT DT
Philadelphia NNP NNP
Democrat NNP NNP
used VBD VBD
his PRP$ PRP$
position NN NN
in IN IN
the DT DT
conference NN NN
to TO TO
salvage VB VB
the DT DT
exemption NN NN
from IN IN
a DT DT
total JJ JJ
ban NN NN
. . .
<s>
Although IN IN
the DT DT
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provision NN NN
has VBZ VBZ
attracted VBN VBN
the DT DT
most RBS RBS
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interest NN NN
, , ,
the DT DT
underlying JJ JJ
bill NN NN
was VBD VBD
the DT DT
subject NN NN
of IN IN
behind-the-scenes JJ JJ
lobbying NN VBG
because IN IN
of IN IN
its PRP$ PRP$
impact NN NN
on IN IN
air NN NN
transportation NN NN
and CC CC
the DT DT
more RBR RBR
mundane JJ JJ
, , ,
but CC CC
politically RB RB
important JJ JJ
, , ,
projects NNS NNS
of IN IN
members NNS NNS
. . .
<s>
In IN IN
a DT DT
stark JJ JJ
lesson NN NN
in IN IN
the DT DT
power NN NN
of IN IN
the DT DT
appropriations NNS NNS
committees NNS NNS
, , ,
the DT DT
House NNP NNP
deliberately RB RB
killed VBD VBD
a DT DT
handful NN NN
of IN IN
projects NNS NNS
backed VBN VBN
by IN IN
lawmakers NNS NNS
in IN IN
Florida NNP NNP
, , ,
Illinois NNP NNP
and CC CC
Pennsylvania NNP NNP
who WP WP
had VBD VBD
voted VBN VBN
against IN IN
the DT DT
panel NN NN
leadership NN NN
on IN IN
the DT DT
House NNP NNP
floor NN NN
. . .
<s>
`` `` ``
Anybody NN NN
can MD MD
vote VB VB
as IN IN
they PRP PRP
want VBP VBP
, , ,
'' '' ''
said VBD VBD
Rep. NNP NNP
William NNP NNP
Lehman NNP NNP
( ( (
D. NNP NNP
, , ,
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) ) )
, , ,
head NN NN
of IN IN
the DT DT
House NNP NNP
conferees NNS NNS
. . .
<s>
`` `` ``
But CC CC
if IN IN
you PRP PRP
make VBP VBP
a DT DT
request NN NN
, , ,
you PRP PRP
should MD MD
support VB VB
the DT DT
committee NN NN
. . .
<s>
'' '' ''
Within IN IN
the DT DT
Federal NNP NNP
Aviation NNP NNP
Administration NNP NNP
, , ,
the DT DT
final JJ JJ
bill NN NN
promises VBZ VBZ
to TO TO
increase VB VB
spending NN NN
for IN IN
facilities NNS NNS
and CC CC
equipment NN NN
by IN IN
more JJR JJR
than IN IN
20 CD CD
% NN NN
from IN IN
last JJ JJ
year NN NN
, , ,
and CC CC
total JJ JJ
operations NNS NNS
would MD MD
rise VB VB
to TO TO
$ $ $
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billion CD CD
-- : :
a DT DT
12 CD CD
% NN NN
boost NN NN
. . .
<s>
The DT DT
facilities NNS NNS
account NN NN
includes VBZ VBZ
$ $ $
40 CD CD
million CD CD
for IN IN
Denver NNP NNP
's POS POS
ambitious JJ JJ
new JJ JJ
airport NN NN
, , ,
and CC CC
the DT DT
competition NN NN
for IN IN
these DT DT
funds NNS NNS
created VBD VBD
shifting VBG VBG
alliances NNS NNS
between IN IN
urban JJ JJ
lawmakers NNS NNS
representing VBG VBG
established JJ VBN
airports NNS NNS
in IN IN
Philadelphia NNP NNP
and CC CC
Michigan NNP NNP
and CC CC
the DT DT
major JJ JJ
carriers NNS NNS
to TO TO
Denver NNP NNP
, , ,
United NNP NNP
and CC CC
Continental NNP NNP
. . .
<s>
Leery : JJ
of IN IN
the DT DT
costs NNS NNS
-- : :
and CC CC
, , ,
critics NNS NNS
say VBP VBP
, , ,
competition NN NN
-- : :
the DT DT
airlines NNS NNS
have VBP VBP
sought VBN VBN
to TO TO
gain VB VB
leverage NN NN
over IN IN
the DT DT
city NN NN
of IN IN
Denver NNP NNP
. . .
<s>
Texas NNP NNP
Air NNP NNP
Corp. NNP NNP
, , ,
which WDT WDT
owns VBZ VBZ
Continental NNP NNP
, , ,
and CC CC
the DT DT
Air NNP NNP
Transport NNP NNP
Association NNP NNP
were VBD VBD
prominent JJ JJ
in IN IN
the DT DT
lobbying NN VBG
. . .
<s>
The DT DT
industry NN NN
sought VBD VBD
to TO TO
impose VB VB
conditions NNS NNS
that WDT WDT
would MD MD
have VB VB
delayed VBN VBN
funds NNS NNS
for IN IN
the DT DT
project NN NN
until IN IN
Denver NNP NNP
and CC CC
the DT DT
airlines NNS NNS
had VBD VBD
agreed VBN VBN
to TO TO
leases NNS NNS
for IN IN
50 CD CD
% NN NN
of IN IN
the DT DT
gates NNS NNS
. . .
<s>
But CC CC
this DT DT
was VBD VBD
rejected VBN VBN
in IN IN
favor NN NN
of IN IN
much RB RB
looser JJR JJR
language NN NN
directing VBG VBG
the DT DT
Transportation NNP NNP
Department NNP NNP
to TO TO
review VB VB
the DT DT
costs NNS NNS
of IN IN
the DT DT
first JJ JJ
phase NN NN
, , ,
expected VBN VBN
to TO TO
cost VB VB
about IN RB
$ $ $
2 CD CD
billion CD CD
. . .
<s>
Though IN IN
smaller JJR JJR
in IN IN
total JJ JJ
dollars NNS NNS
, , ,
the DT DT
conference NN NN
agreed VBD VBD
to TO TO
preserve VB VB
an DT DT
estimated VBN VBN
$ $ $
30.6 CD CD
million CD CD
in IN IN
controversial JJ JJ
subsidies NNS NNS
to TO TO
carriers NNS NNS
serving VBG VBG
rural JJ JJ
or CC CC
isolated JJ VBN
airports NNS NNS
. . .
<s>
The DT DT
sum NN NN
is VBZ VBZ
more RBR RBR
than IN IN
double JJ RB
what WP WP
the DT DT
House NNP NNP
had VBD VBD
approved VBN VBN
for IN IN
the DT DT
program NN NN
, , ,
but CC CC
the DT DT
list NN NN
of IN IN
qualified JJ VBN
airports NNS NNS
would MD MD
be VB VB
cut VBN VBN
by IN IN
22 CD CD
under IN IN
new JJ JJ
distance NN NN
requirements NNS NNS
and CC CC
limits NNS NNS
on IN IN
the DT DT
level NN NN
of IN IN
subsidy NN NN
. . .
<s>
Congress NNP NNP
previously RB RB
cut VBD VBD
six CD CD
airports NNS NNS
this DT DT
year NN NN
. . .
<s>
The DT DT
impact NN NN
of IN IN
the DT DT
changes NNS NNS
is VBZ VBZ
to TO TO
eliminate VB VB
many JJ JJ
of IN IN
the DT DT
most RBS RBS
excessive JJ JJ
cases NNS NNS
where WRB WRB
the DT DT
government NN NN
has VBZ VBZ
been VBN VBN
paying VBG VBG
more JJR JJR
than IN IN
$ $ $
200 CD CD
for IN IN
each DT DT
passenger NN NN
in IN IN
subsidies NNS NNS
. . .
<s>
Among IN IN
rail NN NN
and CC CC
highway NN NN
accounts NNS NNS
, , ,
the DT DT
agreement NN NN
provides VBZ VBZ
$ $ $
615 CD CD
million CD CD
for IN IN
Amtrak NNP NNP
, , ,
including VBG VBG
$ $ $
85 CD CD
million CD CD
for IN IN
capital NN NN
improvements NNS NNS
. . .
<s>
And CC CC
federal-formula JJ JJ
grants NNS NNS
for IN IN
mass JJ NN
transit NN NN
would MD MD
be VB VB
effectively RB RB
frozen VBN VBN
at IN IN
$ $ $
1.625 CD CD
billion CD CD
, , ,
or CC CC
$ $ $
20 CD CD
million CD CD
more JJR JJR
than IN IN
last JJ JJ
fiscal JJ JJ
year NN NN
. . .
<s>
Enjoying VBG VBG
several JJ JJ
blockbuster JJ NN
movie NN NN
hits NNS NNS
including VBG VBG
`` `` ``
Batman NNP NNP
, , ,
'' '' ''
Los NNP NNP
Angeles-based JJ JJ
Guber-Peters NNP NNP
Entertainment NNP NNP
Co. NNP NNP
reported VBD VBD
earnings NNS NNS
for IN IN
the DT DT
first JJ JJ
quarter NN NN
ended VBN VBN
Aug. NNP NNP
31 CD CD
of IN IN
$ $ $
5.8 CD CD
million CD CD
, , ,
or CC CC
50 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
compared VBN VBN
with IN IN
a DT DT
year-earlier JJ JJ
loss NN NN
. . .
<s>
Sony NNP NNP
Corp. NNP NNP
, , ,
which WDT WDT
has VBZ VBZ
offered VBN VBN
to TO TO
acquire VB VB
the DT DT
movie-production NN JJ
company NN NN
, , ,
is VBZ VBZ
seeking VBG VBG
to TO TO
free VB VB
its PRP$ PRP$
top JJ JJ
executives NNS NNS
, , ,
Peter NNP NNP
Guber NNP NNP
and CC CC
Jon NNP NNP
Peters NNP NNP
, , ,
from IN IN
an DT DT
exclusive JJ JJ
agreement NN NN
with IN IN
Time NNP NNP
Warner NNP NNP
Inc. NNP NNP
's POS POS
Warner NNP NNP
Communications NNPS NNP
Inc. NNP NNP
so IN IN
they PRP PRP
can MD MD
run VB VB
Columbia NNP NNP
Pictures NNPS NNP
Entertainment NNP NNP
Inc NNP NNP
. . .
<s>
Sony NNP NNP
two CD CD
weeks NNS NNS
ago RB RB
agreed VBD VBD
to TO TO
acquire VB VB
Columbia NNP NNP
for IN IN
$ $ $
3.4 CD CD
billion CD CD
, , ,
or CC CC
$ $ $
27 CD CD
a DT DT
share NN NN
. . .
<s>
Warner NNP NNP
sued VBD VBD
Sony NNP NNP
and CC CC
Guber-Peters NNP NNS
late RB JJ
last JJ JJ
week NN NN
; : :
Sony NNP NNP
and CC CC
Guber-Peters NNP NNS
have VBP VBP
countersued VBD VBN
, , ,
charging VBG VBG
Warner NNP NNP
with IN IN
attempting VBG VBG
to TO TO
interfere VB VB
in IN IN
Sony NNP NNP
's POS POS
acquisition NN NN
of IN IN
the DT DT
two CD CD
companies NNS NNS
. . .
<s>
Guber-Peters NNP NNS
's POS POS
net JJ JJ
income NN NN
in IN IN
the DT DT
latest JJS JJS
quarter NN NN
compared VBN VBN
with IN IN
a DT DT
net JJ JJ
loss NN NN
of IN IN
$ $ $
6.9 CD CD
million CD CD
, , ,
or CC CC
62 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
in IN IN
the DT DT
year-earlier JJ JJ
period NN NN
. . .
<s>
The DT DT
company NN NN
said VBD VBD
revenue NN NN
rose VBD VBD
138 CD CD
% NN NN
, , ,
to TO TO
$ $ $
10.9 CD CD
million CD CD
from IN IN
$ $ $
4.6 CD CD
million CD CD
, , ,
reflecting VBG VBG
the DT DT
success NN NN
of IN IN
its PRP$ PRP$
movies NNS NNS
`` `` ``
Gorillas NNP NNP
in IN IN
the DT DT
Mist NNP NNP
'' '' ''
and CC CC
`` `` ``
Rainman NNP NNP
, , ,
'' '' ''
as RB RB
well RB RB
as IN IN
the DT DT
box-office NN NN
smash NN NN
`` `` ``
Batman NNP NNP
. . .
<s>
A DT DT
group NN NN
including VBG VBG
Jon NNP NNP
M. NNP NNP
Huntsman NNP NNP
of IN IN
Salt NNP NNP
Lake NNP NNP
City NNP NNP
, , ,
said VBD VBD
it PRP PRP
boosted VBD VBD
its PRP$ PRP$
stake NN NN
in IN IN
Aristech NNP NNP
Chemical NNP NNP
Corp. NNP NNP
to TO TO
8.36 CD CD
% NN NN
of IN IN
the DT DT
the DT DT
common JJ JJ
shares NNS NNS
outstanding JJ JJ
. . .
<s>
As IN IN
previously RB RB
reported VBN VBN
, , ,
Huntsman NNP NNP
Holdings NNP NNP
Corp. NNP NNP
, , ,
owned VBN VBN
by IN IN
Jon NNP NNP
M. NNP NNP
Huntsman NNP NNP
and CC CC
other JJ JJ
members NNS NNS
of IN IN
his PRP$ PRP$
family NN NN
, , ,
proposed VBD VBD
that IN IN
Banstar NNP NNP
Corp. NNP NNP
, , ,
an DT DT
affiliate NN NN
of IN IN
Huntsman NNP NNP
Holdings NNP NNP
, , ,
acquire NN VB
Aristech NNP NNP
in IN IN
a DT DT
friendly JJ JJ
transaction NN NN
for IN IN
$ $ $
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in IN IN
cash NN NN
, , ,
or CC CC
$ $ $
817.5 CD CD
million CD CD
. . .
<s>
In IN IN
a DT DT
filing NN NN
with IN IN
the DT DT
Securities NNPS NNP
and CC CC
Exchange NNP NNP
Commission NNP NNP
, , ,
the DT DT
Huntsman NNP NNP
group NN NN
said VBD VBD
it PRP PRP
controls VBZ VBZ
2,720,675 CD CD
Aristech NNP NNP
common JJ JJ
shares NNS NNS
, , ,
including VBG VBG
306,000 CD CD
shares NNS NNS
bought VBN VBN
from IN IN
Aug. NNP NNP
21 CD CD
to TO TO
Oct. NNP NNP
13 CD CD
for IN IN
$ $ $
20 CD CD
to TO TO
$ $ $
20.875 CD CD
per IN IN
share NN NN
. . .
<s>
Officials NNS NNS
at IN IN
Aristech NNP NNP
, , ,
based VBN VBN
in IN IN
Pittsburgh NNP NNP
, , ,
declined VBD VBD
comment NN NN
. . .
<s>
Congress NNP NNP
has VBZ VBZ
been VBN VBN
critical JJ JJ
of IN IN
the DT DT
Bush NNP NNP
administration NN NN
for IN IN
not RB RB
sending VBG VBG
enough JJ JJ
aid NN NN
to TO TO
Poland NNP NNP
, , ,
so IN IN
it PRP PRP
is VBZ VBZ
getting VBG VBG
ready JJ JJ
to TO TO
send VB VB
its PRP$ PRP$
own JJ JJ
version NN NN
of IN IN
a DT DT
CARE NNP NNP
package NN NN
. . .
<s>
Last JJ JJ
month NN NN
, , ,
the DT DT
Senate NNP NNP
voted VBD VBD
to TO TO
send VB VB
a DT DT
delegation NN NN
of IN IN
congressional JJ JJ
staffers NNS NNS
to TO TO
Poland NNP NNP
to TO TO
assist VB VB
its PRP$ PRP$
legislature NN NN
, , ,
the DT DT
Sejm NNP NNP
, , ,
in IN IN
democratic JJ JJ
procedures NNS NNS
. . .
<s>
Senator NNP NNP
Pete NNP NNP
Domenici NNP NNP
calls VBZ VBZ
this DT DT
effort NN NN
`` `` ``
the DT DT
first JJ JJ
gift NN NN
of IN IN
democracy NN NN
. . .
<s>
'' '' ''
The DT DT
Poles NNPS NNS
might MD MD
do VB VB
better RB RBR
to TO TO
view VB VB
it PRP PRP
as IN IN
a DT DT
Trojan NNP NNP
Horse NNP NNP
. . .
<s>
It PRP PRP
is VBZ VBZ
the DT DT
vast JJ JJ
shadow NN NN
government NN NN
of IN IN
15,000 CD CD
congressional JJ JJ
staffers NNS NNS
that WDT IN
helps VBZ VBZ
create VB VB
such JJ JJ
legislative JJ JJ
atrocities NNS NNS
as IN IN
the DT DT
1,376 CD CD
page NN NN
, , ,
13-pound JJ JJ
reconciliation NN NN
bill NN NN
that WDT WDT
claimed VBD VBD
to TO TO
be VB VB
the DT DT
budget NN NN
of IN IN
the DT DT
United NNP NNP
States NNPS NNP
. . .
<s>
Maybe RB RB
after IN IN
the DT DT
staffers NNS NNS
explain VBP VBP
their PRP$ PRP$
work NN NN
to TO TO
the DT DT
Poles NNPS NNS
, , ,
they PRP PRP
'd MD MD
be VB VB
willing JJ JJ
to TO TO
come VB VB
back RB RB
and CC CC
do VB VB
the DT DT
same JJ JJ
for IN IN
the DT DT
American JJ JJ
people NNS NNS
. . .
<s>
Waterford NNP NNP
Wedgwood NNP NNP
PLC NNP NNP
, , ,
a DT DT
financially RB RB
troubled JJ VBN
Irish JJ JJ
maker NN NN
of IN IN
fine JJ JJ
crystal NN NN
and CC CC
Wedgwood NNP NNP
china NNP NN
, , ,
reported VBD VBD
that IN DT
its PRP$ PRP$
pretax JJ JJ
loss NN NN
for IN IN
the DT DT
first JJ JJ
six CD CD
months NNS NNS
widened VBD VBD
to TO TO
10.6 CD CD
million CD CD
Irish NNP JJ
punts NNS NNS
( ( (
$ $ $
14.9 CD CD
million CD CD
) ) )
from IN IN
5.8 CD CD
million CD CD
Irish NNP JJ
punts VBZ NNS
a DT DT
year NN NN
earlier RBR RBR
. . .
<s>
The DT DT
results NNS NNS
for IN IN
the DT DT
half NN NN
were VBD VBD
worse JJR JJR
than IN IN
market NN NN
expectations NNS NNS
, , ,
which WDT WDT
suggested VBD VBD
an DT DT
interim JJ JJ
loss NN NN
of IN IN
around IN RB
10 CD CD
million CD CD
Irish JJ JJ
punts NNS NNS
. . .
<s>
In IN IN
a DT DT
sharply RB RB
weaker JJR JJR
London NNP NNP
market NN NN
yesterday NN NN
, , ,
Waterford NNP NNP
shares NNS NNS
were VBD VBD
down RB RB
15 CD CD
pence NN NNS
at IN IN
50 CD CD
pence NN NNS
( ( (
79 CD CD
cents NNS NNS
) ) )
. . .
<s>
The DT DT
company NN NN
reported VBD VBD
a DT DT
loss NN NN
after IN IN
taxation NN NN
and CC CC
minority NN NN
interests NNS NNS
of IN IN
14 CD CD
million CD CD
Irish JJ JJ
punts NNS NNS
, , ,
compared VBN VBN
with IN IN
a DT DT
loss NN NN
of IN IN
9.3 CD CD
million CD JJ
Irish NNP NNP
punts NNS NNS
for IN IN
the DT DT
year-earlier JJ JJ
period NN NN
. . .
<s>
There EX EX
were VBD VBD
n't RB RB
any DT DT
extraordinary JJ JJ
items NNS NNS
. . .
<s>
Sales NNS NNS
for IN IN
the DT DT
total JJ JJ
group NN NN
rose VBD VBD
27 CD CD
% NN NN
to TO TO
168.1 CD CD
million CD CD
Irish NNP JJ
punts NNS NNS
compared VBN VBN
with IN IN
132.6 CD CD
million CD CD
Irish NNP JJ
punts VBZ NNS
a DT DT
year NN NN
ago RB RB
. . .
<s>
Waterford NNP NNP
has VBZ VBZ
decided VBN VBN
against IN IN
paying VBG VBG
an DT DT
interim JJ JJ
dividend NN NN
. . .
<s>
Waterford NNP NNP
said VBD VBD
the DT DT
appointment NN NN
of IN IN
a DT DT
new JJ JJ
management NN NN
team NN NN
and CC CC
the DT DT
signing NN NN
of IN IN
a DT DT
comprehensive JJ JJ
labor NN NN
agreement NN NN
are VBP VBP
expected VBN VBN
to TO TO
enhance VB VB
the DT DT
company NN NN
's POS POS
long-term JJ JJ
prospects NNS NNS
. . .
<s>
The DT DT
sudden JJ JJ
`` `` ``
flight NN NN
to TO TO
quality NN NN
'' '' ''
that WDT WDT
triggered VBD VBD
Friday NNP NNP
's POS POS
explosive JJ JJ
bond-market NN JJ
rally NN NN
was VBD VBD
reversed VBN VBN
yesterday NN NN
in IN IN
a DT DT
`` `` ``
flight NN NN
from IN IN
quality NN NN
'' '' ''
rout NN NN
. . .
<s>
The DT DT
setback NN NN
, , ,
in IN IN
which WDT WDT
Treasury NNP NNP
bond NN NN
prices NNS NNS
plummeted VBD VBD
, , ,
reflected VBD VBD
a DT DT
rebound NN NN
in IN IN
the DT DT
stock NN NN
market NN NN
and CC CC
profit-taking NN NN
. . .
<s>
`` `` ``
It PRP PRP
was VBD VBD
a DT DT
pretty RB RB
wild JJ JJ
day NN NN
. . .
<s>
Our PRP$ PRP$
markets NNS NNS
were VBD VBD
closely RB RB
tied VBN VBN
to TO TO
the DT DT
stock NN NN
market NN NN
, , ,
'' '' ''
said VBD VBD
Joel NNP NNP
Kazis NNP NNP
, , ,
manager NN NN
of IN IN
trading NN NN
at IN IN
Smith NNP NNP
Barney NNP NNP
, , ,
Harris NNP NNP
Upham NNP NNP
& CC CC
Co NNP NNP
. . .
<s>
`` `` ``
Friday NNP NNP
's POS POS
flight NN NN
to TO TO
quality NN NN
was VBD VBD
no RB DT
longer RBR RBR
needed VBN VBN
once RB IN
the DT DT
stock NN NN
market NN NN
found VBD VBD
its PRP$ PRP$
legs NNS NNS
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
Some DT DT
fixed-income JJ JJ
investors NNS NNS
had VBD VBD
expected VBN VBN
a DT DT
further JJ JJ
drop NN NN
in IN IN
stock NN NN
prices NNS NNS
after IN IN
the DT DT
nearly RB RB
200-point JJ JJ
drop NN NN
in IN IN
the DT DT
Dow NNP NNP
Jones NNP NNP
Industrial NNP NNP
Average NNP NNP
on IN IN
Friday NNP NNP
. . .
<s>
That DT IN
caused VBD VBN
investors NNS NNS
to TO TO
flee VB VB
stocks NNS NNS
and CC CC
buy VB VB
high-quality JJ JJ
Treasury NNP NNP
bonds NNS NNS
, , ,
which WDT WDT
are VBP VBP
safer JJR JJR
than IN IN
other JJ JJ
types NNS NNS
of IN IN
securities NNS NNS
. . .
<s>
But CC CC
when WRB WRB
stocks NNS NNS
began VBD VBD
to TO TO
climb VB VB
instead RB RB
, , ,
prices NNS NNS
of IN IN
Treasury NNP NNP
bonds NNS NNS
declined VBD VBD
. . .
<s>
Contributing VBG VBG
to TO TO
the DT DT
selling NN NN
pressure NN NN
were VBD VBD
dispatches NNS NNS
by IN IN
several JJ JJ
investment NN NN
firms NNS NNS
advising VBG VBG
clients NNS NNS
to TO TO
boost VB VB
their PRP$ PRP$
stock NN NN
holdings NNS NNS
and CC CC
reduce VB VB
the DT DT
size NN NN
of IN IN
their PRP$ PRP$
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or CC CC
bond NN NN
portfolios NNS NNS
. . .
<s>
Among IN IN
the DT DT
firms NNS NNS
were VBD VBD
Merrill NNP NNP
Lynch NNP NNP
& CC CC
Co. NNP NNP
and CC CC
Dean NNP NNP
Witter NNP NNP
Reynolds NNP NNP
Inc NNP NNP
. . .
<s>
The DT DT
bond NN NN
market NN NN
seemed VBD VBD
to TO TO
ignore VB VB
evidence NN NN
that IN IN
the DT DT
Federal NNP NNP
Reserve NNP NNP
eased VBD VBD
credit NN NN
conditions NNS NNS
slightly RB RB
by IN IN
allowing VBG VBG
the DT DT
federal JJ JJ
funds NNS NNS
rate NN NN
to TO TO
drift VB VB
as RB RB
low JJ JJ
as IN IN
8 CD CD
1\/2 CD CD
% NN NN
. . .
<s>
The DT DT
closely RB RB
watched VBN VBN
rate NN NN
on IN IN
federal JJ JJ
funds NNS NNS
, , ,
or CC CC
overnight JJ JJ
loans NNS NNS
between IN IN
banks NNS NNS
, , ,
slid VBD VBD
to TO TO
about IN RB
8 CD CD
3\/4 CD CD
% NN NN
last JJ JJ
week NN NN
, , ,
down RB RB
from IN IN
its PRP$ PRP$
perceived VBN VBN
target NN NN
level NN NN
of IN IN
about IN RB
9 CD CD
% NN NN
. . .
<s>
The DT DT
rate NN NN
is VBZ VBZ
considered VBN VBN
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early JJ JJ
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of IN IN
changes NNS NNS
in IN IN
Fed NNP NNP
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. . .
<s>
Traders NNS NNS
said VBD VBD
yesterday NN NN
's POS POS
modest JJ JJ
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did VBD VBD
n't RB RB
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much JJ JJ
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because IN IN
it PRP PRP
had VBD VBD
been VBN VBN
widely RB RB
expected VBN VBN
. . .
<s>
In IN IN
fact NN NN
, , ,
some DT DT
economists NNS NNS
contend VBP VBP
that IN IN
the DT DT
latest JJS JJS
easing NN NN
started VBD VBD
last JJ JJ
week NN NN
. . .
<s>
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note VBP VBP
that IN IN
some DT DT
investors NNS NNS
were VBD VBD
disappointed VBN VBN
because IN IN
they PRP PRP
had VBD VBD
expected VBN VBN
a DT DT
more RBR RBR
aggressive JJ JJ
easing NN NN
. . .
<s>
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Treasury NNP NNP
's POS POS
benchmark NN NN
30-year JJ JJ
bond NN NN
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ended VBD VBD
about RB RB
1 CD CD
3\/4 CD CD
points NNS NNS
lower JJR RBR
, , ,
or CC CC
down RB RB
about IN RB
$ $ $
17.50 CD CD
for IN IN
each DT DT
$ $ $
1,000 CD CD
face NN NN
amount NN NN
. . .
<s>
The DT DT
reversal NN NN
was VBD VBD
even RB RB
more RBR RBR
evident JJ JJ
among IN IN
shorter-term JJ JJ
Treasury NNP NNP
securities NNS NNS
. . .
<s>
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Treasury NNP NNP
bill NN NN
rates NNS NNS
plummeted VBD VBD
as RB RB
much JJ RB
as IN IN
0.70 CD CD
percentage NN NN
point NN NN
on IN IN
Friday NNP NNP
, , ,
they PRP PRP
gave VBD VBD
back RB RB
three-fourths NNS JJ
of IN IN
that DT DT
amount NN NN
yesterday NN NN
. . .
<s>
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bond-equivalent JJ JJ
yield NN NN
on IN IN
three-month JJ JJ
Treasury NNP NNP
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, , ,
for IN IN
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, , ,
was VBD VBD
quoted VBN VBN
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at IN IN
7.72 CD CD
% NN NN
, , ,
compared VBN VBN
with IN IN
7.16 CD CD
% NN NN
Friday NNP NNP
. . .
<s>
Investment-grade JJ JJ
corporate JJ JJ
bonds NNS NNS
, , ,
mortgage-backed JJ JJ
securities NNS NNS
and CC CC
municipal JJ JJ
bonds NNS NNS
also RB RB
fell VBD VBD
. . .
<s>
But CC CC
prices NNS NNS
of IN IN
junk NN NN
bonds NNS NNS
, , ,
which WDT WDT
were VBD VBD
battered VBN VBN
Friday NNP NNP
in IN IN
near IN JJ
standstill JJ JJ
trading NN NN
, , ,
rebounded VBD VBD
to TO TO
post VB VB
small JJ JJ
gains NNS NNS
after IN IN
a DT DT
volatile JJ JJ
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session NN NN
. . .
<s>
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bonds NNS NNS
opened VBD VBD
as RB RB
much JJ RB
as IN IN
four CD CD
points NNS NNS
lower JJR RBR
but CC CC
staged VBD VBD
a DT DT
modest JJ JJ
comeback NN NN
as IN IN
stock NN NN
prices NNS NNS
firmed VBD VBD
. . .
<s>
Some DT DT
traders NNS NNS
said VBD VBD
the DT DT
high-yield JJ JJ
market NN NN
was VBD VBD
helped VBN VBN
by IN IN
active JJ JJ
institutional JJ JJ
buying NN NN
. . .
<s>
In IN IN
particular JJ JJ
, , ,
they PRP PRP
said VBD VBD
, , ,
firms NNS NNS
such JJ JJ
as IN IN
First NNP NNP
Boston NNP NNP
Corp. NNP NNP
and CC CC
Drexel NNP NNP
Burnham NNP NNP
Lambert NNP NNP
Inc. NNP NNP
began VBD VBD
making VBG VBG
a DT DT
market NN NN
in IN IN
junk NN NN
issues NNS NNS
early RB RB
in IN IN
the DT DT
session NN NN
when WRB WRB
prices NNS NNS
hit VBD VBD
severely RB RB
depressed JJ VBN
levels NNS NNS
. . .
<s>
`` `` ``
I PRP PRP
think VBP VBP
the DT DT
willingness NN NN
of IN IN
securities NNS NNS
companies NNS NNS
to TO TO
make VB VB
markets NNS NNS
for IN IN
high-yield JJ JJ
issues NNS NNS
improved VBD VBD
the DT DT
sentiment NN NN
for IN IN
junk NN NN
bonds NNS NNS
, , ,
'' '' ''
said VBD VBD
John NNP NNP
Lonski NNP NNP
, , ,
an DT DT
economist NN NN
at IN IN
Moody NNP NNP
's POS POS
Investors NNPS NNP
Service NNP NNP
Inc NNP NNP
. . .
<s>
U.S. NNP NNP
Treasury NNP NNP
bonds NNS NNS
were VBD VBD
higher JJR JJR
in IN IN
overnight JJ JJ
trading NN NN
in IN IN
Japan NNP NNP
, , ,
which WDT WDT
opened VBD VBD
at IN IN
about RB RB
7:30 CD CD
p.m. RB NN
EDT NNP NNP
. . .
<s>
The DT DT
benchmark JJ NN
30-year JJ JJ
bond NN NN
, , ,
for IN IN
example NN NN
rose VBD VBD
one CD CD
point NN NN
in IN IN
early JJ JJ
Japanese JJ JJ
trading NN NN
in IN IN
reaction NN NN
to TO TO
a DT DT
quick JJ JJ
600-point JJ JJ
drop NN NN
in IN IN
the DT DT
Tokyo NNP NNP
stock NN NN
market NN NN
. . .
<s>
But CC CC
as IN IN
Japanese JJ JJ
stocks NNS NNS
rebounded VBD VBD
, , ,
Treasurys NNPS NNPS
retreated VBD VBD
and CC CC
ended VBD VBD
just RB RB
modestly RB RB
higher JJR RBR
. . .
<s>
Many JJ JJ
U.S. NNP NNP
trading NN NN
operations NNS NNS
, , ,
wanting VBG VBG
to TO TO
keep VB VB
a DT DT
watchful JJ JJ
eye NN NN
on IN IN
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trading NN NN
as IN IN
an DT DT
indication NN NN
of IN IN
where WRB WRB
U.S. NNP NNP
trading NN NN
would MD MD
begin VB VB
, , ,
were VBD VBD
fully RB RB
staffed VBN VBN
during IN IN
the DT DT
Tokyo NNP NNP
trading NN NN
session NN NN
. . .
<s>
`` `` ``
Most JJS JJS
of IN IN
the DT DT
action NN NN
was VBD VBD
during IN IN
the DT DT
night NN NN
session NN NN
, , ,
'' '' ''
said VBD VBD
Michael NNP NNP
Moore NNP NNP
, , ,
trading NN NN
manager NN NN
at IN IN
Continental NNP NNP
Bank NNP NNP
. . .
<s>
Jay NNP NNP
Goldinger NNP NNP
, , ,
who WP WP
often RB RB
trades VBZ VBZ
overnight JJ RB
for IN IN
Capital NNP NNP
Insight NNP NNP
Inc. NNP NNP
, , ,
Beverly NNP NNP
Hills NNP NNP
, , ,
Calif. NNP NNP
, , ,
said VBD VBD
trading NN NN
in IN IN
Tokyo NNP NNP
was VBD VBD
`` `` ``
very RB RB
active JJ JJ
'' '' ''
but CC CC
highly RB RB
volatile JJ JJ
. . .
<s>
`` `` ``
We PRP PRP
went VBD VBD
down RB RB
3\/4 CD CD
point NN NN
in IN IN
10 CD CD
minutes NNS NNS
right RB RB
before IN IN
lunch NN NN
, , ,
then RB RB
after IN IN
lunch NN NN
we PRP PRP
went VBD VBD
up RB RB
3\/4 CD CD
point NN NN
in IN IN
12 CD CD
minutes NNS NNS
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
In IN IN
Tokyo NNP NNP
, , ,
trading NN NN
is VBZ VBZ
halted VBN VBN
during IN IN
lunchtime : NN
. . .
<s>
Tokyo NNP NNP
's POS POS
market NN NN
turned VBD VBD
out RP RP
to TO TO
be VB VB
a DT DT
bad JJ JJ
bellwether NN NN
for IN IN
U.S. NNP NNP
trading NN NN
. . .
<s>
When WRB WRB
the DT DT
market NN NN
opened VBD VBD
here RB RB
, , ,
bonds NNS NNS
prices NNS NNS
fell VBD VBD
as IN IN
the DT DT
stock NN NN
market NN NN
regained VBD VBD
strength NN NN
. . .
<s>
The DT DT
bond NN NN
market NN NN
's POS POS
focus NN NN
on IN IN
stock NN NN
activity NN NN
was VBD VBD
so RB RB
strong JJ JJ
yesterday NN NN
that IN IN
it PRP PRP
overshadowed VBN VBD
today NN NN
's POS POS
slate NN NN
of IN IN
economic JJ JJ
data NNS NNS
, , ,
which WDT WDT
includes VBZ VBZ
the DT DT
government NN NN
's POS POS
report NN NN
on IN IN
August NNP NNP
U.S. NNP NNP
merchandise NN NN
trade NN NN
and CC CC
September NNP NNP
industrial JJ JJ
production NN NN
. . .
<s>
Industrial JJ JJ
production NN NN
is VBZ VBZ
expected VBN VBN
to TO TO
have VB VB
declined VBN VBN
0.2 CD CD
% NN NN
, , ,
according VBG VBG
to TO TO
a DT DT
consensus NN NN
of IN IN
economists NNS NNS
surveyed VBN VBN
by IN IN
Dow NNP NNP
Jones NNP NNP
Capital NNP NNP
Markets NNPS NNP
Report NNP NNP
. . .
<s>
The DT DT
August NNP NNP
trade NN NN
deficit NN NN
is VBZ VBZ
expected VBN VBN
to TO TO
have VB VB
widened VBN VBN
to TO TO
$ $ $
9.1 CD CD
billion CD CD
from IN IN
$ $ $
7.58 CD CD
billion CD CD
in IN IN
July NNP NNP
. . .
<s>
A DT DT
widening NN NN
of IN IN
that DT DT
magnitude NN NN
, , ,
said VBD VBD
one CD CD
New NNP NNP
York NNP NNP
trader NN NN
, , ,
is VBZ VBZ
`` `` ``
not RB RB
a DT DT
favorable JJ JJ
number NN NN
... : :
. . .
<s>
It PRP PRP
could MD MD
do VB VB
damage VB NN
to TO TO
us PRP PRP
. . .
<s>
'' '' ''
Meanwhile RB RB
, , ,
agency NN NN
supply NN NN
is VBZ VBZ
expected VBN VBN
to TO TO
weigh VB VB
heavily RB RB
on IN IN
the DT DT
market NN NN
today NN NN
when WRB WRB
the DT DT
Federal NNP NNP
Home NNP NNP
Loan NNP NNP
Bank NNP NNP
prices NNS VBZ
a DT DT
$ $ $
2.3 CD CD
billion CD CD
offering NN NN
of IN IN
one-year JJ JJ
, , ,
three-year JJ JJ
, , ,
five-year JJ JJ
and CC CC
10-year JJ JJ
maturities NNS NNS
. . .
<s>
Tomorrow NN NN
, , ,
the DT DT
Resolution NNP NNP
Funding NNP NNP
Corp. NNP NNP
will MD MD
provide VB VB
details NNS NNS
of IN IN
its PRP$ PRP$
first JJ JJ
bond NN NN
issue NN NN
, , ,
which WDT WDT
is VBZ VBZ
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to TO TO
total VB VB
between IN IN
$ $ $
4 CD CD
billion CD CD
and CC CC
$ $ $
6 CD CD
billion CD CD
and CC CC
carry VB VB
a DT DT
maturity NN NN
greater JJR JJR
than IN IN
20 CD CD
years NNS NNS
. . .
<s>
Resolution NNP NNP
Funding NNP NNP
is VBZ VBZ
a DT DT
division NN NN
of IN IN
Resolution NNP NNP
Trust NNP NNP
Corp. NNP NNP
, , ,
the DT DT
new JJ JJ
federal JJ JJ
agency NN NN
created VBN VBN
to TO TO
bail VB VB
out RP RP
the DT DT
nation NN NN
's POS POS
troubled JJ VBN
thrifts NNS NNS
. . .
<s>
And CC CC
this DT DT
week NN NN
the DT DT
Tennessee NNP NNP
Valley NNP NNP
Authority NNP NNP
plans VBZ VBZ
to TO TO
price VB VB
a DT DT
$ $ $
3 CD CD
billion CD CD
offering NN NN
, , ,
its PRP$ PRP$
first JJ JJ
public JJ NN
debt NN NN
borrowing NN NN
in IN IN
15 CD CD
years NNS NNS
. . .
<s>
`` `` ``
There EX EX
's VBZ POS
lots NNS NNS
of IN IN
supply NN NN
, , ,
'' '' ''
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York NNP NNP
trader NN NN
said VBD VBD
. . .
<s>
`` `` ``
We PRP PRP
have VBP VBP
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couple NN NN
or CC CC
three CD CD
tough JJ JJ
weeks NNS NNS
coming VBG VBG
. . .
<s>
'' '' ''
Treasury NNP NNP
Securities NNPS NNP
Prices NNS NNP
of IN IN
Treasury NNP NNP
bonds NNS NNS
tumbled VBD VBD
in IN IN
moderate JJ JJ
to TO TO
active JJ JJ
trading NN NN
. . .
<s>
The DT DT
benchmark JJ NN
30-year JJ JJ
Treasury NNP NNP
bond NN NN
was VBD VBD
quoted VBN VBN
late RB RB
at IN IN
a DT DT
price NN NN
of IN IN
101 CD CD
19\/32 CD CD
, , ,
compared VBN VBN
with IN IN
a DT DT
closing NN NN
price NN NN
of IN IN
103 CD CD
12\/32 CD CD
Friday NNP NNP
. . .
<s>
The DT DT
yield NN NN
on IN IN
the DT DT
benchmark JJ NN
issue NN NN
rose VBD VBD
to TO TO
7.97 CD CD
% NN NN
from IN IN
7.82 CD CD
% NN NN
. . .
<s>
The DT DT
latest JJS JJS
10-year JJ JJ
notes NNS NNS
were VBD VBD
quoted VBN VBN
late RB RB
at IN IN
100 CD CD
3\/32 CD CD
for IN IN
a DT DT
yield NN NN
of IN IN
7.97 CD CD
% NN NN
, , ,
compared VBN VBN
with IN IN
101 CD CD
9\/32 CD CD
to TO TO
yield VB VB
7.84 CD CD
% NN NN
. . .
<s>
Short-term JJ JJ
interest NN NN
rates NNS NNS
fell VBD VBD
yesterday NN NN
at IN IN
the DT DT
government NN NN
's POS POS
weekly JJ JJ
Treasury NNP NNP
bill NN NN
auction NN NN
. . .
<s>
The DT DT
average JJ JJ
discount NN NN
rate NN NN
on IN IN
new JJ JJ
three-month JJ JJ
Treasury NNP NNP
bills NNS NNS
was VBD VBD
7.37 CD CD
% NN NN
, , ,
the DT DT
lowest JJS JJS
since IN IN
the DT DT
average NN NN
of IN IN
7.36 CD CD
% NN NN
at IN IN
the DT DT
auction NN NN
on IN IN
Oct. NNP NNP
17 CD CD
, , ,
1988 CD CD
. . .
<s>
The DT DT
average JJ JJ
discount NN NN
rate NN NN
was VBD VBD
7.42 CD CD
% NN NN
on IN IN
new JJ JJ
six-month JJ JJ
bills NNS NNS
, , ,
the DT DT
lowest JJS JJS
since IN IN
the DT DT
average NN NN
of IN IN
7.35 CD CD
% NN NN
at IN IN
the DT DT
auction NN NN
on IN IN
July NNP NNP
31 CD CD
, , ,
1989 CD CD
. . .
<s>
Here RB RB
are VBP VBP
auction NN NN
details NNS NNS
: : :
Rates NNS NNS
are VBP VBP
determined VBN VBN
by IN IN
the DT DT
difference NN NN
between IN IN
the DT DT
purchase NN NN
price NN NN
and CC CC
face NN NN
value NN NN
. . .
<s>
Thus RB RB
, , ,
higher JJR JJR
bidding NN NN
narrows VBZ VBZ
the DT DT
investor NN NN
's POS POS
return NN NN
while IN IN
lower JJR JJR
bidding NN NN
widens VBZ VBZ
it PRP PRP
. . .
<s>
The DT DT
percentage NN NN
rates NNS NNS
are VBP VBP
calculated VBN VBN
on IN IN
a DT DT
360-day JJ JJ
year NN NN
, , ,
while IN IN
the DT DT
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yield NN NN
is VBZ VBZ
based VBN VBN
on IN IN
a DT DT
365-day JJ JJ
year NN NN
. . .
<s>
Both DT DT
issues NNS NNS
are VBP VBP
dated VBN VBN
Oct. NNP NNP
19 CD CD
. . .
<s>
The DT DT
13-week JJ JJ
bills NNS NNS
mature VBP VBP
Jan. NNP NN
18 CD CD
, , ,
1990 CD CD
, , ,
and CC CC
the DT DT
26-week JJ JJ
bills NNS NNS
mature VBP VBP
April NNP NNP
19 CD CD
, , ,
1990 CD CD
. . .
<s>
Corporate JJ JJ
Issues NNS NNS
Investment-grade JJ JJ
corporate JJ JJ
bonds NNS NNS
ended VBD VBD
one CD CD
to TO TO
1 CD CD
1\/2 CD CD
point NN NN
lower JJR RBR
. . .
<s>
There EX EX
were VBD VBD
no DT DT
new JJ JJ
issues NNS NNS
. . .
<s>
Foreign JJ JJ
Bonds NNS NNS
Foreign JJ JJ
bonds NNS NNS
surged VBD VBD
as IN IN
the DT DT
dollar NN NN
weakened VBD VBD
against IN IN
most JJS JJS
major JJ JJ
currencies NNS NNS
. . .
<s>
Among IN IN
benchmark JJ NN
issues NNS NNS
: : :
-- : :
Japan NNP NNP
's POS POS
No. NN NN
111 CD CD
4.6 CD CD
% NN NN
bond NN NN
due JJ JJ
1998 CD CD
ended VBD VBD
on IN IN
brokers NNS NNS
screens NNS NNS
at IN IN
96.15 CD CD
, , ,
up RB RB
1.17 CD CD
point NN NN
. . .
<s>
The DT DT
yield NN NN
was VBD VBD
5.245 CD CD
% NN NN
. . .
<s>
-- : :
West NNP NNP
Germany NNP NNP
's POS POS
6 CD CD
3\/4 CD CD
% NN NN
issue NN NN
due JJ JJ
June NNP NNP
1999 CD CD
ended VBD VBD
at IN IN
98.30 CD CD
, , ,
up RB RB
0.91 CD CD
point NN NN
to TO TO
yield VB VB
6.99 CD CD
% NN NN
. . .
<s>
-- : :
Britain NNP NNP
's POS POS
11 CD CD
3\/4 CD CD
% NN NN
bond NN NN
due JJ JJ
2003\/2007 CD CD
ended VBD VBD
1 CD CD
1\/8 CD CD
higher JJR RBR
at IN IN
111 CD CD
19\/32 CD CD
to TO TO
yield VB VB
10.12 CD CD
% NN NN
, , ,
while IN IN
the DT DT
11 CD CD
3\/4 CD CD
% NN NN
notes NNS NNS
due JJ JJ
1991 CD CD
rose VBD VBD
21\/32 CD CD
to TO TO
98 CD CD
26\/32 CD CD
to TO TO
yield VB VB
12.74 CD CD
% NN NN
. . .
<s>
Mortgage-Backed JJ JJ
Securities NNS NNS
Mortgage NN NN
securities NNS NNS
gave VBD VBD
up RP RP
most JJS JJS
of IN IN
Friday NNP NNP
's POS POS
gains NNS NNS
as IN IN
active JJ JJ
issues NNS NNS
ended VBD VBD
24\/32 CD CD
to TO TO
30\/32 CD CD
point NN NN
lower JJR RBR
. . .
<s>
Dealers NNS NNS
said VBD VBD
morning NN NN
activity NN NN
was VBD VBD
hectic JJ JJ
as IN IN
prices NNS NNS
dropped VBD VBD
in IN IN
response NN NN
to TO TO
gains NNS NNS
in IN IN
the DT DT
stock NN NN
market NN NN
and CC CC
losses NNS NNS
in IN IN
Treasury NNP NNP
securities NNS NNS
, , ,
but CC CC
trading NN NN
slowed VBD VBD
to TO TO
moderate JJ JJ
levels NNS NNS
in IN IN
the DT DT
afternoon NN NN
. . .
<s>
Government NNP NNP
National NNP NNP
Mortgage NNP NNP
Association NNP NNP
9 CD CD
% NN NN
securities NNS NNS
for IN IN
November NNP NNP
delivery NN NN
were VBD VBD
quoted VBN VBN
late JJ JJ
yesterday NN NN
at IN IN
98 CD CD
4\/32 CD CD
, , ,
down RB RB
30\/32 CD CD
from IN IN
Friday NNP NNP
; : :
9 CD CD
1\/2 CD CD
% NN NN
securities NNS NNS
were VBD VBD
down RB RB
27\/32 CD CD
at IN IN
100 CD CD
5\/32 CD CD
; : :
and CC CC
10 CD CD
% NN NN
securities NNS NNS
were VBD VBD
at IN IN
102 CD CD
2\/32 CD CD
, , ,
off RB JJ
24\/32 CD CD
. . .
<s>
Federal NNP NNP
Home NNP NNP
Loan NNP NNP
Mortgage NNP NNP
Corp. NNP NNP
9 CD CD
% NN NN
securities NNS NNS
were VBD VBD
at IN IN
97 CD CD
1\/4 CD CD
, , ,
down RB RB
3\/4 CD CD
. . .
<s>
On IN IN
Friday NNP NNP
, , ,
mortgage NN NN
issues NNS NNS
gained VBD VBD
as RB RB
much JJ RB
as IN IN
1 CD CD
5\/32 CD CD
. . .
<s>
Late RB JJ
yesterday NN NN
Ginnie NNP NNP
Mae NNP NNP
9 CD CD
% NN NN
securities NNS NNS
were VBD VBD
yielding VBG VBG
9.39 CD CD
% NN NN
to TO TO
a DT DT
12-year JJ JJ
average JJ NN
life NN NN
assumption NN NN
, , ,
as IN IN
the DT DT
spread NN NN
above IN IN
the DT DT
Treasury NNP NNP
10-year JJ JJ
note NN NN
narrowed VBD VBD
0.01 CD CD
percentage NN NN
point NN NN
to TO TO
1.42 CD CD
. . .
<s>
Traders NNS NNS
said VBD VBD
there EX EX
were VBD VBD
some DT DT
busy JJ JJ
dealings NNS NNS
in IN IN
Freddie NNP NNP
Mac NNP NNP
and CC CC
Federal NNP NNP
National NNP NNP
Mortgage NNP NNP
Association NNP NNP
securities NNS NNS
because IN IN
underwriters NNS NNS
from IN IN
last JJ JJ
week NN NN
's POS POS
heavy JJ JJ
slate NN NN
of IN IN
real JJ JJ
estate NN NN
mortgage NN NN
investment NN NN
conduit NN NN
issues NNS NNS
moved VBD VBD
to TO TO
gather VB VB
collateral NN NN
for IN IN
new JJ JJ
deals NNS NNS
. . .
<s>
Offsetting VBG VBG
the DT DT
Remic-related JJ JJ
purchases NNS NNS
were VBD VBD
continued VBN VBN
heavy JJ JJ
sales NNS NNS
by IN IN
mortgage NN NN
originators NNS NNS
, , ,
which WDT WDT
are VBP VBP
producing VBG VBG
increased VBN VBN
amounts NNS NNS
of IN IN
fixed-rate JJ JJ
mortgage-backed JJ JJ
issues NNS NNS
with IN IN
lower JJR JJR
rates NNS NNS
. . .
<s>
There EX EX
was VBD VBD
no DT DT
new-issue JJ JJ
activity NN NN
in IN IN
the DT DT
derivative JJ JJ
market NN NN
. . .
<s>
Municipals NNS NNS
Rebounding : VBG
stocks NNS NNS
and CC CC
weaker JJR JJR
Treasury NNP NNP
prices NNS NNS
drove VBD VBD
municipal JJ JJ
bonds NNS NNS
1\/4 CD CD
to TO TO
3\/4 CD CD
point NN NN
lower JJR RBR
in IN IN
late JJ JJ
dealings NNS NNS
. . .
<s>
The DT DT
session NN NN
losses NNS NNS
left VBD VBD
municipal JJ JJ
dollar NN NN
bonds NNS NNS
close RB JJ
to TO TO
where WRB WRB
they PRP PRP
were VBD VBD
before IN IN
the DT DT
190.58-point JJ JJ
drop NN NN
in IN IN
the DT DT
Dow NNP NNP
Jones NNP NNP
Industrial NNP NNP
Average NNP NNP
Friday NNP NNP
prompted VBD VBD
a DT DT
capital NN NN
markets NNS NNS
rally VBP NN
. . .
<s>
Trading NN NN
was VBD VBD
hectic JJ JJ
during IN IN
the DT DT
morning NN NN
, , ,
with IN IN
players NNS NNS
trying VBG VBG
to TO TO
gauge VB VB
whether IN IN
equities NNS NNS
would MD MD
continue VB VB
Friday NNP NNP
's POS POS
free JJ JJ
fall NN NN
or CC CC
stabilize VB VB
after IN IN
a DT DT
brief JJ JJ
spot NN NN
of IN IN
weakness NN NN
. . .
<s>
Tax-exempts NNS NNS
started VBD VBD
the DT DT
session NN NN
flat JJ JJ
to TO TO
a DT DT
touch NN NN
higher RBR RBR
on IN IN
anticipation NN NN
of IN IN
further JJ JJ
stock NN NN
market NN NN
erosion NN NN
, , ,
but CC CC
bond NN NN
prices NNS NNS
rapidly RB RB
turned VBD VBD
south RB JJ
as IN IN
it PRP PRP
became VBD VBD
more RBR RBR
clear JJ JJ
that IN IN
a DT DT
repeat NN NN
of IN IN
the DT DT
October NNP NNP
1987 CD CD
crash NN NN
was VBD VBD
n't RB RB
at IN IN
hand NN NN
. . .
<s>
Professionals NNS NNS
dominated VBD VBD
municipal JJ JJ
trading NN NN
throughout IN IN
the DT DT
session NN NN
. . .
<s>
Traders NNS NNS
said VBD VBD
retail JJ JJ
investors NNS NNS
seemed VBD VBD
to TO TO
be VB VB
hugging VBG VBG
the DT DT
sidelines NNS NNS
until IN IN
a DT DT
measure NN NN
of IN IN
volatility NN NN
is VBZ VBZ
wrung VBG VB
out IN RP
of IN IN
the DT DT
market NN NN
. . .
<s>
New NNP NNP
Jersey NNP NNP
Turnpike NNP NNP
Authority NNP NNP
's POS POS
7.20 CD CD
% NN NN
issue NN NN
of IN IN
2018 CD CD
was VBD VBD
off RB JJ
3\/4 CD CD
at IN IN
98 CD CD
1\/2 CD CD
bid NN NN
, , ,
yielding VBG VBG
7.32 CD CD
% NN NN
, , ,
up RB RB
0.07 CD CD
percentage NN NN
point NN NN
from IN IN
late JJ JJ
Friday NNP NNP
. . .
<s>
Florida NNP NNP
Board NNP NNP
of IN IN
Education NNP NNP
's POS POS
7 CD CD
1\/4 CD CD
% NN NN
issue NN NN
of IN IN
2023 CD CD
was VBD VBD
5\/8 CD CD
point NN NN
weaker JJR JJR
at IN IN
99 CD CD
1\/2 CD CD
bid NN NN
. . .
<s>
The DT DT
7 CD CD
1\/8 CD CD
% NN NN
issue NN NN
of IN IN
Triborough NNP NNP
Bridge NNP NNP
and CC CC
Tunnel NNP NNP
Authority NNP NNP
of IN IN
New NNP NNP
York NNP NNP
, , ,
due RB JJ
2019 CD CD
, , ,
was VBD VBD
off JJ JJ
5\/8 CD CD
at IN IN
98 CD CD
1\/8 CD CD
bid NN NN
. . .
<s>
And CC CC
Fairfax NNP NNP
County NNP NNP
, , ,
Va. NNP NNP
, , ,
Water NNP NNP
Authority NNP NNP
's POS POS
7 CD CD
1\/4 CD CD
% NN NN
issue NN NN
of IN IN
2027 CD CD
was VBD VBD
down RB RB
3\/4 CD CD
at IN IN
99 CD CD
7\/8 CD CD
bid NN NN
. . .
<s>
Serial JJ JJ
bond NN NN
yields NNS NNS
were VBD VBD
up RB RB
about IN RB
0.05 CD CD
percentage NN NN
point NN NN
. . .
<s>
BMA NNP NNP
Corp. NNP NNP
, , ,
Kansas NNP NNP
City NNP NNP
, , ,
Mo. NNP NNP
, , ,
said VBD VBD
it PRP PRP
's VBZ VBZ
weighing VBG VBG
`` `` ``
strategic JJ JJ
alternatives NNS NNS
, , ,
'' '' ''
for IN IN
its PRP$ PRP$
Business NNP NNP
Men NNP NNP
's POS POS
Assurance NNP NNP
Co. NNP NNP
unit NN NN
, , ,
and CC CC
is VBZ VBZ
contacting VBG VBG
possible JJ JJ
buyers NNS NNS
of IN IN
the DT DT
life NN NN
and CC CC
health NN NN
insurance NN NN
operation NN NN
. . .
<s>
A DT DT
BMA NNP NNP
spokesman NN NN
said VBD VBD
`` `` ``
runaway JJ JJ
medical JJ JJ
costs NNS NNS
'' '' ''
have VBP VBP
made VBN VBN
health NN NN
insurance NN NN
`` `` ``
a DT DT
significant JJ JJ
challenge NN NN
, , ,
'' '' ''
and CC CC
margins NNS NNS
also RB RB
have VBP VBP
been VBN VBN
pinched VBN VBN
by IN IN
changes NNS NNS
in IN IN
the DT DT
mix NN NN
of IN IN
life-insurance NN JJ
products NNS NNS
consumers NNS NNS
now RB RB
demand VBP VBP
. . .
<s>
The DT DT
Business NNP NNP
Men NNP NNP
's POS POS
Assurance NNP NNP
unit NN NN
represented VBD VBD
about IN RB
$ $ $
288 CD CD
million CD CD
of IN IN
the DT DT
company NN NN
's POS POS
$ $ $
488 CD CD
million CD CD
in IN IN
1988 CD CD
revenue NN NN
, , ,
and CC CC
the DT DT
unit NN NN
's POS POS
operating NN VBG
income NN NN
was VBD VBD
about IN RB
$ $ $
10 CD CD
million CD CD
, , ,
said VBD VBD
the DT DT
spokesman NN NN
. . .
<s>
BMA NNP NNP
's POS POS
investment NN NN
banker NN NN
, , ,
Alex NNP NNP
. . .
<s>
Brown NNP NNP
& CC CC
Sons NNPS NNP
Inc. NNP NNP
, , ,
has VBZ VBZ
been VBN VBN
authorized VBN VBN
to TO TO
contact VB VB
possible JJ JJ
buyers NNS NNS
for IN IN
the DT DT
unit NN NN
. . .
<s>
Laidlaw NNP NNP
Transportation NNP NNP
Ltd. NNP NNP
said VBD VBD
it PRP PRP
raised VBD VBD
its PRP$ PRP$
stake NN NN
in IN IN
ADT NNP NNP
Ltd. NNP NNP
of IN IN
Bermuda NNP NNP
to TO TO
29.4 CD CD
% NN NN
from IN IN
28 CD CD
% NN NN
. . .
<s>
A DT DT
spokesman NN NN
for IN IN
Laidlaw NNP NNP
declined VBD VBD
to TO TO
disclose VB VB
the DT DT
price NN NN
the DT DT
Toronto NNP NNP
transportation NN NN
and CC CC
waste NN NN
services NNS NNS
concern NN NN
paid VBN VBD
for IN IN
the DT DT
additional JJ JJ
shares NNS NNS
, , ,
which WDT WDT
he PRP PRP
said VBD VBD
were VBD VBD
acquired VBN VBD
`` `` ``
over IN IN
the DT DT
last JJ JJ
couple NN NN
of IN IN
weeks NNS NNS
. . .
<s>
'' '' ''
The DT DT
spokesman NN NN
said VBD VBD
Laidlaw NNP NNP
would MD MD
n't RB RB
increase VB VB
its PRP$ PRP$
stake NN NN
in IN IN
ADT NNP NNP
beyond IN IN
30 CD CD
% NN NN
`` `` ``
without IN IN
a DT DT
great JJ JJ
deal NN NN
of IN IN
thought NN NN
'' '' ''
because IN IN
of IN IN
British JJ JJ
takeover NN NN
regulations NNS NNS
that WDT WDT
require VBP VBP
a DT DT
company NN NN
acquiring VBG VBG
more JJR JJR
than IN IN
30 CD CD
% NN NN
to TO TO
extend VB VB
an DT DT
offer NN NN
to TO TO
the DT DT
rest NN NN
of IN IN
the DT DT
company NN NN
's POS POS
shareholders NNS NNS
. . .
<s>
ADT NNP NNP
, , ,
a DT DT
security NN NN
services NNS NNS
and CC CC
auctions NNS NNS
company NN NN
, , ,
trades VBZ VBZ
on IN IN
London NNP NNP
's POS POS
Stock NNP NNP
Exchange NNP NNP
. . .
<s>
Laidlaw NNP NNP
is VBZ VBZ
47%-controlled JJ CD
by IN IN
Canadian NNP NNP
Pacific NNP NNP
Ltd. NNP NNP
, , ,
a DT DT
Montreal NNP NNP
transportation NN NN
, , ,
resources NNS NNS
and CC CC
industrial JJ JJ
holding NN VBG
concern NN NN
. . .
<s>
Nintendo NNP NNP
Co. NNP NNP
, , ,
a DT DT
Japanese JJ JJ
maker NN NN
of IN IN
video NN JJ
games NNS NNS
, , ,
electronic JJ JJ
information NN NN
systems NNS NNS
and CC CC
playing VBG NN
cards NNS NNS
, , ,
posted VBD VBD
a DT DT
23 CD CD
% NN NN
unconsolidated JJ VBD
surge NN NN
in IN IN
pretax JJ JJ
profit NN NN
to TO TO
61.41 CD CD
billion CD CD
yen NNS NNS
( ( (
$ $ $
429 CD CD
million CD CD
) ) )
from IN IN
50 CD CD
billion CD CD
yen NNS NNS
( ( (
$ $ $
349.9 CD CD
million CD CD
) ) )
for IN IN
the DT DT
fiscal JJ JJ
year NN NN
ended VBN VBN
Aug. NNP NNP
31 CD CD
. . .
<s>
Sales NNS NNS
surged VBD VBD
40 CD CD
% NN NN
to TO TO
250.17 CD CD
billion CD CD
yen NNS NNS
from IN IN
178.61 CD CD
billion CD CD
. . .
<s>
Net JJ JJ
income NN NN
rose VBD VBD
11 CD CD
% NN NN
to TO TO
29.62 CD CD
billion CD CD
yen NNS NNS
from IN IN
26.68 CD CD
billion CD CD
. . .
<s>
Pershare JJ JJ
net NN JJ
fell VBD VBD
to TO TO
423.3 CD CD
yen NNS NNS
from IN IN
457.7 CD CD
yen NNS NNS
because IN IN
of IN IN
expenses NNS NNS
and CC CC
capital NN NN
adjustments NNS NNS
. . .
<s>
Without IN IN
detailing VBG VBG
specific JJ JJ
product NN NN
breakdowns NNS NNS
, , ,
Nintendo NNP NNP
credited VBD VBD
its PRP$ PRP$
bullish JJ JJ
upsurge NN NN
in IN IN
sales NNS NNS
-- : :
including VBG VBG
advanced JJ VBN
computer NN NN
games NNS NNS
and CC CC
television NN NN
entertainment NN NN
systems NNS NNS
-- : :
to TO TO
surging VBG JJ
`` `` ``
leisure-oriented JJ JJ
'' '' ''
sales NNS NNS
in IN IN
foreign JJ JJ
markets NNS NNS
. . .
<s>
Export NNP NN
sales NNS NNS
for IN IN
leisure NN NN
items NNS NNS
alone RB RB
, , ,
for IN IN
instance NN NN
, , ,
totaled VBD VBD
184.74 CD CD
billion CD CD
yen NNS NNS
in IN IN
the DT DT
12 CD CD
months NNS NNS
, , ,
up RB RB
from IN IN
106.06 CD CD
billion CD CD
in IN IN
the DT DT
previous JJ JJ
fiscal JJ JJ
year NN NN
. . .
<s>
Domestic JJ JJ
leisure NN NN
sales NNS NNS
, , ,
however RB RB
, , ,
were VBD VBD
lower JJR JJR
. . .
<s>
Hertz NNP NNP
Corp. NNP NNP
of IN IN
Park NNP NNP
Ridge NNP NNP
, , ,
N.J. NNP NNP
, , ,
said VBD VBD
it PRP PRP
retained VBD VBD
Merrill NNP NNP
Lynch NNP NNP
Capital NNP NNP
Markets NNP NNP
to TO TO
sell VB VB
its PRP$ PRP$
Hertz NNP NNP
Equipment NNP NNP
Rental JJ NNP
Corp. NNP NNP
unit NN NN
. . .
<s>
`` `` ``
There EX EX
is VBZ VBZ
no DT DT
pressing VBG VBG
need NN NN
to TO TO
sell VB VB
the DT DT
unit NN NN
, , ,
but CC CC
we PRP PRP
are VBP VBP
doing VBG VBG
it PRP PRP
so IN IN
we PRP PRP
can MD MD
concentrate VB VB
on IN IN
our PRP$ PRP$
core NN NN
business NN NN
, , ,
renting VBG VBG
automobiles NNS NNS
in IN IN
the DT DT
U.S. NNP NNP
and CC CC
abroad RB RB
, , ,
'' '' ''
said VBD VBD
William NNP NNP
Slider NNP NNP
, , ,
Hertz NNP NNP
's POS POS
executive JJ JJ
vice NN NN
president NN NN
. . .
<s>
`` `` ``
We PRP PRP
are VBP VBP
only RB RB
going VBG VBG
to TO TO
sell VB VB
at IN IN
the DT DT
right JJ JJ
price NN NN
. . .
<s>
'' '' ''
Hertz NNP NNP
Equipment NNP NNP
had VBD VBD
operating NN NN
profit NN NN
before IN IN
depreciation NN NN
of IN IN
$ $ $
90 CD CD
million CD CD
on IN IN
revenue NN NN
of IN IN
$ $ $
150 CD CD
million CD CD
in IN IN
1988 CD CD
. . .
<s>
The DT DT
closely RB RB
held VBN VBN
Hertz NNP NNP
Corp. NNP NNP
had VBD VBD
annual JJ JJ
revenue NN NN
of IN IN
close RB JJ
to TO TO
$ $ $
2 CD CD
billion CD CD
in IN IN
1988 CD CD
, , ,
of IN IN
which WDT WDT
$ $ $
1.7 CD CD
billion CD CD
was VBD VBD
contributed VBN VBN
by IN IN
its PRP$ PRP$
Hertz NNP NNP
Rent NNP NNP
A NNP DT
Car NNP NNP
operations NNS NNS
world-wide JJ JJ
. . .
<s>
Hertz NNP NNP
Equipment NNP NNP
is VBZ VBZ
a DT DT
major JJ JJ
supplier NN NN
of IN IN
rental JJ JJ
equipment NN NN
in IN IN
the DT DT
U.S. NNP NNP
, , ,
France NNP NNP
, , ,
Spain NNP NNP
and CC CC
the DT DT
U.K NNP NNP
. . .
<s>
It PRP PRP
supplies VBZ VBZ
commercial JJ JJ
and CC CC
industrial JJ JJ
equipment NN NN
including VBG VBG
earth-moving JJ JJ
, , ,
aerial JJ JJ
, , ,
compaction : NN
and CC CC
electrical JJ JJ
equipment NN NN
, , ,
compressors NNS NNS
, , ,
cranes NNS NNS
, , ,
forklifts NNS NNS
and CC CC
trucks NNS NNS
. . .
<s>
Interspec NNP NNP
Inc. NNP NNP
reported VBD VBD
a DT DT
net JJ JJ
loss NN NN
of IN IN
$ $ $
2.4 CD CD
million CD CD
for IN IN
the DT DT
fiscal JJ JJ
third JJ JJ
quarter NN NN
ended VBN VBN
Aug. NNP NNP
31 CD CD
. . .
<s>
It PRP PRP
said VBD VBD
the DT DT
loss NN NN
resulted VBD VBD
from IN IN
startup NN NN
and CC CC
introduction NN NN
costs NNS NNS
related VBN VBN
to TO TO
a DT DT
new JJ JJ
medical JJ JJ
ultrasound NN NN
equipment NN NN
system NN NN
. . .
<s>
In IN IN
the DT DT
year-earlier JJ JJ
quarter NN NN
, , ,
the DT DT
company NN NN
reported VBD VBD
net JJ JJ
income NN NN
of IN IN
$ $ $
955,000 CD CD
, , ,
or CC CC
15 CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
The DT DT
manufacturer NN NN
of IN IN
ultrasound NN NN
diagnostic JJ JJ
systems NNS NNS
, , ,
based VBN VBN
in IN IN
Ambler NNP NNP
, , ,
Pa. NNP NNP
, , ,
reported VBD VBD
a DT DT
nine-month JJ JJ
net JJ JJ
loss NN NN
of IN IN
$ $ $
2.43 CD CD
million CD CD
compared VBN VBN
with IN IN
net JJ JJ
income NN NN
of IN IN
$ $ $
2.71 CD CD
million CD CD
, , ,
or CC CC
44 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
for IN IN
the DT DT
nine-month JJ JJ
period NN NN
a DT DT
year NN NN
earlier RBR RBR
. . .
<s>
In IN IN
over-the-counter JJ JJ
trading NN NN
, , ,
Interspec NNP NNP
fell VBD VBD
37.5 CD CD
cents NNS NNS
to TO TO
$ $ $
4.25 CD CD
. . .
<s>
Allegheny NNP NNP
Ludlum NNP NNP
Corp. NNP NNP
expects VBZ VBZ
to TO TO
report VB VB
third-quarter JJ JJ
net NN JJ
of IN IN
about IN RB
$ $ $
34 CD CD
million CD CD
, , ,
or CC CC
$ $ $
1.50 CD CD
a DT DT
share NN NN
, , ,
down RB RB
from IN IN
$ $ $
38.4 CD CD
million CD CD
, , ,
or CC CC
$ $ $
1.70 CD CD
a DT DT
share NN NN
, , ,
a DT DT
year NN NN
earlier RBR RB
, , ,
Richard NNP NNP
P. NNP NNP
Simmons NNP NNP
, , ,
chairman NN NN
and CC CC
chief JJ JJ
executive NN JJ
officer NN NN
, , ,
told VBD VBD
institutional JJ JJ
investors NNS NNS
in IN IN
New NNP NNP
York NNP NNP
. . .
<s>
Sales NNS NNS
for IN IN
the DT DT
Pittsburgh-based JJ JJ
producer NN NN
of IN IN
specialty NN NN
steels NNS NNS
and CC CC
other JJ JJ
materials NNS NNS
fell VBD VBD
to TO TO
about RB RB
$ $ $
265 CD CD
million CD CD
in IN IN
the DT DT
third JJ JJ
quarter NN NN
from IN IN
$ $ $
320.5 CD CD
million CD CD
a DT DT
year NN NN
earlier RBR RBR
, , ,
he PRP PRP
said VBD VBD
. . .
<s>
He PRP PRP
said VBD VBD
the DT DT
third-quarter JJ JJ
estimate NN NN
indicates VBZ VBZ
profit NN NN
for IN IN
the DT DT
nine CD CD
months NNS NNS
of IN IN
$ $ $
4.65 CD CD
a DT DT
share NN NN
, , ,
`` `` ``
almost RB RB
equal JJ JJ
to TO TO
the DT DT
full-year JJ JJ
1988 CD CD
earnings NNS NNS
'' '' ''
of IN IN
$ $ $
108.6 CD CD
million CD CD
, , ,
or CC CC
$ $ $
4.81 CD CD
a DT DT
share NN NN
. . .
<s>
In IN IN
the DT DT
first JJ JJ
nine CD CD
months NNS NNS
of IN IN
1988 CD CD
, , ,
net NN JJ
was VBD VBD
$ $ $
85 CD CD
million CD CD
, , ,
or CC CC
$ $ $
3.76 CD CD
a DT DT
share NN NN
. . .
<s>
Mr. NNP NNP
Simmons NNP NNP
said VBD VBD
the DT DT
third-quarter JJ JJ
results NNS NNS
reflect VBP VBP
continued VBN VBN
improvements NNS NNS
in IN IN
productivity NN NN
and CC CC
operating NN NN
margins NNS NNS
. . .
<s>
He PRP PRP
said VBD VBD
capital NN NN
spending NN NN
next JJ JJ
year NN NN
will MD MD
rise VB VB
to TO TO
about RB RB
$ $ $
45 CD CD
million CD CD
from IN IN
about IN RB
$ $ $
35 CD CD
million CD CD
this DT DT
year NN NN
. . .
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Banknote NNP NNP
Co. NNP NNP
said VBD VBD
it PRP PRP
again RB RB
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the DT DT
expiration NN NN
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of IN IN
its PRP$ PRP$
$ $ $
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for IN IN
International NNP NNP
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Nov. NNP VB
15 CD CD
. . .
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U.S. NNP NNP
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said VBD VBD
it PRP PRP
is VBZ VBZ
in IN IN
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to TO TO
sell VB VB
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it PRP PRP
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a DT DT
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on IN IN
the DT DT
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. . .
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U.S. NNP NNP
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it PRP PRP
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completed VBN VBN
, , ,
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would MD MD
satisfy VB VB
antitrust JJ JJ
issues NNS NNS
raised VBN VBN
by IN IN
the DT DT
U.S. NNP NNP
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about IN IN
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offer NN NN
to TO TO
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. . .
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of IN IN
the DT DT
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companies NNS NNS
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certificates NNS NNS
and CC CC
currency NN NN
. . .
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U.S. NNP NNP
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said VBD VBD
`` `` ``
there EX EX
can MD MD
be VB VB
no DT DT
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would MD MD
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concluded VBN VBN
. . .
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It PRP PRP
also RB RB
said VBD VBD
the DT DT
tender NN NN
offer NN NN
would MD MD
probably RB RB
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to TO TO
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extended VBN VBN
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to TO TO
complete VB VB
financing NN NN
arrangements NNS NNS
. . .
<s>
U.S. NNP NNP
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said VBD VBD
Citibank NNP NNP
extended VBD VBD
the DT DT
expiration NN NN
date NN NN
of IN IN
its PRP$ PRP$
commitment NN NN
for IN IN
senior JJ JJ
secured VBN VBN
financing NN NN
to TO TO
Nov. NNP NNP
15 CD CD
. . .
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offer NN NN
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made VBD VBD
June NNP NNP
1 CD CD
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extended VBN VBN
several JJ JJ
times NNS NNS
. . .
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Closely RB RB
held VBN VBN
U.S. NNP NNP
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offered VBD VBD
the DT DT
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a DT DT
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, , ,
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$ $ $
126 CD CD
million CD CD
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as RB RB
many JJ JJ
as IN IN
14.9 CD CD
million CD CD
shares NNS NNS
, , ,
or CC CC
78.6 CD CD
% NN NN
, , ,
of IN IN
International NNP NNP
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's POS POS
shares NNS NNS
outstanding JJ JJ
. . .
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U.S. NNP NNP
Banknote NNP NNP
said VBD VBD
that IN IN
as IN IN
of IN IN
Oct. NNP NNP
13 CD CD
, , ,
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million CD CD
shares NNS NNS
, , ,
or CC CC
about IN RB
84.3 CD CD
% NN NN
of IN IN
the DT DT
fully RB RB
diluted VBN VBN
shares NNS NNS
outstanding JJ JJ
, , ,
had VBD VBD
been VBN VBN
tendered VBN VBN
. . .
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Gitano NNP NNP
Group NNP NNP
Inc. NNP NNP
said VBD VBD
it PRP PRP
agreed VBD VBD
to TO TO
buy VB VB
50 CD CD
% NN NN
of IN IN
Regatta NNP NNP
Sport NNP NNP
Ltd. NNP NNP
, , ,
a DT DT
closely RB RB
held VBN VBN
apparel NN NN
maker NN NN
, , ,
with IN IN
the DT DT
assumption NN NN
of IN IN
$ $ $
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million CD CD
of IN IN
contingent JJ JJ
debt NN NN
. . .
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Under IN IN
the DT DT
terms NNS NNS
of IN IN
the DT DT
contract NN NN
, , ,
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York-based JJ JJ
Gitano NNP NNP
has VBZ VBZ
the DT DT
option NN NN
to TO TO
acquire VB VB
the DT DT
remaining VBG JJ
50 CD CD
% NN NN
of IN IN
Regatta NNP NNP
, , ,
a DT DT
maker NN NN
of IN IN
men NNS NNS
's POS POS
and CC CC
women NNS NNS
's POS POS
clothes NNS NNS
sold VBD VBN
primarily RB RB
in IN IN
department NN NN
stores NNS NNS
, , ,
under IN IN
certain JJ JJ
conditions NNS NNS
. . .
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That DT DT
50 CD CD
% NN NN
is VBZ VBZ
now RB RB
held VBN VBN
by IN IN
Clifford NNP NNP
Parker NNP NNP
, , ,
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's POS POS
president NN NN
and CC CC
chief JJ JJ
executive NN JJ
officer NN NN
, , ,
who WP WP
will MD MD
continue VB VB
to TO TO
manage VB VB
Regatta NNP NNP
's POS POS
operations NNS NNS
under IN IN
Gitano NNP NNP
. . .
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In IN IN
1989 CD CD
, , ,
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will MD MD
have VB VB
sales NNS NNS
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in IN IN
excess NN NN
of IN IN
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million CD CD
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and CC CC
will MD MD
show VB VB
a DT DT
profit NN NN
, , ,
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Parker NNP NNP
said VBD VBD
. . .
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, , ,
which WDT WDT
makes VBZ VBZ
budget-priced JJ JJ
apparel NN NN
sold VBD VBN
mainly RB RB
through IN IN
mass JJ NN
merchandisers NNS NNS
like IN IN
K NNP NNP
mart NNP NNP
and CC CC
Wal-Mart NNP NNP
, , ,
said VBD VBD
the DT DT
Regatta NNP NNP
acquisition NN NN
will MD MD
enhance VB VB
its PRP$ PRP$
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to TO TO
expand VB VB
into IN IN
department NN NN
stores NNS NNS
. . .
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This DT DT
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began VBD VBD
manufacturing VBG VBG
moderately RB RB
priced VBN VBN
clothes NNS NNS
aimed VBN VBN
at IN IN
department NN NN
stores NNS NNS
under IN IN
the DT DT
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Vanderbilt NNP NNP
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, , ,
which WDT WDT
Gitano NNP NNP
recently RB RB
acquired VBD VBD
. . .
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Enron NNP NNP
Corp. NNP NNP
, , ,
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, , ,
said VBD VBD
the DT DT
sale NN NN
of IN IN
preference NN NN
units NNS NNS
of IN IN
its PRP$ PRP$
newly RB RB
formed VBN VBN
Enron NNP NNP
NGL NNP NNP
Partners NNP NNP
L.P. NNP NNP
master NN NN
limited JJ VBN
partnership NN NN
subsidiary NN NN
will MD MD
result VB VB
in IN IN
an DT DT
undetermined JJ JJ
gain NN NN
in IN IN
the DT DT
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quarter NN NN
. . .
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In IN IN
the DT DT
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, , ,
the DT DT
natural JJ JJ
gas NN NN
concern NN NN
had VBD VBD
net JJ JJ
income NN NN
of IN IN
$ $ $
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million CD CD
, , ,
or CC CC
34 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
on IN IN
revenue NN NN
of IN IN
about IN RB
$ $ $
1.46 CD CD
billion CD CD
. . .
<s>
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results NNS NNS
included VBD VBD
a DT DT
$ $ $
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million CD CD
charge NN NN
related VBN VBN
to TO TO
the DT DT
retirement NN NN
of IN IN
debt NN NN
. . .
<s>
In IN IN
a DT DT
related JJ VBN
move NN NN
, , ,
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said VBD VBD
it PRP PRP
increased VBD VBD
the DT DT
number NN NN
of IN IN
the DT DT
partnership NN NN
's POS POS
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it PRP PRP
will MD MD
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to TO TO
6,930,000 CD CD
from IN IN
5,500,000 CD CD
. . .
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The DT DT
old JJ JJ
and CC CC
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numbers NNS NNS
both DT DT
include VBP VBP
over-allotment NN JJ
provisions NNS NNS
. . .
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said VBD VBD
each DT DT
unit NN NN
will MD MD
be VB VB
priced VBN VBN
in IN IN
the DT DT
$ $ $
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and CC CC
will MD MD
represent VB VB
about IN RB
80 CD CD
% NN NN
of IN IN
the DT DT
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equity NN NN
. . .
<s>
Net JJ JJ
proceeds NNS NNS
from IN IN
the DT DT
offering NN NN
are VBP VBP
expected VBN VBN
to TO TO
be VB VB
close RB JJ
to TO TO
$ $ $
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million CD CD
. . .
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& CC CC
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, , ,
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Drexel NNP NNP
Burnham NNP NNP
Lambert NNP NNP
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lead JJ JJ
underwriters NNS NNS
. . .
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Arthur NNP NNP
M. NNP NNP
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he PRP PRP
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of IN IN
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Giorgio NNP NNP
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to TO TO
Nov. NNP NNP
1 CD CD
. . .
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DIG NNP NNP
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's POS POS
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vehicle NN NN
, , ,
said VBD VBD
that IN IN
as IN IN
of IN IN
the DT DT
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of IN IN
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yesterday NN NN
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560,839 CD CD
shares NNS NNS
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. . .
<s>
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held VBD VBD
, , ,
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holds VBZ VBZ
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total NN NN
of IN IN
about IN RB
25 CD CD
% NN NN
of IN IN
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's POS POS
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on IN IN
a DT DT
fully RB RB
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. . .
<s>
The DT DT
offer NN NN
, , ,
which WDT WDT
also RB RB
includes VBZ VBZ
common JJ JJ
and CC CC
preferred JJ VBN
stock NN NN
purchase NN NN
rights NNS NNS
, , ,
was VBD VBD
to TO TO
expire VB VB
last JJ JJ
night NN NN
at IN IN
midnight NN NN
. . .
<s>
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expiration NN NN
date NN NN
is VBZ VBZ
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date NN NN
on IN IN
which WDT WDT
DIG NNP NNP
's POS POS
financing NN VBG
commitments NNS NNS
, , ,
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total VBP VBP
about IN RB
$ $ $
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, , ,
are VBP VBP
to TO TO
expire VB VB
. . .
<s>
DIG NNP NNP
is VBZ VBZ
a DT DT
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of IN IN
DIG NNP NNP
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, , ,
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unit NN NN
of IN IN
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. . .
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Goldberg NNP NNP
is VBZ VBZ
the DT DT
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in IN IN
Rose NNP NNP
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. . .
<s>
In IN IN
August NNP NNP
, , ,
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Giorgio NNP NNP
, , ,
a DT DT
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Francisco NNP NNP
food NN NN
products NNS NNS
and CC CC
building NN NN
materials NNS NNS
marketing VBG NN
and CC CC
distribution NN NN
company NN NN
, , ,
rejected VBD VBD
Mr. NNP NNP
Goldberg NNP NNP
's POS POS
offer NN NN
as IN IN
inadequate JJ JJ
. . .
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In IN IN
New NNP NNP
York NNP NNP
Stock NNP NNP
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composite JJ NN
trading NN NN
yesterday NN NN
, , ,
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Giorgio NNP NNP
closed VBD VBD
at IN IN
$ $ $
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, , ,
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$ $ $
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. . .
<s>
What WP WP
does VBZ VBZ
n't RB RB
belong VB VB
here RB RB
? . .
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A. NNP LS
manual : JJ
typewriters NNS NNS
, , ,
B. NNP LS
black-and-white JJ JJ
snapshots NNS NNS
, , ,
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radio NN NN
adventure NN NN
shows NNS NNS
. . .
<s>
If IN IN
you PRP PRP
guessed VBD VBD
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snapshots NNS NNS
, , ,
you PRP PRP
're VBP VBP
right JJ JJ
. . .
<s>
After IN IN
years NNS NNS
of IN IN
fading JJ NN
into IN IN
the DT DT
background NN NN
, , ,
two-tone JJ JJ
photography NN NN
is VBZ VBZ
coming VBG VBG
back RB RB
. . .
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Trendy NNP JJ
magazine NN NN
advertisements NNS NNS
feature VBP VBP
stark JJ JJ
black-and-white JJ JJ
photos NNS NNS
of IN IN
Hollywood NNP NNP
celebrities NNS NNS
pitching VBG VBG
jeans NNS NNS
, , ,
shoes NNS NNS
and CC CC
liquor NN NN
. . .
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Portrait : NN
studios NNS NNS
accustomed VBN VBN
to TO TO
shooting VBG VBG
only RB RB
in IN IN
color NN NN
report NN VBP
a DT DT
rush NN NN
to TO TO
black-and-white JJ JJ
portrait NN NN
orders NNS NNS
. . .
<s>
And CC CC
black-and-white JJ JJ
photography NN NN
classes NNS NNS
are VBP VBP
crowded VBN VBN
with IN IN
students NNS NNS
. . .
<s>
What WP WP
's VBZ VBZ
happening VBG VBG
in IN IN
photography NN NN
mirrors VBZ VBZ
the DT DT
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of IN IN
black JJ JJ
and CC CC
white JJ JJ
in IN IN
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, , ,
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furnishings NNS NNS
and CC CC
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. . .
<s>
On IN IN
Seventh NNP NNP
Avenue NNP NNP
, , ,
designers NNS NNS
have VBP VBP
been VBN VBN
advancing VBG VBG
the DT DT
monochrome NN JJ
look NN NN
with IN IN
clothing NN NN
collections NNS NNS
done VBN VBN
entirely RB RB
in IN IN
black JJ JJ
and CC CC
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. . .
<s>
And CC CC
classic JJ JJ
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movies NNS NNS
are VBP VBP
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a DT DT
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on IN IN
videocassette NN NN
tapes NNS NNS
, , ,
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, , ,
in IN IN
part NN NN
, , ,
by IN IN
the DT DT
backlash NN NN
against IN IN
colorization NN NN
of IN IN
old JJ JJ
films NNS NNS
. . .
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`` `` ``
The DT DT
pendulum NN NN
is VBZ VBZ
swinging VBG VBG
back RB RB
to TO TO
black JJ NN
and CC CC
white JJ NN
, , ,
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says VBZ VBZ
Richard NNP NNP
DeMoulin NNP NNP
, , ,
the DT DT
general JJ JJ
manager NN NN
of IN IN
Eastman NNP NNP
Kodak NNP NNP
Co. NNP NNP
's POS POS
professional JJ JJ
photography NN NN
division NN NN
. . .
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Until IN IN
two CD CD
years NNS NNS
ago RB RB
, , ,
sales NNS NNS
of IN IN
black-and-white JJ JJ
film NN NN
had VBD VBD
been VBN VBN
declining VBG VBG
steadily RB RB
since IN IN
the DT DT
1960s CD CD
. . .
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But CC CC
last JJ JJ
year NN NN
, , ,
buoyed VBN VBN
by IN IN
increased VBN VBN
use NN NN
in IN IN
advertising NN VBG
and CC CC
other JJ JJ
commercial JJ JJ
applications NNS NNS
, , ,
sales NNS NNS
increased VBD VBD
5 CD CD
% NN NN
, , ,
and CC CC
they PRP PRP
are VBP VBP
expected VBN VBN
to TO TO
jump VB VB
at IN IN
least JJS JJS
that RB DT
much RB RB
again RB RB
this DT DT
year NN NN
. . .
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companies NNS NNS
are VBP VBP
scrambling VBG VBG
to TO TO
tap VB VB
the DT DT
resurging VBG VBG
market NN NN
, , ,
reviving VBG VBG
some DT DT
black-and-white JJ JJ
product NN NN
lines NNS NNS
and CC CC
developing VBG VBG
new JJ JJ
ones NNS NNS
. . .
<s>
At IN IN
Kodak NNP NNP
, , ,
which WDT WDT
largely RB RB
ignored VBD VBD
the DT DT
market NN NN
for IN IN
years NNS NNS
, , ,
black-and-white JJ JJ
film NN NN
sales NNS NNS
now RB RB
account VBP VBP
for IN IN
nearly RB RB
15 CD CD
% NN NN
of IN IN
the DT DT
company NN NN
's POS POS
$ $ $
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billion CD CD
in IN IN
film NN NN
and CC CC
paper NN NN
sales NNS NNS
annually RB RB
, , ,
up RB IN
from IN IN
10 CD CD
% NN NN
three CD CD
years NNS NNS
ago RB RB
. . .
<s>
The DT DT
Rochester NNP NNP
, , ,
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, , ,
photographic JJ JJ
giant NN NN
recently RB RB
began VBD VBD
marketing VBG VBG
T-Max NNP NNP
3200 CD CD
, , ,
one CD CD
of IN IN
the DT DT
fastest JJS JJS
and CC CC
most RBS RBS
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monochrome NN JJ
films NNS NNS
. . .
<s>
Aimed VBN VBN
at IN IN
commercial JJ JJ
photographers NNS NNS
, , ,
the DT DT
film NN NN
can MD MD
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used VBN VBN
in IN IN
very RB RB
low JJ JJ
light NN NN
without IN IN
sacrificing VBG VBG
quality NN NN
, , ,
says VBZ VBZ
Donald NNP NNP
Franz NNP NNP
of IN IN
Photofinishing NNP NNP
Newsletter NNP NNP
. . .
<s>
Also RB RB
trying VBG VBG
to TO TO
snare VB VB
a DT DT
portion NN NN
of IN IN
the DT DT
$ $ $
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industry NN NN
is VBZ VBZ
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, , ,
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unit NN NN
of IN IN
Bayer NNP NNP
AG NNP NNP
. . .
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recently RB RB
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medalist NN NN
Florence NNP NNP
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to TO TO
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new JJ JJ
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of IN IN
black-and-white JJ JJ
paper NN NN
that WDT WDT
's VBZ VBZ
geared VBN VBN
to TO TO
consumers NNS NNS
and CC CC
will MD MD
compete VB VB
directly RB RB
with IN IN
Kodak NNP NNP
's POS POS
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. . .
<s>
Slated VBN VBN
for IN IN
market NN NN
by IN IN
the DT DT
end NN NN
of IN IN
the DT DT
year NN NN
, , ,
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`` `` ``
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introduced VBN VBN
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long JJ JJ
time NN NN
ago RB RB
but CC CC
the DT DT
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was VBD VBD
n't RB RB
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then RB RB
, , ,
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says VBZ VBZ
an DT DT
Agfa NNP NNP
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. . .
<s>
The DT DT
biggest JJS JJS
beneficiary NN NN
of IN IN
the DT DT
black-and-white JJ JJ
revival NN NN
is VBZ VBZ
likely JJ JJ
to TO TO
be VB VB
International NNP NNP
Paper NNP NNP
Co. NNP NNP
's POS POS
Ilford NNP NNP
division NN NN
, , ,
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in IN IN
the DT DT
industry NN NN
for IN IN
its PRP$ PRP$
premium NN NN
products NNS NNS
. . .
<s>
Sales NNS NNS
of IN IN
Ilford NNP NNP
's POS POS
four CD CD
varieties NNS NNS
of IN IN
black-and-white JJ JJ
film NN NN
this DT DT
year NN NN
are VBP VBP
outpacing VBG VBG
growth NN NN
in IN IN
the DT DT
overall JJ JJ
market NN NN
, , ,
although IN IN
the DT DT
company NN NN
wo MD MD
n't RB RB
say VB VB
by IN IN
exactly RB RB
how WRB WRB
much JJ JJ
. . .
<s>
`` `` ``
We PRP PRP
hope VBP VBP
the DT DT
trend NN NN
lasts VBZ VBZ
, , ,
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says VBZ VBZ
Laurie NNP NNP
DiCara NNP NNP
, , ,
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's POS POS
marketing NN NN
communications NNS NNS
director NN NN
. . .
<s>
Why WRB WRB
all PDT DT
the DT DT
interest NN NN
? . .
<s>
For IN IN
baby NN NN
boomers NNS NNS
who WP WP
grew VBD VBD
up RP RP
being VBG VBG
photographed VBN VBN
in IN IN
color NN NN
, , ,
black JJ NN
and CC CC
white JJ NN
seems VBZ VBZ
eye-catching JJ JJ
and CC CC
exotic JJ JJ
. . .
<s>
`` `` ``
It PRP PRP
has VBZ VBZ
an DT DT
archival : JJ
, , ,
almost RB RB
nostalgic JJ JJ
quality NN NN
to TO TO
it PRP PRP
, , ,
'' '' ''
says VBZ VBZ
Owen NNP NNP
B. NNP NNP
Butler NNP NNP
, , ,
the DT DT
chairman NN NN
of IN IN
the DT DT
applied VBN VBN
photography NN NN
department NN NN
at IN IN
Rochester NNP NNP
Institute NNP NNP
of IN IN
Technology NNP NNP
. . .
<s>
`` `` ``
You PRP PRP
can MD MD
shift VB VB
out IN IN
of IN IN
reality NN NN
with IN IN
black JJ NN
and CC CC
white JJ NN
, , ,
'' '' ''
he PRP PRP
adds VBZ VBZ
. . .
<s>
Such JJ JJ
features NNS NNS
have VBP VBP
been VBN VBN
especially RB RB
attractive JJ JJ
to TO TO
professional JJ JJ
photographers NNS NNS
and CC CC
marketing NN NN
executives NNS NNS
, , ,
who WP WP
have VBP VBP
been VBN VBN
steadily RB RB
increasing VBG VBG
their PRP$ PRP$
use NN NN
of IN IN
black JJ NN
and CC CC
white JJ NN
in IN IN
advertising NN NN
. . .
<s>
Processing NNP VBG
of IN IN
black-and-white JJ JJ
commercial JJ JJ
film NN NN
jumped VBD VBD
24 CD CD
% NN NN
last JJ JJ
year NN NN
to TO TO
18.7 CD CD
million CD CD
rolls NNS NNS
. . .
<s>
Consider VB VB
Gap NNP NNP
Inc. NNP NNP
, , ,
whose WP$ WP$
latest JJS JJS
ad NN NN
campaign NN NN
features VBZ VBZ
black-and-white JJ JJ
shots NNS NNS
of IN IN
Hollywood NNP NNP
stars NNS NNS
, , ,
artists NNS NNS
and CC CC
other JJ JJ
well-known JJ JJ
personalities NNS NNS
modeling VBG VBG
the DT DT
retailer NN NN
's POS POS
jeans NNS NNS
and CC CC
T-shirts NNS NNS
. . .
<s>
Richard NNP NNP
Crisman NNP NNP
, , ,
the DT DT
account NN NN
manager NN NN
for IN IN
the DT DT
campaign NN NN
, , ,
says VBZ VBZ
Gap NNP NNP
did VBD VBD
n't RB RB
intentionally RB RB
choose VB VB
black JJ JJ
and CC CC
white JJ JJ
to TO TO
distinguish VB VB
its PRP$ PRP$
ads NNS NNS
from IN IN
the DT DT
color NN NN
spreads NNS NNS
of IN IN
competitors NNS NNS
. . .
<s>
`` `` ``
We PRP PRP
wanted VBD VBD
to TO TO
highlight VB VB
the DT DT
individual NN NN
, , ,
not RB RB
the DT DT
environment NN NN
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
, , ,
`` `` ``
and CC CC
black JJ NN
and CC CC
white JJ NN
allows VBZ VBZ
you PRP PRP
to TO TO
do VB VB
that RB DT
better RBR RBR
than IN IN
color NN NN
. . .
<s>
'' '' ''
The DT DT
campaign NN NN
won VBD VBD
a DT DT
Cleo NNP NNP
award NN NN
as IN IN
this DT DT
year NN NN
's POS POS
best JJS JJS
ad NN NN
by IN IN
a DT DT
specialty NN NN
retailer NN NN
. . .
<s>
Even RB RB
food NN NN
products NNS NNS
and CC CC
automobiles NNS NNS
, , ,
which WDT WDT
have VBP VBP
long RB RB
depended VBN VBN
on IN IN
color NN NN
, , ,
are VBP VBP
making VBG VBG
the DT DT
switch NN NN
. . .
<s>
Companies NNS NNS
`` `` ``
feel VBP VBP
black JJ NN
and CC CC
white JJ NN
will MD MD
convey VB VB
a DT DT
stronger JJR JJR
statement NN NN
, , ,
'' '' ''
says VBZ VBZ
Marc NNP NNP
L. NNP NNP
Hauser NNP NNP
, , ,
a DT DT
Chicago NNP NNP
photographer NN NN
who WP WP
is VBZ VBZ
working VBG VBG
on IN IN
a DT DT
black-and-white JJ JJ
print NN NN
ad NN NN
for IN IN
Stouffer NNP NNP
Food NNP NNP
Corp. NNP NNP
's POS POS
Lean VB NNP
Cuisine NNP NNP
. . .
<s>
Other JJ JJ
companies NNS NNS
that WDT WDT
are VBP VBP
currently RB RB
using VBG VBG
two-tone JJ JJ
ads NNS NNS
include VBP VBP
American NNP NNP
Express NNP NNP
Co. NNP NNP
and CC CC
Epson NNP NNP
America NNP NNP
Inc NNP NNP
. . .
<s>
Portrait : NN
studios NNS NNS
have VBP VBP
also RB RB
latched VBN VBN
onto IN IN
the DT DT
trend NN NN
. . .
<s>
Using VBG VBG
black JJ NN
and CC CC
white JJ NN
, , ,
`` `` ``
we PRP PRP
can MD MD
make VB VB
housewives NNS NNS
look VB VB
like IN IN
stars NNS NNS
, , ,
'' '' ''
says VBZ VBZ
John NNP NNP
Perrin NNP NNP
. . .
<s>
His PRP$ PRP$
On-Broadway NNP NNP
Photography NNP NNP
studio NN NN
in IN IN
Portland NNP NNP
, , ,
Ore. NNP NNP
, , ,
doubled VBD VBD
its PRP$ PRP$
business NN NN
last JJ JJ
year NN NN
and CC CC
, , ,
he PRP PRP
says VBZ VBZ
, , ,
is VBZ VBZ
booked VBN VBN
solid JJ JJ
for IN IN
the DT DT
next JJ JJ
five CD CD
. . .
<s>
One CD CD
customer NN NN
, , ,
Dayna NNP NNP
Brunsdon NNP NNP
, , ,
says VBZ VBZ
she PRP PRP
spurned VBD VBD
a DT DT
color NN NN
portrait NN NN
for IN IN
black JJ JJ
and CC CC
white JJ JJ
because IN IN
`` `` ``
it PRP PRP
's VBZ VBZ
more RBR RBR
dramatic JJ JJ
. . .
<s>
I PRP PRP
show VBP VBP
it PRP PRP
to TO TO
my PRP$ PRP$
friends NNS NNS
, , ,
and CC CC
they PRP PRP
all DT DT
say VBP VBP
` `` ``
wow : UH
. . .
<s>
' '' ''
It PRP PRP
is VBZ VBZ
n't RB RB
ordinary JJ JJ
like IN IN
color NN NN
. . .
<s>
'' '' ''
Still RB RB
, , ,
most JJS JJS
consumers NNS NNS
are VBP VBP
n't RB RB
plunking VBG VBG
black-and-white JJ JJ
film NN NN
into IN IN
their PRP$ PRP$
cameras NNS NNS
to TO TO
take VB VB
family NN NN
snapshots NNS NNS
. . .
<s>
One CD CD
big JJ JJ
obstacle NN NN
is VBZ VBZ
that IN IN
few JJ JJ
drugstores NNS NNS
develop VBP VBP
the DT DT
film NN NN
anymore RB RB
. . .
<s>
Typically RB RB
, , ,
it PRP PRP
must MD MD
be VB VB
mailed VBN VBN
to TO TO
a DT DT
handful NN NN
of IN IN
processors NNS NNS
and CC CC
may MD MD
take VB VB
a DT DT
week NN NN
or CC CC
more JJR JJR
to TO TO
be VB VB
processed VBN VBN
and CC CC
returned VBN VBN
. . .
<s>
Black-and-white JJ JJ
film NN NN
costs NNS VBZ
consumers NNS NNS
a DT DT
little JJ RB
less JJR JJR
than IN IN
color NN NN
film NN NN
, , ,
and CC CC
processing NN NN
costs NNS VBZ
the DT DT
same JJ JJ
. . .
<s>
But CC CC
for IN IN
photofinishers NNS NNS
, , ,
developing VBG NN
costs NNS NNS
for IN IN
black-and-white JJ JJ
film NN NN
are VBP VBP
higher JJR JJR
. . .
<s>
Some DT DT
companies NNS NNS
are VBP VBP
starting VBG VBG
to TO TO
tackle VB VB
that DT DT
problem NN NN
. . .
<s>
Ilford NNP NNP
, , ,
for IN IN
example NN NN
, , ,
recently RB RB
introduced VBD VBD
a DT DT
black-and-white JJ JJ
film NN NN
that WDT WDT
can MD MD
be VB VB
processed VBN VBN
quickly RB RB
by IN IN
color NN NN
labs NNS NNS
. . .
<s>
Intent : NN
on IN IN
wooing VBG VBG
customers NNS NNS
, , ,
the DT DT
company NN NN
is VBZ VBZ
also RB RB
increasing VBG VBG
its PRP$ PRP$
sponsorship NN NN
of IN IN
black-and-white JJ JJ
photography NN NN
classes NNS NNS
. . .
<s>
Similarly RB RB
, , ,
Agfa NNP NNP
is VBZ VBZ
sponsoring VBG VBG
scores NNS NNS
of IN IN
photography : NN
contests NNS NNS
at IN IN
high JJ JJ
schools NNS NNS
and CC CC
colleges NNS NNS
, , ,
offering VBG VBG
free JJ JJ
black-and-white JJ JJ
film NN NN
and CC CC
paper NN NN
as IN IN
prizes NNS NNS
. . .
<s>
And CC CC
Kodak NNP NNP
is VBZ VBZ
distributing VBG VBG
an DT DT
instructional JJ JJ
video NN NN
to TO TO
processors NNS NNS
on IN IN
how WRB WRB
to TO TO
develop VB VB
its PRP$ PRP$
monochrome : JJ
film NN NN
more RBR RBR
efficiently RB RB
. . .
<s>
Other JJ JJ
companies NNS NNS
are VBP VBP
introducing VBG VBG
related JJ VBN
products NNS NNS
. . .
<s>
Charles NNP NNP
Beseler NNP NNP
Co. NNP NNP
, , ,
a DT DT
leading VBG VBG
maker NN NN
of IN IN
photographic JJ JJ
enlargers NNS NNS
, , ,
introduced VBN VBD
last JJ JJ
month NN NN
a DT DT
complete JJ JJ
darkroom NN NN
starter JJ NN
kit NN NN
targeted VBN VBN
at IN IN
teen-agers NNS NNS
who WP WP
want VBP VBP
to TO TO
process VB VB
their PRP$ PRP$
own JJ JJ
black-and-white JJ JJ
photographs NNS NNS
. . .
<s>
The DT DT
kit NN NN
, , ,
which WDT WDT
has VBZ VBZ
a DT DT
suggested VBN VBN
retail JJ JJ
price NN NN
of IN IN
$ $ $
250 CD CD
and CC CC
has VBZ VBZ
already RB RB
become VBN VBN
a DT DT
bestseller NN NN
, , ,
was VBD VBD
introduced VBN VBN
after IN IN
retailers NNS NNS
noticed VBD VBD
numerous JJ JJ
requests NNS NNS
from IN IN
parents NNS NNS
for IN IN
children NNS NNS
's POS POS
photography JJ NN
equipment NN NN
. . .
<s>
`` `` ``
It PRP PRP
seems VBZ VBZ
computers NNS NNS
as IN IN
hobbies NNS NNS
have VBP VBP
waned VBD VBN
, , ,
'' '' ''
says VBZ VBZ
Ian NNP NNP
Brightman NNP NNP
, , ,
Beseler NNP NNP
's POS POS
chairman NN NN
and CC CC
chief JJ JJ
executive NN JJ
officer NN NN
. . .
<s>
But CC CC
some DT DT
industry NN NN
observers NNS NNS
believe VBP VBP
the DT DT
resurgence NN NN
of IN IN
black JJ NN
and CC CC
white JJ NN
is VBZ VBZ
only RB RB
a DT DT
fad NN NN
. . .
<s>
They PRP PRP
cite VBP VBP
the DT DT
emergence NN NN
of IN IN
still RB JJ
electronic JJ JJ
photography NN NN
, , ,
more JJR JJR
newspapers NNS NNS
turning VBG VBG
to TO TO
color VB VB
on IN IN
their PRP$ PRP$
pages NNS NNS
and CC CC
measurable JJ JJ
improvements NNS NNS
in IN IN
the DT DT
quality NN NN
of IN IN
color NN NN
prints NNS NNS
. . .
<s>
`` `` ``
Black JJ NN
and CC CC
white JJ NN
has VBZ VBZ
n't RB RB
made VBN VBD
the DT DT
same JJ JJ
quantum JJ NN
leaps NNS NNS
in IN IN
technological JJ JJ
development NN NN
as IN IN
color NN NN
, , ,
'' '' ''
says VBZ VBZ
Mr. NNP NNP
Butler NNP NNP
of IN IN
the DT DT
Rochester NNP NNP
Institute NNP NNP
. . .
<s>
`` `` ``
The DT DT
color NN NN
print NN NN
today NN NN
is VBZ VBZ
far RB RB
superior JJ JJ
to TO TO
prints NNS NNS
of IN IN
10 CD CD
years NNS NNS
ago RB RB
. . .
<s>
You PRP PRP
ca MD MD
n't RB RB
say VB VB
the DT DT
same JJ JJ
with IN IN
black JJ JJ
and CC CC
white JJ JJ
. . .
<s>
'' '' ''
But CC CC
when WRB WRB
Popular NNP NNP
Photography NNP NNP
, , ,
a DT DT
leading VBG VBG
magazine NN NN
for IN IN
photographers NNS NNS
, , ,
selected VBD VBD
15 CD CD
of IN IN
the DT DT
greatest JJS JJS
photos NNS NNS
ever RB RB
made VBN VBN
for IN IN
its PRP$ PRP$
latest JJS JJS
issue NN NN
celebrating VBG VBG
photography : NN
's POS POS
150th JJ JJ
anniversary NN NN
, , ,
all DT DT
were VBD VBD
black JJ NN
and CC CC
white JJ NN
. . .
<s>
`` `` ``
It PRP PRP
's VBZ VBZ
got VBN VBD
a DT DT
classic JJ JJ
spirit NN NN
and CC CC
carries VBZ VBZ
over IN RP
emotionally RB RB
, , ,
'' '' ''
says VBZ VBZ
Alfred NNP NNP
DeBat NNP NNP
of IN IN
Professional NNP NNP
Photographers : NNP
of IN IN
America NNP NNP
. . .
<s>
`` `` ``
That DT DT
's VBZ VBZ
the DT DT
appeal NN NN
. . .
<s>
McClatchy NNP NNP
Newspapers NNP NNP
Inc. NNP NNP
said VBD VBD
improvements NNS NNS
in IN IN
advertising NN NN
and CC CC
subscription NN NN
revenue NN NN
led VBD VBD
to TO TO
a DT DT
21 CD CD
% NN NN
gain NN NN
in IN IN
third-quarter JJ JJ
profit NN NN
to TO TO
$ $ $
8.8 CD CD
million CD CD
, , ,
or CC CC
31 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
from IN IN
$ $ $
7.2 CD CD
million CD CD
, , ,
or CC CC
25 CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
Sales NNS NNS
rose VBD VBD
more JJR RBR
than IN IN
7 CD CD
% NN NN
to TO TO
$ $ $
94.9 CD CD
million CD CD
from IN IN
$ $ $
88.3 CD CD
million CD CD
. . .
<s>
The DT DT
Sacramento NNP NNP
, , ,
Calif. NNP NNP
, , ,
company NN NN
also RB RB
attributed VBD VBD
improved VBN VBN
performance NN NN
to TO TO
a DT DT
lower JJR JJR
effective JJ JJ
tax NN NN
rate NN NN
and CC CC
higher JJR JJR
interest NN NN
income NN NN
. . .
<s>
For IN IN
the DT DT
nine CD CD
months NNS NNS
, , ,
the DT DT
newspaper NN NN
chain NN NN
had VBD VBD
almost RB RB
a DT DT
23 CD CD
% NN NN
increase NN NN
in IN IN
profit NN NN
to TO TO
$ $ $
23.6 CD CD
million CD CD
, , ,
or CC CC
83 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
from IN IN
$ $ $
19.2 CD CD
million CD CD
, , ,
or CC CC
68 CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
Sales NNS NNS
grew VBD VBD
almost RB RB
7 CD CD
% NN NN
to TO TO
$ $ $
279.1 CD CD
million CD CD
from IN IN
$ $ $
261.3 CD CD
million CD CD
. . .
<s>
McClatchy NNP NNP
publishes VBZ VBZ
the DT DT
Sacramento NNP NNP
( ( (
Calif NNP NNP
. . .
<s>
) ) )
Bee NNP NNP
and CC CC
Tacoma NNP NNP
( ( (
Wash NNP NNP
. . .
<s>
) ) )
News NNP NNP
Tribune NNP NNP
, , ,
and CC CC
other JJ JJ
papers NNS NNS
in IN IN
Western JJ JJ
states NNS NNS
. . .
<s>
In IN IN
composite JJ JJ
trading NN NN
on IN IN
the DT DT
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
, , ,
the DT DT
company NN NN
closed VBD VBD
at IN IN
$ $ $
25.25 CD CD
a DT DT
share NN NN
, , ,
down RB RB
25 CD CD
cents NNS NNS
. . .
<s>
Agip NNP NNP
S.p NNP NNP
. . .
<s>
A. NNP NNP
and CC CC
Societe NNP NNP
National NNP NNP
Elf NNP NNP
Aquitaine NNP NNP
, , ,
the DT DT
state NN NN
oil NN NN
companies NNS NNS
of IN IN
Italy NNP NNP
and CC CC
France NNP NNP
, , ,
respectively RB RB
, , ,
submitted VBD VBD
an DT DT
offer NN NN
to TO TO
buy VB VB
Gatoil NNP NNP
Suisse NNP NNP
S.A NNP NNP
. . .
<s>
The DT DT
price NN NN
was VBD VBD
n't RB RB
disclosed VBN VBD
. . .
<s>
A DT DT
spokesman NN NN
for IN IN
Gatoil NNP NNP
said VBD VBD
that IN IN
the DT DT
Swiss JJ NNP
oil NN NN
concern NN NN
was VBD VBD
examining VBG VBG
the DT DT
offer NN NN
, , ,
submitted VBN VBD
last JJ JJ
Friday NNP NNP
, , ,
along IN IN
with IN IN
two CD CD
other JJ JJ
offers NNS NNS
, , ,
also RB RB
submitted VBN VBN
last JJ JJ
week NN NN
. . .
<s>
Those DT DT
two CD CD
offers NNS NNS
were VBD VBD
private JJ JJ
and CC CC
the DT DT
spokesman NN NN
refused VBD VBD
to TO TO
identify VB VB
the DT DT
bidding NN VBG
companies NNS NNS
. . .
<s>
The DT DT
spokesman NN NN
further RB RBR
said VBD VBD
that IN IN
at IN IN
least JJS JJS
two CD CD
more JJR JJR
offers NNS NNS
are VBP VBP
expected VBN VBN
from IN IN
other JJ JJ
companies NNS NNS
within IN IN
two CD CD
weeks NNS NNS
. . .
<s>
Gatoil NNP NNP
Suisse NNP NNP
owns VBZ VBZ
an DT DT
oil NN NN
refinery NN NN
in IN IN
Switzerland NNP NNP
with IN IN
a DT DT
capacity NN NN
of IN IN
70,000 CD CD
barrels NNS NNS
a DT DT
day NN NN
, , ,
along IN IN
with IN IN
a DT DT
network NN NN
of IN IN
gasoline NN NN
retailing NN VBG
outlets NNS NNS
. . .
<s>
While IN IN
Friday NNP NNP
's POS POS
plunging NN VBG
stock NN NN
market NN NN
prompted VBD VBD
new JJ JJ
fears NNS NNS
about IN IN
the DT DT
economy NN NN
's POS POS
prospects NNS NNS
, , ,
a DT DT
little-known JJ JJ
indicator NN NN
that WDT WDT
has VBZ VBZ
faithfully RB RB
foreshadowed VBN VBN
the DT DT
economy NN NN
's POS POS
ups NNS NNS
and CC CC
downs NNS NNS
by IN IN
exceptionally RB RB
long JJ JJ
lead NN NN
times NNS NNS
points NNS VBZ
to TO TO
a DT DT
sustained VBN JJ
rise NN NN
in IN IN
overall JJ JJ
business NN NN
activity NN NN
. . .
<s>
The DT DT
barometer NN NN
, , ,
developed VBN VBN
by IN IN
analysts NNS NNS
at IN IN
Columbia NNP NNP
University NNP NNP
's POS POS
Center NNP NNP
for IN IN
International NNP NNP
Business NNP NNP
Cycle NNP NNP
Research NNP NNP
here RB RB
, , ,
reached VBD VBD
a DT DT
record NN NN
high NN JJ
of IN IN
223.0 CD CD
in IN IN
August NNP NNP
, , ,
the DT DT
latest JJS JJS
month NN NN
available JJ JJ
, , ,
and CC CC
the DT DT
Columbia NNP NNP
researchers NNS NNS
estimate VBP VBP
that IN IN
it PRP PRP
has VBZ VBZ
moved VBN VBN
even RB RB
higher JJR RBR
since IN IN
then RB RB
. . .
<s>
The DT DT
latest JJS JJS
reading NN NN
of IN IN
223.0 CD CD
was VBD VBD
up RB RB
from IN IN
222.3 CD CD
in IN IN
July NNP NNP
and CC CC
215.3 CD CD
as RB RB
recently RB RB
as IN IN
March NNP NNP
. . .
<s>
The DT DT
August NNP NNP
rise NN NN
marked VBD VBD
the DT DT
fifth JJ JJ
straight JJ JJ
monthly JJ JJ
gain NN NN
for IN IN
the DT DT
indicator NN NN
, , ,
which WDT WDT
uses VBZ VBZ
the DT DT
1967 CD CD
average NN NN
as IN IN
a DT DT
base NN NN
of IN IN
100 CD CD
. . .
<s>
In IN IN
contrast NN NN
, , ,
the DT DT
Commerce NNP NNP
Department NNP NNP
's POS POS
widely RB RB
followed VBN VBN
index NN NN
of IN IN
leading VBG VBG
indicators NNS NNS
, , ,
while IN IN
up RP RB
in IN IN
August NNP NNP
, , ,
has VBZ VBZ
fallen VBN VBN
repeatedly RB RB
since IN IN
reaching VBG VBG
a DT DT
high JJ JJ
early RB RB
this DT DT
year NN NN
. . .
<s>
Its PRP$ PRP$
ragged JJ JJ
behavior NN NN
through IN IN
much JJ JJ
of IN IN
1989 CD CD
has VBZ VBZ
prompted VBN VBN
some DT DT
forecasters NNS NNS
to TO TO
anticipate VB VB
the DT DT
start NN NN
of IN IN
a DT DT
new JJ JJ
recession NN NN
perhaps RB RB
before IN IN
year NN NN
's POS POS
end NN NN
. . .
<s>
But CC CC
the DT DT
far RB RB
stronger JJR JJR
showing NN NN
of IN IN
the DT DT
Columbia NNP NNP
index NN NN
`` `` ``
makes VBZ VBZ
a DT DT
recession NN NN
any DT DT
time NN NN
soon RB RB
highly RB RB
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says VBZ VBZ
Geoffrey NNP NNP
H. NNP NNP
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, , ,
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of IN IN
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on IN IN
the DT DT
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of IN IN
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, , ,
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of IN IN
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that WDT WDT
decides VBZ VBZ
for IN IN
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when WRB WRB
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. . .
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normally RB RB
convenes VBZ VBZ
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when WRB WRB
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the DT DT
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seems VBZ VBZ
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. . .
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the DT DT
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reports VBZ VBZ
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largely RB RB
on IN IN
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in IN IN
their PRP$ PRP$
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through IN IN
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of IN IN
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and CC CC
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as RB RB
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2.6 CD CD
% NN NN
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in IN IN
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in IN IN
the DT DT
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after IN IN
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for IN IN
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. . .
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is VBZ VBZ
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's POS POS
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to TO TO
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the DT DT
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be VB VB
, , ,
by IN IN
substantially RB RB
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periods NNS NNS
than IN IN
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of IN IN
leading VBG VBG
indicators NNS NNS
. . .
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the DT DT
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on IN IN
the DT DT
average NN NN
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has VBZ VBZ
entered VBN VBN
sustained VBN VBN
declines NNS NNS
14 CD CD
months NNS NNS
before IN IN
the DT DT
onset NN NN
of IN IN
recessions NNS NNS
and CC CC
turned VBD VBD
up RP RP
eight CD CD
months NNS NNS
before IN IN
recoveries NNS NNS
. . .
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comparable JJ JJ
lead NN NN
times NNS NNS
for IN IN
the DT DT
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index NN NN
, , ,
whose WP$ WP$
components NNS NNS
include VBP VBP
the DT DT
stock NN NN
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are VBP VBP
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shorter JJR JJR
-- : :
10 CD CD
months NNS NNS
before IN IN
recessions NNS NNS
and CC CC
only RB RB
three CD CD
months NNS NNS
before IN IN
recoveries NNS NNS
. . .
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Columbia NNP NNP
economists NNS NNS
also RB RB
have VBP VBP
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how WRB WRB
the DT DT
long JJ JJ
leading VBG VBG
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would MD MD
have VB VB
behaved VBD VBN
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had VBD VBD
it PRP PRP
existed VBD VBD
, , ,
in IN IN
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, , ,
before IN IN
the DT DT
stock NN NN
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in IN IN
October NNP NNP
that WDT WDT
ushered VBD VBD
in IN RP
the DT DT
Great NNP NNP
Depression NNP NNP
. . .
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indicator NN NN
reached VBD VBD
a DT DT
peak NN NN
in IN IN
January NNP NNP
1929 CD CD
and CC CC
then RB RB
fell VBD VBD
steadily RB RB
up IN IN
to TO TO
and CC CC
through IN IN
the DT DT
crash NN NN
. . .
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It PRP PRP
was VBD VBD
an DT DT
entirely RB RB
different JJ JJ
pattern NN NN
from IN IN
what WP WP
we PRP PRP
're VBP VBP
seeing VBG VBG
now RB RB
, , ,
'' '' ''
Mr. NNP NNP
Moore NNP NNP
says VBZ VBZ
. . .
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A DT DT
major JJ JJ
source NN NN
of IN IN
the DT DT
recent JJ JJ
strength NN NN
in IN IN
the DT DT
long JJ JJ
leading VBG VBG
indicator NN NN
has VBZ VBZ
been VBN VBN
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performance NN NN
of IN IN
the DT DT
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corporate JJ JJ
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index NN NN
, , ,
which WDT WDT
is VBZ VBZ
not RB RB
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of IN IN
the DT DT
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. . .
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In IN IN
August NNP NNP
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the DT DT
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was VBD VBD
at IN IN
its PRP$ PRP$
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average NN NN
since IN IN
early JJ JJ
1987 CD CD
. . .
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It PRP PRP
also RB RB
rose VBD VBD
last JJ JJ
Friday NNP NNP
, , ,
while IN IN
the DT DT
stock NN NN
market NN NN
sagged VBD VBD
. . .
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Other JJ JJ
components NNS NNS
of IN IN
the DT DT
long JJ JJ
leading VBG VBG
indicator NN NN
include VBP VBP
a DT DT
ratio NN NN
of IN IN
prices NNS NNS
to TO TO
unit NN NN
labor NN NN
costs NNS NNS
in IN IN
manufacturing NN VBG
industries NNS NNS
, , ,
the DT DT
M2 : CD
version NN NN
of IN IN
the DT DT
money NN NN
supply NN NN
, , ,
adjusted VBN VBN
for IN IN
inflation NN NN
, , ,
and CC CC
the DT DT
volume NN NN
of IN IN
new JJ JJ
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permits NNS NNS
. . .
<s>
Notably RB RB
absent JJ JJ
from IN IN
the DT DT
Columbia NNP NNP
index NN NN
is VBZ VBZ
the DT DT
stock NN NN
market NN NN
, , ,
which WDT WDT
Mr. NNP NNP
Moore NNP NNP
says VBZ VBZ
`` `` ``
is VBZ VBZ
simply RB RB
no RB DT
longer RB RBR
such PDT JJ
a DT DT
good JJ JJ
indicator NN NN
of IN IN
the DT DT
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's POS POS
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prospects NNS NNS
, , ,
though IN IN
it PRP PRP
still RB RB
is VBZ VBZ
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for IN IN
anticipating VBG VBG
some DT DT
short-run JJ JJ
twists NNS NNS
and CC CC
turns NNS NNS
. . .
<s>
'' '' ''
As RB RB
recently RB RB
as IN IN
1975 CD CD
, , ,
the DT DT
stock NN NN
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-- : :
as IN IN
reflected VBN VBN
in IN IN
the DT DT
Standard NNP NNP
& CC CC
Poor NNP NNP
's POS POS
index NN NN
of IN IN
500 CD CD
common JJ JJ
stocks NNS NNS
-- : :
was VBD VBD
rated VBN VBN
by IN IN
the DT DT
National NNP NNP
Bureau NNP NNP
of IN IN
Economic NNP NNP
Research NNP NNP
as IN IN
the DT DT
best JJS JJS
of IN IN
the DT DT
12 CD CD
leading VBG VBG
indicators NNS NNS
that IN WDT
then RB RB
made VBD VBD
up RP RP
the DT DT
Commerce NNP NNP
index NN NN
. . .
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It PRP PRP
was VBD VBD
assigned VBN VBN
a DT DT
mark NN NN
of IN IN
80 CD CD
out IN IN
of IN IN
a DT DT
possible JJ JJ
100 CD CD
, , ,
compared VBN VBN
with IN IN
scores NNS NNS
ranging VBG VBG
as RB RB
low JJ JJ
as IN IN
69 CD CD
for IN IN
the DT DT
other JJ JJ
components NNS NNS
. . .
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The DT DT
stock NN NN
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has VBZ VBZ
lost VBN VBN
some DT DT
precursory JJ JJ
power NN NN
, , ,
analysts NNS NNS
at IN IN
the DT DT
Columbia NNP NNP
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because IN IN
of IN IN
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growing VBG VBG
impact NN NN
of IN IN
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developments NNS NNS
. . .
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`` `` ``
Stocks NNS NNS
have VBP VBP
become VBN VBN
more RBR RBR
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to TO TO
factors NNS NNS
not RB RB
directly RB RB
tied VBN VBN
to TO TO
the DT DT
domestic JJ JJ
economy NN NN
, , ,
'' '' ''
Mr. NNP NNP
Moore NNP NNP
says VBZ VBZ
, , ,
citing VBG VBG
the DT DT
exchange NN NN
rate NN NN
for IN IN
the DT DT
dollar NN NN
on IN IN
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markets NNS NNS
, , ,
the DT DT
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and CC CC
inflows NNS NNS
of IN IN
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capital NN NN
. . .
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He PRP PRP
also RB RB
feels VBZ VBZ
that IN IN
the DT DT
rise NN NN
of IN IN
such JJ JJ
computer-based JJ JJ
practices NNS NNS
as IN IN
program NN NN
trading NN NN
has VBZ VBZ
diminished VBN VBN
the DT DT
stock NN NN
market NN NN
's POS POS
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to TO TO
the DT DT
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outlook NN NN
. . .
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BSN NNP NNP
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, , ,
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leading VBG VBG
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, , ,
said VBD VBD
it PRP PRP
agreed VBD VBD
to TO TO
acquire VB VB
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. . .
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a DT DT
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. . .
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The DT DT
value NN NN
of IN IN
the DT DT
acquisition NN NN
was VBD VBD
n't RB RB
disclosed VBN VBD
. . .
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move NN NN
is VBZ VBZ
in IN IN
line NN NN
with IN IN
BSN NNP NNP
's POS POS
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of IN IN
gradually RB RB
building VBG VBG
its PRP$ PRP$
share NN NN
of IN IN
the DT DT
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through IN IN
external JJ JJ
growth NN NN
. . .
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BSN NNP NNP
will MD MD
initially RB RB
acquire VB VB
a DT DT
15 CD CD
% NN NN
interest NN NN
in IN IN
Birkel NNP NNP
, , ,
a DT DT
closely RB RB
held VBN VBN
concern NN NN
. . .
<s>
The DT DT
French JJ JJ
group NN NN
has VBZ VBZ
an DT DT
agreement NN NN
giving VBG VBG
it PRP PRP
the DT DT
right NN NN
to TO TO
buy VB VB
all PDT DT
the DT DT
shares NNS NNS
outstanding JJ JJ
, , ,
and CC CC
this DT DT
could MD MD
be VB VB
completed VBN VBN
within IN IN
a DT DT
few JJ JJ
months NNS NNS
, , ,
a DT DT
BSN NNP NNP
spokeswoman NN NN
said VBD VBD
. . .
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The DT DT
takeover NN NN
was VBD VBD
submitted VBN VBN
for IN IN
approval NN NN
by IN IN
the DT DT
West JJ JJ
German JJ JJ
cartel NN NN
office NN NN
, , ,
BSN NNP NNP
said VBD VBD
. . .
<s>
Birkel NNP NNP
is VBZ VBZ
West NNP NNP
Germany NNP NNP
's POS POS
second-biggest JJ JJ
producer NN NN
of IN IN
pasta NN NN
, , ,
with IN IN
sales NNS NNS
of IN IN
250 CD CD
million CD CD
marks NNS NNS
( ( (
$ $ $
133.4 CD CD
million CD CD
) ) )
in IN IN
1988 CD CD
. . .
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It PRP PRP
has VBZ VBZ
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workers NNS NNS
at IN IN
three CD CD
production NN NN
units NNS NNS
in IN IN
southwest JJS JJS
Germany NNP NNP
, , ,
and CC CC
is VBZ VBZ
that DT DT
nation NN NN
's POS POS
leading VBG VBG
producer NN NN
of IN IN
pasta NN NN
sauces NNS NNS
. . .
<s>
The DT DT
acquisition NN NN
strengthens VBZ VBZ
BSN NNP NNP
's POS POS
position NN NN
in IN IN
the DT DT
European JJ JJ
pasta NN NN
market NN NN
. . .
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The DT DT
French JJ JJ
group NN NN
currently RB RB
ranks VBZ VBZ
second JJ JJ
after IN IN
Barilla NNP NNP
Group NNP NNP
of IN IN
Italy NNP NNP
, , ,
whose WP$ WP$
sales NNS NNS
are VBP VBP
chiefly RB RB
in IN IN
the DT DT
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market NN NN
. . .
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Moody NNP NNP
's POS POS
Investors NNPS NNP
Service NNP NNP
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said VBD VBD
it PRP PRP
reduced VBD VBD
its PRP$ PRP$
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on IN IN
$ $ $
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of IN IN
senior JJ JJ
and CC CC
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of IN IN
this DT DT
thrift NN NN
holding VBG VBG
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, , ,
to TO TO
C NNP NNP
from IN IN
Ca JJ NNP
, , ,
saying VBG VBG
it PRP PRP
believes VBZ VBZ
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will MD MD
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only RB RB
`` `` ``
negligible JJ JJ
principal NN NN
. . .
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'' '' ''
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agency NN NN
said VBD VBD
it PRP PRP
confirmed VBD VBD
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's POS POS
preferred JJ VBN
stock NN NN
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at IN IN
C NNP NNP
. . .
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's POS POS
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& CC CC
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Association NNP NNP
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is VBZ VBZ
in IN IN
receivership NN NN
and CC CC
the DT DT
parent NN NN
company NN NN
has VBZ VBZ
filed VBN VBN
for IN IN
protection NN NN
from IN IN
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under IN IN
Chapter NN NNP
11 CD CD
of IN IN
the DT DT
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Bankruptcy NNP NNP
Code NNP NNP
. . .
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CENTRUST NNP NNP
SAVINGS NNP NNP
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) ) )
-- : :
Moody NNP NNP
's POS POS
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Inc. NNP NNP
downgraded VBD VBD
its PRP$ PRP$
ratings NNS NNS
on IN IN
the DT DT
subordinated JJ VBN
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of IN IN
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to TO TO
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from IN IN
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. . .
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The DT DT
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also RB RB
reduced VBD VBD
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for IN IN
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deposits NNS NNS
to TO TO
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from IN IN
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and CC CC
for IN IN
preferred JJ VBN
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to TO TO
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from IN IN
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. . .
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The DT DT
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said VBD VBD
about IN RB
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in IN IN
securities NNS NNS
was VBD VBD
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. . .
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The DT DT
downgrades NNS NNS
were VBD VBD
prompted VBN VBN
, , ,
Moody NNP NNP
's POS POS
said VBD VBD
, , ,
by IN IN
the DT DT
continuing VBG VBG
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in IN IN
the DT DT
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bond NN NN
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and CC CC
the DT DT
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of IN IN
dividends NNS NNS
on IN IN
CenTrust NNP NNP
's POS POS
preferred JJ VBN
stock NN NN
. . .
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Moody NNP NNP
's POS POS
also RB RB
said VBD VBD
it PRP PRP
believed VBD VBD
the DT DT
proposed JJ VBN
sale NN NN
of IN IN
63 CD CD
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branches NNS NNS
to TO TO
Great NNP JJ
Western NNP NNP
Bank NNP NNP
could MD MD
, , ,
if IN IN
completed VBN VBN
, , ,
endanger VB VB
the DT DT
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's POS POS
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and CC CC
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. . .
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THE DT DT
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AVOIDED VBD VBD
a DT DT
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of IN IN
Black NNP NNP
Monday NNP NNP
as IN IN
prices NNS NNS
recovered VBD VBD
from IN IN
an DT DT
early JJ JJ
slide NN NN
, , ,
spurred VBN VBN
by IN IN
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institutions NNS NNS
and CC CC
program NN NN
traders NNS NNS
. . .
<s>
The DT DT
Dow NNP NNP
Jones NNP NNP
industrials NNS NNS
closed VBD VBD
up RB RB
88.12 CD CD
points NNS NNS
, , ,
at IN IN
2657.38 CD CD
, , ,
the DT DT
fourth-biggest JJ JJ
gain NN NN
ever RB RB
, , ,
after IN IN
being VBG VBG
down RP RB
as RB RB
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as IN IN
63.52 CD CD
points NNS NNS
in IN IN
the DT DT
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. . .
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The DT DT
rally NN NN
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about IN RB
half NN NN
of IN IN
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's POS POS
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, , ,
but CC CC
analysts NNS NNS
are VBP VBP
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about IN IN
the DT DT
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's POS POS
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. . .
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The DT DT
dollar NN NN
also RB RB
rebounded VBD VBD
, , ,
while IN IN
bond NN NN
prices NNS NNS
plummeted VBD VBD
and CC CC
Treasury NNP NNP
bill NN NN
rates NNS NNS
soared VBD VBD
. . .
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Junk NN NN
bonds NNS NNS
also RB RB
recovered VBD VBD
somewhat RB RB
, , ,
though IN IN
trading NN NN
remained VBD VBD
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. . .
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Gold NN NNP
also RB RB
rose VBD VBD
. . .
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stock NN NN
prices NNS NNS
bounced VBD VBD
back RB RB
in IN IN
early JJ JJ
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Tuesday NNP NNP
following VBG VBG
a DT DT
1.8 CD CD
% NN NN
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on IN IN
Monday NNP NNP
. . .
<s>
The DT DT
dollar NN NN
also RB RB
moved VBD VBD
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in IN IN
Tokyo NNP NNP
. . .
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Donald NNP NNP
Trump NNP NNP
withdrew VBD VBD
his PRP$ PRP$
$ $ $
7.54 CD CD
billion CD CD
offer NN NN
for IN IN
American NNP NNP
Air NNP NNP
, , ,
citing VBG VBG
the DT DT
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recent JJ JJ
change NN NN
in IN IN
market NN NN
conditions NNS NNS
. . .
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'' '' ''
AMR NNP NNP
slid VBD VBD
$ $ $
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, , ,
to TO TO
$ $ $
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. . .
<s>
Also RB RB
, , ,
a DT DT
UAL NNP NNP
group NN NN
tried VBD VBD
to TO TO
get VB VB
financing NN NN
for IN IN
a DT DT
lower JJR JJR
bid NN NN
, , ,
possibly RB RB
$ $ $
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share NN NN
. . .
<s>
UAL NNP NNP
fell VBD VBD
$ $ $
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, , ,
to TO TO
$ $ $
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. . .
<s>
Leveraged JJ VBN
buy-outs NNS NNS
of IN IN
airlines NNS NNS
would MD MD
be VB VB
subject JJ JJ
to TO TO
approval NN NN
by IN IN
the DT DT
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secretary NN NN
under IN IN
a DT DT
bill NN NN
passed VBN VBN
by IN IN
a DT DT
House NNP NNP
subcommittee NN NN
. . .
<s>
IBM NNP NNP
's POS POS
earnings NNS NNS
tumbled VBD VBD
30 CD CD
% NN NN
in IN IN
the DT DT
third JJ JJ
quarter NN NN
, , ,
slightly RB RB
more JJR JJR
than IN IN
expected VBN VBN
. . .
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The DT DT
computer NN NN
giant NN NN
partly RB RB
cited VBD VBD
a DT DT
stronger JJR JJR
dollar NN NN
and CC CC
a DT DT
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in IN IN
shipping VBG VBG
a DT DT
new JJ JJ
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drive NN NN
. . .
<s>
Analysts NNS NNS
are VBP VBP
downbeat JJ JJ
about IN IN
IBM NNP NNP
's POS POS
outlook NN NN
for IN IN
the DT DT
next JJ JJ
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quarters NNS NNS
. . .
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U.S. NNP NNP
auto NN NN
makers NNS NNS
plan VBP VBP
to TO TO
decrease VB VB
car NN NN
production NN NN
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in IN IN
the DT DT
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, , ,
with IN IN
virtually RB RB
all PDT DT
the DT DT
decline NN NN
coming VBG VBG
from IN IN
the DT DT
Big NNP NNP
Three CD CD
. . .
<s>
Output NN NN
at IN IN
Japanese-owned JJ JJ
and CC CC
managed VBD VBN
plants NNS NNS
in IN IN
the DT DT
U.S. NNP NNP
is VBZ VBZ
due JJ JJ
to TO TO
rise VB VB
42 CD CD
% NN NN
. . .
<s>
Budget NN NN
director NN NN
Darman NNP NNP
said VBD VBD
he PRP PRP
wo MD MD
n't RB RB
give VB VB
federal JJ JJ
agencies NNS NNS
much JJ JJ
leeway NN NN
in IN IN
coping VBG VBG
with IN IN
Gramm-Rudman NNP NNP
spending NN NN
cuts NNS NNS
, , ,
which WDT WDT
took VBD VBD
effect NN NN
yesterday NN NN
. . .
<s>
Darman NNP NNP
hopes VBZ VBZ
to TO TO
prod VB VB
Congress NNP NNP
to TO TO
finish VB VB
a DT DT
deficit NN NN
plan NN NN
. . .
<s>
The DT DT
S&L NN NNP
bailout NN NN
agency NN NN
would MD MD
be VB VB
restricted VBN VBN
by IN IN
a DT DT
new JJ JJ
bill NN NN
in IN IN
how WRB WRB
it PRP PRP
raises VBZ VBZ
capital NN NN
. . .
<s>
The DT DT
Ways NNPS NNP
and CC CC
Means NNPS NNP
plan NN NN
would MD MD
create VB VB
another DT DT
possible JJ JJ
obstacle NN NN
to TO TO
selling VBG VBG
sick JJ JJ
thrifts NNS NNS
. . .
<s>
A DT DT
natural JJ JJ
gas NN NN
rule NN NN
was VBD VBD
struck VBN VBN
down RP RP
by IN IN
a DT DT
federal JJ JJ
appeals NNS NNS
court NN NN
. . .
<s>
The DT DT
regulation NN NN
had VBD VBD
prevented VBN VBN
pipeline NN NN
firms NNS NNS
from IN IN
passing VBG VBG
part NN NN
of IN IN
$ $ $
1 CD CD
billion CD CD
in IN IN
costs NNS NNS
along RB IN
to TO TO
customers NNS NNS
. . .
<s>
The DT DT
Supreme NNP NNP
Court NNP NNP
agreed VBD VBD
to TO TO
decide VB VB
whether IN IN
a DT DT
federal JJ JJ
court NN NN
may MD MD
dismantle VB VB
a DT DT
merger NN NN
that WDT WDT
has VBZ VBZ
won VBN VBN
regulatory JJ JJ
approval NN NN
but CC CC
been VBN VBN
ruled VBN VBN
anticompetitive JJ JJ
in IN IN
a DT DT
private JJ JJ
suit NN NN
. . .
<s>
Merrill NNP NNP
Lynch NNP NNP
's POS POS
profit NN NN
slid VBD VBD
37 CD CD
% NN NN
in IN IN
the DT DT
third JJ JJ
quarter NN NN
. . .
<s>
Bear NNP NNP
Stearns NNP NNP
posted VBD VBD
a DT DT
7.5 CD CD
% NN NN
gain NN NN
, , ,
while IN IN
PaineWebber NNP NNP
had VBD VBD
a DT DT
decline NN NN
due JJ JJ
to TO TO
a DT DT
year-ago JJ JJ
gain NN NN
. . .
<s>
Blue NNP NNP
Arrow NNP NNP
of IN IN
Britain NNP NNP
plans VBZ VBZ
to TO TO
return VB VB
to TO TO
the DT DT
name NN NN
Manpower NNP NNP
and CC CC
take VB VB
a DT DT
big JJ JJ
write-off NN NN
. . .
<s>
The DT DT
moves NNS NNS
may MD MD
help VB VB
the DT DT
firm NN NN
solidify VB VB
its PRP$ PRP$
dominance NN NN
of IN IN
the DT DT
U.S. NNP NNP
temporary-help JJ JJ
market NN NN
. . .
<s>
J.P. NNP NNP
Morgan NNP NNP
posted VBD VBD
a DT DT
$ $ $
1.82 CD CD
billion CD CD
loss NN NN
for IN IN
the DT DT
third JJ JJ
quarter NN NN
, , ,
reflecting VBG VBG
a DT DT
big JJ JJ
addition NN NN
to TO TO
loan-loss JJ JJ
reserves NNS NNS
. . .
<s>
NCNB NNP NNP
's POS POS
profit NN NN
more RBR RBR
than IN IN
doubled VBN VBD
. . .
<s>
K NNP NNP
mart NNP NNP
agreed VBD VBD
to TO TO
acquire VB VB
Pace NNP NNP
Membership NN NNP
Warehouse NNP NNP
for IN IN
$ $ $
322 CD CD
million CD CD
, , ,
expanding VBG VBG
its PRP$ PRP$
presence NN NN
in IN IN
the DT DT
growing VBG VBG
wholesale-store NN JJ
business NN NN
. . .
<s>
Markets NNS NNS
-- : :
Stocks NNS NNS
: : :
Volume NN NN
416,290,000 CD CD
shares NNS NNS
. . .
<s>
Dow NNP NNP
Jones NNP NNP
industrials NNS NNS
2657.38 CD CD
, , ,
up RB RB
88.12 CD CD
; : :
transportation NN NN
1304.23 CD CD
, , ,
off RB JJ
102.06 CD CD
; : :
utilities NNS NNS
214.73 CD CD
, , ,
up RB RB
2.77 CD CD
. . .
<s>
Bonds NNS NNS
: : :
Shearson NNP NNP
Lehman NNP NNP
Hutton NNP NNP
Treasury NNP NNP
index NN NN
3393.51 CD CD
, , ,
off RB JJ
Commodities NNS NNS
: : :
Dow NNP NNP
Jones NNP NNP
futures NNS NNS
index NN NN
129.72 CD CD
, , ,
off RB JJ
0.15 CD CD
; : :
spot NN NN
index NN NN
130.16 CD CD
, , ,
up RB RB
0.91 CD CD
. . .
<s>
Dollar NN NN
: : :
141.85 CD CD
yen NN NNS
, , ,
off RB IN
0.25 CD CD
; : :
1.8685 CD CD
marks NNS NNS
, , ,
off RB IN
0.0055 CD CD
. . .
<s>
Monday NNP NNP
, , ,
October NNP NNP
16 CD CD
, , ,
1989 CD CD
The DT DT
key JJ JJ
U.S. NNP NNP
and CC CC
foreign JJ JJ
annual JJ JJ
interest NN NN
rates NNS NNS
below RB RB
are VBP VBP
a DT DT
guide NN NN
to TO TO
general JJ JJ
levels NNS NNS
but CC CC
do VBP VBP
n't RB RB
always RB RB
represent VB VB
actual JJ JJ
transactions NNS NNS
. . .
<s>
PRIME JJ NNP
RATE NN NNP
: : :
10 CD CD
1\/2 CD CD
% NN NN
. . .
<s>
The DT DT
base NN NN
rate NN NN
on IN IN
corporate JJ JJ
loans NNS NNS
at IN IN
large JJ JJ
U.S. NNP NNP
money NN NN
center NN NN
commercial JJ JJ
banks NNS NNS
. . .
<s>
FEDERAL JJ NNP
FUNDS NNS NNP
: : :
8 CD CD
3\/4 CD CD
% NN NN
high JJ JJ
, , ,
8 CD CD
1\/2 CD CD
% NN NN
low JJ JJ
, , ,
8 CD CD
5\/8 CD CD
% NN NN
near IN IN
closing NN VBG
bid NN NN
, , ,
8 CD CD
3\/4 CD CD
% NN NN
offered VBN VBN
. . .
<s>
Reserves NNS NNS
traded VBN VBN
among IN IN
commercial JJ JJ
banks NNS NNS
for IN IN
overnight JJ JJ
use NN NN
in IN IN
amounts NNS NNS
of IN IN
$ $ $
1 CD CD
million CD CD
or CC CC
more JJR JJR
. . .
<s>
Source NN NN
: : :
Fulton NNP NNP
Prebon NNP NNP
( ( (
U.S.A NNP NNP
. . .
<s>
) ) )
Inc NNP NNP
. . .
<s>
DISCOUNT NN NNP
RATE NN NNP
: : :
7 CD CD
% NN NN
. . .
<s>
The DT DT
charge NN NN
on IN IN
loans NNS NNS
to TO TO
depository NN JJ
institutions NNS NNS
by IN IN
the DT DT
New NNP NNP
York NNP NNP
Federal NNP NNP
Reserve NNP NNP
Bank NNP NNP
. . .
<s>
CALL NN NN
MONEY NN NN
: : :
9 CD CD
3\/4 CD CD
% NN NN
to TO TO
10 CD CD
% NN NN
. . .
<s>
The DT DT
charge NN NN
on IN IN
loans NNS NNS
to TO TO
brokers NNS NNS
on IN IN
stock NN NN
exchange NN NN
collateral NN NN
. . .
<s>
COMMERCIAL JJ JJ
PAPER NN NN
placed VBN VBN
directly RB RB
by IN IN
General NNP NNP
Motors NNPS NNP
Acceptance NNP NNP
Corp. NNP NNP
: : :
8.30 CD CD
% NN NN
5 CD CD
to TO TO
44 CD CD
days NNS NNS
; : :
8.20 CD CD
% NN NN
45 CD CD
to TO TO
59 CD CD
days NNS NNS
; : :
8 CD CD
% NN NN
60 CD CD
to TO TO
89 CD CD
days NNS NNS
; : :
7.875 CD CD
% NN NN
90 CD CD
to TO TO
119 CD CD
days NNS NNS
; : :
7.75 CD CD
% NN NN
120 CD CD
to TO TO
149 CD CD
days NNS NNS
; : :
7.625 CD CD
% NN NN
150 CD CD
to TO TO
179 CD CD
days NNS NNS
; : :
7.375 CD CD
% NN NN
180 CD CD
to TO TO
270 CD CD
days NNS NNS
. . .
<s>
COMMERCIAL JJ JJ
PAPER NN NN
: : :
High-grade JJ JJ
unsecured JJ JJ
notes NNS NNS
sold VBN VBN
through IN IN
dealers NNS NNS
by IN IN
major JJ JJ
corporations NNS NNS
in IN IN
multiples NNS NNS
of IN IN
$ $ $
1,000 CD CD
: : :
8.40 CD CD
% NN NN
30 CD CD
days NNS NNS
; : :
8.33 CD CD
% NN NN
60 CD CD
days NNS NNS
; : :
8.26 CD CD
% NN NN
90 CD CD
days NNS NNS
. . .
<s>
CERTIFICATES NNS NNS
OF IN IN
DEPOSIT NN NN
: : :
8.05 CD CD
% NN NN
one CD CD
month NN NN
; : :
8.02 CD CD
% NN NN
two CD CD
months NNS NNS
; : :
8 CD CD
% NN NN
three CD CD
months NNS NNS
; : :
7.98 CD CD
% NN NN
six CD CD
months NNS NNS
; : :
7.95 CD CD
% NN NN
one CD CD
year NN NN
. . .
<s>
Average JJ NN
of IN IN
top JJ JJ
rates NNS NNS
paid VBN VBN
by IN IN
major JJ JJ
New NNP NNP
York NNP NNP
banks NNS NNS
on IN IN
primary JJ JJ
new JJ JJ
issues NNS NNS
of IN IN
negotiable JJ JJ
C.D.s NNS NNS
, , ,
usually RB RB
on IN IN
amounts NNS NNS
of IN IN
$ $ $
1 CD CD
million CD CD
and CC CC
more JJR JJR
. . .
<s>
The DT DT
minimum JJ NN
unit NN NN
is VBZ VBZ
$ $ $
100,000 CD CD
. . .
<s>
Typical JJ JJ
rates NNS NNS
in IN IN
the DT DT
secondary JJ JJ
market NN NN
: : :
8.40 CD CD
% NN NN
one CD CD
month NN NN
; : :
8.40 CD CD
% NN NN
three CD CD
months NNS NNS
; : :
8.40 CD CD
% NN NN
six CD CD
months NNS NNS
. . .
<s>
BANKERS NNS NNS
ACCEPTANCES NNS NNS
: : :
8.40 CD CD
% NN NN
30 CD CD
days NNS NNS
; : :
8.35 CD CD
% NN NN
60 CD CD
days NNS NNS
; : :
8.27 CD CD
% NN NN
90 CD CD
days NNS NNS
; : :
8.20 CD CD
% NN NN
120 CD CD
days NNS NNS
; : :
8.15 CD CD
% NN NN
150 CD CD
days NNS NNS
; : :
8.02 CD CD
% NN NN
180 CD CD
days NNS NNS
. . .
<s>
Negotiable JJ JJ
, , ,
bank-backed JJ JJ
business NN NN
credit NN NN
instruments NNS NNS
typically RB RB
financing VBG VBG
an DT DT
import NN NN
order NN NN
. . .
<s>
LONDON NNP NNP
LATE JJ JJ
EURODOLLARS NNS NNS
: : :
8 CD CD
5\/8 CD CD
% NN NN
to TO TO
8 CD CD
1\/2 CD CD
% NN NN
one CD CD
month NN NN
; : :
8 CD CD
5\/8 CD CD
% NN NN
to TO TO
8 CD CD
1\/2 CD CD
% NN NN
two CD CD
months NNS NNS
; : :
8 CD CD
9\/16 CD CD
% NN NN
to TO TO
8 CD CD
7\/16 CD CD
% NN NN
three CD CD
months NNS NNS
; : :
8 CD CD
1\/2 CD CD
% NN NN
to TO TO
8 CD CD
3\/8 CD CD
% NN NN
four CD CD
months NNS NNS
; : :
8 CD CD
1\/2 CD CD
% NN NN
to TO TO
8 CD CD
3\/8 CD CD
% NN NN
five CD CD
months NNS NNS
; : :
8 CD CD
1\/2 CD CD
% NN NN
to TO TO
8 CD CD
3\/8 CD CD
% NN NN
six CD CD
months NNS NNS
. . .
<s>
LONDON NNP NNP
INTERBANK NNP NNP
OFFERED NNP VBN
RATES NNPS NNS
( ( (
LIBOR NNP NNP
) ) )
: : :
8 CD CD
1\/2 CD CD
% NN NN
one CD CD
month NN NN
; : :
8 CD CD
1\/2 CD CD
% NN NN
three CD CD
months NNS NNS
; : :
8 CD CD
7\/16 CD CD
% NN NN
six CD CD
months NNS NNS
; : :
8 CD CD
3\/8 CD CD
% NN NN
one CD CD
year NN NN
. . .
<s>
The DT DT
average NN NN
of IN IN
interbank NN NN
offered VBN VBN
rates NNS NNS
for IN IN
dollar NN NN
deposits NNS NNS
in IN IN
the DT DT
London NNP NNP
market NN NN
based VBN VBN
on IN IN
quotations NNS NNS
at IN IN
five CD CD
major JJ JJ
banks NNS NNS
. . .
<s>
FOREIGN JJ NNP
PRIME JJ NNP
RATES NNS NNP
: : :
Canada NNP NNP
13.50 CD CD
% NN NN
; : :
Germany NNP NNP
8.50 CD CD
% NN NN
; : :
Japan NNP NNP
4.875 CD CD
% NN NN
; : :
Switzerland NNP NNP
8.50 CD CD
% NN NN
; : :
Britain NNP NNP
15 CD CD
% NN NN
. . .
<s>
These DT DT
rate NN NN
indications NNS NNS
are VBP VBP
n't RB RB
directly RB RB
comparable JJ JJ
; : :
lending NN NN
practices NNS NNS
vary VBP VBP
widely RB RB
by IN IN
location NN NN
. . .
<s>
TREASURY NNP NNP
BILLS NNS NNS
: : :
Results NNS NNS
of IN IN
the DT DT
Monday NNP NNP
, , ,
October NNP NNP
16 CD CD
, , ,
1989 CD CD
, , ,
auction NN NN
of IN IN
short-term JJ JJ
U.S. NNP NNP
government NN NN
bills NNS NNS
, , ,
sold VBN VBN
at IN IN
a DT DT
discount NN NN
from IN IN
face NN NN
value NN NN
in IN IN
units NNS NNS
of IN IN
$ $ $
10,000 CD CD
to TO TO
$ $ $
1 CD CD
million CD CD
: : :
7.37 CD CD
% NN NN
, , ,
13 CD CD
weeks NNS NNS
; : :
7.42 CD CD
% NN NN
, , ,
26 CD CD
weeks NNS NNS
. . .
<s>
FEDERAL NNP NNP
HOME NNP NNP
LOAN NNP NNP
MORTGAGE NNP NNP
CORP NNP NNP
. . .
<s>
( ( (
Freddie NNP NNP
Mac NNP NNP
) ) )
: : :
Posted VBN VBN
yields NNS NNS
on IN IN
30-year JJ CD
mortgage NN NN
commitments NNS NNS
for IN IN
delivery NN NN
within IN IN
30 CD CD
days. NN NNS
9.83 CD CD
% NN NN
, , ,
standard JJ JJ
conventional JJ JJ
fixedrate JJ JJ
mortgages NNS NNS
; : :
7.875 CD CD
% NN NN
, , ,
2 CD CD
% NN NN
rate NN NN
capped VBD VBD
one-year JJ JJ
adjustable JJ JJ
rate NN NN
mortgages NNS NNS
. . .
<s>
Source NN NN
: : :
Telerate NNP NNP
Systems NNPS NNP
Inc NNP NNP
. . .
<s>
FEDERAL NNP NNP
NATIONAL NNP NNP
MORTGAGE NNP NNP
ASSOCIATION NNP NNP
( ( (
Fannie NNP NNP
Mae NNP NNP
) ) )
: : :
Posted VBN VBN
yields NNS NNS
on IN IN
30 CD CD
year NN NN
mortgage NN NN
commitments NNS NNS
for IN IN
delivery NN NN
within IN IN
30 CD CD
days NNS NNS
( ( (
priced VBN VBN
at IN IN
par NN NN
) ) )
.9.82 : CD
% NN NN
, , ,
standard JJ JJ
conventional JJ JJ
fixed VBN VBN
rate-mortgages NNS NN
; : :
8.70 CD CD
% NN NN
, , ,
6\/2 CD CD
rate NN NN
capped VBD VBN
one-year JJ JJ
adjustable JJ JJ
rate NN NN
mortgages NNS NNS
. . .
<s>
Source NN NN
: : :
Telerate NNP NNP
Systems NNPS NNP
Inc NNP NNP
. . .
<s>
MERRILL NNP NNP
LYNCH NNP NNP
READY NNP NNP
ASSETS NNPS NNP
TRUST NNP NNP
: : :
8.49 CD CD
% NN NN
. . .
<s>
Annualized VBN VBN
average JJ JJ
rate NN NN
of IN IN
return NN NN
after IN IN
expenses NNS NNS
for IN IN
the DT DT
past JJ JJ
30 CD CD
days NNS NNS
; : :
not RB RB
a DT DT
forecast NN NN
of IN IN
future JJ JJ
returns NNS NNS
. . .
<s>
Intel NNP NNP
Corp. NNP NNP
said VBD VBD
it PRP PRP
reached VBD VBD
an DT DT
agreement NN NN
with IN IN
Alliant NNP NNP
Computer NNP NNP
Systems NNPS NNP
Corp. NNP NNP
to TO TO
develop VB VB
software NN NN
standards NNS NNS
for IN IN
Intel NNP NNP
's POS POS
i860 : NN
microprocessor NN NN
. . .
<s>
The DT DT
i860 NN NN
, , ,
introduced VBN VBN
earlier RBR RBR
this DT DT
year NN NN
, , ,
is VBZ VBZ
Intel NNP NNP
's POS POS
entry NN NN
in IN IN
the DT DT
crowded JJ VBN
market NN NN
for IN IN
reduced JJ VBN
instruction NN NN
set VBN NN
computing NN VBG
, , ,
or CC CC
RISC NNP NNP
, , ,
computers NNS NNS
. . .
<s>
Intel NNP NNP
, , ,
based VBN VBN
in IN IN
Santa NNP NNP
Clara NNP NNP
, , ,
Calif. NNP NNP
, , ,
is VBZ VBZ
the DT DT
market NN NN
leader NN NN
for IN IN
traditional JJ JJ
microprocessors NNS NNS
with IN IN
its PRP$ PRP$
8086 CD CD
family NN NN
that WDT WDT
forms VBZ VBZ
the DT DT
heart NN NN
of IN IN
IBM-compatible JJ JJ
personal JJ JJ
computers NNS NNS
. . .
<s>
Under IN IN
the DT DT
agreement NN NN
, , ,
Intel NNP NNP
will MD MD
invest VB VB
$ $ $
3 CD CD
million CD CD
to TO TO
acquire VB VB
a DT DT
4 CD CD
% NN NN
stake NN NN
in IN IN
Alliant NNP NNP
, , ,
a DT DT
maker NN NN
of IN IN
minisupercomputers NNS NNS
for IN IN
scientists NNS NNS
and CC CC
engineers NNS NNS
. . .
<s>
Alliant NNP NNP
, , ,
based VBN VBN
in IN IN
Littleton NNP NNP
, , ,
Mass. NNP NNP
, , ,
will MD MD
license VB VB
its PRP$ PRP$
parallel-computing JJ JJ
technologies NNS NNS
to TO TO
Intel NNP NNP
, , ,
providing VBG VBG
users NNS NNS
a DT DT
way NN NN
to TO TO
let VB VB
many JJ JJ
i860 : NN
microprocessors NNS NNS
in IN IN
a DT DT
single JJ JJ
computer NN NN
work NN VB
on IN IN
a DT DT
problem NN NN
simultaneously RB RB
. . .
<s>
Alliant NNP NNP
said VBD VBD
it PRP PRP
plans VBZ VBZ
to TO TO
use VB VB
the DT DT
microprocessor NN NN
in IN IN
future JJ JJ
products NNS NNS
. . .
<s>
It PRP PRP
declined VBD VBD
to TO TO
discuss VB VB
its PRP$ PRP$
plans NNS NNS
for IN IN
upgrading VBG VBG
its PRP$ PRP$
current JJ JJ
product NN NN
line NN NN
. . .
<s>
Omnicare NNP NNP
Inc. NNP NNP
, , ,
which WDT WDT
intends VBZ VBZ
to TO TO
expand VB VB
its PRP$ PRP$
position NN NN
in IN IN
the DT DT
medical JJ JJ
and CC CC
dental JJ JJ
markets NNS NNS
, , ,
said VBD VBD
it PRP PRP
acquired VBD VBD
a DT DT
cotton NN NN
and CC CC
gauze NN NN
products NNS NNS
division NN NN
from IN IN
closely RB RB
held VBN VBN
Sterile NNP NNP
Products NNP NNP
Corp. NNP NNP
for IN IN
$ $ $
8.2 CD CD
million CD CD
. . .
<s>
Omnicare NNP NNP
said VBD VBD
it PRP PRP
expects VBZ VBZ
the DT DT
division NN NN
to TO TO
add VB VB
`` `` ``
substantial JJ JJ
sales NNS NNS
volume NN NN
and CC CC
to TO TO
make VB VB
a DT DT
positive JJ JJ
contribution NN NN
to TO TO
our PRP$ PRP$
earnings NNS NNS
in IN IN
1990 CD CD
and CC CC
beyond IN IN
. . .
<s>
'' '' ''
In IN IN
1988 CD CD
the DT DT
Cincinnati NNP NNP
company NN NN
earned VBD VBD
$ $ $
3.1 CD CD
million CD CD
, , ,
or CC CC
32 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
on IN IN
revenue NN NN
of IN IN
$ $ $
148.5 CD CD
million CD CD
. . .
<s>
Omnicare NNP NNP
said VBD VBD
the DT DT
division NN NN
operates VBZ VBZ
under IN IN
the DT DT
trade NN NN
name NN NN
ACCO NNP NNP
and CC CC
supplies VBZ VBZ
the DT DT
medical JJ JJ
and CC CC
dental JJ JJ
markets NNS NNS
. . .
<s>
The DT DT
business NN NN
, , ,
based VBN VBN
in IN IN
St. NNP NNP
Louis NNP NNP
, , ,
had VBD VBD
sales NNS NNS
of IN IN
more JJR JJR
than IN IN
$ $ $
14 CD CD
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with IN IN
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of IN IN
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of IN IN
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fell VBD VBD
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as IN IN
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of IN IN
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needs VBZ VBZ
the DT DT
sugar NN NN
, , ,
so IN IN
it PRP PRP
will MD MD
be VB VB
in IN RB
sooner RBR RBR
or CC CC
later RBR RBR
to TO TO
buy VB VB
it PRP PRP
. . .
<s>
'' '' ''
FARM : NN
PRODUCTS NNP NNS
: : :
The DT DT
prices NNS NNS
of IN IN
cattle NNS NNS
and CC CC
hog NNS NN
futures NNS NNS
contracts NNS NNS
dropped VBD VBD
sharply RB RB
because IN IN
traders NNS NNS
speculated VBD VBD
that IN IN
the DT DT
stock NN NN
market NN NN
plunge NN NN
Friday NNP NNP
will MD MD
linger VB VB
in IN IN
the DT DT
minds NNS NNS
of IN IN
U.S. NNP NNP
consumers NNS NNS
long RB RB
enough RB RB
to TO TO
prompt VB VB
them PRP PRP
to TO TO
rein VB VB
in RP IN
their PRP$ PRP$
spending NN NN
at IN IN
the DT DT
supermarket NN NN
, , ,
which WDT WDT
would MD MD
hurt VB VB
demand NN NN
for IN IN
beef NN NN
and CC CC
pork NN NN
. . .
<s>
The DT DT
price NN NN
of IN IN
the DT DT
hog NNS NN
contract NN NN
for IN IN
October NNP NNP
delivery NN NN
dropped VBD VBD
its PRP$ PRP$
maximum JJ NN
permissible JJ JJ
daily JJ JJ
limit NN NN
of IN IN
1.5 CD CD
cents NNS NNS
a DT DT
pound NN NN
. . .
<s>
The DT DT
prices NNS NNS
of IN IN
most JJS JJS
grain NN NN
futures NNS NNS
contracts NNS NNS
rose VBD VBD
slightly RB RB
yesterday NN NN
out IN IN
of IN IN
relief NN NN
that IN IN
the DT DT
stock NN NN
market NN NN
was VBD VBD
showing VBG VBG
signs NNS NNS
of IN IN
recovering VBG VBG
. . .
<s>
Earlier RBR RBR
in IN IN
the DT DT
session NN NN
, , ,
the DT DT
prices NNS NNS
of IN IN
several JJ JJ
soybean NN NN
contracts NNS NNS
set VBD VBD
new JJ JJ
lows NNS NNS
. . .
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A DT DT
broad JJ JJ
rally NN NN
began VBD VBD
when WRB WRB
several JJ JJ
major JJ JJ
processors NNS NNS
began VBD VBD
buying VBG VBG
futures NNS NNS
contracts NNS NNS
, , ,
apparently RB RB
to TO TO
take VB VB
advantage NN NN
of IN IN
the DT DT
price NN NN
dip NN NN
. . .
<s>
Knight-Ridder NNP NNP
Inc. NNP NNP
said VBD VBD
it PRP PRP
would MD MD
report VB VB
increased VBN VBN
earnings NNS NNS
per IN IN
share NN NN
for IN IN
the DT DT
third JJ JJ
quarter NN NN
, , ,
contrary JJ JJ
to TO TO
reported VBD VBN
analysts NNS NNS
' POS POS
comments NNS NNS
that IN IN
the DT DT
publishing NN VBG
company NN NN
's POS POS
earnings NNS NNS
would MD MD
be VB VB
down RP RB
. . .
<s>
A DT DT
company NN NN
spokesman NN NN
said VBD VBD
he PRP PRP
believed VBD VBD
the DT DT
confusion NN NN
was VBD VBD
caused VBN VBN
when WRB WRB
James NNP NNP
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and CC CC
chief JJ JJ
executive NN NN
, , ,
told VBD VBD
New NNP NNP
York NNP NNP
analysts NNS NNS
two CD CD
weeks NNS NNS
ago RB RB
that IN IN
Knight-Ridder NNP NNP
's POS POS
earnings NNS NNS
per IN IN
share NN NN
for IN IN
the DT DT
first JJ JJ
nine CD CD
months NNS NNS
of IN IN
1989 CD CD
would MD MD
`` `` ``
be VB VB
behind IN IN
a DT DT
little JJ JJ
bit NN NN
'' '' ''
from IN IN
like IN JJ
period NN NN
of IN IN
The DT DT
Knight-Ridder NNP NNP
spokesman NN NN
said VBD VBD
the DT DT
third-quarter JJ JJ
earnings NNS NNS
that IN IN
the DT DT
company NN NN
plans VBZ VBZ
to TO TO
report VB VB
Oct. NNP NNP
24 CD CD
are VBP VBP
expected VBN VBN
to TO TO
be VB VB
up RP RB
. . .
<s>
The DT DT
spokesman NN NN
said VBD VBD
he PRP PRP
was VBD VBD
`` `` ``
comfortable JJ JJ
'' '' ''
with IN IN
revised VBD VBN
analysts NNS NNS
' POS POS
projections NNS NNS
that IN IN
the DT DT
company NN NN
would MD MD
report VB VB
earnings NNS NNS
of IN IN
between IN IN
62 CD CD
cents NNS NNS
and CC CC
64 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
compared VBN VBN
with IN IN
the DT DT
53 CD CD
cents NNS NNS
a DT DT
share NN NN
it PRP PRP
reported VBD VBD
for IN IN
the DT DT
1988 CD CD
third JJ JJ
quarter NN NN
. . .
<s>
Knight-Ridder NNP NNP
said VBD VBD
it PRP PRP
agreed VBD VBD
with IN IN
estimates NNS NNS
that IN IN
net JJ JJ
income NN NN
for IN IN
all DT DT
of IN IN
1989 CD CD
would MD MD
be VB VB
around IN RB
$ $ $
2.86 CD CD
a DT DT
share NN NN
, , ,
compared VBN VBN
with IN IN
$ $ $
2.59 CD CD
a DT DT
share NN NN
a DT DT
year NN NN
earlier RBR RBR
. . .
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In IN IN
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
composite JJ JJ
trading NN NN
yesterday NN NN
, , ,
Knight-Ridder NNP NNP
closed VBD VBD
at IN IN
$ $ $
51.75 CD CD
, , ,
down RB RB
37.5 CD CD
cents NNS NNS
. . .
<s>
DD NNP NNP
Acquisition NNP NNP
Corp. NNP NNP
said VBD VBD
it PRP PRP
extended VBD VBD
its PRP$ PRP$
$ $ $
45-a-share JJ JJ
offer NN NN
for IN IN
Dunkin NNP NNP
' '' ''
Donuts NNP NNP
Inc. NNP NNP
to TO TO
Nov. NNP NNP
1 CD CD
from IN IN
yesterday NN NN
. . .
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The DT DT
offer NN NN
has VBZ VBZ
an DT DT
indicated VBN VBN
value NN NN
of IN IN
$ $ $
268 CD CD
million CD CD
. . .
<s>
DD NNP NNP
Acquisition NNP NNP
is VBZ VBZ
a DT DT
partnership NN NN
of IN IN
Unicorp NNP NNP
Canada NNP NNP
Corp. NNP NNP
's POS POS
Kingsbridge NNP NNP
Capital NNP NNP
Group NNP NNP
unit NN NN
and CC CC
Cara NNP NNP
Operations NNP NNP
Ltd NNP NNP
. . .
<s>
As IN IN
previously RB RB
reported VBN VBN
, , ,
under IN IN
the DT DT
terms NNS NNS
of IN IN
a DT DT
confidentiality NN NN
agreement NN NN
with IN IN
Dunkin NNP NNP
' '' ''
Donuts NNP NNP
, , ,
the DT DT
partners NNS NNS
agreed VBD VBD
to TO TO
keep VB VB
their PRP$ PRP$
offer NN NN
open NN JJ
until IN IN
Nov. NNP NNP
1 CD CD
, , ,
and CC CC
not RB RB
to TO TO
acquire VB VB
any DT DT
additional JJ JJ
shares NNS NNS
except IN IN
through IN IN
a DT DT
tender NN NN
offer NN NN
expiring VBG VBG
on IN IN
that DT DT
date NN NN
. . .
<s>
DD NNP NNP
Acquisition NNP NNP
said VBD VBD
that IN IN
it PRP PRP
already RB RB
owns VBZ VBZ
15 CD CD
% NN NN
of IN IN
the DT DT
common JJ JJ
shares NNS NNS
of IN IN
the DT DT
doughnut NN NN
shop NN NN
chain NN NN
and CC CC
that IN IN
as IN RB
of IN IN
the DT DT
close NN NN
of IN IN
business NN NN
Friday NNP NNP
an DT DT
additional JJ JJ
11 CD CD
% NN NN
had VBD VBD
been VBN VBN
tendered VBN VBN
to TO TO
its PRP$ PRP$
offer NN NN
. . .
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' '' ''
Donuts NNP NNP
is VBZ VBZ
based VBN VBN
in IN IN
Randolph NNP NNP
, , ,
Mass NNP NNP
. . .
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Cara NNP NNP
Operations NNP NNP
, , ,
a DT DT
food NN NN
services NNS NNS
concern NN NN
, , ,
and CC CC
Unicorp NNP NNP
, , ,
a DT DT
holding VBG VBG
company NN NN
with IN IN
interests NNS NNS
in IN IN
oil NN NN
and CC CC
natural JJ JJ
gas NN NN
and CC CC
financial JJ JJ
services NNS NNS
, , ,
are VBP VBP
based VBN VBN
in IN IN
Toronto NNP NNP
. . .
<s>
Golden NNP NNP
West NNP NNP
Financial NNP NNP
Corp. NNP NNP
, , ,
riding VBG VBG
above IN IN
the DT DT
turbulence NN NN
that WDT WDT
has VBZ VBZ
troubled VBN VBN
most JJS JJS
of IN IN
the DT DT
thrift NN NN
industry NN NN
, , ,
posted VBD VBD
a DT DT
16 CD CD
% NN NN
increase NN NN
of IN IN
third-quarter JJ JJ
earnings NNS NNS
to TO TO
$ $ $
41.8 CD CD
millon NN NN
, , ,
or CC CC
66 CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
The DT DT
company NN NN
earned VBD VBD
$ $ $
36 CD CD
million CD CD
, , ,
or CC CC
57 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
in IN IN
the DT DT
year-ago JJ JJ
quarter NN NN
. . .
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Herbert NNP NNP
M. NNP NNP
Sandler NNP NNP
, , ,
chairman NN NN
and CC CC
chief JJ JJ
executive JJ JJ
officer NN NN
of IN IN
the DT DT
Oakland NNP NNP
, , ,
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, , ,
savings-and-loan JJ JJ
holding VBG VBG
company NN NN
, , ,
credited VBD VBD
the DT DT
high JJ JJ
number NN NN
of IN IN
loans NNS NNS
added VBN VBN
to TO TO
the DT DT
company NN NN
's POS POS
portfolio NN NN
over IN IN
the DT DT
last JJ JJ
12 CD CD
months NNS NNS
for IN IN
broadening VBG VBG
its PRP$ PRP$
earning VBG NN
asset NN NN
base NN NN
and CC CC
improving VBG VBG
profit NN NN
performance NN NN
. . .
<s>
However RB RB
, , ,
the DT DT
executive NN NN
noted VBD VBD
that IN IN
slackening VBG VBG
demand NN NN
for IN IN
new JJ JJ
mortgages NNS NNS
depressed VBD VBD
new JJ JJ
loan NN NN
originations NNS NNS
to TO TO
$ $ $
1 CD CD
billion CD CD
, , ,
30 CD CD
% NN NN
below IN IN
the DT DT
same JJ JJ
period NN NN
last JJ JJ
year NN NN
. . .
<s>
In IN IN
savings NNS NN
activity NN NN
, , ,
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Sandler NNP NNP
said VBD VBD
consumer NN NN
deposits NNS NNS
have VBP VBP
enjoyed VBN VBN
a DT DT
steady JJ JJ
increase NN NN
throughout IN IN
1989 CD CD
, , ,
and CC CC
topped VBD VBD
$ $ $
11 CD CD
billion CD CD
at IN IN
quarter NN NN
's POS POS
end NN NN
for IN IN
the DT DT
first JJ JJ
time NN NN
in IN IN
the DT DT
company NN NN
's POS POS
history NN NN
. . .
<s>
Deposit NNP NN
growth NN NN
amounted VBD VBD
to TO TO
$ $ $
393 CD CD
million CD CD
, , ,
more JJR RBR
than IN IN
double RB RB
the DT DT
year-ago JJ JJ
figure NN NN
. . .
<s>
Whirlpool NNP NNP
Corp. NNP NNP
, , ,
Benton NNP NNP
Harbor NNP NNP
, , ,
Mich. NNP NNP
, , ,
said VBD VBD
it PRP PRP
has VBZ VBZ
developed VBN VBN
a DT DT
process NN NN
to TO TO
recover VB VB
environmentally RB RB
harmful JJ JJ
chlorofluorocarbons NNS NNS
, , ,
or CC CC
CFCs NNP NNS
, , ,
that WDT WDT
previously RB RB
entered VBD VBD
the DT DT
atmosphere NN NN
during IN IN
in-home JJ JJ
repair NN NN
of IN IN
refrigerators NNS NNS
and CC CC
freezers NNS NNS
. . .
<s>
The DT DT
maker NN NN
of IN IN
home NN NN
appliances NNS NNS
said VBD VBD
the DT DT
process NN NN
, , ,
which WDT WDT
involves VBZ VBZ
the DT DT
use NN NN
of IN IN
a DT DT
multilayer JJ JJ
plastic NN NN
bag NN NN
during IN IN
repairs NNS NNS
to TO TO
capture VB VB
the DT DT
gaseous JJ JJ
substance NN NN
and CC CC
transport NN NN
it PRP PRP
to TO TO
a DT DT
recycling NN VBG
center NN NN
, , ,
is VBZ VBZ
already RB RB
in IN IN
use NN NN
at IN IN
a DT DT
number NN NN
of IN IN
its PRP$ PRP$
service NN NN
centers NNS NNS
, , ,
and CC CC
will MD MD
be VB VB
available JJ JJ
to TO TO
all DT DT
authorized VBN VBN
repair NN NN
centers NNS NNS
by IN IN
spring NN NN
. . .
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Earlier JJR JJR
repairs NNS NNS
vented VBD VBD
the DT DT
CFCs NNPS NNS
out IN IN
of IN IN
the DT DT
home NN NN
through IN IN
a DT DT
hose NN NN
directly RB RB
into IN IN
the DT DT
atmosphere NN NN
. . .
<s>
CFCs NNS NNS
are VBP VBP
widely RB RB
used VBN VBN
as IN IN
solvents NNS NNS
, , ,
coolants NNS NNS
and CC CC
fire NN NN
suppressants NNS NNS
. . .
<s>
But CC CC
their PRP$ PRP$
use NN NN
has VBZ VBZ
been VBN VBN
linked VBN VBN
to TO TO
a DT DT
potentially RB RB
dangerous JJ JJ
depletion NN NN
of IN IN
the DT DT
Earth NNP NNP
's POS POS
ozone NN NN
layer NN NN
, , ,
and CC CC
a DT DT
number NN NN
of IN IN
companies NNS NNS
are VBP VBP
seeking VBG VBG
to TO TO
curtail VB VB
use NN NN
, , ,
or CC CC
at IN IN
least JJS JJS
emission NN NN
, , ,
of IN IN
the DT DT
substance NN NN
. . .
<s>
Whirpool NNP NNP
said VBD VBD
, , ,
`` `` ``
We PRP PRP
see VBP VBP
this DT DT
process NN NN
as IN IN
a DT DT
small JJ JJ
but CC CC
important JJ JJ
step NN NN
toward IN IN
eventual JJ JJ
elimination NN NN
of IN IN
CFC NNP NNP
use NN NN
in IN IN
appliance NN NN
manufacture NN NN
. . .
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Maxus NNP NNP
Energy NNP NNP
Corp. NNP NNP
, , ,
Dallas NNP NNP
, , ,
said VBD VBD
it PRP PRP
discovered VBD VBD
a DT DT
new JJ JJ
oil NN NN
field NN NN
northeast NN NN
of IN IN
its PRP$ PRP$
previously RB RB
discovered VBN VBN
Intan NNP NNP
Field NNP NNP
in IN IN
the DT DT
southeast NN JJ
Sumatra NNP NNP
area NN NN
of IN IN
Indonesia NNP NNP
. . .
<s>
Maxus NNP NNP
said VBD VBD
it PRP PRP
did VBD VBD
n't RB RB
run VB VB
a DT DT
production NN NN
test NN NN
on IN IN
the DT DT
three CD CD
discovery NN NN
wells NNS NNS
it PRP PRP
drilled VBN VBD
in IN IN
the DT DT
field NN NN
, , ,
which WDT WDT
is VBZ VBZ
about IN RB
1.6 CD CD
miles NNS NNS
from IN IN
the DT DT
Intan NNP NNP
Field NNP NNP
, , ,
because IN IN
the DT DT
wells NNS NNS
are VBP VBP
similar JJ JJ
to TO TO
others NNS NNS
drilled VBN VBN
at IN IN
its PRP$ PRP$
Intan NNP NNP
and CC CC
Widuri NNP NNP
fields NNS NNS
. . .
<s>
However RB RB
, , ,
Maxus NNP NNP
said VBD VBD
it PRP PRP
believes VBZ VBZ
the DT DT
reserves NNS NNS
in IN IN
the DT DT
field NN NN
are VBP VBP
about IN RB
10 CD CD
million CD CD
barrels NNS NNS
of IN IN
oil NN NN
. . .
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The DT DT
Intan NNP NNP
Field NNP NNP
has VBZ VBZ
estimated VBN VBN
reserves NNS NNS
of IN IN
50 CD CD
million CD CD
barrels NNS NNS
and CC CC
the DT DT
Widuri NNP NNP
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has VBZ VBZ
estimated VBN VBN
reserves NNS NNS
of IN IN
225 CD CD
million CD CD
barrels NNS NNS
. . .
<s>
Maxus NNP NNP
, , ,
an DT DT
independent JJ JJ
oil NN NN
and CC CC
gas NN NN
concern NN NN
, , ,
is VBZ VBZ
the DT DT
operator NN NN
and CC CC
owns VBZ VBZ
a DT DT
56 CD CD
% NN NN
interest NN NN
in IN IN
the DT DT
new JJ JJ
field NN NN
, , ,
called VBN VBD
Northeast NNP NNP
Intan NNP NNP
. . .
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Other JJ JJ
interests NNS NNS
are VBP VBP
owned VBN VBN
by IN IN
BP NNP NNP
Petroleum NNP NNP
Development NNP NNP
( ( (
SES NNP NNP
) ) )
Ltd. NNP NNP
, , ,
C. NNP NNP
Itoh NNP NNP
Energy NNP NNP
Co. NNP NNP
Ltd. NNP NNP
, , ,
Deminex NNP NNP
Sumatra NNP NNP
OEL NNP NNP
G.m.b NNP NNP
. . .
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H. NNP NNP
, , ,
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( ( (
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) ) )
Production NNP NNP
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, , ,
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Oil NNP NNP
( ( (
Indonesia NNP NNP
) ) )
Ltd. NNP NNP
, , ,
Inpex NNP NNP
Sumatra NNP NNP
Co. NNP NNP
Ltd. NNP NNP
, , ,
Lasmo NNP NNP
Sumatra NNP NNP
Ltd. NNP NNP
, , ,
Sunda NNP NNP
Shell NNP NNP
, , ,
TCR NNP NNP
Sumat NNP NNP
A.G. NNP NNP
and CC CC
Warrior NNP NNP
Oil NNP NNP
Co NNP NNP
. . .
<s>
The DT DT
production-sharing JJ JJ
contract NN NN
area NN NN
is VBZ VBZ
held VBN VBN
with IN IN
Pertamina NNP NNP
, , ,
the DT DT
Indonesian JJ JJ
state NN NN
oil NN NN
company NN NN
. . .
<s>
Environmental NNP NNP
Systems NNPS NNP
Co. NNP NNP
said VBD VBD
it PRP PRP
is VBZ VBZ
restating VBG VBG
its PRP$ PRP$
results NNS NNS
to TO TO
reduce VB VB
its PRP$ PRP$
reported VBD VBN
net JJ JJ
income NN NN
for IN IN
the DT DT
first JJ JJ
nine CD CD
months NNS NNS
of IN IN
its PRP$ PRP$
fiscal JJ JJ
year NN NN
after IN IN
discovering VBG VBG
it PRP PRP
took VBD VBD
tax NN NN
credits NNS NNS
that WDT WDT
already RB RB
had VBD VBD
been VBN VBN
taken VBN VBN
last JJ JJ
year NN NN
. . .
<s>
The DT DT
Little NNP NNP
Rock NNP NNP
, , ,
Ark. NNP NNP
, , ,
hazardous-waste JJ JJ
services NNS NNS
company NN NN
said VBD VBD
the DT DT
restatement NN NN
will MD MD
reduce VB VB
its PRP$ PRP$
net NN JJ
for IN IN
the DT DT
nine CD CD
months NNS NNS
ended VBN VBN
July NNP NNP
31 CD CD
to TO TO
$ $ $
2.5 CD CD
million CD CD
, , ,
or CC CC
17 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
from IN IN
$ $ $
3.7 CD CD
million CD CD
, , ,
or CC CC
26 CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
Net NN JJ
for IN IN
the DT DT
third JJ JJ
quarter NN NN
, , ,
restated VBN VBN
, , ,
is VBZ VBZ
$ $ $
1.6 CD CD
million CD CD
, , ,
or CC CC
10 CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
The DT DT
company NN NN
previously RB RB
reported VBD VBN
net NN JJ
of IN IN
$ $ $
2.3 CD CD
million CD CD
, , ,
or CC CC
15 CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
The DT DT
company NN NN
said VBD VBD
that IN IN
for IN IN
financial JJ JJ
reporting NN NN
purposes NNS NNS
last JJ JJ
year NN NN
it PRP PRP
took VBD VBD
tax NN NN
credits NNS NNS
that WDT WDT
will MD MD
be VB VB
recognized VBN VBN
for IN IN
tax NN NN
purposes NNS NNS
this DT DT
year NN NN
. . .
<s>
But CC CC
because IN IN
of IN IN
confusion NN NN
, , ,
it PRP PRP
took VBD VBD
those DT DT
credits NNS NNS
again RB RB
in IN IN
reporting VBG VBG
its PRP$ PRP$
results NNS NNS
through IN IN
the DT DT
first JJ JJ
nine CD CD
months NNS NNS
. . .
<s>
Jack NNP NNP
W. NNP NNP
Forrest NNP NNP
, , ,
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Systems NNPS NNP
president NN NN
and CC CC
chief JJ JJ
executive NN JJ
officer NN NN
, , ,
said VBD VBD
the DT DT
change NN NN
increases VBZ VBZ
the DT DT
company NN NN
's POS POS
effective JJ JJ
tax NN NN
rate NN NN
to TO TO
about IN RB
35 CD CD
% NN NN
from IN IN
20 CD CD
% NN NN
. . .
<s>
Memotec NNP NNP
Data NNP NNP
Inc. NNP NNP
said VBD VBD
it PRP PRP
signed VBD VBD
a DT DT
definitive JJ JJ
merger NN NN
agreement NN NN
with IN IN
ISI NNP NNP
Systems NNPS NNP
Inc. NNP NNP
under IN IN
which WDT WDT
Memotec : NNP
will MD MD
acquire VB VB
ISI NNP NNP
for IN IN
$ $ $
20 CD CD
( ( (
U.S. NNP NNP
. . .
<s>
) ) )
a DT DT
share NN NN
, , ,
or CC CC
about RB RB
$ $ $
130 CD CD
million CD CD
, , ,
in IN IN
cash NN NN
and CC CC
securities NNS NNS
. . .
<s>
In IN IN
American NNP NNP
Stock NNP NNP
Exchange NNP NNP
composite JJ JJ
trading NN NN
, , ,
ISI NNP NNP
closed VBD VBD
up RB RB
$ $ $
3.125 CD CD
at IN IN
$ $ $
18.625 CD CD
. . .
<s>
In IN IN
Montreal NNP NNP
Exchange NNP NNP
trading NN NN
, , ,
Memotec NNP NNP
closed VBD VBD
unchanged JJ JJ
at IN IN
10.625 CD CD
Canadian JJ JJ
dollars NNS NNS
( ( (
US$ $ $
9.05 CD CD
) ) )
. . .
<s>
Memotec : NNP
said VBD VBD
under IN IN
the DT DT
agreement NN NN
, , ,
ISI NNP NNP
, , ,
a DT DT
Braintree NNP NNP
, , ,
Mass. NNP NNP
, , ,
provider NN NN
of IN IN
computer NN NN
software NN NN
and CC CC
services NNS NNS
to TO TO
the DT DT
insurance NN NN
industry NN NN
, , ,
will MD MD
merge VB VB
with IN IN
a DT DT
U.S. NNP NNP
unit NN NN
of IN IN
Memotec NN NNP
created VBN VBN
for IN IN
that DT DT
purpose NN NN
. . .
<s>
Memotec : NNP
is VBZ VBZ
a DT DT
Montreal-based JJ JJ
maker NN NN
of IN IN
telecommunications NNS NNS
products NNS NNS
and CC CC
provider NN NN
of IN IN
telecommunications NNS NNS
and CC CC
computer NN NN
services NNS NNS
. . .
<s>
Memotec : NNP
said VBD VBD
the DT DT
agreement NN NN
calls VBZ VBZ
for IN IN
it PRP PRP
to TO TO
make VB VB
a DT DT
$ $ $
20-a-share JJ JJ
cash NN NN
tender NN NN
offer NN NN
for IN IN
all DT DT
shares NNS NNS
outstanding JJ JJ
of IN IN
ISI NNP NNP
. . .
<s>
But CC CC
it PRP PRP
said VBD VBD
Charles NNP NNP
Johnston NNP NNP
, , ,
ISI NNP NNP
chairman NN NN
and CC CC
president NN NN
, , ,
agreed VBD VBD
to TO TO
sell VB VB
his PRP$ PRP$
60 CD CD
% NN NN
stake NN NN
in IN IN
ISI NNP NNP
to TO TO
Memotec : NNP
upon IN IN
completion NN NN
of IN IN
the DT DT
tender NN NN
offer NN NN
for IN IN
a DT DT
combination NN NN
of IN IN
cash NN NN
, , ,
Memotec : NNP
stock NN NN
and CC CC
debentures NNS NNS
. . .
<s>
Memotec : NNP
said VBD VBD
the DT DT
tender NN NN
offer NN NN
is VBZ VBZ
conditioned VBN VBN
on IN IN
, , ,
among IN IN
other JJ JJ
things NNS NNS
, , ,
holders NNS NNS
tendering VBG VBG
at IN IN
least JJS JJS
15 CD CD
% NN NN
of IN IN
the DT DT
shares NNS NNS
outstanding JJ JJ
, , ,
other JJ JJ
than IN IN
the DT DT
shares NNS NNS
held VBN VBN
by IN IN
Mr. NNP NNP
Johnston NNP NNP
. . .
<s>
ISI NNP NNP
said VBD VBD
its PRP$ PRP$
board NN NN
has VBZ VBZ
instructed VBN VBN
management NN NN
to TO TO
accept VB VB
inquiries NNS NNS
from IN IN
any DT DT
others NNS NNS
interested JJ VBN
in IN IN
making VBG VBG
a DT DT
bid NN NN
. . .
<s>
ISI NNP NNP
said VBD VBD
it PRP PRP
can MD MD
withdraw VB VB
from IN IN
the DT DT
merger NN NN
agreement NN NN
with IN IN
Memotec : NNP
if IN IN
a DT DT
better JJR JJR
bid NN NN
surfaces : VBZ
. . .
<s>
CMS NNP NNP
Energy NNP NNP
Corp. NNP NNP
, , ,
Jackson NNP NNP
, , ,
Mich. NNP NNP
, , ,
said VBD VBD
it PRP PRP
has VBZ VBZ
resumed VBN VBN
the DT DT
purchase NN NN
of IN IN
its PRP$ PRP$
common JJ JJ
stock NN NN
under IN IN
a DT DT
program NN NN
approved VBN VBN
by IN IN
its PRP$ PRP$
directors NNS NNS
in IN IN
1987 CD CD
. . .
<s>
At IN IN
the DT DT
time NN NN
of IN IN
the DT DT
original JJ JJ
announcement NN NN
, , ,
CMS NNP NNP
said VBD VBD
its PRP$ PRP$
board NN NN
authorized VBD VBD
the DT DT
purchase NN NN
of IN IN
as RB RB
many JJ JJ
as IN IN
five CD CD
million CD CD
of IN IN
its PRP$ PRP$
shares NNS NNS
. . .
<s>
A DT DT
spokesman NN NN
said VBD VBD
2.6 CD CD
million CD CD
shares NNS NNS
have VBP VBP
been VBN VBN
purchased VBN VBN
since IN IN
then RB RB
. . .
<s>
The DT DT
company NN NN
said VBD VBD
it PRP PRP
will MD MD
buy VB VB
additional JJ JJ
shares NNS NNS
`` `` ``
from IN IN
time NN NN
to TO TO
time NN NN
in IN IN
the DT DT
open JJ JJ
market NN NN
or CC CC
in IN IN
private JJ JJ
transactions NNS NNS
at IN IN
prevailing VBG VBG
market NN NN
prices NNS NNS
. . .
<s>
'' '' ''
In IN IN
composite JJ JJ
trading NN NN
on IN IN
the DT DT
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
, , ,
CMS NNP NNP
Energy NNP NNP
closed VBD VBD
at IN IN
$ $ $
34.375 CD CD
a DT DT
share NN NN
, , ,
down RB RB
62.5 CD CD
cents NNS NNS
, , ,
from IN IN
the DT DT
closing VBG VBG
price NN NN
of IN IN
$ $ $
37.375 CD CD
a DT DT
share NN NN
on IN IN
Thursday NNP NNP
, , ,
before IN IN
Friday NNP NNP
's POS POS
plunge NN NN
. . .
<s>
The DT DT
utility NN NN
company NN NN
currently RB RB
has VBZ VBZ
about RB RB
82.1 CD CD
million CD CD
shares NNS NNS
outstanding JJ JJ
. . .
<s>
Morgan NNP NNP
Stanley NNP NNP
& CC CC
Co. NNP NNP
will MD MD
act VB VB
as IN IN
the DT DT
exclusive JJ JJ
broker NN NN
for IN IN
the DT DT
repurchase NN NN
. . .
<s>
Hughes NNP NNP
Aircraft NNP NNP
Co. NNP NNP
, , ,
a DT DT
unit NN NN
of IN IN
General NNP NNP
Motors NNPS NNP
Corp. NNP NNP
, , ,
said VBD VBD
it PRP PRP
agreed VBD VBD
to TO TO
purchase VB VB
the DT DT
Electro-Optics : NNP
Technology NNP NNP
division NN NN
of IN IN
Perkin-Elmer NNP NNP
Corp NNP NNP
. . .
<s>
Terms NNS NNS
of IN IN
the DT DT
agreement NN NN
were VBD VBD
n't RB RB
disclosed VBN VBN
. . .
<s>
But CC CC
for IN IN
the DT DT
fiscal JJ JJ
year NN NN
ended VBN VBN
July NNP NNP
31 CD CD
, , ,
1988 CD CD
, , ,
the DT DT
most RBS RBS
recent JJ JJ
period NN NN
for IN IN
which WDT WDT
results NNS NNS
were VBD VBD
broken VBN VBN
out RP RP
, , ,
the DT DT
Perkin-Elmer NNP NNP
unit NN NN
accounted VBD VBD
for IN IN
more JJR JJR
than IN IN
half PDT PDT
the DT DT
$ $ $
145 CD CD
million CD CD
in IN IN
sales NNS NNS
recorded VBN VBN
by IN IN
the DT DT
company NN NN
's POS POS
government NN NN
systems NNS NNS
sector NN NN
. . .
<s>
Perkin-Elmer NNP NNP
, , ,
which WDT WDT
is VBZ VBZ
based VBN VBN
in IN IN
Norwalk NNP NNP
, , ,
Conn. NNP NNP
, , ,
said VBD VBD
the DT DT
sale NN NN
of IN IN
the DT DT
Danbury NNP NNP
, , ,
Conn. NNP NNP
, , ,
unit NN NN
is VBZ VBZ
consistent JJ JJ
with IN IN
its PRP$ PRP$
restructuring NN VBG
strategy NN NN
announced VBN VBD
in IN IN
April NNP NNP
. . .
<s>
In IN IN
addition NN NN
to TO TO
making VBG VBG
electro-optical JJ JJ
systems NNS NNS
, , ,
the DT DT
unit NN NN
also RB RB
makes VBZ VBZ
laser NN NN
warning NN NN
receivers NNS NNS
. . .
<s>
These DT DT
are VBP VBP
used VBN VBN
aboard IN IN
military JJ JJ
helicopters NNS NNS
to TO TO
warn VB VB
pilots NNS NNS
that IN IN
a DT DT
laser NN NN
weapon NN NN
has VBZ VBZ
been VBN VBN
focused VBN VBN
on IN IN
them PRP PRP
. . .
<s>
Hughes NNP NNP
of IN IN
Los NNP NNP
Angeles NNP NNP
said VBD VBD
the DT DT
PerkinElmer NNP NNP
unit NN NN
's POS POS
work NN NN
complements VBZ VBZ
efforts NNS NNS
by IN IN
its PRP$ PRP$
Electro-Optical NNP NNP
and CC CC
Data NNP NNP
Systems NNPS NNP
group NN NN
, , ,
which WDT WDT
makes VBZ VBZ
infrared JJ JJ
sensors NNS NNS
, , ,
military JJ JJ
lasers NNS NNS
and CC CC
night NN NN
vision NN NN
equipment NN NN
. . .
<s>
Hughes NNP NNP
said VBD VBD
it PRP PRP
expects VBZ VBZ
the DT DT
sale NN NN
to TO TO
close VB VB
by IN IN
year NN NN
end NN NN
. . .
<s>
The DT DT
Communications NNPS NNP
Workers NNPS NNP
of IN IN
America NNP NNP
ratified VBD VBD
a DT DT
new JJ JJ
regional JJ JJ
contract NN NN
and CC CC
all DT DT
but CC CC
one CD CD
of IN IN
the DT DT
local JJ JJ
agreements NNS NNS
with IN IN
Bell NNP NNP
Atlantic NNP NNP
Corp NNP NNP
. . .
<s>
CWA NNP NNP
's POS POS
New NNP NNP
Jersey NNP NNP
Commercial NNP NNP
local JJ NN
, , ,
which WDT WDT
represents VBZ VBZ
about IN RB
2,500 CD CD
service NN NN
representatives NNS NNS
and CC CC
marketing NN NN
employees NNS NNS
, , ,
rejected VBD VBD
the DT DT
tentative JJ JJ
agreement NN NN
. . .
<s>
Both DT DT
the DT DT
union NN NN
and CC CC
the DT DT
regional JJ JJ
telephone NN NN
company NN NN
said VBD VBD
they PRP PRP
were VBD VBD
working VBG VBG
together RB RB
to TO TO
resolve VB VB
differences NNS NNS
. . .
<s>
The DT DT
new JJ JJ
three-year JJ JJ
contracts NNS NNS
, , ,
which WDT WDT
replace VBP VBP
ones NNS NNS
that WDT WDT
expired VBD VBD
Aug. NNP NNP
5 CD CD
, , ,
cover VB VBP
41,000 CD CD
Bell NNP NNP
Atlantic NNP NNP
employees NNS NNS
. . .
<s>
The DT DT
ratification NN NN
follows VBZ VBZ
a DT DT
23-day JJ JJ
strike NN NN
against IN IN
the DT DT
Philadelphia-based JJ JJ
company NN NN
. . .
<s>
Meanwhile RB RB
, , ,
CWA NNP NNP
and CC CC
International NNP NNP
Brotherhood NNP NNP
of IN IN
Electrical JJ NNP
Workers NNPS NNP
members NNS NNS
remain VBP VBP
on IN IN
strike NN NN
against IN IN
Nynex NNP NNP
Corp. NNP NNP
, , ,
the DT DT
New NNP NNP
York-based JJ JJ
regional JJ JJ
phone NN NN
company NN NN
. . .
<s>
The DT DT
unions NNS NNS
and CC CC
the DT DT
company NN NN
last JJ JJ
week NN NN
agreed VBD VBD
to TO TO
mediation : NN
. . .
<s>
The DT DT
CWA NNP NNP
represents VBZ VBZ
40,000 CD CD
Nynex NNP NNP
workers NNS NNS
and CC CC
the DT DT
IBEW NNP NNP
represents VBZ VBZ
20,000 CD CD
workers NNS NNS
. . .
<s>
For IN IN
the DT DT
moment NN NN
, , ,
at IN IN
least JJS JJS
, , ,
euphoria NN NN
has VBZ VBZ
replaced VBN VBN
anxiety NN NN
on IN IN
Wall NNP NNP
Street NNP NNP
. . .
<s>
The DT DT
Dow NNP NNP
Jones NNP NNP
Industrial NNP NNP
Average NNP NNP
jumped VBD VBD
sharply RB RB
yesterday NN NN
to TO TO
close VB VB
at IN IN
2657.38 CD CD
, , ,
panic NN NN
did VBD VBD
n't RB RB
sweep NN VB
the DT DT
world NN NN
's POS POS
markets NNS NNS
, , ,
and CC CC
investors NNS NNS
large JJ JJ
and CC CC
small JJ JJ
seemed VBD VBD
to TO TO
accept VB VB
Friday NNP NNP
's POS POS
dizzying JJ VBG
190-point JJ JJ
plunge NN NN
as IN IN
a DT DT
sharp JJ JJ
correction NN NN
, , ,
not RB RB
a DT DT
calamity NN NN
. . .
<s>
Many JJ JJ
went VBD VBD
bargain-hunting NN NN
. . .
<s>
Among IN IN
those DT DT
sighing : VBG
with IN IN
relief NN NN
was VBD VBD
John NNP NNP
H. NNP NNP
Gutfreund NNP NNP
, , ,
chairman NN NN
of IN IN
Salomon NNP NNP
Brothers NNPS NNP
, , ,
who WP WP
took VBD VBD
to TO TO
the DT DT
firm NN NN
's POS POS
trading NN NN
floor NN NN
to TO TO
monitor VB VB
yesterday NN NN
's POS POS
events NNS NNS
. . .
<s>
As IN IN
the DT DT
rally NN NN
gained VBD VBD
strength NN NN
at IN IN
3:15 CD CD
p.m. NN NN
, , ,
he PRP PRP
smiled VBD VBD
broadly RB RB
, , ,
brandished VBD VBD
his PRP$ PRP$
unlit JJ NN
cigar NN NN
and CC CC
slapped VBD VBD
Stanley NNP NNP
Shopkorn NNP NNP
, , ,
his PRP$ PRP$
top JJ JJ
stock NN NN
trader NN NN
, , ,
on IN IN
the DT DT
back NN NN
. . .
<s>
At IN IN
first RB JJ
, , ,
it PRP PRP
seemed VBD VBD
as IN IN
if IN IN
history NN NN
might MD MD
repeat VB VB
itself PRP PRP
. . .
<s>
As IN IN
trading NN NN
opened VBD VBD
yesterday NN NN
morning NN NN
on IN IN
the DT DT
Big NNP NNP
Board NNP NNP
, , ,
stocks NNS NNS
of IN IN
many JJ JJ
of IN IN
the DT DT
nation NN NN
's POS POS
biggest JJS JJS
companies NNS NNS
could MD MD
n't RB RB
open VB VB
for IN IN
trading NN NN
because IN IN
a DT DT
wave NN NN
of IN IN
sell NN NN
orders NNS NNS
was VBD VBD
overwhelming JJ VBG
buyers NNS NNS
. . .
<s>
By IN IN
10:10 CD CD
, , ,
the DT DT
Dow NNP NNP
Industrials NNP NNP
were VBD VBD
off RB JJ
63.52 CD CD
points NNS NNS
, , ,
and CC CC
the DT DT
stock NN NN
of IN IN
UAL NNP NNP
Corp. NNP NNP
, , ,
whose WP$ WP$
troubles NNS NNS
had VBD VBD
kicked VBN VBN
off RP RP
Friday NNP NNP
's POS POS
plunge NN NN
, , ,
still RB RB
had VBD VBD
n't RB RB
opened VBN VBN
. . .
<s>
But CC CC
then RB RB
, , ,
as RB RB
quickly RB RB
as IN IN
the DT DT
Dow NNP NNP
had VBD VBD
fallen VBN VBN
, , ,
it PRP PRP
began VBD VBD
to TO TO
turn VB VB
around RP RP
. . .
<s>
It PRP PRP
ended VBD VBD
with IN IN
a DT DT
gain NN NN
of IN IN
88.12 CD CD
points NNS NNS
. . .
<s>
By IN IN
the DT DT
market NN NN
's POS POS
close NN NN
, , ,
volume NN NN
on IN IN
the DT DT
New NNP NNP
York NNP NNP
exchange NN NN
totaled VBD VBD
more JJR JJR
than IN IN
416 CD CD
million CD CD
, , ,
the DT DT
fourth JJ JJ
highest JJS JJS
on IN IN
record NN NN
. . .
<s>
The DT DT
Big NNP NNP
Board NNP NNP
handled VBD VBD
the DT DT
huge JJ JJ
volume NN NN
without IN IN
any DT DT
obvious JJ JJ
strain NN NN
, , ,
in IN IN
sharp JJ JJ
contrast NN NN
to TO TO
Black NNP NNP
Monday NNP NNP
of IN IN
1987 CD CD
. . .
<s>
But CC CC
the DT DT
rally NN NN
was VBD VBD
largely RB RB
confined VBN VBN
to TO TO
the DT DT
blue-chip JJ JJ
stocks NNS NNS
, , ,
which WDT WDT
had VBD VBD
been VBN VBN
hard RB RB
hit VBN VBN
during IN IN
Friday NNP NNP
's POS POS
selling NN NN
frenzy NN NN
. . .
<s>
Overall RB JJ
, , ,
more RBR JJR
Big NNP NNP
Board NNP NNP
stocks NNS NNS
lost VBD VBD
money NN NN
than IN IN
gained VBN VBN
. . .
<s>
And CC CC
many JJ JJ
arbitragers NNS NNS
, , ,
already RB RB
reeling VBG VBG
from IN IN
Friday NNP NNP
's POS POS
collapse NN NN
of IN IN
the DT DT
UAL NNP NNP
deal NN NN
, , ,
were VBD VBD
further RB RBR
hurt VBN VBN
yesterday NN NN
when WRB WRB
a DT DT
proposed VBN VBN
takeover NN NN
of IN IN
AMR NNP NNP
Corp. NNP NNP
, , ,
the DT DT
parent NN NN
of IN IN
American NNP NNP
Airlines NNPS NNP
, , ,
collapsed VBD VBD
. . .
<s>
Indeed RB RB
, , ,
the DT DT
Dow NNP NNP
Jones NNP NNP
Transportation NNP NNP
Average NNP NNP
plunged VBD VBD
102.06 CD CD
points NNS NNS
, , ,
its PRP$ PRP$
second-worst JJ JJ
drop NN NN
in IN IN
history NN NN
. . .
<s>
World-wide JJ JJ
, , ,
trading NN NN
was VBD VBD
generally RB RB
manageable JJ JJ
. . .
<s>
The DT DT
Frankfurt NNP NNP
stock NN NN
exchange NN NN
was VBD VBD
hardest RBS RBS
hit VBN VBN
of IN IN
the DT DT
major JJ JJ
markets NNS NNS
, , ,
with IN IN
blue JJ JJ
chips NNS NNS
there RB RB
falling VBG VBG
12.8 CD CD
% NN NN
. . .
<s>
In IN IN
London NNP NNP
, , ,
a DT DT
midday NN NN
rally NN NN
left VBD VBD
the DT DT
market NN NN
's POS POS
major JJ JJ
index NN NN
off IN IN
3.2 CD CD
% NN NN
, , ,
and CC CC
Tokyo NNP NNP
's POS POS
leading VBG VBG
stock NN NN
index NN NN
fell VBD VBD
only RB RB
1.8 CD CD
% NN NN
in IN IN
surprisingly RB RB
lackluster JJ NN
trading NN NN
. . .
<s>
Other JJ JJ
, , ,
more RBR RBR
thinly RB RB
traded VBN VBN
Asian JJ JJ
markets NNS NNS
were VBD VBD
hit VBN VBN
harder RBR RBR
than IN IN
Tokyo NNP NNP
's POS POS
, , ,
but CC CC
there EX EX
were VBD VBD
no DT DT
free-fall JJ JJ
declines NNS NNS
. . .
<s>
Investors NNS NNS
big JJ JJ
and CC CC
small JJ JJ
say VBP VBP
they PRP PRP
learned VBD VBD
valuable JJ JJ
lessons NNS NNS
since IN IN
the DT DT
1987 CD CD
crash NN NN
: : :
In IN IN
this DT DT
age NN NN
of IN IN
computerized JJ VBN
trading NN NN
, , ,
huge JJ JJ
corrections NNS NNS
or CC CC
runups NNS NNS
in IN IN
a DT DT
few JJ JJ
hours NNS NNS
' POS POS
time NN NN
must MD MD
be VB VB
expected VBN VBN
. . .
<s>
What WP WP
's VBZ VBZ
more JJR JJR
, , ,
such JJ JJ
short-term JJ JJ
cataclysms NNS NNS
are VBP VBP
survivable JJ JJ
and CC CC
are VBP VBP
no DT DT
cause NN NN
for IN IN
panic NN NN
selling NN NN
. . .
<s>
Stephen NNP NNP
Boesel NNP NNP
, , ,
a DT DT
major JJ JJ
money NN NN
manager NN NN
for IN IN
T. NNP NNP
Rowe NNP NNP
Price NNP NNP
in IN IN
Baltimore NNP NNP
, , ,
says VBZ VBZ
, , ,
`` `` ``
There EX EX
was VBD VBD
less JJR JJR
panic NN NN
than IN IN
in IN IN
1987 CD CD
: : :
We PRP PRP
had VBD VBD
been VBN VBN
through IN IN
it PRP PRP
once RB RB
. . .
<s>
'' '' ''
In IN IN
Somerset NNP NNP
, , ,
Wis. NNP NNP
, , ,
Adrian NNP NNP
Sween NNP NNP
, , ,
who WP WP
owns VBZ VBZ
a DT DT
supplier NN NN
of IN IN
nursing-home NN NN
equipment NN NN
and CC CC
is VBZ VBZ
n't RB RB
active JJ JJ
in IN IN
the DT DT
stock NN NN
market NN NN
, , ,
agrees VBZ VBZ
. . .
<s>
`` `` ``
I PRP PRP
look VBP VBP
at IN IN
it PRP PRP
as IN IN
a DT DT
ho-hum JJ JJ
matter NN NN
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
Many JJ JJ
other JJ JJ
factors NNS NNS
played VBD VBD
a DT DT
part NN NN
in IN IN
yesterday NN NN
's POS POS
comeback NN NN
. . .
<s>
The DT DT
Federal NNP NNP
Reserve NNP NNP
signaled VBD VBD
its PRP$ PRP$
willingness NN NN
to TO TO
provide VB VB
liquidity NN NN
; : :
the DT DT
interest NN NN
rate NN NN
on IN IN
its PRP$ PRP$
loans NNS NNS
to TO TO
major JJ JJ
banks NNS NNS
inched VBD VBD
downward RB RB
early RB JJ
in IN IN
the DT DT
day NN NN
. . .
<s>
Foreign JJ JJ
stock NN NN
markets NNS NNS
, , ,
which WDT WDT
kicked VBD VBD
off RP RP
Black NNP NNP
Monday NNP NNP
with IN IN
a DT DT
huge JJ JJ
selling NN NN
spree NN NN
, , ,
began VBD VBD
the DT DT
day NN NN
off RP JJ
by IN IN
relatively RB RB
modest JJ JJ
amounts NNS NNS
. . .
<s>
The DT DT
dollar NN NN
, , ,
after IN IN
falling VBG VBG
sharply RB RB
in IN IN
overnight JJ JJ
trading NN NN
to TO TO
139.10 CD CD
yen NN NNS
, , ,
bounced VBD VBD
back RP RB
strongly RB RB
to TO TO
141.8 CD CD
, , ,
thus RB RB
easing VBG VBG
fears NNS NNS
that IN IN
foreigners NNS NNS
would MD MD
unload VB VB
U.S. NNP NNP
stocks NNS NNS
. . .
<s>
And CC CC
the DT DT
widely RB RB
disseminated VBN VBN
opinion NN NN
among IN IN
most JJS JJS
market NN NN
experts NNS NNS
that IN IN
a DT DT
crash NN NN
was VBD VBD
n't RB RB
in IN IN
store NN NN
also RB RB
helped VBD VBD
calm JJ VB
investors NNS NNS
. . .
<s>
Many JJ JJ
major JJ JJ
institutions NNS NNS
, , ,
for IN IN
example NN NN
, , ,
came VBD VBD
into IN IN
work NN NN
yesterday NN NN
ready JJ JJ
to TO TO
buy VB VB
some DT DT
of IN IN
the DT DT
blue JJ JJ
chips NNS NNS
they PRP PRP
felt VBD VBD
had VBD VBD
been VBN VBN
sharply RB RB
undervalued VBN VBN
on IN IN
Friday NNP NNP
. . .
<s>
Still RB RB
, , ,
amid IN IN
all PDT DT
the DT DT
backslapping VBG VBG
and CC CC
signs NNS NNS
of IN IN
relief NN NN
over IN IN
yesterday NN NN
's POS POS
events NNS NNS
, , ,
some DT DT
market NN NN
professionals NNS NNS
cautioned VBD VBD
that IN IN
there EX EX
is VBZ VBZ
nothing NN NN
present NN JJ
in IN IN
the DT DT
current JJ JJ
market NN NN
system NN NN
to TO TO
prevent VB VB
another DT DT
dizzying JJ JJ
drop NN NN
such JJ JJ
as IN IN
Friday NNP NNP
's POS POS
. . .
<s>
`` `` ``
There EX EX
is VBZ VBZ
too RB RB
much JJ JJ
complacency NN NN
, , ,
'' '' ''
says VBZ VBZ
money NN NN
manager NN NN
Barry NNP NNP
Schrager NNP NNP
. . .
<s>
Computers NNS NNS
have VBP VBP
increasingly RB RB
connected VBN JJ
securities NNS NNS
markets NNS NNS
world-wide JJ JJ
, , ,
so IN RB
that IN IN
a DT DT
buying NN NN
or CC CC
selling NN NN
wave NN NN
in IN IN
one CD CD
market NN NN
is VBZ VBZ
often RB RB
passed VBN VBN
around IN IN
the DT DT
globe NN NN
. . .
<s>
So RB RB
investors NNS NNS
everywhere RB RB
nervously RB RB
eyed JJ VBD
yesterday NN NN
's POS POS
opening NN NN
in IN IN
Tokyo NNP NNP
, , ,
where WRB WRB
the DT DT
Nikkei NNP NNP
average NN NN
of IN IN
225 CD CD
blue-chip JJ JJ
stocks NNS NNS
got VBD VBD
off RP RP
to TO TO
a DT DT
rocky JJ JJ
start NN NN
. . .
<s>
The DT DT
average NN NN
plunged VBD VBD
some DT DT
600 CD CD
points NNS NNS
, , ,
or CC CC
1.7 CD CD
% NN NN
, , ,
in IN IN
the DT DT
first JJ JJ
20 CD CD
minutes NNS NNS
of IN IN
trading NN NN
. . .
<s>
But CC CC
the DT DT
selling NN NN
wave NN NN
had VBD VBD
no DT DT
conviction NN NN
, , ,
and CC CC
the DT DT
market NN NN
first RB RB
surged VBD VBD
upward RB RB
by IN IN
200 CD CD
points NNS NNS
, , ,
then RB RB
drifted VBD VBD
lower RBR RBR
, , ,
closing VBG VBG
down RP RB
647 CD CD
. . .
<s>
Unlike IN IN
two CD CD
years NNS NNS
ago RB RB
, , ,
most JJS JJS
of IN IN
Japan NNP NNP
's POS POS
major JJ JJ
investors NNS NNS
chose VBD VBD
to TO TO
sit VB VB
this DT DT
calamity NN NN
out RP RP
. . .
<s>
In IN IN
Merrill NNP NNP
Lynch NNP NNP
& CC CC
Co. NNP NNP
's POS POS
Tokyo NNP NNP
trading NN NN
room NN NN
, , ,
some DT DT
40 CD CD
traders NNS NNS
and CC CC
assistants NNS NNS
sat VBD VBD
quietly RB RB
, , ,
with IN IN
few JJ JJ
orders NNS NNS
to TO TO
process VB NN
. . .
<s>
Clients NNS NNS
`` `` ``
are VBP VBP
all DT DT
staying VBG VBG
out RP IN
'' '' ''
of IN IN
the DT DT
market NN NN
, , ,
one CD CD
Merrill NNP NNP
trader NN NN
says VBZ VBZ
. . .
<s>
The DT DT
relative JJ JJ
calm JJ NN
in IN IN
Tokyo NNP NNP
proved VBD VBD
little JJ JJ
comfort NN NN
to TO TO
markets NNS NNS
opening VBG VBG
up RP RP
in IN IN
Europe NNP NNP
. . .
<s>
Frankfurt NNP NNP
's POS POS
opening NN NN
was VBD VBD
delayed VBN VBN
a DT DT
half JJ JJ
hour NN NN
because IN IN
of IN IN
a DT DT
crush NN NN
of IN IN
sell NN NN
orders NNS NNS
. . .
<s>
`` `` ``
The DT DT
beginning NN NN
was VBD VBD
chaotic JJ JJ
, , ,
'' '' ''
says VBZ VBZ
Nigel NNP NNP
Longley NNP NNP
, , ,
a DT DT
broker NN NN
for IN IN
Commerzbank NNP NNP
In IN IN
London NNP NNP
, , ,
the DT DT
view NN NN
from IN IN
the DT DT
trading NN NN
floor NN NN
of IN IN
an DT DT
American JJ JJ
securities NNS NNS
firm NN NN
, , ,
Jefferies NNP NNP
& CC CC
Co. NNP NNP
, , ,
also RB RB
was VBD VBD
troubling VBG JJ
. . .
<s>
A DT DT
computer NN NN
screen NN NN
displaying VBG VBG
100 CD CD
blue-chip JJ JJ
stocks NNS NNS
colors NNS NNS
each DT DT
one CD CD
red NN NN
when WRB WRB
its PRP$ PRP$
price NN NN
is VBZ VBZ
falling VBG VBG
. . .
<s>
The DT DT
screen NN NN
was VBD VBD
a DT DT
sea NN NN
of IN IN
red JJ NN
. . .
<s>
`` `` ``
I PRP PRP
see VBP VBP
concern NN NN
, , ,
but CC CC
I PRP PRP
do VBP VBP
n't RB RB
see VB VB
panic NN NN
, , ,
'' '' ''
says VBZ VBZ
J. NNP NNP
Francis NNP NNP
Palamara NNP NNP
, , ,
a DT DT
New NNP NNP
Yorker NNP NNP
who WP WP
runs VBZ VBZ
the DT DT
15-trader JJ JJ
office NN NN
. . .
<s>
London NNP NNP
's POS POS
blue-chip JJ JJ
stock NN NN
index NN NN
turned VBD VBD
up RP RB
just RB RB
before IN IN
8 CD CD
a.m RB NN
. . .
<s>
New NNP NNP
York NNP NNP
time NN NN
, , ,
sending VBG VBG
an DT DT
encouraging JJ JJ
message NN NN
to TO TO
Wall NNP NNP
Street NNP NNP
. . .
<s>
When WRB WRB
trading NN NN
opened VBD VBD
in IN IN
New NNP NNP
York NNP NNP
at IN IN
9:30 CD CD
a.m. RB NN
EDT NNP NNP
, , ,
stocks NNS NNS
fell VBD VBD
sharply RB RB
-- : :
as IN IN
expected VBN VBN
. . .
<s>
Futures NNS NNS
markets NNS NNS
in IN IN
Chicago NNP NNP
had VBD VBD
opened VBN VBN
at IN IN
a DT DT
level NN NN
suggesting VBG VBG
the DT DT
Dow NNP NNP
would MD MD
fall VB VB
by IN IN
about RB RB
60 CD CD
points NNS NNS
. . .
<s>
With IN IN
sell NN NN
orders NNS NNS
piled VBD VBD
up RP RP
from IN IN
Friday NNP NNP
, , ,
about IN RB
half PDT PDT
the DT DT
stocks NNS NNS
in IN IN
the DT DT
Dow NNP NNP
could MD MD
n't RB RB
open VB VB
on IN IN
time NN NN
. . .
<s>
By IN IN
9:45 CD CD
, , ,
the DT DT
industrial JJ JJ
average NN NN
had VBD VBD
dropped VBN VBN
27 CD CD
points NNS NNS
. . .
<s>
By IN IN
10 CD CD
a.m. NN NN
, , ,
it PRP PRP
was VBD VBD
down RB RB
49 CD CD
. . .
<s>
Ten CD CD
minutes NNS NNS
later RB RBR
, , ,
the DT DT
Dow NNP NNP
hit NN VBD
bottom NN NN
- : :
down RB RB
63.52 CD CD
points NNS NNS
, , ,
another DT DT
2.5 CD CD
% NN NN
. . .
<s>
But CC CC
shortly RB RB
before IN IN
then RB RB
, , ,
some DT DT
of IN IN
Wall NNP NNP
Street NNP NNP
's POS POS
sharpest JJS JJS
traders NNS NNS
say VBP VBP
, , ,
they PRP PRP
sensed VBD VBD
a DT DT
turn NN NN
. . .
<s>
`` `` ``
The DT DT
first JJ JJ
thing NN NN
that WDT WDT
caught VBD VBD
my PRP$ PRP$
eye NN NN
that WDT WDT
was VBD VBD
encouraging VBG VBG
was VBD VBD
Treasury NNP NNP
bonds NNS NNS
were VBD VBD
off RP RB
, , ,
'' '' ''
says VBZ VBZ
Austin NNP NNP
George NNP NNP
, , ,
head NN NN
of IN IN
stock NN NN
trading NN VBG
at IN IN
T. NNP NNP
Rowe NNP NNP
Price NNP NNP
. . .
<s>
`` `` ``
It PRP PRP
meant VBD VBD
that IN IN
people NNS NNS
were VBD VBD
n't RB RB
running VBG VBG
pell-mell JJ NN
to TO TO
the DT DT
safety NN NN
of IN IN
bonds NNS NNS
. . .
<s>
'' '' ''
Shortly RB RB
after IN IN
10 CD CD
a.m. NN NN
, , ,
the DT DT
Major NNP NNP
Market NNP NNP
Index NNP NNP
, , ,
a DT DT
Chicago NNP NNP
Board NNP NNP
of IN IN
Trade NNP NNP
futures NNS NNS
contract NN VB
of IN IN
20 CD CD
stocks NNS NNS
designed VBN VBN
to TO TO
mimic VB VB
the DT DT
DJIA NNP NNP
, , ,
exploded VBD VBD
upward RB RB
. . .
<s>
Stock NN NN
traders NNS NNS
were VBD VBD
buoyed VBN VBN
-- : :
because IN IN
an DT DT
upturn NN NN
in IN IN
the DT DT
MMI NNP NNP
had VBD VBD
also RB RB
started VBN VBN
the DT DT
recovery NN NN
in IN IN
stocks NNS NNS
on IN IN
the DT DT
Tuesday NNP NNP
following VBG NN
Black NNP NNP
Monday NNP NNP
. . .
<s>
`` `` ``
The DT DT
MMI NNP NNP
has VBZ VBZ
gone VBN VBN
better RBR RB
, , ,
'' '' ''
shouted VBD VBD
a DT DT
trader NN NN
in IN IN
the DT DT
London NNP NNP
office NN NN
of IN IN
Shearson NNP NNP
Lehman NNP NNP
Hutton NNP NNP
. . .
<s>
Shearson NNP NNP
's POS POS
London NNP NNP
trading NN VBG
room NN NN
went VBD VBD
wild RB JJ
. . .
<s>
Traders NNS NNS
shouted VBD VBD
out RP RP
as IN RB
their PRP$ PRP$
Reuters NNP NNP
, , ,
Quotron NNP NNP
and CC CC
Telerate NNP NNP
screens NNS NNS
posted VBD VBD
an DT DT
ever-narrowing JJ JJ
loss NN NN
on IN IN
Wall NNP NNP
Street NNP NNP
. . .
<s>
Then RB RB
, , ,
nine CD CD
minutes NNS NNS
later RB RB
, , ,
Wall NNP NNP
Street NNP NNP
suddenly RB RB
rebounded VBD VB
to TO TO
a DT DT
gain NN NN
on IN IN
the DT DT
day NN NN
. . .
<s>
`` `` ``
Rally NN VB
, , ,
rally NN VB
, , ,
rally NN VB
, , ,
'' '' ''
shouted VBD VBD
Shearson NNP NNP
's POS POS
Andy NNP NNP
Rosen NNP NNP
. . .
<s>
`` `` ``
This DT DT
is VBZ VBZ
panic NN NN
buying NN NN
. . .
<s>
'' '' ''
Major JJ JJ
blue-chip JJ JJ
stocks NNS NNS
like IN IN
Philip NNP NNP
Morris NNP NNP
, , ,
General NNP NNP
Motors NNPS NNP
and CC CC
Proctor NNP NNP
& CC CC
Gamble NNP NNP
led VBD VBD
the DT DT
rally NN NN
. . .
<s>
Japanese JJ NNP
were VBD VBD
said VBN VBD
to TO TO
be VB VB
heavy JJ NN
buyers NNS NNS
. . .
<s>
German JJ NNP
and CC CC
Dutch JJ NNP
investors NNS NNS
reportedly RB RB
loaded VBD VBD
up RP RP
on IN IN
Kellogg NNP NNP
Co NNP NNP
. . .
<s>
Then RB RB
, , ,
traders NNS NNS
say VBP VB
, , ,
corporations NNS NNS
with IN IN
share NN NN
buy-back NN JJ
programs NNS NNS
kicked VBD VBN
into IN IN
high JJ JJ
gear NN NN
, , ,
triggering VBG VBG
gains NNS NNS
in IN IN
, , ,
among IN IN
other JJ JJ
issues NNS NNS
, , ,
Alcan NNP NNP
Aluminium NNP NNP
and CC CC
McDonald NNP NNP
's POS POS
. . .
<s>
Walt NNP NNP
Disney NNP NNP
Co. NNP NNP
, , ,
which WDT WDT
had VBD VBD
one CD NN
of IN IN
the DT DT
biggest JJS JJS
sell-order NN JJ
imbalances NNS NNS
on IN IN
Friday NNP NNP
and CC CC
was VBD VBD
one CD CD
of IN IN
seven CD CD
stocks NNS NNS
that WDT WDT
halted VBD VBD
trading NN NN
and CC CC
never RB RB
reopened VBD VBD
that DT DT
day NN NN
, , ,
opened VBD VBD
yesterday NN NN
late RB RB
at IN IN
114.5 CD CD
, , ,
down RB RB
8.5 CD CD
. . .
<s>
But CC CC
then RB RB
it PRP PRP
suddenly RB RB
burst VBD VBD
upward RB RB
7.5 CD CD
as IN IN
Goldman NNP NNP
, , ,
Sachs NNP NNP
& CC CC
Co. NNP NNP
stepped VBD VBD
in IN RB
and CC CC
bought VBD VBD
almost RB RB
every DT DT
share NN NN
offer NN NN
, , ,
traders NNS NNS
said VBD VBD
. . .
<s>
By IN IN
10:25 CD CD
, , ,
the DT DT
Dow NNP NNP
had VBD VBD
turned VBN VBN
up RP IN
for IN IN
the DT DT
day NN NN
, , ,
prompting VBG VBG
cheers NNS NNS
on IN IN
trading NN VBG
desks NNS NNS
and CC CC
exchange NN NN
floors NNS NNS
. . .
<s>
Among IN IN
Big NNP NNP
Board NNP NNP
specialists NNS NNS
, , ,
the DT DT
cry NN NN
was VBD VBD
`` `` ``
Pull VB VB
your PRP$ PRP$
offers NNS NNS
'' '' ''
-- : :
meaning VBG NN
that IN IN
specialists NNS NNS
soon RB RB
expected VBN VBN
to TO TO
get VB VB
higher JJR JJR
prices NNS NNS
for IN IN
their PRP$ PRP$
shares NNS NNS
. . .
<s>
`` `` ``
It PRP PRP
was VBD VBD
bedlam NN NN
on IN IN
the DT DT
upside NN RB
, , ,
'' '' ''
said VBD VBD
one CD CD
Big NNP NNP
Board NNP NNP
specialist NN NN
. . .
<s>
`` `` ``
What WP WP
we PRP PRP
had VBD VBD
was VBD VBD
a DT DT
real JJ JJ
, , ,
old-fashioned JJ JJ
rally NN NN
. . .
<s>
'' '' ''
This DT DT
technical JJ JJ
strength NN NN
spurred VBD VBD
buying VBG NN
from IN IN
Wall NNP NNP
Street NNP NNP
's POS POS
`` `` ``
black JJ JJ
boxes NNS NNS
, , ,
'' '' ''
computer NN NN
programs NNS NNS
designed VBN VBN
to TO TO
trigger VB VB
large JJ JJ
stock NN NN
purchases NNS NNS
during IN IN
bullish JJ JJ
periods NNS NNS
. . .
<s>
Typical JJ JJ
, , ,
perhaps RB RB
, , ,
was VBD VBD
Batterymarch NNP NNP
's POS POS
Dean NNP NNP
LeBaron NNP NNP
. . .
<s>
Mr. NNP NNP
LeBaron NNP NNP
, , ,
who WP WP
manages VBZ VBZ
$ $ $
10 CD CD
billion CD CD
, , ,
says VBZ VBZ
, , ,
`` `` ``
We PRP PRP
turned VBD VBD
the DT DT
trading NN NN
system NN NN
on IN RP
, , ,
and CC CC
it PRP PRP
did VBD VBD
whatever WDT WDT
it PRP PRP
was VBD VBD
programmed VBN VBN
to TO TO
do VB VB
. . .
<s>
'' '' ''
Asked VBD VBN
what WP WP
stocks VBZ VBZ
the DT DT
computer NN NN
bought VBD VBD
, , ,
the DT DT
money NN NN
manager NN NN
says VBZ VBZ
, , ,
`` `` ``
I PRP PRP
do VBP VBP
n't RB RB
know VB VB
. . .
<s>
'' '' ''
Not RB RB
everybody NN NN
was VBD VBD
making VBG VBG
money NN NN
. . .
<s>
The DT DT
carnage NN NN
on IN IN
the DT DT
Chicago NNP NNP
Board NNP NNP
Options NNPS NNP
Exchange NNP NNP
, , ,
the DT DT
nation NN NN
's POS POS
major JJ JJ
options NNS NNS
market NN NN
, , ,
was VBD VBD
heavy JJ JJ
after IN IN
the DT DT
trading NN NN
in IN IN
S&P NNP NNP
100 CD CD
stock-index JJ JJ
options NNS NNS
was VBD VBD
halted VBN VBN
Friday NNP NNP
. . .
<s>
Many JJ JJ
market NN NN
makers NNS NNS
in IN IN
the DT DT
S&P NNP NNP
100 CD CD
index NN NN
options NNS NNS
contract NN NN
had VBD VBD
bullish JJ JJ
positions NNS NNS
Friday NNP NNP
, , ,
and CC CC
when WRB WRB
the DT DT
shutdown NN NN
came VBD VBD
they PRP PRP
were VBD VBD
frozen VBN VBN
with IN IN
huge JJ JJ
losses NNS NNS
. . .
<s>
Over IN IN
the DT DT
weekend NN NN
, , ,
clearing NN NN
firms NNS NNS
told VBD VBD
the DT DT
Chicago NNP NNP
market NN NN
makers NNS NNS
to TO TO
get VB VB
out IN IN
of IN IN
their PRP$ PRP$
positions NNS NNS
at IN IN
any DT DT
cost NN NN
Monday NNP NNP
morning NN NN
. . .
<s>
`` `` ``
They PRP PRP
were VBD VBD
absolutely RB RB
killed VBN VBN
, , ,
slaughtered VBN VBN
, , ,
'' '' ''
said VBD VBD
one CD CD
Chicago-based JJ JJ
options NNS NNS
trader NN NN
. . .
<s>
Meanwhile RB RB
, , ,
a DT DT
test NN NN
of IN IN
the DT DT
stock NN NN
market NN NN
's POS POS
rally NN NN
came VBD VBD
at IN IN
about RB RB
2 CD CD
p.m. NN NN
, , ,
with IN IN
the DT DT
Dow NNP NNP
at IN IN
2600 CD CD
, , ,
up RB RB
31 CD CD
points NNS NNS
on IN IN
the DT DT
day NN NN
. . .
<s>
Charles NNP NNP
Clough NNP NNP
, , ,
a DT DT
strategist NN NN
at IN IN
Merrill NNP NNP
Lynch NNP NNP
, , ,
says VBZ VBZ
bargain NN NN
hunting NN NN
had VBD VBD
explained VBN VBN
the DT DT
Dow NNP NNP
's POS POS
strength NN NN
up IN IN
to TO TO
that DT DT
point NN NN
and CC CC
that IN DT
many JJ JJ
market NN NN
professionals NNS NNS
were VBD VBD
anticipating VBG VBG
a DT DT
drop NN NN
in IN IN
the DT DT
Dow NNP NNP
. . .
<s>
Moreover RB RB
, , ,
the DT DT
announcement NN NN
that IN IN
real JJ JJ
estate NN NN
magnate NN NN
and CC CC
sometime RB JJ
raider NN NN
Donald NNP NNP
Trump NNP NNP
was VBD VBD
withdrawing VBG VBG
his PRP$ PRP$
offer NN NN
for IN IN
AMR NNP NNP
Corp. NNP NNP
might MD MD
have VB VB
been VBN VBN
expected VBN VBN
to TO TO
rattle VB VB
traders NNS NNS
. . .
<s>
Instead RB RB
, , ,
the DT DT
rally NN NN
only RB RB
paused VBD VBD
for IN IN
about IN RB
25 CD CD
minutes NNS NNS
and CC CC
then RB RB
steamed VBD VBD
forward RB RB
as IN IN
institutions NNS NNS
resumed VBD VBD
buying VBG VBG
. . .
<s>
The DT DT
market NN NN
closed VBD VBD
minutes NNS NNS
after IN IN
reaching VBG VBG
its PRP$ PRP$
high NN NN
for IN IN
the DT DT
day NN NN
of IN IN
Across IN IN
the DT DT
country NN NN
, , ,
many JJ JJ
people NNS NNS
took VBD VBD
yesterday NN NN
's POS POS
events NNS NNS
in IN IN
stride NN NN
, , ,
while IN IN
remaining VBG VBG
generally RB RB
uneasy JJ JJ
about IN IN
the DT DT
stock NN NN
market NN NN
in IN IN
general JJ NN
. . .
<s>
Says VBZ VBZ
James NNP NNP
Norman NNP NNP
, , ,
the DT DT
mayor NN NN
of IN IN
Ava NNP NNP
, , ,
Mo. NNP NNP
: : :
`` `` ``
I PRP PRP
do VBP VBP
n't RB RB
invest VB VB
in IN IN
stocks NNS NNS
. . .
<s>
I PRP PRP
much RB RB
prefer VBP VBP
money NN NN
I PRP PRP
can MD MD
put VB VB
my PRP$ PRP$
hands NNS NNS
on IN IN
. . .
<s>
'' '' ''
While IN IN
Mayor NNP NNP
Norman NNP NNP
found VBD VBD
the DT DT
market NN NN
's POS POS
performance NN NN
Monday NNP NNP
reassuring VBG VBG
, , ,
he PRP PRP
says VBZ VBZ
, , ,
he PRP PRP
remains VBZ VBZ
uneasy JJ JJ
. . .
<s>
`` `` ``
We PRP PRP
have VBP VBP
half PDT PDT
the DT DT
experts NNS NNS
saying VBG VBG
one CD CD
thing NN NN
and CC CC
half PDT NN
the DT DT
other JJ JJ
'' '' ''
about IN IN
the DT DT
course NN NN
of IN IN
the DT DT
economy NN NN
. . .
<s>
Ralph NNP NNP
Holzfaster NNP NNP
, , ,
a DT DT
farmer NN NN
and CC CC
farm-supply JJ JJ
store NN NN
operator NN NN
in IN IN
Ogallala NNP NNP
, , ,
Neb. NNP NNP
, , ,
says VBZ VBZ
of IN IN
the DT DT
last JJ JJ
few JJ JJ
days NNS NNS
events NNS NNS
, , ,
`` `` ``
If IN IN
anything NN NN
good RB JJ
comes VBZ VBZ
out IN IN
of IN IN
this DT DT
, , ,
it PRP PRP
might MD MD
be VB VB
that IN IN
it PRP PRP
puts VBZ VBZ
some DT DT
of IN IN
these DT DT
LBOs NNS NNS
on IN IN
the DT DT
skids NNS NNS
. . .
<s>
'' '' ''
Says VBZ VBZ
Gordon NNP NNP
Fines NNP NNP
, , ,
a DT DT
money NN NN
manager NN NN
at IN IN
IDS NNP NNP
Financial NNP NNP
Services NNPS NNP
in IN IN
Minneapolis NNP NNP
, , ,
`` `` ``
You PRP PRP
're VBP VBP
on IN IN
a DT DT
roller NN NN
coaster NN NN
, , ,
and CC CC
that DT DT
may MD MD
last VB VB
. . .
<s>
The DT DT
public NN NN
is VBZ VBZ
still RB RB
cautious JJ JJ
. . .
<s>
Skipper NNP NNP
's POS POS
Inc. NNP NNP
, , ,
Bellevue NNP NNP
, , ,
Wash. NNP NNP
, , ,
said VBD VBD
it PRP PRP
signed VBD VBD
a DT DT
definitive JJ JJ
merger NN NN
agreement NN NN
for IN IN
a DT DT
National NNP NNP
Pizza NNP NNP
Corp. NNP NNP
unit NN NN
to TO TO
acquire VB VB
the DT DT
90.6 CD CD
% NN NN
of IN IN
Skipper NNP NNP
's POS POS
Inc. NNP NNP
it PRP PRP
does VBZ VBZ
n't RB RB
own VB VB
for IN IN
$ $ $
11.50 CD CD
a DT DT
share NN NN
, , ,
or CC CC
about RB RB
$ $ $
28.1 CD CD
million CD CD
. . .
<s>
NP NNP NNP
Acquisition NNP NNP
Co. NNP NNP
, , ,
a DT DT
National NNP NNP
Pizza NNP NNP
unit NN NN
, , ,
plans VBZ VBZ
to TO TO
begin VB VB
a DT DT
tender NN NN
offer NN NN
for IN IN
Skipper NNP NNP
's POS POS
on IN IN
Friday NNP NNP
, , ,
conditioned VBN VBN
on IN IN
at IN IN
least JJS JJS
two-thirds NNS NNS
of IN IN
Skipper NN NNP
's POS POS
shares NNS NNS
being VBG VBG
tendered VBN VBN
. . .
<s>
Pittsburg NNP NNP
, , ,
Kan.-based JJ JJ
National NNP NNP
Pizza NNP NNP
said VBD VBD
the DT DT
transaction NN NN
will MD MD
be VB VB
financed VBN VBN
under IN IN
its PRP$ PRP$
revolving VBG JJ
credit NN NN
agreement NN NN
. . .
<s>
In IN IN
national JJ JJ
over-the-counter JJ JJ
trading NN NN
, , ,
Skipper NNP NNP
's POS POS
shares NNS NNS
rose VBD VBD
50 CD CD
cents NNS NNS
to TO TO
$ $ $
11 CD CD
. . .
<s>
Skipper NNP NNP
's POS POS
said VBD VBD
the DT DT
merger NN NN
will MD MD
help VB VB
finance VB VB
remodeling NN NN
and CC CC
future JJ JJ
growth NN NN
. . .
<s>
Skipper NN NNP
's POS POS
previously RB RB
turned VBD VBD
down RP RP
a DT DT
$ $ $
10-a-share JJ JJ
proposal NN NN
from IN IN
National NNP NNP
Pizza NNP NNP
and CC CC
Pizza NNP NNP
Hut NNP NNP
Inc. NNP NNP
questioned VBD VBD
whether IN IN
the DT DT
purchase NN NN
would MD MD
violate VB VB
National NNP NNP
Pizza NNP NNP
's POS POS
franchise NN NN
agreements NNS NNS
. . .
<s>
National NNP NNP
Pizza NNP NNP
said VBD VBD
it PRP PRP
settled VBD VBD
its PRP$ PRP$
dispute NN NN
with IN IN
Pizza NNP NNP
Hut NNP NNP
, , ,
allowing VBG VBG
it PRP PRP
to TO TO
make VB VB
the DT DT
purchase NN NN
. . .
<s>
Also RB RB
, , ,
Skipper NNP NNP
's POS POS
results NNS NNS
began VBD VBD
to TO TO
turn VB VB
around RP RP
, , ,
permitting VBG VBG
a DT DT
higher JJR JJR
offer NN NN
, , ,
National NNP NNP
Pizza NNP NNP
said VBD VBD
. . .
<s>
For IN IN
the DT DT
12 CD CD
weeks NNS NNS
ended VBN VBN
Sept. NNP NNP
3 CD CD
, , ,
Skipper NNP NNP
's POS POS
had VBD VBD
net JJ JJ
income NN NN
of IN IN
$ $ $
361,000 CD CD
, , ,
or CC CC
13 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
compared VBN VBN
with IN IN
a DT DT
net JJ JJ
loss NN NN
a DT DT
year NN NN
earlier RBR RBR
. . .
<s>
Revenue NN NN
was VBD VBD
$ $ $
19.9 CD CD
million CD CD
. . .
<s>
EAST NNS NNS
GERMANS NNS NNS
RALLIED VBD VBD
as IN IN
officials NNS NNS
reportedly RB RB
sought VBD VBD
Honecker NNP NNP
's POS POS
ouster NN NN
. . .
<s>
In IN IN
what WP WP
was VBD VBD
considered VBN VBN
the DT DT
largest JJS JJS
protest NN NN
in IN IN
the DT DT
Communist JJ JJ
state NN NN
's POS POS
40-year JJ JJ
history NN NN
, , ,
at IN IN
least JJS JJS
120,000 CD CD
demonstrators NNS NNS
marched VBD VBN
through IN IN
the DT DT
southern JJ JJ
city NN NN
of IN IN
Leipzig NNP NNP
to TO TO
press VB VB
demands NNS NNS
for IN IN
democratic JJ JJ
freedoms NNS NNS
, , ,
opposition NN NN
activists NNS NNS
said VBD VBD
. . .
<s>
Police NNS NNS
did VBD VBD
n't RB RB
intervene VB VB
. . .
<s>
Meanwhile RB RB
, , ,
as IN IN
the DT DT
first JJ JJ
of IN IN
more JJR JJR
than IN IN
1,300 CD CD
East NNP NNS
Germans NNPS NNS
trying VBG VBG
to TO TO
flee VB VB
to TO TO
the DT DT
West NNP NNP
through IN IN
Poland NNP NNP
renounced VBD VBD
their PRP$ PRP$
citizenship NN NN
, , ,
a DT DT
West JJ JJ
German JJ JJ
newspaper NN NN
reported VBD VBD
that IN IN
regional JJ JJ
Communist JJ JJ
officials NNS NNS
demanded VBD VBD
the DT DT
dismissal NN NN
of IN IN
hard-line JJ JJ
leader NN NN
Honecker NNP NNP
. . .
<s>
Secretary NNP NNP
of IN IN
State NNP NNP
Baker NNP NNP
, , ,
in IN IN
a DT DT
foreign JJ JJ
policy NN NN
speech NN NN
, , ,
called VBN VBD
for IN IN
the DT DT
reunification NN NN
of IN IN
Germany NNP NNP
, , ,
saying VBG VBG
it PRP PRP
was VBD VBD
the DT DT
`` `` ``
legitimate JJ JJ
right NN NN
'' '' ''
of IN IN
the DT DT
German JJ JJ
people NNS NNS
. . .
<s>
Gorbachev NNP NNP
blamed VBD VBD
the DT DT
Soviet NNP NNP
Union NNP NNP
's POS POS
press NN NN
for IN IN
contributing VBG VBG
to TO TO
the DT DT
nation NN NN
's POS POS
mounting VBG VBG
problems NNS NNS
. . .
<s>
At IN IN
a DT DT
meeting NN NN
Friday NNP NNP
, , ,
the DT DT
Kremlin NNP NNP
leader NN NN
complained VBD VBD
about IN IN
recent JJ JJ
articles NNS NNS
that WDT WDT
raised VBD VBD
the DT DT
possiblity NN NN
of IN IN
civil JJ JJ
unrest NN NN
, , ,
and CC CC
accused VBD VBD
the DT DT
media NNS NNS
of IN IN
fueling VBG VBG
panic NN NN
buying NN VBG
of IN IN
goods NNS NNS
by IN IN
publishing VBG VBG
stories NNS NNS
about IN IN
impending JJ VBG
shortages NNS NNS
. . .
<s>
House-Senate JJ JJ
conferees NNS NNS
approved VBD VBD
a DT DT
permanent JJ JJ
smoking NN NN
ban NN NN
on IN IN
domestic JJ JJ
airline NN NN
routes NNS NNS
within IN IN
the DT DT
continental JJ JJ
U.S. NNP NNP
and CC CC
on IN IN
flights NNS NNS
of IN IN
less JJR JJR
than IN IN
six CD CD
hours NNS NNS
to TO TO
Alaska NNP NNP
and CC CC
Hawaii NNP NNP
. . .
<s>
The DT DT
curbs NNS NNS
would MD MD
cover VB VB
all DT DT
but CC CC
a DT DT
small JJ JJ
percentage NN NN
of IN IN
flights NNS NNS
, , ,
and CC CC
represent VB VB
an DT DT
expansion NN NN
of IN IN
the DT DT
current JJ JJ
ban NN NN
on IN IN
flights NNS NNS
of IN IN
less JJR JJR
than IN IN
two CD CD
hours NNS NNS
. . .
<s>
E. NNP NNP
Robert NNP NNP
Wallach NNP NNP
was VBD VBD
sentenced VBN VBN
by IN IN
a DT DT
U.S. NNP NNP
judge NN NN
in IN IN
New NNP NNP
York NNP NNP
to TO TO
six CD CD
years NNS NNS
in IN IN
prison NN NN
and CC CC
fined VBN VBN
$ $ $
250,000 CD CD
for IN IN
his PRP$ PRP$
racketeering NN NN
conviction NN NN
in IN IN
the DT DT
Wedtech NNP NNP
scandal NN NN
. . .
<s>
Wallach NNP NNP
, , ,
an DT DT
associate NN NN
of IN IN
ex-Attorney JJ NNP
General NNP NNP
Meese NNP NNP
, , ,
was VBD VBD
found VBN VBN
guilty JJ JJ
in IN IN
August NNP NNP
of IN IN
taking VBG VBG
$ $ $
425,000 CD CD
in IN IN
illegal JJ JJ
payoffs NNS NNS
from IN IN
the DT DT
now-defunct JJ JJ
defense NN NN
contractor NN NN
. . .
<s>
NASA NNP NNP
resumed VBD VBD
the DT DT
countdown NN NN
for IN IN
today NN NN
's POS POS
launch NN NN
of IN IN
the DT DT
space NN NN
shuttle NN NN
Atlantis NNP NNP
, , ,
and CC CC
a DT DT
federal JJ JJ
appeals NNS NNS
court NN NN
in IN IN
Washington NNP NNP
dismissed VBD VBD
a DT DT
lawsuit NN NN
by IN IN
anti-nuclear JJ JJ
groups NNS NNS
to TO TO
delay VB VB
the DT DT
flight NN NN
because IN IN
the DT DT
plutonium-powered JJ JJ
Galileo NNP NNP
space NN NN
probe NN NN
was VBD VBD
aboard RB RB
. . .
<s>
The DT DT
space NN NN
agency NN NN
said VBD VBD
it PRP PRP
did VBD VBD
n't RB RB
expect VB VB
weather NN NN
or CC CC
protesters NNS NNS
to TO TO
block VB VB
the DT DT
liftoff NN NN
. . .
<s>
The DT DT
Bush NNP NNP
administration NN NN
is VBZ VBZ
preparing VBG VBG
to TO TO
extend VB VB
a DT DT
ban NN NN
on IN IN
federal JJ JJ
financing NN NN
of IN IN
research NN NN
using VBG VBG
fetal JJ JJ
tissue NN NN
, , ,
government NN NN
sources NNS NNS
said VBD VBD
. . .
<s>
A DT DT
temporary JJ JJ
prohibition NN NN
was VBD VBD
imposed VBN VBN
in IN IN
March NNP NNP
1988 CD CD
. . .
<s>
While IN IN
anti-abortion JJ JJ
groups NNS NNS
are VBP VBP
opposed VBN VBN
to TO TO
such JJ JJ
research NN NN
, , ,
scientists NNS NNS
have VBP VBP
said VBD VBD
transplanting VBG VBG
such JJ JJ
tissue NN NN
could MD MD
be VB VB
effective JJ JJ
in IN IN
treating VBG VBG
diabetes NNP NN
. . .
<s>
Delegates NNPS NNS
from IN IN
91 CD CD
nations NNS NNS
endorsed VBD VBD
a DT DT
ban NN NN
on IN IN
world NN NN
ivory NN NN
trade NN NN
in IN IN
an DT DT
attempt NN NN
to TO TO
rescue VB VB
the DT DT
endangered JJ VBN
elephant NN NN
from IN IN
extinction NN NN
. . .
<s>
Five CD CD
African JJ JJ
nations NNS NNS
, , ,
however RB RB
, , ,
said VBD VBD
they PRP PRP
would MD MD
continue VB VB
selling VBG VBG
the DT DT
valuable JJ JJ
tusks NNS NNS
. . .
<s>
Mubarak NNP NNP
held VBD VBD
reconciliation NN NN
talks NNS NNS
with IN IN
Gadhafi NNP NNP
at IN IN
the DT DT
Egyptian JJ JJ
resort NN NN
of IN IN
Mersa NNP NNP
Metruh NNP NNP
. . .
<s>
It PRP PRP
was VBD VBD
the DT DT
Libyan JJ JJ
leader NN NN
's POS POS
first JJ JJ
trip NN NN
to TO TO
Egypt NNP NNP
in IN IN
16 CD CD
years NNS NNS
. . .
<s>
They PRP PRP
announced VBD VBD
a DT DT
reduction NN NN
in IN IN
formalities NNS NNS
for IN IN
travel NN NN
, , ,
but CC CC
did VBD VBD
n't RB RB
show VB VB
any DT DT
real JJ JJ
signs NNS NNS
of IN IN
resuming VBG VBG
full JJ JJ
diplomatic JJ JJ
ties NNS NNS
. . .
<s>
The DT DT
Egyptian JJ JJ
president NN NN
said VBD VBD
he PRP PRP
would MD MD
visit VB VB
Libya NNP NNP
today NN NN
to TO TO
resume VB VB
the DT DT
talks NNS NNS
. . .
<s>
Seoul NNP NNP
and CC CC
Pyongyang NNP NNP
reached VBD VBD
a DT DT
tentative JJ JJ
agreement NN NN
to TO TO
allow VB VB
visits NNS NNS
between IN IN
families NNS NNS
on IN IN
the DT DT
divided VBN VBN
Korean JJ JJ
peninsula NN NN
. . .
<s>
Such JJ JJ
family NN NN
reunions NNS NNS
would MD MD
be VB VB
the DT DT
second JJ JJ
since IN IN
1945 CD CD
. . .
<s>
Differences NNS NNS
remained VBD VBD
between IN IN
the DT DT
North NNP JJ
and CC CC
South JJ JJ
Korean JJ JJ
governments NNS NNS
, , ,
however RB RB
, , ,
over IN IN
conditions NNS NNS
for IN IN
the DT DT
exchanges NNS NNS
. . .
<s>
Freed NNP VBN
black JJ JJ
nationalists NNS NNS
resumed VBD VBD
political JJ JJ
activity NN NN
in IN IN
South NNP NNP
Africa NNP NNP
and CC CC
vowed VBD VBD
to TO TO
fight VB VB
against IN IN
apartheid NN NN
, , ,
raising VBG VBG
fears NNS NNS
of IN IN
a DT DT
possible JJ JJ
white JJ JJ
backlash NN NN
. . .
<s>
The DT DT
nation NN NN
's POS POS
main JJ JJ
white JJ JJ
opposition NN NN
party NN NN
warned VBD VBD
that IN IN
the DT DT
government NN NN
's POS POS
release NN NN
Sunday NNP NNP
of IN IN
eight CD CD
black JJ JJ
political JJ JJ
prisoners NNS NNS
risked VBD VBD
bringing VBG VBG
chaos NN NN
and CC CC
eventual JJ JJ
black JJ JJ
Marxist JJ JJ
rule NN NN
to TO TO
the DT DT
nation NN NN
. . .
<s>
The DT DT
White NNP NNP
House NNP NNP
said VBD VBD
Bush NNP NNP
is VBZ VBZ
`` `` ``
fully RB RB
satisfied VBN VBN
'' '' ''
with IN IN
CIA NNP NNP
Director NNP NNP
Webster NNP NNP
and CC CC
the DT DT
intelligence NN NN
agency NN NN
's POS POS
performance NN NN
during IN IN
the DT DT
Oct. NNP NNP
3 CD CD
failed VBD VBN
coup NN NN
in IN IN
Panama NNP NNP
. . .
<s>
The DT DT
Washington NNP NNP
Post NNP NNP
reported VBD VBD
that IN IN
unidentified JJ JJ
senior JJ JJ
administration NN NN
officials NNS NNS
were VBD VBD
frustrated VBN VBN
with IN IN
Webster NNP NNP
's POS POS
low-profile JJ JJ
activities NNS NNS
during IN IN
the DT DT
insurrection NN NN
and CC CC
wanted VBD VBD
him PRP PRP
replaced VBD VBN
. . .
<s>
Poland NNP NNP
's POS POS
legislature NN NN
approved VBD VBD
limits NNS NNS
on IN IN
automatic JJ JJ
wage NN NN
increases NNS NNS
without IN IN
special JJ JJ
provisions NNS NNS
for IN IN
food NN NN
price NN NN
rises NNS NNS
. . .
<s>
The DT DT
vote NN NN
was VBD VBD
considered VBN VBN
a DT DT
test NN NN
of IN IN
the DT DT
Solidarity-led JJ JJ
government NN NN
's POS POS
resolve NN NN
to TO TO
proceed VB VB
with IN IN
a DT DT
harsh JJ JJ
economic-restructuring JJ JJ
program NN NN
. . .
<s>
Norway NNP NNP
's POS POS
King NNP NNP
Olav NNP NNP
V NNP NNP
installed VBD VBD
a DT DT
three-party JJ JJ
non-Socialist JJ JJ
government NN NN
as IN IN
Gro NNP NNP
Harlem NNP NNP
Brundtland NNP NNP
's POS POS
three-year-old JJ JJ
Labor NNP NNP
regime NN NN
relinquished VBN VBD
power NN NN
. . .
<s>
The DT DT
19-member JJ JJ
cabinet NN NN
is VBZ VBZ
led VBN VBN
by IN IN
Prime NNP NNP
Minister NNP NNP
Jan NNP NNP
Syse NNP NNP
, , ,
who WP WP
acknowledged VBD VBD
a DT DT
`` `` ``
difficult JJ JJ
situation NN NN
'' '' ''
since IN IN
the DT DT
coalition NN NN
controls VBZ VBZ
only RB RB
62 CD CD
seats NNS NNS
in IN IN
Oslo NNP NN
's POS POS
165-member JJ JJ
legislature NN NN
. . .
<s>
El NNP NNP
Salvador NNP NNP
's POS POS
government NN NN
opened VBD VBD
a DT DT
new JJ JJ
round NN NN
of IN IN
talks NNS NNS
with IN IN
the DT DT
country NN NN
's POS POS
leftist JJ JJ
rebels NNS NNS
in IN IN
an DT DT
effort NN NN
to TO TO
end VB VB
a DT DT
decade-long JJ JJ
civil JJ JJ
war NN NN
. . .
<s>
A DT DT
spokesman NN NN
said VBD VBD
the DT DT
guerrillas NNS NNS
would MD MD
present VB VB
a DT DT
cease-fire NN NN
proposal NN NN
during IN IN
the DT DT
negotiations NNS NNS
in IN IN
Costa NNP NNP
Rica NNP NNP
that WDT WDT
includes VBZ VBZ
constitutional JJ JJ
and CC CC
economic JJ JJ
changes NNS NNS
. . .
<s>
The DT DT
State NNP NNP
Department NNP NNP
said VBD VBD
there EX EX
was VBD VBD
a DT DT
`` `` ``
possibility NN NN
'' '' ''
that IN IN
some DT DT
Nicaraguan JJ JJ
rebels NNS NNS
were VBD VBD
selling VBG VBG
their PRP$ PRP$
U.S.-supplied JJ JJ
arms NNS NNS
to TO TO
Salvadoran JJ JJ
guerrillas NNS NNS
, , ,
but CC CC
insisted VBD VBD
it PRP PRP
was VBD VBD
n't RB RB
an DT DT
organized VBN VBN
effort NN NN
. . .
<s>
Separately RB RB
, , ,
Secretary NNP NNP
of IN IN
State NNP NNP
Baker NNP NNP
complained VBD VBD
about IN IN
a DT DT
U.N. NNP NNP
aide NN NN
who WP WP
last JJ JJ
week NN NN
told VBD VBD
the DT DT
Contras NNPS NNS
to TO TO
disband VB VB
as IN IN
part NN NN
of IN IN
a DT DT
regional JJ JJ
peace NN NN
accord NN NN
. . .
<s>
Died VBN VBN
: : :
Cornel NNP NNP
Wilde NNP NNP
, , ,
74 CD CD
, , ,
actor NN NN
and CC CC
director NN NN
, , ,
in IN IN
Los NNP NNP
Angeles NNP NNP
, , ,
of IN IN
leukemia NN NN
... : :
. . .
<s>
Danilo NNP NNP
Kis NNP NNP
, , ,
54 CD CD
, , ,
Yugoslav-born JJ JJ
novelist NN NN
and CC CC
essayist NN NN
, , ,
Sunday NNP NNP
, , ,
in IN IN
Paris NNP NNP
, , ,
of IN IN
cancer NN NN
. . .
<s>
British JJ JJ
retail JJ JJ
sales NNS NNS
volume NN NN
rose VBD VBD
a DT DT
provisional JJ JJ
0.4 CD CD
% NN NN
in IN IN
September NNP NNP
from IN IN
August NNP NNP
and CC CC
was VBD VBD
up RB RB
2.2 CD CD
% NN NN
from IN IN
September NNP NNP
1988 CD CD
, , ,
the DT DT
Department NNP NNP
of IN IN
Trade NNP NNP
and CC CC
Industry NNP NNP
said VBD VBD
. . .
<s>
For IN IN
the DT DT
three CD CD
months NNS NNS
ended VBN VBN
in IN IN
September NNP NNP
, , ,
retail JJ JJ
sales NNS NNS
volume NN NN
was VBD VBD
down RB RB
0.5 CD CD
% NN NN
from IN IN
the DT DT
previous JJ JJ
three CD CD
months NNS NNS
and CC CC
up RB RB
1.2 CD CD
% NN NN
from IN IN
a DT DT
year NN NN
earlier RBR RBR
. . .
<s>
Chicago NNP NNP
investor NN NN
William NNP NNP
Farley NNP NNP
agreed VBD VBD
to TO TO
sell VB VB
three CD CD
divisions NNS NNS
of IN IN
Cluett NNP NNP
Peabody NNP NNP
& CC CC
Co. NNP NNP
for IN IN
about RB RB
$ $ $
600 CD CD
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to TO TO
Bidermann NNP NNP
S.A. NNP NNP
, , ,
a DT DT
closely RB RB
held VBN VBN
clothing NN NN
maker NN NN
based VBN VBN
in IN IN
Paris NNP NNP
. . .
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Shortly RB RB
after IN IN
completing VBG VBG
the DT DT
$ $ $
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acquisition NN NN
of IN IN
West NNP NNP
Point-Pepperell NNP NNP
Inc. NNP NNP
in IN IN
April NNP NNP
, , ,
Mr. NNP NNP
Farley NNP NNP
's POS POS
holding VBG VBG
company NN NN
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Farley NNP NNP
Inc. NNP NNP
, , ,
said VBD VBD
it PRP PRP
was VBD VBD
considering VBG VBG
the DT DT
sale NN NN
of IN IN
Cluett NNP NNP
, , ,
a DT DT
leading VBG JJ
shirt NN NN
maker NN NN
and CC CC
one CD CD
of IN IN
West NNP NNP
Point-Pepperell NNP NNP
's POS POS
biggest JJS JJS
units NNS NNS
. . .
<s>
Included VBN VBN
in IN IN
the DT DT
sale NN NN
are VBP VBP
Cluett : NNP
units NNS NNS
that WDT WDT
make VBP VBP
men NNS NNS
's POS POS
shirts NNS NNS
under IN IN
the DT DT
Arrow NNP NNP
name NN NN
, , ,
socks NNS NNS
under IN IN
the DT DT
Gold NNP NNP
Toe NNP NNP
name NN NN
and CC CC
menswear NN NN
through IN IN
the DT DT
Schoeneman NNP NNP
division NN NN
. . .
<s>
The DT DT
companies NNS NNS
said VBD VBD
the DT DT
agreement NN NN
is VBZ VBZ
subject JJ JJ
to TO TO
Bidermann NNP NNP
's POS POS
receipt NN NN
of IN IN
financing NN NN
and CC CC
to TO TO
regulatory JJ JJ
and CC CC
other JJ JJ
approvals NNS NNS
. . .
<s>
They PRP PRP
said VBD VBD
the DT DT
sale NN NN
is VBZ VBZ
expected VBN VBN
to TO TO
be VB VB
concluded VBN VBN
by IN IN
the DT DT
end NN NN
of IN IN
November NNP NNP
. . .
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Mr. NNP NNP
Farley NNP NNP
said VBD VBD
the DT DT
sale NN NN
of IN IN
three CD CD
of IN IN
Cluett NNP NNP
's POS POS
four CD CD
main JJ JJ
divisions NNS NNS
plus CC CC
other JJ JJ
`` `` ``
anticipated VBN VBN
'' '' ''
West NNP NNP
Point-Pepperell NNP NNP
asset NN NN
sales NNS NNS
by IN IN
December NNP NNP
, , ,
should MD MD
bring VB VB
in RP RP
a DT DT
total NN NN
of IN IN
about IN RB
$ $ $
700 CD CD
million CD CD
. . .
<s>
He PRP PRP
did VBD VBD
n't RB RB
elaborate VB VB
on IN IN
other JJ JJ
asset NN NN
sales NNS NNS
being VBG VBG
considered VBN VBN
. . .
<s>
Mr. NNP NNP
Farley NNP NNP
followed VBD VBD
a DT DT
similar JJ JJ
pattern NN NN
when WRB WRB
he PRP PRP
acquired VBD VBD
Northwest NNP NNP
Industries NNPS NNP
Inc. NNP NNP
and CC CC
then RB RB
sold VBD VBN
much JJ JJ
of IN IN
its PRP$ PRP$
assets NNS NNS
. . .
<s>
But CC CC
he PRP PRP
kept VBD VBD
Fruit NNP NNP
of IN IN
the DT DT
Loom NNP NNP
Inc. NNP NNP
, , ,
the DT DT
underwear NN NN
maker NN NN
that IN IN
he PRP PRP
still RB RB
controls VBZ VBZ
and CC CC
serves VBZ VBZ
as IN IN
chairman NN NN
and CC CC
chief JJ JJ
executive NN NN
. . .
<s>
Cluett NNP NNP
was VBD VBD
an DT DT
independent JJ JJ
company NN NN
until IN IN
West NNP NNP
Point-Pepperell NNP NNP
acquired VBD VBD
it PRP PRP
for IN IN
$ $ $
375 CD CD
million CD CD
in IN IN
cash NN NN
and CC CC
stock NN NN
in IN IN
1986 CD CD
. . .
<s>
In IN IN
the DT DT
fiscal JJ JJ
year NN NN
ended VBN VBN
Sept. NNP NNP
30 CD CD
, , ,
1988 CD CD
, , ,
Cluett NNP NNP
had VBD VBD
operating NN NN
profit NN NN
of IN IN
$ $ $
37 CD CD
million CD CD
on IN IN
sales NNS NNS
of IN IN
$ $ $
757 CD CD
million CD CD
. . .
<s>
Bidermann NNP NNP
sells VBZ VBZ
clothes NNS NNS
under IN IN
various JJ JJ
labels NNS NNS
, , ,
including VBG VBG
Yves NNP NNP
Saint NNP NNP
Laurent NNP NNP
and CC CC
Bill NNP NNP
Robinson NNP NNP
for IN IN
men NNS NNS
and CC CC
Ralph NNP NNP
Lauren NNP NNP
for IN IN
women NNS NNS
. . .
<s>
A DT DT
spokesman NN NN
said VBD VBD
the DT DT
company NN NN
had VBD VBD
sales NNS NNS
of IN IN
$ $ $
400 CD CD
million CD CD
in IN IN
1988 CD CD
. . .
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In IN IN
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
composite JJ JJ
trading NN NN
, , ,
West NNP NNP
Point-Pepperell NNP NNP
fell VBD VBD
25 CD CD
cents NNS NNS
to TO TO
$ $ $
53.875 CD CD
. . .
<s>
Britain NNP NNP
's POS POS
Blue NNP NNP
Arrow NNP NNP
PLC NNP NNP
intends VBZ VBZ
to TO TO
change VB VB
its PRP$ PRP$
name NN NN
to TO TO
Manpower NNP NNP
PLC NNP NNP
and CC CC
write VB VB
off RP RP
a DT DT
chunk NN NN
of IN IN
the DT DT
nearly RB RB
$ $ $
1.2 CD CD
billion CD CD
in IN IN
good JJ JJ
will NN NN
realized VBN VBN
in IN IN
the DT DT
takeover NN NN
of IN IN
U.S.-based JJ JJ
Manpower NNP NNP
Inc NNP NNP
. . .
<s>
Blue NNP NNP
Arrow NNP NNP
Chairman NNP NNP
Mitchell NNP NNP
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said VBD VBD
in IN IN
an DT DT
interview NN NN
that IN IN
the DT DT
two CD CD
steps NNS NNS
may MD MD
be VB VB
a DT DT
prelude NN NN
to TO TO
reincorporating VBG VBG
the DT DT
world NN NN
's POS POS
biggest JJS JJS
employment-services NNS JJ
group NN NN
in IN IN
the DT DT
U.S. NNP NNP
. . .
<s>
Mr. NNP NNP
Fromstein NNP NNP
disclosed VBD VBD
the DT DT
planned VBN VBN
steps NNS NNS
, , ,
expected VBN VBN
within IN IN
a DT DT
few JJ JJ
months NNS NNS
, , ,
as IN IN
Blue NNP NNP
Arrow NNP NNP
posted VBD VBD
a DT DT
2.5 CD CD
% NN NN
drop NN NN
in IN IN
its PRP$ PRP$
third-quarter JJ JJ
pretax JJ JJ
earnings NNS NNS
. . .
<s>
The DT DT
name NN NN
change NN NN
and CC CC
good JJ JJ
will NN NN
write-off NN NN
could MD MD
help VB VB
solidify VB VB
Blue NNP NNP
Arrow NNP NNP
's POS POS
dominance NN NN
of IN IN
the DT DT
U.S. NNP NNP
temporary-help JJ JJ
market NN NN
and CC CC
give VB VB
it PRP PRP
a DT DT
more RBR RBR
American JJ JJ
image NN NN
as IN IN
U.S. NNP NNP
investors NNS NNS
turn VBP VBP
jittery JJ JJ
about IN IN
foreign JJ JJ
stocks NNS NNS
after IN IN
Friday NNP NNP
's POS POS
market NN NN
plunge NN NN
. . .
<s>
U.S. NNP NNP
holders NNS NNS
now RB RB
own VBP VBP
more JJR JJR
than IN IN
60 CD CD
% NN NN
of IN IN
Blue NNP NNP
Arrow NNP NNP
compared VBN VBN
with IN IN
9 CD CD
% NN NN
last JJ JJ
January NNP NNP
. . .
<s>
`` `` ``
In IN IN
the DT DT
U.S. NNP NNP
market NN NN
, , ,
the DT DT
recognition NN NN
of IN IN
the DT DT
Manpower NNP NNP
name NN NN
is VBZ VBZ
infinitely RB RB
stronger JJR JJR
than IN IN
Blue NNP NNP
Arrow NNP NNP
, , ,
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Mr. NNP NNP
Fromstein NNP NNP
said VBD VBD
. . .
<s>
The DT DT
moves NNS NNS
also RB RB
could MD MD
erase VB VB
shareholders NNS NNS
' POS POS
perception NN NN
of IN IN
Blue NNP NNP
Arrow NNP NNP
as IN IN
a DT DT
company NN NN
in IN IN
turmoil NN NN
. . .
<s>
`` `` ``
It PRP PRP
further RB RBR
reinforces VBZ VBZ
the DT DT
concept NN NN
that IN IN
Blue NNP NNP
Arrow NNP NNP
is VBZ VBZ
a DT DT
thing NN NN
of IN IN
the DT DT
past NN NN
, , ,
'' '' ''
said VBD VBD
Doug NNP NNP
Arthur NNP NNP
, , ,
an DT DT
analyst NN NN
at IN IN
Kidder NNP NNP
Peabody NNP NNP
& CC CC
Co. NNP NNP
in IN IN
New NNP NNP
York NNP NNP
. . .
<s>
The DT DT
proposed VBN VBN
changes NNS NNS
`` `` ``
all DT DT
make VBP VBP
a DT DT
lot NN NN
of IN IN
sense NN NN
to TO TO
me PRP PRP
, , ,
'' '' ''
he PRP PRP
added VBD VBD
. . .
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In IN IN
a DT DT
widely RB RB
publicized VBN VBN
boardroom NN NN
coup NN NN
, , ,
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ousted VBD VBD
Antony NNP NNP
Berry NNP NNP
as IN IN
Blue NNP NNP
Arrow NNP NNP
chief JJ JJ
executive NN NN
in IN IN
January NNP NNP
, , ,
a DT DT
month NN NN
after IN IN
Mr. NNP NNP
Berry NNP NNP
had VBD VBD
forced VBN VBN
Mr. NNP NNP
Fromstein NNP NNP
out RP RB
as IN IN
the DT DT
$ $ $
1 CD CD
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chief NN NN
of IN IN
Milwaukee-based JJ JJ
Manpower : NNP
. . .
<s>
Mr. NNP NNP
Fromstein NNP NNP
solidified VBD VBD
his PRP$ PRP$
control NN NN
in IN IN
April NNP NNP
by IN IN
taking VBG VBG
over RP RP
from IN IN
Mr. NNP NNP
Berry NNP NNP
as IN IN
chairman NN NN
. . .
<s>
But CC CC
the DT DT
Blue NNP NNP
Arrow NNP NNP
tumult NN NN
is VBZ VBZ
n't RB RB
over IN RB
yet RB RB
, , ,
as IN IN
the DT DT
British JJ JJ
government NN NN
is VBZ VBZ
investigating VBG VBG
a DT DT
disputed VBN VBN
# # #
25 CD CD
million CD CD
( ( (
$ $ $
39.4 CD CD
million CD CD
) ) )
loan NN NN
which WDT WDT
Mr. NNP NNP
Fromstein NNP NNP
has VBZ VBZ
said VBN VBD
was VBD VBD
made VBN VBN
under IN IN
Mr. NNP NNP
Berry NNP NNP
's POS POS
direction NN NN
. . .
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Blue NNP NNP
Arrow NNP NNP
was VBD VBD
able JJ JJ
to TO TO
pull VB VB
off RP RP
the DT DT
$ $ $
1.34 CD CD
billion CD CD
takeover NN NN
of IN IN
Manpower NNP NNP
in IN IN
1987 CD CD
largely RB RB
because IN IN
different JJ JJ
British JJ JJ
and CC CC
American JJ JJ
accounting NN NN
standards NNS NNS
produce VBP VBP
higher JJR JJR
reported VBD VBN
earnings NNS NNS
for IN IN
British JJ JJ
companies NNS NNS
. . .
<s>
Under IN IN
British JJ JJ
rules NNS NNS
, , ,
Blue NNP NNP
Arrow NNP NNP
was VBD VBD
able JJ JJ
to TO TO
write VB VB
off RP RP
at IN IN
once RB RB
the DT DT
$ $ $
1.15 CD CD
billion CD CD
in IN IN
good JJ JJ
will NN NN
arising VBG VBG
from IN IN
the DT DT
purchase NN NN
. . .
<s>
As IN IN
a DT DT
U.S.-based JJ JJ
company NN NN
, , ,
Blue NNP NNP
Arrow NNP NNP
would MD MD
have VB VB
to TO TO
amortize VB VB
the DT DT
good JJ JJ
will NN NN
over IN IN
as RB RB
many JJ JJ
as IN IN
40 CD CD
years NNS NNS
, , ,
creating VBG VBG
a DT DT
continuing VBG VBG
drag NN NN
on IN IN
reported VBN VBN
earnings NNS NNS
. . .
<s>
Good NNP JJ
will MD NN
is VBZ VBZ
the DT DT
excess NN NN
of IN IN
cost NN NN
of IN IN
an DT DT
acquired VBN VBN
firm NN NN
, , ,
operating VBG VBG
unit NN NN
or CC CC
assets NNS NNS
over IN IN
the DT DT
current JJ JJ
or CC CC
fair JJ JJ
market NN NN
value NN NN
of IN IN
those DT DT
assets NNS NNS
. . .
<s>
But CC CC
with IN IN
so RB RB
many JJ JJ
shares NNS NNS
now RB RB
held VBN VBN
in IN IN
the DT DT
U.S. NNP NNP
, , ,
Blue NNP NNP
Arrow NNP NNP
reports VBZ VBZ
its PRP$ PRP$
earnings NNS NNS
two CD CD
ways NNS NNS
, , ,
based VBN VBN
on IN IN
both DT DT
U.K. NNP NNP
and CC CC
U.S. NNP NNP
accounting NN NN
standards NNS NNS
. . .
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`` `` ``
Our PRP$ PRP$
balance NN NN
sheets NNS NNS
look VBP VBP
like IN IN
they PRP PRP
came VBD VBD
from IN IN
Alice NNP NNP
's POS POS
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said VBD VBD
. . .
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The DT DT
British JJ JJ
version NN NN
shows VBZ VBZ
`` `` ``
a DT DT
handful NN NN
of IN IN
pounds NNS NNS
of IN IN
net JJ JJ
worth NN NN
'' '' ''
following VBG VBG
the DT DT
1987 CD CD
write-off NN NN
of IN IN
good JJ JJ
will NN NN
, , ,
while IN IN
the DT DT
American JJ JJ
version NN NN
reflects VBZ VBZ
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$ $ $
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of IN IN
net JJ JJ
worth NN NN
because IN IN
almost RB RB
none NN NN
of IN IN
( ( (
the DT DT
good NN NN
will NN NN
) ) )
has VBZ VBZ
been VBN VBN
written VBN VBN
off RP RP
. . .
<s>
'' '' ''
Mr. NNP NNP
Fromstein NNP NNP
said VBD VBD
he PRP PRP
hopes VBZ VBZ
to TO TO
eradicate VB VB
some DT DT
of IN IN
the DT DT
good NN JJ
will MD NN
left VBN VBN
on IN IN
Blue NNP NNP
Arrow NNP NNP
's POS POS
U.S. NNP NNP
books NNS NNS
in IN IN
one CD CD
fell VBD JJ
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, , ,
but CC CC
would MD MD
n't RB RB
specify VB VB
how WRB WRB
much JJ RB
. . .
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People NNS NNS
close RB JJ
to TO TO
Blue NNP NNP
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suggested VBD VBD
the DT DT
write-down NN NN
would MD MD
represent VB VB
a DT DT
sizable JJ JJ
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, , ,
with IN IN
executives NNS NNS
claiming VBG VBG
prior JJ JJ
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overstated VBN VBD
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extent NN NN
of IN IN
Manpower NNP NNP
's POS POS
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will NN NN
. . .
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That DT DT
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, , ,
along IN IN
with IN IN
the DT DT
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to TO TO
the DT DT
Manpower NNP NNP
name NN NN
, , ,
could MD MD
bolster VB VB
the DT DT
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's POS POS
prospects NNS NNS
during IN IN
possibly RB RB
difficult JJ JJ
times NNS NNS
for IN IN
temporary JJ JJ
help NN NN
. . .
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The DT DT
number NN NN
of IN IN
U.S. NNP NNP
temporary JJ JJ
workers NNS NNS
fell VBD VBD
about IN RB
1 CD CD
% NN NN
in IN IN
the DT DT
12 CD CD
months NNS NNS
ending VBG VBG
Aug. NNP NNP
31 CD CD
, , ,
after IN IN
sliding VBG VBG
nearly RB RB
3.5 CD CD
% NN NN
in IN IN
July NNP NNP
, , ,
said VBD VBD
Kidder NNP NNP
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's POS POS
Mr. NNP NNP
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. . .
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Blue NNP NNP
Arrow NNP NNP
blamed VBD VBD
the DT DT
pretax JJ JJ
profit NN NN
drop NN NN
in IN IN
the DT DT
quarter NN NN
ended VBN VBN
July NNP NNP
31 CD CD
partly RB RB
on IN IN
slower JJR JJR
earnings NNS NNS
growth NN NN
of IN IN
non-Manpower JJ JJ
units NNS NNS
in IN IN
Britain NNP NNP
. . .
<s>
Overall RB RB
, , ,
pretax JJ JJ
profit NN NN
slid VBD VBD
to TO TO
# # #
18.49 CD CD
million CD CD
in IN IN
the DT DT
quarter NN NN
from IN IN
# # #
18.98 CD CD
million CD CD
a DT DT
year NN NN
earlier RBR RBR
. . .
<s>
Richard NNP NNP
G. NNP NNP
Sim NNP NNP
, , ,
the DT DT
man NN NN
credited VBN VBN
with IN IN
transforming VBG VBG
Applied NNP NNP
Power NNP NNP
Inc. NNP NNP
from IN IN
an DT DT
underachiever NN NN
into IN IN
a DT DT
feisty JJ JJ
player NN NN
in IN IN
the DT DT
global JJ JJ
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for IN IN
hydraulic JJ JJ
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, , ,
hopes VBZ VBZ
to TO TO
guide VB VB
a DT DT
similar JJ JJ
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at IN IN
the DT DT
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's POS POS
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acquisition NN NN
, , ,
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. . .
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The DT DT
45-year-old JJ JJ
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General NNP NNP
Electric NNP NNP
Co. NNP NNP
executive NN NN
figures NNS VBZ
it PRP PRP
will MD MD
be VB VB
easier JJR JJR
this DT DT
time NN NN
. . .
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But CC CC
analysts NNS NNS
, , ,
while IN IN
applauding VBG VBG
the DT DT
acquisition NN NN
, , ,
say VBP VBP
Applied NNP NNP
's POS POS
chief JJ JJ
executive NN NN
faces VBZ VBZ
a DT DT
tough JJ JJ
challenge NN NN
in IN IN
integrating VBG VBG
the DT DT
two CD CD
companies NNS NNS
. . .
<s>
Barry NNP NNP
Wright NNP NNP
, , ,
acquired VBN VBN
by IN IN
Applied NNP NNP
for IN IN
$ $ $
147 CD CD
million CD CD
, , ,
makes VBZ VBZ
computer-room JJ JJ
equipment NN NN
and CC CC
vibration-control NN JJ
systems NNS NNS
. . .
<s>
The DT DT
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, , ,
Mass. NNP NNP
, , ,
company NN NN
's POS POS
sales NNS NNS
have VBP VBP
been VBN VBN
dormant JJ JJ
and CC CC
its PRP$ PRP$
profits NNS NNS
have VBP VBP
dropped VBN VBN
. . .
<s>
Last JJ JJ
year NN NN
's POS POS
earnings NNS NNS
of IN IN
$ $ $
1.3 CD CD
million CD CD
, , ,
including VBG VBG
$ $ $
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from IN IN
a DT DT
restructuring NN NN
gain NN NN
, , ,
were VBD VBD
far RB RB
below IN IN
the DT DT
year-earlier JJ JJ
$ $ $
8.4 CD CD
million CD CD
. . .
<s>
Besides IN IN
spurring VBG VBG
Barry NNP NNP
Wright NNP NNP
's POS POS
sales NNS NNS
, , ,
which WDT WDT
were VBD VBD
$ $ $
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million CD CD
in IN IN
1988 CD CD
, , ,
Mr. NNP NNP
Sim NNP NNP
must MD MD
pare VB VB
its PRP$ PRP$
costs NNS NNS
and CC CC
product NN NN
line NN NN
. . .
<s>
`` `` ``
The DT DT
question NN NN
is VBZ VBZ
how WRB WRB
long JJ JJ
it PRP PRP
's VBZ VBZ
going VBG VBG
to TO TO
take VB VB
Barry NNP NNP
Wright NNP NNP
to TO TO
make VB VB
a DT DT
contribution NN NN
, , ,
'' '' ''
says VBZ VBZ
F. NNP NNP
John NNP NNP
Mirek NNP NNP
, , ,
an DT DT
analyst NN NN
at IN IN
Blunt NNP NNP
Ellis NNP NNP
Loewi NNP NNP
in IN IN
Milwaukee NNP NNP
. . .
<s>
The DT DT
answer NN NN
will MD MD
help VB VB
determine VB VB
whether IN IN
Applied NNP VBN
continues VBZ VBZ
to TO TO
reach VB VB
the DT DT
ambitious JJ JJ
goals NNS NNS
set VBN VBN
by IN IN
Mr. NNP NNP
Sim NNP NNP
. . .
<s>
The DT DT
Butler NNP NNP
, , ,
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, , ,
manufacturer NN NN
went VBD VBD
public JJ JJ
at IN IN
$ $ $
15.75 CD CD
a DT DT
share NN NN
in IN IN
August NNP NNP
1987 CD CD
, , ,
and CC CC
Mr. NNP NNP
Sim NNP NNP
's POS POS
goal NN NN
then RB RB
was VBD VBD
a DT DT
$ $ $
29 CD CD
per-share JJ JJ
price NN NN
by IN IN
1992 CD CD
. . .
<s>
Strong JJ JJ
earnings NNS NNS
growth NN NN
helped VBD VBD
achieve VB VB
that DT DT
price NN NN
far RB RB
ahead RB RB
of IN IN
schedule NN NN
, , ,
in IN IN
August NNP NNP
1988 CD CD
. . .
<s>
The DT DT
stock NN NN
has VBZ VBZ
since IN IN
softened JJ VBN
, , ,
trading VBG VBG
around IN RB
$ $ $
25 CD CD
a DT DT
share NN NN
last JJ JJ
week NN NN
and CC CC
closing VBG VBG
yesterday NN NN
at IN IN
$ $ $
23.00 CD CD
in IN IN
national JJ JJ
over-the-counter JJ JJ
trading NN NN
. . .
<s>
But CC CC
Mr. NNP NNP
Sim NNP NNP
has VBZ VBZ
set VBN VBN
a DT DT
fresh JJ JJ
target NN NN
of IN IN
$ $ $
50 CD CD
a DT DT
share NN NN
by IN IN
the DT DT
end NN NN
of IN IN
Reaching VBG VBG
that DT DT
goal NN NN
, , ,
says VBZ VBZ
Robert NNP NNP
T. NNP NNP
Foote NNP NNP
, , ,
Applied NNP NNP
's POS POS
chief JJ JJ
financial JJ JJ
officer NN NN
, , ,
will MD MD
require VB VB
`` `` ``
efficient JJ JJ
reinvestment NN NN
'' '' ''
of IN IN
cash NN NN
by IN IN
Applied NNP NNP
and CC CC
continuation NN NN
of IN IN
its PRP$ PRP$
healthy JJ JJ
19 CD CD
% NN NN
rate NN NN
of IN IN
return NN NN
on IN IN
operating VBG NN
capital NN NN
. . .
<s>
In IN IN
Barry NNP NNP
Wright NNP NNP
, , ,
Mr. NNP NNP
Sim NNP NNP
sees VBZ VBZ
a DT DT
situation NN NN
`` `` ``
very RB RB
similar JJ JJ
'' '' ''
to TO TO
the DT DT
one CD CD
he PRP PRP
faced VBD VBD
when WRB WRB
he PRP PRP
joined VBD VBD
Applied NNP NNP
as IN IN
president NN NN
and CC CC
chief NN NN
operating VBG VBG
officer NN NN
in IN IN
1985 CD CD
. . .
<s>
Applied NNP NNP
, , ,
then RB RB
a DT DT
closely RB RB
held VBN VBN
company NN NN
, , ,
was VBD VBD
stagnating VBG VBG
under IN IN
the DT DT
management NN NN
of IN IN
its PRP$ PRP$
controlling VBG VBG
family NN NN
. . .
<s>
While IN IN
profitable JJ JJ
, , ,
it PRP PRP
`` `` ``
was VBD VBD
n't RB RB
growing VBG VBG
and CC CC
was VBD VBD
n't RB RB
providing VBG VBG
a DT DT
satisfactory JJ JJ
return NN NN
on IN IN
invested VBN VBN
capital NN NN
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
Mr. NNP NNP
Sim NNP NNP
is VBZ VBZ
confident JJ JJ
that IN IN
the DT DT
drive NN NN
to TO TO
dominate VB VB
certain JJ JJ
niche NN NN
markets NNS NNS
will MD MD
work VB VB
at IN IN
Barry NNP NNP
Wright NNP NNP
as IN IN
it PRP PRP
has VBZ VBZ
at IN IN
Applied NNP NNP
. . .
<s>
He PRP PRP
also RB RB
professes VBZ VBZ
an DT DT
`` `` ``
evangelical JJ JJ
'' '' ''
fervor NN NN
to TO TO
develop VB VB
a DT DT
corporate JJ JJ
culture NN NN
that WDT WDT
rewards VBZ VBZ
managers NNS NNS
who WP WP
produce VBP VBP
and CC CC
where WRB WRB
decision-making NN NN
is VBZ VBZ
shared VBN VBN
. . .
<s>
Mr. NNP NNP
Sim NNP NNP
considers VBZ VBZ
the DT DT
new JJ JJ
unit NN NN
's POS POS
operations NNS NNS
`` `` ``
fundamentally RB RB
sound JJ JJ
'' '' ''
and CC CC
adds VBZ VBZ
that IN IN
Barry NNP NNP
Wright NNP NNP
has VBZ VBZ
been VBN VBN
fairly RB RB
successful JJ JJ
in IN IN
moving VBG VBG
into IN IN
markets NNS NNS
that WDT WDT
have VBP VBP
n't RB RB
interested VBN VBN
larger JJR JJR
competitors NNS NNS
. . .
<s>
`` `` ``
With IN IN
a DT DT
little JJ JJ
patience NN NN
, , ,
these DT DT
businesses NNS NNS
will MD MD
perform VB VB
very RB RB
satisfactorily RB RB
, , ,
'' '' ''
Mr. NNP NNP
Sim NNP NNP
says VBZ VBZ
. . .
<s>
Within IN IN
about IN RB
six CD CD
months NNS NNS
, , ,
`` `` ``
things NNS NNS
will MD MD
be VB VB
moving VBG VBG
in IN IN
the DT DT
right JJ JJ
direction NN NN
, , ,
'' '' ''
he PRP PRP
predicts VBZ VBZ
. . .
<s>
Mr. NNP NNP
Sim NNP NNP
figures VBZ VBZ
it PRP PRP
will MD MD
be VB VB
easier JJR JJR
to TO TO
turn VB VB
Barry NNP NNP
Wright NNP NNP
around IN IN
since IN IN
he PRP PRP
's VBZ VBZ
now RB RB
in IN IN
the DT DT
driver NN NN
's POS POS
seat NN NN
. . .
<s>
When WRB WRB
he PRP PRP
came VBD VBD
to TO TO
Applied NNP NNP
, , ,
`` `` ``
I PRP PRP
did VBD VBD
n't RB RB
have VB VB
the DT DT
power NN NN
to TO TO
execute VB VB
as IN IN
I PRP PRP
do VBP VBP
today NN NN
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
He PRP PRP
was VBD VBD
named VBN VBN
chief JJ JJ
executive JJ JJ
officer NN NN
of IN IN
Applied NNP NNP
in IN IN
1986 CD CD
and CC CC
became VBD VBD
chairman NN NN
last JJ JJ
November NNP NNP
. . .
<s>
At IN IN
Applied NNP NNP
, , ,
Mr. NNP NNP
Sim NNP NNP
set VBD VBD
growth NN NN
as IN IN
his PRP$ PRP$
first JJ JJ
objective NN NN
. . .
<s>
He PRP PRP
took VBD VBD
the DT DT
company NN NN
public NN NN
in IN IN
an DT DT
offering NN NN
that IN WDT
netted : VBD
Applied NNP NNP
about IN RB
$ $ $
12.6 CD CD
million CD CD
, , ,
which WDT WDT
helped VBD VBD
launch VB VB
the DT DT
company NN NN
's POS POS
acquisition NN NN
program NN NN
. . .
<s>
Sales NNS NNS
climbed VBD VBD
to TO TO
an DT DT
estimated VBN VBN
$ $ $
245 CD CD
million CD CD
in IN IN
fiscal JJ JJ
1989 CD CD
, , ,
ended VBN VBN
Aug. NNP NNP
31 CD CD
, , ,
from IN IN
$ $ $
99.9 CD CD
million CD CD
in IN IN
fiscal JJ JJ
1985 CD CD
. . .
<s>
The DT DT
company NN NN
expects VBZ VBZ
that DT IN
earnings NNS NNS
, , ,
which WDT WDT
have VBP VBP
marched VBD VBN
steadily RB RB
upward RB RB
in IN IN
recent JJ JJ
years NNS NNS
, , ,
reached VBD VBD
about IN RB
$ $ $
20.8 CD CD
million CD CD
, , ,
or CC CC
$ $ $
1.58 CD CD
a DT DT
share NN NN
, , ,
in IN IN
the DT DT
fiscal JJ JJ
year NN NN
just RB RB
ended VBD VBD
, , ,
up RB RB
from IN IN
$ $ $
15.2 CD CD
million CD CD
in IN IN
fiscal JJ JJ
1988 CD CD
and CC CC
$ $ $
3.9 CD CD
million CD CD
in IN IN
1985 CD CD
. . .
<s>
No RB RB
, , ,
it PRP PRP
was VBD VBD
n't RB RB
Black NNP NNP
Monday NNP NNP
. . .
<s>
But CC CC
while IN IN
the DT DT
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
did VBD VBD
n't RB RB
fall VB VB
apart RB RB
Friday NNP NNP
as IN IN
the DT DT
Dow NNP NNP
Jones NNP NNP
Industrial NNP NNP
Average NNP NNP
plunged VBD VBD
190.58 CD CD
points NNS NNS
-- : :
most JJS JJS
of IN IN
it PRP PRP
in IN IN
the DT DT
final JJ JJ
hour NN NN
-- : :
it PRP PRP
barely RB RB
managed VBD VBD
to TO TO
stay VB VB
this DT DT
side NN NN
of IN IN
chaos NN NN
. . .
<s>
Some DT DT
`` `` ``
circuit NN NN
breakers NNS NNS
'' '' ''
installed VBN VBN
after IN IN
the DT DT
October NNP NNP
1987 CD CD
crash NN NN
failed VBD VBD
their PRP$ PRP$
first JJ JJ
test NN NN
, , ,
traders NNS NNS
say VBP VBP
, , ,
unable JJ JJ
to TO TO
cool VB VB
the DT DT
selling NN NN
panic NN NN
in IN IN
both DT DT
stocks NNS NNS
and CC CC
futures NNS NNS
. . .
<s>
The DT DT
49 CD CD
stock NN NN
specialist NN NN
firms NNS NNS
on IN IN
the DT DT
Big NNP NNP
Board NNP NNP
floor NN NN
-- : :
the DT DT
buyers NNS NNS
and CC CC
sellers NNS NNS
of IN IN
last JJ JJ
resort NN NN
who WP WP
were VBD VBD
criticized VBN VBN
after IN IN
the DT DT
1987 CD CD
crash NN NN
-- : :
once RB RB
again RB RB
could MD MD
n't RB RB
handle VB VB
the DT DT
selling NN NN
pressure NN NN
. . .
<s>
Big JJ JJ
investment NN NN
banks NNS NNS
refused VBD VBD
to TO TO
step VB VB
up RP IN
to TO TO
the DT DT
plate NN NN
to TO TO
support VB VB
the DT DT
beleaguered VBN JJ
floor NN NN
traders NNS NNS
by IN IN
buying VBG VBG
big JJ JJ
blocks NNS NNS
of IN IN
stock NN NN
, , ,
traders NNS NNS
say VBP VBP
. . .
<s>
Heavy JJ JJ
selling NN NN
of IN IN
Standard NNP NNP
& CC CC
Poor NNP NNP
's POS POS
500-stock JJ JJ
index NN NN
futures NNS NNS
in IN IN
Chicago NNP NNP
relentlessly RB RB
beat VBD VBD
stocks NNS NNS
downward RB RB
. . .
<s>
Seven CD CD
Big NNP NNP
Board NNP NNP
stocks NNS NNS
-- : :
UAL NNP NNP
, , ,
AMR NNP NNP
, , ,
BankAmerica NNP NNP
, , ,
Walt NNP NNP
Disney NNP NNP
, , ,
Capital NNP NNP
Cities\/ABC NNP NNP
, , ,
Philip NNP NNP
Morris NNP NNP
and CC CC
Pacific NNP NNP
Telesis NNP NNP
Group NNP NNP
-- : :
stopped VBD VBD
trading NN VBG
and CC CC
never RB RB
resumed VBD VBD
. . .
<s>
The DT DT
finger-pointing JJ NN
has VBZ VBZ
already RB RB
begun VBN VBN
. . .
<s>
`` `` ``
The DT DT
equity NN NN
market NN NN
was VBD VBD
illiquid JJ JJ
. . .
<s>
Once RB RB
again RB RB
( ( (
the DT DT
specialists NNS NNS
) ) )
were VBD VBD
not RB RB
able JJ JJ
to TO TO
handle VB VB
the DT DT
imbalances NNS NNS
on IN IN
the DT DT
floor NN NN
of IN IN
the DT DT
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
, , ,
'' '' ''
said VBD VBD
Christopher NNP NNP
Pedersen NNP NNP
, , ,
senior JJ JJ
vice NN NN
president NN NN
at IN IN
Twenty-First NNP NNP
Securities NNPS NNP
Corp NNP NNP
. . .
<s>
Countered : VBD
James NNP NNP
Maguire NNP NNP
, , ,
chairman NN NN
of IN IN
specialists NNS NNS
Henderson NNP NNP
Brothers NNPS NNP
Inc. NNP NNP
: : :
`` `` ``
It PRP PRP
is VBZ VBZ
easy JJ JJ
to TO TO
say VB VB
the DT DT
specialist NN NN
is VBZ VBZ
n't RB RB
doing VBG VBG
his PRP$ PRP$
job NN NN
. . .
<s>
When WRB WRB
the DT DT
dollar NN NN
is VBZ VBZ
in IN IN
a DT DT
free-fall JJ NN
, , ,
even RB RB
central JJ JJ
banks NNS NNS
ca MD MD
n't RB RB
stop VB VB
it PRP PRP
. . .
<s>
Speculators NNS NNS
are VBP VBP
calling VBG VBG
for IN IN
a DT DT
degree NN NN
of IN IN
liquidity NN NN
that WDT WDT
is VBZ VBZ
not RB RB
there RB RB
in IN IN
the DT DT
market NN NN
. . .
<s>
'' '' ''
Many JJ JJ
money NN NN
managers NNS NNS
and CC CC
some DT DT
traders NNS NNS
had VBD VBD
already RB RB
left VBN VBN
their PRP$ PRP$
offices NNS NNS
early RB RB
Friday NNP NNP
afternoon NN NN
on IN IN
a DT DT
warm JJ JJ
autumn NN NN
day NN NN
-- : :
because IN IN
the DT DT
stock NN NN
market NN NN
was VBD VBD
so RB RB
quiet JJ JJ
. . .
<s>
Then RB RB
in IN IN
a DT DT
lightning NN NN
plunge NN NN
, , ,
the DT DT
Dow NNP NNP
Jones NNP NNP
industrials NNS NNS
in IN IN
barely RB RB
an DT DT
hour NN NN
surrendered VBD VBD
about IN RB
a DT DT
third JJ JJ
of IN IN
their PRP$ PRP$
gains NNS NNS
this DT DT
year NN NN
, , ,
chalking VBG VBG
up RP RP
a DT DT
190.58-point JJ JJ
, , ,
or CC CC
6.9 CD CD
% NN NN
, , ,
loss NN NN
on IN IN
the DT DT
day NN NN
in IN IN
gargantuan JJ JJ
trading NN NN
volume NN NN
. . .
<s>
Final-hour : JJ
trading NN NN
accelerated VBD VBD
to TO TO
108.1 CD CD
million CD CD
shares NNS NNS
, , ,
a DT DT
record NN NN
for IN IN
the DT DT
Big NNP NNP
Board NNP NNP
. . .
<s>
At IN IN
the DT DT
end NN NN
of IN IN
the DT DT
day NN NN
, , ,
251.2 CD CD
million CD CD
shares NNS NNS
were VBD VBD
traded VBN VBN
. . .
<s>
The DT DT
Dow NNP NNP
Jones NNP NNP
industrials NNS NNS
closed VBD VBD
at IN IN
2569.26 CD CD
. . .
<s>
The DT DT
Dow NNP NNP
's POS POS
decline NN NN
was VBD VBD
second JJ JJ
in IN IN
point NN NN
terms NNS NNS
only RB RB
to TO TO
the DT DT
508-point JJ JJ
Black NNP NNP
Monday NNP NNP
crash NN NN
that WDT WDT
occurred VBD VBD
Oct. NNP NNP
19 CD CD
, , ,
1987 CD CD
. . .
<s>
In IN IN
percentage NN NN
terms NNS NNS
, , ,
however RB RB
, , ,
the DT DT
Dow NNP NNP
's POS POS
dive NN NN
was VBD VBD
the DT DT
12th-worst JJ JJ
ever RB RB
and CC CC
the DT DT
sharpest JJS JJS
since IN IN
the DT DT
market NN NN
fell VBD VBD
156.83 CD CD
, , ,
or CC CC
8 CD CD
% NN NN
, , ,
a DT DT
week NN NN
after IN IN
Black NNP NNP
Monday NNP NNP
. . .
<s>
The DT DT
Dow NNP NNP
fell VBD VBD
22.6 CD CD
% NN NN
on IN IN
Black NNP NNP
Monday NNP NNP
. . .
<s>
Shares NNS NNP
of IN IN
UAL NNP NNP
, , ,
the DT DT
parent NN NN
of IN IN
United NNP NNP
Airlines NNPS NNP
, , ,
were VBD VBD
extremely RB RB
active JJ JJ
all DT DT
day NN NN
Friday NNP NNP
, , ,
reacting VBG VBG
to TO TO
news NN NN
and CC CC
rumors NNS NNS
about IN IN
the DT DT
proposed VBN VBN
$ $ $
6.79 CD CD
billion CD CD
buy-out NN NN
of IN IN
the DT DT
airline NN NN
by IN IN
an DT DT
employee-management NN JJ
group NN NN
. . .
<s>
Wall NNP NNP
Street NNP NNP
's POS POS
takeover-stock JJ JJ
speculators NNS NNS
, , ,
or CC CC
`` `` ``
risk NN NN
arbitragers NNS NNS
, , ,
'' '' ''
had VBD VBD
placed VBN VBN
unusually RB RB
large JJ JJ
bets NNS NNS
that IN IN
a DT DT
takeover NN NN
would MD MD
succeed VB VB
and CC CC
UAL NNP NNP
stock NN NN
would MD MD
rise VB VB
. . .
<s>
At IN IN
2:43 CD CD
p.m. RB RB
EDT NNP NNP
, , ,
came VBD VBD
the DT DT
sickening : JJ
news NN NN
: : :
The DT DT
Big NNP NNP
Board NNP NNP
was VBD VBD
halting VBG VBG
trading NN VBG
in IN IN
UAL NNP NNP
, , ,
`` `` ``
pending VBG VBG
news NN NN
. . .
<s>
'' '' ''
On IN IN
the DT DT
exchange NN NN
floor NN NN
, , ,
`` `` ``
as RB RB
soon RB RB
as IN IN
UAL NNP NNP
stopped VBD VBD
trading NN VBG
, , ,
we PRP PRP
braced VBN VBD
for IN IN
a DT DT
panic NN NN
, , ,
'' '' ''
said VBD VBD
one CD CD
top JJ JJ
floor NN NN
trader NN NN
. . .
<s>
Several JJ JJ
traders NNS NNS
could MD MD
be VB VB
seen VBN VBN
shaking VBG VBG
their PRP$ PRP$
heads NNS NNS
when WRB WRB
the DT DT
news NN NN
flashed VBD VBD
. . .
<s>
For IN IN
weeks NNS NNS
, , ,
the DT DT
market NN NN
had VBD VBD
been VBN VBN
nervous JJ JJ
about IN IN
takeovers NNS NNS
, , ,
after IN IN
Campeau NNP NNP
Corp. NNP NNP
's POS POS
cash NN NN
crunch NN NN
spurred VBD VBD
concern NN NN
about IN IN
the DT DT
prospects NNS NNS
for IN IN
future JJ JJ
highly RB RB
leveraged JJ JJ
takeovers NNS NNS
. . .
<s>
And CC CC
10 CD CD
minutes NNS NNS
after IN IN
the DT DT
UAL NNP NNP
trading NN NN
halt NN NN
came VBD VBD
news NN NN
that IN IN
the DT DT
UAL NNP NNP
group NN NN
could MD MD
n't RB RB
get VB VB
financing NN NN
for IN IN
its PRP$ PRP$
bid NN NN
. . .
<s>
At IN IN
this DT DT
point NN NN
, , ,
the DT DT
Dow NNP NNP
was VBD VBD
down RB RB
about IN RB
35 CD CD
points NNS NNS
. . .
<s>
The DT DT
market NN NN
crumbled VBD VBD
. . .
<s>
Arbitragers NNS NNS
could MD MD
n't RB RB
dump VB VB
their PRP$ PRP$
UAL NNP NNP
stock NN NN
-- : :
but CC CC
they PRP PRP
rid JJ VBD
themselves PRP PRP
of IN IN
nearly RB RB
every DT DT
`` `` ``
rumor NN NN
'' '' ''
stock NN NN
they PRP PRP
had VBD VBD
. . .
<s>
For IN IN
example NN NN
, , ,
their PRP$ PRP$
selling NN NN
caused VBD VBD
trading NN NN
halts NNS NNS
to TO TO
be VB VB
declared VBN VBN
in IN IN
USAir NNP NNP
Group NNP NNP
, , ,
which WDT WDT
closed VBD VBD
down RB RB
3 CD CD
7\/8 CD CD
to TO TO
41 CD CD
1\/2 CD CD
, , ,
Delta NNP NNP
Air NNP NNP
Lines NNPS NNP
, , ,
which WDT WDT
fell VBD VBD
7 CD CD
3\/4 CD CD
to TO TO
69 CD CD
1\/4 CD CD
, , ,
and CC CC
Philips NNP NNP
Industries NNPS NNP
, , ,
which WDT WDT
sank VBD VBD
3 CD CD
to TO TO
21 CD CD
1\/2 CD CD
. . .
<s>
These DT DT
stocks NNS NNS
eventually RB RB
reopened VBD VBD
. . .
<s>
But CC CC
as IN IN
panic NN NN
spread NN VBD
, , ,
speculators NNS NNS
began VBD VBD
to TO TO
sell VB VB
blue-chip JJ JJ
stocks NNS NNS
such JJ JJ
as IN IN
Philip NNP NNP
Morris NNP NNP
and CC CC
International NNP NNP
Business NNP NNP
Machines NNP NNP
to TO TO
offset VB VB
their PRP$ PRP$
losses NNS NNS
. . .
<s>
When WRB WRB
trading NN NN
was VBD VBD
halted VBN VBN
in IN IN
Philip NNP NNP
Morris NNP NNP
, , ,
the DT DT
stock NN NN
was VBD VBD
trading VBG VBG
at IN IN
41 CD CD
, , ,
down RB RB
3 CD CD
3\/8 CD CD
, , ,
while IN IN
IBM NNP NNP
closed VBD VBD
5 CD CD
5\/8 CD CD
lower JJR JJR
at IN IN
102 CD CD
. . .
<s>
Selling NNP NN
snowballed VBD VBD
because IN IN
of IN IN
waves NNS NNS
of IN IN
automatic JJ JJ
`` `` ``
stop-loss NN JJ
'' '' ''
orders NNS NNS
, , ,
which WDT WDT
are VBP VBP
triggered VBN VBN
by IN IN
computer NN NN
when WRB WRB
prices NNS NNS
fall VBP VBP
to TO TO
certain JJ JJ
levels NNS NNS
. . .
<s>
Most JJS JJS
of IN IN
the DT DT
stock NN NN
selling NN NN
pressure NN NN
came VBD VBD
from IN IN
Wall NNP NNP
Street NNP NNP
professionals NNS NNS
, , ,
including VBG VBG
computer-guided JJ JJ
program NN NN
traders NNS NNS
. . .
<s>
Traders NNS NNS
said VBD VBD
most JJS JJS
of IN IN
their PRP$ PRP$
major JJ JJ
institutional JJ JJ
investors NNS NNS
, , ,
on IN IN
the DT DT
other JJ JJ
hand NN NN
, , ,
sat VBD VBD
tight JJ RB
. . .
<s>
Now RB RB
, , ,
at IN IN
3:07 CD CD
, , ,
one CD CD
of IN IN
the DT DT
market NN NN
's POS POS
post-crash JJ JJ
`` `` ``
reforms NNS NNS
'' '' ''
took VBD VBD
hold NN NN
as IN IN
the DT DT
S&P NNP NNP
500 CD CD
futures NNS NNS
contract NN NN
had VBD VBD
plunged VBN VBN
12 CD CD
points NNS NNS
, , ,
equivalent JJ JJ
to TO TO
around IN IN
a DT DT
100-point JJ JJ
drop NN NN
in IN IN
the DT DT
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the DT DT
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. . .
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group NN NN
is VBZ VBZ
led VBN VBN
by IN IN
Jay NNP NNP
Shidler NNP NNP
, , ,
chief JJ JJ
executive JJ JJ
officer NN NN
of IN IN
Shidler NNP NNP
Investment NNP NNP
Corp. NNP NNP
in IN IN
Honolulu NNP NNP
, , ,
and CC CC
A. NNP NNP
Boyd NNP NNP
Simpson NNP NNP
, , ,
chief JJ JJ
executive NN NN
of IN IN
the DT DT
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Simpson NNP NNP
Organization NNP NNP
Inc NNP NNP
. . .
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Shidler NNP NNP
's POS POS
company NN NN
specializes VBZ VBZ
in IN IN
commercial JJ JJ
real-estate NN NN
investment NN NN
and CC CC
claims NNS VBZ
to TO TO
have VB VB
$ $ $
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in IN IN
assets NNS NNS
; : :
Mr. NNP NNP
Simpson NNP NNP
is VBZ VBZ
a DT DT
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and CC CC
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of IN IN
L.J. NNP NNP
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. . .
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`` `` ``
The DT DT
assets NNS NNS
are VBP VBP
good JJ JJ
, , ,
but CC CC
they PRP PRP
require VBP VBP
more JJR JJR
money NN NN
and CC CC
management NN NN
'' '' ''
than IN IN
can MD MD
be VB VB
provided VBN VBN
in IN IN
L.J. NNP NNP
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's POS POS
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, , ,
said VBD VBD
Mr. NNP NNP
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in IN IN
an DT DT
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. . .
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`` `` ``
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's POS POS
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was VBD VBD
to TO TO
build VB VB
and CC CC
sell VB VB
. . .
<s>
We PRP PRP
want VBP VBP
to TO TO
build VB VB
and CC CC
hold VB VB
. . .
<s>
'' '' ''
L.J. NNP NNP
Hooker NNP NNP
, , ,
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in IN IN
Atlanta NNP NNP
, , ,
is VBZ VBZ
operating VBG VBG
with IN IN
protection NN NN
from IN IN
its PRP$ PRP$
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under IN IN
Chapter NN NNP
11 CD CD
of IN IN
the DT DT
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Code NNP NNP
. . .
<s>
Its PRP$ PRP$
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company NN NN
, , ,
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Corp. NNP NNP
of IN IN
Sydney NNP NNP
, , ,
Australia NNP NNP
, , ,
is VBZ VBZ
currently RB RB
being VBG VBG
managed VBN VBN
by IN IN
a DT DT
court-appointed JJ JJ
provisional JJ JJ
liquidator NN NN
. . .
<s>
Sanford NNP NNP
Sigoloff NNP NNP
, , ,
chief JJ JJ
executive NN NN
of IN IN
L.J. NNP NNP
Hooker NNP NNP
, , ,
said VBD VBD
yesterday NN NN
in IN IN
a DT DT
statement NN NN
that IN IN
he PRP PRP
has VBZ VBZ
not RB RB
yet RB RB
seen VBN VBN
the DT DT
bid NN NN
but CC CC
that IN IN
he PRP PRP
would MD MD
review VB VB
it PRP PRP
and CC CC
bring VB VB
it PRP PRP
to TO TO
the DT DT
attention NN NN
of IN IN
the DT DT
creditors NNS NNS
committee NN NN
. . .
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The DT DT
$ $ $
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bid NN NN
is VBZ VBZ
estimated VBN VBN
by IN IN
Mr. NNP NNP
Simpson NNP NNP
as IN IN
representing VBG VBG
75 CD CD
% NN NN
of IN IN
the DT DT
value NN NN
of IN IN
all DT DT
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holdings NNS NNS
in IN IN
the DT DT
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. . .
<s>
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included VBN VBN
in IN IN
the DT DT
bid NN NN
are VBP VBP
Bonwit NNP NNP
Teller NNP NNP
or CC CC
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& CC CC
Co. NNP NNP
, , ,
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's POS POS
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chains NNS NNS
. . .
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covers VBZ VBZ
the DT DT
massive JJ JJ
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Forest NNP NNP
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in IN IN
Cincinnati NNP NNP
, , ,
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800,000 CD CD
square-foot JJ JJ
Richland NNP NNP
Fashion NNP NNP
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in IN IN
Columbia NNP NNP
, , ,
S.C. NNP NNP
, , ,
and CC CC
the DT DT
700,000 CD CD
square-foot JJ JJ
Thornton NNP NNP
Town NNP NNP
Center NNP NNP
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in IN IN
Thornton NNP NNP
, , ,
Colo NNP NNP
. . .
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The DT DT
Thornton NNP NNP
mall NN NN
opened VBD VBD
Sept. NNP NNP
19 CD CD
with IN IN
a DT DT
Bigg NNP NNP
's POS POS
hypermarket NN NN
as IN IN
its PRP$ PRP$
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; : :
the DT DT
Columbia NNP NNP
mall NN NN
is VBZ VBZ
expected VBN VBN
to TO TO
open VB VB
Nov. NNP NNP
15 CD CD
. . .
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Hooker NNP NNP
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are VBP VBP
a DT DT
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in IN IN
midtown JJ JJ
Atlanta NNP NNP
, , ,
expected VBN VBN
to TO TO
be VB VB
completed VBN VBN
next JJ IN
February NNP NNP
; : :
vacant JJ JJ
land NN NN
sites NNS NNS
in IN IN
Florida NNP NNP
and CC CC
Ohio NNP NNP
; : :
L.J. NNP NNP
Hooker NNP NNP
International NNP NNP
, , ,
the DT DT
commercial JJ JJ
real-estate NN NN
brokerage NN NN
company NN NN
that IN WDT
once RB RB
did VBD VBD
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as IN IN
Merrill NNP NNP
Lynch NNP NNP
Commercial NNP NNP
Real NNP NNP
Estate NNP NNP
, , ,
plus CC CC
other JJ JJ
shopping NN NN
centers NNS NNS
. . .
<s>
The DT DT
consortium NN NN
was VBD VBD
put VBN VBN
together RB RB
by IN IN
Hoare NNP NNP
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, , ,
the DT DT
London-based JJ JJ
investment NN NN
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that WDT WDT
is VBZ VBZ
a DT DT
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of IN IN
Security NNP NNP
Pacific NNP NNP
Corp NNP NNP
. . .
<s>
`` `` ``
We PRP PRP
do VBP VBP
n't RB RB
anticipate VB VB
any DT DT
problems NNS NNS
in IN IN
raising VBG VBG
the DT DT
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for IN IN
the DT DT
bid NN NN
, , ,
'' '' ''
said VBD VBD
Allan NNP NNP
Campbell NNP NNP
, , ,
the DT DT
head NN NN
of IN IN
mergers NNS NNS
and CC CC
acquisitions NNS NNS
at IN IN
Hoare NNP NNP
Govett NNP NNP
, , ,
in IN IN
an DT DT
interview NN NN
. . .
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Govett NNP NNP
is VBZ VBZ
acting VBG VBG
as IN IN
the DT DT
consortium NN NN
's POS POS
investment NN NN
bankers NNS NNS
. . .
<s>
According VBG VBG
to TO TO
people NNS NNS
familiar JJ JJ
with IN IN
the DT DT
consortium NN NN
, , ,
the DT DT
bid NN NN
was VBD VBD
code-named NNP JJ
Project NNP NNP
Klute NNP NNP
, , ,
a DT DT
reference NN NN
to TO TO
the DT DT
film NN NN
`` `` ``
Klute NNP NNP
'' '' ''
in IN IN
which WDT WDT
a DT DT
prostitute NN NN
played VBN VBN
by IN IN
actress NN NN
Jane NNP NNP
Fonda NNP NNP
is VBZ VBZ
saved VBN VBN
from IN IN
a DT DT
psychotic JJ JJ
businessman NN NN
by IN IN
a DT DT
police NN NN
officer NN NN
named VBN VBN
John NNP NNP
Klute NNP NNP
. . .
<s>
L.J. NNP NNP
Hooker NNP NNP
was VBD VBD
a DT DT
small JJ JJ
home-building JJ JJ
company NN NN
based VBN VBN
in IN IN
Atlanta NNP NNP
in IN IN
1979 CD CD
when WRB WRB
Mr. NNP NNP
Simpson NNP NNP
was VBD VBD
hired VBN VBN
to TO TO
push VB VB
it PRP PRP
into IN IN
commercial JJ JJ
development NN NN
. . .
<s>
The DT DT
company NN NN
grew VBD VBD
modestly RB RB
until IN IN
1986 CD CD
, , ,
when WRB WRB
a DT DT
majority NN NN
position NN NN
in IN IN
Hooker NNP NNP
Corp. NNP NNP
was VBD VBD
acquired VBN VBN
by IN IN
Australian JJ JJ
developer NN NN
George NNP NNP
Herscu NNP NNP
, , ,
currently RB RB
Hooker NNP NNP
's POS POS
chairman NN NN
. . .
<s>
Mr. NNP NNP
Herscu NNP NNP
proceeded VBD VBD
to TO TO
launch VB VB
an DT DT
ambitious JJ JJ
, , ,
but CC CC
ill-fated JJ JJ
, , ,
$ $ $
1 CD CD
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acquisition NN NN
binge NN NN
that WDT WDT
included VBD VBD
Bonwit NNP NNP
Teller NNP NNP
and CC CC
B. NNP NNP
Altman NNP NNP
& CC CC
Co. NNP NNP
, , ,
as RB RB
well RB RB
as IN IN
majority NN NN
positions NNS NNS
in IN IN
Merksamer NNP NNP
Jewelers NNPS NNP
, , ,
a DT DT
Sacramento NNP NNP
chain NN NN
; : :
Sakowitz NNP NNP
Inc. NNP NNP
, , ,
the DT DT
Houston-based JJ JJ
retailer NN NN
, , ,
and CC CC
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Inc. NNP NNP
, , ,
the DT DT
Southeast JJ NNP
department-store NN NN
chain NN NN
. . .
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Eventually RB RB
Mr. NNP NNP
Simpson NNP NNP
and CC CC
Mr. NNP NNP
Herscu NNP NNP
had VBD VBD
a DT DT
falling VBG NN
out RP RP
over IN IN
the DT DT
direction NN NN
of IN IN
the DT DT
company NN NN
, , ,
and CC CC
Mr. NNP NNP
Simpson NNP NNP
said VBD VBD
he PRP PRP
resigned VBD VBD
in IN IN
1988 CD CD
. . .
<s>
Since IN IN
then RB RB
, , ,
Hooker NNP NNP
Corp. NNP NNP
has VBZ VBZ
sold VBN VBN
its PRP$ PRP$
interest NN NN
in IN IN
the DT DT
Parisian JJ JJ
chain NN NN
back RB RB
to TO TO
Parisian : JJ
's POS POS
management NN NN
and CC CC
is VBZ VBZ
currently RB RB
attempting VBG VBG
to TO TO
sell VB VB
the DT DT
B. NNP NNP
Altman NNP NNP
& CC CC
Co. NNP NNP
chain NN NN
. . .
<s>
In IN IN
addition NN NN
, , ,
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Sakowitz NNP NNP
, , ,
chief JJ JJ
executive NN NN
of IN IN
the DT DT
Sakowitz NNP NNP
chain NN NN
, , ,
is VBZ VBZ
seeking VBG VBG
funds NNS NNS
to TO TO
buy VB VB
out RP RP
the DT DT
Hooker NNP NNP
interest NN NN
in IN IN
his PRP$ PRP$
company NN NN
. . .
<s>
The DT DT
Merksamer NNP NNP
chain NN NN
is VBZ VBZ
currently RB RB
being VBG VBG
offered VBN VBN
for IN IN
sale NN NN
by IN IN
First NNP NNP
Boston NNP NNP
Corp NNP NNP
. . .
<s>
Reached VBN VBN
in IN IN
Honolulu NNP NNP
, , ,
Mr. NNP NNP
Shidler NNP NNP
said VBD VBD
that IN IN
he PRP PRP
believes VBZ VBZ
the DT DT
various JJ JJ
Hooker NNP NNP
malls NNS NNS
can MD MD
become VB VB
profitable JJ JJ
with IN IN
new JJ JJ
management NN NN
. . .
<s>
`` `` ``
These DT DT
are VBP VBP
n't RB RB
mature JJ JJ
assets NNS NNS
, , ,
but CC CC
they PRP PRP
have VBP VBP
the DT DT
potential NN NN
to TO TO
be VB VB
so RB RB
, , ,
'' '' ''
said VBD VBD
Mr. NNP NNP
Shidler NNP NNP
. . .
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`` `` ``
Managed : VBN
properly RB RB
, , ,
and CC CC
with IN IN
a DT DT
long-term JJ JJ
outlook NN NN
, , ,
these DT DT
can MD MD
become VB VB
investment-grade JJ JJ
quality NN NN
properties NNS NNS
. . .
<s>
Canadian JJ JJ
steel-ingot NN NN
production NN NN
totaled VBD VBD
291,890 CD CD
metric JJ JJ
tons NNS NNS
in IN IN
the DT DT
week NN NN
ended VBN VBN
Oct. NNP NNP
7 CD CD
, , ,
up RB RB
14.8 CD CD
% NN NN
from IN IN
the DT DT
preceding VBG JJ
week NN NN
's POS POS
total NN NN
of IN IN
254,280 CD CD
tons NNS NNS
, , ,
Statistics NNPS NNP
Canada NNP NNP
, , ,
a DT DT
federal JJ JJ
agency NN NN
, , ,
said VBD VBD
. . .
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The DT DT
week NN NN
's POS POS
total NN NN
was VBD VBD
up RB RB
6.2 CD CD
% NN NN
from IN IN
274,963 CD CD
tons NNS NNS
a DT DT
year NN NN
earlier RBR RBR
. . .
<s>
The DT DT
year-to-date JJ JJ
total NN NN
was VBD VBD
12,006,883 CD CD
tons NNS NNS
, , ,
up RB RB
7.8 CD CD
% NN NN
from IN IN
11,141,711 CD CD
tons NNS NNS
a DT DT
year NN NN
earlier RBR RBR
. . .
<s>
The DT DT
Treasury NNP NNP
plans VBZ NNS
to TO TO
raise VB VB
$ $ $
175 CD CD
million CD CD
in IN IN
new JJ JJ
cash NN NN
Thursday NNP NNP
by IN IN
selling VBG VBG
about IN RB
$ $ $
9.75 CD CD
billion CD CD
of IN IN
52-week JJ JJ
bills NNS NNS
and CC CC
redeeming VBG VBG
$ $ $
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billion CD CD
of IN IN
maturing VBG VBG
bills NNS NNS
. . .
<s>
The DT DT
bills NNS NNS
will MD MD
be VB VB
dated VBN VBN
Oct. NNP NNP
26 CD CD
and CC CC
will MD MD
mature VB VB
Oct. NNP NNP
25 CD CD
, , ,
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. . .
<s>
They PRP PRP
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be VB VB
available JJ JJ
in IN IN
minimum JJ JJ
denominations NNS NNS
of IN IN
$ $ $
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. . .
<s>
Bids NNS NNS
must MD MD
be VB VB
received VBN VBN
by IN IN
1 CD CD
p.m. RB RB
EDT NNP NNP
Thursday NNP NNP
at IN IN
the DT DT
Treasury NNP NNP
or CC CC
at IN IN
Federal NNP NNP
Reserve NNP NNP
banks NNS NNS
or CC CC
branches NNS NNS
. . .
<s>
As IN IN
small JJ JJ
investors NNS NNS
peppered VBD VBD
their PRP$ PRP$
mutual JJ JJ
funds NNS NNS
with IN IN
phone NN NN
calls NNS NNS
over IN IN
the DT DT
weekend NN NN
, , ,
big JJ JJ
fund NN NN
managers NNS NNS
said VBD VBD
they PRP PRP
have VBP VBP
a DT DT
strong JJ JJ
defense NN NN
against IN IN
any DT DT
wave NN NN
of IN IN
withdrawals NNS NNS
: : :
cash NN NN
. . .
<s>
Unlike IN IN
the DT DT
weekend NN NN
before IN IN
Black NNP NNP
Monday NNP NNP
, , ,
the DT DT
funds NNS NNS
were VBD VBD
n't RB RB
swamped VBN VBN
with IN IN
heavy JJ JJ
withdrawal NN NN
requests NNS NNS
. . .
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And CC CC
many JJ JJ
fund NN NN
managers NNS NNS
have VBP VBP
built VBN VBN
up RP RP
cash NN NN
levels NNS NNS
and CC CC
say VB VBP
they PRP PRP
will MD MD
be VB VB
buying VBG VBG
stock NN NN
this DT DT
week NN NN
. . .
<s>
At IN IN
Fidelity NNP NNP
Investments NNPS NNP
, , ,
the DT DT
nation NN NN
's POS POS
largest JJS JJS
fund NN NN
company NN NN
, , ,
telephone NN NN
volume NN NN
was VBD VBD
up RB RB
sharply RB RB
, , ,
but CC CC
it PRP PRP
was VBD VBD
still RB RB
at IN IN
just RB RB
half PDT PDT
the DT DT
level NN NN
of IN IN
the DT DT
weekend NN NN
preceding VBG VBG
Black NNP NNP
Monday NNP NNP
in IN IN
1987 CD CD
. . .
<s>
The DT DT
Boston NNP NNP
firm NN NN
said VBD VBD
stock-fund NN NN
redemptions NNS NNS
were VBD VBD
running VBG VBG
at IN IN
less JJR JJR
than IN IN
one-third RB NN
the DT DT
level NN NN
two CD CD
years NNS NNS
ago RB RB
. . .
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As IN IN
of IN IN
yesterday NN NN
afternoon NN NN
, , ,
the DT DT
redemptions NNS NNS
represented VBD VBD
less JJR JJR
than IN IN
15 CD CD
% NN NN
of IN IN
the DT DT
total JJ JJ
cash NN NN
position NN NN
of IN IN
about IN RB
$ $ $
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of IN IN
Fidelity NNP NNP
's POS POS
stock NN NN
funds NNS NNS
. . .
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`` `` ``
Two CD CD
years NNS NNS
ago RB RB
there EX EX
were VBD VBD
massive JJ JJ
redemption NN NN
levels NNS NNS
over IN IN
the DT DT
weekend NN NN
and CC CC
a DT DT
lot NN NN
of IN IN
fear NN NN
around IN RB
, , ,
'' '' ''
said VBD VBD
C. NNP NNP
Bruce NNP NNP
Johnstone NNP NNP
, , ,
who WP WP
runs VBZ VBZ
Fidelity NNP NNP
Investments NNP NNP
' POS POS
$ $ $
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Equity-Income NNP NNP
Fund NNP NNP
. . .
<s>
`` `` ``
This DT DT
feels VBZ VBZ
more RBR RBR
like IN IN
a DT DT
one-shot JJ JJ
deal NN NN
. . .
<s>
People NNS NNS
are VBP VBP
n't RB RB
panicking VBG VBG
. . .
<s>
'' '' ''
The DT DT
test NN NN
may MD MD
come VB VB
today NN NN
. . .
<s>
Friday NNP NNP
's POS POS
stock NN NN
market NN NN
sell-off NN NN
came VBD VBD
too RB RB
late JJ RB
for IN IN
many JJ JJ
investors NNS NNS
to TO TO
act VB VB
. . .
<s>
Some DT DT
shareholders NNS NNS
have VBP VBP
held VBN VBN
off RP RP
until IN IN
today NN NN
because IN IN
any DT DT
fund NN NN
exchanges NNS NNS
made VBN VBN
after IN IN
Friday NNP NNP
's POS POS
close NN NN
would MD MD
take VB VB
place NN NN
at IN IN
today NN NN
's POS POS
closing NN NN
prices NNS NNS
. . .
<s>
Stock NN NN
fund NN NN
redemptions NNS NNS
during IN IN
the DT DT
1987 CD CD
debacle NN NN
did VBD VBD
n't RB RB
begin VB VB
to TO TO
snowball VB VB
until IN IN
after IN IN
the DT DT
market NN NN
opened VBD VBD
on IN IN
Black NNP NNP
Monday NNP NNP
. . .
<s>
But CC CC
fund NN NN
managers NNS NNS
say VBP VBP
they PRP PRP
're VBP VBP
ready JJ JJ
. . .
<s>
Many JJ JJ
have VBP VBP
raised VBN VBN
cash NN NN
levels NNS NNS
, , ,
which WDT WDT
act VBP VBP
as IN IN
a DT DT
buffer NN NN
against IN IN
steep JJ JJ
market NN NN
declines VBZ NNS
. . .
<s>
Mario NNP NNP
Gabelli NNP NNP
, , ,
for IN IN
instance NN NN
, , ,
holds VBZ VBZ
cash NN NN
positions NNS NNS
well RB RB
above IN IN
20 CD CD
% NN NN
in IN IN
several JJ JJ
of IN IN
his PRP$ PRP$
funds NNS NNS
. . .
<s>
Windsor NNP NNP
Fund NNP NNP
's POS POS
John NNP NNP
Neff NNP NNP
and CC CC
Mutual NNP NNP
Series NNP NNP
' POS POS
Michael NNP NNP
Price NNP NNP
said VBD VBD
they PRP PRP
had VBD VBD
raised VBN VBN
their PRP$ PRP$
cash NN NN
levels NNS NNS
to TO TO
more JJR JJR
than IN IN
20 CD CD
% NN NN
and CC CC
30 CD CD
% NN NN
, , ,
respectively RB RB
, , ,
this DT DT
year NN NN
. . .
<s>
Even RB RB
Peter NNP NNP
Lynch NNP NNP
, , ,
manager NN NN
of IN IN
Fidelity NNP NNP
's POS POS
$ $ $
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billion CD CD
Magellan NNP NNP
Fund NNP NNP
, , ,
the DT DT
nation NN NN
's POS POS
largest JJS JJS
stock NN NN
fund NN NN
, , ,
built VBN VBD
up RP RP
cash NN NN
to TO TO
7 CD CD
% NN NN
or CC CC
$ $ $
850 CD CD
million CD CD
. . .
<s>
One CD CD
reason NN NN
is VBZ VBZ
that IN DT
after IN IN
two CD CD
years NNS NNS
of IN IN
monthly JJ JJ
net JJ JJ
redemptions NNS NNS
, , ,
the DT DT
fund NN NN
posted VBD VBD
net JJ JJ
inflows NNS NNS
of IN IN
money NN NN
from IN IN
investors NNS NNS
in IN IN
August NNP NNP
and CC CC
September NNP NNP
. . .
<s>
`` `` ``
I PRP PRP
've VBP VBP
let VBN VBD
the DT DT
money NN NN
build VB VB
up RP RP
, , ,
'' '' ''
Mr. NNP NNP
Lynch NNP NNP
said VBD VBD
, , ,
who WP WP
added VBD VBD
that IN IN
he PRP PRP
has VBZ VBZ
had VBN VBN
trouble NN NN
finding VBG VBG
stocks NNS NNS
he PRP PRP
likes VBZ VBZ
. . .
<s>
Not RB RB
all DT DT
funds NNS NNS
have VBP VBP
raised VBN VBN
cash NN NN
levels NNS NNS
, , ,
of IN IN
course NN NN
. . .
<s>
As IN IN
a DT DT
group NN NN
, , ,
stock NN NN
funds NNS NNS
held VBD VBD
10.2 CD CD
% NN NN
of IN IN
assets NNS NNS
in IN IN
cash NN NN
as IN IN
of IN IN
August NNP NNP
, , ,
the DT DT
latest JJS JJS
figures NNS NNS
available JJ JJ
from IN IN
the DT DT
Investment NNP NNP
Company NNP NNP
Institute NNP NNP
. . .
<s>
That DT DT
was VBD VBD
modestly RB RB
higher JJR JJR
than IN IN
the DT DT
8.8 CD CD
% NN NN
and CC CC
9.2 CD CD
% NN JJ
levels NNS NNS
in IN IN
August NNP NNP
and CC CC
September NNP NNP
of IN IN
1987 CD CD
. . .
<s>
Also RB RB
, , ,
persistent JJ JJ
redemptions NNS NNS
would MD MD
force VB VB
some DT DT
fund NN NN
managers NNS NNS
to TO TO
dump VB VB
stocks NNS NNS
to TO TO
raise VB VB
cash NN NN
. . .
<s>
But CC CC
a DT DT
strong JJ JJ
level NN NN
of IN IN
investor NN NN
withdrawals NNS NNS
is VBZ VBZ
much RB RB
more RBR RBR
unlikely JJ JJ
this DT DT
time NN NN
around RP RB
, , ,
fund NN NN
managers NNS NNS
said VBD VBD
. . .
<s>
A DT DT
major JJ JJ
reason NN NN
is VBZ VBZ
that IN IN
investors NNS NNS
already RB RB
have VBP VBP
sharply RB RB
scaled VBN VBN
back RP RP
their PRP$ PRP$
purchases NNS NNS
of IN IN
stock NN NN
funds NNS NNS
since IN IN
Black NNP NNP
Monday NNP NNP
. . .
<s>
Stock-fund NN JJ
sales NNS NNS
have VBP VBP
rebounded VBN VBN
in IN IN
recent JJ JJ
months NNS NNS
, , ,
but CC CC
monthly JJ JJ
net JJ JJ
purchases NNS NNS
are VBP VBP
still RB RB
running VBG VBG
at IN IN
less JJR JJR
than IN IN
half NN NN
1987 CD CD
levels NNS NNS
. . .
<s>
`` `` ``
There EX EX
's VBZ VBZ
not RB RB
nearly RB RB
as RB IN
much JJ JJ
froth NN NN
, , ,
'' '' ''
said VBD VBD
John NNP NNP
Bogle NNP NNP
, , ,
chairman NN NN
of IN IN
Vanguard NNP NNP
Group NNP NNP
Inc. NNP NNP
, , ,
a DT DT
big JJ JJ
Valley NNP NNP
Forge NNP NNP
, , ,
Pa. NNP NNP
, , ,
fund NN NN
company NN NN
. . .
<s>
Many JJ JJ
fund NN NN
managers NNS NNS
argue VBP VBP
that IN IN
now RB RB
's VBZ VBZ
the DT DT
time NN NN
to TO TO
buy VB VB
. . .
<s>
Vincent NNP NNP
Bajakian NNP NNP
, , ,
manager NN NN
of IN IN
the DT DT
$ $ $
1.8 CD CD
billion CD CD
Wellington NNP NNP
Fund NNP NNP
, , ,
added VBD VBD
to TO TO
his PRP$ PRP$
positions NNS NNS
in IN IN
Bristol-Myers NNP NNP
Squibb NNP NNP
, , ,
Woolworth NNP NNP
and CC CC
Dun NNP NNP
& CC CC
Bradstreet NNP NNP
Friday NNP NNP
. . .
<s>
And CC CC
today NN NN
he PRP PRP
'll MD MD
be VB VB
looking VBG VBG
to TO TO
buy VB VB
drug NN NN
stocks NNS NNS
like IN IN
Eli NNP NNP
Lilly NNP NNP
, , ,
Pfizer NNP NNP
and CC CC
American NNP NNP
Home NNP NNP
Products NNPS NNP
whose WP$ WP$
dividend NN NN
yields NNS NNS
have VBP VBP
been VBN VBN
bolstered VBN VBN
by IN IN
stock NN NN
declines NNS NNS
. . .
<s>
Fidelity NNP NNP
's POS POS
Mr. NNP NNP
Lynch NNP NNP
, , ,
for IN IN
his PRP$ PRP$
part NN NN
, , ,
snapped VBD VBD
up RP RP
Southern NNP NNP
Co. NNP NNP
shares NNS NNS
Friday NNP NNP
after IN IN
the DT DT
stock NN NN
got VBD VBD
hammered VBN VBN
. . .
<s>
If IN IN
the DT DT
market NN NN
drops VBZ VBZ
further JJ RBR
today NN NN
, , ,
he PRP PRP
said VBD VBD
he PRP PRP
'll MD MD
be VB VB
buying VBG VBG
blue JJ JJ
chips NNS NNS
such JJ JJ
as IN IN
Bristol-Myers NNP NNP
and CC CC
Kellogg NNP NNP
. . .
<s>
`` `` ``
If IN IN
they PRP PRP
croak VBP VBP
stocks NNS NNS
like IN IN
that DT DT
, , ,
'' '' ''
he PRP PRP
said VBD VBD
, , ,
it PRP PRP
presents VBZ VBZ
an DT DT
opportunity NN NN
that WDT WDT
is VBZ VBZ
`` `` ``
the DT DT
kind NN NN
of IN IN
thing NN NN
you PRP PRP
dream VBP VBP
about IN IN
. . .
<s>
'' '' ''
Major JJ JJ
mutual-fund JJ NN
groups NNS NNS
said VBD VBD
phone NN NN
calls NNS NNS
were VBD VBD
arriving VBG VBG
at IN IN
twice RB RB
the DT DT
normal JJ JJ
weekend NN NN
pace NN NN
yesterday NN NN
. . .
<s>
But CC CC
most JJS JJS
investors NNS NNS
were VBD VBD
seeking VBG VBG
share NN NN
prices NNS NNS
and CC CC
other JJ JJ
information NN NN
. . .
<s>
Trading NN NN
volume NN NN
was VBD VBD
only RB RB
modestly RB RB
higher JJR JJR
than IN IN
normal JJ JJ
. . .
<s>
Still RB RB
, , ,
fund NN NN
groups NNS NNS
are VBP VBP
n't RB RB
taking VBG VBG
any DT DT
chances NNS NNS
. . .
<s>
They PRP PRP
hope VBP VBP
to TO TO
avoid VB VB
the DT DT
jammed VBN JJ
phone NN NN
lines NNS NNS
and CC CC
other JJ JJ
snags NNS NNS
that IN WDT
infuriated : VBD
some DT DT
fund NN NN
investors NNS NNS
in IN IN
October NNP NNP
1987 CD CD
. . .
<s>
Fidelity NNP NNP
on IN IN
Saturday NNP NNP
opened VBD VBD
its PRP$ PRP$
54 CD CD
walk-in JJ JJ
investor NN NN
centers NNS NNS
across IN IN
the DT DT
country NN NN
. . .
<s>
The DT DT
centers NNS NNS
normally RB RB
are VBP VBP
closed VBN JJ
through IN IN
the DT DT
weekend NN NN
. . .
<s>
In IN IN
addition NN NN
, , ,
East NNP NNP
Coast NNP NNP
centers NNS NNS
will MD MD
open VB VB
at IN IN
7:30 CD CD
EDT NNP NNP
this DT DT
morning NN NN
, , ,
instead RB RB
of IN IN
the DT DT
normal JJ JJ
8:30 CD CD
. . .
<s>
T. NNP NNP
Rowe NNP NNP
Price NNP NNP
Associates NNPS NNP
Inc. NNP NNP
increased VBD VBD
its PRP$ PRP$
staff NN NN
of IN IN
phone NN NN
representatives NNS NNS
to TO TO
handle VB VB
investor NN NN
requests NNS NNS
. . .
<s>
The DT DT
Baltimore-based JJ JJ
group NN NN
noted VBD VBD
that IN IN
some DT DT
investors NNS NNS
moved VBD VBD
money NN NN
from IN IN
stock NN NN
funds NNS NNS
to TO TO
money-market JJ NN
funds NNS NNS
. . .
<s>
But CC CC
most JJS JJS
investors NNS NNS
seemed VBD VBD
to TO TO
be VB VB
`` `` ``
in IN IN
an DT DT
information NN NN
mode NN NN
rather RB RB
than IN IN
in IN IN
a DT DT
transaction NN NN
mode NN NN
, , ,
'' '' ''
said VBD VBD
Steven NNP NNP
Norwitz NNP NNP
, , ,
a DT DT
vice NN NN
president NN NN
. . .
<s>
And CC CC
Vanguard NNP NNP
, , ,
among IN IN
other JJ JJ
groups NNS NNS
, , ,
said VBD VBD
it PRP PRP
was VBD VBD
adding VBG VBG
more JJR JJR
phone NN NN
representatives NNS NNS
today NN NN
to TO TO
help VB VB
investors NNS NNS
get VB VB
through IN RP
. . .
<s>
In IN IN
an DT DT
unusual JJ JJ
move NN NN
, , ,
several JJ JJ
funds NNS NNS
moved VBD VBD
to TO TO
calm JJ VB
investors NNS NNS
with IN IN
recordings NNS NNS
on IN IN
their PRP$ PRP$
toll-free JJ JJ
phone NN NN
lines NNS NNS
. . .
<s>
`` `` ``
We PRP PRP
view VBP VBP
( ( (
Friday NNP NNP
's POS POS
) ) )
market NN NN
decline NN NN
as IN IN
offering VBG VBG
us PRP PRP
a DT DT
buying VBG NN
opportunity NN NN
as IN IN
long-term JJ JJ
investors NNS NNS
, , ,
'' '' ''
a DT DT
recording NN NN
at IN IN
Gabelli NNP NNP
& CC CC
Co. NNP NNP
funds NNS NNS
said VBD VBD
over IN IN
the DT DT
weekend NN NN
. . .
<s>
The DT DT
Janus NNP NNP
Group NNP NNP
had VBD VBD
a DT DT
similar JJ JJ
recording NN NN
for IN IN
investors NNS NNS
. . .
<s>
Several JJ JJ
fund NN NN
managers NNS NNS
expect VBP VBP
a DT DT
rough JJ JJ
market NN NN
this DT DT
morning NN NN
before IN IN
prices NNS NNS
stabilize VBP VBP
. . .
<s>
Some DT DT
early JJ JJ
selling NN NN
is VBZ VBZ
likely JJ JJ
to TO TO
stem VB VB
from IN IN
investors NNS NNS
and CC CC
portfolio NN NN
managers NNS NNS
who WP WP
want VBP VBP
to TO TO
lock VB VB
in RP RP
this DT DT
year NN NN
's POS POS
fat JJ JJ
profits NNS NNS
. . .
<s>
Stock NN NN
funds NNS NNS
have VBP VBP
averaged VBN VBN
a DT DT
staggering JJ JJ
gain NN NN
of IN IN
25 CD CD
% NN NN
through IN IN
September NNP NNP
, , ,
according VBG VBG
to TO TO
Lipper NNP NNP
Analytical NNP NNP
Services NNPS NNP
Inc NNP NNP
. . .
<s>
Elaine NNP NNP
Garzarelli NNP NNP
, , ,
who WP WP
runs VBZ VBZ
Shearson NNP NNP
Lehman NNP NNP
Hutton NNP NNP
Inc. NNP NNP
's POS POS
$ $ $
335 CD CD
million CD CD
Sector NNP NNP
Analysis NNP NNP
Portfolio NNP NNP
, , ,
predicts VBZ VBZ
the DT DT
market NN NN
will MD MD
open VB VB
down RP RB
at IN IN
least JJS JJS
50 CD CD
points NNS NNS
on IN IN
technical JJ JJ
factors NNS NNS
and CC CC
`` `` ``
some DT DT
panic NN NN
selling NN NN
. . .
<s>
'' '' ''
But CC CC
she PRP PRP
expects VBZ VBZ
prices NNS NNS
to TO TO
rebound VB VB
soon RB RB
and CC CC
is VBZ VBZ
telling VBG VBG
investors NNS NNS
she PRP PRP
expects VBZ VBZ
the DT DT
stock NN NN
market NN NN
wo MD MD
n't RB RB
decline VB VB
more JJR JJR
than IN IN
10 CD CD
% NN NN
to TO TO
15 CD CD
% NN NN
from IN IN
recent JJ JJ
highs NNS NNS
. . .
<s>
`` `` ``
This DT DT
is VBZ VBZ
not RB RB
a DT DT
major JJ JJ
crash NN NN
, , ,
'' '' ''
she PRP PRP
said VBD VBD
. . .
<s>
Nevertheless RB RB
, , ,
Ms. NNP NNP
Garzarelli NNP NNP
said VBD VBD
she PRP PRP
was VBD VBD
swamped VBN VBN
with IN IN
phone NN NN
calls NNS NNS
over IN IN
the DT DT
weekend NN NN
from IN IN
nervous JJ JJ
shareholders NNS NNS
. . .
<s>
`` `` ``
Half NN NN
of IN IN
them PRP PRP
are VBP VBP
really RB RB
scared VBN JJ
and CC CC
want VBP VB
to TO TO
sell VB VB
, , ,
'' '' ''
she PRP PRP
said VBD VBD
, , ,
`` `` ``
but CC CC
I PRP PRP
'm VBP VBP
trying VBG VBG
to TO TO
talk VB VB
them PRP PRP
out IN IN
of IN IN
it PRP PRP
. . .
<s>
'' '' ''
She PRP PRP
added VBD VBD
, , ,
`` `` ``
If IN IN
they PRP PRP
all DT DT
were VBD VBD
bullish JJ JJ
, , ,
I PRP PRP
'd MD MD
really RB RB
be VB VB
upset VBN JJ
. . .
<s>
'' '' ''
The DT DT
backdrop NN NN
to TO TO
Friday NNP NNP
's POS POS
slide NN NN
was VBD VBD
markedly RB RB
different JJ JJ
from IN IN
that DT DT
of IN IN
the DT DT
October NNP NNP
1987 CD CD
crash NN NN
, , ,
fund NN NN
managers NNS NNS
argue VBP VBP
. . .
<s>
Two CD CD
years NNS NNS
ago RB RB
, , ,
unlike IN IN
today NN NN
, , ,
the DT DT
dollar NN NN
was VBD VBD
weak JJ JJ
, , ,
interest NN NN
rates NNS NNS
were VBD VBD
rising VBG VBG
and CC CC
the DT DT
market NN NN
was VBD VBD
very RB RB
overvalued VBD JJ
, , ,
they PRP PRP
say VBP VBP
. . .
<s>
`` `` ``
From IN IN
the DT DT
investors NNS NNS
' POS POS
standpoint NN NN
, , ,
institutions NNS NNS
and CC CC
individuals NNS NNS
learned VBD VBD
a DT DT
painful JJ JJ
lesson NN NN
... : :
by IN IN
selling VBG VBG
at IN IN
the DT DT
lows NNS NNS
'' '' ''
on IN IN
Black NNP NNP
Monday NNP NNP
, , ,
said VBD VBD
Stephen NNP NNP
Boesel NNP NNP
, , ,
manager NN NN
of IN IN
the DT DT
$ $ $
580 CD CD
million CD CD
T. NNP NNP
Rowe NNP NNP
Price NNP NNP
Growth NNP NNP
and CC CC
Income NNP NNP
Fund NNP NNP
. . .
<s>
This DT DT
time NN NN
, , ,
`` `` ``
I PRP PRP
do VBP VBP
n't RB RB
think VB VB
we PRP PRP
'll MD MD
get VB VB
a DT DT
panic NN NN
reaction NN NN
. . .
<s>
Newport NNP NNP
Corp. NNP NNP
said VBD VBD
it PRP PRP
expects VBZ VBZ
to TO TO
report VB VB
fiscal-first-quarter JJ JJ
earnings NNS NNS
of IN IN
between IN IN
15 CD CD
cents NNS NNS
and CC CC
19 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
somewhat RB RB
below IN IN
analysts NNS NNS
' POS POS
estimates NNS NNS
of IN IN
19 CD CD
cents NNS NNS
to TO TO
23 CD CD
cents NNS NNS
. . .
<s>
The DT DT
maker NN NN
of IN IN
scientific JJ JJ
instruments NNS NNS
and CC CC
laser NN NN
parts NNS NNS
said VBD VBD
orders NNS NNS
fell VBD VBD
below IN IN
expectations NNS NNS
in IN IN
recent JJ JJ
months NNS NNS
. . .
<s>
A DT DT
spokesman NN NN
added VBD VBD
that IN IN
sales NNS NNS
in IN IN
the DT DT
current JJ JJ
quarter NN NN
will MD NN
about RB RB
equal VB VB
the DT DT
yearearlier : JJ
quarter NN NN
's POS POS
figure NN NN
, , ,
when WRB WRB
Newport NNP NNP
reported VBD VBD
net JJ JJ
income NN NN
of IN IN
$ $ $
1.7 CD CD
million CD CD
, , ,
or CC CC
21 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
on IN IN
$ $ $
14.1 CD CD
million CD CD
in IN IN
sales NNS NNS
. . .
<s>
Ripples NNS NNS
from IN IN
the DT DT
strike NN NN
by IN IN
55,000 CD CD
Machinists NNS NNPS
union NN NN
members NNS NNS
against IN IN
Boeing NNP NNP
Co. NNP NNP
reached VBD VBD
air NN NN
carriers NNS NNS
Friday NNP NNP
as IN IN
America NNP NNP
West NNP NNP
Airlines NNPS NNP
announced VBD VBD
it PRP PRP
will MD MD
postpone VB VB
its PRP$ PRP$
new JJ JJ
service NN NN
out IN IN
of IN IN
Houston NNP NNP
because IN IN
of IN IN
delays NNS NNS
in IN IN
receiving VBG VBG
aircraft NN NN
from IN IN
the DT DT
Seattle NNP NNP
jet NN NN
maker NN NN
. . .
<s>
Peter NNP NNP
Otradovec NNP NNP
, , ,
vice NN NN
president NN NN
for IN IN
planning NN NN
at IN IN
the DT DT
Phoenix NNP NNP
, , ,
Ariz. NNP NNP
, , ,
carrier NN NN
, , ,
said VBD VBD
in IN IN
an DT DT
interview NN NN
that IN IN
the DT DT
work NN NN
stoppage NN NN
at IN IN
Boeing NNP NNP
, , ,
now RB RB
entering VBG VBG
its PRP$ PRP$
13th JJ JJ
day NN NN
, , ,
`` `` ``
has VBZ VBZ
caused VBN VBN
some DT DT
turmoil NN NN
in IN IN
our PRP$ PRP$
scheduling NN NN
'' '' ''
and CC CC
that IN IN
more JJR JJR
than IN IN
500 CD CD
passengers NNS NNS
who WP WP
were VBD VBD
booked VBN VBN
to TO TO
fly VB VB
out IN IN
of IN IN
Houston NNP NNP
on IN IN
America NNP NNP
West NNP NNP
would MD MD
now RB RB
be VB VB
put VBN VBN
on IN IN
other JJ JJ
airlines NNS NNS
. . .
<s>
Mr. NNP NNP
Otradovec NNP NNP
said VBD VBD
Boeing NNP NNP
told VBD VBD
America NNP NNP
West NNP NNP
that IN IN
the DT DT
757 CD NNP
it PRP PRP
was VBD VBD
supposed VBN VBN
to TO TO
get VB VB
this DT DT
Thursday NNP NNP
would MD MD
n't RB RB
be VB VB
delivered VBN VBN
until IN IN
Nov. NNP NNP
7 CD CD
-- : :
the DT DT
day NN NN
after IN IN
the DT DT
airline NN NN
had VBD VBD
been VBN VBN
planning VBG VBG
to TO TO
initiate VB VB
service NN NN
at IN IN
Houston NNP NNP
with IN IN
four CD CD
daily JJ JJ
flights NNS NNS
, , ,
including VBG VBG
three CD CD
nonstops NNS NNS
to TO TO
Phoenix NNP NNP
and CC CC
one CD CD
nonstop JJ NN
to TO TO
Las NNP NNP
Vegas NNP NNP
. . .
<s>
Now RB RB
, , ,
those DT DT
routes NNS NNS
are VBP VBP
n't RB RB
expected VBN VBN
to TO TO
begin VB VB
until IN IN
Jan NNP NNP
. . .
<s>
Boeing NNP NNP
is VBZ VBZ
also RB RB
supposed VBN VBN
to TO TO
send VB VB
to TO TO
America NNP NNP
West NNP NNP
another DT DT
757 CD CD
twin-engine JJ JJ
aircraft NN NN
as RB RB
well RB RB
as IN IN
a DT DT
737 CD CD
by IN IN
year NN NN
's POS POS
end NN NN
. . .
<s>
Those DT DT
, , ,
too RB RB
, , ,
are VBP VBP
almost RB RB
certain JJ JJ
to TO TO
arrive VB VB
late RB RB
. . .
<s>
At IN IN
this DT DT
point NN NN
, , ,
no DT DT
other JJ JJ
America NNP NNP
West NNP NNP
flights NNS NNS
-- : :
including VBG VBG
its PRP$ PRP$
new JJ JJ
service NN NN
at IN IN
San NNP NNP
Antonio NNP NNP
, , ,
Texas NNP NNP
; : :
Newark NNP NNP
, , ,
N.J. NNP NNP
; : :
and CC CC
Palmdale NNP NNP
, , ,
Calif. NNP NNP
-- : :
have VBP VBP
been VBN VBN
affected VBN VBN
by IN IN
the DT DT
delays NNS NNS
in IN IN
Boeing NNP NNP
deliveries NNS NNS
. . .
<s>
Nevertheless RB RB
, , ,
the DT DT
company NN NN
's POS POS
reaction NN NN
underscores VBZ VBZ
the DT DT
domino NN NN
effect NN NN
that IN IN
a DT DT
huge JJ JJ
manufacturer NN NN
such JJ JJ
as IN IN
Boeing NNP NNP
can MD MD
have VB VB
on IN IN
other JJ JJ
parts NNS NNS
of IN IN
the DT DT
economy NN NN
. . .
<s>
It PRP PRP
also RB RB
is VBZ VBZ
sure JJ JJ
to TO TO
help VB VB
the DT DT
machinists NNS NNS
put VBD VB
added VBN JJ
pressure NN NN
on IN IN
the DT DT
company NN NN
. . .
<s>
`` `` ``
I PRP PRP
just RB RB
do VBP VBP
n't RB RB
feel VB VB
that IN IN
the DT DT
company NN NN
can MD MD
really RB RB
stand VB VB
or CC CC
would MD MD
want VB VB
a DT DT
prolonged JJ JJ
walkout NN NN
, , ,
'' '' ''
Tom NNP NNP
Baker NNP NNP
, , ,
president NN NN
of IN IN
Machinists NNS NNP
' POS POS
District NNP NNP
751 CD CD
, , ,
said VBD VBD
in IN IN
an DT DT
interview NN NN
yesterday NN NN
. . .
<s>
`` `` ``
I PRP PRP
do VBP VBP
n't RB RB
think VB VB
their PRP$ PRP$
customers NNS NNS
would MD MD
like VB VB
it PRP PRP
very RB RB
much RB RB
. . .
<s>
'' '' ''
America NNP NNP
West NNP NNP
, , ,
though RB RB
, , ,
is VBZ VBZ
a DT DT
smaller JJR JJR
airline NN NN
and CC CC
therefore RB RB
more RBR RBR
affected VBN VBN
by IN IN
the DT DT
delayed VBN JJ
delivery NN NN
of IN IN
a DT DT
single JJ JJ
plane NN NN
than IN IN
many JJ JJ
of IN IN
its PRP$ PRP$
competitors NNS NNS
would MD MD
be VB VB
. . .
<s>
`` `` ``
I PRP PRP
figure VBP VBP
that IN IN
American JJ NNP
and CC CC
United NNP NNP
probably RB RB
have VBP VBP
such JJ PDT
a DT DT
hard JJ JJ
time NN NN
counting VBG VBG
all PDT PDT
the DT DT
planes NNS NNS
in IN IN
their PRP$ PRP$
fleets NNS NNS
, , ,
they PRP PRP
might MD MD
not RB RB
miss VB VB
one CD CD
at IN IN
all DT DT
, , ,
'' '' ''
Mr. NNP NNP
Otradovec NNP NNP
said VBD VBD
. . .
<s>
Indeed RB RB
, , ,
a DT DT
random JJ JJ
check NN NN
Friday NNP NNP
did VBD VBD
n't RB RB
seem VB VB
to TO TO
indicate VB VB
that IN IN
the DT DT
strike NN NN
was VBD VBD
having VBG VBG
much JJ JJ
of IN IN
an DT DT
effect NN NN
on IN IN
other JJ JJ
airline NN NN
operations NNS NNS
. . .
<s>
Southwest NNP NNP
Airlines NNPS NNP
has VBZ VBZ
a DT DT
Boeing NNP NNP
737-300 CD NNP
set VBN NN
for IN IN
delivery NN NN
at IN IN
the DT DT
end NN NN
of IN IN
this DT DT
month NN NN
and CC CC
expects VBZ VBZ
to TO TO
have VB VB
the DT DT
plane NN NN
on IN IN
time NN NN
. . .
<s>
`` `` ``
It PRP PRP
's VBZ VBZ
so RB RB
close JJ RB
to TO TO
completion NN NN
, , ,
Boeing NNP NNP
's POS VBZ
told VBD VBN
us PRP PRP
there EX EX
wo MD MD
n't RB RB
be VB VB
a DT DT
problem NN NN
, , ,
'' '' ''
said VBD VBD
a DT DT
Southwest NNP NNP
spokesman NN NN
. . .
<s>
A DT DT
spokesman NN NN
for IN IN
AMR NNP NNP
Corp. NNP NNP
said VBD VBD
Boeing NNP NNP
has VBZ VBZ
assured VBN VBN
American NNP NNP
Airlines NNPS NNP
it PRP PRP
will MD MD
deliver VB VB
a DT DT
757 CD NNP
on IN IN
time NN NN
later RB RB
this DT DT
month NN NN
. . .
<s>
American NNP NNP
is VBZ VBZ
preparing VBG VBG
to TO TO
take VB VB
delivery NN NN
of IN IN
another DT DT
757 CD NNP
in IN IN
early JJ JJ
December NNP NNP
and CC CC
20 CD CD
more RBR JJR
next JJ JJ
year NN NN
and CC CC
is VBZ VBZ
n't RB RB
anticipating VBG VBG
any DT DT
changes NNS NNS
in IN IN
that DT DT
timetable NN NN
. . .
<s>
In IN IN
Seattle NNP NNP
, , ,
a DT DT
Boeing NNP NNP
spokesman NN NN
explained VBD VBD
that IN IN
the DT DT
company NN NN
has VBZ VBZ
been VBN VBN
in IN IN
constant JJ JJ
communication NN NN
with IN IN
all DT DT
of IN IN
its PRP$ PRP$
customers NNS NNS
and CC CC
that IN IN
it PRP PRP
was VBD VBD
impossible JJ JJ
to TO TO
predict VB VB
what WP WP
further JJ JJ
disruptions NNS NNS
might MD MD
be VB VB
triggered VBN VBN
by IN IN
the DT DT
strike NN NN
. . .
<s>
Meanwhile RB RB
, , ,
supervisors NNS NNS
and CC CC
non-striking JJ JJ
employees NNS NNS
have VBP VBP
been VBN VBN
trying VBG VBG
to TO TO
finish VB VB
some DT RB
40 CD CD
aircraft NN NNS
-- : :
mostly RB RB
747 CD NNP
and CC CC
767 CD NNP
jumbo JJ JJ
jets NNS NNS
at IN IN
the DT DT
company NN NN
's POS POS
Everett NNP NNP
, , ,
Wash. NNP NNP
, , ,
plant NN NN
-- : :
that WDT WDT
were VBD VBD
all DT RB
but CC RB
completed VBN VBN
before IN IN
the DT DT
walkout NN NN
. . .
<s>
As IN IN
of IN IN
Friday NNP NNP
, , ,
four CD CD
had VBD VBD
been VBN VBN
delivered VBN VBN
and CC CC
a DT DT
fifth JJ JJ
plane NN NN
, , ,
a DT DT
747-400 CD NNP
, , ,
was VBD VBD
supposed VBN VBN
to TO TO
be VB VB
flown VBN VBN
out RP RP
over IN IN
the DT DT
weekend NN NN
to TO TO
Air NNP NNP
China NNP NNP
. . .
<s>
No DT DT
date NN NN
has VBZ VBZ
yet RB RB
been VBN VBN
set VBN VBN
to TO TO
get VB VB
back RB RB
to TO TO
the DT DT
bargaining NN NN
table NN NN
. . .
<s>
`` `` ``
We PRP PRP
want VBP VBP
to TO TO
make VB VB
sure JJ JJ
they PRP PRP
know VBP VBP
what WP WP
they PRP PRP
want VBP VBP
before IN IN
they PRP PRP
come VBP VBP
back RB RP
, , ,
'' '' ''
said VBD VBD
Doug NNP NNP
Hammond NNP NNP
, , ,
the DT DT
federal JJ JJ
mediator NN NN
who WP WP
has VBZ VBZ
been VBN VBN
in IN IN
contact NN NN
with IN IN
both DT DT
sides NNS NNS
since IN IN
the DT DT
strike NN NN
began VBD VBD
. . .
<s>
The DT DT
investment NN NN
community NN NN
, , ,
for IN IN
one CD CD
, , ,
has VBZ VBZ
been VBN VBN
anticipating VBG VBG
a DT DT
speedy JJ JJ
resolution NN NN
. . .
<s>
Though IN NNP
Boeing NNP NNP
's POS POS
stock NN NN
price NN NN
was VBD VBD
battered VBN VBN
along IN IN
with IN IN
the DT DT
rest NN NN
of IN IN
the DT DT
market NN NN
Friday NNP NNP
, , ,
it PRP PRP
actually RB RB
has VBZ VBZ
risen VBN VBN
over IN IN
the DT DT
last JJ JJ
two CD CD
weeks NNS NNS
on IN IN
the DT DT
strength NN NN
of IN IN
new JJ JJ
orders NNS NNS
. . .
<s>
`` `` ``
The DT DT
market NN NN
has VBZ VBZ
taken VBN VBN
two CD CD
views NNS NNS
: : :
that IN IN
the DT DT
labor NN NN
situation NN NN
will MD MD
get VB VB
settled VBN VBN
in IN IN
the DT DT
short JJ JJ
term NN NN
and CC CC
that IN IN
things NNS NNS
look VBP VBP
very RB RB
rosy JJ JJ
for IN IN
Boeing NNP NNP
in IN IN
the DT DT
long JJ JJ
term NN NN
, , ,
'' '' ''
said VBD VBD
Howard NNP NNP
Rubel NNP NNP
, , ,
an DT DT
analyst NN NN
at IN IN
Cyrus NNP NNP
J. NNP NNP
Lawrence NNP NNP
Inc NNP NNP
. . .
<s>
Boeing NNP NNP
's POS POS
shares NNS NNS
fell VBD VBD
$ $ $
4 CD CD
Friday NNP NNP
to TO TO
close VB VB
at IN IN
$ $ $
57.375 CD CD
in IN IN
composite JJ JJ
trading NN NN
on IN IN
the DT DT
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
. . .
<s>
But CC CC
Mr. NNP NNP
Baker NNP NNP
said VBD VBD
he PRP PRP
thinks VBZ VBZ
the DT DT
earliest JJS RBS
a DT DT
pact NN NN
could MD MD
be VB VB
struck VBN VBN
would MD MD
be VB VB
the DT DT
end NN NN
of IN IN
this DT DT
month NN NN
, , ,
hinting VBG VBG
that IN IN
the DT DT
company NN NN
and CC CC
union NN NN
may MD MD
resume VB VB
negotiations NNS NNS
as RB RB
early RB RB
as IN IN
this DT DT
week NN NN
. . .
<s>
Still RB RB
, , ,
he PRP PRP
said VBD VBD
, , ,
it PRP PRP
's VBZ VBZ
possible JJ JJ
that IN IN
the DT DT
strike NN NN
could MD MD
last VB VB
considerably RB RB
longer RB RBR
. . .
<s>
`` `` ``
I PRP PRP
would MD MD
n't RB RB
expect VB VB
an DT DT
immediate JJ JJ
resolution NN NN
to TO TO
anything NN NN
. . .
<s>
'' '' ''
Last JJ JJ
week NN NN
, , ,
Boeing NNP NNP
Chairman NNP NNP
Frank NNP NNP
Shrontz NNP NNP
sent VBD VBD
striking JJ VBG
workers NNS NNS
a DT DT
letter NN NN
, , ,
saying VBG VBG
that IN IN
`` `` ``
to TO TO
my PRP$ PRP$
knowledge NN NN
, , ,
Boeing NNP NNP
's POS POS
offer NN NN
represents VBZ VBZ
the DT DT
best JJS JJS
overall JJ JJ
three-year JJ JJ
contract NN NN
of IN IN
any DT DT
major JJ JJ
U.S. NNP NNP
industrial JJ JJ
firm NN NN
in IN IN
recent JJ JJ
history NN NN
. . .
<s>
'' '' ''
But CC CC
Mr. NNP NNP
Baker NNP NNP
called VBD VBD
the DT DT
letter NN NN
-- : :
and CC CC
the DT DT
company NN NN
's POS POS
offer NN NN
of IN IN
a DT DT
10 CD CD
% NN NN
wage NN NN
increase NN NN
over IN IN
the DT DT
life NN NN
of IN IN
the DT DT
pact NN NN
, , ,
plus CC CC
bonuses NNS NNS
-- : :
`` `` ``
very RB RB
weak JJ JJ
. . .
<s>
'' '' ''
He PRP PRP
added VBD VBD
that IN IN
the DT DT
company NN NN
miscalculated VBD VBD
the DT DT
union NN NN
's POS POS
resolve NN NN
and CC CC
the DT DT
workers NNS NNS
' POS POS
disgust NN NN
with IN IN
being VBG VBG
forced VBN VBN
to TO TO
work VB VB
many JJ JJ
hours NNS NNS
overtime RB RB
. . .
<s>
In IN IN
separate JJ JJ
developments NNS NNS
: : :
-- : :
Talks NNS NNS
have VBP VBP
broken VBN VBN
off RP RP
between IN IN
Machinists NNS NNPS
representatives NNS NNS
at IN IN
Lockheed NNP NNP
Corp. NNP NNP
and CC CC
the DT DT
Calabasas NNP NNP
, , ,
Calif. NNP NNP
, , ,
aerospace NN NN
company NN NN
. . .
<s>
The DT DT
union NN NN
is VBZ VBZ
continuing VBG VBG
to TO TO
work VB VB
through IN IN
its PRP$ PRP$
expired VBN JJ
contract NN NN
, , ,
however RB RB
. . .
<s>
It PRP PRP
had VBD VBD
planned VBN VBN
a DT DT
strike NN NN
vote NN NN
for IN IN
next JJ JJ
Sunday NNP NNP
, , ,
but CC CC
that DT IN
has VBZ VBZ
been VBN VBN
pushed VBN VBN
back RB RP
indefinitely RB RB
. . .
<s>
-- : :
United NNP NNP
Auto NNP NNP
Workers NNPS NNP
Local NNP NNP
1069 CD NNP
, , ,
which WDT WDT
represents VBZ VBZ
3,000 CD CD
workers NNS NNS
at IN IN
Boeing NNP NNP
's POS POS
helicopter NN NN
unit NN NN
in IN IN
Delaware NNP NNP
County NNP NNP
, , ,
Pa. NNP NNP
, , ,
said VBD VBD
it PRP PRP
agreed VBD VBD
to TO TO
extend VB VB
its PRP$ PRP$
contract NN NN
on IN IN
a DT DT
day-by-day JJ JJ
basis NN NN
, , ,
with IN IN
a DT DT
10-day JJ JJ
notification NN NN
to TO TO
cancel VB VB
, , ,
while IN IN
it PRP PRP
continues VBZ VBZ
bargaining NN VBG
. . .
<s>
The DT DT
accord NN NN
expired VBD VBD
yesterday NN NN
. . .
<s>
-- : :
And CC CC
Boeing NNP NNP
on IN IN
Friday NNP NNP
said VBD VBD
it PRP PRP
received VBD VBD
an DT DT
order NN NN
from IN IN
Martinair NNP NNP
Holland NNP NNP
for IN IN
four CD CD
model NN JJ
767-300 CD NNP
wide-body NN JJ
jetliners NNS NNS
valued VBN VBN
at IN IN
a DT DT
total NN NN
of IN IN
about IN RB
$ $ $
326 CD CD
million CD CD
. . .
<s>
The DT DT
planes NNS NNS
, , ,
long JJ JJ
range NN NN
versions NNS NNS
of IN IN
the DT DT
medium-haul NN JJ
twin-jet NN NN
, , ,
will MD MD
be VB VB
delivered VBN VBN
with IN IN
Pratt NNP NNP
& CC CC
Whitney NNP NNP
PW4060 NNP NNP
engines NNS NNS
. . .
<s>
Pratt NNP NNP
& CC CC
Whitney NNP NNP
is VBZ VBZ
a DT DT
unit NN NN
of IN IN
United NNP NNP
Technologies NNPS NNP
Inc NNP NNP
. . .
<s>
Martinair NNP NNP
Holland NNP NNP
is VBZ VBZ
based VBN VBN
in IN IN
Amsterdam NNP NNP
. . .
<s>
A DT DT
Boeing NNP NNP
spokeswoman NN NN
said VBD VBD
a DT DT
delivery NN NN
date NN NN
for IN IN
the DT DT
planes NNS NNS
is VBZ VBZ
still RB RB
being VBG VBG
worked VBN VBD
out RP RP
`` `` ``
for IN IN
a DT DT
variety NN NN
of IN IN
reasons NNS NNS
, , ,
but CC CC
not RB RB
because IN IN
of IN IN
the DT DT
strike NN NN
. . .
<s>
'' '' ''
Bridget NNP NNP
O'Brian NNP NNP
contributed VBD VBD
to TO TO
this DT DT
article NN NN
. . .
<s>
Atco NNP NNP
Ltd. NNP NNP
said VBD VBD
its PRP$ PRP$
utilities NNS NNS
arm NN NN
is VBZ VBZ
considering VBG VBG
building VBG VBG
new JJ JJ
electric JJ JJ
power NN NN
plants NNS NNS
, , ,
some DT DT
valued VBN VBN
at IN IN
more JJR JJR
than IN IN
one CD CD
billion CD CD
Canadian JJ JJ
dollars NNS NNS
( ( (
US$ $ $
851 CD CD
million CD CD
) ) )
, , ,
in IN IN
Great NNP NNP
Britain NNP NNP
and CC CC
elsewhere RB RB
. . .
<s>
C.S. NNP NNP
Richardson NNP NNP
, , ,
Atco NNP NNP
's POS POS
senior JJ JJ
vice NN NN
president NN NN
, , ,
finance NN NN
, , ,
said VBD VBD
its PRP$ PRP$
50.1%-owned JJ JJ
Canadian NNP NNP
Utilities NNPS NNP
Ltd. NNP NNP
unit NN NN
is VBZ VBZ
reviewing VBG VBG
cogeneration NN NN
projects NNS NNS
in IN IN
eastern JJ JJ
Canada NNP NNP
, , ,
and CC CC
conventional JJ JJ
electric JJ JJ
power NN NN
generating VBG NN
plants NNS NNS
elsewhere RB RB
, , ,
including VBG VBG
Britain NNP NNP
, , ,
where WRB WRB
the DT DT
British JJ JJ
government NN NN
plans NNS NNS
to TO TO
allow VB VB
limited JJ JJ
competition NN NN
in IN IN
electrical JJ JJ
generation NN NN
from IN IN
private-sector JJ JJ
suppliers NNS NNS
as IN IN
part NN NN
of IN IN
its PRP$ PRP$
privatization NN NN
program NN NN
. . .
<s>
`` `` ``
The DT DT
projects NNS NNS
are VBP VBP
big JJ JJ
. . .
<s>
They PRP PRP
can MD MD
be VB VB
C$ $ $
1 CD CD
billion CD CD
plus CC RB
, , ,
'' '' ''
Mr. NNP NNP
Richardson NNP NNP
said VBD VBD
. . .
<s>
`` `` ``
But CC CC
we PRP PRP
would MD MD
n't RB RB
go VB VB
into IN IN
them PRP PRP
alone RB RB
, , ,
'' '' ''
and CC CC
Canadian NNP NNP
Utilities NNP NNP
' POS POS
equity NN NN
stake NN NN
would MD MD
be VB VB
small JJ JJ
, , ,
he PRP PRP
said VBD VBD
. . .
<s>
`` `` ``
Ideally RB RB
, , ,
we PRP PRP
'd MD MD
like VB VB
to TO TO
be VB VB
the DT DT
operator NN NN
( ( (
of IN IN
the DT DT
project NN NN
) ) )
and CC CC
a DT DT
modest JJ JJ
equity NN NN
investor NN NN
. . .
<s>
Our PRP$ PRP$
long JJ JJ
suit NN NN
is VBZ VBZ
our PRP$ PRP$
proven JJ JJ
ability NN NN
to TO TO
operate VB VB
'' '' ''
power NN NN
plants NNS NNS
, , ,
he PRP PRP
said VBD VBD
. . .
<s>
Mr. NNP NNP
Richardson NNP NNP
would MD MD
n't RB RB
offer VB VB
specifics NNS NNS
regarding VBG VBG
Atco NNP NNP
's POS VBZ
proposed VBN VBN
British JJ JJ
project NN NN
, , ,
but CC CC
he PRP PRP
said VBD VBD
it PRP PRP
would MD MD
compete VB VB
for IN IN
customers NNS NNS
with IN IN
two CD CD
huge JJ JJ
British JJ JJ
power NN NN
generating VBG NN
companies NNS NNS
that WDT WDT
would MD MD
be VB VB
formed VBN VBN
under IN IN
the DT DT
country NN NN
's POS POS
plan NN NN
to TO TO
privatize VB VB
its PRP$ PRP$
massive JJ JJ
water NN NN
and CC CC
electric JJ JJ
utilities NNS NNS
. . .
<s>
Britain NNP NNP
's POS POS
government NN NN
plans VBZ VBZ
to TO TO
raise VB VB
about RB RB
# # #
20 CD CD
billion CD CD
( ( (
$ $ $
31.05 CD CD
billion CD CD
) ) )
from IN IN
the DT DT
sale NN NN
of IN IN
most JJS JJS
of IN IN
its PRP$ PRP$
giant JJ JJ
water NN NN
and CC CC
electric JJ JJ
utilities NNS NNS
, , ,
beginning VBG VBG
next JJ JJ
month NN NN
. . .
<s>
The DT DT
planned VBN JJ
electric JJ JJ
utility NN NN
sale NN NN
, , ,
scheduled VBN VBN
for IN IN
next JJ JJ
year NN NN
, , ,
is VBZ VBZ
alone RB RB
expected VBN VBN
to TO TO
raise VB VB
# # #
13 CD CD
billion CD CD
, , ,
making VBG VBG
it PRP PRP
the DT DT
world NN NN
's POS POS
largest JJS JJS
public JJ JJ
offering NN NN
. . .
<s>
Under IN IN
terms NNS NNS
of IN IN
the DT DT
plan NN NN
, , ,
independent JJ JJ
generators NNS NNS
would MD MD
be VB VB
able JJ JJ
to TO TO
compete VB VB
for IN IN
15 CD CD
% NN NN
of IN IN
customers NNS NNS
until IN IN
1994 CD CD
, , ,
and CC CC
for IN IN
another DT DT
10 CD CD
% NN NN
between IN IN
1994 CD CD
and CC CC
1998 CD CD
. . .
<s>
Canadian NNP NNP
Utilities NNPS NNP
had VBD VBD
1988 CD CD
revenue NN NN
of IN IN
C$ $ $
1.16 CD CD
billion CD CD
, , ,
mainly RB RB
from IN IN
its PRP$ PRP$
natural JJ JJ
gas NN NN
and CC CC
electric JJ JJ
utility NN NN
businesses NNS NNS
in IN IN
Alberta NNP NNP
, , ,
where WRB WRB
the DT DT
company NN NN
serves VBZ VBZ
about IN RB
800,000 CD CD
customers NNS NNS
. . .
<s>
`` `` ``
There EX EX
seems VBZ VBZ
to TO TO
be VB VB
a DT DT
move NN NN
around IN IN
the DT DT
world NN NN
to TO TO
deregulate VB VB
the DT DT
generation NN NN
of IN IN
electricity NN NN
, , ,
'' '' ''
Mr. NNP NNP
Richardson NNP NNP
said VBD VBD
, , ,
and CC CC
Canadian NNP NNP
Utilities NNPS NNP
hopes VBZ VBZ
to TO TO
capitalize VB VB
on IN IN
it PRP PRP
. . .
<s>
`` `` ``
This DT DT
is VBZ VBZ
a DT DT
real JJ JJ
thrust NN NN
on IN IN
our PRP$ PRP$
utility NN NN
side NN NN
, , ,
'' '' ''
he PRP PRP
said VBD VBD
, , ,
adding VBG VBG
that IN IN
Canadian NNP NNP
Utilities NNP NNP
is VBZ VBZ
also RB RB
mulling VBG VBG
projects NNS NNS
in IN IN
underdeveloped JJ JJ
countries NNS NNS
, , ,
though IN IN
he PRP PRP
would MD MD
be VB VB
specific JJ JJ
. . .
<s>
Canadian NNP NNP
Utilities NNP NNP
is VBZ VBZ
n't RB RB
alone RB RB
in IN IN
exploring VBG VBG
power NN NN
generation NN NN
opportunities NNS NNS
in IN IN
Britain NNP NNP
, , ,
in IN IN
anticipation NN NN
of IN IN
the DT DT
privatization NN NN
program NN NN
. . .
<s>
`` `` ``
We PRP PRP
're VBP VBP
certainly RB RB
looking VBG VBG
at IN IN
some DT DT
power NN NN
generating VBG NN
projects NNS NNS
in IN IN
England NNP NNP
, , ,
'' '' ''
said VBD VBD
Bruce NNP NNP
Stram NNP NNP
, , ,
vice NN NN
president NN NN
, , ,
corporate JJ JJ
strategy NN NN
and CC CC
corporate JJ JJ
planning NN NN
, , ,
with IN IN
Enron NNP NNP
Corp. NNP NNP
, , ,
Houston NNP NNP
, , ,
a DT DT
big JJ JJ
natural JJ JJ
gas NN NN
producer NN NN
and CC CC
pipeline NN NN
operator NN NN
. . .
<s>
Mr. NNP NNP
Stram NNP NNP
said VBD VBD
Enron NNP NNP
is VBZ VBZ
considering VBG VBG
building VBG VBG
gas-fired JJ JJ
power NN NN
plants NNS NNS
in IN IN
the DT DT
U.K. NNP NNP
capable JJ JJ
of IN IN
producing VBG VBG
about IN RB
500 CD CD
megawatts NNS NNS
of IN IN
power NN NN
at IN IN
a DT DT
cost NN NN
of IN IN
about IN RB
$ $ $
300 CD CD
million CD CD
to TO TO
$ $ $
400 CD CD
million CD CD
. . .
<s>
PSE NNP NNP
Inc. NNP NNP
said VBD VBD
it PRP PRP
expects VBZ VBZ
to TO TO
report VB VB
third JJ JJ
earnings NNS NNS
of IN IN
$ $ $
1.3 CD CD
million CD CD
to TO TO
$ $ $
1.7 CD CD
million CD CD
, , ,
or CC CC
14 CD CD
cents NNS NNS
to TO TO
18 CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
In IN IN
the DT DT
year-ago JJ JJ
quarter NN NN
, , ,
the DT DT
designer NN NN
and CC CC
operator NN NN
of IN IN
cogeneration NN NN
and CC CC
waste NN NN
heat NN NN
recovery NN NN
plants NNS NNS
had VBD VBD
net JJ JJ
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of IN IN
$ $ $
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, , ,
or CC CC
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cents NNS NNS
a DT DT
share NN NN
, , ,
on IN IN
revenue NN NN
of IN IN
about IN RB
$ $ $
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million CD CD
. . .
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The DT DT
company NN NN
said VBD VBD
the DT DT
improvement NN NN
is VBZ VBZ
related VBN VBN
to TO TO
additional JJ JJ
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facilities NNS NNS
that WDT WDT
have VBP VBP
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put VBN VBN
into IN IN
operation NN NN
. . .
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CONCORDE : NNP
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are VBP VBP
$ $ $
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to TO TO
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and CC CC
$ $ $
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to TO TO
London NNP NNP
. . .
<s>
In IN IN
a DT DT
Centennial NNP NNP
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5 CD CD
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the DT DT
fares NNS NNS
were VBD VBD
reversed VBN VBN
. . .
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Diamond NNP NNP
Shamrock NNP NNP
Offshore NNP NNP
Partners NNPS NNP
said VBD VBD
it PRP PRP
had VBD VBD
discovered VBN VBN
gas NN NN
offshore RB RB
Louisiana NNP NNP
. . .
<s>
The DT DT
well RB RB
flowed VBD VBD
at IN IN
a DT DT
rate NN NN
of IN IN
2.016 CD CD
million CD CD
cubic JJ JJ
feet NNS NNS
of IN IN
gas NN NN
a DT DT
day NN NN
through IN IN
a DT DT
16 CD CD
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at IN IN
depths NNS NNS
between IN IN
5,782 CD CD
and CC CC
5,824 CD CD
feet NNS NNS
. . .
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Diamond NNP NNP
Shamrock NNP NNP
is VBZ VBZ
the DT DT
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, , ,
with IN IN
a DT DT
100 CD CD
% NN NN
interest NN NN
in IN IN
the DT DT
well NN NN
. . .
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Shamrock NNP NNP
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's POS POS
stock NN NN
rose VBD VBD
12.5 CD CD
cents NNS NNS
Friday NNP NNP
to TO TO
close VB VB
at IN IN
$ $ $
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in IN IN
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Stock NNP NNP
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trading NN NN
. . .
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& CC CC
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Home NNP NNP
Corp. NNP NNP
said VBD VBD
it PRP PRP
formed VBD VBD
a DT DT
$ $ $
53.4 CD CD
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limited JJ JJ
partnership NN NN
subsidiary NN NN
to TO TO
buy VB VB
land NN NN
in IN IN
California NNP NNP
suitable JJ JJ
for IN IN
residential JJ JJ
development NN NN
. . .
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partnership NN NN
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& CC CC
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Development NNP NNP
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Limited NNP NNP
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is VBZ VBZ
a DT DT
50-50 CD JJ
joint JJ JJ
venture NN NN
with IN IN
a DT DT
trust NN NN
created VBN VBN
by IN IN
institutional JJ JJ
clients NNS NNS
of IN IN
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Advisory NNP NNP
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, , ,
a DT DT
unit NN NN
of IN IN
Heitman NNP NNP
Financial NNP NNP
Corp. NNP NNP
, , ,
a DT DT
real JJ JJ
estate NN NN
advisory NN NN
, , ,
management NN NN
and CC CC
development NN NN
company NN NN
with IN IN
offices NNS NNS
in IN IN
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and CC CC
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, , ,
Calif NNP NNP
. . .
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& CC CC
Broad NNP NNP
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a DT DT
home NN NN
building NN NN
company NN NN
, , ,
declined VBD VBD
to TO TO
identify VB VB
the DT DT
institutional JJ JJ
investors NNS NNS
. . .
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land NN NN
to TO TO
be VB VB
purchased VBN VBN
by IN IN
the DT DT
joint JJ JJ
venture NN NN
has VBZ VBZ
n't RB RB
yet RB RB
received VBN VBD
zoning NN NN
and CC CC
other JJ JJ
approvals NNS NNS
required VBN VBN
for IN IN
development NN NN
, , ,
and CC CC
part NN NN
of IN IN
Kaufman NNP NNP
& CC CC
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will MD MD
be VB VB
to TO TO
obtain VB VB
such JJ JJ
approvals NNS NNS
. . .
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partnership NN NN
runs VBZ VBZ
the DT DT
risk NN NN
that IN IN
it PRP PRP
may MD MD
not RB RB
get VB VB
the DT DT
approvals NNS NNS
for IN IN
development NN NN
, , ,
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in IN IN
return NN NN
, , ,
it PRP PRP
can MD MD
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land NN NN
at IN IN
wholesale JJ JJ
rather RB RB
than IN IN
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, , ,
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can MD MD
result VB VB
in IN IN
sizable JJ JJ
savings NNS NNS
, , ,
said VBD VBD
Bruce NNP NNP
Karatz NNP NNP
, , ,
president NN NN
and CC CC
chief JJ JJ
executive JJ JJ
officer NN NN
of IN IN
Kaufman NNP NNP
& CC CC
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. . .
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`` `` ``
There EX EX
are VBP VBP
really RB RB
very RB RB
few JJ JJ
companies NNS NNS
that WDT WDT
have VBP VBP
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to TO TO
buy VB VB
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in IN IN
a DT DT
raw JJ JJ
state NN NN
for IN IN
cash NN NN
. . .
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, , ,
developers NNS NNS
option NN VBP
property NN NN
, , ,
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then RB RB
once IN IN
they PRP PRP
get VBP VBP
the DT DT
administrative JJ JJ
approvals NNS NNS
, , ,
they PRP PRP
buy VBP VBP
it PRP PRP
, , ,
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said VBD VBD
Mr. NNP NNP
Karatz NNP NNP
, , ,
adding VBG VBG
that IN IN
he PRP PRP
believes VBZ VBZ
the DT DT
joint JJ JJ
venture NN NN
is VBZ VBZ
the DT DT
first JJ JJ
of IN IN
its PRP$ PRP$
kind NN NN
. . .
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`` `` ``
We PRP PRP
usually RB RB
operate VBP VBP
in IN IN
that DT DT
conservative JJ JJ
manner NN NN
. . .
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'' '' ''
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setting VBG VBG
up RP RP
the DT DT
joint JJ JJ
venture NN NN
, , ,
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& CC CC
Broad NNP NNP
can MD MD
take VB VB
the DT DT
more RBR RBR
aggressive JJ JJ
approach NN NN
of IN IN
buying VBG VBG
raw JJ JJ
land NN NN
, , ,
while IN IN
avoiding VBG VBG
the DT DT
negative JJ JJ
impacts NNS NNS
to TO TO
its PRP$ PRP$
own JJ JJ
balance NN NN
sheet NN NN
, , ,
Mr. NNP NNP
Karatz NNP NNP
said VBD VBD
. . .
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The DT DT
company NN NN
is VBZ VBZ
putting VBG VBG
up RP RP
only RB RB
10 CD CD
% NN NN
of IN IN
the DT DT
capital NN NN
, , ,
although IN IN
it PRP PRP
is VBZ VBZ
responsible JJ JJ
for IN IN
providing VBG VBG
management NN NN
, , ,
planning NN NN
and CC CC
processing NN NN
services NNS NNS
to TO TO
the DT DT
joint JJ JJ
venture NN NN
. . .
<s>
`` `` ``
This DT DT
is VBZ VBZ
one CD CD
of IN IN
the DT DT
best JJS JJS
ways NNS NNS
to TO TO
assure VB VB
a DT DT
pipeline NN NN
of IN IN
land NN NN
to TO TO
fuel VB VB
our PRP$ PRP$
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at IN IN
a DT DT
minimum NN JJ
risk NN NN
to TO TO
our PRP$ PRP$
company NN NN
, , ,
'' '' ''
Mr. NNP NNP
Karatz NNP NNP
said VBD VBD
. . .
<s>
When WRB WRB
the DT DT
price NN NN
of IN IN
plastics NNS NNS
took VBD VBD
off RP RP
in IN IN
1987 CD CD
, , ,
Quantum NNP NNP
Chemical NNP NNP
Corp. NNP NNP
went VBD VBD
along IN RB
for IN IN
the DT DT
ride NN NN
. . .
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The DT DT
timing NN NN
of IN IN
Quantum NNP NNP
's POS POS
chief JJ JJ
executive NN JJ
officer NN NN
, , ,
John NNP NNP
Hoyt NNP NNP
Stookey NNP NNP
, , ,
appeared VBD VBD
to TO TO
be VB VB
nothing NN NN
less JJR RBR
than IN IN
inspired VBN VBN
, , ,
because IN IN
he PRP PRP
had VBD VBD
just RB RB
increased VBN VBN
Quantum NNP NNP
's POS POS
reliance NN NN
on IN IN
plastics NNS NNS
. . .
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The DT DT
company NN NN
outpaced VBD VBD
much JJ JJ
of IN IN
the DT DT
chemical NN JJ
industry NN NN
as IN IN
annual JJ JJ
profit NN NN
grew VBD VBD
fivefold RB JJ
in IN IN
two CD CD
years NNS NNS
. . .
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Mr. NNP NNP
Stookey NNP NNP
said VBD VBD
of IN IN
the DT DT
boom NN NN
, , ,
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It PRP PRP
's VBZ VBZ
going VBG VBG
to TO TO
last VB VB
a DT DT
whole JJ JJ
lot NN NN
longer JJR RBR
than IN IN
anybody NN NN
thinks VBZ VBZ
. . .
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'' '' ''
But CC CC
now RB RB
prices NNS NNS
have VBP VBP
nose-dived VBD VBN
and CC CC
Quantum NNP NNP
's POS POS
profit NN NN
is VBZ VBZ
plummeting VBG VBG
. . .
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Some DT DT
securities NNS NNS
analysts NNS NNS
are VBP VBP
looking VBG VBG
for IN IN
no RB RB
better JJR JJR
than IN IN
break-even JJ JJ
results NNS NNS
from IN IN
the DT DT
company NN NN
for IN IN
the DT DT
third JJ JJ
quarter NN NN
, , ,
compared VBN VBN
with IN IN
year-earlier JJ JJ
profit NN NN
of IN IN
$ $ $
99.8 CD CD
million CD CD
, , ,
or CC CC
$ $ $
3.92 CD CD
a DT DT
share NN NN
, , ,
on IN IN
sales NNS NNS
of IN IN
$ $ $
724.4 CD CD
million CD CD
. . .
<s>
The DT DT
stock NN NN
, , ,
having VBG VBG
lost VBN VBN
nearly RB RB
a DT DT
quarter NN NN
of IN IN
its PRP$ PRP$
value NN NN
since IN IN
Sept. NNP NNP
1 CD CD
, , ,
closed VBD VBD
at IN IN
$ $ $
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share NN NN
, , ,
down RB RB
$ $ $
1.125 CD CD
, , ,
in IN IN
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
composite JJ JJ
trading NN NN
Friday NNP NNP
. . .
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To TO TO
a DT DT
degree NN NN
, , ,
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represents VBZ VBZ
the DT DT
new JJ JJ
times NNS NNS
that WDT WDT
have VBP VBP
arrived VBN VBN
for IN IN
producers NNS NNS
of IN IN
the DT DT
so-called JJ JJ
commodity NN NN
plastics NNS NNS
that IN WDT
pervade : VBP
modern JJ JJ
life NN NN
. . .
<s>
Having VBG VBG
just RB RB
passed VBN VBN
through IN IN
one CD CD
of IN IN
the DT DT
most RBS RBS
profitable JJ JJ
periods NNS NNS
in IN IN
their PRP$ PRP$
history NN NN
, , ,
these DT DT
producers NNS NNS
now RB RB
see VBP VBP
their PRP$ PRP$
prices NNS NNS
eroding VBG VBG
. . .
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Pricing NN NN
cycles NNS NNS
, , ,
to TO TO
be VB VB
sure JJ JJ
, , ,
are VBP VBP
nothing NN NN
new JJ JJ
for IN IN
plastics NNS NNS
producers NNS NNS
. . .
<s>
And CC CC
the DT DT
financial JJ JJ
decline NN NN
of IN IN
some DT DT
looks VBZ VBZ
steep JJ JJ
only RB RB
in IN IN
comparison NN NN
with IN IN
the DT DT
heady JJ JJ
period NN NN
that WDT WDT
is VBZ VBZ
just RB RB
behind IN IN
them PRP PRP
. . .
<s>
`` `` ``
We PRP PRP
were VBD VBD
all DT DT
wonderful JJ JJ
heroes NNS NNS
last JJ JJ
year NN NN
, , ,
'' '' ''
says VBZ VBZ
an DT DT
executive NN NN
at IN IN
one CD CD
of IN IN
Quantum NNP NNP
's POS POS
competitors NNS NNS
. . .
<s>
`` `` ``
Now RB RB
we PRP PRP
're VBP VBP
at IN IN
the DT DT
bottom NN NN
of IN IN
the DT DT
heap NN NN
. . .
<s>
'' '' ''
At IN IN
Quantum NNP NNP
, , ,
which WDT WDT
is VBZ VBZ
based VBN VBN
in IN IN
New NNP NNP
York NNP NNP
, , ,
the DT DT
trouble NN NN
is VBZ VBZ
magnified VBN VBN
by IN IN
the DT DT
company NN NN
's POS POS
heavy JJ JJ
dependence NN NN
on IN IN
plastics NNS NNS
. . .
<s>
Once RB RB
known VBN VBN
as IN IN
National NNP NNP
Distillers NNPS NNP
& CC CC
Chemical NNP NNP
Corp. NNP NNP
, , ,
the DT DT
company NN NN
exited VBD VBD
the DT DT
wine NN NN
and CC CC
spirits NNS NNS
business NN NN
and CC CC
plowed VBN VBD
more JJR JJR
of IN IN
its PRP$ PRP$
resources NNS NNS
into IN IN
plastics NNS NNS
after IN IN
Mr. NNP NNP
Stookey NNP NNP
took VBD VBD
the DT DT
chief JJ JJ
executive NN NN
's POS POS
job NN NN
in IN IN
1986 CD CD
. . .
<s>
Mr. NNP NNP
Stookey NNP NNP
, , ,
59 CD CD
years NNS NNS
old JJ JJ
, , ,
declined VBD VBD
to TO TO
be VB VB
interviewed VBN VBN
for IN IN
this DT DT
article NN NN
, , ,
but CC CC
he PRP PRP
has VBZ VBZ
consistently RB RB
argued VBN VBN
that IN IN
over IN IN
the DT DT
long JJ JJ
haul NN NN
-- : :
across IN IN
both DT DT
the DT DT
peaks NNS NNS
and CC CC
the DT DT
troughs NNS NNS
of IN IN
the DT DT
plastics NNS NNS
market NN NN
-- : :
Quantum NNP NNP
will MD MD
prosper VB VB
through IN IN
its PRP$ PRP$
new JJ JJ
direction NN NN
. . .
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Quantum NNP NNP
's POS POS
lot NN NN
is VBZ VBZ
mostly RB RB
tied VBN VBN
to TO TO
polyethylene NN NN
resin NN NN
, , ,
used VBN VBN
to TO TO
make VB VB
garbage NN NN
bags NNS NNS
, , ,
milk NN NN
jugs NNS NNS
, , ,
housewares NNS NNS
, , ,
toys NNS NNS
and CC CC
meat NN NN
packaging NN NN
, , ,
among IN IN
other JJ JJ
items NNS NNS
. . .
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In IN IN
the DT DT
U.S. NNP NNP
polyethylene NN NN
market NN NN
, , ,
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has VBZ VBZ
claimed VBN VBN
the DT DT
largest JJS JJS
share NN NN
, , ,
about RB RB
20 CD CD
% NN NN
. . .
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But CC CC
its PRP$ PRP$
competitors NNS NNS
-- : :
including VBG VBG
Dow NNP NNP
Chemical NNP NNP
Co. NNP NNP
, , ,
Union NNP NNP
Carbide NNP NNP
Corp. NNP NNP
and CC CC
several JJ JJ
oil NN NN
giants NNS NNS
-- : :
have VBP VBP
much RB RB
broader JJR JJR
business NN NN
interests NNS NNS
and CC CC
so RB RB
are VBP VBP
better RBR RBR
cushioned VBN VBN
against IN IN
price NN NN
swings NNS NNS
. . .
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When WRB WRB
the DT DT
price NN NN
of IN IN
polyethylene NN NN
moves VBZ VBZ
a DT DT
mere JJ JJ
penny NN NN
a DT DT
pound NN NN
, , ,
Quantum NNP NNP
's POS POS
annual JJ JJ
profit NN NN
fluctuates NNS VBZ
by IN IN
about RB RB
85 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
provided VBN VBN
no DT DT
other JJ JJ
variables NNS NNS
are VBP VBP
changing VBG VBG
. . .
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In IN IN
recent JJ JJ
months NNS NNS
the DT DT
price NN NN
of IN IN
polyethylene NN NN
, , ,
even RB RB
more RBR RBR
than IN IN
that DT DT
of IN IN
other JJ JJ
commodity NN NN
plastics NNS NNS
, , ,
has VBZ VBZ
taken VBN VBN
a DT DT
dive NN NN
. . .
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Benchmark NNP JJ
grades NNS NNS
, , ,
which WDT WDT
still RB RB
sold VBD VBD
for IN IN
as RB RB
much JJ JJ
as IN IN
50 CD CD
cents NNS NNS
a DT DT
pound NN NN
last JJ JJ
spring NN NN
, , ,
have VBP VBP
skidded VBD VBN
to TO TO
between IN IN
35 CD CD
cents NNS NNS
and CC CC
40 CD CD
cents NNS NNS
. . .
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Meanwhile RB RB
, , ,
the DT DT
price NN NN
of IN IN
ethylene NN NN
, , ,
the DT DT
chemical NN JJ
building NN NN
block NN NN
of IN IN
polyethylene NN NN
, , ,
has VBZ VBZ
n't RB RB
dropped VBN VBN
nearly RB RB
so RB RB
fast RB RB
. . .
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That DT DT
discrepancy NN NN
hurts VBZ VBZ
Quantum NNP NNP
badly RB RB
, , ,
because IN IN
its PRP$ PRP$
own JJ JJ
plants NNS NNS
cover VBP VBP
only RB RB
about IN RB
half NN NN
of IN IN
its PRP$ PRP$
ethylene NN NN
needs NNS NNS
. . .
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By IN IN
many JJ JJ
accounts NNS NNS
, , ,
an DT DT
early JJ JJ
hint NN NN
of IN IN
a DT DT
price NN NN
rout NN NN
in IN IN
the DT DT
making NN NN
came VBD VBD
at IN IN
the DT DT
start NN NN
of IN IN
this DT DT
year NN NN
. . .
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China NNP NNP
, , ,
which WDT WDT
had VBD VBD
been VBN VBN
putting VBG VBG
in IN RP
huge JJ JJ
orders NNS NNS
for IN IN
polyethylene NN NN
, , ,
abruptly RB RB
halted VBD VBD
them PRP PRP
. . .
<s>
Calculating VBG VBG
that DT DT
excess JJ JJ
polyethylene NN NN
would MD MD
soon RB RB
be VB VB
sloshing VBG VBG
around IN IN
the DT DT
world NN NN
, , ,
other JJ JJ
buyers NNS NNS
then RB RB
bet VBD VBD
that IN IN
prices NNS NNS
had VBD VBD
peaked VBN JJ
and CC CC
so RB RB
began VBD VBD
to TO TO
draw VB VB
down RP RP
inventories NNS NNS
rather RB RB
than IN IN
order VB VB
new JJ JJ
product NN NN
. . .
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Kenneth NNP NNP
Mitchell NNP NNP
, , ,
director NN NN
of IN IN
Dow NNP NNP
's POS POS
polyethylene NN NN
business NN NN
, , ,
says VBZ VBZ
producers NNS NNS
were VBD VBD
surprised VBN VBN
to TO TO
learn VB VB
how WRB WRB
much JJ RB
inventories NNS NNS
had VBD VBD
swelled VBN VBN
throughout IN IN
the DT DT
distribution NN NN
chain NN NN
as IN IN
prices NNS NNS
spiraled VBD VBD
up RP RB
. . .
<s>
`` `` ``
People NNS NNS
were VBD VBD
even RB RB
hoarding VBG VBG
bags NNS NNS
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
Now RB RB
producers NNS NNS
hope VBP VBP
prices NNS NNS
have VBP VBP
hit VBN VBN
bottom NN NN
. . .
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They PRP PRP
recently RB RB
announced VBD VBD
increases NNS NNS
of IN IN
a DT DT
few JJ JJ
cents NNS NNS
a DT DT
pound NN NN
to TO TO
take VB VB
effect NN NN
in IN IN
the DT DT
next JJ JJ
several JJ JJ
weeks NNS NNS
. . .
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No DT DT
one NN NN
knows VBZ VBZ
, , ,
however RB RB
, , ,
whether IN IN
the DT DT
new JJ JJ
posted VBD JJ
prices NNS NNS
will MD MD
stick VB VB
once IN IN
producers NNS NNS
and CC CC
customers NNS NNS
start VBP VBP
to TO TO
haggle : VB
. . .
<s>
One CD CD
doubter NN NN
is VBZ VBZ
George NNP NNP
Krug NNP NNP
, , ,
a DT DT
chemical-industry NN NN
analyst NN NN
at IN IN
Oppenheimer NNP NNP
& CC CC
Co. NNP NNP
and CC CC
a DT DT
bear NN NN
on IN IN
plastics NNS NNS
stocks NNS NNS
. . .
<s>
Noting VBG VBG
others NNS NNS
' POS POS
estimates NNS NNS
of IN IN
when WRB WRB
price NN NN
increases NNS NNS
can MD MD
be VB VB
sustained VBN VBN
, , ,
he PRP PRP
remarks VBZ VBZ
, , ,
`` `` ``
Some DT DT
say VBP VBP
October NNP NNP
. . .
<s>
Some DT DT
say VBP VBP
November NNP NNP
. . .
<s>
I PRP PRP
say VBP VBP
1992 CD CD
. . .
<s>
'' '' ''
He PRP PRP
argues VBZ VBZ
that IN IN
efforts NNS NNS
to TO TO
firm VB VB
up RP RP
prices NNS NNS
will MD MD
be VB VB
undermined VBN VBN
by IN IN
producers NNS NNS
' POS POS
plans NNS NNS
to TO TO
expand VB VB
production NN NN
capacity NN NN
. . .
<s>
A DT DT
quick JJ JJ
turnaround NN NN
is VBZ VBZ
crucial JJ JJ
to TO TO
Quantum NNP NNP
because IN IN
its PRP$ PRP$
cash NN NN
requirements NNS NNS
remain VBP VBP
heavy JJ JJ
. . .
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been VBN VBN
notoriously RB RB
managed VBN VBN
, , ,
subsidized VBN VBN
and CC CC
protected VBN VBN
by IN IN
governments NNS NNS
. . .
<s>
The DT DT
U.S. NNP NNP
termed VBD VBD
its PRP$ PRP$
plan NN NN
, , ,
a DT DT
`` `` ``
trade NN NN
liberalization NN NN
program NN NN
, , ,
'' '' ''
despite IN IN
the DT DT
fact NN NN
that IN IN
it PRP PRP
is VBZ VBZ
merely RB RB
an DT DT
extension NN NN
. . .
<s>
Mexico NNP NNP
, , ,
which WDT WDT
was VBD VBD
one CD CD
of IN IN
the DT DT
first JJ JJ
countries NNS NNS
to TO TO
conclude VB VB
its PRP$ PRP$
steel NN NN
talks NNS NNS
with IN IN
the DT DT
U.S. NNP NNP
, , ,
virtually RB RB
doubled VBD VBD
its PRP$ PRP$
quota NN NN
to TO TO
0.95 CD CD
% NN NN
of IN IN
the DT DT
U.S. NNP NNP
steel NN NN
market NN NN
from IN IN
0.48 CD CD
% NN NN
under IN IN
the DT DT
previous JJ JJ
quotas NNS NNS
. . .
<s>
South NNP NNP
Korea NNP NNP
, , ,
which WDT WDT
had VBD VBD
1.9 CD CD
% NN NN
under IN IN
the DT DT
previous JJ JJ
quotas NNS NNS
, , ,
is VBZ VBZ
set VBN VBN
to TO TO
get VB VB
a DT DT
small JJ JJ
increase NN NN
to TO TO
about RB RB
1.95 CD CD
% NN NN
. . .
<s>
That DT DT
increase NN NN
rises VBZ VBZ
to TO TO
slightly RB RB
more JJR JJR
than IN IN
2 CD CD
% NN NN
of IN IN
the DT DT
U.S. NNP NNP
market NN NN
if IN IN
a DT DT
joint JJ JJ
Korean-U.S. NNP NNP
steel NN NN
project NN NN
is VBZ VBZ
included VBN VBN
. . .
<s>
Meanwhile RB RB
, , ,
Brazil NNP NNP
is VBZ VBZ
expected VBN VBN
to TO TO
increase VB VB
its PRP$ PRP$
allowance NN NN
from IN IN
the DT DT
1.43 CD CD
% NN NN
share NN NN
it PRP PRP
has VBZ VBZ
had VBN VBN
in IN IN
recent JJ JJ
years NNS NNS
. . .
<s>
The DT DT
EC NNP NNP
and CC CC
Japan NNP NNP
-- : :
the DT DT
U.S. NNP NNP
's POS POS
largest JJS JJS
steel NN NN
suppliers NNS NNS
-- : :
have VBP VBP
n't RB RB
been VBN VBN
filling VBG VBG
their PRP$ PRP$
quotas NNS NNS
to TO TO
the DT DT
full JJ JJ
extent NN NN
. . .
<s>
The DT DT
EC NNP NNP
steel NN NN
industry NN NN
, , ,
which WDT WDT
has VBZ VBZ
been VBN VBN
coping VBG VBG
with IN IN
strong JJ JJ
European JJ JJ
demand NN NN
, , ,
has VBZ VBZ
been VBN VBN
supplying VBG VBG
about IN RB
5 CD CD
% NN NN
of IN IN
the DT DT
U.S. NNP NNP
market NN NN
compared VBN VBN
with IN IN
recent JJ JJ
quotas NNS NNS
of IN IN
about RB RB
6.7 CD CD
% NN NN
. . .
<s>
Japan NNP NNP
has VBZ VBZ
been VBN VBN
shipping VBG VBG
steel NN NN
to TO TO
total VB VB
about RB RB
4.5 CD CD
% NN NN
of IN IN
the DT DT
U.S. NNP NNP
market NN NN
compared VBN VBN
with IN IN
a DT DT
quota NN NN
of IN IN
5.9 CD CD
% NN NN
. . .
<s>
In IN IN
the DT DT
recent JJ JJ
talks NNS NNS
, , ,
the DT DT
EC NNP NNP
had VBD VBD
its PRP$ PRP$
quota NN NN
increased VBD VBN
about IN RB
300,000 CD CD
tons NNS NNS
, , ,
to TO TO
7 CD CD
% NN NN
of IN IN
the DT DT
U.S. NNP NNP
market NN NN
from IN IN
6.7 CD CD
% NN NN
in IN IN
1988 CD CD
. . .
<s>
But CC CC
its PRP$ PRP$
quota NN NN
has VBZ VBZ
been VBN VBN
as RB RB
high JJ JJ
as IN IN
6.9 CD CD
% NN NN
in IN IN
1984 CD CD
. . .
<s>
Japan NNP NNP
, , ,
however RB RB
, , ,
has VBZ VBZ
agreed VBN VBN
to TO TO
cut VB VB
its PRP$ PRP$
quota NN NN
to TO TO
about IN RB
5 CD CD
% NN NN
from IN IN
5.9 CD CD
% NN NN
previously RB RB
. . .
<s>
Japan NNP NNP
, , ,
the DT DT
EC NNP NNP
, , ,
Brazil NNP NNP
, , ,
Mexico NNP NNP
and CC CC
South NNP NNP
Korea NNP NNP
provide VBP VBP
about IN RB
80 CD CD
% NN NN
of IN IN
the DT DT
steel NN NN
imported VBN VBN
to TO TO
the DT DT
U.S. NNP NNP
under IN IN
the DT DT
quota NN NN
program NN NN
. . .
<s>
The DT DT
balance NN NN
is VBZ VBZ
supplied VBN VBN
by IN IN
a DT DT
host NN NN
of IN IN
smaller JJR JJR
exporters NNS NNS
, , ,
such JJ JJ
as IN IN
Australia NNP NNP
and CC CC
Venezuela NNP NNP
. . .
<s>
The DT DT
U.S. NNP NNP
had VBD VBD
about IN RB
an DT DT
extra JJ JJ
2 CD CD
% NN NN
of IN IN
the DT DT
domestic JJ JJ
steel NN NN
market NN NN
to TO TO
give VB VB
to TO TO
foreign JJ JJ
suppliers NNS NNS
in IN IN
its PRP$ PRP$
quota NN NN
talks NNS NNS
. . .
<s>
That DT DT
was VBD VBD
essentially RB RB
made VBN VBN
up RP RP
of IN IN
a DT DT
1 CD CD
% NN NN
increase NN NN
in IN IN
the DT DT
overall JJ JJ
quota NN NN
program NN NN
and CC CC
1 CD CD
% NN NN
from IN IN
cutting VBG VBG
Japan NNP NNP
's POS POS
allowance NN NN
. . .
<s>
Negotiators NNS NNS
from IN IN
the DT DT
White NNP NNP
House NNP NNP
trade NN NN
office NN NN
will MD MD
repeat VB VB
these DT DT
quota NN NN
negotiations NNS NNS
next JJ IN
year NN NN
when WRB WRB
they PRP PRP
will MD MD
have VB VB
another DT DT
1 CD CD
% NN NN
of IN IN
the DT DT
U.S. NNP NNP
steel NN NN
market NN NN
to TO TO
allocate VB VB
. . .
<s>
These DT DT
optional JJ JJ
1%-a-year JJ JJ
increases NNS NNS
to TO TO
the DT DT
steel NN NN
quota NN NN
program NN NN
are VBP VBP
built VBN VBN
into IN IN
the DT DT
Bush NNP NNP
administration NN NN
's POS POS
steel-quota JJ NN
program NN NN
to TO TO
give VB VB
its PRP$ PRP$
negotiators NNS NNS
leverage NN NN
with IN IN
foreign JJ JJ
steel NN NN
suppliers NNS NNS
to TO TO
try VB VB
to TO TO
get VB VB
them PRP PRP
to TO TO
withdraw VB VB
subsidies NNS NNS
and CC CC
protectionism NN NN
from IN IN
their PRP$ PRP$
own JJ JJ
steel NN NN
industries NNS NNS
. . .
<s>
Elcotel NNP NNP
Inc. NNP NNP
expects VBZ VBZ
fiscal JJ JJ
second-quarter JJ JJ
earnings NNS NNS
to TO TO
trail VB VB
1988 CD CD
results NNS NNS
, , ,
but CC CC
anticipates VBZ VBZ
that IN IN
several JJ JJ
new JJ JJ
products NNS NNS
will MD MD
lead VB VB
to TO TO
a DT DT
`` `` ``
much RB RB
stronger JJR JJR
'' '' ''
performance NN NN
in IN IN
its PRP$ PRP$
second JJ JJ
half NN NN
. . .
<s>
Elcotel NNP NNP
, , ,
a DT DT
telecommunications NNS NN
company NN NN
, , ,
had VBD VBD
net JJ JJ
income NN NN
of IN IN
$ $ $
272,000 CD CD
, , ,
or CC CC
five CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
in IN IN
its PRP$ PRP$
year-earlier JJ JJ
second JJ NN
quarter NN NN
, , ,
ended VBN VBN
Sept. NNP NNP
30 CD CD
. . .
<s>
Revenue NN NN
totaled VBD VBD
$ $ $
5 CD CD
million CD CD
. . .
<s>
George NNP NNP
Pierce NNP NNP
, , ,
chairman NN NN
and CC CC
chief JJ JJ
executive NN JJ
officer NN NN
, , ,
said VBD VBD
in IN IN
an DT DT
interview NN NN
that IN IN
earnings NNS NNS
in IN IN
the DT DT
most RBS RBS
recent JJ JJ
quarter NN NN
will MD MD
be VB VB
about IN RB
two CD CD
cents NNS NNS
a DT DT
share NN NN
on IN IN
revenue NN NN
of IN IN
just RB RB
under IN IN
$ $ $
4 CD CD
million CD CD
. . .
<s>
The DT DT
lower JJR JJR
results NNS NNS
, , ,
Mr. NNP NNP
Pierce NNP NNP
said VBD VBD
, , ,
reflect VBP VBP
a DT DT
12-month JJ JJ
decline NN NN
in IN IN
industry NN NN
sales NNS NNS
of IN IN
privately RB RB
owned VBN VBN
pay NN NN
telephones NNS NNS
, , ,
Elcotel NNP NNP
's POS POS
primary JJ JJ
business NN NN
. . .
<s>
Although IN IN
Mr. NNP NNP
Pierce NNP NNP
expects VBZ VBZ
that DT IN
line NN NN
of IN IN
business NN NN
to TO TO
strengthen VB VB
in IN IN
the DT DT
next JJ JJ
year NN NN
, , ,
he PRP PRP
said VBD VBD
Elcotel NNP NNP
will MD MD
also RB RB
benefit VB VB
from IN IN
moving VBG VBG
into IN IN
other JJ JJ
areas NNS NNS
. . .
<s>
Foremost NN RB
among IN IN
those DT DT
is VBZ VBZ
the DT DT
company NN NN
's POS POS
entrance NN NN
into IN IN
the DT DT
public JJ JJ
facsimile NN NN
business NN NN
, , ,
Mr. NNP NNP
Pierce NNP NNP
said VBD VBD
. . .
<s>
Within IN IN
the DT DT
next JJ JJ
year NN NN
, , ,
Elcotel NNP NNP
expects VBZ VBZ
to TO TO
place VB VB
10,000 CD CD
fax NN NN
machines NNS NNS
, , ,
made VBN VBN
by IN IN
Minolta NNP NNP
in IN IN
Japan NNP NNP
, , ,
in IN IN
hotels NNS NNS
, , ,
municipal JJ JJ
buildings NNS NNS
, , ,
drugstores NNS NNS
and CC CC
other JJ JJ
public JJ JJ
settings NNS NNS
around IN IN
the DT DT
country NN NN
. . .
<s>
Elcotel NNP NNP
will MD MD
provide VB VB
a DT DT
credit-card NN NN
reader NN NN
for IN IN
the DT DT
machines NNS NNS
to TO TO
collect VB VB
, , ,
store NN VB
and CC CC
forward RB VB
billing VBG NN
data NNS NNS
. . .
<s>
Mr. NNP NNP
Pierce NNP NNP
said VBD VBD
Elcotel NNP NNP
should MD MD
realize VB VB
a DT DT
minimum NN NN
of IN IN
$ $ $
10 CD CD
of IN IN
recurring VBG VBG
net JJ JJ
earnings NNS NNS
for IN IN
each DT DT
machine NN NN
each DT DT
month NN NN
. . .
<s>
Elcotel NNP NNP
has VBZ VBZ
also RB RB
developed VBN VBN
an DT DT
automatic JJ JJ
call NN NN
processor NN NN
that WDT WDT
will MD MD
make VB VB
further JJ JJ
use NN NN
of IN IN
the DT DT
company NN NN
's POS POS
system NN NN
for IN IN
automating VBG VBG
and CC CC
handling VBG VBG
credit-card NN NN
calls NNS NNS
and CC CC
collect VB JJ
calls NNS NNS
. . .
<s>
Automatic NNP JJ
call VBP NN
processors NNS NNS
will MD MD
provide VB VB
that DT DT
system NN NN
for IN IN
virtually RB RB
any DT DT
telephone NN NN
, , ,
Mr. NNP NNP
Pierce NNP NNP
said VBD VBD
, , ,
not RB RB
just RB RB
phones NNS VBZ
produced VBN VBN
by IN IN
Elcotel NNP NNP
. . .
<s>
The DT DT
company NN NN
will MD MD
also RB RB
be VB VB
producing VBG VBG
a DT DT
new JJ JJ
line NN NN
of IN IN
convenience NN NN
telephones NNS NNS
, , ,
which WDT WDT
do VBP VBP
n't RB RB
accept VB VB
coins NNS NNS
, , ,
for IN IN
use NN NN
in IN IN
hotel NN NN
lobbies NNS NNS
, , ,
office NN NN
lobbies NNS NNS
, , ,
hospitality NN NN
lounges NNS NNS
and CC CC
similar JJ JJ
settings NNS NNS
. . .
<s>
Mr. NNP NNP
Pierce NNP NNP
estimated VBD VBD
that IN IN
the DT DT
processors NNS NNS
and CC CC
convenience NN NN
phones NNS NNS
would MD MD
produce VB VB
about IN RB
$ $ $
5 CD CD
of IN IN
recurring VBG VBG
net JJ JJ
earnings NNS NNS
for IN IN
each DT DT
machine NN NN
each DT DT
month NN NN
. . .
<s>
Britain NNP NNP
's POS POS
retail JJ JJ
price NN NN
index NN NN
rose VBD VBD
0.7 CD CD
% NN NN
in IN IN
September NNP NNP
from IN IN
August NNP NNP
and CC CC
was VBD VBD
up RB RB
7.6 CD CD
% NN NN
for IN IN
the DT DT
year NN NN
, , ,
the DT DT
Central NNP NNP
Statistical NNP NNP
Office NNP NNP
said VBD VBD
. . .
<s>
Quest NNP NNP
Medical NNP NNP
Inc. NNP NNP
said VBD VBD
it PRP PRP
adopted VBD VBD
a DT DT
shareholders NNS NNS
' POS POS
rights NNS NNS
plan NN NN
in IN IN
which WDT WDT
rights NNS NNS
to TO TO
purchase VB VB
shares NNS NNS
of IN IN
common JJ JJ
stock NN NN
will MD MD
be VB VB
distributed VBN VBN
as IN IN
a DT DT
dividend NN NN
to TO TO
shareholders NNS NNS
of IN IN
record NN NN
as IN IN
of IN IN
Oct. NNP NNP
23 CD CD
. . .
<s>
The DT DT
company NN NN
said VBD VBD
the DT DT
plan NN NN
was VBD VBD
n't RB RB
adopted VBN VBN
in IN IN
response NN NN
to TO TO
any DT DT
known VBN VBN
offers NNS NNS
for IN IN
Quest NNP NNP
, , ,
a DT DT
maker NN NN
and CC CC
marketer NN NN
of IN IN
hospital NN NN
products NNS NNS
. . .
<s>
The DT DT
rights NNS NNS
allow VBP VBP
shareholders NNS NNS
to TO TO
purchase VB VB
Quest NNP NNP
stock NN NN
at IN IN
a DT DT
discount NN NN
if IN IN
any DT DT
person NN NN
or CC CC
group NN NN
acquires VBZ VBZ
more JJR JJR
than IN IN
15 CD CD
% NN NN
of IN IN
the DT DT
company NN NN
's POS POS
common JJ JJ
stock NN NN
or CC CC
announces VBZ VBZ
a DT DT
tender NN NN
offer NN NN
. . .
<s>
Measuring VBG NN
cups NNS NNS
may MD MD
soon RB RB
be VB VB
replaced VBN VBN
by IN IN
tablespoons NNS NNS
in IN IN
the DT DT
laundry NN NN
room NN NN
. . .
<s>
Procter NNP NNP
& CC CC
Gamble NNP NNP
Co. NNP NNP
plans VBZ VBZ
to TO TO
begin VB VB
testing VBG VBG
next JJ JJ
month NN NN
a DT DT
superconcentrated JJ JJ
detergent NN NN
that WDT WDT
will MD MD
require VB VB
only RB RB
a DT DT
few JJ JJ
spoonfuls NNS NNS
per IN IN
washload : NN
. . .
<s>
The DT DT
move NN NN
stems VBZ VBZ
from IN IN
lessons NNS NNS
learned VBN VBN
in IN IN
Japan NNP NNP
where WRB WRB
local JJ JJ
competitors NNS NNS
have VBP VBP
had VBN VBD
phenomenal JJ JJ
success NN NN
with IN IN
concentrated VBN JJ
soapsuds NNS NNS
. . .
<s>
It PRP PRP
also RB RB
marks VBZ VBZ
P&G NNP NNP
's POS POS
growing VBG VBG
concern NN NN
that IN IN
its PRP$ PRP$
Japanese JJ JJ
rivals NNS NNS
, , ,
such JJ JJ
as IN IN
Kao NNP NNP
Corp. NNP NNP
, , ,
may MD MD
bring VB VB
their PRP$ PRP$
superconcentrates NNS NNS
to TO TO
the DT DT
U.S. NNP NNP
. . .
<s>
The DT DT
Cincinnati NNP NNP
consumer-products NNS NNS
giant JJ NN
got VBD VBD
clobbered VBN VBN
two CD CD
years NNS NNS
ago RB RB
in IN IN
Japan NNP NNP
when WRB WRB
Kao NNP NNP
introduced VBD VBD
a DT DT
powerful JJ JJ
detergent NN NN
, , ,
called VBN VBN
Attack NN NNP
, , ,
which WDT WDT
quickly RB RB
won VBD VBD
a DT DT
30 CD CD
% NN NN
stake NN NN
in IN IN
the DT DT
Japanese JJ JJ
markets NNS NNS
. . .
<s>
`` `` ``
They PRP PRP
do VBP VBP
n't RB RB
want VB VB
to TO TO
get VB VB
caught VBN VBN
again RB RB
, , ,
'' '' ''
says VBZ VBZ
one CD CD
industry NN NN
watcher NN NN
. . .
<s>
Retailers NNS NNP
in IN IN
Phoenix NNP NNP
, , ,
Ariz. NNP NNP
, , ,
say VBP VBP
P&G NNP NNP
's POS POS
new JJ JJ
powdered JJ JJ
detergent NN NN
-- : :
to TO TO
be VB VB
called VBN VBN
Cheer NNP NNP
with IN IN
Color NNP NNP
Guard NNP NNP
-- : :
will MD MD
be VB VB
on IN IN
shelves NNS NNS
in IN IN
that DT DT
market NN NN
by IN IN
early JJ JJ
November NNP NNP
. . .
<s>
A DT DT
P&G NNP NNP
spokeswoman NN NN
confirmed VBD VBD
that IN IN
shipments NNS NNS
to TO TO
Phoenix NNP NNP
started VBD VBD
late RB RB
last JJ JJ
month NN NN
. . .
<s>
She PRP PRP
said VBD VBD
the DT DT
company NN NN
will MD MD
study VB VB
results NNS NNS
from IN IN
this DT DT
market NN NN
before IN IN
expanding VBG VBG
to TO TO
others NNS NNS
. . .
<s>
Superconcentrates NNS NNS
are VBP VBP
n't RB RB
entirely RB RB
new JJ JJ
for IN IN
P&G NNP NNP
. . .
<s>
The DT DT
company NN NN
introduced VBD VBD
a DT DT
superconcentrated : JJ
Lemon NNP NNP
Cheer NNP NNP
in IN IN
Japan NNP NNP
after IN IN
watching VBG VBG
the DT DT
success NN NN
of IN IN
Attack NN NNP
. . .
<s>
When WRB WRB
Attack NN NNP
hit VBD VBD
the DT DT
shelves NNS NNS
in IN IN
1987 CD CD
, , ,
P&G NNP NNP
's POS POS
share NN NN
of IN IN
the DT DT
Japanese JJ JJ
market NN NN
fell VBD VBD
to TO TO
about IN RB
8 CD CD
% NN NN
from IN IN
more JJR JJR
than IN IN
20 CD CD
% NN NN
. . .
<s>
With IN IN
the DT DT
help NN NN
of IN IN
Lemon NNP NNP
Cheer NNP NNP
, , ,
P&G NNP NNP
's POS POS
share NN NN
is VBZ VBZ
now RB RB
estimated VBN VBN
to TO TO
be VB VB
12 CD CD
% NN NN
. . .
<s>
While IN IN
the DT DT
Japanese NNS NNPS
have VBP VBP
embraced VBN VBN
the DT DT
compact JJ JJ
packaging NN NN
and CC CC
convenience NN NN
of IN IN
concentrated VBN JJ
products NNS NNS
, , ,
the DT DT
true JJ JJ
test NN NN
for IN IN
P&G NNP NNP
will MD MD
be VB VB
in IN IN
the DT DT
$ $ $
4 CD CD
billion CD CD
U.S. NNP NNP
detergent NN NN
market NN NN
, , ,
where WRB WRB
growth NN NN
is VBZ VBZ
slow JJ JJ
and CC CC
liquids NNS NNS
have VBP VBP
gained VBN VBN
prominence NN NN
over IN IN
powders NNS NNS
. . .
<s>
The DT DT
company NN NN
may MD MD
have VB VB
chosen VBN VBN
to TO TO
market VB VB
the DT DT
product NN NN
under IN IN
the DT DT
Cheer NNP NNP
name NN NN
since IN IN
it PRP PRP
's VBZ VBZ
already RB RB
expanded VBN VBN
its PRP$ PRP$
best-selling JJS JJ
Tide NNP NNP
into IN IN
16 CD CD
different JJ JJ
varieties NNS NNS
, , ,
including VBG VBG
this DT DT
year NN NN
's POS POS
big JJ JJ
hit NN NN
, , ,
Tide NNP NNP
with IN IN
Bleach NNP NN
. . .
<s>
With IN IN
superconcentrates NNS NNS
, , ,
however RB RB
, , ,
it PRP PRP
is VBZ VBZ
n't RB RB
always RB RB
easy JJ JJ
to TO TO
persuade VB VB
consumers NNS NNS
that IN WDT
less JJR JJR
is VBZ VBZ
more RBR JJR
; : :
many JJ JJ
people NNS NNS
tend VBP VBP
to TO TO
dump VB VB
too RB RB
much JJ JJ
detergent NN NN
into IN IN
the DT DT
washing VBG NN
machine NN NN
, , ,
believing VBG VBG
that IN IN
it PRP PRP
takes VBZ VBZ
a DT DT
cup NN NN
of IN IN
powder NN NN
to TO TO
really RB RB
clean VB VB
the DT DT
laundry NN NN
. . .
<s>
In IN IN
the DT DT
early JJ JJ
1980s CD NNS
, , ,
P&G NNP NNP
tried VBD VBD
to TO TO
launch VB VB
here RB RB
a DT DT
concentrated JJ JJ
detergent NN NN
under IN IN
the DT DT
Ariel NNP NNP
brand NN NN
name NN NN
that IN IN
it PRP PRP
markets VBZ VBZ
in IN IN
Europe NNP NNP
. . .
<s>
But CC CC
the DT DT
product NN NN
, , ,
which WDT WDT
was VBD VBD
n't RB RB
as RB RB
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of IN IN
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from IN IN
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for IN IN
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over IN IN
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with IN IN
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at IN IN
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of IN IN
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of IN IN
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in IN IN
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on IN IN
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stressed VBD VBD
that IN IN
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for IN IN
months NNS NNS
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and CC CC
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officials NNS NNS
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for IN IN
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in IN IN
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on IN IN
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of IN IN
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. . .
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it PRP PRP
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in IN IN
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over IN IN
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of IN IN
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as IN IN
a DT DT
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with IN IN
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at IN IN
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I PRP PRP
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on IN IN
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imbalance NN NN
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her PRP$ PRP$
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for IN IN
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his PRP$ PRP$
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I PRP PRP
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see VB VB
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you PRP PRP
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of IN IN
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for IN IN
years NNS NNS
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of IN IN
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did VBD VBD
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results NNS NNS
. . .
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In IN IN
the DT DT
latest JJS JJS
nine CD CD
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was VBD VBD
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, , ,
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on IN IN
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the DT DT
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in IN IN
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for IN IN
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the DT DT
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by IN IN
two CD CD
units NNS NNS
of IN IN
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of IN IN
the DT DT
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$ $ $
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purchase NN NN
price NN NN
and CC CC
cancellation NN NN
of IN IN
a DT DT
software NN NN
license NN NN
provided VBN VBN
by IN IN
the DT DT
Morris NNP NNP
units NNS NNS
to TO TO
Information NNP NNP
International NNP NNP
for IN IN
alleged JJ JJ
failure NN NN
to TO TO
pay VB VB
royalties NNS NNS
. . .
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Information NN NNP
International NNP NNP
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it PRP PRP
believes VBZ VBZ
that IN IN
the DT DT
complaints NNS NNS
, , ,
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in IN IN
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in IN IN
Georgia NNP NNP
, , ,
are VBP VBP
without IN IN
merit NN NN
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<s>
Closely RB RB
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Morris NNP NNP
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is VBZ VBZ
based VBN VBN
in IN IN
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, , ,
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. . .
<s>
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that WDT WDT
filed VBD VBD
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are VBP VBP
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and CC CC
Florida NNP NNP
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Co NNP NNP
. . .
<s>
Syms : NNP
Corp. NNP NNP
completed VBD VBD
the DT DT
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of IN IN
its PRP$ PRP$
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& CC CC
Co. NNP NNP
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to TO TO
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. . .
<s>
Terms NNS NNS
were VBD VBD
n't RB RB
disclosed VBN VBN
. . .
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As IN IN
Syms : NNP
's POS POS
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core NN JJ
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of IN IN
off-price JJ JJ
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that WDT WDT
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becomes VBZ VBZ
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difficult JJ JJ
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, , ,
'' '' ''
said VBD VBD
Marcy NNP NNP
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, , ,
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of IN IN
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, , ,
in IN IN
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. . .
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A DT DT
spokeswoman NN NN
said VBD VBD
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of IN IN
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stores NNS NNS
in IN IN
the DT DT
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and CC CC
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. . .
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25 CD CD
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stores NNS NNS
in IN IN
the DT DT
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. . .
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The DT DT
oil NN NN
industry NN NN
's POS POS
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profits NNS NNS
could MD MD
persist VB VB
through IN IN
the DT DT
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of IN IN
the DT DT
year NN NN
. . .
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Major JJ JJ
oil NN NN
companies NNS NNS
in IN IN
the DT DT
next JJ JJ
few JJ JJ
days NNS NNS
are VBP VBP
expected VBN VBN
to TO TO
report VB VB
much RB RB
less JJR RBR
robust JJ JJ
earnings NNS NNS
than IN IN
they PRP PRP
did VBD VBD
for IN IN
the DT DT
third JJ JJ
quarter NN NN
a DT DT
year NN NN
ago RB RB
, , ,
largely RB RB
reflecting VBG VBG
deteriorating VBG VBG
chemical NN NN
prices NNS NNS
and CC CC
gasoline NN NN
profitability NN NN
. . .
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The DT DT
gasoline NN NN
picture NN NN
may MD MD
improve VB VB
this DT DT
quarter NN NN
, , ,
but CC CC
chemicals NNS NNS
are VBP VBP
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and CC CC
analysts NNS NNS
say VBP VBP
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chances NNS NNS
that WDT IN
profits VBZ NNS
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their PRP$ PRP$
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performance NN NN
. . .
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The DT DT
industry NN NN
is VBZ VBZ
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seeing VBG VBG
a DT DT
softening NN NN
somewhat RB RB
in IN IN
volume NN NN
and CC CC
certainly RB RB
in IN IN
price NN NN
in IN IN
petrochemicals NNS NNS
, , ,
'' '' ''
Glenn NNP NNP
Cox NNP NNP
, , ,
president NN NN
of IN IN
Phillips NNP NNP
Petroleum NNP NNP
Co. NNP NNP
, , ,
said VBD VBD
in IN IN
an DT DT
interview NN NN
. . .
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`` `` ``
That DT DT
change NN NN
will MD MD
obviously RB RB
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third JJ JJ
and CC CC
fourth JJ JJ
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earnings NNS NNS
'' '' ''
for IN IN
the DT DT
industry NN NN
in IN IN
general JJ JJ
, , ,
he PRP PRP
added VBD VBD
. . .
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He PRP PRP
did VBD VBD
n't RB RB
forecast VB VBN
Phillips NNP NNP
's POS POS
results NNS NNS
. . .
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But CC CC
securities NNS NNS
analysts NNS NNS
say VBP VBP
Phillips NNP NNS
will MD MD
be VB VB
among IN IN
the DT DT
companies NNS NNS
hard-hit JJ JJ
by IN IN
weak JJ JJ
chemical NN NN
prices NNS NNS
and CC CC
will MD MD
probably RB RB
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a DT DT
drop NN NN
in IN IN
third-quarter JJ JJ
earnings NNS NNS
. . .
<s>
So RB RB
, , ,
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, , ,
many JJ JJ
analysts NNS NNS
predict VBP VBP
, , ,
will MD MD
Exxon NNP NNP
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, , ,
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and CC CC
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Corp NNP NNP
. . .
<s>
Typical JJ JJ
is VBZ VBZ
what WP WP
happened VBD VBD
to TO TO
the DT DT
price NN NN
of IN IN
ethylene NN NN
, , ,
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major JJ JJ
commodity NN NN
chemical NN NN
produced VBN VBN
in IN IN
vast JJ JJ
amounts NNS NNS
by IN IN
many JJ JJ
oil NN NN
companies NNS NNS
. . .
<s>
It PRP PRP
has VBZ VBZ
plunged VBN VBN
13 CD CD
% NN NN
since IN IN
July NNP NNP
to TO TO
around IN IN
26 CD CD
cents NNS NNS
a DT DT
pound NN NN
. . .
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A DT DT
year NN NN
ago RB RB
ethylene NN NN
sold VBD VBD
for IN IN
33 CD CD
cents NNS NNS
, , ,
peaking VBG VBG
at IN IN
about IN RB
34 CD CD
cents NNS NNS
last JJ JJ
December NNP NNP
. . .
<s>
A DT DT
big JJ JJ
reason NN NN
for IN IN
the DT DT
chemical NN NN
price NN NN
retreat NN NN
is VBZ VBZ
overexpansion : NN
. . .
<s>
Beginning NN VBG
in IN IN
mid-1987 : NN
, , ,
prices NNS NNS
began VBD VBD
accelerating VBG VBG
as IN IN
a DT DT
growing VBG VBG
U.S. NNP NNP
economy NN NN
and CC CC
the DT DT
weak JJ JJ
dollar NN NN
spurred VBD VBD
demand NN NN
. . .
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Companies NNS NNS
added VBD VBD
capacity NN NN
furiously RB RB
. . .
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Now RB RB
, , ,
greatly RB RB
increased VBN VBN
supplies NNS NNS
are VBP VBP
on IN IN
the DT DT
market NN NN
, , ,
while IN IN
the DT DT
dollar NN NN
is VBZ VBZ
stronger JJR JJR
, , ,
and CC CC
domestic JJ JJ
economic JJ JJ
growth NN NN
is VBZ VBZ
slower JJR JJR
. . .
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Third-quarter JJ JJ
profits NNS NNS
from IN IN
gasoline NN NN
were VBD VBD
weaker JJR JJR
. . .
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`` `` ``
Refining NN NN
margins NNS NNS
were VBD VBD
so RB RB
good JJ JJ
in IN IN
the DT DT
third JJ JJ
quarter NN NN
of IN IN
last JJ JJ
year NN NN
and CC CC
generally RB RB
not RB RB
very RB RB
good JJ JJ
this DT DT
year NN NN
, , ,
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said VBD VBD
William NNP NNP
Randol NNP NNP
, , ,
a DT DT
securities NNS NNS
analyst NN NN
at IN IN
First NNP NNP
Boston NNP NNP
Corp NNP NNP
. . .
<s>
Oil NN NN
company NN NN
refineries NNS NNS
ran VBD VBD
flat JJ RB
out RP RB
to TO TO
prepare VB VB
for IN IN
a DT DT
robust JJ JJ
holiday NN NN
driving VBG NN
season NN NN
in IN IN
July NNP NNP
and CC CC
August NNP NNP
that WDT WDT
did VBD VBD
n't RB RB
materialize VB VB
. . .
<s>
The DT DT
excess JJ JJ
supply NN NN
pushed VBD VBD
gasoline NN NN
prices NNS NNS
down RP RP
in IN IN
that DT DT
period NN NN
. . .
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In IN IN
addition NN NN
, , ,
crude JJ JJ
oil NN NN
prices NNS NNS
were VBD VBD
up RB RB
some DT DT
from IN IN
a DT DT
year NN NN
earlier RBR RBR
, , ,
further JJ RB
pressuring VBG VBG
profitability NN NN
. . .
<s>
Refiners NNS NNS
say VBP VBP
margins NNS NNS
picked VBD VBD
up RP RP
in IN IN
September NNP NNP
, , ,
and CC CC
many JJ JJ
industry NN NN
officials NNS NNS
believe VBP VBP
gasoline NN NN
profits NNS NNS
will MD MD
rebound VB VB
this DT DT
quarter NN NN
, , ,
though IN IN
still RB RB
not RB RB
to TO TO
the DT DT
level NN NN
of IN IN
1988 CD CD
's POS POS
fourth JJ JJ
quarter NN NN
. . .
<s>
During IN IN
the DT DT
1988 CD CD
second JJ JJ
half NN NN
, , ,
many JJ JJ
companies NNS NNS
posted VBD VBD
record NN JJ
gasoline NN NN
and CC CC
chemical NN NN
profits NNS NNS
. . .
<s>
Crude JJ JJ
oil NN NN
production NN NN
may MD MD
turn VB VB
out RP RP
to TO TO
be VB VB
the DT DT
most RBS RBS
surprising JJ JJ
element NN NN
of IN IN
companies NNS NNS
' POS POS
earnings NNS NNS
this DT DT
year NN NN
. . .
<s>
Prices NNS NNS
-- : :
averaging VBG VBG
roughly RB RB
$ $ $
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a DT DT
barrel NN NN
higher RBR JJR
in IN IN
the DT DT
third JJ JJ
quarter NN NN
than IN IN
a DT DT
year NN NN
earlier RBR RBR
-- : :
have VBP VBP
stayed VBN VBN
well RB RB
above IN IN
most JJS JJS
companies NNS NNS
' POS POS
expectations NNS NNS
. . .
<s>
Demand NN NN
has VBZ VBZ
been VBN VBN
much RB RB
stronger JJR JJR
than IN IN
anticipated VBN VBN
, , ,
and CC CC
it PRP PRP
typically RB RB
accelerates VBZ VBZ
in IN IN
the DT DT
fourth JJ JJ
quarter NN NN
. . .
<s>
`` `` ``
We PRP PRP
could MD MD
see VB VB
higher JJR JJR
oil NN NN
prices NNS NNS
this DT DT
year NN NN
, , ,
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said VBD VBD
Bryan NNP NNP
Jacoboski NNP NNP
, , ,
an DT DT
analyst NN NN
at IN IN
PaineWebber NNP NNP
Inc NNP NNP
. . .
<s>
That DT DT
will MD MD
translate VB VB
into IN IN
sharply RB RB
higher JJR JJR
production NN NN
profits NNS NNS
, , ,
particularly RB RB
compared VBN VBN
with IN IN
last JJ JJ
year NN NN
when WRB WRB
oil NN NN
prices NNS NNS
steadily RB RB
fell VBD VBD
to TO TO
below IN IN
$ $ $
13 CD CD
a DT DT
barrel NN NN
in IN IN
the DT DT
fourth JJ JJ
quarter NN NN
. . .
<s>
While IN IN
oil NN NN
prices NNS NNS
have VBP VBP
been VBN VBN
better JJR JJR
than IN IN
expected VBN VBN
, , ,
natural JJ JJ
gas NN NN
prices NNS NNS
have VBP VBP
been VBN VBN
worse JJR JJR
. . .
<s>
In IN IN
the DT DT
third JJ JJ
quarter NN NN
, , ,
they PRP PRP
averaged VBD VBD
about IN RB
5 CD CD
% NN NN
less JJR JJR
than IN IN
they PRP PRP
were VBD VBD
in IN IN
1988 CD CD
. . .
<s>
The DT DT
main JJ JJ
reason NN NN
remains VBZ VBZ
weather NN NN
. . .
<s>
Last JJ JJ
summer NN NN
was VBD VBD
notable JJ JJ
for IN IN
a DT DT
heat NN NN
wave NN NN
and CC CC
drought NN NN
that WDT WDT
caused VBD VBD
utilities NNS NNS
to TO TO
burn VB VB
more JJR JJR
natural JJ JJ
gas NN NN
to TO TO
feed VB VB
increased VBN JJ
electrical JJ JJ
demand NN NN
from IN IN
air NN NN
conditioning NN NN
use NN NN
. . .
<s>
This DT DT
summer NN NN
, , ,
on IN IN
the DT DT
other JJ JJ
hand NN NN
, , ,
had VBD VBD
milder JJR JJR
weather NN NN
than IN IN
usual JJ JJ
. . .
<s>
`` `` ``
We PRP PRP
've VBP VBP
been VBN VBN
very RB RB
disappointed VBN JJ
in IN IN
the DT DT
performance NN NN
of IN IN
natural JJ JJ
gas NN NN
prices NNS NNS
, , ,
'' '' ''
said VBD VBD
Mr. NNP NNP
Cox NNP NNP
, , ,
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's POS POS
president NN NN
. . .
<s>
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The DT DT
lagging NN VBG
gas NN NN
price NN NN
is VBZ VBZ
not RB RB
going VBG VBG
to TO TO
assist VB VB
fourth JJ JJ
quarter NN NN
performance NN NN
as IN IN
many JJ JJ
had VBD VBD
expected VBN VBN
. . .
<s>
'' '' ''
Going VBG VBG
into IN IN
the DT DT
fourth JJ JJ
quarter NN NN
, , ,
natural JJ JJ
gas NN NN
prices NNS NNS
are VBP VBP
anywhere RB RB
from IN IN
8 CD CD
% NN NN
to TO TO
17 CD CD
% NN NN
lower JJR JJR
than IN IN
a DT DT
year NN NN
earlier RBR RBR
. . .
<s>
For IN IN
instance NN NN
, , ,
natural JJ JJ
gas NN NN
currently RB RB
produced VBN VBN
along IN IN
the DT DT
Gulf NNP NNP
Coast NNP NNP
is VBZ VBZ
selling VBG VBG
on IN IN
the DT DT
spot NN JJ
market NN NN
for IN IN
around IN IN
$ $ $
1.47 CD CD
a DT DT
thousand CD CD
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feet NNS NNS
, , ,
down RB RB
13 CD CD
% NN NN
from IN IN
$ $ $
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a DT DT
thousand CD CD
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feet NNS NNS
a DT DT
year NN NN
ago RB RB
. . .
<s>
The DT DT
Bush NNP NNP
administration NN NN
, , ,
trying VBG VBG
to TO TO
blunt VB JJ
growing VBG VBG
demands NNS NNS
from IN IN
Western NNP NNP
Europe NNP NNP
for IN IN
a DT DT
relaxation NN NN
of IN IN
controls NNS NNS
on IN IN
exports NNS NNS
to TO TO
the DT DT
Soviet JJ JJ
bloc NN NN
, , ,
is VBZ VBZ
questioning VBG VBG
whether IN IN
Italy NNP NNP
's POS POS
Ing NNP NNP
. . .
<s>
C. NNP NNP
Olivetti NNP NNP
& CC CC
Co. NNP NNP
supplied VBD VBD
militarily RB RB
valuable JJ JJ
technology NN NN
to TO TO
the DT DT
Soviets NNPS NNPS
. . .
<s>
Most JJS JJS
of IN IN
the DT DT
Western JJ JJ
European JJ NNP
members NNS NNS
of IN IN
Coordinating NNP NNP
Committee NNP NNP
on IN IN
Multilateral NNP NNP
Export NNP NNP
Controls NNP NNP
, , ,
the DT DT
unofficial JJ JJ
forum NN NN
through IN IN
which WDT WDT
the DT DT
U.S. NNP NNP
and CC CC
its PRP$ PRP$
allies NNS NNS
align : VBP
their PRP$ PRP$
export-control JJ JJ
policies NNS NNS
, , ,
are VBP VBP
expected VBN VBN
to TO TO
argue VB VB
for IN IN
more JJR RBR
liberal JJ JJ
export NN NN
rules NNS NNS
at IN IN
a DT DT
meeting NN NN
to TO TO
be VB VB
held VBN VBN
in IN IN
Paris NNP NNP
Oct. NNP NNP
25 CD CD
and CC CC
26 CD CD
. . .
<s>
They PRP PRP
plan VBP VBP
to TO TO
press VB VB
specifically RB RB
for IN IN
a DT DT
relaxation NN NN
of IN IN
rules NNS NNS
governing VBG VBG
exports NNS NNS
of IN IN
machine NN NN
tools NNS NNS
, , ,
computers NNS NNS
and CC CC
other JJ JJ
high-technology NN NN
products NNS NNS
. . .
<s>
But CC CC
the DT DT
Bush NNP NNP
administration NN NN
says VBZ VBZ
it PRP PRP
wants VBZ VBZ
to TO TO
see VB VB
evidence NN NN
that IN IN
all DT DT
Cocom NNP NNP
members NNS NNS
are VBP VBP
complying VBG VBG
fully RB RB
with IN IN
existing VBG JJ
export-control JJ JJ
procedures NNS NNS
before IN IN
it PRP PRP
will MD MD
support VB VB
further JJ JJ
liberalization NN NN
. . .
<s>
To TO TO
make VB VB
its PRP$ PRP$
point NN NN
, , ,
it PRP PRP
is VBZ VBZ
challenging VBG VBG
the DT DT
Italian JJ JJ
government NN NN
to TO TO
explain VB VB
reports NNS NNS
that IN IN
Olivetti NNP NNP
may MD MD
have VB VB
supplied VBN VBN
the DT DT
Soviet NNP NNP
Union NNP NNP
with IN IN
sophisticated JJ JJ
computer-driven JJ JJ
devices NNS NNS
that WDT WDT
could MD MD
be VB VB
used VBN VBN
to TO TO
build VB VB
parts NNS NNS
for IN IN
combat NN NN
aircraft NN NN
. . .
<s>
The DT DT
London NNP NNP
Sunday NNP NNP
Times NNP NNP
, , ,
which WDT WDT
first RB RB
reported VBD VBD
the DT DT
U.S. NNP NNP
concerns NNS NNS
, , ,
cited VBD VBD
a DT DT
U.S. NNP NNP
intelligence NN NN
report NN NN
as IN IN
the DT DT
source NN NN
of IN IN
the DT DT
allegations NNS NNS
that IN IN
Olivetti NNP NNP
exported VBD VBD
$ $ $
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million CD CD
in IN IN
`` `` ``
embargoed JJ JJ
, , ,
state-of-the-art JJ JJ
, , ,
flexible JJ JJ
manufacturing NN NN
systems NNS NNS
to TO TO
the DT DT
Soviet JJ JJ
aviation NN NN
industry NN NN
. . .
<s>
'' '' ''
Olivetti NNP NNP
reportedly RB RB
began VBD VBD
shipping VBG VBG
these DT DT
tools NNS NNS
in IN IN
1984 CD CD
. . .
<s>
A DT DT
State NNP NNP
Department NNP NNP
spokesman NN NN
acknowledged VBD VBD
that IN IN
the DT DT
U.S. NNP NNP
is VBZ VBZ
discussing VBG VBG
the DT DT
allegations NNS NNS
with IN IN
the DT DT
Italian JJ JJ
government NN NN
and CC CC
Cocom NNP NNP
, , ,
but CC CC
declined VBD VBD
to TO TO
confirm VB VB
any DT DT
details NNS NNS
. . .
<s>
Italian NNP JJ
President NNP NNP
Francesco NNP NNP
Cossiga NNP NNP
promised VBD VBD
a DT DT
quick JJ JJ
investigation NN NN
into IN IN
whether IN IN
Olivetti NNP NNP
broke VBD VBD
Cocom NNP NNP
rules NNS NNS
. . .
<s>
President NNP NNP
Bush NNP NNP
called VBD VBD
his PRP$ PRP$
attention NN NN
to TO TO
the DT DT
matter NN NN
during IN IN
the DT DT
Italian JJ JJ
leader NN NN
's POS POS
visit NN NN
here RB RB
last JJ JJ
week NN NN
. . .
<s>
Olivetti NNP NNP
has VBZ VBZ
denied VBN VBN
that IN IN
it PRP PRP
violated VBD VBD
Cocom NNP NNP
rules NNS NNS
, , ,
asserting VBG VBG
that IN IN
the DT DT
reported VBN JJ
shipments NNS NNS
were VBD VBD
properly RB RB
licensed VBN VBN
by IN IN
the DT DT
Italian JJ JJ
authorities NNS NNS
. . .
<s>
Although IN IN
the DT DT
legality NN NN
of IN IN
these DT DT
sales NNS NNS
is VBZ VBZ
still RB RB
an DT DT
open JJ JJ
question NN NN
, , ,
the DT DT
disclosure NN NN
could MD MD
n't RB RB
be VB VB
better JJR RBR
timed VBN VBN
to TO TO
support VB VB
the DT DT
position NN NN
of IN IN
export-control JJ JJ
hawks NNS NNS
in IN IN
the DT DT
Pentagon NNP NNP
and CC CC
the DT DT
intelligence NN NN
community NN NN
. . .
<s>
`` `` ``
It PRP PRP
seems VBZ VBZ
to TO TO
me PRP PRP
that IN IN
a DT DT
story NN NN
like IN IN
this DT DT
breaks NNS VBZ
just RB RB
before IN IN
every DT DT
important JJ JJ
Cocom NNP NNP
meeting NN NN
, , ,
'' '' ''
said VBD VBD
a DT DT
Washington NNP NNP
lobbyist NN NN
for IN IN
a DT DT
number NN NN
of IN IN
U.S. NNP NNP
computer NN NN
companies NNS NNS
. . .
<s>
The DT DT
Bush NNP NNP
administration NN NN
has VBZ VBZ
sent VBN VBN
conflicting VBG JJ
signals NNS NNS
about IN IN
its PRP$ PRP$
export-control JJ JJ
policies NNS NNS
, , ,
reflecting VBG VBG
unhealed JJ JJ
divisions NNS NNS
among IN IN
several JJ JJ
competing VBG VBG
agencies NNS NNS
. . .
<s>
Last JJ JJ
summer NN NN
, , ,
Mr. NNP NNP
Bush NNP NNP
moved VBD VBD
the DT DT
administration NN NN
in IN IN
the DT DT
direction NN NN
of IN IN
gradual JJ JJ
liberalization NN NN
when WRB WRB
he PRP PRP
told VBD VBD
a DT DT
North NNP NNP
Atlantic NNP NNP
Treaty NNP NNP
Organization NNP NNP
meeting NN NN
that IN IN
he PRP PRP
would MD MD
allow VB VB
some DT DT
exceptions NNS NNS
to TO TO
the DT DT
Cocom NNP NNP
embargo NN NN
of IN IN
strategic JJ JJ
goods NNS NNS
. . .
<s>
But CC CC
more RBR RBR
recently RB RB
, , ,
the DT DT
Pentagon NNP NNP
and CC CC
the DT DT
Commerce NNP NNP
Department NNP NNP
openly RB RB
feuded VBD VBD
over IN IN
the DT DT
extent NN NN
to TO TO
which WDT WDT
Cocom NNP NNP
should MD MD
liberalize VB VB
exports NNS NNS
of IN IN
personal JJ JJ
computers NNS NNS
to TO TO
the DT DT
bloc NN NN
. . .
<s>
However RB RB
, , ,
these DT DT
agencies NNS NNS
generally RB RB
agree VBP VBP
that IN IN
the DT DT
West NNP NNP
should MD MD
be VB VB
cautious JJ JJ
about IN IN
any DT DT
further JJ JJ
liberalization NN NN
. . .
<s>
`` `` ``
There EX EX
's VBZ VBZ
no DT DT
evidence NN NN
that IN IN
the DT DT
Soviet JJ JJ
program NN NN
to TO TO
( ( (
illegally RB RB
) ) )
acquire NN VB
Western JJ JJ
technology NN NN
has VBZ VBZ
diminished VBN VBN
, , ,
'' '' ''
said VBD VBD
a DT DT
State NNP NNP
Department NNP NNP
spokesman NN NN
. . .
<s>
Salomon NNP NNP
Brothers NNP NNP
International NNP NNP
Ltd. NNP NNP
, , ,
a DT DT
British JJ JJ
subsidiary NN NN
of IN IN
Salomon NNP NNP
Inc. NNP NNP
, , ,
announced VBD VBD
it PRP PRP
will MD MD
issue VB VB
warrants NNS NNS
on IN IN
shares NNS NNS
of IN IN
Hong NNP NNP
Kong NNP NNP
Telecommunications NNPS NNP
Ltd NNP NNP
. . .
<s>
The DT DT
move NN NN
closely RB RB
follows VBZ VBZ
a DT DT
similar JJ JJ
offer NN NN
by IN IN
Salomon NNP NNP
of IN IN
warrants NNS NNS
for IN IN
shares NNS NNS
of IN IN
Hongkong NNP NNP
& CC CC
Shanghai NNP NNP
Banking NNP NNP
Corp NNP NNP
. . .
<s>
Under IN IN
the DT DT
latest JJS JJS
offer NN NN
, , ,
HK$ $ $
62.5 CD CD
million CD CD
( ( (
US$ $ $
8 CD CD
million CD CD
) ) )
of IN IN
three-year JJ JJ
warrants NNS NNS
will MD MD
be VB VB
issued VBN VBN
in IN IN
London NNP NNP
, , ,
each DT DT
giving VBG VBG
buyers NNS NNS
the DT DT
right NN NN
to TO TO
buy VB VB
one CD CD
Hong NNP NNP
Kong NNP NNP
Telecommunications NNPS NNP
share NN NN
at IN IN
a DT DT
price NN NN
to TO TO
be VB VB
determined VBN VBN
Friday NNP NNP
. . .
<s>
The DT DT
50 CD CD
million CD CD
warrants NNS NNS
will MD MD
be VB VB
priced VBN VBN
at IN IN
HK$ $ $
1.25 CD CD
each DT DT
and CC CC
are VBP VBP
expected VBN VBN
to TO TO
carry VB VB
a DT DT
premium NN NN
to TO TO
the DT DT
share NN NN
price NN NN
of IN IN
about IN RB
26 CD CD
% NN NN
. . .
<s>
In IN IN
trading NN VBG
on IN IN
the DT DT
Stock NNP NNP
Exchange NNP NNP
of IN IN
Hong NNP NNP
Kong NNP NNP
, , ,
the DT DT
shares NNS NNS
closed VBD VBD
Wednesday NNP NNP
at IN IN
HK$ $ $
4.80 CD CD
each DT DT
. . .
<s>
At IN IN
this DT DT
price NN NN
, , ,
the DT DT
shares NNS NNS
would MD MD
have VB VB
to TO TO
rise VB VB
above IN IN
HK$ $ $
6.05 CD CD
for IN IN
subscribers NNS NNS
to TO TO
Salomon NNP NNP
's POS POS
issue NN NN
to TO TO
profitably RB RB
convert VB VB
their PRP$ PRP$
warrants NNS NNS
. . .
<s>
While IN IN
Hong NNP NNP
Kong NNP NNP
companies NNS NNS
have VBP VBP
in IN IN
the DT DT
past NN NN
issued VBD VBD
warrants NNS NNS
on IN IN
their PRP$ PRP$
own JJ JJ
shares NNS NNS
, , ,
Salomon NNP NNP
's POS POS
warrants NNS NNS
are VBP VBP
the DT DT
first JJ JJ
here RB RB
to TO TO
be VB VB
issued VBN VBN
by IN IN
a DT DT
third JJ JJ
party NN NN
. . .
<s>
Salomon NNP NNP
will MD MD
`` `` ``
cover VB VB
'' '' ''
the DT DT
warrants NNS NNS
by IN IN
buying VBG VBG
sufficient JJ JJ
shares NNS NNS
, , ,
or CC CC
options NNS NNS
to TO TO
purchase VB NN
shares NNS NNS
, , ,
to TO TO
cover VB VB
its PRP$ PRP$
entire JJ JJ
position NN NN
. . .
<s>
Bankers NNS NNS
said VBD VBD
warrants NNS NNS
for IN IN
Hong NNP NNP
Kong NNP NNP
stocks NNS NNS
are VBP VBP
attractive JJ JJ
because IN IN
they PRP PRP
give VBP VBP
foreign JJ JJ
investors NNS NNS
, , ,
wary JJ JJ
of IN IN
volatility NN NN
in IN IN
the DT DT
colony NN NN
's POS POS
stock NN NN
market NN NN
, , ,
an DT DT
opportunity NN NN
to TO TO
buy VB VB
shares NNS NNS
without IN IN
taking VBG VBG
too RB RB
great JJ JJ
a DT DT
risk NN NN
. . .
<s>
The DT DT
Hong NNP NNP
Kong NNP NNP
Telecommunications NNPS NNP
warrants NNS NNS
should MD MD
be VB VB
attractive JJ JJ
to TO TO
buyers NNS NNS
in IN IN
Europe NNP NNP
, , ,
the DT DT
bankers NNS NNS
added VBD VBD
, , ,
because IN IN
the DT DT
group NN NN
is VBZ VBZ
one CD CD
of IN IN
a DT DT
handful NN NN
of IN IN
blue-chip JJ JJ
stocks NNS NNS
on IN IN
the DT DT
Hong NNP NNP
Kong NNP NNP
market NN NN
that WDT WDT
has VBZ VBZ
international JJ JJ
appeal NN NN
. . .
<s>
Financial NNP NNP
Corp. NNP NNP
of IN IN
Santa NNP NNP
Barbara NNP NNP
filed VBD VBD
suit NN NN
against IN IN
former JJ JJ
stock NN NN
speculator NN NN
Ivan NNP NNP
F. NNP NNP
Boesky NNP NNP
and CC CC
Drexel NNP NNP
Burnham NNP NNP
Lambert NNP NNP
Inc. NNP NNP
, , ,
charging VBG VBG
they PRP PRP
defrauded VBD VBD
the DT DT
thrift NN NN
by IN IN
concealing VBG VBG
their PRP$ PRP$
relationship NN NN
when WRB WRB
persuading VBG VBG
it PRP PRP
to TO TO
buy VB VB
$ $ $
284 CD CD
million CD CD
in IN IN
high-yield JJ JJ
, , ,
high-risk JJ JJ
junk NN NN
bonds NNS NNS
. . .
<s>
In IN IN
a DT DT
suit NN NN
filed VBN VBN
in IN IN
federal JJ JJ
court NN NN
Thursday NNP NNP
, , ,
the DT DT
S&L NN NNP
alleged VBD VBD
that IN IN
a DT DT
`` `` ``
disproportionate JJ JJ
number NN NN
'' '' ''
of IN IN
the DT DT
bonds NNS NNS
it PRP PRP
purchased VBD VBD
in IN IN
1984 CD CD
declined VBD VBD
in IN IN
value NN NN
. . .
<s>
Financial NNP NNP
Corp. NNP NNP
purchased VBD VBD
the DT DT
bonds NNS NNS
, , ,
the DT DT
suit NN NN
alleged VBD VBD
, , ,
after IN IN
Mr. NNP NNP
Boesky NNP NNP
and CC CC
Drexel NNP NNP
negotiated VBD VBD
an DT DT
agreement NN NN
for IN IN
Vagabond NNP NNP
Hotels NNPS NNP
to TO TO
purchase VB VB
a DT DT
51 CD CD
% NN NN
stake NN NN
in IN IN
the DT DT
thrift NN NN
for IN IN
about RB RB
$ $ $
34 CD CD
million CD CD
. . .
<s>
Vagabond NNP NNP
Hotels NNPS NNP
was VBD VBD
controlled VBN VBN
by IN IN
Mr. NNP NNP
Boesky NNP NNP
, , ,
who WP WP
currently RB RB
is VBZ VBZ
serving VBG VBG
a DT DT
prison NN NN
term NN NN
for IN IN
securities NNS NNS
violations NNS NNS
. . .
<s>
Officials NNS NNS
at IN IN
Drexel NNP NNP
said VBD VBD
they PRP PRP
had VBD VBD
n't RB RB
seen VBN VBN
the DT DT
suit NN NN
and CC CC
thus RB RB
could MD MD
n't RB RB
comment VB VB
. . .
<s>
In IN IN
addition NN NN
to TO TO
$ $ $
33 CD CD
million CD CD
compensatory JJ JJ
damages NNS NNS
, , ,
the DT DT
suit NN NN
seeks VBZ VBZ
$ $ $
100 CD CD
million CD CD
in IN IN
punitive JJ JJ
damages NNS NNS
. . .
<s>
Also RB RB
named VBN VBN
in IN IN
the DT DT
suit NN NN
is VBZ VBZ
Ivan NNP NNP
F. NNP NNP
Boesky NNP NNP
Corp. NNP NNP
and CC CC
Northview NNP NNP
Corp. NNP NNP
, , ,
the DT DT
successor NN NN
company NN NN
to TO TO
Vagabonds NNP NNP
Hotels NNPS NNP
. . .
<s>
Northview : NNP
officials NNS NNS
could MD MD
n't RB RB
be VB VB
located VBN VBN
. . .
<s>
Financial NNP NNP
Corp. NNP NNP
said VBD VBD
it PRP PRP
agreed VBD VBD
to TO TO
buy VB VB
the DT DT
bonds NNS NNS
after IN IN
a DT DT
representative NN NN
of IN IN
Ivan NNP NNP
F. NNP NNP
Boesky NNP NNP
Corp. NNP NNP
visited VBD VBD
it PRP PRP
in IN IN
November NNP NNP
1983 CD CD
and CC CC
said VBD VBD
Financial NNP NNP
Corp. NNP NNP
could MD MD
improve VB VB
its PRP$ PRP$
financial JJ JJ
condition NN NN
by IN IN
purchasing VBG VBG
the DT DT
bonds NNS NNS
. . .
<s>
Shortly RB RB
before IN IN
the DT DT
visit NN NN
, , ,
Mr. NNP NNP
Boesky NNP NNP
and CC CC
Drexel NNP NNP
representives NNS NNS
had VBD VBD
met VBN VBN
with IN IN
Financial NNP NNP
Corp. NNP NNP
officials NNS NNS
and CC CC
had VBD VBD
signed VBN VBN
a DT DT
letter NN NN
of IN IN
intent NN NN
to TO TO
acquire VB VB
the DT DT
51 CD CD
% NN NN
stake NN NN
in IN IN
the DT DT
company NN NN
. . .
<s>
However RB RB
, , ,
the DT DT
agreement NN NN
was VBD VBD
canceled VBN VBN
in IN IN
June NNP NNP
1984 CD CD
. . .
<s>
Financial NNP NNP
Corp. NNP NNP
purchased VBD VBD
the DT DT
bonds NNS NNS
in IN IN
at IN IN
least JJS JJS
70 CD CD
different JJ JJ
transactions NNS NNS
in IN IN
1984 CD CD
and CC CC
since IN IN
then RB RB
has VBZ VBZ
realized VBN VBN
$ $ $
11 CD CD
million CD CD
in IN IN
losses NNS NNS
on IN IN
them PRP PRP
, , ,
the DT DT
company NN NN
said VBD VBD
. . .
<s>
Ideal NNP NNP
Basic NNP NNP
Industries NNPS NNP
Inc. NNP NNP
said VBD VBD
its PRP$ PRP$
directors NNS NNS
reached VBD VBD
an DT DT
agreement NN NN
in IN IN
principle NN NN
calling VBG VBG
for IN IN
HOFI NNP NNP
North NNP NNP
America NNP NNP
Inc. NNP NNP
to TO TO
combine VB VB
its PRP$ PRP$
North JJ JJ
American JJ JJ
cement NN NN
holdings NNS NNS
with IN IN
Ideal NNP NNP
in IN IN
a DT DT
transaction NN NN
that WDT WDT
will MD MD
leave VB VB
Ideal NNP NNP
's POS POS
minority NN NN
shareholders NNS NNS
with IN IN
12.8 CD CD
% NN NN
of IN IN
the DT DT
combined VBN JJ
company NN NN
. . .
<s>
HOFI NNP NNP
, , ,
the DT DT
North JJ JJ
American JJ JJ
holding VBG NN
company NN NN
of IN IN
Swiss JJ JJ
concern NN NN
Holderbank NNP NNP
Financiere NNP NNP
Glaris NNP NNP
Ltd. NNP NNP
, , ,
previously RB RB
proposed VBN VBD
combining VBG VBG
its PRP$ PRP$
100 CD CD
% NN NN
stake NN NN
in IN IN
St. NNP NNP
Lawrence NNP NNP
Cement NNP NNP
Inc. NNP NNP
and CC CC
its PRP$ PRP$
60 CD CD
% NN NN
stake NN NN
in IN IN
Dundee NNP NNP
Cement NNP NNP
Co. NNP NNP
with IN IN
its PRP$ PRP$
67 CD CD
% NN NN
stake NN NN
in IN IN
Ideal NNP NN
. . .
<s>
But CC CC
HOFI NNP NNP
's POS POS
first JJ JJ
offer NN NN
would MD MD
have VB VB
given VBN VBN
Ideal NNP NNP
's POS POS
other JJ JJ
shareholders NNS NNS
about IN RB
10 CD CD
% NN NN
of IN IN
the DT DT
combined VBN JJ
company NN NN
. . .
<s>
Ideal NNP NNP
's POS POS
directors NNS NNS
rejected VBD VBD
that DT DT
offer NN NN
, , ,
although IN IN
they PRP PRP
said VBD VBD
they PRP PRP
endorsed VBD VBD
the DT DT
merger NN NN
proposal NN NN
. . .
<s>
Under IN IN
the DT DT
agreement NN NN
, , ,
HOFI NNP NNP
will MD MD
own VB VB
87.2 CD CD
% NN NN
of IN IN
the DT DT
combined VBN JJ
company NN NN
. . .
<s>
Ideal NNP NNP
's POS POS
current JJ JJ
operations NNS NNS
will MD MD
represent VB VB
about RB RB
39.2 CD CD
% NN NN
of IN IN
the DT DT
combined VBN JJ
company NN NN
. . .
<s>
The DT DT
transaction NN NN
is VBZ VBZ
subject JJ JJ
to TO TO
a DT DT
definitive JJ JJ
agreement NN NN
and CC CC
approval NN NN
by IN IN
Ideal NNP NNP
shareholders NNS NNS
. . .
<s>
Ideal NNP NNP
said VBD VBD
it PRP PRP
expects VBZ VBZ
to TO TO
complete VB VB
the DT DT
transaction NN NN
early JJ RB
next JJ JJ
year NN NN
. . .
<s>
While IN IN
corn NN NN
and CC CC
soybean NN NN
prices NNS NNS
have VBP VBP
slumped VBN VBN
well RB RB
below IN IN
their PRP$ PRP$
drought-induced JJ JJ
peaks NNS NNS
of IN IN
1988 CD CD
, , ,
wheat NN NN
prices NNS NNS
remain VBP VBP
stubbornly RB RB
high JJ JJ
. . .
<s>
And CC CC
they PRP PRP
're VBP VBP
likely JJ JJ
to TO TO
stay VB VB
that DT DT
way NN NN
for IN IN
months NNS NNS
to TO TO
come VB VB
, , ,
analysts NNS NNS
say VBP VBP
. . .
<s>
For IN IN
one CD CD
thing NN NN
, , ,
even RB RB
with IN IN
many JJ JJ
farmers NNS NNS
planting VBG VBG
more JJR JJR
winter NN NN
wheat NN NN
this DT DT
year NN NN
than IN IN
last JJ JJ
, , ,
tight JJ JJ
wheat NN NN
supplies NNS NNS
are VBP VBP
likely JJ JJ
to TO TO
support VB VB
prices NNS NNS
well RB RB
into IN IN
1990 CD CD
, , ,
the DT DT
analysts NNS NNS
say VBP VBP
. . .
<s>
And CC CC
if IN IN
rain NN NN
does VBZ VBZ
n't RB RB
fall VB VB
soon RB RB
across IN IN
many JJ JJ
of IN IN
the DT DT
Great NNP NNP
Plains NNP NNP
' POS POS
wheat-growing JJ JJ
areas NNS NNS
, , ,
yields NNS NNS
in IN IN
the DT DT
crop NN NN
now RB RB
being VBG VBG
planted VBN VBN
could MD MD
be VB VB
reduced VBN VBN
, , ,
further JJ RB
squeezing VBG VBG
supplies NNS NNS
. . .
<s>
Also RB RB
supporting VBG VBG
prices NNS NNS
are VBP VBP
expectations NNS NNS
that IN IN
the DT DT
Soviet NNP NNP
Union NNP NNP
will MD MD
place VB VB
substantial JJ JJ
buying NN NN
orders NNS NNS
over IN IN
the DT DT
next JJ JJ
few JJ JJ
months NNS NNS
. . .
<s>
By IN IN
next JJ JJ
May NNP NNP
31 CD CD
, , ,
stocks NNS NNS
of IN IN
U.S. NNP NNP
wheat NN NN
to TO TO
be VB VB
carried VBN VBN
over IN RP
into IN IN
the DT DT
next JJ JJ
season NN NN
-- : :
before IN IN
the DT DT
winter NN NN
wheat NN NN
now RB RB
being VBG VBG
planted VBN VBN
is VBZ VBZ
harvested VBN VBN
-- : :
are VBP VBP
projected VBN VBN
to TO TO
drop VB VB
to TO TO
443 CD CD
million CD CD
bushels NNS NNS
. . .
<s>
That DT DT
would MD MD
be VB VB
the DT DT
lowest JJS JJS
level NN NN
since IN IN
the DT DT
early JJ JJ
1970s CD NNS
. . .
<s>
Stocks NNS NNS
were VBD VBD
698 CD CD
million CD CD
bushels NNS NNS
on IN IN
May NNP NNP
31 CD CD
of IN IN
this DT DT
year NN NN
. . .
<s>
In IN IN
response NN NN
to TO TO
dwindling VBG VBG
domestic JJ JJ
supplies NNS NNS
, , ,
Agriculture NNP NNP
Secretary NNP NNP
Clayton NNP NNP
Yeutter NNP NNP
last JJ JJ
month NN NN
said VBD VBD
the DT DT
U.S. NNP NNP
government NN NN
would MD MD
slightly RB RB
increase VB VB
the DT DT
number NN NN
of IN IN
acres NNS NNS
farmers NNS NNS
can MD MD
plant VB VB
in IN IN
wheat NN NN
for IN IN
next JJ JJ
year NN NN
and CC CC
still RB RB
qualify VB VB
for IN IN
federal JJ JJ
support NN NN
payments NNS NNS
. . .
<s>
The DT DT
government NN NN
estimates VBZ VBZ
that IN IN
the DT DT
new JJ JJ
plan NN NN
will MD MD
boost VB VB
production NN NN
next JJ JJ
year NN NN
by IN IN
about RB RB
66 CD CD
million CD CD
bushels NNS NNS
. . .
<s>
It PRP PRP
now RB RB
estimates VBZ VBZ
production NN NN
for IN IN
next JJ JJ
year NN NN
at IN IN
just RB RB
under IN IN
2.6 CD CD
billion CD CD
bushels NNS NNS
, , ,
compared VBN VBN
with IN IN
this DT DT
year NN NN
's POS VBZ
estimated VBN JJ
2.04 CD CD
billion CD CD
and CC CC
a DT DT
drought-stunted JJ JJ
1.81 CD CD
billion CD CD
in IN IN
1988 CD CD
. . .
<s>
But CC CC
the DT DT
full JJ JJ
effect NN NN
on IN IN
prices NNS NNS
of IN IN
the DT DT
winter NN NN
wheat NN NN
now RB RB
being VBG VBG
planted VBN VBN
wo MD MD
n't RB RB
be VB VB
felt VBN VBN
until IN IN
the DT DT
second JJ JJ
half NN NN
of IN IN
next JJ JJ
year NN NN
. . .
<s>
Until IN IN
then RB RB
, , ,
limited JJ JJ
stocks NNS NNS
are VBP VBP
likely JJ JJ
to TO TO
keep VB VB
prices NNS NNS
near IN IN
the DT DT
$ $ $
4-a-bushel JJ JJ
level NN NN
, , ,
analysts NNS NNS
say VBP VBP
. . .
<s>
On IN IN
the DT DT
Chicago NNP NNP
Board NNP NNP
of IN IN
Trade NNP NNP
Friday NNP NNP
, , ,
wheat NN NN
for IN IN
December NNP NNP
delivery NN NN
settled VBD VBD
at IN IN
$ $ $
4.0675 CD CD
a DT DT
bushel NN NN
, , ,
unchanged JJ JJ
. . .
<s>
In IN IN
theory NN NN
at IN IN
least JJS JJS
, , ,
tight JJ JJ
supplies NNS NNS
next JJ JJ
spring NN NN
could MD MD
leave VB VB
the DT DT
wheat NN NN
futures NNS NNS
market NN NN
susceptible JJ JJ
to TO TO
a DT DT
supply-demand JJ JJ
squeeze NN NN
, , ,
said VBD VBD
Daniel NNP NNP
Basse NNP NNP
, , ,
a DT DT
futures NNS NNS
analyst NN NN
with IN IN
AgResource NNP NNP
Co. NNP NNP
in IN IN
Chicago NNP NNP
. . .
<s>
Such JJ PDT
a DT DT
situation NN NN
can MD MD
wreak VB VB
havoc NN NN
, , ,
as IN IN
was VBD VBD
shown VBN VBN
by IN IN
the DT DT
emergency NN NN
that WDT WDT
developed VBD VBD
in IN IN
soybean NN NN
futures NNS NNS
trading NN NN
this DT DT
summer NN NN
on IN IN
the DT DT
Chicago NNP NNP
Board NNP NNP
of IN IN
Trade NNP NNP
. . .
<s>
In IN IN
July NNP NNP
, , ,
the DT DT
CBOT NNP NNP
ordered VBD VBD
Ferruzzi NNP NNP
Finanziaria NNP NNP
S.p NNP NNP
. . .
<s>
A. NN NNP
to TO TO
liquidate VB VB
futures NNS NNS
positions NNS NNS
equal JJ JJ
to TO TO
about IN RB
23 CD CD
million CD CD
bushels NNS NNS
of IN IN
soybeans NNS NNS
. . .
<s>
The DT DT
exchange NN NN
said VBD VBD
it PRP PRP
feared VBD VBD
that IN IN
some DT DT
members NNS NNS
would MD MD
n't RB RB
be VB VB
able JJ JJ
to TO TO
find VB VB
enough JJ JJ
soybeans NNS NNS
to TO TO
deliver VB VB
and CC CC
would MD MD
have VB VB
to TO TO
default VB VB
on IN IN
their PRP$ PRP$
contractual JJ JJ
obligation NN NN
to TO TO
the DT DT
Italian JJ JJ
conglomerate NN NN
, , ,
which WDT WDT
had VBD VBD
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its PRP$ PRP$
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has VBZ VBZ
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portions NNS NNS
of IN IN
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in IN IN
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areas NNS NNS
in IN IN
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from IN IN
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futures NNS NNS
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of IN IN
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in IN IN
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Union NNP NNP
has VBZ VBZ
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of IN IN
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of IN IN
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as RB RB
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for IN IN
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at IN IN
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of IN IN
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in IN IN
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from IN IN
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in IN IN
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and CC CC
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of IN IN
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for IN IN
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in IN IN
the DT DT
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of IN IN
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in IN IN
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for IN IN
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futures NNS NNS
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of IN IN
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the DT DT
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for IN IN
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at IN IN
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to TO TO
75 CD CD
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at IN IN
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. . .
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for IN IN
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in IN IN
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of IN IN
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as RB RB
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rumors NNS NNS
of IN IN
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of IN IN
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and CC CC
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also RB RB
are VBP VBP
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the DT DT
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with IN IN
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it PRP PRP
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of IN IN
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of IN IN
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as IN IN
those DT DT
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in IN IN
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. . .
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Saatchi NNP NNP
& CC CC
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said VBD VBD
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for IN IN
any DT DT
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may MD MD
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in IN IN
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of IN IN
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's POS POS
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in IN IN
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by IN IN
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Charles NNP NNP
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he PRP PRP
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& CC CC
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that IN IN
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otherwise RB RB
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agencies NNS NNS
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of IN IN
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with IN IN
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turn VB VB
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the DT DT
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them PRP PRP
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us PRP PRP
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Miller NNP NNP
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are VBP VBP
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agencies NNS NNS
because IN IN
of IN IN
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in IN IN
London NNP NNP
. . .
<s>
'' '' ''
Executives NNS NNS
at IN IN
Backer NNP NNP
Spielvogel NNP NNP
client NN NN
Avis NNP NNP
Inc. NNP NNP
, , ,
as RB RB
well RB RB
as IN IN
at IN IN
Saatchi NNP NNS
client NN NN
Philips NNP NNP
Lighting NNP NNP
Co. NNP NNP
, , ,
also RB RB
said VBD VBD
they PRP PRP
saw VBD VBD
no DT DT
effect NN NN
. . .
<s>
Executives NNS NNS
at IN IN
Prudential-Bache NNP NNP
Securities NNPS NNP
Inc. NNP NNP
, , ,
a DT DT
Backer NNP NNP
Spielvogel NNP NNP
client NN NN
that WDT WDT
is VBZ VBZ
reviewing VBG VBG
its PRP$ PRP$
account NN NN
, , ,
declined VBD VBD
comment NN NN
. . .
<s>
Mr. NNP NNP
Spielvogel NNP NNP
had VBD VBD
said VBN VBD
that IN IN
Prudential-Bache NNP NNP
was VBD VBD
prepared VBN VBN
to TO TO
finance VB VB
either CC CC
a DT DT
management NN NN
buy-out NN NN
and CC CC
restructuring NN NN
, , ,
or CC CC
a DT DT
buy-out NN NN
of IN IN
Backer NNP NNP
Spielvogel NNP NNP
alone RB RB
, , ,
led VBN VBN
by IN IN
him PRP PRP
. . .
<s>
Ad NN NN
Notes NNS NNS
... : :
. . .
<s>
NEW JJ JJ
ACCOUNT NN NN
: : :
California NNP NNP
's POS POS
Glendale NNP NNP
Federal NNP NNP
Bank NNP NNP
awarded VBD VBD
its PRP$ PRP$
$ $ $
12 CD CD
million CD CD
to TO TO
$ $ $
15 CD CD
million CD CD
account NN NN
to TO TO
the DT DT
Los NNP NNP
Angeles NNP NNP
office NN NN
of IN IN
Omnicom NNP NNP
Group NNP NNP
's POS POS
BBDO NNP NNP
agency NN NN
. . .
<s>
The DT DT
account NN NN
was VBD VBD
previously RB RB
handled VBN VBN
by IN IN
Davis NNP NNP
, , ,
Ball NNP NNP
& CC CC
Colombatto NNP NNP
Advertising NNP NNP
Inc. NNP NNP
, , ,
a DT DT
Los NNP NNP
Angeles NNP NNP
agency NN NN
. . .
<s>
ACCOUNT NNP NNP
REVIEW NNP NNP
: : :
Royal NNP NNP
Crown NNP NNP
Cola NNP NNP
Co. NNP NNP
has VBZ VBZ
ended VBN VBN
its PRP$ PRP$
relationship NN NN
with IN IN
the DT DT
Boston NNP NNP
office NN NN
of IN IN
Hill NNP NNP
, , ,
Holliday NNP NNP
, , ,
Connors NNP NNP
, , ,
Cosmopulos NNP NNP
. . .
<s>
The DT DT
account NN NN
had VBD VBD
billed VBN VBN
about IN RB
$ $ $
6 CD CD
million CD CD
in IN IN
1988 CD CD
, , ,
according VBG VBG
to TO TO
Leading VBG NNP
National NNP NNP
Advertisers NNPS NNP
. . .
<s>
NOT-GUILTY JJ JJ
PLEA NN NN
: : :
As IN IN
expected VBN VBN
, , ,
Young NNP NNP
& CC CC
Rubicam NNP NNP
Inc. NNP NNP
along IN IN
with IN IN
two CD CD
senior JJ JJ
executives NNS NNS
and CC CC
a DT DT
former JJ JJ
employee NN NN
, , ,
pleaded VBD VBD
not RB RB
guilty JJ JJ
in IN IN
federal JJ JJ
court NN NN
in IN IN
New NNP NNP
Haven NNP NNP
, , ,
Conn. NNP NNP
, , ,
to TO TO
conspiracy NN NN
and CC CC
racketeering NN NN
charges NNS NNS
. . .
<s>
The DT DT
government NN NN
has VBZ VBZ
charged VBN VBN
that IN IN
they PRP PRP
bribed VBD VBD
Jamaican JJ JJ
officials NNS NNS
to TO TO
win VB VB
the DT DT
Jamaica NNP NNP
Tourist NNP NNP
Board NNP NNP
ad NN NN
account NN NN
in IN IN
1981 CD CD
. . .
<s>
A DT DT
spokesman NN NN
for IN IN
the DT DT
U.S. NNP NNP
Attorney NNP NNP
's POS POS
office NN NN
said VBD VBD
extradition NN NN
proceedings NNS NNS
are VBP VBP
`` `` ``
just RB RB
beginning VBG VBG
'' '' ''
for IN IN
the DT DT
other JJ JJ
two CD CD
defendants NNS NNS
in IN IN
the DT DT
case NN NN
, , ,
Eric NNP NNP
Anthony NNP NNP
Abrahams NNP NNP
, , ,
former JJ JJ
Jamaican JJ JJ
tourism NN NN
minister NN NN
, , ,
and CC CC
Jamaican JJ JJ
businessman NN NN
Arnold NNP NNP
Foote NNP NNP
Jr NNP NNP
. . .
<s>
KOREAN NNP JJ
AGENCY NNP NN
: : :
The DT DT
Samsung NNP NNP
Group NNP NNP
and CC CC
Bozell NNP NNP
Inc. NNP NNP
agreed VBD VBD
to TO TO
establish VB VB
a DT DT
joint JJ JJ
venture NN NN
advertising NN NN
agency NN NN
in IN IN
South NNP NNP
Korea NNP NNP
. . .
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Cheil NNP NNP
Corp. NNP NNP
, , ,
as IN IN
the DT DT
new JJ JJ
agency NN NN
will MD MD
be VB VB
called VBN VBN
, , ,
will MD MD
be VB VB
based VBN VBN
in IN IN
Seoul NNP NNP
and CC CC
is VBZ VBZ
70 CD CD
% NN NN
owned VBN VBN
by IN IN
Samsung NNP NNP
and CC CC
30 CD CD
% NN NN
owned VBN VBN
by IN IN
Bozell NNP NNP
. . .
<s>
Samsung NNP NNP
already RB RB
owns VBZ VBZ
Korea NNP NNP
First NNP NNP
Advertising NNP NNP
Co. NNP NNP
, , ,
that DT DT
country NN NN
's POS POS
largest JJS JJS
agency NN NN
. . .
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Bozell NNP NNP
joins VBZ VBZ
Backer NNP NNP
Spielvogel NNP NNP
Bates NNP NNP
and CC CC
Ogilvy NNP NNP
Group NNP NNP
as IN IN
U.S. NNP NNP
agencies NNS NNS
with IN IN
interests NNS NNS
in IN IN
Korean JJ JJ
agencies NNS NNS
. . .
<s>
Citing VBG VBG
a DT DT
payment NN NN
from IN IN
a DT DT
supplier NN NN
and CC CC
strong JJ JJ
sales NNS NNS
of IN IN
certain JJ JJ
data-storage JJ JJ
products NNS NNS
, , ,
Maxtor NNP NNP
Corp. NNP NNP
said VBD VBD
earnings NNS NNS
and CC CC
revenue NN NN
jumped VBD VBD
in IN IN
its PRP$ PRP$
second JJ JJ
quarter NN NN
ended VBD VBN
Sept. NNP NNP
24 CD CD
. . .
<s>
The DT DT
maker NN NN
of IN IN
computer-data-storage JJ JJ
products NNS NNS
said VBD VBD
net JJ JJ
income NN NN
rose VBD VBD
to TO TO
$ $ $
4.8 CD CD
million CD CD
, , ,
or CC CC
23 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
from IN IN
year-earlier JJ JJ
net NN NN
of IN IN
$ $ $
1.1 CD CD
million CD CD
, , ,
or CC CC
five CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
Revenue NN NN
soared VBD VBD
to TO TO
$ $ $
117 CD CD
million CD CD
from IN IN
$ $ $
81.5 CD CD
million CD CD
. . .
<s>
Maxtor NNP NNP
said VBD VBD
its PRP$ PRP$
results NNS NNS
were VBD VBD
boosted VBN VBN
by IN IN
$ $ $
2 CD CD
million CD CD
in IN IN
payments NNS NNS
received VBD VBN
from IN IN
a DT DT
supplier NN NN
, , ,
for IN IN
a DT DT
certain JJ JJ
line NN NN
of IN IN
products NNS NNS
that IN IN
Maxtor NNP NNP
is VBZ VBZ
n't RB RB
going VBG VBG
to TO TO
sell VB VB
anymore RB RB
. . .
<s>
Maxtor NNP NNP
said VBD VBD
effects NNS NNS
from IN IN
discontinuing VBG VBG
the DT DT
line NN NN
may MD MD
have VB VB
a DT DT
positive JJ JJ
effect NN NN
on IN IN
future JJ JJ
earnings NNS NNS
and CC CC
revenue NN NN
. . .
<s>
A DT DT
spokeswoman NN NN
would MD MD
n't RB RB
elaborate VB VB
, , ,
but CC CC
the DT DT
company NN NN
said VBD VBD
the DT DT
discontinued VBN VBN
product NN NN
has VBZ VBZ
never RB RB
been VBN VBN
a DT DT
major JJ JJ
source NN NN
of IN IN
revenue NN NN
or CC CC
profit NN NN
. . .
<s>
Operationally RB RB
, , ,
Maxtor NNP NNP
benefited VBD VBD
from IN IN
robust JJ JJ
sales NNS NNS
of IN IN
products NNS NNS
that IN WDT
store NN VBP
data NNS NNS
for IN IN
high-end JJ JJ
personal JJ JJ
computers NNS NNS
and CC CC
computer NN NN
workstations NNS NNS
. . .
<s>
In IN IN
the DT DT
fiscal JJ JJ
first JJ JJ
half NN NN
, , ,
net NN NN
was VBD VBD
$ $ $
7 CD CD
million CD CD
, , ,
or CC CC
34 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
up RB RB
from IN IN
the DT DT
year-earlier JJ JJ
$ $ $
3.1 CD CD
million CD CD
, , ,
or CC CC
15 CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
Revenue NN NN
rose VBD VBD
to TO TO
$ $ $
225.5 CD CD
million CD CD
from IN IN
$ $ $
161.8 CD CD
million CD CD
. . .
<s>
Robert NNP NNP
G. NNP NNP
Walden NNP NNP
, , ,
62 CD CD
years NNS NNS
old JJ JJ
, , ,
was VBD VBD
elected VBN VBN
a DT DT
director NN NN
of IN IN
this DT DT
provider NN NN
of IN IN
advanced JJ JJ
technology NN NN
systems NNS NNS
and CC CC
services NNS NNS
, , ,
increasing VBG VBG
the DT DT
board NN NN
to TO TO
eight CD CD
members NNS NNS
. . .
<s>
He PRP PRP
retired VBD VBD
as IN IN
senior JJ JJ
vice NN NN
president NN NN
, , ,
finance NN NN
and CC CC
administration NN NN
, , ,
and CC CC
chief JJ JJ
financial JJ JJ
officer NN NN
of IN IN
the DT DT
company NN NN
Oct. NNP NNP
1 CD CD
. . .
<s>
Southmark NNP NNP
Corp. NNP NNP
said VBD VBD
that IN IN
it PRP PRP
filed VBD VBD
part NN NN
of IN IN
its PRP$ PRP$
10-K JJ JJ
report NN NN
with IN IN
the DT DT
Securities NNPS NNP
and CC CC
Exchange NNP NNP
Commission NNP NNP
, , ,
but CC CC
that IN IN
the DT DT
filing NN NN
does VBZ VBZ
n't RB RB
include VB VB
its PRP$ PRP$
audited JJ JJ
financial JJ JJ
statements NNS NNS
and CC CC
related JJ JJ
information NN NN
. . .
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The DT DT
real JJ JJ
estate NN NN
and CC CC
thrift NN NN
concern NN NN
, , ,
operating VBG VBG
under IN IN
bankruptcy-law NN NN
proceedings NNS NNS
, , ,
said VBD VBD
it PRP PRP
told VBD VBD
the DT DT
SEC NNP NNP
it PRP PRP
could MD MD
n't RB RB
provide VB VB
financial JJ JJ
statements NNS NNS
by IN IN
the DT DT
end NN NN
of IN IN
its PRP$ PRP$
first JJ JJ
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`` `` ``
without IN IN
unreasonable JJ JJ
burden NN NN
or CC CC
expense NN NN
. . .
<s>
'' '' ''
The DT DT
company NN NN
asked VBD VBD
for IN IN
a DT DT
15-day JJ JJ
extension NN NN
Sept. NNP NNP
30 CD CD
, , ,
when WRB WRB
the DT DT
financial JJ JJ
reports NNS NNS
were VBD VBD
due JJ JJ
. . .
<s>
Southmark NNP NNP
said VBD VBD
it PRP PRP
plans VBZ VBZ
to TO TO
amend VB VB
its PRP$ PRP$
10K JJ JJ
to TO TO
provide VB VB
financial JJ JJ
results NNS NNS
as RB RB
soon RB RB
as IN IN
its PRP$ PRP$
audit NN NN
is VBZ VBZ
completed VBN VBN
. . .
<s>
Alan NNP NNP
Seelenfreund NNP NNP
, , ,
52 CD CD
years NNS NNS
old JJ JJ
, , ,
was VBD VBD
named VBN VBN
chairman NN NN
of IN IN
this DT DT
processor NN NN
of IN IN
prescription NN NN
claims NNS NNS
, , ,
succeeding VBG VBG
Thomas NNP NNP
W. NNP NNP
Field NNP NNP
Jr. NNP NNP
, , ,
55 CD CD
, , ,
who WP WP
resigned VBD VBD
last JJ JJ
month NN NN
. . .
<s>
Mr. NNP NNP
Field NNP NNP
also RB RB
had VBD VBD
been VBN VBN
chairman NN NN
of IN IN
McKesson NNP NNP
Corp. NNP NNP
, , ,
resigning VBG VBG
that DT DT
post NN NN
after IN IN
a DT DT
dispute NN NN
with IN IN
the DT DT
board NN NN
over IN IN
corporate JJ JJ
strategy NN NN
. . .
<s>
Mr. NNP NNP
Seelenfreund NNP NNP
is VBZ VBZ
executive JJ JJ
vice NN NN
president NN NN
and CC CC
chief NN JJ
financial JJ JJ
officer NN NN
of IN IN
McKesson NNP NNP
and CC CC
will MD MD
continue VB VB
in IN IN
those DT DT
roles NNS NNS
. . .
<s>
PCS NNS NNP
also RB RB
named VBD VBD
Rex NNP NNP
R. NNP NNP
Malson NNP NNP
, , ,
57 CD CD
, , ,
executive JJ JJ
vice NN NN
president NN NN
at IN IN
McKesson NNP NNP
, , ,
as IN IN
a DT DT
director NN NN
, , ,
filling VBG VBG
the DT DT
seat NN NN
vacated VBN VBN
by IN IN
Mr. NNP NNP
Field NNP NNP
. . .
<s>
Messrs. NNS NNP
Malson NNP NNP
and CC CC
Seelenfreund NNP NNP
are VBP VBP
directors NNS NNS
of IN IN
McKesson NNP NNP
, , ,
which WDT WDT
has VBZ VBZ
an DT DT
86 CD CD
% NN NN
stake NN NN
in IN IN
PCS NNP NNP
. . .
<s>
MedChem NNP NNP
Products NNPS NNP
Inc. NNP NNP
said VBD VBD
a DT DT
U.S. NNP NNP
District NNP NNP
Court NNP NNP
in IN IN
Boston NNP NNP
ruled VBD VBD
that IN IN
a DT DT
challenge NN NN
by IN IN
MedChem NNP NNP
to TO TO
the DT DT
validity NN NN
of IN IN
a DT DT
U.S. NNP NNP
patent NN NN
held VBN VBN
by IN IN
Pharmacia NNP NNP
Inc. NNP NNP
was VBD VBD
`` `` ``
without IN IN
merit NN NN
. . .
<s>
'' '' ''
Pharmacia NNP NNP
, , ,
based VBN VBN
in IN IN
Upsala NNP NNP
, , ,
Sweden NNP NNP
, , ,
had VBD VBD
charged VBN VBN
in IN IN
a DT DT
lawsuit NN NN
against IN IN
MedChem NNP NNP
that IN IN
MedChem NNP NNP
's POS POS
AMVISC NNP NNP
product NN NN
line NN NN
infringes VBZ VBZ
on IN IN
the DT DT
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patent NN NN
. . .
<s>
The DT DT
patent NN NN
is VBZ VBZ
related VBN VBN
to TO TO
hyaluronic JJ JJ
acid NN NN
, , ,
a DT DT
rooster-comb JJ NN
extract NN NN
used VBN VBN
in IN IN
eye NN NN
surgery NN NN
. . .
<s>
In IN IN
its PRP$ PRP$
lawsuit NN NN
, , ,
Pharmacia NNP NNP
is VBZ VBZ
seeking VBG VBG
unspecified JJ JJ
damages NNS NNS
and CC CC
a DT DT
preliminary JJ JJ
injunction NN NN
to TO TO
block VB VB
MedChem NNP NNP
from IN IN
selling VBG VBG
the DT DT
AMVISC NNP NNP
products NNS NNS
. . .
<s>
A DT DT
MedChem NNP NNP
spokesman NN NN
said VBD VBD
the DT DT
products NNS NNS
contribute VBP VBP
about IN RB
a DT DT
third JJ JJ
of IN IN
MedChem NNP NNP
's POS POS
sales NNS NNS
and CC CC
10 CD CD
% NN NN
to TO TO
20 CD CD
% NN NN
of IN IN
its PRP$ PRP$
earnings NNS NNS
. . .
<s>
In IN IN
the DT DT
year NN NN
ended VBN VBN
Aug. NNP NNP
31 CD CD
, , ,
1988 CD CD
, , ,
MedChem NNP NNP
earned VBD VBD
$ $ $
2.9 CD CD
million CD CD
, , ,
or CC CC
72 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
on IN IN
sales NNS NNS
of IN IN
$ $ $
17.4 CD CD
million CD CD
. . .
<s>
MedChem NNP NNP
said VBD VBD
the DT DT
court NN NN
's POS POS
ruling NN NN
was VBD VBD
issued VBN VBN
as IN IN
part NN NN
of IN IN
a DT DT
`` `` ``
first-phase JJ JJ
trial NN NN
'' '' ''
in IN IN
the DT DT
patent-infringement NN NN
proceedings NNS NNS
and CC CC
concerns NNS VBZ
only RB RB
one CD CD
of IN IN
its PRP$ PRP$
defenses NNS NNS
in IN IN
the DT DT
case NN NN
. . .
<s>
It PRP PRP
said VBD VBD
it PRP PRP
is VBZ VBZ
considering VBG VBG
`` `` ``
all DT DT
of IN IN
its PRP$ PRP$
options NNS NNS
in IN IN
light NN NN
of IN IN
the DT DT
decision NN NN
, , ,
including VBG VBG
a DT DT
possible JJ JJ
appeal NN NN
. . .
<s>
'' '' ''
The DT DT
medical-products NNS NNS
company NN NN
added VBD VBD
that IN IN
it PRP PRP
plans VBZ VBZ
to TO TO
`` `` ``
assert VB VB
its PRP$ PRP$
other JJ JJ
defenses NNS NNS
'' '' ''
against IN IN
Pharmacia NNP NNP
's POS POS
lawsuit NN NN
, , ,
including VBG VBG
the DT DT
claim NN NN
that IN IN
it PRP PRP
has VBZ VBZ
n't RB RB
infringed VBN VBN
on IN IN
Pharmacia NNP NNP
's POS POS
patent NN NN
. . .
<s>
MedChem NNP NNP
said VBD VBD
that IN IN
the DT DT
court NN NN
scheduled VBD VBD
a DT DT
conference NN NN
for IN IN
next JJ JJ
Monday NNP NNP
-- : :
to TO TO
set VB VB
a DT DT
date NN NN
for IN IN
proceedings NNS NNS
on IN IN
Pharmacia NNP NNP
's POS POS
motion NN NN
for IN IN
a DT DT
preliminary JJ JJ
injunction NN NN
. . .
<s>
Newspaper NNP NN
publishers NNS NNS
are VBP VBP
reporting VBG VBG
mixed JJ JJ
third-quarter JJ JJ
results NNS NNS
, , ,
aided VBN VBN
by IN IN
favorable JJ JJ
newsprint NN NN
prices NNS NNS
and CC CC
hampered VBN VBN
by IN IN
flat JJ JJ
or CC CC
declining VBG JJ
advertising NN NN
linage NN NN
, , ,
especially RB RB
in IN IN
the DT DT
Northeast NNP NNP
. . .
<s>
Adding VBG VBG
to TO TO
unsteadiness : NN
in IN IN
the DT DT
industry NN NN
, , ,
seasonal JJ JJ
retail JJ JJ
ad NN NN
spending NN NN
patterns NNS NNS
in IN IN
newspapers NNS NNS
have VBP VBP
been VBN VBN
upset VBN VBN
by IN IN
shifts NNS NNS
in IN IN
ownership NN NN
and CC CC
general JJ JJ
hardships NNS NNS
within IN IN
the DT DT
retail JJ JJ
industry NN NN
. . .
<s>
In IN IN
New NNP NNP
York NNP NNP
, , ,
the DT DT
Bonwit NNP NNP
Teller NNP NNP
and CC CC
B. NNP NNP
Altman NNP NNP
& CC CC
Co. NNP NNP
department NN NN
stores NNS NNS
have VBP VBP
filed VBN VBN
for IN IN
protection NN NN
from IN IN
creditors NNS NNS
under IN IN
Chapter NN NNP
11 CD CD
of IN IN
the DT DT
federal JJ JJ
Bankruptcy NNP NNP
Code NNP NNP
, , ,
while IN IN
the DT DT
R.H. NNP NNP
Macy NNP NNP
& CC CC
Co. NNP NNP
, , ,
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's POS POS
and CC CC
Saks NNP NNP
Fifth NNP NNP
Avenue NNP NNP
department-store NN NN
chains NNS NNS
are VBP VBP
for IN IN
sale NN NN
. . .
<s>
Many JJ JJ
papers NNS NNS
throughout IN IN
the DT DT
country NN NN
are VBP VBP
also RB RB
faced VBN VBN
with IN IN
a DT DT
slowdown NN NN
in IN IN
classified-ad JJ NN
spending NN NN
, , ,
a DT DT
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category NN NN
for IN IN
newspapers NNS NNS
in IN IN
recent JJ JJ
years NNS NNS
. . .
<s>
Until IN IN
recently RB RB
, , ,
industry NN NN
analysts NNS NNS
believed VBD VBD
decreases VBZ NNS
in IN IN
retail JJ JJ
ad NN NN
spending NN NN
had VBD VBD
bottomed VBN VBN
out RP RP
and CC CC
would MD MD
in IN IN
fact NN NN
increase NN VB
in IN IN
this DT DT
year NN NN
's POS POS
third JJ JJ
and CC CC
fourth JJ JJ
quarters NNS NNS
. . .
<s>
All DT DT
bets NNS NNS
are VBP VBP
off RP RB
, , ,
analysts NNS NNS
say VBP VBP
, , ,
because IN IN
of IN IN
the DT DT
shifting VBG JJ
ownership NN NN
of IN IN
the DT DT
retail JJ JJ
chains NNS NNS
. . .
<s>
`` `` ``
Improved : JJ
paper NN NN
prices NNS NNS
will MD MD
help VB VB
offset VB VB
weakness NN NN
in IN IN
linage NN NN
, , ,
but CC CC
the DT DT
retailers NNS NNS
' POS POS
problems NNS NNS
have VBP VBP
affected VBN VBN
the DT DT
amount NN NN
of IN IN
ad NN NN
linage NN NN
they PRP PRP
usually RB RB
run VBP VBP
, , ,
'' '' ''
said VBD VBD
Edward NNP NNP
J. NNP NNP
Atorino NNP NNP
, , ,
industry NN NN
analyst NN NN
for IN IN
Salomon NNP NNP
Brothers NNPS NNP
Inc NNP NNP
. . .
<s>
`` `` ``
Retailers NNS NNS
are VBP VBP
just RB RB
in IN IN
disarray NN NN
. . .
<s>
'' '' ''
For IN IN
instance NN NN
, , ,
Gannett NNP NNP
Co. NNP NNP
posted VBD VBD
an DT DT
11 CD CD
% NN NN
gain NN NN
in IN IN
net JJ JJ
income NN NN
, , ,
as IN IN
total JJ JJ
ad NN NN
pages NNS NNS
dropped VBD VBD
at IN IN
USA NNP NNP
Today NNP NNP
, , ,
but CC CC
advertising NN NN
revenue NN NN
rose VBD VBD
because IN IN
of IN IN
a DT DT
higher JJR JJR
circulation NN NN
rate NN NN
base NN NN
and CC CC
increased VBN JJ
rates NNS NNS
. . .
<s>
Gannett NNP NNP
's POS POS
83 CD CD
daily JJ JJ
and CC CC
35 CD CD
non-daily JJ JJ
newspapers NNS NNS
reported VBD VBD
a DT DT
3 CD CD
% NN NN
increase NN NN
in IN IN
advertising NN NN
and CC CC
circulation NN NN
revenue NN NN
. . .
<s>
Total JJ JJ
advertising NN NN
linage NN NN
was VBD VBD
`` `` ``
modestly RB RB
'' '' ''
lower RBR JJR
as IN IN
classified-ad JJ NN
volume NN NN
increased VBD VBD
, , ,
while IN IN
there EX EX
was VBD VBD
`` `` ``
softer JJR JJR
demand NN NN
'' '' ''
for IN IN
retail JJ JJ
and CC CC
national JJ JJ
ad NN NN
linage NN NN
, , ,
said VBD VBD
John NNP NNP
Curley NNP NNP
, , ,
Gannett NNP NNP
's POS POS
chief JJ JJ
executive NN JJ
officer NN NN
. . .
<s>
At IN IN
USA NNP NNP
Today NNP NNP
, , ,
ad NN NN
pages NNS NNS
totaled VBD VBD
785 CD CD
for IN IN
the DT DT
quarter NN NN
, , ,
down RB RB
9.2 CD CD
% NN NN
from IN IN
the DT DT
1988 CD CD
period NN NN
, , ,
which WDT WDT
was VBD VBD
helped VBN VBN
by IN IN
increased VBN JJ
ad NN NN
spending NN NN
from IN IN
the DT DT
Summer NNP NNP
Olympics NNPS NNPS
. . .
<s>
While IN IN
USA NNP NNP
Today NNP NNP
's POS POS
total NN JJ
paid VBD JJ
ad NN NN
pages NNS NNS
for IN IN
the DT DT
year NN NN
to TO TO
date NN NN
totaled VBD VBD
2,735 CD CD
, , ,
a DT DT
decrease NN NN
of IN IN
4 CD CD
% NN NN
from IN IN
last JJ JJ
year NN NN
, , ,
the DT DT
paper NN NN
's POS POS
ad NN NN
revenue NN NN
increased VBD VBD
8 CD CD
% NN NN
in IN IN
the DT DT
quarter NN NN
and CC CC
13 CD CD
% NN NN
in IN IN
the DT DT
nine CD CD
months NNS NNS
. . .
<s>
In IN IN
the DT DT
nine CD CD
months NNS NNS
, , ,
Gannett NNP NNP
's POS POS
net NN NN
rose VBD VBD
9.5 CD CD
% NN NN
to TO TO
$ $ $
270 CD CD
million CD CD
, , ,
or CC CC
$ $ $
1.68 CD CD
a DT DT
share NN NN
, , ,
from IN IN
$ $ $
247 CD CD
million CD CD
, , ,
or CC CC
$ $ $
1.52 CD CD
a DT DT
share NN NN
. . .
<s>
Revenue NN NN
gained VBD VBD
6 CD CD
% NN NN
to TO TO
$ $ $
2.55 CD CD
billion CD CD
from IN IN
$ $ $
2.4 CD CD
billion CD CD
. . .
<s>
At IN IN
Dow NNP NNP
Jones NNP NNP
& CC CC
Co. NNP NNP
, , ,
third-quarter JJ JJ
net JJ NN
income NN NN
fell VBD VBD
9.9 CD CD
% NN NN
from IN IN
the DT DT
year-earlier JJ JJ
period NN NN
. . .
<s>
Net NN NN
fell VBD VBD
to TO TO
$ $ $
28.8 CD CD
million CD CD
, , ,
or CC CC
29 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
from IN IN
$ $ $
32 CD CD
million CD CD
, , ,
or CC CC
33 CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
The DT DT
year-earlier JJ JJ
period NN NN
included VBD VBD
a DT DT
one-time JJ JJ
gain NN NN
of IN IN
$ $ $
3.5 CD CD
million CD CD
, , ,
or CC CC
four CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
Revenue NN NN
gained VBD VB
5.3 CD CD
% NN NN
to TO TO
$ $ $
404.1 CD CD
million CD CD
from IN IN
$ $ $
383.8 CD CD
million CD CD
. . .
<s>
The DT DT
drop NN NN
in IN IN
profit NN NN
reflected VBN VBD
, , ,
in IN IN
part NN NN
, , ,
continued VBD JJ
softness NN NN
in IN IN
financial JJ JJ
advertising NN NN
at IN IN
The DT DT
Wall NNP NNP
Street NNP NNP
Journal NNP NNP
and CC CC
Barron NNP NNP
's POS POS
magazine NN NN
. . .
<s>
Ad NN NN
linage NN NN
at IN IN
the DT DT
Journal NNP NNP
fell VBD VBD
6.1 CD CD
% NN NN
in IN IN
the DT DT
third JJ JJ
quarter NN NN
. . .
<s>
Affiliated NNP NNP
Publications NNPS NNP
Inc. NNP NNP
reversed VBD VBD
a DT DT
year-earlier JJ JJ
third JJ JJ
quarter NN NN
net JJ JJ
loss NN NN
. . .
<s>
The DT DT
publisher NN NN
of IN IN
the DT DT
Boston NNP NNP
Globe NNP NNP
reported VBD VBD
net NN NN
of IN IN
$ $ $
8.5 CD CD
million CD CD
, , ,
or CC CC
12 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
compared VBN VBN
with IN IN
a DT DT
loss NN NN
of IN IN
$ $ $
26.5 CD CD
million CD CD
, , ,
or CC CC
38 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
for IN IN
the DT DT
third JJ JJ
quarter NN NN
in IN IN
1988 CD CD
. . .
<s>
William NNP NNP
O. NNP NNP
Taylor NNP NNP
, , ,
the DT DT
parent NN NN
's POS POS
chairman NN NN
and CC CC
chief JJ JJ
executive NN JJ
officer NN NN
, , ,
said VBD VBD
earnings NNS NNS
continued VBD VBD
to TO TO
be VB VB
hurt VBN VBN
by IN IN
softness NN NN
in IN IN
ad NN NN
volume NN NN
at IN IN
the DT DT
Boston NNP NNP
newspaper NN NN
. . .
<s>
Third-quarter JJ JJ
profit NN NN
estimates NNS NNS
for IN IN
several JJ JJ
companies NNS NNS
are VBP VBP
being VBG VBG
strongly RB RB
affected VBN VBN
by IN IN
the DT DT
price NN NN
of IN IN
newsprint NN NN
, , ,
which WDT WDT
in IN IN
the DT DT
last JJ JJ
two CD CD
years NNS NNS
has VBZ VBZ
had VBN VBD
several JJ JJ
price NN NN
increases NNS NNS
. . .
<s>
After IN IN
a DT DT
supply NN NN
crunch NN NN
caused VBD VBD
prices NNS NNS
to TO TO
rise VB VB
14 CD CD
% NN NN
since IN IN
1986 CD CD
to TO TO
$ $ $
650 CD CD
a DT DT
metric JJ JJ
ton NN NN
, , ,
analysts NNS NNS
are VBP VBP
encouraged VBN JJ
, , ,
because IN IN
they PRP PRP
do VBP VBP
n't RB RB
expect VB VB
a DT DT
price NN NN
increase NN NN
for IN IN
the DT DT
rest NN NN
of IN IN
this DT DT
year NN NN
. . .
<s>
Companies NNS NNS
with IN IN
daily JJ JJ
newspapers NNS NNS
in IN IN
the DT DT
Northeast NNP NNP
will MD MD
need VB VB
the DT DT
stable JJ JJ
newsprint NN NN
prices NNS NNS
to TO TO
ease VB VB
damage NN NN
from IN IN
weak JJ JJ
ad NN NN
linage NN NN
. . .
<s>
Mr. NNP NNP
Atorino NNP NNP
at IN IN
Salomon NNP NNP
Brothers NNPS NNP
said VBD VBD
he PRP PRP
estimates VBZ VBZ
that IN IN
Times NNP NNP
Mirror NNP NNP
Co. NNP NNP
's POS POS
earnings NNS NNS
were VBD VBD
down RB RB
for IN IN
the DT DT
third JJ JJ
quarter NN NN
, , ,
because IN IN
of IN IN
soft JJ JJ
advertising NN NN
levels NNS NNS
at IN IN
its PRP$ PRP$
Long NNP NNP
Island NNP NNP
Newsday NNP NNP
and CC CC
Hartford NNP NNP
Courant NNP NNP
newspapers NNS NNS
. . .
<s>
Trouble NN NN
on IN IN
the DT DT
East NNP NNP
Coast NNP NNP
was VBD VBD
likely RB RB
offset VBN VBN
by IN IN
improved VBN JJ
ad NN NN
linage NN NN
at IN IN
the DT DT
Los NNP NNP
Angeles NNP NNP
Times NNP NNP
, , ,
which WDT WDT
this DT DT
week NN NN
also RB RB
unveiled VBD VBD
a DT DT
redesign NN NN
. . .
<s>
New NNP NNP
York NNP NNP
Times NNP NNP
Co. NNP NNP
is VBZ VBZ
expected VBN VBN
to TO TO
report VB VB
lower JJR JJR
earnings NNS NNS
for IN IN
the DT DT
third JJ JJ
quarter NN NN
because IN IN
of IN IN
continued VBN JJ
weak JJ JJ
advertising NN NN
levels NNS NNS
at IN IN
its PRP$ PRP$
flagship NN NN
New NNP NNP
York NNP NNP
Times NNP NNP
and CC CC
deep JJ RB
discounting NN NN
of IN IN
newsprint NN NN
at IN IN
its PRP$ PRP$
affiliate NN NN
, , ,
Forest NNP NNP
Products NNP NNP
Group NNP NNP
. . .
<s>
`` `` ``
Times NNP NNP
Co. NNP NNP
's POS POS
regional JJ JJ
daily JJ JJ
newspapers NNS NNS
are VBP VBP
holding VBG VBG
up RP RP
well RB RB
, , ,
but CC CC
there EX EX
is VBZ VBZ
little JJ JJ
sign NN NN
that IN IN
things NNS NNS
will MD MD
improve VB VB
in IN IN
the DT DT
New NNP NNP
York NNP NNP
market NN NN
, , ,
'' '' ''
said VBD VBD
Alan NNP NNP
Kassan NNP NNP
, , ,
an DT DT
analyst NN NN
with IN IN
Shearson NNP NNP
Lehman NNP NNP
Hutton NNP NNP
. . .
<s>
Washington NNP NNP
Post NNP NNP
Co. NNP NNP
is VBZ VBZ
expected VBN VBN
to TO TO
report VB VB
improved VBN JJ
earnings NNS NNS
, , ,
largely RB RB
because IN IN
of IN IN
increased VBN JJ
cable NN NN
revenue NN NN
and CC CC
publishing VBG NN
revenue NN NN
helped VBN VBN
by IN IN
an DT DT
improved VBN JJ
retail JJ JJ
market NN NN
in IN IN
the DT DT
Washington NNP NNP
area NN NN
. . .
<s>
According VBG VBG
to TO TO
analysts NNS NNS
, , ,
profits NNS NNS
were VBD VBD
also RB RB
helped VBN VBN
by IN IN
successful JJ JJ
cost-cutting JJ JJ
measures NNS NNS
at IN IN
Newsweek NNP NNP
. . .
<s>
The DT DT
news-weekly : NN
has VBZ VBZ
faced VBN VBN
heightened VBN JJ
competition NN NN
from IN IN
rival JJ JJ
Time NNP NNP
magazine NN NN
and CC CC
a DT DT
relatively RB RB
flat JJ JJ
magazine NN NN
advertising NN NN
market NN NN
. . .
<s>
Knight-Ridder NNP NNP
Inc. NNP NNP
is VBZ VBZ
faced VBN VBN
with IN IN
continued JJ JJ
uncertainty NN NN
over IN IN
the DT DT
pending VBG VBG
joint NN JJ
operating NN NN
agreement NN NN
between IN IN
its PRP$ PRP$
Detroit NNP NNP
Free NNP NNP
Press NNP NNP
and CC CC
Gannett NNP NNP
's POS POS
Detroit NNP NNP
News NNP NNP
, , ,
and CC CC
has VBZ VBZ
told VBN VBN
analysts NNS NNS
that IN IN
earnings NNS NNS
were VBD VBD
down RB RB
in IN IN
the DT DT
third JJ JJ
quarter NN NN
. . .
<s>
However RB RB
, , ,
analysts NNS NNS
point VBP VBP
to TO TO
positive JJ JJ
advertising NN NN
spending NN NN
at IN IN
several JJ JJ
of IN IN
its PRP$ PRP$
major JJ JJ
daily JJ JJ
newspapers NNS NNS
, , ,
such JJ JJ
as IN IN
the DT DT
Miami NNP NNP
Herald NNP NNP
and CC CC
San NNP NNP
Jose NNP NNP
Mercury NNP NNP
News NNP NNP
. . .
<s>
`` `` ``
The DT DT
Miami NNP NNP
market NN NN
is VBZ VBZ
coming VBG VBG
back RB RB
strong JJ JJ
after IN IN
a DT DT
tough JJ JJ
couple NN NN
of IN IN
years NNS NNS
'' '' ''
when WRB WRB
Knight-Ridder NNP NNP
`` `` ``
was VBD VBD
starting VBG VBG
up RP RP
a DT DT
Hispanic JJ JJ
edition NN NN
and CC CC
circulation NN NN
was VBD VBD
falling VBG VBG
, , ,
'' '' ''
said VBD VBD
Bruce NNP NNP
Thorp NNP NNP
, , ,
an DT DT
analyst NN NN
for IN IN
Provident NNP NNP
National NNP NNP
Bank NNP NNP
. . .
<s>
General NNP NNP
Motors NNPS NNP
Corp. NNP NNP
, , ,
in IN IN
a DT DT
series NN NN
of IN IN
moves NNS NNS
that WDT WDT
angered VBD VBD
union NN NN
officials NNS NNS
in IN IN
the DT DT
U.S. NNP NNP
and CC CC
Canada NNP NNP
, , ,
has VBZ VBZ
signaled VBN VBN
that IN IN
as RB RB
many JJ JJ
as IN IN
five CD CD
North JJ JJ
American JJ JJ
assembly NN NN
plants NNS NNS
may MD MD
not RB RB
survive VB VB
the DT DT
mid-1990s NNS NNS
as IN IN
the DT DT
corporation NN NN
struggles VBZ VBZ
to TO TO
cut VB VB
its PRP$ PRP$
excess JJ JJ
vehicle-making JJ JJ
capacity NN NN
. . .
<s>
In IN IN
announcements NNS NNS
to TO TO
workers NNS NNS
late RB RB
last JJ JJ
week NN NN
, , ,
GM NNP NNP
effectively RB RB
signed VBD VBD
death NN NN
notices NNS NNS
for IN IN
two CD CD
full-sized JJ JJ
van NN NN
assembly NN NN
plants NNS NNS
, , ,
and CC CC
cast VBD VBD
serious JJ JJ
doubt NN NN
on IN IN
the DT DT
futures NNS NNS
of IN IN
three CD CD
U.S. NNP NNP
car NN NN
factories NNS NNS
. . .
<s>
GM NNP NNP
is VBZ VBZ
under IN IN
intense JJ JJ
pressure NN NN
to TO TO
close VB VB
factories NNS NNS
that WDT WDT
became VBD VBD
unprofitable JJ JJ
as IN IN
the DT DT
giant JJ JJ
auto NN NN
maker NN NN
's POS POS
U.S. NNP NNP
market NN NN
share NN NN
skidded VBD VBD
during IN IN
the DT DT
past JJ JJ
decade NN NN
. . .
<s>
The DT DT
company NN NN
, , ,
currently RB RB
using VBG VBG
about IN RB
80 CD CD
% NN NN
of IN IN
its PRP$ PRP$
North JJ JJ
American JJ JJ
vehicle NN NN
capacity NN NN
, , ,
has VBZ VBZ
vowed VBN VBN
it PRP PRP
will MD MD
run VB VB
at IN IN
100 CD CD
% NN NN
of IN IN
capacity NN NN
by IN IN
1992 CD CD
. . .
<s>
Just RB RB
a DT DT
month NN NN
ago RB RB
, , ,
GM NNP NNP
announced VBD VBD
it PRP PRP
would MD MD
make VB VB
an DT DT
aging NN VBG
assembly NN NN
plant NN NN
in IN IN
Lakewood NNP NNP
, , ,
Ga. NNP NNP
, , ,
the DT DT
eighth JJ JJ
U.S. NNP NNP
assembly NN NN
facility NN NN
to TO TO
close VB VB
since IN IN
1987 CD CD
. . .
<s>
Now RB RB
, , ,
GM NNP NNP
appears VBZ VBZ
to TO TO
be VB VB
stepping VBG VBG
up RP RP
the DT DT
pace NN NN
of IN IN
its PRP$ PRP$
factory NN NN
consolidation NN NN
to TO TO
get VB VB
in IN IN
shape NN NN
for IN IN
the DT DT
1990s CD NNS
. . .
<s>
One CD CD
reason NN NN
is VBZ VBZ
mounting VBG VBG
competition NN NN
from IN IN
new JJ JJ
Japanese JJ JJ
car NN NN
plants NNS NNS
in IN IN
the DT DT
U.S. NNP NNP
that WDT WDT
are VBP VBP
pouring VBG VBG
out RP RP
more JJR JJR
than IN IN
one CD CD
million CD CD
vehicles NNS NNS
a DT DT
year NN NN
at IN IN
costs NNS NNS
lower JJR JJR
than IN IN
GM NNP NNP
can MD MD
match VB VB
. . .
<s>
Another DT DT
is VBZ VBZ
that IN IN
United NNP NNP
Auto NNP NNP
Workers NNPS NNPS
union NN NN
officials NNS NNS
have VBP VBP
signaled VBN VBN
they PRP PRP
want VBP VBP
tighter JJR JJR
no-layoff JJ JJ
provisions NNS NNS
in IN IN
the DT DT
new JJ JJ
Big NNP NNP
Three CD CD
national JJ JJ
contract NN NN
that WDT WDT
will MD MD
be VB VB
negotiated VBN VBN
next JJ JJ
year NN NN
. . .
<s>
GM NNP NNP
officials NNS NNS
want VBP VBP
to TO TO
get VB VB
their PRP$ PRP$
strategy NN NN
to TO TO
reduce VB VB
capacity NN NN
and CC CC
the DT DT
work NN NN
force NN NN
in IN IN
place NN NN
before IN IN
those DT DT
talks NNS NNS
begin VBP VBP
. . .
<s>
The DT DT
problem NN NN
, , ,
however RB RB
, , ,
is VBZ VBZ
that IN IN
GM NNP NNP
's POS POS
moves NNS NNS
are VBP VBP
coming VBG VBG
at IN IN
a DT DT
time NN NN
when WRB WRB
UAW NNP NNP
leaders NNS NNS
are VBP VBP
trying VBG VBG
to TO TO
silence NN VB
dissidents NNS NNS
who WP WP
charge VBP VBP
the DT DT
union NN NN
is VBZ VBZ
too RB RB
passive JJ JJ
in IN IN
the DT DT
face NN NN
of IN IN
GM NNP NNP
layoffs NNS NNS
. . .
<s>
Against IN IN
that DT DT
backdrop NN NN
, , ,
UAW NNP NNP
Vice NNP NNP
President NNP NNP
Stephen NNP NNP
P. NNP NNP
Yokich NNP NNP
, , ,
who WP WP
recently RB RB
became VBD VBD
head NN NN
of IN IN
the DT DT
union NN NN
's POS POS
GM NNP NNP
department NN NN
, , ,
issued VBD VBD
a DT DT
statement NN NN
Friday NNP NNP
blasting VBG VBG
GM NNP NNP
's POS POS
`` `` ``
flagrant JJ JJ
insensitivity NN NN
'' '' ''
toward IN IN
union NN NN
members NNS NNS
. . .
<s>
The DT DT
auto NN NN
maker NN NN
's POS POS
decision NN NN
to TO TO
let VB VB
word NN NN
of IN IN
the DT DT
latest JJS JJS
shutdowns NNS NNS
and CC CC
product NN NN
reassignments NNS NNS
trickle VB VBP
out RP RP
in IN IN
separate JJ JJ
communiques NNS NNS
to TO TO
the DT DT
affected VBN JJ
plants NNS NNS
showed VBD VBD
`` `` ``
disarray NN NN
'' '' ''
and CC CC
an DT DT
`` `` ``
inability NN NN
or CC CC
unwillingness NN NN
to TO TO
provide VB VB
consistent JJ JJ
information NN NN
, , ,
'' '' ''
Mr. NNP NNP
Yokich NNP NNP
said VBD VBD
. . .
<s>
GM NNP NNP
officials NNS NNS
told VBD VBD
workers NNS NNS
late RB RB
last JJ JJ
week NN NN
of IN IN
the DT DT
following JJ JJ
moves NNS NNS
: : :
Production NN NN
of IN IN
full-sized JJ JJ
vans NNS NNS
will MD MD
be VB VB
consolidated VBN VBN
into IN IN
a DT DT
single JJ JJ
plant NN NN
in IN IN
Flint NNP NNP
, , ,
Mich NNP NNP
. . .
<s>
That DT DT
means VBZ VBZ
two CD CD
plants NNS NNS
-- : :
one CD CD
in IN IN
Scarborough NNP NNP
, , ,
Ontario NNP NNP
, , ,
and CC CC
the DT DT
other JJ JJ
in IN IN
Lordstown NNP NNP
, , ,
Ohio NNP NNP
-- : :
probably RB RB
will MD MD
be VB VB
shut VBN VBN
down RP RP
after IN IN
the DT DT
end NN NN
of IN IN
1991 CD CD
. . .
<s>
The DT DT
shutdowns NNS NNS
will MD MD
idle VB VB
about IN RB
3,000 CD CD
Canadian JJ JJ
assembly NN NN
workers NNS NNS
and CC CC
about IN JJ
2,500 CD CD
workers NNS NNS
in IN IN
Ohio NNP NNP
. . .
<s>
Robert NNP NNP
White NNP NNP
, , ,
Canadian NNP NNP
Auto NNP NNP
Workers NNPS NNP
union NN NN
president NN NN
, , ,
used VBD VBD
the DT DT
impending JJ JJ
Scarborough NNP NNP
shutdown NN NN
to TO TO
criticize VB VB
the DT DT
U.S.-Canada NNP NNP
free JJ JJ
trade NN NN
agreement NN NN
and CC CC
its PRP$ PRP$
champion NN NN
, , ,
Prime NNP NNP
Minister NNP NNP
Brian NNP NNP
Mulroney NNP NNP
. . .
<s>
But CC CC
Canadian JJ JJ
auto NN NN
workers NNS NNS
may MD MD
benefit VB VB
from IN IN
a DT DT
separate JJ JJ
GM NNP NNP
move NN NN
that WDT WDT
affects VBZ VBZ
three CD CD
U.S. NNP NNP
car NN NN
plants NNS NNS
and CC CC
one CD CD
in IN IN
Quebec NNP NN
. . .
<s>
Workers NNS NNS
at IN IN
plants NNS NNS
in IN IN
Van NNP NNP
Nuys NNP NNP
, , ,
Calif. NNP NNP
, , ,
Oklahoma NNP NNP
City NNP NNP
and CC CC
Pontiac NNP NNP
, , ,
Mich. NNP NNP
, , ,
were VBD VBD
told VBN VBN
their PRP$ PRP$
facilities NNS NNS
are VBP VBP
no RB RB
longer RB RBR
being VBG NN
considered VBN VBN
to TO TO
build VB VB
the DT DT
next JJ JJ
generation NN NN
of IN IN
the DT DT
Pontiac NNP NNP
Firebird NNP NNP
and CC CC
Chevrolet NNP NNP
Camaro NNP NNP
muscle NN NN
cars NNS NNS
. . .
<s>
GM NNP NNP
is VBZ VBZ
studying VBG VBG
whether IN IN
it PRP PRP
can MD MD
build VB VB
the DT DT
new JJ JJ
Camaro-Firebird NNP NNP
profitably RB RB
at IN IN
a DT DT
plant NN NN
in IN IN
St. NNP NNP
Therese NNP NNP
, , ,
Quebec NNP NNP
, , ,
company NN NN
and CC CC
union NN NN
officials NNS NNS
said VBD VBD
. . .
<s>
That DT DT
announcement NN NN
left VBD VBD
union NN NN
officials NNS NNS
in IN IN
Van NNP NNP
Nuys NNP NNP
and CC CC
Oklahoma NNP NNP
City NNP NNP
uncertain JJ JJ
about IN IN
their PRP$ PRP$
futures NNS NNS
. . .
<s>
The DT DT
Van NNP NNP
Nuys NNP NNP
plant NN NN
, , ,
which WDT WDT
employs VBZ VBZ
about IN RB
3,000 CD CD
workers NNS NNS
, , ,
does VBZ VBZ
n't RB RB
have VB VB
a DT DT
product NN NN
to TO TO
build VB VB
after IN IN
1993 CD CD
. . .
<s>
Jerry NNP NNP
Shrieves NNP NNP
, , ,
UAW NNP NNP
local JJ JJ
president NN NN
, , ,
said VBD VBD
the DT DT
facility NN NN
was VBD VBD
asked VBN VBN
to TO TO
draw VB VB
up RP RP
plans NNS NNS
to TO TO
continue VB VB
working VBG VBG
as IN IN
a DT DT
`` `` ``
flex NN JJ
plant NN NN
, , ,
'' '' ''
which WDT WDT
could MD MD
build VB VB
several JJ JJ
different JJ JJ
types NNS NNS
of IN IN
products NNS NNS
on IN IN
short JJ JJ
notice NN NN
to TO TO
satisfy VB VB
demand NN NN
. . .
<s>
At IN IN
the DT DT
Oklahoma NNP NNP
City NNP NNP
plant NN NN
, , ,
which WDT WDT
employs VBZ VBZ
about IN RB
6,000 CD CD
workers NNS NNS
building VBG VBG
the DT DT
eight-year-old NN JJ
A-body JJ JJ
mid-sized JJ JJ
cars NNS NNS
, , ,
Steve NNP NNP
Featherston NNP NNP
, , ,
UAW NNP NNP
local JJ JJ
vice NN NN
president NN NN
, , ,
said VBD VBD
the DT DT
plant NN NN
has VBZ VBZ
no DT DT
new JJ JJ
product NN NN
lined VBD VBN
up RP RP
, , ,
and CC CC
`` `` ``
none NN NN
of IN IN
us PRP PRP
knows VBZ VBZ
'' '' ''
when WRB WRB
the DT DT
A-body : JJ
cars NNS NNS
will MD MD
die VB VB
. . .
<s>
He PRP PRP
said VBD VBD
he PRP PRP
believes VBZ VBZ
GM NNP NNP
has VBZ VBZ
plans NNS NNS
to TO TO
keep VB VB
building NN VBG
A-body JJ JJ
cars NNS NNS
into IN IN
the DT DT
mid-1990s NNS NNS
. . .
<s>
At IN IN
Pontiac NNP NNP
, , ,
however RB RB
, , ,
the DT DT
Camaro-Firebird NNP NNP
decision NN NN
appears VBZ VBZ
to TO TO
erase VB VB
UAW NNP NNP
hopes VBZ NNS
that IN IN
GM NNP NNP
would MD MD
reopen VB VB
the DT DT
shuttered VBD JJ
assembly NN NN
plant NN NN
that IN WDT
last JJ RB
built VBD VBD
the DT DT
plastic-bodied JJ JJ
, , ,
two-seater JJ JJ
Pontiac NNP NNP
Fiero NNP NNP
model NN NN
. . .
<s>
The DT DT
Fiero NNP NNP
plant NN NN
was VBD VBD
viewed VBN VBN
as IN IN
a DT DT
model NN NN
of IN IN
union-management JJ JJ
cooperation NN NN
at IN IN
GM NNP NNP
before IN IN
slow JJ JJ
sales NNS NNS
of IN IN
the DT DT
Fiero NNP NNP
forced VBD VBD
the DT DT
company NN NN
to TO TO
close VB VB
the DT DT
factory NN NN
last JJ JJ
year NN NN
. . .
<s>
Union NN NN
officials NNS NNS
have VBP VB
taken VBN VBN
a DT DT
beating NN NN
politically RB RB
as IN IN
a DT DT
result NN NN
. . .
<s>
Dissident JJ NNP
UAW NNP NNP
members NNS NNS
have VBP VBP
used VBN VBN
the DT DT
Fiero NNP NNP
plant NN NN
as IN IN
a DT DT
symbol NN NN
of IN IN
labor-management JJ JJ
cooperation NN NN
's POS POS
failure NN NN
. . .
<s>
Institut NNP NNP
Merieux NNP NNP
S.A. NNP NNP
of IN IN
France NNP NNP
said VBD VBD
the DT DT
Canadian JJ JJ
government NN NN
raised VBD VBD
an DT DT
obstacle NN NN
to TO TO
its PRP$ PRP$
proposed VBN JJ
acquisition NN NN
of IN IN
Connaught NNP NNP
BioSciences NNP NNP
Inc. NNP NNP
for IN IN
942 CD CD
million CD CD
Canadian JJ JJ
dollars NNS NNS
( ( (
US$ $ $
801.6 CD CD
million CD CD
) ) )
. . .
<s>
Merieux NNP NNP
said VBD VBD
the DT DT
government NN NN
's POS POS
minister NN NN
of IN IN
industry NN NN
, , ,
science NN NN
and CC CC
technology NN NN
told VBD VBD
it PRP PRP
that IN IN
he PRP PRP
was VBD VBD
n't RB RB
convinced VBN JJ
that IN IN
the DT DT
purchase NN NN
is VBZ VBZ
likely JJ JJ
to TO TO
be VB VB
of IN IN
`` `` ``
net JJ JJ
benefit NN NN
'' '' ''
to TO TO
Canada NNP NNP
. . .
<s>
Canadian JJ JJ
investment NN NN
rules NNS NNS
require VBP VBP
that IN IN
big JJ JJ
foreign JJ JJ
takeovers NNS NNS
meet VBP VB
that IN DT
standard NN NN
. . .
<s>
The DT DT
French JJ JJ
company NN NN
said VBD VBD
the DT DT
government NN NN
gave VBD VBD
it PRP PRP
30 CD CD
days NNS NNS
in IN IN
which WDT WDT
to TO TO
submit VB VB
information NN NN
to TO TO
further JJ RB
support VB VB
its PRP$ PRP$
takeover NN NN
plan NN NN
. . .
<s>
Both DT DT
Merieux NNP NNP
and CC CC
Connaught NNP NNP
are VBP VBP
biotechnology NN NN
research NN NN
and CC CC
vaccine NN NN
manufacturing NN NN
concerns NNS NNS
. . .
<s>
The DT DT
government NN NN
's POS POS
action NN NN
was VBD VBD
unusual JJ JJ
. . .
<s>
Alan NNP NNP
Nymark NNP NNP
, , ,
executive JJ JJ
vice NN NN
president NN NN
of IN IN
Investment NNP NNP
Canada NNP NNP
, , ,
which WDT WDT
oversees VBZ VBZ
foreign JJ JJ
takeovers NNS NNS
, , ,
said VBD VBD
it PRP PRP
marked VBD VBD
the DT DT
first JJ JJ
time NN NN
in IN IN
its PRP$ PRP$
four-year JJ JJ
history NN NN
that IN IN
the DT DT
agency NN NN
has VBZ VBZ
made VBN VBN
an DT DT
adverse JJ JJ
net-benefit JJ JJ
decision NN NN
about IN IN
the DT DT
acquisition NN NN
of IN IN
a DT DT
publicly RB RB
traded VBN VBN
company NN NN
. . .
<s>
He PRP PRP
said VBD VBD
it PRP PRP
has VBZ VBZ
reached VBN VBN
the DT DT
same JJ JJ
conclusions NNS NNS
about IN IN
some DT DT
attempts NNS NNS
to TO TO
buy VB VB
closely RB RB
held VBN VBN
concerns NNS NNS
, , ,
but CC CC
eventually RB RB
allowed VBD VBD
those DT DT
acquisitions NNS NNS
to TO TO
proceed VB VB
. . .
<s>
`` `` ``
This DT DT
is VBZ VBZ
n't RB RB
a DT DT
change NN NN
in IN IN
government NN NN
policy NN NN
; : :
this DT DT
provision NN NN
has VBZ VBZ
been VBN VBN
used VBN VBN
before RB RB
, , ,
'' '' ''
said VBD VBD
Jodi NNP NNP
Redmond NNP NNP
, , ,
press NN NN
secretary NN NN
for IN IN
Harvie NNP NNP
Andre NNP NNP
, , ,
Canada NNP NNP
's POS POS
minister NN NN
of IN IN
industry NN NN
, , ,
science NN NN
and CC CC
technology NN NN
. . .
<s>
Mr. NNP NNP
Andre NNP NNP
issued VBD VBD
the DT DT
ruling NN NN
based VBN VBN
on IN IN
a DT DT
recommendation NN NN
by IN IN
Investment NNP NNP
Canada NNP NNP
. . .
<s>
Spokesmen NNP NNP
for IN IN
Merieux NNP NNP
and CC CC
Connaught NNP NNP
said VBD VBD
they PRP PRP
had VBD VBD
n't RB RB
been VBN VBN
informed VBN VBN
of IN IN
specific JJ JJ
areas NNS NNS
of IN IN
concern NN NN
by IN IN
either CC CC
the DT DT
government NN NN
or CC CC
Investment NNP NNP
Canada NNP NNP
, , ,
but CC CC
added VBD VBD
they PRP PRP
hope VBP VBP
to TO TO
have VB VB
more JJR JJR
information NN NN
early RB RB
this DT DT
week NN NN
. . .
<s>
Investment NN NNP
Canada NNP NNP
declined VBD VBD
to TO TO
comment VB VB
on IN IN
the DT DT
reasons NNS NNS
for IN IN
the DT DT
government NN NN
decision NN NN
. . .
<s>
Viren NNP NNP
Mehta NNP NNP
, , ,
a DT DT
partner NN NN
with IN IN
Mehta NNP NNP
& CC CC
Isaly NNP NNP
, , ,
a DT DT
New NNP NNP
York-based JJ JJ
pharmaceutical JJ JJ
industry NN NN
research NN NN
firm NN NN
, , ,
said VBD VBD
the DT DT
government NN NN
's POS POS
ruling NN NN
was VBD VBD
n't RB RB
unexpected JJ JJ
. . .
<s>
`` `` ``
This DT DT
has VBZ VBZ
become VBN VBN
a DT DT
very RB RB
politicized VBN JJ
deal NN NN
, , ,
concerning VBG VBG
Canada NNP NNP
's POS POS
only RB JJ
large JJ JJ
, , ,
world-class JJ JJ
bio-research NN NN
or CC CC
pharmaceutical JJ JJ
company NN NN
, , ,
'' '' ''
Mr. NNP NNP
Mehta NNP NNP
said VBD VBD
. . .
<s>
Mr. NNP NNP
Mehta NNP NNP
said VBD VBD
the DT DT
move NN NN
that WDT WDT
could MD MD
allow VB VB
the DT DT
transaction NN NN
to TO TO
go VB VB
ahead RB RB
as IN IN
planned VBN VBN
could MD MD
be VB VB
an DT DT
out-of-court JJ JJ
settlement NN NN
of IN IN
Connaught NNP NNP
's POS POS
dispute NN NN
with IN IN
the DT DT
University NNP NNP
of IN IN
Toronto NNP NNP
. . .
<s>
The DT DT
University NNP NNP
is VBZ VBZ
seeking VBG VBG
to TO TO
block VB VB
the DT DT
acquisition NN NN
of IN IN
Connaught NNP NNP
by IN IN
foreign JJ JJ
interests NNS NNS
, , ,
citing VBG VBG
concerns NNS NNS
about IN IN
the DT DT
amount NN NN
of IN IN
research NN NN
that WDT WDT
would MD MD
be VB VB
done VBN VBN
in IN IN
Canada NNP NNP
. . .
<s>
The DT DT
university NN NN
is VBZ VBZ
considering VBG VBG
a DT DT
settlement NN NN
proposal NN NN
made VBN VBN
by IN IN
Connaught NNP NNP
. . .
<s>
While IN IN
neither DT DT
side NN NN
will MD MD
disclose VB VB
its PRP$ PRP$
contents NNS NNS
, , ,
Mr. NNP NNP
Mehta NNP NNP
expects VBZ VBZ
it PRP PRP
to TO TO
contain VB VB
more JJR RBR
specific JJ JJ
guarantees NNS NNS
on IN IN
research NN NN
and CC CC
development NN NN
spending NN NN
levels NNS NNS
in IN IN
Canada NNP NNP
than IN IN
Merieux NNP NNP
offered VBD VBD
to TO TO
Investment NNP NNP
Canada NNP NNP
. . .
<s>
Some DT DT
analysts NNS NNS
, , ,
such JJ JJ
as IN IN
Murray NNP NNP
Grossner NNP NNP
of IN IN
Toronto-based NNP JJ
Richardson NNP NNP
Greenshields NNP NNP
Inc. NNP NNP
, , ,
believe VBP VBP
the DT DT
government NN NN
ruling NN NN
leaves VBZ VBZ
the DT DT
door NN NN
open JJ JJ
for IN IN
other JJ JJ
bidders NNS NNS
, , ,
such JJ JJ
as IN IN
Switzerland NNP NNP
's POS POS
Ciba-Geigy NNP NNP
and CC CC
Chiron NNP NNP
Corp. NNP NNP
of IN IN
Emeryville NNP NNP
, , ,
Calif NNP NNP
. . .
<s>
Officials NNS NNS
for IN IN
the DT DT
two CD CD
concerns NNS NNS
, , ,
which WDT WDT
are VBP VBP
bidding VBG VBG
C$ $ $
30 CD CD
a DT DT
share NN NN
for IN IN
Connaught NNP NNP
, , ,
could MD MD
n't RB RB
be VB VB
reached VBN VBN
for IN IN
comment NN NN
. . .
<s>
French JJ JJ
state-owned JJ JJ
Rhone-Poulenc NNP NNP
S.A. NNP NNP
holds VBZ VBZ
51 CD CD
% NN NN
of IN IN
Merieux NNP NNP
. . .
<s>
Weatherford NNP NNP
International NNP NNP
Inc. NNP NNP
said VBD VBD
it PRP PRP
canceled VBD VBD
plans NNS NNS
for IN IN
a DT DT
preferred-stock JJ NN
swap NN NN
but CC CC
may MD MD
resume VB VB
payment NN NN
of IN IN
dividends NNS NNS
on IN IN
the DT DT
stock NN NN
, , ,
and CC CC
added VBD VBD
that IN IN
it PRP PRP
expects VBZ VBZ
to TO TO
publicly RB RB
offer VB VB
about IN RB
10 CD CD
million CD CD
common JJ JJ
shares NNS NNS
. . .
<s>
The DT DT
company NN NN
said VBD VBD
it PRP PRP
planned VBD VBD
to TO TO
offer VB VB
an DT DT
undetermined JJ JJ
number NN NN
of IN IN
common JJ JJ
shares NNS NNS
in IN IN
exchange NN NN
for IN IN
the DT DT
585,000 CD CD
shares NNS NNS
of IN IN
its PRP$ PRP$
preferred JJ JJ
stock NN NN
outstanding JJ JJ
. . .
<s>
The DT DT
exchange NN NN
ratio NN NN
was VBD VBD
never RB RB
established VBN VBN
. . .
<s>
Weatherford NNP NNP
said VBD VBD
market NN NN
conditions NNS NNS
led VBD VBD
to TO TO
the DT DT
cancellation NN NN
of IN IN
the DT DT
planned VBN JJ
exchange NN NN
. . .
<s>
The DT DT
energy-services JJ NNS
concern NN NN
said VBD VBD
, , ,
however RB RB
, , ,
that IN IN
in IN IN
January NNP NNP
1990 CD CD
, , ,
it PRP PRP
may MD MD
resume VB VB
payments NNS NNS
of IN IN
dividends NNS NNS
on IN IN
the DT DT
preferred JJ JJ
stock NN NN
. . .
<s>
Weatherford NNP NNP
suspended VBD VBD
its PRP$ PRP$
preferred-dividend JJ JJ
payment NN NN
in IN IN
October NNP NNP
1985 CD CD
and CC CC
said VBD VBD
it PRP PRP
has VBZ VBZ
n't RB RB
any DT DT
plans NNS NNS
to TO TO
catch VB VB
up RP RP
on IN IN
dividends NNS NNS
in IN IN
arrears NNS NNS
about IN RB
$ $ $
6 CD CD
million CD CD
, , ,
but CC CC
will MD MD
do VB VB
so RB RB
some DT DT
time NN NN
in IN IN
the DT DT
future NN NN
. . .
<s>
Additionally RB RB
, , ,
the DT DT
company NN NN
said VBD VBD
it PRP PRP
filed VBD VBD
with IN IN
the DT DT
Securities NNPS NNP
and CC CC
Exchange NNP NNP
Commission NNP NNP
for IN IN
the DT DT
proposed VBN JJ
offering NN NN
of IN IN
10 CD CD
million CD CD
shares NNS NNS
of IN IN
common JJ JJ
stock NN NN
, , ,
expected VBN VBN
to TO TO
be VB VB
offered VBN VBN
in IN IN
November NNP NNP
. . .
<s>
The DT DT
company NN NN
said VBD VBD
Salomon NNP NNP
Brothers NNP NNP
Inc. NNP NNP
and CC CC
Howard NNP NNP
, , ,
Weil NNP NNP
, , ,
Labouisse NNP NNP
, , ,
Friedrichs NNP NNP
Inc. NNP NNP
, , ,
underwriters NNS NNS
for IN IN
the DT DT
offering NN NN
, , ,
were VBD VBD
granted VBN VBN
an DT DT
option NN NN
to TO TO
buy VB VB
as RB RB
much JJ JJ
as IN IN
an DT DT
additional JJ JJ
1.5 CD CD
million CD CD
shares NNS NNS
to TO TO
cover VB VB
over-allotments : NNS
. . .
<s>
Proceeds NNS NNS
will MD MD
be VB VB
used VBN VBN
to TO TO
eliminate VB VB
and CC CC
restructure VB VB
bank NN NN
debt NN NN
. . .
<s>
Weatherford NNP NNP
currently RB RB
has VBZ VBZ
approximately RB RB
11.1 CD CD
million CD CD
common JJ JJ
shares NNS NNS
outstanding JJ JJ
. . .
<s>
Earnings NNS NNS
for IN IN
most JJS JJS
of IN IN
the DT DT
nation NN NN
's POS POS
major JJ JJ
pharmaceutical JJ JJ
makers NNS NNS
are VBP VBP
believed VBN VBN
to TO TO
have VB VB
moved VBN VBN
ahead RB RB
briskly RB RB
in IN IN
the DT DT
third JJ JJ
quarter NN NN
, , ,
as IN IN
companies NNS NNS
with IN IN
newer JJR JJR
, , ,
big-selling JJ JJ
prescription NN NN
drugs NNS NNS
fared VBD VBD
especially RB RB
well RB RB
. . .
<s>
For IN IN
the DT DT
third JJ JJ
consecutive JJ JJ
quarter NN NN
, , ,
however RB RB
, , ,
most JJS JJS
of IN IN
the DT DT
companies NNS NNS
' POS POS
revenues NNS NNS
were VBD VBD
battered VBN VBN
by IN IN
adverse JJ JJ
foreign-currency NN NN
translations NNS NNS
as IN IN
a DT DT
result NN NN
of IN IN
the DT DT
strong JJ JJ
dollar NN NN
abroad RB RB
. . .
<s>
Analysts NNS NNS
said VBD VBD
that IN IN
Merck NNP NNP
& CC CC
Co. NNP NNP
, , ,
Eli NNP NNP
Lilly NNP NNP
& CC CC
Co. NNP NNP
, , ,
Warner-Lambert NNP NNP
Co. NNP NNP
and CC CC
the DT DT
Squibb NNP NNP
Corp. NNP NNP
unit NN NN
of IN IN
Bristol-Myers NNP NNP
Squibb NNP NNP
Co. NNP NNP
all DT DT
benefited VBD VBD
from IN IN
strong JJ JJ
sales NNS NNS
of IN IN
relatively RB RB
new JJ JJ
, , ,
higher-priced JJ JJ
medicines NNS NNS
that WDT WDT
provide VBP VBP
wide JJ JJ
profit NN NN
margins NNS NNS
. . .
<s>
Less RBR RBR
robust JJ JJ
earnings NNS NNS
at IN IN
Pfizer NNP NNP
Inc. NNP NNP
and CC CC
Upjohn NNP NNP
Co. NNP NNP
were VBD VBD
attributed VBN VBN
to TO TO
those DT DT
companies NNS NNS
' POS POS
older JJR JJR
products NNS NNS
, , ,
many JJ JJ
of IN IN
which WDT WDT
face VBP VBP
stiffening VBG JJ
competition NN NN
from IN IN
generic JJ JJ
drugs NNS NNS
and CC CC
other JJ JJ
medicines NNS NNS
. . .
<s>
Joseph NNP NNP
Riccardo NNP NNP
, , ,
an DT DT
analyst NN NN
with IN IN
Bear NNP NNP
, , ,
Stearns NNP NNP
& CC CC
Co. NNP NNP
, , ,
said VBD VBD
that IN IN
over IN IN
the DT DT
past JJ JJ
few JJ JJ
years NNS NNS
most JJS JJS
drug NN NN
makers NNS NNS
have VBP VBP
shed VBN VBN
their PRP$ PRP$
slow-growing JJ JJ
businesses NNS NNS
and CC CC
instituted VBD VBN
other JJ JJ
cost NN NN
savings NNS NNS
, , ,
such JJ JJ
as IN IN
consolidating VBG VBG
manufacturing NN NN
plants NNS NNS
and CC CC
administrative JJ JJ
staffs NNS NNS
. . .
<s>
As IN IN
a DT DT
result NN NN
, , ,
`` `` ``
major JJ JJ
new JJ JJ
products NNS NNS
are VBP VBP
having VBG VBG
significant JJ JJ
impact NN NN
, , ,
even RB RB
on IN IN
a DT DT
company NN NN
with IN IN
very RB RB
large JJ JJ
revenues NNS NNS
, , ,
'' '' ''
Mr. NNP NNP
Riccardo NNP NNP
said VBD VBD
. . .
<s>
Analysts NNS NNS
said VBD VBD
profit NN NN
for IN IN
the DT DT
dozen NN NN
or CC CC
so RB RB
big JJ JJ
drug NN NN
makers NNS NNS
, , ,
as IN IN
a DT DT
group NN NN
, , ,
is VBZ VBZ
estimated VBN VBN
to TO TO
have VB VB
climbed VBN VBN
between IN IN
11 CD CD
% NN NN
and CC CC
14 CD CD
% NN NN
. . .
<s>
While IN IN
that DT DT
's VBZ VBZ
not RB RB
spectacular JJ JJ
, , ,
Neil NNP NNP
Sweig NNP NNP
, , ,
an DT DT
analyst NN NN
with IN IN
Prudential NNP NNP
Bache NNP NNP
, , ,
said VBD VBD
that IN IN
the DT DT
rate NN NN
of IN IN
growth NN NN
will MD MD
`` `` ``
look VB VB
especially RB RB
good JJ JJ
as IN IN
compared VBN VBN
to TO TO
other JJ JJ
companies NNS NNS
if IN IN
the DT DT
economy NN NN
turns VBZ VBZ
downward RB RB
. . .
<s>
'' '' ''
Mr. NNP NNP
Sweig NNP NNP
estimated VBD VBD
that IN IN
Merck NNP NNP
's POS POS
profit NN NN
for IN IN
the DT DT
quarter NN NN
rose VBD VBD
by IN IN
about RB RB
22 CD CD
% NN NN
, , ,
propelled VBN VBN
by IN IN
sales NNS NNS
of IN IN
its PRP$ PRP$
line-up JJ NN
of IN IN
fast-growing JJ JJ
prescription NN NN
drugs NNS NNS
, , ,
including VBG VBG
its PRP$ PRP$
anti-cholesterol JJ JJ
drug NN NN
, , ,
Mevacor NNP NNP
; : :
a DT DT
high JJ JJ
blood NN NN
pressure NN NN
medicine NN NN
, , ,
Vasotec : NNP
; : :
Primaxin NNP NNP
, , ,
an DT DT
antibiotic JJ NN
, , ,
and CC CC
Pepcid NNP NNP
, , ,
an DT DT
anti-ulcer JJ JJ
medication NN NN
. . .
<s>
Profit NN NN
climbed VBD VBD
even RB RB
though IN IN
Merck NNP NNP
's POS POS
sales NNS NNS
were VBD VBD
reduced VBN VBN
by IN IN
`` `` ``
one CD CD
to TO TO
three CD CD
percentage NN NN
points NNS NNS
'' '' ''
as IN IN
a DT DT
result NN NN
of IN IN
the DT DT
strong JJ JJ
dollar NN NN
, , ,
Mr. NNP NNP
Sweig NNP NNP
said VBD VBD
. . .
<s>
In IN IN
the DT DT
third JJ JJ
quarter NN NN
of IN IN
1988 CD CD
, , ,
Merck NNP NNP
earned VBD VBD
$ $ $
311.8 CD CD
million CD CD
, , ,
or CC CC
79 CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
In IN IN
Rahway NNP NNP
, , ,
N.J. NNP NNP
, , ,
a DT DT
Merck NNP NNP
spokesman NN NN
said VBD VBD
the DT DT
company NN NN
does VBZ VBZ
n't RB RB
make VB VB
earnings NNS NN
projections NNS NNS
. . .
<s>
Mr. NNP NNP
Sweig NNP NNP
said VBD VBD
he PRP PRP
estimated VBD VBD
that IN IN
Lilly NNP NNP
's POS POS
earnings NNS NNS
for IN IN
the DT DT
quarter NN NN
jumped VBD VBD
about IN RB
20 CD CD
% NN NN
, , ,
largely RB RB
because IN IN
of IN IN
the DT DT
performance NN NN
of IN IN
its PRP$ PRP$
new JJ JJ
anti-depressant JJ NN
Prozac NNP NNP
. . .
<s>
The DT DT
drug NN NN
, , ,
introduced VBN VBD
last JJ JJ
year NN NN
, , ,
is VBZ VBZ
expected VBN VBN
to TO TO
generate VB VB
sales NNS NNS
of IN IN
about RB RB
$ $ $
300 CD CD
million CD CD
this DT DT
year NN NN
. . .
<s>
`` `` ``
It PRP PRP
's VBZ VBZ
turning VBG VBG
out RP RP
to TO TO
be VB VB
a DT DT
real JJ JJ
blockbuster NN NN
, , ,
'' '' ''
Mr. NNP NNP
Sweig NNP NNP
said VBD VBD
. . .
<s>
In IN IN
last JJ JJ
year NN NN
's POS POS
third JJ JJ
quarter NN NN
, , ,
Lilly NNP NNP
earned VBD VBD
$ $ $
171.4 CD CD
million CD CD
, , ,
or CC CC
$ $ $
1.20 CD CD
a DT DT
share NN NN
. . .
<s>
In IN IN
Indianapolis NNP NNP
, , ,
Lilly NNP NNP
declined VBD VBD
comment NN NN
. . .
<s>
Several JJ JJ
analysts NNS NNS
said VBD VBD
they PRP PRP
expected VBD VBD
Warner-Lambert NNP NNP
's POS POS
profit NN NN
also RB RB
to TO TO
increase VB VB
by IN IN
more JJR JJR
than IN IN
20 CD CD
% NN NN
from IN IN
$ $ $
87.7 CD CD
million CD CD
, , ,
or CC CC
$ $ $
1.25 CD CD
a DT DT
share NN NN
, , ,
it PRP PRP
reported VBD VBD
in IN IN
the DT DT
like JJ JJ
period NN NN
last JJ JJ
year NN NN
. . .
<s>
The DT DT
company NN NN
is VBZ VBZ
praised VBN VBN
by IN IN
analysts NNS NNS
for IN IN
sharply RB RB
lowering VBG VBG
its PRP$ PRP$
costs NNS NNS
in IN IN
recent JJ JJ
years NNS NNS
and CC CC
shedding VBG VBG
numerous JJ JJ
companies NNS NNS
with IN IN
low JJ JJ
profit NN NN
margins NNS NNS
. . .
<s>
The DT DT
company NN NN
's POS POS
lean JJ JJ
operation NN NN
, , ,
analysts NNS NNS
said VBD VBD
, , ,
allowed VBD VBD
sharp-rising JJ JJ
sales NNS NNS
from IN IN
its PRP$ PRP$
cholesterol NN NN
drug NN NN
, , ,
Lopid NNP NNP
, , ,
to TO TO
power NN VB
earnings NNS NNS
growth NN NN
. . .
<s>
Lopid JJ NNP
sales NNS NNS
are VBP VBP
expected VBN VBN
to TO TO
be VB VB
about IN RB
$ $ $
300 CD CD
million CD CD
this DT DT
year NN NN
, , ,
up RB RB
from IN IN
$ $ $
190 CD CD
million CD CD
in IN IN
1988 CD CD
. . .
<s>
In IN IN
Morris NNP NNP
Plains NNP NNP
, , ,
N.J. NNP NNP
, , ,
a DT DT
spokesman NN NN
for IN IN
the DT DT
company NN NN
said VBD VBD
the DT DT
analysts NNS NNS
' POS POS
projections NNS NNS
are VBP VBP
`` `` ``
in IN IN
the DT DT
ballpark NN NN
. . .
<s>
'' '' ''
Squibb NNP NNP
's POS POS
profit NN NN
, , ,
estimated VBN VBN
by IN IN
analysts NNS NNS
to TO TO
be VB VB
about IN RB
18 CD CD
% NN NN
above IN IN
the DT DT
$ $ $
123 CD CD
million CD CD
, , ,
or CC CC
$ $ $
1.25 CD CD
a DT DT
share NN NN
, , ,
it PRP PRP
earned VBD VBD
in IN IN
the DT DT
third JJ JJ
quarter NN NN
of IN IN
1988 CD CD
, , ,
was VBD VBD
the DT DT
result NN NN
of IN IN
especially RB RB
strong JJ JJ
sales NNS NNS
of IN IN
its PRP$ PRP$
Capoten NNP NNP
drug NN NN
for IN IN
treating VBG VBG
high JJ JJ
blood NN NN
pressure NN NN
and CC CC
other JJ JJ
heart NN NN
disease NN NN
. . .
<s>
The DT DT
company NN NN
was VBD VBD
officially RB RB
merged VBN VBN
with IN IN
Bristol-Myers NNP NNP
Co. NNP NNP
earlier RBR RBR
this DT DT
month NN NN
. . .
<s>
Bristol-Myers NNP NNP
declined VBD VBD
to TO TO
comment VB VB
. . .
<s>
Mr. NNP NNP
Riccardo NNP NNP
of IN IN
Bear NNP NNP
Stearns NNP NNP
said VBD VBD
that IN IN
Schering-Plough NNP NNP
Corp. NNP NNP
's POS POS
expected VBN JJ
profit NN NN
rise NN NN
of IN IN
about IN RB
18 CD CD
% NN NN
to TO TO
20 CD CD
% NN NN
, , ,
and CC CC
Bristol-Meyers : NNP
's POS POS
expected VBN JJ
profit NN NN
increase NN NN
of IN IN
about IN RB
13 CD CD
% NN NN
are VBP VBP
largely RB RB
because IN IN
`` `` ``
those DT DT
companies NNS NNS
are VBP VBP
really RB RB
managed VBN VBN
well RB RB
. . .
<s>
'' '' ''
ScheringPlough NNP NN
earned VBD VBD
$ $ $
94.4 CD CD
million CD CD
, , ,
or CC CC
84 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
while IN IN
Bristol-Myers NNP NNP
earned VBD VBD
$ $ $
232.3 CD CD
million CD CD
, , ,
or CC CC
81 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
in IN IN
the DT DT
like JJ JJ
period NN NN
a DT DT
year NN NN
earlier RBR RBR
. . .
<s>
In IN IN
Madison NNP NNP
, , ,
N.J. NNP NNP
, , ,
a DT DT
spokesman NN NN
for IN IN
Schering-Plough NNP NNP
said VBD VBD
the DT DT
company NN NN
has VBZ VBZ
`` `` ``
no DT DT
problems NNS NNS
'' '' ''
with IN IN
the DT DT
average JJ JJ
estimate NN NN
by IN IN
a DT DT
analysts NNS NNS
that IN IN
third-quarter JJ JJ
earnings NNS NNS
per IN IN
share NN NN
rose NN VBD
by IN IN
about RB RB
19 CD CD
% NN NN
, , ,
to TO TO
$ $ $
1 CD CD
. . .
<s>
The DT DT
company NN NN
expects VBZ VBZ
to TO TO
achieve VB VB
the DT DT
20 CD CD
% NN NN
increase NN NN
in IN IN
full-year JJ JJ
earnings NNS NNS
per IN IN
share NN NN
, , ,
as IN IN
it PRP PRP
projected VBD VBD
in IN IN
the DT DT
spring NN NN
, , ,
the DT DT
spokesman NN NN
said VBD VBD
. . .
<s>
Meanwhile RB RB
, , ,
analysts NNS NNS
said VBD VBD
Pfizer NNP NNP
's POS POS
recent JJ JJ
string NN NN
of IN IN
lackluster JJ JJ
quarterly JJ JJ
performances NNS NNS
continued VBN VBD
, , ,
as IN IN
earnings NNS NNS
in IN IN
the DT DT
quarter NN NN
were VBD VBD
expected VBN VBN
to TO TO
decline VB VB
by IN IN
about RB RB
5 CD CD
% NN NN
. . .
<s>
Sales NNS NNP
of IN IN
Pfizer NNP NNP
's POS POS
important JJ JJ
drugs NNS NNS
, , ,
Feldene NNP NNP
for IN IN
treating VBG VBG
arthritis NN NN
, , ,
and CC CC
Procardia NNP NNP
, , ,
a DT DT
heart NN NN
medicine NN NN
, , ,
have VBP VBP
shrunk VBN VBN
because IN RB
of IN IN
increased VBN JJ
competition NN NN
. . .
<s>
`` `` ``
The DT DT
( ( (
strong JJ JJ
) ) )
dollar NN NN
hurt VBD VBD
Pfizer NNP NNP
a DT DT
lot NN NN
, , ,
too RB RB
, , ,
'' '' ''
Mr. NNP NNP
Sweig NNP NNP
said VBD VBD
. . .
<s>
In IN IN
the DT DT
third JJ JJ
quarter NN NN
last JJ JJ
year NN NN
, , ,
Pfizer NNP NNP
earned VBD VBD
$ $ $
216.8 CD CD
million CD CD
, , ,
or CC CC
$ $ $
1.29 CD CD
a DT DT
share NN NN
. . .
<s>
In IN IN
New NNP NNP
York NNP NNP
, , ,
the DT DT
company NN NN
declined VBD VBD
comment NN NN
. . .
<s>
Analysts NNS NNS
said VBD VBD
they PRP PRP
expected VBD VBD
Upjohn NNP NNP
's POS POS
profit NN NN
to TO TO
be VB VB
flat JJ JJ
or CC CC
rise VB VB
by IN IN
only RB RB
about IN RB
2 CD CD
% NN NN
to TO TO
4 CD CD
% NN NN
as IN IN
compared VBN VBN
with IN IN
$ $ $
89.6 CD CD
million CD CD
, , ,
or CC CC
49 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
it PRP PRP
earned VBD VBD
a DT DT
year NN NN
ago RB RB
. . .
<s>
Upjohn NNP NNP
's POS POS
biggest-selling JJ JJ
drugs NNS NNS
are VBP VBP
Xanax NNP NNP
, , ,
a DT DT
tranquilizer NN NN
, , ,
and CC CC
Halcion NNP NNP
, , ,
a DT DT
sedative JJ NN
. . .
<s>
Sales NNS NNS
of IN IN
both DT DT
drugs NNS NNS
have VBP VBP
been VBN VBN
hurt VBN VBN
by IN IN
new JJ JJ
state NN NN
laws NNS NNS
restricting VBG VBG
the DT DT
prescriptions NNS NNS
of IN IN
certain JJ JJ
tranquilizing : JJ
medicines NNS NNS
and CC CC
adverse JJ JJ
publicity NN NN
about IN IN
the DT DT
excessive JJ JJ
use NN NN
of IN IN
the DT DT
drugs NNS NNS
. . .
<s>
Also RB RB
, , ,
the DT DT
company NN NN
's POS POS
hair-growing JJ JJ
drug NN NN
, , ,
Rogaine NNP NNP
, , ,
is VBZ VBZ
selling VBG VBG
well RB RB
-- : :
at IN IN
about IN RB
$ $ $
125 CD CD
million CD CD
for IN IN
the DT DT
year NN NN
, , ,
but CC CC
the DT DT
company NN NN
's POS POS
profit NN NN
from IN IN
the DT DT
drug NN NN
has VBZ VBZ
been VBN VBN
reduced VBN VBN
by IN IN
Upjohn NNP NNP
's POS POS
expensive JJ JJ
print NN NN
and CC CC
television NN NN
campaigns NNS NNS
for IN IN
advertising NN VBG
, , ,
analysts NNS NNS
said VBD VBD
. . .
<s>
In IN IN
Kalamazoo NNP NNP
, , ,
Mich. NNP NNP
, , ,
Upjohn NNP NNP
declined VBD VBD
comment NN NN
. . .
<s>
Amid IN IN
a DT DT
crowd NN NN
of IN IN
crashing VBG VBG
stocks NNS NNS
, , ,
Relational JJ NNP
Technology NNP NNP
Inc. NNP NNP
's POS POS
stock NN NN
fell VBD VBD
particularly RB RB
hard JJ RB
Friday NNP NNP
, , ,
dropping VBG VBG
23 CD CD
% NN NN
because IN IN
its PRP$ PRP$
problems NNS NNS
were VBD VBD
compounded VBN VBN
by IN IN
disclosure NN NN
of IN IN
an DT DT
unexpected JJ JJ
loss NN NN
for IN IN
its PRP$ PRP$
fiscal JJ JJ
first JJ JJ
quarter NN NN
. . .
<s>
The DT DT
database NN NN
software NN NN
company NN NN
said VBD VBD
it PRP PRP
expects VBZ VBZ
a DT DT
$ $ $
2 CD CD
million CD CD
net JJ JJ
loss NN NN
for IN IN
the DT DT
fiscal JJ JJ
first JJ JJ
quarter NN NN
ended VBN VBN
Sept. NNP NNP
30 CD CD
. . .
<s>
It PRP PRP
said VBD VBD
analysts NNS NNS
had VBD VBD
been VBN VBN
expecting VBG VBG
a DT DT
small JJ JJ
profit NN NN
for IN IN
the DT DT
period NN NN
. . .
<s>
Revenue NN NN
is VBZ VBZ
expected VBN VBN
to TO TO
be VB VB
`` `` ``
up RP RB
modestly RB RB
'' '' ''
from IN IN
the DT DT
$ $ $
26.5 CD CD
million CD CD
reported VBN VBN
a DT DT
year NN NN
ago RB RB
. . .
<s>
Relational JJ NNP
Technology NN NNP
reported VBD VBD
net JJ JJ
income NN NN
of IN IN
$ $ $
1.5 CD CD
million CD CD
, , ,
or CC CC
12 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
in IN IN
the DT DT
year-earlier JJ JJ
period NN NN
. . .
<s>
`` `` ``
While IN IN
our PRP$ PRP$
international JJ JJ
operations NNS NNS
showed VBD VBD
strong JJ JJ
growth NN NN
, , ,
our PRP$ PRP$
domestic JJ JJ
business NN NN
was VBD VBD
substantially RB RB
below IN IN
expectations NNS NNS
, , ,
'' '' ''
said VBD VBD
Paul NNP NNP
Newton NNP NNP
, , ,
president NN NN
and CC CC
chief JJ JJ
executive NN JJ
officer NN NN
. . .
<s>
A DT DT
spokesman NN NN
said VBD VBD
the DT DT
company NN NN
's POS POS
first JJ JJ
quarter NN NN
is VBZ VBZ
historically RB RB
soft JJ JJ
, , ,
and CC CC
computer NN NN
companies NNS NNS
in IN IN
general JJ JJ
are VBP VBP
experiencing VBG VBG
slower JJR JJR
sales NNS NNS
. . .
<s>
Mr. NNP NNP
Newton NNP NNP
said VBD VBD
he PRP PRP
accepted VBD VBD
the DT DT
resignation NN NN
of IN IN
Thomas NNP NNP
Wilson NNP NNP
, , ,
vice NN NN
president NN NN
of IN IN
corporate JJ JJ
sales NNS NNS
, , ,
and CC CC
that IN IN
his PRP$ PRP$
marketing NN NN
responsibilities NNS NNS
have VBP VBP
been VBN VBN
reassigned VBN VBN
. . .
<s>
The DT DT
company NN NN
said VBD VBD
Mr. NNP NNP
Wilson NNP NNP
's POS POS
resignation NN NN
was VBD VBD
n't RB RB
related VBN VBN
to TO TO
the DT DT
sales NNS NNS
shortfall NN NN
. . .
<s>
Relational JJ NNP
Technology NN NNP
went VBD VBD
public JJ NN
in IN IN
May NNP NNP
1988 CD CD
at IN IN
$ $ $
14 CD CD
a DT DT
share NN NN
. . .
<s>
It PRP PRP
fell VBD VBD
$ $ $
1.875 CD CD
a DT DT
share NN NN
Friday NNP NNP
, , ,
to TO TO
$ $ $
6.25 CD CD
, , ,
a DT DT
new JJ JJ
low JJ JJ
, , ,
in IN IN
over-the-counter JJ JJ
trading NN NN
. . .
<s>
Its PRP$ PRP$
high JJ NN
for IN IN
the DT DT
past JJ JJ
year NN NN
was VBD VBD
$ $ $
16.375 CD CD
a DT DT
share NN NN
. . .
<s>
In IN IN
the DT DT
previous JJ JJ
quarter NN NN
, , ,
the DT DT
company NN NN
earned VBD VBD
$ $ $
4.5 CD CD
million CD CD
, , ,
or CC CC
37 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
on IN IN
sales NNS NNS
of IN IN
$ $ $
47.2 CD CD
million CD CD
. . .
<s>
The DT DT
Bronx NNP NNP
has VBZ VBZ
a DT DT
wonderful JJ JJ
botanical JJ JJ
garden NN NN
, , ,
a DT DT
great JJ JJ
zoo NN NN
, , ,
its PRP$ PRP$
own JJ JJ
charming JJ JJ
Little NNP NNP
Italy NNP NNP
( ( (
on IN IN
Arthur NNP NNP
Avenue NNP NNP
) ) )
and CC CC
, , ,
of IN IN
course NN NN
, , ,
the DT DT
Yankees NNPS NNPS
. . .
<s>
However RB RB
, , ,
most JJS JJS
people NNS NNS
, , ,
having VBG VBG
been VBN VBN
subjected VBN VBN
to TO TO
news NN NN
footage NN NN
of IN IN
the DT DT
devastated VBN JJ
South NNP NNP
Bronx NNP NNP
, , ,
look NN VBP
at IN IN
the DT DT
borough NN NN
the DT DT
way NN NN
Tom NNP NNP
Wolfe NNP NNP
's POS POS
Sherman NNP NNP
McCoy NNP NNP
did VBD VBD
in IN IN
`` `` ``
Bonfire NNP NN
of IN IN
the DT DT
Vanities NNS NNS
'' '' ''
-- : :
as IN IN
a DT DT
wrong JJ JJ
turn NN NN
into IN IN
hell NN NN
. . .
<s>
But CC CC
Laura NNP NNP
Cunningham NNP NNP
's POS POS
Bronx NNP NNP
, , ,
her PRP$ PRP$
childhood NN NN
Bronx NNP NNP
of IN IN
the DT DT
'50s CD NNS
, , ,
is VBZ VBZ
something NN NN
else RB RB
altogether RB RB
. . .
<s>
In IN IN
a DT DT
lovely JJ JJ
, , ,
novelistic JJ JJ
memoir NN NN
, , ,
`` `` ``
Sleeping VBG NN
Arrangements : NNS
'' '' ''
( ( (
Knopf NNP NNP
, , ,
195 CD CD
pages NNS NNS
, , ,
$ $ $
18.95 CD CD
) ) )
, , ,
she PRP PRP
remembers VBZ VBZ
an DT DT
exotic JJ JJ
playground NN NN
, , ,
peopled VBD VBN
mainly RB RB
by IN IN
Jewish JJ JJ
eccentrics NNS NNS
and CC CC
the DT DT
occasional JJ JJ
Catholic NNP NNP
( ( (
real RB JJ
oddballs VBZ NNS
like IN IN
her PRP$ PRP$
sexpot NN NN
friend NN NN
, , ,
the DT DT
hell-kitten JJ NN
Diana NNP NNP
, , ,
age NN NN
five CD CD
) ) )
. . .
<s>
Ms. NNP NNP
Cunningham NNP NNP
, , ,
a DT DT
novelist NN NN
and CC CC
playwright NN NN
, , ,
has VBZ VBZ
a DT DT
vivid JJ JJ
and CC CC
dramatically RB RB
outsized JJ JJ
sense NN NN
of IN IN
recall NN NN
. . .
<s>
She PRP PRP
transforms VBZ VBZ
her PRP PRP
`` `` ``
Bronx NNP NNP
of IN IN
the DT DT
emotions NNS NNS
, , ,
a DT DT
place NN NN
where WRB WRB
the DT DT
flats NNS NNS
of IN IN
mediocrity NN NN
are VBP VBP
only RB RB
relieved VBN VBN
by IN IN
steep JJ JJ
descents NNS NNS
into IN IN
hysteria NN NN
'' '' ''
into IN IN
the DT DT
`` `` ``
Babylonian JJ NNP
Bronx NNP NNP
, , ,
'' '' ''
a DT DT
world NN NN
simmering VBG VBG
with IN IN
sex NN NN
and CC CC
death NN NN
and CC CC
intrigue : NN
. . .
<s>
In IN IN
the DT DT
Babylonian NNP NNP
Bronx NNP NNP
, , ,
Jewish JJ JJ
working-class JJ JJ
people NNS NNS
lived VBD VBD
in IN IN
drab JJ JJ
, , ,
Soviet-style JJ JJ
buildings NNS NNS
`` `` ``
glamorized VBN VBN
'' '' ''
with IN IN
names NNS NNS
like IN IN
AnaMor NNP NNP
Towers NNP NNP
( ( (
after IN IN
owners NNS NNS
Anna NNP NNP
and CC CC
Morris NNP NNP
Snezak NNP NNP
) ) )
, , ,
whose WP$ WP$
lobbies NNS NNS
and CC CC
hallways NNS NNS
were VBD VBD
decorated VBN VBN
with IN IN
murals NNS NNS
of IN IN
ancient JJ JJ
Syrians NNPS NNPS
and CC CC
Greeks NNPS NNPS
, , ,
friezes : NNS
of IN IN
Pompeii NNP NNP
. . .
<s>
For IN IN
Ms. NNP NNP
Cunningham NNP NNP
the DT DT
architectural JJ JJ
discombobulation NN NN
matched VBD VBD
the DT DT
discrepancy NN NN
she PRP PRP
felt VBD VBD
living VBG VBG
in IN IN
the DT DT
AnaMor NNP NNP
Towers NNP NNP
as IN IN
a DT DT
little JJ JJ
girl NN NN
: : :
`` `` ``
... : :
outwardly RB RB
ordinary JJ JJ
, , ,
inwardly RB RB
ornate : JJ
, , ,
owing VBG VBG
all DT DT
inspiration NN NN
to TO TO
heathen : JJ
cultures NNS NNS
. . .
<s>
'' '' ''
Sharp-witted JJ JJ
and CC CC
funny JJ JJ
but CC CC
never RB RB
mean VB JJ
, , ,
she PRP PRP
's VBZ VBZ
a DT DT
memorialist NN NN
a DT DT
bit NN NN
like IN IN
Truman NNP NNP
Capote NNP NNP
, , ,
if IN IN
he PRP PRP
'd MD MD
been VBN VBN
Jewish JJ JJ
and CC CC
female JJ JJ
and CC CC
less RBR RBR
bitchy JJ JJ
. . .
<s>
Little NNP NNP
Lily NNP NNP
, , ,
as IN IN
Ms. NNP NNP
Cunningham NNP NNP
calls VBZ VBZ
herself PRP PRP
in IN IN
the DT DT
book NN NN
, , ,
really RB RB
was VBD VBD
n't RB RB
ordinary JJ JJ
. . .
<s>
She PRP PRP
was VBD VBD
raised VBN VBN
, , ,
for IN IN
the DT DT
first JJ JJ
eight CD CD
years NNS NNS
, , ,
by IN IN
her PRP$ PRP$
mother NN NN
, , ,
Rosie NNP NNP
, , ,
whom WP WP
she PRP PRP
remembers VBZ VBZ
as IN IN
a DT DT
loving JJ JJ
liar NN NN
, , ,
who WP WP
realigned VBD VBD
history NN NN
to TO TO
explain VB VB
why WRB WRB
Lily NNP NNP
's POS POS
father NN NN
did VBD VBD
n't RB RB
live VB VB
with IN IN
them PRP PRP
. . .
<s>
Rosie NNP NNP
reinvented VBD VBD
this DT DT
man NN NN
, , ,
who WP WP
may MD MD
or CC CC
may MD MD
not RB RB
have VB VB
known VBN VBN
about IN IN
his PRP$ PRP$
child NN NN
, , ,
as IN IN
a DT DT
war NN NN
hero NN NN
for IN IN
Lily NNP NNP
's POS POS
benefit NN NN
. . .
<s>
Rosie NNP NN
died VBD VBD
young JJ JJ
and CC CC
Lily NNP NNP
has VBZ VBZ
remembered VBN VBN
her PRP PRP
as IN IN
a DT DT
romantic JJ JJ
figure NN NN
, , ,
who WP WP
did VBD VBD
n't RB RB
interfere VB VB
much RB RB
with IN IN
her PRP$ PRP$
child NN NN
's POS POS
education NN NN
on IN IN
the DT DT
streets NNS NNS
. . .
<s>
The DT DT
games NNS NNS
Bronx NNP NNP
children NNS NNS
played VBD VBD
( ( (
holding VBG VBG
kids NNS NNS
down RB RP
and CC CC
stripping VBG VBG
them PRP PRP
, , ,
for IN IN
example NN NN
) ) )
seem VBP VB
tame JJ JJ
by IN IN
today NN NN
's POS POS
crack NN NN
standards NNS NNS
, , ,
but CC CC
Ms. NNP NNP
Cunningham NNP NNP
makes VBZ VBZ
it PRP PRP
all DT DT
sound VBP VB
like IN IN
a DT DT
great JJ JJ
adventure NN NN
. . .
<s>
`` `` ``
Without IN IN
official JJ JJ
knowledge NN NN
of IN IN
sex NN NN
or CC CC
death NN NN
, , ,
we PRP PRP
flirted VBN VBD
with IN IN
both DT DT
, , ,
'' '' ''
she PRP PRP
writes VBZ VBZ
. . .
<s>
She PRP PRP
analyzed VBD VBD
families NNS NNS
by IN IN
their PRP$ PRP$
sleeping VBG NN
arrangements NNS NNS
. . .
<s>
Her PRP$ PRP$
friend NN NN
Susan NNP NNP
, , ,
whose WP$ WP$
parents NNS NNS
kept VBD VBD
reminding VBG VBG
her PRP$ PRP
she PRP PRP
was VBD VBD
unwanted JJ JJ
, , ,
slept VBD VBD
on IN IN
a DT DT
narrow JJ JJ
bed NN NN
wedged VBD VBN
into IN IN
her PRP$ PRP$
parents NNS NNS
' POS POS
bedroom NN NN
, , ,
as IN IN
though IN IN
she PRP PRP
were VBD VBD
a DT DT
temporary JJ JJ
visitor NN NN
. . .
<s>
Her PRP$ PRP$
friend NN NN
Diana NNP NNP
's POS POS
father NN NN
was VBD VBD
a DT DT
professional JJ JJ
thief NN NN
; : :
they PRP PRP
did VBD VBD
n't RB RB
seem VB VB
to TO TO
have VB VB
any DT DT
bedrooms NNS NNS
at IN IN
all DT DT
. . .
<s>
Maybe RB RB
Lily NNP NNP
became VBD VBD
so RB RB
obsessed VBN JJ
with IN IN
where WRB WRB
people NNS NNS
slept VBD VBD
and CC CC
how WRB WRB
because IN IN
her PRP$ PRP$
own JJ JJ
arrangements NNS NNS
kept VBD VBD
shifting VBG VBG
. . .
<s>
When WRB WRB
Rosie NNP NNP
died VBD VBD
, , ,
her PRP$ PRP$
uncles NNS NNS
moved VBN VBD
in IN RP
-- : :
and CC CC
let VB VB
her PRP$ PRP
make VB VB
the DT DT
sleeping NN NN
and CC CC
other JJ JJ
household NN NN
arrangements NNS NNS
. . .
<s>
They PRP PRP
painted VBD VBD
the DT DT
apartment NN NN
orange NN JJ
, , ,
pink JJ JJ
and CC CC
white JJ JJ
, , ,
according VBG VBG
to TO TO
her PRP$ PRP$
instructions NNS NNS
. . .
<s>
With IN IN
loving JJ JJ
detail NN NN
she PRP PRP
recalls VBZ VBZ
her PRP PRP$
Uncle NNP NNP
Gabe NNP NNP
, , ,
an DT DT
Orthodox NNP NNP
Jew NNP NNP
and CC CC
song NN NN
lyricist NN NN
( ( (
who WP WP
rhymed VBD VBD
river NN NN
with IN IN
liver NN NN
in IN IN
a DT DT
love NN NN
song NN NN
) ) )
; : :
and CC CC
Uncle NNP NNP
Len NNP NNP
, , ,
a DT DT
mysterious JJ JJ
part-time JJ JJ
investigator NN NN
who WP WP
looked VBD VBD
like IN IN
Lincoln NNP NNP
and CC CC
carried VBD VBD
a DT DT
change NN NN
of IN IN
clothing NN NN
in IN IN
a DT DT
Manila NNP NNP
envelope NN NN
, , ,
like IN IN
an DT DT
`` `` ``
undercover JJ JJ
President NN NN
on IN IN
a DT DT
good-will NN JJ
mission NN NN
. . .
<s>
'' '' ''
They PRP PRP
came VBD VBD
by IN IN
their PRP$ PRP$
strangeness NN NN
honestly RB RB
. . .
<s>
Lily NNP NNP
's POS POS
grandmother NN NN
, , ,
no DT DT
cookie NN NN
baker NN NN
, , ,
excised VBD VBD
the DT DT
heads NNS NNS
of IN IN
disliked JJ JJ
relatives NNS NNS
from IN IN
the DT DT
family NN NN
album NN NN
, , ,
and CC CC
lugged VBD VBD
around IN RP
her PRP$ PRP$
perennial JJ JJ
work-in-progress NN NN
, , ,
`` `` ``
Philosophy NN NN
for IN IN
Women NNP NNS
. . .
<s>
'' '' ''
The DT DT
book NN NN
loses VBZ VBZ
some DT DT
momentum NN NN
toward IN IN
the DT DT
end NN NN
, , ,
when WRB WRB
Lily NNP NNP
becomes VBZ VBZ
more RBR RBR
preoccupied VBN JJ
with IN IN
dating VBG VBG
boys NNS NNS
and CC CC
less JJR RBR
with IN IN
her PRP PRP
delightfully RB RB
weird JJ JJ
family NN NN
. . .
<s>
For IN IN
the DT DT
most JJS JJS
part NN NN
, , ,
though RB RB
, , ,
there EX EX
's VBZ POS
much JJ JJ
pleasure NN NN
in IN IN
her PRP$ PRP$
saucy NN JJ
, , ,
poignant JJ JJ
probe NN NN
into IN IN
the DT DT
mysteries NNS NNS
of IN IN
the DT DT
Babylonian NNP NNP
Bronx NNP NNP
. . .
<s>
The DT DT
Bronx NNP NNP
also RB RB
figures VBZ VBZ
in IN IN
Bruce NNP NNP
Jay NNP NNP
Friedman NNP NNP
's POS POS
latest JJS JJS
novel NN NN
, , ,
which WDT WDT
flashes VBZ VBZ
back RB RB
to TO TO
the DT DT
New NNP NNP
York NNP NNP
of IN IN
the DT DT
'50s CD NNS
. . .
<s>
But CC CC
both DT DT
the DT DT
past NN NN
and CC CC
present JJ JJ
worlds NNS NNS
of IN IN
`` `` ``
The DT DT
Current JJ JJ
Climate NN NN
'' '' ''
( ( (
Atlantic NNP NNP
Monthly JJ NNP
Press NNP NNP
, , ,
200 CD CD
pages NNS NNS
, , ,
$ $ $
18.95 CD CD
) ) )
feel NN VBP
cramped VBD JJ
and CC CC
static JJ JJ
. . .
<s>
For IN IN
his PRP$ PRP$
sixth JJ JJ
novel NN NN
, , ,
Mr. NNP NNP
Friedman NNP NNP
tried VBD VBD
to TO TO
resuscitate VB VB
the DT DT
protagonist NN NN
of IN IN
his PRP$ PRP$
1972 CD CD
work NN NN
, , ,
`` `` ``
About IN IN
Harry NNP NNP
Towns NNP NNP
. . .
<s>
'' '' ''
Harry NNP NNP
is VBZ VBZ
now RB RB
a DT DT
57-year-old JJ JJ
writer NN NN
, , ,
whose WP$ WP$
continuing VBG VBG
flirtation NN NN
with IN IN
drugs NNS NNS
and CC CC
marginal JJ JJ
types NNS NNS
in IN IN
Hollywood NNP NNP
and CC CC
New NNP NNP
York NNP NNP
seems VBZ VBZ
quaintly RB RB
out-of-synch JJ JJ
. . .
<s>
Harry NNP NNP
fondly RB RB
remembers VBZ VBZ
the DT DT
`` `` ``
old JJ JJ
'' '' ''
days NNS NNS
of IN IN
the DT DT
early JJ JJ
'70s NNS NNS
, , ,
when WRB WRB
people NNS NNS
like IN IN
his PRP$ PRP$
friend NN NN
Travis NNP NNP
would MD MD
take VB VB
a DT DT
psychiatrist NN NN
on IN IN
a DT DT
date NN NN
to TO TO
analyze VB VB
what WP WP
Travis NNP NNP
was VBD VBD
doing VBG VBG
wrong JJ JJ
. . .
<s>
`` `` ``
An DT DT
L.A. NNP NNP
solution NN NN
, , ,
'' '' ''
explains VBZ VBZ
Mr. NNP NNP
Friedman NNP NNP
. . .
<s>
Line NN NN
by IN IN
line NN NN
Mr. NNP NNP
Friedman NNP NNP
's POS POS
weary JJ JJ
cynicism NN NN
can MD MD
be VB VB
amusing JJ JJ
, , ,
especially RB RB
when WRB WRB
he PRP PRP
's VBZ VBZ
riffing VBG VBG
on IN IN
the DT DT
Hollywood NNP NNP
social JJ JJ
scheme NN NN
-- : :
the DT DT
way NN NN
people NNS NNS
size VBP VBP
each DT DT
other JJ JJ
up RP RP
, , ,
immediately RB RB
canceling VBG VBG
the DT DT
desperate JJ JJ
ones NNS NNS
who WP WP
merely RB RB
almost RB RB
made VBD VBD
it PRP PRP
. . .
<s>
Harry NNP NNP
has VBZ VBZ
avoided VBN VBN
all PDT PDT
that DT DT
by IN IN
living VBG VBG
in IN IN
a DT DT
Long NNP NNP
Island NNP NNP
suburb NN NN
with IN IN
his PRP$ PRP$
wife NN NN
, , ,
who WP WP
's VBZ VBZ
so RB RB
addicted VBN JJ
to TO TO
soap NN NN
operas NNS NNS
and CC CC
mystery NN NN
novels NNS NNS
she PRP PRP
barely RB RB
seems VBZ VBZ
to TO TO
notice VB VB
when WRB WRB
her PRP$ PRP$
husband NN NN
disappears VBZ VBZ
for IN IN
drug-seeking : JJ
forays NNS NNS
into IN IN
Manhattan NNP NNP
. . .
<s>
But CC CC
it PRP PRP
does VBZ VBZ
n't RB RB
take VB VB
too RB RB
many JJ JJ
lines NNS NNS
to TO TO
figure VB VB
Harry NNP NNP
out RP RP
. . .
<s>
He PRP PRP
's VBZ VBZ
a DT DT
bore VBD NN
. . .
<s>
Gulf NNP NNP
Resources NNPS NNP
& CC CC
Chemical NNP NNP
Corp. NNP NNP
said VBD VBD
it PRP PRP
agreed VBD VBD
to TO TO
pay VB VB
$ $ $
1.5 CD CD
million CD CD
as IN IN
part NN NN
of IN IN
an DT DT
accord NN NN
with IN IN
the DT DT
Environmental NNP NNP
Protection NNP NNP
Agency NNP NNP
regarding VBG VBG
an DT DT
environmental JJ JJ
cleanup NN NN
of IN IN
a DT DT
defunct JJ JJ
smelter NN NN
the DT DT
company NN NN
formerly RB RB
operated VBN VBD
in IN IN
Idaho NNP NNP
. . .
<s>
In IN IN
1984 CD CD
the DT DT
EPA NNP NNP
notified VBD VBD
Gulf NNP NNP
Resources NNPS NNP
, , ,
which WDT WDT
was VBD VBD
a DT DT
part-owner NN NN
of IN IN
the DT DT
smelter NN NN
, , ,
that IN IN
it PRP PRP
was VBD VBD
potentially RB RB
liable JJ JJ
for IN IN
sharing VBG VBG
cleanup NN NN
costs NNS NNS
at IN IN
the DT DT
site NN NN
under IN IN
the DT DT
federal JJ JJ
Superfund NNP NNP
program NN NN
. . .
<s>
The DT DT
21-square-mile JJ JJ
area NN NN
is VBZ VBZ
contaminated VBN JJ
with IN IN
lead NN NN
, , ,
zinc NN NN
and CC CC
other JJ JJ
metals NNS NNS
. . .
<s>
Gulf NNP NNP
Resources NNPS NNP
earlier RBR RBR
this DT DT
year NN NN
proposed VBD VBD
a DT DT
reorganization NN NN
plan NN NN
that WDT WDT
would MD MD
make VB VB
it PRP PRP
a DT DT
unit NN NN
of IN IN
a DT DT
Bermuda NNP NNP
concern NN NN
, , ,
potentially RB RB
exempting VBG VBG
it PRP PRP
from IN IN
liability NN NN
for IN IN
the DT DT
smelter NN NN
's POS POS
cleanup NN NN
costs NNS NNS
. . .
<s>
The DT DT
company NN NN
said VBD VBD
that IN IN
as IN IN
part NN NN
of IN IN
its PRP$ PRP$
agreement NN NN
with IN IN
the DT DT
EPA NNP NNP
, , ,
it PRP PRP
`` `` ``
made VBD VBD
certain JJ JJ
voluntary JJ JJ
undertakings NNS NNS
with IN IN
respect NN NN
to TO TO
intercorporate VB JJ
transactions NNS NNS
entered VBN VBN
into IN IN
after IN IN
the DT DT
reorganization NN NN
. . .
<s>
'' '' ''
The DT DT
company NN NN
, , ,
which WDT WDT
issued VBD VBD
a DT DT
statement NN NN
on IN IN
the DT DT
agreement NN NN
late JJ RB
Friday NNP NNP
, , ,
said VBD VBD
that IN IN
$ $ $
1 CD CD
million CD CD
of IN IN
the DT DT
payment NN NN
was VBD VBD
previously RB RB
provided VBN VBN
for IN IN
in IN IN
its PRP$ PRP$
financial JJ JJ
statements NNS NNS
and CC CC
that IN DT
$ $ $
500,000 CD CD
will MD MD
be VB VB
recognized VBN VBN
in IN IN
its PRP$ PRP$
1989 CD CD
third-quarter JJ JJ
statement NN NN
. . .
<s>
The DT DT
agreement NN NN
and CC CC
consent NN NN
decree NN NN
are VBP VBP
subject JJ JJ
to TO TO
court VB NN
approval NN NN
, , ,
the DT DT
company NN NN
said VBD VBD
. . .
<s>
Gulf NNP NNP
Resources NNP NNP
added VBD VBD
that IN IN
it PRP PRP
`` `` ``
will MD MD
seek VB VB
to TO TO
recover VB VB
equitable JJ JJ
contribution NN NN
from IN IN
others NNS NNS
for IN IN
both DT CC
the DT DT
amount NN NN
of IN IN
the DT DT
settlement NN NN
and CC CC
any DT DT
other JJ JJ
liabilities NNS NNS
it PRP PRP
may MD MD
incur VB VB
under IN IN
the DT DT
Superfund NNP NNP
law NN NN
. . .
<s>
'' '' ''
Under IN IN
the DT DT
agreement NN NN
, , ,
Gulf NNP NNP
must MD MD
give VB VB
the DT DT
U.S. NNP NNP
government NN NN
45 CD CD
days NNS NNS
' POS POS
advance NN JJ
written VBN JJ
notice NN NN
before IN IN
issuing VBG VBG
any DT DT
dividends NNS NNS
on IN IN
common JJ JJ
stock NN NN
. . .
<s>
The DT DT
company NN NN
's POS POS
net JJ JJ
worth NN NN
can MD MD
not RB RB
fall VB VB
below IN IN
$ $ $
185 CD CD
million CD CD
after IN IN
the DT DT
dividends NNS NNS
are VBP VBP
issued VBN VBN
. . .
<s>
`` `` ``
The DT DT
terms NNS NNS
of IN IN
that DT DT
agreement NN NN
only RB RB
become VBP VBP
effective JJ JJ
the DT DT
date NN NN
of IN IN
Gulf NNP NNP
's POS POS
reorganization NN NN
, , ,
which WDT WDT
we PRP PRP
anticipate VBP VBP
will MD MD
occur VB VB
sometime RB RB
in IN IN
early JJ JJ
1990 CD CD
, , ,
'' '' ''
said VBD VBD
Lawrence NNP NNP
R. NNP NNP
Mehl NNP NNP
, , ,
Gulf NNP NNP
's POS POS
general JJ JJ
counsel NN NN
. . .
<s>
In IN IN
addition NN NN
, , ,
Gulf NNP NNP
must MD MD
give VB VB
the DT DT
government NN NN
20 CD CD
days NNS NNS
' POS POS
advance NN JJ
written VBN JJ
notice NN NN
of IN IN
any DT DT
loans NNS NNS
exceeding VBG VBG
$ $ $
50 CD CD
million CD CD
that WDT WDT
are VBP VBP
made VBN VBN
to TO TO
the DT DT
Bermuda-based JJ JJ
holding VBG NN
company NN NN
. . .
<s>
Gulf NNP NNP
's POS POS
net JJ JJ
worth NN NN
after IN IN
those DT DT
transaction NN NN
must MD MD
be VB VB
at IN IN
least JJS JJS
$ $ $
150 CD CD
million CD CD
. . .
<s>
Separately RB RB
, , ,
the DT DT
company NN NN
said VBD VBD
it PRP PRP
expects VBZ VBZ
to TO TO
hold VB VB
a DT DT
special JJ JJ
meeting NN NN
for IN IN
shareholders NNS NNS
in IN IN
early JJ JJ
1990 CD CD
to TO TO
vote VB VB
on IN IN
its PRP$ PRP$
proposed VBN VBN
reorganization NN NN
. . .
<s>
Many JJ JJ
of IN IN
the DT DT
nation NN NN
's POS POS
highest-ranking JJ JJ
executives NNS NNS
saluted VBD VBD
Friday NNP NNP
's POS POS
market NN NN
plunge NN NN
as IN IN
an DT DT
overdue JJ JJ
comeuppance NN NN
for IN IN
speculators NNS NNS
and CC CC
takeover NN NN
players NNS NNS
. . .
<s>
Assuming VBG VBG
that IN IN
the DT DT
market NN NN
does VBZ VBZ
n't RB RB
head VB VB
into IN IN
a DT DT
bottomless JJ JJ
free JJ JJ
fall NN NN
, , ,
some DT DT
executives NNS NNS
think VBP VBP
Friday NNP NNP
's POS POS
action NN NN
could MD MD
prove VB VB
a DT DT
harbinger NN NN
of IN IN
good JJ JJ
news NN NN
-- : :
as IN IN
a DT DT
sign NN NN
that IN IN
the DT DT
leveraged JJ JJ
buy-out NN NN
and CC CC
takeover NN NN
frenzy NN NN
of IN IN
recent JJ JJ
years NNS NNS
may MD MD
be VB VB
abating VBG VBG
. . .
<s>
`` `` ``
This DT DT
is VBZ VBZ
a DT DT
reaction NN NN
to TO TO
artificial JJ JJ
LBO NNP NNP
valuations NNS NNS
, , ,
rather RB RB
than IN IN
to TO TO
any DT DT
fundamentals NNS NNS
, , ,
'' '' ''
said VBD VBD
John NNP NNP
Young NNP NNP
, , ,
chairman NN NN
of IN IN
Hewlett-Packard NNP NNP
Co. NNP NNP
, , ,
whose WP$ WP$
shares NNS NNS
dropped VBD VBD
$ $ $
3.125 CD CD
to TO TO
$ $ $
48.125 CD CD
. . .
<s>
`` `` ``
If IN IN
we PRP PRP
get VBP VBP
rid JJ JJ
of IN IN
a DT DT
lot NN NN
of IN IN
that DT DT
nonsense NN NN
, , ,
it PRP PRP
will MD MD
be VB VB
a DT DT
big JJ JJ
plus NN NN
. . .
<s>
'' '' ''
A DT DT
few JJ JJ
of IN IN
the DT DT
executives NNS NNS
here RB RB
for IN IN
the DT DT
fall NN NN
meeting NN NN
of IN IN
the DT DT
Business NNP NNP
Council NNP NNP
, , ,
a DT DT
group NN NN
that WDT WDT
meets VBZ VBZ
to TO TO
discuss VB VB
national JJ JJ
issues NNS NNS
, , ,
were VBD VBD
only RB RB
too RB RB
happy JJ JJ
to TO TO
personalize VB VB
their PRP$ PRP$
criticism NN NN
. . .
<s>
`` `` ``
People NNS NNS
wish VBP VBP
the DT DT
government NN NN
would MD MD
do VB VB
something NN NN
about IN IN
leveraged JJ JJ
buy-outs NNS NNS
, , ,
do VBP VB
something NN NN
about IN IN
takeovers NNS NNS
, , ,
do VBP VB
something NN NN
about IN IN
Donald NNP NNP
Trump NNP NNP
, , ,
'' '' ''
said VBD VBD
Rand NNP NNP
Araskog NNP NNP
, , ,
chairman NN NN
of IN IN
ITT NNP NNP
Corp. NNP NNP
, , ,
whose WP$ WP$
stock NN NN
dropped VBD VBD
$ $ $
3.375 CD CD
. . .
<s>
`` `` ``
Where WRB WRB
's VBZ VBZ
the DT DT
leadership NN NN
? . .
<s>
Where WRB WRB
's VBZ VBZ
the DT DT
guy NN NN
who WP WP
can MD MD
say VB VB
: : :
` `` ``
Enough NNP JJ
is VBZ VBZ
enough RB JJ
' '' ''
'' '' ''
? . .
<s>
The DT DT
executives NNS NNS
were VBD VBD
remarkably RB RB
unperturbed JJ JJ
by IN IN
the DT DT
plunge NN NN
even RB RB
though IN IN
it PRP PRP
lopped VBD VBD
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of IN IN
dollars NNS NNS
off IN IN
the DT DT
value NN NN
of IN IN
their PRP$ PRP$
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and CC CC
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`` `` ``
I PRP PRP
'm VBP VBP
not RB RB
going VBG VBG
to TO TO
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about IN IN
one CD CD
day NN NN
's POS POS
decline NN NN
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Kenneth NNP NNP
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Digital NNP NNP
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who WP WP
was VBD VBD
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strolling VBG VBG
through IN IN
the DT DT
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and CC CC
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leaves NNS NNS
of IN IN
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after IN IN
his PRP$ PRP$
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to TO TO
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at IN IN
$ $ $
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`` `` ``
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on IN RP
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'' '' ''
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in IN IN
the DT DT
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Smale NNP NNP
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whose WP$ WP$
Procter NNP NNP
& CC CC
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at IN IN
$ $ $
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fact NN NN
that IN IN
this DT DT
happened VBD VBD
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years NNS NNS
ago RB RB
and CC CC
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was VBD VBD
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to TO TO
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the DT DT
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of IN IN
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speculators NNS NNS
and CC CC
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artists NNS NNS
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who WP WP
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by IN IN
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's POS POS
events NNS NNS
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of IN IN
AMR NNP NNP
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parent NN NN
of IN IN
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Airlines NNPS NNP
and CC CC
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of IN IN
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by IN IN
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Asked VBN VBN
whether IN IN
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's POS POS
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could MD MD
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him PRP PRP
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being VBG VBG
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by IN IN
the DT DT
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and CC CC
said VBD VBD
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No DT DT
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's POS POS
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the DT DT
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leaders NNS NNS
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a DT DT
report NN NN
predicting VBG VBG
the DT DT
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would MD MD
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at IN IN
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% NN NN
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in IN IN
1991 CD CD
. . .
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19 CD CD
economists NNS NNS
who WP WP
worked VBD VBD
on IN IN
the DT DT
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Council NNP NNP
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, , ,
only RB RB
two CD CD
projected VBD VBD
periods NNS NNS
of IN IN
decline NN NN
in IN IN
the DT DT
nation NN NN
's POS POS
output NN NN
over IN IN
the DT DT
next JJ JJ
two CD CD
years NNS NNS
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and CC CC
in IN IN
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both DT DT
instances NNS NNS
the DT DT
declines NNS NNS
are VBP VBP
too RB RB
modest JJ JJ
to TO TO
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the DT DT
phrase NN NN
recession NN NN
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Lewis NNP NNP
Preston NNP NNP
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chairman NN NN
of IN IN
J.P. NNP NNP
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& CC CC
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and CC CC
vice NN NN
chairman NN NN
of IN IN
the DT DT
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. . .
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The DT DT
real JJ JJ
estate NN NN
slump NN NN
that WDT WDT
's VBZ VBZ
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down RP RP
the DT DT
price NN NN
of IN IN
New NNP NNP
York NNP NNP
office NN NN
space NN NN
and CC CC
housing NN NN
is VBZ VBZ
also RB RB
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once-desirable JJ JJ
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sites NNS NNS
sit VBP VBP
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and CC CC
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has VBZ VBZ
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brokers NNS NNS
say VBP VBP
tenants NNS NNS
are VBP VBP
reluctant JJ JJ
to TO TO
sign VB VB
leases NNS NNS
because IN IN
of IN IN
uncertainty NN NN
about IN IN
the DT DT
local JJ JJ
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turmoil NN NN
in IN IN
their PRP$ PRP$
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industries NNS NNS
and CC CC
a DT DT
belief NN NN
that WDT IN
rents VBZ NNS
have VBP VBP
not RB RB
yet RB RB
hit VBN VBN
bottom NN NN
. . .
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is VBZ VBZ
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of IN IN
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Faith NN NNP
Consolo NNP NNP
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senior JJ JJ
vice NN NN
president NN NN
at IN IN
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Associates NNP NNP
Store NNP NNP
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Inc NNP NNP
. . .
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are VBP VBP
about IN RB
2,000 CD CD
stores NNS NNS
for IN IN
rent NN NN
, , ,
up RB RB
from IN IN
a DT DT
more RBR RBR
typical JJ JJ
range NN NN
of IN IN
1,200 CD CD
to TO TO
1,500 CD CD
. . .
<s>
`` `` ``
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further JJ RB
confuses : VBZ
retailers NNS NNS
, , ,
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she PRP PRP
says VBZ VBZ
. . .
<s>
`` `` ``
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wonder VBP VBP
should MD MD
they PRP PRP
sign VB VB
a DT DT
lease NN NN
if IN IN
prices NNS NNS
are VBP VBP
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coming VBG VBG
down RP RB
? . .
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this DT DT
the DT DT
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time NN NN
to TO TO
open VB VB
a DT DT
store NN NN
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in IN IN
the DT DT
space NN NN
next JJ IN
door NN NN
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addition NN NN
, , ,
Ms. NNP NNP
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says VBZ VBZ
, , ,
tenants NNS NNS
usually RB RB
can MD MD
negotiate VB VB
to TO TO
pay VB VB
rents NNS NNS
that WDT WDT
are VBP VBP
about IN RB
one-quarter NN NN
lower JJR JJR
than IN IN
landlords NNS NNS
' POS POS
initial JJ JJ
asking VBG NN
price NN NN
. . .
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handful NN NN
of IN IN
hot JJ JJ
retail JJ JJ
locations NNS NNS
, , ,
such JJ JJ
as IN IN
the DT DT
57th JJ NNP
Street NNP NNP
and CC CC
Madison NNP NNP
and CC CC
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Avenue NNP NNP
areas NNS NNS
, , ,
have VBP VBP
been VBN VBN
able JJ JJ
to TO TO
sustain VB VB
what WP WP
many RB DT
see VBP VBP
as IN IN
astronomical JJ JJ
rents NNS NNS
. . .
<s>
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, , ,
in IN IN
some DT DT
neighborhoods NNS NNS
, , ,
rents NNS NNS
have VBP VBP
merely RB RB
hit VBN VBN
a DT DT
plateau NN NN
. . .
<s>
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on IN IN
average NN NN
, , ,
Manhattan NNP NNP
retail JJ JJ
rents NNS NNS
have VBP VBP
dropped VBN VBN
10 CD CD
% NN NN
to TO TO
15 CD CD
% NN NN
in IN IN
the DT DT
past JJ JJ
six CD CD
months NNS NNS
alone RB RB
, , ,
experts NNS NNS
say VBP VBP
. . .
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follows VBZ VBZ
a DT DT
more RBR RBR
subtle JJ JJ
decline NN NN
in IN IN
the DT DT
prior JJ JJ
six CD CD
months NNS NNS
, , ,
after IN IN
Manhattan NNP NNP
rents NNS NNS
had VBD VBD
run VBN VBN
up RP RP
rapidly RB RB
since IN IN
1986 CD CD
. . .
<s>
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same JJ JJ
factors NNS NNS
limiting VBG VBG
demand NN NN
for IN IN
office NN NN
space NN NN
have VBP VBP
affected VBN VBN
retailing NN NN
. . .
<s>
`` `` ``
As IN IN
businesses NNS NNS
contract NN VBP
or CC CC
depart VB VBP
, , ,
the DT DT
number NN NN
of IN IN
employees NNS NNS
who WP WP
might MD MD
use VB VB
retail JJ JJ
services NNS NNS
shrinks VBZ VBZ
, , ,
'' '' ''
says VBZ VBZ
Edward NNP NNP
A. NNP NN
Friedman NNP NNP
, , ,
senior JJ JJ
vice NN NN
president NN NN
of IN IN
Helmsley NNP NNP
Spear NNP NNP
Inc NNP NNP
. . .
<s>
He PRP PRP
says VBZ VBZ
financial JJ JJ
problems NNS NNS
plaguing VBG VBG
electronics NNS NNS
, , ,
fur NN NN
and CC CC
furniture NN NN
companies NNS NNS
-- : :
key JJ JJ
categories NNS NNS
in IN IN
the DT DT
local JJ JJ
retail JJ JJ
economy NN NN
-- : :
have VBP VBP
further JJ RB
deflated : VBN
the DT DT
market NN NN
. . .
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Hardest NNP JJS
hit NN NN
are VBP VBP
what WP WP
he PRP PRP
calls VBZ VBZ
`` `` ``
secondary JJ JJ
'' '' ''
sites NNS NNS
that WDT WDT
primarily RB RB
serve VBP VBP
neighborhood NN NN
residents NNS NNS
. . .
<s>
In IN IN
these DT DT
locations NNS NNS
, , ,
Mr. NNP NNP
Friedman NNP NNP
says VBZ VBZ
, , ,
`` `` ``
Retailers NNS NNS
are VBP VBP
increasingly RB RB
cautious JJ JJ
about IN RB
expanding VBG VBG
and CC CC
rents NNS NNS
have VBP VBP
remained VBN VBN
steady JJ RB
or CC CC
in IN IN
some DT DT
cases NNS NNS
have VBP VBP
declined VBN VBN
. . .
<s>
'' '' ''
Weakness NN NN
in IN IN
the DT DT
restaurant NN NN
industry NN NN
, , ,
which WDT WDT
is VBZ VBZ
leaving VBG VBG
retail JJ JJ
space NN NN
vacant JJ JJ
, , ,
exacerbates VBZ VBZ
the DT DT
problem NN NN
for IN IN
landlords NNS NNS
. . .
<s>
It PRP PRP
is VBZ VBZ
also RB RB
no DT DT
comfort NN NN
to TO TO
landlords NNS NNS
and CC CC
small JJ JJ
New NNP NNP
York NNP NNP
retailers NNS NNS
when WRB WRB
the DT DT
future NN NN
of IN IN
larger JJR JJR
department NN NN
stores NNS NNS
, , ,
which WDT WDT
anchor VB VBP
retail JJ JJ
neighborhoods NNS NNS
, , ,
are VBP VBP
in IN IN
doubt NN NN
. . .
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Hooker NNP NNP
Corp. NNP NNP
, , ,
parent NN NN
of IN IN
Bonwit NNP NNP
Teller NNP NNP
and CC CC
B. NNP NNP
Altman NNP NNP
's POS POS
, , ,
is VBZ VBZ
mired VBN VBN
in IN IN
bankruptcy NN NN
proceedings NNS NNS
and CC CC
Bloomingdale NNP NNP
's POS POS
is VBZ VBZ
for IN IN
sale NN NN
by IN IN
its PRP$ PRP$
owner NN NN
, , ,
Campeau NNP NNP
Corp NNP NNP
. . .
<s>
The DT DT
trend NN NN
toward IN IN
lower JJR JJR
rents NNS NNS
may MD MD
seem VB VB
surprising JJ JJ
given VBN VBN
that IN IN
some DT DT
communities NNS NNS
in IN IN
New NNP NNP
York NNP NNP
are VBP VBP
bemoaning VBG VBG
the DT DT
loss NN NN
of IN IN
favorite JJ JJ
local JJ JJ
businesses NNS NNS
to TO TO
high JJ JJ
rents NNS NNS
. . .
<s>
But CC CC
, , ,
despite IN IN
the DT DT
recent JJ JJ
softening NN NN
, , ,
for IN IN
many JJ DT
of IN IN
these DT DT
retailers NNS NNS
there EX EX
's VBZ VBZ
still RB RB
been VBN VBN
too RB RB
big JJ JJ
a DT DT
jump NN NN
from IN IN
the DT DT
rental JJ JJ
rates NNS NNS
of IN IN
the DT DT
late JJ JJ
1970s NNS NNS
, , ,
when WRB WRB
their PRP$ PRP$
leases NNS NNS
were VBD VBD
signed VBN VBN
. . .
<s>
Certainly RB RB
, , ,
the DT DT
recent JJ JJ
drop NN NN
in IN IN
prices NNS NNS
does VBZ VBZ
n't RB RB
mean VB VB
Manhattan NNP NNP
comes VBZ VBZ
cheap JJ JJ
. . .
<s>
New NNP NNP
York NNP NNP
retail JJ JJ
rents NNS NNS
still RB RB
run VBP VBP
well RB RB
above IN IN
the DT DT
going VBG JJ
rate NN NN
in IN IN
other JJ JJ
U.S. NNP NNP
cities NNS NNS
. . .
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Madison NNP NNP
and CC CC
Fifth NNP NNP
Avenues NNP NNP
and CC CC
East NNP NNP
57th NNP NNP
Street NNP NNP
can MD MD
command VB VB
rents NNS NNS
of IN IN
up IN RB
to TO TO
$ $ $
500 CD CD
a DT DT
square JJ JJ
foot NN NN
, , ,
and CC CC
$ $ $
250 CD CD
is VBZ VBZ
not RB RB
uncommon JJ JJ
. . .
<s>
The DT DT
thriving VBG VBG
34th JJ NNP
Street NNP NNP
area NN NN
offers VBZ VBZ
rents NNS NNS
of IN IN
about IN RB
$ $ $
100 CD CD
a DT DT
square JJ JJ
foot NN NN
, , ,
as IN IN
do VBP VB
up-and-coming JJ JJ
locations NNS NNS
along IN IN
lower JJR JJR
Fifth NNP NNP
Avenue NNP NNP
. . .
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By IN IN
contrast NN NN
, , ,
rentals NNS NNS
in IN IN
the DT DT
best JJS JJS
retail JJ JJ
locations NNS NNS
in IN IN
Boston NNP NNP
, , ,
San NNP NNP
Francisco NNP NNP
and CC CC
Chicago NNP NNP
rarely RB RB
top VBP VBP
$ $ $
100 CD CD
a DT DT
square JJ JJ
foot NN NN
. . .
<s>
And CC CC
rents NNS NNS
on IN IN
Beverly NNP NNP
Hills NNP NNP
' POS POS
Rodeo NNP NNP
Drive NNP NNP
generally RB RB
do VBP VBP
n't RB RB
exceed VB VB
about IN RB
$ $ $
125 CD CD
a DT DT
square JJ JJ
foot NN NN
. . .
<s>
The DT DT
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
said VBD VBD
two CD CD
securities NNS NNS
will MD MD
begin VB VB
trading VBG VBG
this DT DT
week NN NN
. . .
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Precision NNP NNP
Castparts NNP NNP
Corp. NNP NNP
, , ,
Portland NNP NNP
, , ,
Ore. NNP NNP
, , ,
will MD MD
begin VB VB
trading VBG VBG
with IN IN
the DT DT
symbol NN NN
PCP NNP NNP
. . .
<s>
It PRP PRP
makes VBZ VBZ
investment NN NN
castings NNS NNS
and CC CC
has VBZ VBZ
traded VBN VBN
over-the-counter NN RB
. . .
<s>
Royal NNP NNP
Bank NNP NNP
of IN IN
Scotland NNP NNP
Group NNP NNP
PLC NNP NNP
, , ,
an DT DT
Edinburgh NNP NNP
, , ,
Scotland NNP NNP
, , ,
financial JJ JJ
services NNS NNS
company NN NN
, , ,
will MD MD
list VB VB
American JJ JJ
depositary JJ JJ
shares NNS NNS
, , ,
representing VBG VBG
preferred JJ JJ
shares NNS NNS
, , ,
with IN IN
the DT DT
symbol NN NN
RBSPr NNP NNP
. . .
<s>
It PRP PRP
will MD MD
continue VB VB
to TO TO
trade VB VB
on IN IN
the DT DT
International NNP NNP
Stock NNP NNP
Exchange NNP NNP
, , ,
London NNP NNP
. . .
<s>
The DT DT
American NNP NNP
Stock NNP NNP
Exchange NNP NNP
listed VBD VBD
shares NNS NNS
of IN IN
two CD CD
companies NNS NNS
. . .
<s>
AIM NNP NNP
Telephones NNP NNP
Inc. NNP NNP
, , ,
a DT DT
Parsippany NNP NNP
, , ,
N.J. NNP NNP
, , ,
telecommunications NN NNS
equipment NN NN
supply NN NN
company NN NN
, , ,
started VBD VBD
trading VBG VBG
with IN IN
the DT DT
symbol NN NN
AIM NNP NNP
. . .
<s>
It PRP PRP
had VBD VBD
traded VBN VBN
over-the-counter JJ RB
. . .
<s>
Columbia NNP NNP
Laboratories NNPS NNP
Inc. NNP NNP
, , ,
Miami NNP NNP
, , ,
began VBD VBD
trading VBG VBG
with IN IN
the DT DT
symbol NN NN
COB : NNP
. . .
<s>
The DT DT
pharmaceuticals NNS NNS
maker NN NN
had VBD VBD
traded VBN VBN
over-the-counter JJ RB
. . .
<s>
The DT DT
National NNP NNP
Market NNP NNP
System NNP NNP
of IN IN
the DT DT
Nasdaq NNP NNP
over-the-counter JJ JJ
market NN NN
listed VBD VBD
shares NNS NNS
of IN IN
one CD CD
company NN NN
. . .
<s>
Employee NNP NNP
Benefit NNP NNP
Plans NNP NNP
Inc. NNP NNP
, , ,
a DT DT
Minneapolis NNP NNS
health-care NN NN
services NNS NNS
company NN NN
, , ,
was VBD VBD
listed VBN VBN
with IN IN
the DT DT
symbol NN NN
EBPI NNP NNP
. . .
<s>
When WRB WRB
Justice NNP NNP
William NNP NNP
Brennan NNP NNP
marks VBZ VBZ
the DT DT
start NN NN
of IN IN
his PRP$ PRP$
34th JJ JJ
year NN NN
on IN IN
the DT DT
Supreme NNP NNP
Court NNP NNP
today NN NN
, , ,
the DT DT
occasion NN NN
will MD MD
differ VB VB
sharply RB RB
from IN IN
previous JJ JJ
anniversaries NNS NNS
of IN IN
his PRP$ PRP$
tenure NN NN
. . .
<s>
For IN IN
the DT DT
first JJ JJ
time NN NN
, , ,
the DT DT
83-year-old JJ JJ
justice NN NN
finds VBZ VBZ
his PRP$ PRP$
influence NN NN
almost RB RB
exclusively RB RB
in IN IN
dissent NN NN
, , ,
rather RB RB
than IN IN
as IN IN
a DT DT
force NN NN
in IN IN
the DT DT
high JJ JJ
court NN NN
's POS POS
majority NN NN
. . .
<s>
This DT DT
role NN NN
reversal NN NN
holds VBZ VBZ
true JJ JJ
, , ,
as IN IN
well RB RB
, , ,
for IN IN
his PRP$ PRP$
three CD CD
liberal JJ JJ
and CC CC
moderate JJ JJ
allies NNS NNS
, , ,
Justices NNP NNP
Thurgood NNP NNP
Marshall NNP NNP
, , ,
Harry NNP NNP
Blackmun NNP NNP
and CC CC
John NNP NNP
Stevens NNP NNP
. . .
<s>
But CC CC
are VBP VBP
these DT DT
four CD CD
players NNS NNS
, , ,
three CD CD
of IN IN
them PRP PRP
in IN IN
their PRP$ PRP$
80s JJ NNS
, , ,
ready JJ JJ
to TO TO
assume VB VB
a DT DT
different JJ JJ
role NN NN
after IN IN
88 CD CD
years NNS NNS
, , ,
collectively RB RB
, , ,
of IN IN
service NN NN
on IN IN
the DT DT
high JJ JJ
court NN NN
? . .
<s>
Every DT DT
indication NN NN
is VBZ VBZ
that IN IN
the DT DT
four CD CD
are VBP VBP
prepared VBN JJ
to TO TO
accept VB VB
this DT DT
new JJ JJ
role NN NN
, , ,
and CC CC
the DT DT
frustrations NNS NNS
that WDT WDT
go VBP VBP
with IN IN
it PRP PRP
, , ,
but CC CC
in IN IN
different JJ JJ
ways NNS NNS
. . .
<s>
Justices NNS NNPS
Brennan NNP NNP
and CC CC
Stevens NNP NNP
appear VBP VBP
philosophical JJ JJ
about IN IN
it PRP PRP
; : :
Justices NNP NNPS
Marshall NNP NNP
and CC CC
Blackmun NNP NNP
appear VBP VBP
fighting VBG NN
mad JJ JJ
. . .
<s>
The DT DT
four CD CD
justices NNS NNS
are VBP VBP
no DT DT
newcomers NNS NNS
to TO TO
dissent NN NN
, , ,
often RB RB
joining VBG VBG
forces NNS NNS
in IN IN
the DT DT
past JJ JJ
decade NN NN
to TO TO
criticize VB VB
the DT DT
court NN NN
's POS POS
conservative JJ JJ
drift NN NN
. . .
<s>
But CC CC
always RB RB
, , ,
in IN IN
years NNS NNS
past RB JJ
, , ,
they PRP PRP
have VBP VBP
bucked VBD VBN
the DT DT
trend NN NN
and CC CC
have VBP VBP
been VBN VBP
able JJ JJ
to TO TO
pick VB VB
up RP RP
a DT DT
fifth JJ JJ
vote NN NN
to TO TO
eke VB VB
out RP RP
a DT DT
number NN NN
of IN IN
major JJ JJ
victories NNS NNS
in IN IN
civil JJ JJ
rights NNS NNS
and CC CC
liberties NNS NNS
cases NNS NNS
. . .
<s>
Now RB RB
, , ,
however RB RB
, , ,
as IN IN
the DT DT
court NN NN
's POS POS
new JJ JJ
five-member JJ JJ
conservative JJ JJ
majority NN NN
continues VBZ VBZ
to TO TO
solidify VB VB
, , ,
victories NNS NNS
for IN IN
the DT DT
liberals NNS NNS
are VBP VBP
rare JJ JJ
. . .
<s>
The DT DT
change NN NN
is VBZ VBZ
most RBS RBS
dramatic JJ JJ
for IN IN
Justice NNP NNP
Brennan NNP NNP
, , ,
the DT DT
last JJ JJ
survivor NN NN
of IN IN
the DT DT
mid-1960s : NNS
liberal JJ JJ
majority NN NN
under IN IN
Chief NNP NNP
Justice NNP NNP
Earl NNP NNP
Warren NNP NNP
. . .
<s>
In IN IN
the DT DT
seven CD CD
Supreme NNP NNP
Court NNP NNP
terms NNS NNS
from IN IN
the DT DT
fall NN NN
of IN IN
1962 CD CD
through IN IN
the DT DT
spring NN NN
of IN IN
1967 CD CD
, , ,
the DT DT
height NN NN
of IN IN
the DT DT
Warren NNP NNP
Court NNP NNP
's POS POS
power NN NN
, , ,
Justice NNP NNP
Brennan NNP NNP
cast VBD VBD
only RB RB
25 CD CD
dissenting : JJ
votes NNS NNS
in IN IN
555 CD CD
cases NNS NNS
decided VBN VBN
by IN IN
the DT DT
court NN NN
. . .
<s>
Last JJ JJ
term NN NN
alone RB RB
he PRP PRP
cast VBD VBD
52 CD CD
dissenting VBG JJ
votes NNS NNS
in IN IN
133 CD CD
decisions NNS NNS
, , ,
with IN IN
the DT DT
contentious JJ JJ
flag-burning NN NN
ruling NN NN
as IN IN
his PRP$ PRP$
only RB JJ
big JJ JJ
victory NN NN
. . .
<s>
But CC CC
Justice NNP NNP
Brennan NNP NNP
foresaw VBD VBD
his PRP$ PRP$
new JJ JJ
role NN NN
, , ,
strongly RB RB
defending VBG VBG
the DT DT
importance NN NN
of IN IN
dissents NNS NNS
in IN IN
a DT DT
1985 CD CD
speech NN NN
. . .
<s>
`` `` ``
Each DT DT
time NN NN
the DT DT
court NN NN
revisits VBZ VBZ
an DT DT
issue NN NN
, , ,
the DT DT
justices NNS NNS
will MD MD
be VB VB
forced VBN VBN
by IN IN
a DT DT
dissent NN NN
to TO TO
reconsider VB VB
the DT DT
fundamental JJ JJ
questions NNS NNS
and CC CC
to TO TO
rethink VB VB
the DT DT
result NN NN
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
Moreover RB RB
, , ,
in IN IN
recent JJ JJ
months NNS NNS
he PRP PRP
has VBZ VBZ
said VBN VBD
that IN IN
when WRB WRB
he PRP PRP
was VBD VBD
on IN IN
the DT DT
winning VBG VBG
side NN NN
in IN IN
the DT DT
1960s NNS NNS
, , ,
he PRP PRP
knew VBD VBD
that IN IN
the DT DT
tables NNS NNS
might MD MD
turn VB VB
in IN IN
the DT DT
future NN NN
. . .
<s>
He PRP PRP
has VBZ VBZ
said VBN VBD
that IN IN
he PRP PRP
now RB RB
knows VBZ VBZ
how WRB WRB
Justice NNP NNP
John NNP NNP
Harlan NNP NNP
felt VBD VBD
, , ,
a DT DT
reference NN NN
to TO TO
the DT DT
late JJ JJ
conservative JJ JJ
justice NN NN
who WP WP
was VBD VBD
the DT DT
most RBS RBS
frequent JJ JJ
dissenter NN NN
from IN IN
the DT DT
Warren NNP NNP
Court NNP NNP
's POS POS
opinions NNS NNS
. . .
<s>
Associates NNS NNS
of IN IN
81-year-old JJ JJ
Justice NNP NNP
Marshall NNP NNP
say VBP VB
he PRP PRP
was VBD VBD
`` `` ``
depressed JJ JJ
'' '' ''
about IN IN
the DT DT
court NN NN
's POS POS
direction NN NN
last JJ JJ
spring NN NN
, , ,
but CC CC
is VBZ VBZ
feisty JJ JJ
about IN IN
his PRP$ PRP$
role NN NN
and CC CC
determined VBD JJ
to TO TO
speak VB VB
out RP RP
against IN IN
the DT DT
court NN NN
's POS POS
cutbacks NNS NNS
in IN IN
civil JJ JJ
rights NNS NNS
. . .
<s>
`` `` ``
We PRP PRP
could MD MD
sweep NN VB
it PRP PRP
under IN IN
the DT DT
rug NN NN
and CC CC
hide VB VB
it PRP PRP
, , ,
but CC CC
I PRP PRP
'm VBP VBP
not RB RB
going VBG VBG
to TO TO
do VB VB
it PRP PRP
, , ,
'' '' ''
he PRP PRP
said VBD VBD
in IN IN
a DT DT
speech NN NN
last JJ JJ
month NN NN
. . .
<s>
He PRP PRP
, , ,
like IN IN
Justice NNP NNP
Brennan NNP NNP
, , ,
considers VBZ VBZ
dissents NNS NNS
highly RB RB
important JJ JJ
for IN IN
the DT DT
future NN NN
, , ,
a DT DT
point NN NN
that WDT DT
has VBZ VBZ
n't RB RB
escaped VBN VBN
legal JJ JJ
scholars NNS NNS
. . .
<s>
Harvard NNP NNP
Law NNP NNP
School NNP NNP
Professor NNP NNP
Laurence NNP NNP
Tribe NNP NNP
says VBZ VBZ
there EX EX
is VBZ VBZ
a DT DT
`` `` ``
generation-skipping : JJ
'' '' ''
flavor NN NN
to TO TO
current JJ JJ
dissents NNS NNS
. . .
<s>
The DT DT
dissenters NNS NNS
in IN IN
the DT DT
Warren NNP NNP
Court NNP NNP
, , ,
he PRP PRP
says VBZ VBZ
, , ,
appeared VBD VBD
to TO TO
be VB VB
writing VBG VBG
for IN IN
the DT DT
short-term NN NN
, , ,
suggesting VBG VBG
that IN IN
the DT DT
court NN NN
's POS POS
direction NN NN
might MD MD
change VB VB
soon RB RB
. . .
<s>
`` `` ``
Brennan NNP NNP
and CC CC
Marshall NNP NNP
are VBP VBP
speaking VBG VBG
in IN IN
their PRP$ PRP$
dissents NNS NNS
to TO TO
a DT DT
more RBR RBR
distant JJ JJ
future NN NN
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
Justice NN NNP
Blackmun : NNP
, , ,
who WP WP
will MD MD
turn VB VB
81 CD CD
next JJ JJ
month NN NN
, , ,
also RB RB
seems VBZ VBZ
feisty JJ JJ
about IN IN
his PRP$ PRP$
new JJ JJ
role NN NN
. . .
<s>
Associates NNS NNS
say VBP VBP
he PRP PRP
takes VBZ VBZ
some DT DT
defeats VBZ NNS
more RBR RBR
personally RB RB
than IN IN
his PRP$ PRP$
colleagues NNS NNS
, , ,
especially RB RB
attempts VBZ NNS
to TO TO
curtail VB VB
the DT DT
right NN NN
to TO TO
abortion NN NN
first RB RB
recognized VBN VBN
in IN IN
his PRP$ PRP$
1973 CD CD
opinion NN NN
, , ,
Roe NNP NNP
vs. FW IN
Wade NNP NNP
. . .
<s>
Friends NNS NNS
and CC CC
associates NNS NNS
who WP WP
saw VBD VBD
Justice NNP NNP
Blackmun NNP NNP
during IN IN
the DT DT
summer NN NN
said VBD VBD
he PRP PRP
was VBD VBD
no DT DT
more JJR RBR
discouraged VBN JJ
about IN IN
the DT DT
court NN NN
than IN IN
in IN IN
recent JJ JJ
years NNS NNS
. . .
<s>
And CC CC
his PRP$ PRP$
outlook NN NN
improved VBN VBD
after IN IN
successful JJ JJ
cataract NN NN
surgery NN NN
in IN IN
August NNP NNP
. . .
<s>
But CC CC
his PRP$ PRP$
level NN NN
of IN IN
frustration NN NN
showed VBN VBD
in IN IN
a DT DT
recent JJ JJ
, , ,
impassioned JJ JJ
speech NN NN
to TO TO
a DT DT
group NN NN
of IN IN
hundreds NNS NNS
of IN IN
lawyers NNS NNS
in IN IN
Chicago NNP NNP
. . .
<s>
He PRP PRP
concluded VBD VBD
his PRP$ PRP$
remarks NNS NNS
by IN IN
quoting VBG VBG
, , ,
emotionally RB RB
and CC CC
at IN IN
some DT DT
length NN NN
, , ,
according VBG VBG
to TO TO
those DT DT
present JJ JJ
, , ,
the DT DT
late JJ JJ
Martin NNP NNP
Luther NNP NNP
King NNP NNP
's POS POS
famous JJ JJ
`` `` ``
I PRP PRP
Have VBP VBP
a DT DT
Dream VB NN
'' '' ''
speech NN NN
from IN IN
the DT DT
1963 CD CD
March NNP NNP
on IN IN
Washington NNP NNP
. . .
<s>
Justice NNP NNP
Stevens NNP NNP
, , ,
69 CD CD
, , ,
is VBZ VBZ
probably RB RB
the DT DT
most RBS RBS
philosophical JJ JJ
of IN IN
the DT DT
dissenters NNS NNS
about IN IN
his PRP$ PRP$
role NN NN
, , ,
in IN IN
part NN NN
because IN IN
he PRP PRP
may MD MD
be VB VB
the DT DT
least JJS JJS
liberal NN NN
of IN IN
the DT DT
four CD CD
, , ,
but CC CC
also RB RB
because IN IN
he PRP PRP
enjoys VBZ VBZ
the DT DT
intellectual JJ JJ
challenge NN NN
of IN IN
arguing VBG VBG
with IN IN
the DT DT
majority NN NN
more JJR RBR
than IN IN
the DT DT
others NNS NNS
. . .
<s>
If IN IN
the DT DT
role NN NN
these DT DT
four CD CD
dissenters NNS NNS
are VBP VBP
assuming VBG VBG
is VBZ VBZ
a DT DT
familiar JJ JJ
one CD CD
in IN IN
modern JJ JJ
Supreme NNP NNP
Court NNP NNP
history NN NN
, , ,
it PRP PRP
also RB RB
differs VBZ VBZ
in IN IN
an DT DT
important JJ JJ
way NN NN
from IN IN
recent JJ JJ
history NN NN
, , ,
court NN NN
watchers NNS NNS
say VBP VBP
. . .
<s>
`` `` ``
The DT DT
dissenters NNS NNS
of IN IN
the DT DT
Warren NNP NNP
Court NNP NNP
were VBD VBD
often RB RB
defending VBG VBG
a DT DT
legal JJ JJ
legacy NN NN
that IN IN
they PRP PRP
inherited VBD VBD
, , ,
'' '' ''
says VBZ VBZ
Prof. NNP NNP
A.E. NNP NNP
Dick NNP NNP
Howard NNP NNP
of IN IN
the DT DT
University NNP NNP
of IN IN
Virginia NNP NNP
Law NNP NNP
School NNP NNP
, , ,
`` `` ``
but CC CC
the DT DT
dissenters NNS NNS
today NN NN
are VBP VBP
defending VBG VBG
a DT DT
legacy NN NN
that IN IN
they PRP PRP
created VBD VBD
. . .
<s>
The DT DT
government NN NN
sold VBD VBD
the DT DT
deposits NNS NNS
of IN IN
four CD CD
savings-and-loan JJ JJ
institutions NNS NNS
, , ,
in IN IN
its PRP$ PRP$
first JJ JJ
wave NN NN
of IN IN
sales NNS NNS
of IN IN
big JJ JJ
, , ,
sick JJ JJ
thrifts NNS NNS
, , ,
but CC CC
low JJ JJ
bids NNS NNS
prevented VBD VBD
the DT DT
sale NN NN
of IN IN
a DT DT
fifth NN JJ
. . .
<s>
The DT DT
four CD CD
S&Ls NNS NNS
were VBD VBD
sold VBN VBN
to TO TO
large JJ JJ
banks NNS NNS
, , ,
as IN IN
was VBD VBD
the DT DT
case NN NN
with IN IN
most JJS JJS
of IN IN
the DT DT
28 CD CD
previous JJ JJ
transactions NNS NNS
initiated VBN VBN
by IN IN
the DT DT
Resolution NNP NNP
Trust NNP NNP
Corp. NNP NNP
since IN IN
it PRP PRP
was VBD VBD
created VBN VBN
in IN IN
the DT DT
S&L NN NN
bailout NN NN
legislation NN NN
two CD CD
months NNS NNS
ago RB RB
. . .
<s>
Two CD CD
of IN IN
the DT DT
four CD CD
big JJ JJ
thrifts NNS NNS
were VBD VBD
sold VBN VBN
to TO TO
NCNB NNP NNP
Corp. NNP NNP
, , ,
Charlotte NNP NNP
, , ,
N.C. NNP NNP
, , ,
which WDT WDT
has VBZ VBZ
aggressively RB RB
expanded VBN VBN
its PRP$ PRP$
markets NNS NNS
, , ,
particularly RB RB
in IN IN
Texas NNP NNP
and CC CC
Florida NNP NNP
. . .
<s>
A DT DT
Canadian JJ JJ
bank NN NN
bought VBD VBD
another DT DT
thrift NN NN
, , ,
in IN IN
the DT DT
first JJ JJ
RTC NNP NNP
transaction NN NN
with IN IN
a DT DT
foreign JJ JJ
bank NN NN
. . .
<s>
Under IN IN
these DT DT
deals NNS NNS
, , ,
the DT DT
RTC NNP NNP
sells VBZ VBZ
just RB RB
the DT DT
deposits NNS NNS
and CC CC
the DT DT
healthy JJ JJ
assets NNS NNS
. . .
<s>
These DT DT
`` `` ``
clean-bank JJ JJ
'' '' ''
transactions NNS NNS
leave VBP VBP
the DT DT
bulk NN NN
of IN IN
bad JJ JJ
assets NNS NNS
, , ,
mostly RB RB
real JJ JJ
estate NN NN
, , ,
with IN IN
the DT DT
government NN NN
, , ,
to TO TO
be VB VB
sold VBN VBN
later RB RB
. . .
<s>
In IN IN
these DT DT
four CD CD
, , ,
for IN IN
instance NN NN
, , ,
the DT DT
RTC NNP NNP
is VBZ VBZ
stuck VBN VBN
with IN IN
$ $ $
4.51 CD CD
billion CD CD
in IN IN
bad JJ JJ
assets NNS NNS
. . .
<s>
Acquirers NNS NNS
paid VBD VBD
premiums NNS NNS
ranging VBG VBG
from IN IN
1.5 CD CD
% NN NN
to TO TO
3.7 CD CD
% NN NN
for IN IN
the DT DT
deposits NNS NNS
and CC CC
branch NN NN
systems NNS NNS
, , ,
roughly RB RB
in IN IN
line NN NN
with IN IN
what WP WP
analysts NNS NNS
were VBD VBD
expecting VBG VBG
. . .
<s>
The DT DT
buyers NNS NNS
will MD MD
also RB RB
be VB VB
locked VBN VBN
into IN IN
deposit NN NN
rates NNS NNS
for IN IN
just RB RB
two CD CD
weeks NNS NNS
, , ,
as IN IN
has VBZ VBZ
been VBN VBN
the DT DT
case NN NN
with IN IN
previous JJ JJ
deals NNS NNS
. . .
<s>
After IN IN
that DT DT
, , ,
the DT DT
buyers NNS NNS
may MD MD
repudiate VB VB
the DT DT
rates NNS NNS
paid VBN VBN
by IN IN
the DT DT
former JJ JJ
thrifts NNS NNS
. . .
<s>
But CC CC
it PRP PRP
's VBZ VBZ
uncertain JJ JJ
whether IN IN
these DT DT
institutions NNS NNS
will MD MD
take VB VB
those DT DT
steps NNS NNS
. . .
<s>
NCNB NNP NNP
, , ,
for IN IN
example NN NN
, , ,
has VBZ VBZ
been VBN VBN
one CD CD
of IN IN
the DT DT
highest JJS JJS
rate NN NN
payers NNS NNS
in IN IN
the DT DT
Texas NNP NNP
market NN NN
, , ,
and CC CC
in IN IN
Florida NNP NNP
, , ,
rates NNS NNS
are VBP VBP
especially RB RB
sensitive JJ JJ
in IN IN
retirement NN NN
communities NNS NNS
. . .
<s>
The DT DT
RTC NNP NNP
had VBD VBD
previously RB RB
targeted VBN VBN
five CD CD
thrifts NNS NNS
for IN IN
quick JJ JJ
sales NNS NNS
in IN IN
order NN NN
to TO TO
spend VB VB
cash NN NN
by IN IN
certain JJ JJ
budgetary JJ JJ
deadlines NNS NNS
, , ,
but CC CC
the DT DT
delays NNS NNS
illustrate VBP VBP
the DT DT
tough JJ JJ
chore NN NN
facing VBG VBG
the DT DT
agency NN NN
. . .
<s>
`` `` ``
These DT DT
thrifts NNS NNS
are VBP VBP
beached VBN JJ
whales NNS NNS
, , ,
'' '' ''
said VBD VBD
Bert NNP NNP
Ely NNP NNP
, , ,
an DT DT
industry NN NN
consultant NN NN
based VBN VBN
in IN IN
Alexandria NNP NNP
, , ,
Va NNP NNP
. . .
<s>
For IN IN
example NN NN
, , ,
the DT DT
delay NN NN
in IN IN
selling VBG VBG
People NNP NNP
's POS POS
Heritage NNP NNP
Savings NNP NNP
, , ,
Salina NNP NNP
, , ,
Kan. NNP NNP
, , ,
with IN IN
$ $ $
1.7 CD CD
billion CD CD
in IN IN
assets NNS NNS
, , ,
has VBZ VBZ
forced VBN VBN
the DT DT
RTC NNP NNP
to TO TO
consider VB VB
selling VBG VBG
off RP RP
the DT DT
thrift NN NN
branch-by-branch JJ RB
, , ,
instead RB RB
of IN IN
as IN IN
a DT DT
whole JJ JJ
institution NN NN
. . .
<s>
NCNB NNP NNP
continued VBD VBD
its PRP$ PRP$
foray NN NN
into IN IN
the DT DT
Florida NNP NNP
and CC CC
Texas NNP NNP
markets NNS NNS
. . .
<s>
NCNB NNP NNP
will MD MD
acquire VB VB
University NNP NNP
Federal NNP NNP
Savings NNP NNP
Association NNP NNP
, , ,
Houston NNP NNP
, , ,
which WDT WDT
had VBD VBD
assets NNS NNS
of IN IN
$ $ $
2.8 CD CD
billion CD CD
. . .
<s>
NCNB NNP NNP
Texas NNP NNP
National NNP NNP
Bank NNP NNP
will MD MD
pay VB VB
the DT DT
RTC NNP NNP
a DT DT
premium NN NN
of IN IN
$ $ $
129 CD CD
million CD CD
for IN IN
$ $ $
3.5 CD CD
billion CD CD
in IN IN
deposits NNS NNS
. . .
<s>
As IN IN
a DT DT
measure NN NN
of IN IN
the DT DT
depths NNS NNS
to TO TO
which WDT WDT
the DT DT
Texas NNP NNP
real JJ JJ
estate NN NN
market NN NN
has VBZ VBZ
sunk VBN VBN
, , ,
the DT DT
RTC NNP NNP
will MD MD
pay VB VB
$ $ $
3.8 CD CD
billion CD CD
to TO TO
NCNB NNP NNP
to TO TO
take VB VB
$ $ $
750 CD CD
million CD CD
of IN IN
bad JJ JJ
assets NNS NNS
. . .
<s>
NCNB NNP NNP
also RB RB
acquired VBD VBD
Freedom NNP NNP
Savings NNP NNP
& CC CC
Loan NNP NNP
Association NNP NNP
, , ,
Tampa NNP NNP
, , ,
Fla. NNP NNP
, , ,
which WDT WDT
had VBD VBD
total JJ JJ
assets NNS NNS
of IN IN
$ $ $
900 CD CD
million CD CD
. . .
<s>
NCNB NNP NNP
will MD MD
pay VB VB
the DT DT
RTC NNP NNP
a DT DT
premium NN NN
of IN IN
$ $ $
40.4 CD CD
million CD CD
for IN IN
$ $ $
1.1 CD CD
billion CD CD
in IN IN
deposits NNS NNS
. . .
<s>
NCNB NNP NNP
will MD MD
also RB RB
acquire VB VB
$ $ $
266 CD CD
million CD CD
of IN IN
Freedom NNP NNP
's POS POS
assets NNS NNS
from IN IN
the DT DT
RTC NNP NNP
, , ,
which WDT WDT
will MD MD
require VB VB
$ $ $
875 CD CD
million CD CD
in IN IN
assistance NN NN
. . .
<s>
Meridian NNP NNP
Bancorp NNP NNP
Inc. NNP NNP
, , ,
Reading VBG NN
, , ,
Pa. NNP NNP
, , ,
will MD MD
acquire VB VB
Hill NNP NNP
Financial NNP NNP
Savings NNP NNP
Association NNP NNP
, , ,
Red NNP NNP
Hill NNP NNP
, , ,
Pa. NNP NNP
, , ,
which WDT WDT
had VBD VBD
$ $ $
2.3 CD CD
billion CD CD
in IN IN
assets NNS NNS
. . .
<s>
Meridian NNP NNP
will MD MD
pay VB VB
a DT DT
premium NN NN
of IN IN
$ $ $
30.5 CD CD
million CD CD
to TO TO
assume VB VB
$ $ $
2 CD CD
billion CD CD
in IN IN
deposits NNS NNS
. . .
<s>
It PRP PRP
will MD MD
also RB RB
purchase VB VB
$ $ $
845 CD CD
million CD CD
of IN IN
the DT DT
thrift NN NN
's POS POS
assets NNS NNS
, , ,
with IN IN
$ $ $
1.9 CD CD
billion CD CD
in IN IN
RTC NNP NNP
assistance NN NN
. . .
<s>
In IN IN
the DT DT
first JJ JJ
RTC NNP NNP
transaction NN NN
with IN IN
a DT DT
foreign JJ JJ
buyer NN NN
, , ,
Royal NNP NNP
Trustco NNP NNP
Ltd. NNP NNP
, , ,
Toronto NNP NNP
, , ,
will MD MD
acquire VB VB
Pacific NNP NNP
Savings NNP NNP
Bank NNP NNP
, , ,
Costa NNP NNP
Mesa NNP NNP
, , ,
Calif. NNP NNP
, , ,
which WDT WDT
had VBD VBD
$ $ $
949 CD CD
million CD CD
in IN IN
assets NNS NNS
. . .
<s>
Royal NNP NNP
Trustco NNP NNP
will MD MD
pay VB VB
the DT DT
RTC NNP NNP
$ $ $
25 CD CD
million CD CD
to TO TO
assume VB VB
$ $ $
989 CD CD
million CD CD
in IN IN
deposits NNS NNS
. . .
<s>
It PRP PRP
will MD MD
also RB RB
purchase VB VB
$ $ $
473 CD CD
million CD CD
in IN IN
assets NNS NNS
, , ,
and CC CC
receive VB VB
$ $ $
550 CD CD
million CD CD
in IN IN
assistance NN NN
from IN IN
the DT DT
RTC NNP NNP
. . .
<s>
The DT DT
following VBG JJ
issues NNS NNS
were VBD VBD
recently RB RB
filed VBN VBN
with IN IN
the DT DT
Securities NNPS NNP
and CC CC
Exchange NNP NNP
Commission NNP NNP
: : :
American NNP NNP
Cyanamid NNP NNP
Co. NNP NNP
, , ,
offering NN NN
of IN IN
1,250,000 CD CD
common JJ JJ
shares NNS NNS
, , ,
via IN IN
Merrill NNP NNP
Lynch NNP NNP
Capital NNP NNP
Markets NNPS NNP
. . .
<s>
Limited NNP NNP
Inc. NNP NNP
, , ,
offering NN NN
of IN IN
up IN IN
to TO TO
$ $ $
300 CD CD
million CD CD
of IN IN
debt NN NN
securities NNS NNS
and CC CC
warrants NNS NNS
. . .
<s>
Nuveen NNP NNP
California NNP NNP
Performance NNP NNP
Plus NNP NNP
Municipal NNP NNP
Fund NNP NNP
Inc. NNP NNP
, , ,
initial JJ JJ
offering NN NN
of IN IN
five CD CD
million CD CD
common JJ JJ
shares NNS NNS
, , ,
via IN IN
Alex NNP NNP
. . .
<s>
Brown NNP NNP
& CC CC
Sons NNPS NNP
Inc. NNP NNP
, , ,
John NNP NNP
Nuveen NNP NNP
& CC CC
Co. NNP NNP
, , ,
Prudential-Bache NNP NNP
Capital NNP NNP
Funding NNP NNP
, , ,
and CC CC
Bateman NNP NNP
Eichler NNP NNP
, , ,
Hill NNP NNP
Richards NNP NNP
. . .
<s>
PacifiCare NNP NNP
Health NNP NNP
Systems NNPS NNP
Inc. NNP NNP
, , ,
proposed VBD VBN
offering NN NN
of IN IN
1.5 CD CD
million CD CD
common JJ JJ
shares NNS NNS
, , ,
of IN IN
which WDT WDT
700,000 CD CD
shares NNS NNS
will MD MD
be VB VB
offered VBN VBN
by IN IN
PacifiCare NNP NNP
and CC CC
800,000 CD CD
shares NNS NNS
by IN IN
UniHealth NNP NNP
America NNP NNP
Inc NNP NNP
. . .
<s>
( ( (
PacifiCare NNP NNP
's POS POS
71 CD CD
% NN NN
) ) )
, , ,
via IN IN
Dillon NNP NNP
, , ,
Read NNP NNP
& CC CC
Co. NNP NNP
Inc. NNP NNP
, , ,
Goldman NNP NNP
, , ,
Sachs NNP NNP
& CC CC
Co. NNP NNP
and CC CC
Dean NNP NNP
Witter NNP NNP
Reynolds NNP NNP
Inc NNP NNP
. . .
<s>
Pricor NNP NNP
Inc. NNP NNP
, , ,
offering NN NN
of IN IN
one CD CD
million CD CD
new JJ JJ
shares NNS NNS
of IN IN
common JJ JJ
stock NN NN
and CC CC
300,000 CD CD
shares NNS NNS
by IN IN
holders NNS NNS
, , ,
via IN IN
Drexel NNP NNP
Burnham NNP NNP
Lambert NNP NNP
Inc. NNP NNP
and CC CC
J.C. NNP NNP
Bradford NNP NNP
& CC CC
Co NNP NNP
. . .
<s>
Trans NNP NNP
World NNP NNP
Airlines NNPS NNP
Inc. NNP NNP
, , ,
offering NN NN
of IN IN
$ $ $
150 CD CD
million CD CD
senior JJ JJ
notes NNS NNS
, , ,
via IN IN
Drexel NNP NNP
Burnham NNP NNP
. . .
<s>
Time NNP NNP
magazine NN NN
, , ,
in IN IN
a DT DT
move NN NN
to TO TO
reduce VB VB
the DT DT
costs NNS NNS
of IN IN
wooing VBG VBG
new JJ JJ
subscribers NNS NNS
, , ,
is VBZ VBZ
lowering VBG VBG
its PRP$ PRP$
circulation NN NN
guarantee NN NN
to TO TO
advertisers NNS NNS
for IN IN
the DT DT
second JJ JJ
consecutive JJ JJ
year NN NN
, , ,
increasing VBG VBG
its PRP$ PRP$
subscription NN NN
rates NNS NNS
and CC CC
cutting VBG VBG
back RB RP
on IN IN
merchandise NN NN
giveaways NNS NNS
. . .
<s>
In IN IN
an DT DT
announcement NN NN
to TO TO
its PRP$ PRP$
staff NN NN
last JJ JJ
week NN NN
, , ,
executives NNS NNS
at IN IN
Time NNP NNP
Warner NNP NNP
Inc. NNP NNP
's POS POS
weekly JJ JJ
magazine NN NN
said VBD VBD
Time NNP NNP
will MD MD
`` `` ``
dramatically RB RB
de-emphasize JJ VB
'' '' ''
its PRP$ PRP$
use NN NN
of IN IN
electronic JJ JJ
giveaways NNS NNS
such JJ JJ
as IN IN
telephones NNS NNS
in IN IN
television NN NN
subscription NN NN
drives NNS NNS
; : :
cut VB VB
the DT DT
circulation NN NN
it PRP PRP
guarantees VBZ VBZ
advertisers NNS NNS
by IN IN
300,000 CD CD
, , ,
to TO TO
four CD CD
million CD CD
; : :
and CC CC
increase VB VB
the DT DT
cost NN NN
of IN IN
its PRP$ PRP$
annual JJ JJ
subscription NN NN
rate NN NN
by IN IN
about IN RB
$ $ $
4 CD CD
to TO TO
$ $ $
55 CD CD
. . .
<s>
In IN IN
a DT DT
related JJ JJ
development NN NN
, , ,
the DT DT
news-weekly : NN
, , ,
for IN IN
the DT DT
fourth JJ JJ
year NN NN
in IN IN
a DT DT
row NN NN
, , ,
said VBD VBD
it PRP PRP
wo MD MD
n't RB RB
increase VB VB
its PRP$ PRP$
advertising NN NN
rates NNS NNS
in IN IN
1990 CD CD
; : :
a DT DT
full JJ JJ
, , ,
four-color JJ JJ
page NN NN
in IN IN
the DT DT
magazine NN NN
costs VBZ VBZ
about IN RB
$ $ $
120,000 CD CD
. . .
<s>
However RB RB
, , ,
because IN IN
the DT DT
guaranteed VBN VBN
circulation NN NN
base NN NN
is VBZ VBZ
being VBG VBG
lowered VBN VBN
, , ,
ad NN NN
rates NNS NNS
will MD MD
be VB VB
effectively RB RB
7.5 CD CD
% NN NN
higher JJR JJR
per IN IN
subscriber NN NN
, , ,
according VBG VBG
to TO TO
Richard NNP NNP
Heinemann NNP NNP
, , ,
Time NNP NNP
associate JJ JJ
publisher NN NN
. . .
<s>
Time NNP NNP
is VBZ VBZ
following VBG VBG
the DT DT
course NN NN
of IN IN
some DT DT
other JJ JJ
mass-circulation JJ JJ
magazines NNS NNS
that IN IN
in IN IN
recent JJ JJ
years NNS NNS
have VBP VBP
challenged VBN VBN
the DT DT
publishing NN NN
myth NN NN
that IN IN
maintaining VBG VBG
artificially RB RB
high JJ JJ
, , ,
and CC CC
expensive JJ JJ
, , ,
circulations NNS NNS
is VBZ VBZ
the DT DT
way NN NN
to TO TO
draw VB VB
advertisers NNS NNS
. . .
<s>
In IN IN
recent JJ JJ
years NNS NNS
, , ,
Reader NNP NNP
's POS POS
Digest NNP NNP
, , ,
New NNP NNP
York NNP NNP
Times NNP NNP
Co. NNP NNP
's POS POS
McCall NNP NNP
's POS POS
, , ,
and CC CC
most RBS RBS
recently RB RB
News NNP NNP
Corp. NNP NNP
's POS POS
TV NN NNP
Guide NNP NNP
, , ,
have VBP VBP
cut VBN VBN
their PRP$ PRP$
massive JJ JJ
circulation NN NN
rate NN NN
bases NNS NNS
to TO TO
eliminate VB VB
marginal JJ JJ
circulation NN NN
and CC CC
hold VB VB
down RP RP
rates NNS NNS
for IN IN
advertisers NNS NNS
. . .
<s>
Deep JJ JJ
discounts NNS NNS
in IN IN
subscriptions NNS NNS
and CC CC
offers NNS NNS
of IN IN
free JJ JJ
clock NN NN
radios NNS NNS
and CC CC
watches NNS NNS
have VBP VBP
become VBN VBN
accepted JJ JJ
forms NNS NNS
of IN IN
attracting VBG VBG
new JJ JJ
subscribers NNS NNS
in IN IN
the DT DT
hyper-competitive JJ JJ
world NN NN
of IN IN
magazine NN NN
news-weeklies : NNS
. . .
<s>
But CC CC
Time NNP NNP
, , ,
as IN IN
part NN NN
of IN IN
the DT DT
more RBR RBR
cost-conscious JJ JJ
Time NNP NNP
Warner NNP NNP
, , ,
wants VBZ VBZ
to TO TO
wean VB VB
itself PRP PRP
away RB RB
from IN IN
expensive JJ JJ
gimmicks NNS NNS
. . .
<s>
Besides IN RB
, , ,
Time NNP NNP
executives NNS NNS
think VBP VBP
selling VBG VBG
a DT DT
news NN NN
magazine NN NN
with IN IN
a DT DT
clock NN NN
radio NN NN
is VBZ VBZ
tacky JJ JJ
. . .
<s>
`` `` ``
Giveaways : NNS
just RB RB
give VBP VBP
people NNS NNS
the DT DT
wrong JJ JJ
image NN NN
, , ,
'' '' ''
said VBD VBD
Mr. NNP NNP
Heinemann NNP NNP
. . .
<s>
`` `` ``
That DT DT
perception NN NN
takes VBZ VBZ
the DT DT
focus NN NN
off IN IN
the DT DT
magazine NN NN
. . .
<s>
'' '' ''
Time NNP NNP
magazine NN NN
executives NNS NNS
predictably RB RB
paint VBP VBP
the DT DT
circulation NN NN
cut NN NN
as IN IN
a DT DT
show NN NN
of IN IN
strength NN NN
and CC CC
actually RB RB
a DT DT
benefit NN NN
to TO TO
advertisers NNS NNS
. . .
<s>
`` `` ``
What WP WP
we PRP PRP
are VBP VBP
doing VBG VBG
is VBZ VBZ
screening VBG VBG
out RP RP
the DT DT
readers NNS NNS
who WP WP
are VBP VBP
only RB RB
casually RB RB
related VBN VBN
to TO TO
the DT DT
magazine NN NN
and CC CC
do VBP VBP
n't RB RB
really RB RB
read VB VB
it PRP PRP
, , ,
'' '' ''
said VBD VBD
Mr. NNP NNP
Heinemann NNP NNP
. . .
<s>
`` `` ``
We PRP PRP
are VBP VBP
trying VBG VBG
to TO TO
create VB VB
quality NN NN
and CC CC
involvement NN NN
. . .
<s>
'' '' ''
However RB RB
, , ,
Time NNP NNP
executives NNS NNS
used VBD VBD
the DT DT
same JJ JJ
explanation NN NN
when WRB WRB
in IN IN
October NNP NNP
1988 CD CD
the DT DT
magazine NN NN
cut VBD VBD
its PRP$ PRP$
guaranteed VBN VBN
circulation NN NN
from IN IN
4.6 CD CD
million CD CD
to TO TO
4.3 CD CD
million CD CD
. . .
<s>
And CC CC
Time NNP NNP
's POS POS
paid VBN JJ
circulation NN NN
, , ,
according VBG VBG
to TO TO
Audit NNP NNP
Bureau NNP NNP
of IN IN
Circulations NNP NNP
, , ,
dropped VBD VBD
7.3 CD CD
% NN NN
to TO TO
4,393,237 CD CD
in IN IN
the DT DT
six CD CD
months NNS NNS
ended VBN VBD
June NNP NNP
30 CD CD
, , ,
1989 CD CD
. . .
<s>
Still RB RB
, , ,
Time NNP NNP
's POS POS
move NN NN
is VBZ VBZ
being VBG VBG
received VBN VBN
well RB RB
, , ,
once RB RB
again RB RB
. . .
<s>
`` `` ``
It PRP PRP
's VBZ VBZ
terrific JJ JJ
for IN IN
advertisers NNS NNS
to TO TO
know VB VB
the DT DT
reader NN NN
will MD MD
be VB VB
paying VBG VBG
more JJR JJR
, , ,
'' '' ''
said VBD VBD
Michael NNP NNP
Drexler NNP NNP
, , ,
national JJ JJ
media NNS NNS
director NN NN
at IN IN
Bozell NNP NNP
Inc. NNP NNP
ad NN NN
agency NN NN
. . .
<s>
`` `` ``
A DT DT
few JJ JJ
drops NNS NNS
in IN IN
circulation NN NN
are VBP VBP
of IN IN
no DT DT
consequence NN NN
. . .
<s>
It PRP PRP
's VBZ VBZ
not RB RB
a DT DT
show NN NN
of IN IN
weakness NN NN
; : :
they PRP PRP
are VBP VBP
improving VBG VBG
the DT DT
quality NN NN
of IN IN
circulation NN NN
while IN IN
insuring VBG VBG
their PRP$ PRP$
profits NNS NNS
. . .
<s>
'' '' ''
Mr. NNP NNP
Heinemann NNP NNP
said VBD VBD
the DT DT
changes NNS NNS
represent VBP VBP
a DT DT
new JJ JJ
focus NN NN
in IN IN
the DT DT
magazine NN NN
industry NN NN
: : :
a DT DT
magazine NN NN
's POS POS
net JJ JJ
revenue NN NN
per IN IN
subscriber NN NN
, , ,
or CC CC
the DT DT
actual JJ JJ
revenue NN NN
from IN IN
subscribers NNS NNS
after IN IN
discounts NNS NNS
and CC CC
the DT DT
cost NN NN
of IN IN
premiums NNS NNS
have VBP VBP
been VBN VBN
stripped VBN VBN
away RB RP
. . .
<s>
`` `` ``
The DT DT
question NN NN
is VBZ VBZ
how WRB WRB
much JJ JJ
are VBP VBP
we PRP PRP
getting VBG VBG
from IN IN
each DT DT
reader NN NN
, , ,
'' '' ''
said VBD VBD
Mr. NNP NNP
Heinemann NNP NNP
. . .
<s>
Time NNP NNP
's POS POS
rivals NNS NNS
news-weeklies NNS NNS
, , ,
Washington NNP NNP
Post NNP NNP
Co. NNP NNP
's POS POS
Newsweek NNP NNP
and CC CC
U.S. NNP NNP
News NNP NNP
& CC CC
World NNP NNP
Report NNP NNP
, , ,
are VBP VBP
less RBR RBR
reliant JJ JJ
on IN IN
electronic JJ JJ
giveaways NNS NNS
, , ,
and CC CC
in IN IN
recent JJ JJ
years NNS NNS
both DT DT
have VBP VBP
been VBN VBN
increasing VBG VBG
their PRP$ PRP$
circulation NN NN
rate NN NN
bases NNS NNS
. . .
<s>
Both DT DT
magazines NNS NNS
are VBP VBP
expected VBN VBN
to TO TO
announce VB VB
their PRP$ PRP$
ad NN NN
rates NNS NNS
and CC CC
circulation NN NN
levels NNS NNS
for IN IN
1990 CD CD
within IN IN
a DT DT
month NN NN
. . .
<s>
When WRB WRB
the DT DT
news NN NN
broke VBD VBD
of IN IN
an DT DT
attempted VBN JJ
coup NN NN
in IN IN
Panama NNP NNP
two CD CD
weeks NNS NNS
ago RB RB
, , ,
Sen. NNP NNP
Christopher NNP NNP
Dodd NNP NNP
called VBD VBD
the DT DT
State NNP NNP
Department NNP NNP
for IN IN
a DT DT
briefing NN NN
. . .
<s>
`` `` ``
They PRP PRP
said VBD VBD
, , ,
` `` ``
follow VB VB
CNN NNP NNP
, , ,
' '' ''
'' '' ''
he PRP PRP
told VBD VBD
reporters NNS NNS
. . .
<s>
That DT DT
shows VBZ VBZ
how WRB WRB
far RB RB
Ted NNP NNP
Turner NNP NNP
's POS POS
Cable NNP NNP
News NNP NNP
Network NNP NNP
has VBZ VBZ
come VBN VBN
since IN IN
its PRP$ PRP$
birth NN NN
nine CD CD
years NNS NNS
ago RB RB
, , ,
when WRB WRB
it PRP PRP
was VBD VBD
considered VBN VBN
the DT DT
laughingstock NN NN
of IN IN
television NN NN
news NN NN
. . .
<s>
It PRP PRP
is VBZ VBZ
bigger JJR JJR
, , ,
faster JJR JJR
and CC CC
more RBR RBR
profitable JJ JJ
than IN IN
the DT DT
news NN NN
divisions NNS NNS
of IN IN
any DT DT
of IN IN
the DT DT
three CD CD
major JJ JJ
broadcast NN NN
networks NNS NNS
. . .
<s>
Its PRP$ PRP$
niche NN NN
as IN IN
the DT DT
`` `` ``
network NN NN
of IN IN
record NN NN
'' '' ''
during IN IN
major JJ JJ
crises NNS NNS
draws VBZ VBZ
elite JJ JJ
audiences NNS NNS
around IN IN
the DT DT
world NN NN
. . .
<s>
But CC CC
for IN IN
all DT PDT
its PRP$ PRP$
success NN NN
, , ,
CNN NNP NNP
has VBZ VBZ
hit VBN VBN
a DT DT
plateau NN NN
. . .
<s>
Although IN IN
viewership NN NN
soars : NNS
when WRB WRB
big JJ JJ
news NN NN
breaks NNS VBZ
, , ,
it PRP PRP
ebbs VBZ VBZ
during IN IN
periods NNS NNS
of IN IN
calm JJ NN
. . .
<s>
CNN NNP NNP
executives NNS NNS
worry VBP VBP
that IN IN
the DT DT
network NN NN
's POS POS
punchy JJ JJ
but CC CC
repetitive JJ JJ
news NN NN
format NN NN
may MD MD
be VB VB
getting VBG VBG
stale JJ JJ
and CC CC
wo MD MD
n't RB RB
keep VB VB
viewers NNS NNS
coming VBG VBG
back RB RB
as IN IN
the DT DT
alternatives NNS NNS
multiply VB VBP
for IN IN
news NN NN
and CC CC
information NN NN
on IN IN
cable-TV NN NN
. . .
<s>
`` `` ``
Just RB RB
the DT DT
fact NN NN
we PRP PRP
're VBP VBP
on IN IN
24 CD CD
hours NNS NNS
is VBZ VBZ
no RB DT
longer JJR RBR
bulletin NN NN
, , ,
'' '' ''
says VBZ VBZ
Ed NNP NNP
Turner NNP NNP
, , ,
CNN NNP NNP
's POS POS
executive JJ JJ
vice NN NN
president NN NN
, , ,
news NN NN
gathering NN NN
( ( (
and CC CC
no DT DT
relation NN NN
to TO TO
Ted NNP NNP
Turner NNP NNP
) ) )
. . .
<s>
`` `` ``
You PRP PRP
ca MD MD
n't RB RB
live VB VB
on IN IN
that DT DT
. . .
<s>
'' '' ''
So RB RB
CNN NNP NNP
, , ,
a DT DT
unit NN NN
of IN IN
Atlanta-based JJ JJ
Turner NNP NNP
Broadcasting NNP NNP
System NNP NNP
Inc. NNP NNP
, , ,
is VBZ VBZ
trying VBG VBG
to TO TO
reposition VB VB
itself PRP PRP
as IN IN
a DT DT
primary JJ JJ
channel NN NN
, , ,
or CC CC
what WP WP
people NNS NNS
in IN IN
the DT DT
television NN NN
industry NN NN
call NN VBP
a DT DT
`` `` ``
top NN NN
of IN IN
mind NN NN
'' '' ''
network NN NN
. . .
<s>
Tonight NNP RB
, , ,
to TO TO
kick VB VB
off RP RP
the DT DT
effort NN NN
, , ,
CNN NNP NNP
will MD MD
premiere VB VB
its PRP$ PRP$
first JJ JJ
prime-time NN NN
newscast NN NN
in IN IN
years NNS NNS
, , ,
an DT DT
hourlong : JJ
show NN NN
at IN IN
6 CD CD
p.m RB RB
. . .
<s>
Eastern JJ JJ
time NN NN
to TO TO
air VB VB
head-to-head NN RB
against IN IN
the DT DT
network NN NN
newscasts NNS NNS
. . .
<s>
The DT DT
show NN NN
will MD MD
be VB VB
co-anchored VBN VBN
by IN IN
Bernard NNP NNP
Shaw NNP NNP
and CC CC
Catherine NNP NNP
Crier NNP NNP
, , ,
a DT DT
34-year-old JJ JJ
former JJ JJ
Texas NNP NNP
judge NN NN
and CC CC
campus NN NN
beauty NN NN
queen NN NN
who WP WP
has VBZ VBZ
never RB RB
held VBN VBN
a DT DT
job NN NN
in IN IN
television NN NN
or CC CC
journalism NN NN
. . .
<s>
The DT DT
new JJ JJ
show NN NN
is VBZ VBZ
perhaps RB RB
the DT DT
boldest JJS JJS
in IN IN
a DT DT
number NN NN
of IN IN
steps NNS NNS
the DT DT
network NN NN
is VBZ VBZ
taking VBG VBG
to TO TO
build VB VB
audience NN NN
loyalty NN NN
by IN IN
shifting VBG VBG
away RB RB
from IN IN
its PRP$ PRP$
current JJ JJ
format NN NN
toward IN IN
more RBR JJR
full-length JJ JJ
`` `` ``
signature NN NN
'' '' ''
programming NN NN
with IN IN
recognizable JJ JJ
stars NNS NNS
. . .
<s>
To TO TO
distinguish VB VB
itself PRP PRP
, , ,
CNN NNP NNP
is VBZ VBZ
also RB RB
expanding VBG VBG
international JJ JJ
coverage NN NN
and CC CC
adding VBG VBG
a DT DT
second JJ JJ
global-news JJ NN
program NN NN
. . .
<s>
It PRP PRP
is VBZ VBZ
paying VBG VBG
higher JJR JJR
salaries NNS NNS
-- : :
after IN IN
years NNS NNS
of IN IN
scrimping VBG VBG
-- : :
to TO TO
lure VB VB
and CC CC
keep VB VB
experienced JJ JJ
staffers NNS NNS
. . .
<s>
And CC CC
it PRP PRP
is VBZ VBZ
embarking VBG VBG
on IN IN
an DT DT
expensive JJ JJ
gamble NN NN
to TO TO
break VB VB
major JJ JJ
stories NNS NNS
with IN IN
a DT DT
large JJ JJ
investigative-reporting JJ NN
team NN NN
. . .
<s>
`` `` ``
The DT DT
next JJ JJ
stage NN NN
is VBZ VBZ
to TO TO
get VB VB
beyond IN IN
the DT DT
opinion NN NN
leaders NNS NNS
who WP WP
use VBP VBP
us PRP PRP
as IN IN
a DT DT
point NN NN
of IN IN
reference NN NN
to TO TO
become VB VB
a DT DT
point NN NN
of IN IN
reference NN NN
at IN IN
ordinary JJ JJ
dinner NN NN
tables NNS NNS
, , ,
'' '' ''
says VBZ VBZ
Jon NNP NNP
Petrovich NNP NNP
, , ,
executive JJ JJ
vice NN NN
president NN NN
of IN IN
Headline NNP NNP
News NNP NNP
, , ,
CNN NNP NNP
's POS POS
sister JJ NN
network NN NN
. . .
<s>
But CC CC
that DT DT
wo MD MD
n't RB RB
be VB VB
easy JJ JJ
. . .
<s>
Networks NNP NNS
, , ,
like IN IN
other JJ JJ
consumer NN NN
products NNS NNS
, , ,
develop VBP VBP
images NNS NNS
in IN IN
peoples NNS NNS
' POS POS
minds NNS NNS
that WDT WDT
are VBP VBP
n't RB RB
easy JJ JJ
to TO TO
change VB VB
. . .
<s>
It PRP PRP
also RB RB
takes VBZ VBZ
money NN NN
that IN IN
CNN NNP NNP
has VBZ VBZ
been VBN VBN
reluctant JJ JJ
to TO TO
spend VB VB
to TO TO
make VB VB
programs NNS NNS
and CC CC
hire NN VB
talent NN NN
that IN IN
viewers NNS NNS
will MD MD
tune NN VB
in IN RP
specially RB RB
to TO TO
see VB VB
. . .
<s>
And CC CC
the DT DT
cable-TV NN NN
operators NNS NNS
-- : :
CNN NNP NNP
's POS POS
distributors NNS NNS
and CC CC
part NN JJ
owners NNS NNS
-- : :
like IN IN
things NNS NNS
just RB RB
the DT DT
way NN NN
they PRP PRP
are VBP VBP
. . .
<s>
The DT DT
repositioning NN NN
bid NN NN
is VBZ VBZ
aimed VBN VBN
at IN IN
CNN NNP NNP
's POS POS
unsteady JJ JJ
viewership NN NN
-- : :
and CC CC
what WP WP
may MD MD
happen VB VB
to TO TO
it PRP PRP
as IN IN
the DT DT
cable-TV NN NN
news NN NN
market NN NN
grows VBZ VBZ
more RBR RBR
competitive JJ JJ
. . .
<s>
Already RB RB
, , ,
CNN NNP NNP
is VBZ VBZ
facing VBG VBG
stronger JJR JJR
competition NN NN
from IN IN
Financial NNP NNP
News NNP NNP
Network NNP NNP
Inc. NNP NNP
and CC CC
General NNP NNP
Electric NNP NNP
Co. NNP NNP
's POS POS
Consumer NNP NNP
News NNP NNP
and CC CC
Business NNP NNP
Channel NNP NNP
, , ,
both DT DT
of IN IN
which WDT WDT
are VBP VBP
likely JJ JJ
to TO TO
pursue VB VB
more JJR JJR
general JJ JJ
news NN NN
in IN IN
the DT DT
future NN NN
. . .
<s>
In IN IN
addition NN NN
, , ,
many JJ JJ
cable-TV NN NN
systems NNS NNS
themselves PRP PRP
are VBP VBP
airing VBG VBG
more RBR JJR
local JJ JJ
and CC CC
regional JJ JJ
news NN NN
programs NNS NNS
produced VBN VBN
by IN IN
local JJ JJ
broadcast NN NN
stations NNS NNS
. . .
<s>
CNN NNP NNP
wants VBZ VBZ
to TO TO
change VB VB
its PRP$ PRP$
viewers NNS NNS
' POS POS
habits NNS NNS
. . .
<s>
Its PRP$ PRP$
watchers NNS NNS
are VBP VBP
, , ,
on IN IN
the DT DT
whole NN NN
, , ,
a DT DT
disloyal JJ JJ
group NN NN
of IN IN
channel-zapping JJ JJ
`` `` ``
grazers NNS NNS
'' '' ''
and CC CC
news NN NN
junkies NNS NNS
, , ,
who WP WP
spend VBP VBP
an DT DT
average NN NN
of IN IN
just RB RB
26 CD CD
minutes NNS NNS
a DT DT
day NN NN
watching VBG VBG
CNN NNP NNP
, , ,
according VBG VBG
to TO TO
audience NN NN
research NN NN
. . .
<s>
That DT DT
's VBZ VBZ
less JJR JJR
than IN IN
one-third RB NN
the DT DT
time NN NN
that IN IN
viewers NNS NNS
watch VBP VBP
the DT DT
major JJ JJ
broadcast NN NN
networks NNS NNS
. . .
<s>
The DT DT
brief JJ JJ
attention NN NN
viewers NNS NNS
give VBP VBP
CNN NNP NNP
could MD MD
put VB VB
it PRP PRP
at IN IN
a DT DT
disadvantage NN NN
as IN IN
ratings NNS NNS
data NNS NNS
, , ,
and CC CC
advertising NN NN
, , ,
become VBP VBN
more RBR RBR
important JJ JJ
to TO TO
cable-TV NN NN
channels NNS NNS
. . .
<s>
CNN NNP NNP
's POS POS
viewer NN NN
habits NNS NNS
have VBP VBP
been VBN VBN
molded VBN VBN
by IN IN
its PRP$ PRP$
format NN NN
. . .
<s>
Its PRP$ PRP$
strategy NN NN
in IN IN
the DT DT
past NN NN
has VBZ VBZ
been VBN VBN
to TO TO
serve VB VB
as IN IN
a DT DT
TV NN NN
wire NN NN
service NN NN
. . .
<s>
It PRP PRP
focused VBD VBD
on IN IN
building VBG NN
up RP RP
its PRP$ PRP$
news NN NN
bureaus NNS NN
around IN IN
the DT DT
world NN NN
, , ,
so RB RB
as IN IN
events NNS NNS
took VBD VBD
place NN NN
it PRP PRP
could MD MD
go VB VB
live VB JJ
quicker JJR RBR
and CC CC
longer JJR RBR
than IN IN
other JJ JJ
networks NNS NNS
. . .
<s>
It PRP PRP
filled VBD VBD
its PRP$ PRP$
daily JJ JJ
schedule NN NN
with IN IN
newscasts NNS NNS
called VBN VBN
`` `` ``
Daybreak NNP NNP
, , ,
'' '' ''
`` `` ``
Daywatch : NNP
, , ,
'' '' ''
`` `` ``
Newsday NNP NNP
, , ,
'' '' ''
and CC CC
`` `` ``
Newsnight NNP NNP
, , ,
'' '' ''
but CC CC
the DT DT
shows NNS NNS
varied VBD VBD
little JJ JJ
in IN IN
content NN NN
, , ,
personality NN NN
or CC CC
look NN NN
. . .
<s>
Now RB RB
, , ,
the DT DT
push NN NN
is VBZ VBZ
on IN RB
for IN IN
more-distinctive JJ JJR
shows NNS NNS
. . .
<s>
`` `` ``
Our PRP$ PRP$
goal NN NN
is VBZ VBZ
to TO TO
create VB VB
more JJR JJR
programs NNS NNS
with IN IN
an DT DT
individual JJ JJ
identity NN NN
, , ,
'' '' ''
says VBZ VBZ
Paul NNP NNP
Amos NNP NNP
, , ,
CNN NNP NNP
executive JJ JJ
vice NN NN
president NN NN
for IN IN
programming NN NN
. . .
<s>
Accordingly RB RB
, , ,
CNN NNP NNP
is VBZ VBZ
adding VBG VBG
a DT DT
world-affairs NNS NNS
show VBP NN
in IN IN
the DT DT
morning NN NN
because IN IN
surveys NNS NNS
show VBP VBP
its PRP$ PRP$
global-news JJ NN
hour NN NN
in IN IN
the DT DT
afternoon NN NN
is VBZ VBZ
among IN IN
its PRP$ PRP$
most JJS RBS
`` `` ``
differentiated VBN JJ
'' '' ''
programs NNS NNS
in IN IN
viewers NNS NNS
' POS POS
minds NNS NNS
, , ,
says VBZ VBZ
Mr. NNP NNP
Amos NNP NNP
. . .
<s>
And CC CC
it PRP PRP
is VBZ VBZ
exploring VBG VBG
other JJ JJ
original JJ JJ
programs NNS NNS
, , ,
similar JJ JJ
to TO TO
its PRP$ PRP$
`` `` ``
Larry NNP NNP
King NNP NNP
Live NNP NNP
'' '' ''
and CC CC
`` `` ``
Crossfire NNP NNP
'' '' ''
talk NN NN
shows NNS VBZ
, , ,
which WDT WDT
executives NNS NNS
hope VBP VBP
will MD MD
keep VB VB
people NNS NNS
tuned VBN VBN
in IN RP
. . .
<s>
Then RB RB
there EX EX
's VBZ VBZ
`` `` ``
The DT NNP
World NNP NNP
Today NNP NNP
, , ,
'' '' ''
the DT DT
prime-time NN NN
newscast NN NN
featuring VBG VBG
Mr. NNP NNP
Shaw NNP NNP
and CC CC
Ms. NNP NNP
Crier NNP NNP
. . .
<s>
Until IN IN
now RB RB
, , ,
CNN NNP NNP
has VBZ VBZ
featured VBN VBN
its PRP$ PRP$
Hollywood NNP NNP
gossip NN NN
show NN NN
during IN IN
the DT DT
key JJ JJ
evening NN NN
period NN NN
. . .
<s>
But CC CC
70 CD CD
% NN NN
of IN IN
the DT DT
cable-television-equipped JJ JJ
households NNS NNS
that WDT WDT
watch VBP VBP
news NN NN
do VBP VBP
so RB RB
between IN IN
6:30 CD CD
p.m. NN RB
and CC CC
7 CD CD
p.m. NN RB
, , ,
the DT DT
network NN NN
discovered VBN VBD
, , ,
so IN IN
CNN NNP NNP
wants VBZ VBZ
in IN RB
. . .
<s>
Mr. NNP NNP
Amos NNP NNP
says VBZ VBZ
the DT DT
Shaw-Crier NNP NNP
team NN NN
will MD MD
probably RB RB
do VB VB
two CD CD
live JJ JJ
interviews NNS NNS
a DT DT
day NN NN
, , ,
with IN IN
most JJS JJS
of IN IN
the DT DT
program NN NN
, , ,
at IN IN
least JJS JJS
for IN IN
now RB RB
, , ,
appearing VBG VBG
similar JJ JJ
to TO TO
CNN NNP NNP
's POS POS
other JJ JJ
newcasts NNS NNS
. . .
<s>
Some DT DT
in IN IN
the DT DT
industry NN NN
are VBP VBP
skeptical JJ JJ
. . .
<s>
`` `` ``
I PRP PRP
find VBP VBP
it PRP PRP
hard JJ JJ
to TO TO
conceive VB VB
of IN IN
people NNS NNS
switching VBG VBG
over RP RB
to TO TO
CNN NNP NNP
for IN IN
what WP WP
, , ,
at IN IN
least JJS JJS
in IN IN
the DT DT
public NN NN
's POS POS
mind NN NN
, , ,
is VBZ VBZ
the DT DT
same JJ JJ
news NN NN
, , ,
'' '' ''
says VBZ VBZ
Reuven NNP NNP
Frank NNP NNP
, , ,
the DT DT
former JJ JJ
two-time JJ JJ
president NN NN
of IN IN
NBC NNP NNP
News NNP NNP
and CC CC
creator NN NN
of IN IN
the DT DT
Huntley-Brinkley NNP NNP
Report NNP NNP
. . .
<s>
The DT DT
evening NN NN
news NN NN
is VBZ VBZ
also RB RB
slated VBN VBN
as IN IN
CNN NNP NNP
's POS POS
stage NN NN
for IN IN
its PRP$ PRP$
big JJ JJ
push NN NN
into IN IN
investigative JJ JJ
journalism NN NN
. . .
<s>
In IN IN
August NNP NNP
, , ,
the DT DT
network NN NN
hired VBD VBD
award-winning JJ JJ
producer NN NN
Pamela NNP NNP
Hill NNP NNP
, , ,
the DT DT
former JJ JJ
head NN NN
of IN IN
news NN NN
specials NNS NNS
at IN IN
ABC NNP NNP
. . .
<s>
She PRP PRP
's VBZ VBZ
assembling VBG VBG
a DT DT
staff NN NN
of IN IN
about IN RB
35 CD CD
investigative JJ JJ
reporters NNS NNS
who WP WP
will MD MD
produce VB VB
weekly JJ JJ
, , ,
in-depth JJ JJ
segments NNS NNS
, , ,
with IN IN
an DT DT
eye NN NN
toward IN IN
breaking VBG VBG
big JJ JJ
stories NNS NNS
. . .
<s>
CNN NNP NNP
executives NNS NNS
hope VBP VBP
the DT DT
headlines NNS NNS
created VBN VBN
by IN IN
such JJ JJ
scoops VBZ NNS
will MD MD
generate VB VB
excitement NN NN
for IN IN
its PRP$ PRP$
`` `` ``
branded JJ JJ
'' '' ''
programs NNS NNS
, , ,
in IN IN
the DT DT
way NN NN
`` `` ``
60 CD NNP
Minutes NNPS NNP
'' '' ''
did VBD VBD
so RB RB
well RB RB
for IN IN
CBS NNP NNP
. . .
<s>
That DT DT
's VBZ VBZ
such PDT PDT
a DT DT
departure NN NN
from IN IN
the DT DT
past NN NN
that IN IN
many JJ JJ
in IN IN
the DT DT
industry NN NN
are VBP VBP
skeptical JJ JJ
CNN NNP NNP
will MD MD
follow VB VB
through IN RP
with IN IN
its PRP$ PRP$
investigative JJ JJ
commitment NN NN
, , ,
especially RB RB
after IN IN
it PRP PRP
sees VBZ VBZ
the DT DT
cost NN NN
of IN IN
producing VBG VBG
in-depth JJ JJ
pieces NNS NNS
. . .
<s>
`` `` ``
They PRP PRP
've VBP VBP
never RB RB
shown VBN VBN
any DT DT
inclination NN NN
to TO TO
spend VB VB
money NN NN
on IN IN
production NN NN
, , ,
'' '' ''
says VBZ VBZ
Michael NNP NNP
Mosettig NNP NNP
, , ,
a DT DT
senior JJ JJ
producer NN NN
with IN IN
MacNeil-Lehrer NNP NNP
NewsHour NNP NNP
, , ,
who WP WP
notes VBZ VBZ
that IN IN
CNN NNP NNP
is VBZ VBZ
indispensable JJ JJ
to TO TO
his PRP$ PRP$
job NN NN
. . .
<s>
The DT DT
network NN NN
's POS POS
salaries NNS NNS
have VBP VBP
always RB RB
ranged VBN VBN
far RB RB
below IN IN
industry NN NN
standards NNS NNS
, , ,
resulting VBG VBG
in IN IN
a DT DT
less-experienced JJ JJ
work NN NN
force NN NN
. . .
<s>
CNN NNP NNP
recently RB RB
gave VBD VBD
most JJS JJS
employees NNS NNS
raises VBZ NNS
of IN IN
as RB RB
much JJ JJ
as IN IN
15 CD CD
% NN NN
, , ,
but CC CC
they PRP PRP
're VBP VBP
still RB RB
drastically RB RB
underpaid JJ JJ
compared VBN VBN
with IN IN
the DT DT
networks NNS NNS
. . .
<s>
Says VBZ VBZ
Mr. NNP NNP
Mosettig NNP NNP
: : :
`` `` ``
CNN NNP NNP
is VBZ VBZ
my PRP$ PRP$
wire NN NN
service NN NN
; : :
they PRP PRP
're VBP VBP
on IN IN
top NN NN
of IN IN
everything NN NN
. . .
<s>
But CC CC
to TO TO
improve VB VB
, , ,
they PRP PRP
've VBP VBP
really RB RB
got VBN VBD
to TO TO
make VB VB
the DT DT
investment NN NN
in IN IN
people NNS NNS
. . .
<s>
'' '' ''
In IN IN
any DT DT
case NN NN
, , ,
cable-TV-system NN NN
operators NNS NNS
have VBP VBP
reason NN NN
to TO TO
fear VB VB
any DT DT
tinkering NN NN
with IN IN
CNN NNP NNP
's POS POS
format NN NN
. . .
<s>
They PRP PRP
market VBP VBP
cable-TV NN NN
on IN IN
the DT DT
very JJ JJ
grazing NN NN
opportunities NNS NNS
CNN NNP NNP
seeks VBZ VBZ
to TO TO
discourage VB VB
. . .
<s>
`` `` ``
We PRP PRP
would MD MD
obviously RB RB
be VB VB
upset VBN VBN
if IN IN
those DT DT
kinds NNS NNS
of IN IN
services NNS NNS
evolved VBN VBD
into IN IN
more JJR JJR
general-interest JJ JJ
, , ,
long-format JJ JJ
programming NN NN
, , ,
'' '' ''
says VBZ VBZ
Robert NNP NNP
Stengel NNP NNP
, , ,
senior JJ JJ
vice NN NN
president NN NN
, , ,
programming NN NN
, , ,
of IN IN
Continental NNP NNP
Cablevision NNP NNP
Inc. NNP NNP
, , ,
which WDT WDT
holds VBZ VBZ
a DT DT
2 CD CD
% NN NN
stake NN NN
in IN IN
Turner NNP NNP
Broadcasting NNP NNP
. . .
<s>
The DT DT
Second NNP NNP
U.S. NNP NNP
Circuit NNP NNP
Court NNP NNP
of IN IN
Appeals NNPS NNP
opinion NN NN
in IN IN
the DT DT
Arcadian JJ NNP
Phosphate : NNP
case NN NN
did VBD VBD
not RB RB
repudiate VB VB
the DT DT
position NN NN
Pennzoil NNP NNP
Co. NNP NNP
took VBD VBD
in IN IN
its PRP$ PRP$
dispute NN NN
with IN IN
Texaco NNP NNP
, , ,
contrary JJ JJ
to TO TO
your PRP$ PRP$
Sept. NNP NNP
8 CD CD
article NN NN
`` `` ``
Court NNP NN
Backs NNP VBZ
Texaco NNP NNP
's POS POS
View NNP NN
in IN IN
Pennzoil NNP NNP
Case NNP NN
-- : :
Too RB RB
Late RB RB
. . .
<s>
'' '' ''
The DT DT
fundamental JJ JJ
rule NN NN
of IN IN
contract NN NN
law NN NN
applied VBN VBN
to TO TO
both DT DT
cases NNS NNS
was VBD VBD
that IN IN
courts NNS NNS
will MD MD
not RB RB
enforce VB VB
agreements NNS NNS
to TO TO
which WDT WDT
the DT DT
parties NNS NNS
did VBD VBD
not RB RB
intend VB VB
to TO TO
be VB VB
bound VBN VBN
. . .
<s>
In IN IN
the DT DT
Pennzoil\/Texaco NNP NNP
litigation NN NN
, , ,
the DT DT
courts NNS NNS
found VBD VBD
Pennzoil NNP NNP
and CC CC
Getty NNP NNP
Oil NNP NNP
intended VBD VBD
to TO TO
be VB VB
bound VBN VBN
; : :
in IN IN
Arcadian NNP NNP
Phosphates : NNP
they PRP PRP
found VBD VBD
there EX EX
was VBD VBD
no DT DT
intention NN NN
to TO TO
be VB VB
bound VBN VBN
. . .
<s>
Admittedly RB RB
, , ,
the DT DT
principle NN NN
in IN IN
the DT DT
cases NNS NNS
is VBZ VBZ
the DT DT
same JJ JJ
. . .
<s>
But CC CC
the DT DT
outcome NN NN
of IN IN
a DT DT
legal JJ JJ
dispute NN NN
almost RB RB
always RB RB
turns VBZ VBZ
on IN IN
the DT DT
facts NNS NNS
. . .
<s>
And CC CC
the DT DT
facts NNS NNS
, , ,
as IN IN
found VBN VBN
by IN IN
the DT DT
various JJ JJ
courts NNS NNS
in IN IN
these DT DT
two CD CD
lawsuits NNS NNS
, , ,
were VBD VBD
different JJ JJ
. . .
<s>
When WRB WRB
you PRP PRP
suggest VBP VBP
otherwise RB RB
, , ,
you PRP PRP
leave VBP VBP
the DT DT
realm NN NN
of IN IN
reporting NN NN
and CC CC
enter VB VB
the DT DT
orbit NN NN
of IN IN
speculation NN NN
. . .
<s>
Charles NNP NNP
F. NNP NNP
Vihon NNP NNP
Valley NNP NNP
Federal NNP NNP
Savings NNP NNP
& CC CC
Loan NNP NNP
Association NNP NNP
said VBD VBD
Imperial NNP NNP
Corp. NNP NNP
of IN IN
America NNP NNP
withdrew VBD VBD
from IN IN
regulators NNS NNS
its PRP$ PRP$
application NN NN
to TO TO
buy VB VB
five CD CD
Valley NNP NNP
Federal NNP NNP
branches NNS NNS
, , ,
leaving VBG VBG
the DT DT
transaction NN NN
in IN IN
limbo NN NN
. . .
<s>
The DT DT
broken JJ JJ
purchase NN NN
appears VBZ VBZ
as IN IN
additional JJ JJ
evidence NN NN
of IN IN
trouble NN NN
at IN IN
Imperial NNP NNP
Corp. NNP NNP
, , ,
whose WP$ WP$
spokesman NN NN
said VBD VBD
the DT DT
company NN NN
withdrew VBD VBD
its PRP$ PRP$
application NN NN
from IN IN
the DT DT
federal JJ JJ
Office NNP NNP
of IN IN
Thrift NNP NNP
Supervision NNP NNP
because IN IN
of IN IN
an DT DT
informal JJ JJ
notice NN NN
that IN IN
Imperial NNP NNP
's POS POS
thrift NN NN
unit NN NN
failed VBD VBD
to TO TO
meet VB VB
Community NNP NNP
Reinvestment NNP NNP
Act NNP NNP
requirements NNS NNS
. . .
<s>
The DT DT
Community NNP NNP
Reinvestment NNP NNP
Act NNP NNP
requires VBZ VBZ
savings NNS NNS
and CC CC
loan NN NN
associations NNS NNS
to TO TO
lend VB VB
money NN NN
in IN IN
amounts NNS NNS
related VBN VBN
to TO TO
areas NNS NNS
where WRB WRB
deposits NNS NNS
are VBP VBP
received VBN VBN
. . .
<s>
The DT DT
transaction NN NN
, , ,
announced VBN VBN
in IN IN
August NNP NNP
, , ,
included VBD VBN
about IN RB
$ $ $
146 CD CD
million CD CD
in IN IN
deposits NNS NNS
at IN IN
the DT DT
five CD CD
outlets NNS NNS
in IN IN
California NNP NNP
's POS POS
San NNP NNP
Joaquin NNP NNP
Valley NNP NNP
. . .
<s>
Terms NNS NNS
were VBD VBD
n't RB RB
disclosed VBN VBN
, , ,
but CC CC
Valley NNP NNP
Federal NNP NNP
had VBD VBD
said VBN VBD
it PRP PRP
expected VBD VBD
to TO TO
post VB VB
a DT DT
modest JJ JJ
pretax JJ JJ
gain NN NN
and CC CC
to TO TO
save VB VB
about IN RB
$ $ $
2 CD CD
million CD CD
in IN IN
operating NN NN
costs NNS NNS
annually RB RB
. . .
<s>
Valley NNP NNP
Federal NNP NNP
said VBD VBD
Friday NNP NNP
that IN IN
it PRP PRP
is VBZ VBZ
considering VBG VBG
whether IN IN
to TO TO
seek VB VB
another DT DT
buyer NN NN
for IN IN
the DT DT
branches NNS NNS
or CC CC
to TO TO
pursue VB VB
the DT DT
transaction NN NN
with IN IN
Imperial NNP NNP
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it PRP PRP
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for IN IN
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in IN IN
the DT DT
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of IN IN
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& CC CC
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for IN IN
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of IN IN
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for IN IN
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of IN IN
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of IN IN
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he PRP PRP
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in IN IN
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to TO TO
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of IN IN
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of IN IN
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was VBD VBD
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and CC CC
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Thousands NNS NNS
of IN IN
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brandishing : VBG
flags NNS NNS
of IN IN
the DT DT
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gave VBD VBD
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of IN IN
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had VBD VBD
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in IN IN
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with IN IN
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for IN IN
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for IN IN
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in IN IN
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. . .
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de IN NNP
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as IN IN
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's POS POS
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of IN IN
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. . .
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of IN IN
the DT DT
ANC NNP NNP
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remains VBZ VBZ
in IN IN
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his PRP$ PRP$
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within IN IN
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Soviet NNP NNP
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that IN IN
thousands NNS NNS
of IN IN
tons NNS NNS
of IN IN
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to TO TO
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across IN IN
the DT DT
nation NN NN
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up RP RP
at IN IN
ports NNS NNS
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depots NNS NNS
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and CC CC
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were VBD VBD
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of IN IN
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of IN IN
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and CC CC
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to TO TO
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and CC CC
Premier NNP NNP
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of IN IN
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indicated VBD VBD
there EX EX
might MD MD
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for IN IN
flexibility NN NN
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in IN IN
a DT DT
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to TO TO
allow VB VB
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of IN IN
abortions NNS NNS
for IN IN
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of IN IN
rape NN NN
and CC CC
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of IN IN
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. . .
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, , ,
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for IN IN
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of IN IN
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. . .
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White NNP NNP
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minors NNS NNS
have VBP VBP
n't RB RB
any DT DT
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to TO TO
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without IN IN
the DT DT
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of IN IN
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on IN IN
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to TO TO
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. . .
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Department NNP NNP
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that IN IN
the DT DT
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has VBZ VBZ
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the DT DT
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to TO TO
seize VB VB
U.S. NNP NNP
fugitives NNS NNS
overseas RB RB
without IN IN
the DT DT
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of IN IN
foreign JJ JJ
governments NNS NNS
. . .
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of IN IN
State NNP NNP
Baker NNP NNP
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Friday NNP NNP
that IN IN
the DT DT
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by IN IN
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without IN IN
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of IN IN
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implications NNS NNS
. . .
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pronounced VBD VBD
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for IN IN
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following VBG VBG
a DT DT
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of IN IN
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of IN IN
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. . .
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's POS POS
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are VBP VBP
to TO TO
dispatch VB VB
the DT DT
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space NN NN
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on IN IN
an DT DT
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to TO TO
Jupiter NNP NNP
. . .
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's POS POS
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to TO TO
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for IN IN
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is VBZ VBZ
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to TO TO
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on IN IN
ties NNS NNS
between IN IN
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and CC CC
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who WP WP
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calls NNS NNS
for IN IN
the DT DT
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of IN IN
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in IN IN
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Korea NNP NNP
, , ,
is VBZ VBZ
to TO TO
meet VB VB
with IN IN
Bush NNP NNP
tomorrow NN NN
and CC CC
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of IN IN
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on IN IN
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to TO TO
purge VB VB
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of IN IN
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and CC CC
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exploiters NNS NNS
. . .
<s>
The DT DT
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, , ,
reported VBN VBN
by IN IN
the DT DT
official JJ JJ
Xinhua NNP NNP
News NNP NNP
Agency NNP NNP
, , ,
indicated VBD VBD
that IN IN
the DT DT
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prompted VBN VBN
by IN IN
student-led JJ JJ
pro-democracy JJ JJ
protests NNS NNS
in IN IN
June NNP NNP
is VBZ VBZ
intensifying VBG VBG
. . .
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of IN IN
East NNP NNP
Germans NNPS NNPS
flocked VBD VBD
to TO TO
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's POS POS
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in IN IN
Warsaw NNP NNP
, , ,
bringing VBG VBG
to TO TO
more JJR JJR
than IN IN
1,200 CD CD
the DT DT
number NN NN
of IN IN
emigres NNS NNS
expected VBN VBN
to TO TO
flee VB VB
to TO TO
the DT DT
West NNP NNP
beginning VBG NN
today NN NN
. . .
<s>
More JJR JJR
than IN IN
2,100 CD CD
others NNS NNS
escaped VBN VBD
to TO TO
West NNP NNP
Germany NNP NNP
through IN IN
Hungary NNP NNP
over IN IN
the DT DT
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. . .
<s>
In IN IN
Leipzig NNP NNP
, , ,
activists NNS NNS
vowed VBD VBD
to TO TO
continue VB VB
street NN NN
protests NNS NNS
to TO TO
demand VB VB
internal JJ JJ
change NN NN
. . .
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Zaire NNP NNP
's POS POS
President NNP NNP
Mobutu NNP NNP
met VBD VBD
in IN IN
southern JJ JJ
France NNP NNP
with IN IN
Angolan NNP JJ
rebel NN NN
leader NN NN
Savimbi NNP NNP
and CC CC
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U.S. NNP NNP
envoy NN NN
in IN IN
a DT DT
bid NN NN
to TO TO
revive VB VB
an DT DT
accord NN NN
to TO TO
end VB VB
Angola NNP NNP
's POS POS
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war NN NN
. . .
<s>
Details NNS NNS
of IN IN
the DT DT
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, , ,
described VBN VBN
by IN IN
a DT DT
Zairean JJ JJ
official NN NN
as IN IN
`` `` ``
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delicate JJ JJ
, , ,
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n't RB RB
disclosed VBN VBN
. . .
<s>
PLO NNP NNP
leader NN NN
Arafat NNP NNP
insisted VBD VBD
on IN IN
guarantees NNS NNS
that IN IN
any DT DT
elections NNS NNS
in IN IN
the DT DT
Israeli-occupied JJ JJ
territories NNS NNS
would MD MD
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. . .
<s>
He PRP PRP
made VBD VBD
his PRP$ PRP$
remarks NNS NNS
to TO TO
a DT DT
PLO NNP NNP
gathering NN NN
in IN IN
Baghdad NNP NNP
. . .
<s>
In IN IN
the DT DT
occupied JJ JJ
lands NNS NNS
, , ,
underground JJ JJ
leaders NNS NNS
of IN IN
the DT DT
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uprising NN NN
rejected VBD VBD
a DT DT
U.S. NNP NNP
plan NN NN
to TO TO
arrange VB VB
Israeli-Palestinian JJ JJ
talks NNS NNS
as IN IN
Shamir NNP NNP
opposed VBD VBD
holding VBG VBG
such JJ JJ
discussions NNS NNS
in IN IN
Cairo NNP NNP
. . .
<s>
Lebanese JJ JJ
Christian JJ JJ
lawmakers NNS NNS
presented VBD VBN
to TO TO
Arab NNP NNP
mediators NNS NNS
at IN IN
talks NNS NNS
in IN IN
Saudi NNP NNP
Arabia NNP NNP
proposals NNS NNS
for IN IN
a DT DT
new JJ JJ
timetable NN NN
for IN IN
the DT DT
withdrawal NN NN
of IN IN
Syria NNP NNP
's POS POS
forces NNS NNS
from IN IN
Lebanon NNP NNP
. . .
<s>
A DT DT
plan NN NN
currently RB RB
under IN IN
study NN NN
gives VBZ VBZ
Damascus NNP NNP
two CD CD
years NNS NNS
to TO TO
pull VB VB
back RB RB
to TO TO
eastern JJ JJ
Lebanon NNP NNP
, , ,
starting VBG VBG
from IN IN
the DT DT
time NN NN
Beirut NNP NNP
's POS POS
legislature NN NN
increases NNS VBZ
political JJ JJ
power NN NN
for IN IN
Moslems NNPS NNPS
. . .
<s>
Hurricane NNP NNP
Jerry NNP NNP
threatened VBD VBD
to TO TO
combine VB VB
with IN IN
the DT DT
highest JJS JJS
tides NNS NNS
of IN IN
the DT DT
year NN NN
to TO TO
swamp VB VB
the DT DT
Texas-Louisiana NNP NNP
coast NN NN
. . .
<s>
Thousands NNS NNS
of IN IN
residents NNS NNS
of IN IN
low-lying JJ JJ
areas NNS NNS
were VBD VBD
ordered VBN VBN
to TO TO
evacuate VB VB
as IN IN
the DT DT
storm NN NN
headed VBD VBD
north RB RB
in IN IN
the DT DT
Gulf NNP NNP
of IN IN
Mexico NNP NNP
with IN IN
80 CD CD
mph NN JJ
winds NNS NNS
. . .
<s>
A DT DT
group NN NN
of IN IN
Arby NNP NNP
's POS POS
franchisees NNS NNS
said VBD VBD
they PRP PRP
formed VBD VBD
an DT DT
association NN NN
to TO TO
oppose VB VB
Miami NNP NNP
Beach NNP NNP
financier NN NN
Victor NNP NNP
Posner NNP NNP
's POS POS
control NN NN
of IN IN
the DT DT
restaurant NN NN
chain NN NN
. . .
<s>
The DT DT
decision NN NN
is VBZ VBZ
the DT DT
latest JJS JJS
move NN NN
in IN IN
an DT DT
escalating : VBG
battle NN NN
between IN IN
the DT DT
franchisees NNS NNS
and CC CC
Mr. NNP NNP
Posner NNP NNP
that WDT WDT
began VBD VBD
in IN IN
August NNP NNP
. . .
<s>
At IN IN
the DT DT
time NN NN
, , ,
a DT DT
group NN NN
called VBN VBD
R.B. NNP NNP
Partners NNPS NNP
Ltd. NNP NNP
, , ,
consisting VBG VBG
of IN IN
eight CD CD
of IN IN
Arby NNP NNP
's POS POS
largest JJS JJS
franchisees NNS NNS
, , ,
offered VBD VBD
more JJR JJR
than IN IN
$ $ $
200 CD CD
million CD CD
to TO TO
buy VB VB
Arby NNP NNP
's POS POS
Inc. NNP NN
, , ,
which WDT WDT
is VBZ VBZ
part NN NN
of IN IN
DWG NNP NNP
Corp NNP NNP
. . .
<s>
DWG NNP NNP
is VBZ VBZ
a DT DT
holding VBG NN
company NN NN
controlled VBN VBN
by IN IN
Mr. NNP NNP
Posner NNP NNP
. . .
<s>
One CD CD
week NN NN
later RB RB
, , ,
Leonard NNP NNP
H. NNP NNP
Roberts NNP NNP
, , ,
president NN NN
and CC CC
chief JJ JJ
executive JJ JJ
officer NN NN
of IN IN
Arby NNP NNP
's POS POS
, , ,
was VBD VBD
fired VBN VBN
in IN IN
a DT DT
dispute NN NN
with IN IN
Mr. NNP NNP
Posner NNP NNP
. . .
<s>
Friday NNP NNP
, , ,
42 CD CD
franchisees NNS NNS
announced VBD VBD
the DT DT
formation NN NN
of IN IN
an DT DT
association NN NN
-- : :
called VBN VBN
A.P. NNP NNP
Association NNP NNP
Inc. NNP NNP
-- : :
to TO TO
`` `` ``
preserve VB VB
the DT DT
integrity NN NN
of IN IN
the DT DT
Arby NNP NNP
's POS POS
system NN NN
. . .
<s>
'' '' ''
The DT DT
franchisees NNS NNS
, , ,
owners NNS NNS
or CC CC
operators NNS NNS
of IN IN
1,000 CD CD
of IN IN
the DT DT
1,900 CD CD
franchised VBN JJ
Arby NNP NNP
's POS POS
in IN IN
the DT DT
U.S. NNP NNP
, , ,
said VBD VBD
: : :
`` `` ``
We PRP PRP
have VBP VBP
concluded VBN VBN
that IN IN
continued VBD JJ
control NN NN
of IN IN
Arby NNP NNP
's POS POS
by IN IN
Victor NNP NNP
Posner NNP NNP
is VBZ VBZ
totally RB RB
unacceptable JJ JJ
to TO TO
us PRP PRP
, , ,
because IN IN
it PRP PRP
is VBZ VBZ
extremely RB RB
likely JJ JJ
to TO TO
cause VB VB
irreparable JJ JJ
damage NN NN
to TO TO
the DT DT
Arby NNP NNP
's POS POS
system NN NN
. . .
<s>
We PRP PRP
support VBP VBP
all DT DT
efforts NNS NNS
to TO TO
remove VB VB
Victor NNP NNP
Posner NNP NNP
from IN IN
control NN NN
of IN IN
Arby NNP NNP
's POS POS
Inc. NNP NNP
and CC CC
the DT DT
Arby NNP NNP
's POS POS
system NN NN
. . .
<s>
'' '' ''
The DT DT
group NN NN
said VBD VBD
it PRP PRP
would MD MD
consider VB VB
, , ,
among IN IN
other JJ JJ
things NNS NNS
, , ,
withholding VBG VBG
royalty NN NN
payments NNS NNS
and CC CC
initiating VBG VBG
a DT DT
class-action JJ JJ
lawsuit NN NN
seeking VBG VBG
court NN NN
approval NN NN
for IN IN
the DT DT
withholdings NNS NNS
. . .
<s>
In IN IN
Florida NNP NNP
, , ,
Renee NNP NNP
Mottram NNP NNP
, , ,
a DT DT
senior JJ JJ
vice NN NN
president NN NN
at IN IN
DWG NNP NNP
, , ,
responded VBD VBD
: : :
`` `` ``
We PRP PRP
do VBP VBP
n't RB RB
think VB VB
any DT DT
individual JJ NN
or CC CC
group NN NN
should MD MD
disrupt VB VB
a DT DT
winning VBG JJ
system NN NN
or CC CC
illegally RB RB
interfere VB VB
with IN IN
existing VBG JJ
contractual JJ JJ
relationships NNS NNS
for IN IN
their PRP$ PRP$
own JJ JJ
self-serving JJ JJ
motives NNS NNS
. . .
<s>
September NNP NNP
's POS POS
steep JJ JJ
rise NN NN
in IN IN
producer NN NN
prices NNS NNS
shows VBZ VBZ
that IN IN
inflation NN NN
still RB RB
persists VBZ VBZ
, , ,
and CC CC
the DT DT
pessimism NN NN
over IN IN
interest NN NN
rates NNS NNS
caused VBN VBN
by IN IN
the DT DT
new JJ JJ
price NN NN
data NNS NNS
contributed VBD VBD
to TO TO
the DT DT
stock NN NN
market NN NN
's POS POS
plunge NN NN
Friday NNP NNP
. . .
<s>
After IN IN
falling VBG VBG
for IN IN
three CD CD
consecutive JJ JJ
months NNS NNS
, , ,
the DT DT
producer NN NN
price NN NN
index NN NN
for IN IN
finished VBN JJ
goods NNS NNS
shot VBD VBD
up RB RB
0.9 CD CD
% NN NN
last JJ JJ
month NN NN
, , ,
the DT DT
Labor NNP NNP
Department NNP NNP
reported VBD VBD
Friday NNP NNP
, , ,
as IN IN
energy NN NN
prices NNS NNS
jumped VBD VBD
after IN IN
tumbling VBG VBG
through IN IN
the DT DT
summer NN NN
. . .
<s>
Although IN IN
the DT DT
report NN NN
, , ,
which WDT WDT
was VBD VBD
released VBN VBN
before IN IN
the DT DT
stock NN NN
market NN NN
opened VBD VBD
, , ,
did VBD VBD
n't RB RB
trigger VB VB
the DT DT
190.58-point JJ JJ
drop NN NN
in IN IN
the DT DT
Dow NNP NNP
Jones NNP NNP
Industrial NNP NNP
Average NNP NNP
, , ,
analysts NNS NNS
said VBD VBD
it PRP PRP
did VBD VBD
play VB VB
a DT DT
role NN NN
in IN IN
the DT DT
market NN NN
's POS POS
decline NN NN
. . .
<s>
Analysts NNS NNS
immediately RB RB
viewed VBD VBD
the DT DT
price NN NN
data NNS NN
, , ,
the DT DT
grimmest JJS JJS
inflation NN NN
news NN NN
in IN IN
months NNS NNS
, , ,
as IN IN
evidence NN NN
that IN IN
the DT DT
Federal NNP NNP
Reserve NNP NNP
was VBD VBD
unlikely JJ JJ
to TO TO
allow VB VB
interest NN NN
rates NNS NNS
to TO TO
fall VB VB
as IN IN
many JJ JJ
investors NNS NNS
had VBD VBD
hoped VBN VBN
. . .
<s>
Further JJ RB
fueling VBG VBG
the DT DT
belief NN NN
that IN IN
pressures NNS NNS
in IN IN
the DT DT
economy NN NN
were VBD VBD
sufficient JJ JJ
to TO TO
keep VB VB
the DT DT
Fed NNP NNP
from IN IN
easing VBG VBG
credit NN NN
, , ,
the DT DT
Commerce NNP NNP
Department NNP NNP
reported VBD VBD
Friday NNP NNP
that IN IN
retail JJ JJ
sales NNS NNS
grew VBD VBD
0.5 CD CD
% NN NN
in IN IN
September NNP NNP
, , ,
to TO TO
$ $ $
145.21 CD CD
billion CD CD
. . .
<s>
That DT DT
rise NN NN
came VBD VBD
on IN IN
top NN NN
of IN IN
a DT DT
0.7 CD CD
% NN NN
gain NN NN
in IN IN
August NNP NNP
, , ,
and CC CC
suggested VBD VBD
there EX EX
is VBZ VBZ
still RB RB
healthy JJ JJ
consumer NN NN
demand NN NN
in IN IN
the DT DT
economy NN NN
. . .
<s>
`` `` ``
I PRP PRP
think VBP VBP
the DT DT
Friday NNP NNP
report NN NN
, , ,
combined VBN VBN
with IN IN
the DT DT
actions NNS NNS
of IN IN
the DT DT
Fed NNP NNP
, , ,
weakened VBD VBD
the DT DT
belief NN NN
that IN IN
there EX EX
was VBD VBD
going VBG VBG
to TO TO
be VB VB
an DT DT
imminent JJ JJ
easing NN NN
of IN IN
monetary JJ JJ
policy NN NN
, , ,
'' '' ''
said VBD VBD
Robert NNP NNP
Dederick NNP NNP
, , ,
chief JJ JJ
economist NN NN
at IN IN
Northern NNP NNP
Trust NNP NNP
Co. NNP NNP
in IN IN
Chicago NNP NNP
. . .
<s>
But CC CC
economists NNS NNS
were VBD VBD
divided VBN JJ
over IN IN
the DT DT
extent NN NN
of IN IN
the DT DT
inflation NN NN
threat NN NN
signaled VBN VBD
by IN IN
the DT DT
new JJ JJ
numbers NNS NNS
. . .
<s>
`` `` ``
The DT DT
overall JJ JJ
0.9 CD CD
% NN NN
increase NN NN
is VBZ VBZ
serious JJ JJ
in IN IN
itself PRP PRP
, , ,
but CC CC
what WP WP
is VBZ VBZ
even RB RB
worse JJR JJR
is VBZ VBZ
that IN IN
excluding VBG VBG
food NN NN
and CC CC
energy NN NN
, , ,
the DT DT
producer NN NN
price NN NN
index NN NN
still RB RB
increased VBN VBD
by IN IN
0.7 CD CD
% NN NN
, , ,
'' '' ''
said VBD VBD
Gordon NNP NNP
Richards NNP NNP
, , ,
an DT DT
economist NN NN
at IN IN
the DT DT
National NNP NNP
Association NNP NNP
of IN IN
Manufacturers NNP NNP
. . .
<s>
But CC CC
Sung NNP NNP
Won NNP NNP
Sohn NNP NNP
, , ,
chief JJ JJ
economist NN NN
at IN IN
Norwest NNP NNP
Corp. NNP NNP
in IN IN
Minneapolis NNP NNP
, , ,
blamed VBD VBD
rising VBG VBG
energy NN NN
prices NNS NNS
and CC CC
the DT DT
annual JJ JJ
autumn NN NN
increase NN NN
in IN IN
car NN NN
prices NNS NNS
for IN IN
most JJS JJS
of IN IN
the DT DT
September NNP NNP
jump NN NN
. . .
<s>
`` `` ``
I PRP PRP
would MD MD
say VB VB
this DT DT
is VBZ VBZ
not RB RB
bad JJ JJ
news NN NN
; : :
this DT DT
is VBZ VBZ
a DT DT
blip NN NN
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
`` `` ``
The DT DT
core NN JJ
rate NN NN
is VBZ VBZ
not RB RB
really RB RB
out IN IN
of IN IN
line NN NN
. . .
<s>
'' '' ''
All DT DT
year NN NN
, , ,
energy NN NN
prices NNS NNS
have VBP VBP
skewed VBN VBN
the DT DT
producer NN NN
price NN NN
index NN NN
, , ,
which WDT WDT
measures VBZ VBZ
changes NNS NNS
in IN IN
the DT DT
prices NNS NNS
producers NNS NNS
receive VBP VBP
for IN IN
goods NNS NNS
. . .
<s>
Inflation NN NN
unquestionably RB RB
has VBZ VBZ
fallen VBN VBN
back RB RB
from IN IN
its PRP$ PRP$
torrid JJ JJ
pace NN NN
last JJ JJ
winter NN NN
, , ,
when WRB WRB
a DT DT
steep JJ JJ
run-up NN NN
in IN IN
world NN NN
oil NN NN
prices NNS NNS
sent VBD VBD
the DT DT
index NN NN
surging VBG VBG
at IN IN
double-digit JJ JJ
annual JJ JJ
rates NNS NNS
. . .
<s>
Energy NN NN
prices NNS NNS
then RB RB
plummeted VBD VBN
through IN IN
the DT DT
summer NN NN
, , ,
causing VBG VBG
the DT DT
index NN NN
to TO TO
decline VB VB
for IN IN
three CD CD
consecutive JJ JJ
months NNS NNS
. . .
<s>
Overall RB RB
, , ,
the DT DT
index NN NN
has VBZ VBZ
climbed VBN VBN
at IN IN
a DT DT
5.1 CD CD
% NN NN
compound JJ JJ
annual JJ JJ
rate NN NN
since IN IN
the DT DT
start NN NN
of IN IN
the DT DT
year NN NN
, , ,
the DT DT
Labor NNP NNP
Department NNP NNP
said VBD VBD
. . .
<s>
While IN IN
far RB RB
more RBR RBR
restrained VBN JJ
than IN IN
the DT DT
pace NN NN
at IN IN
the DT DT
beginning NN NN
of IN IN
the DT DT
year NN NN
, , ,
that WDT WDT
is VBZ VBZ
still RB RB
a DT DT
steeper JJR JJR
rise NN NN
than IN IN
the DT DT
4.0 CD CD
% NN NN
increase NN NN
for IN IN
all DT DT
of IN IN
1988 CD CD
. . .
<s>
Moreover RB RB
, , ,
this DT DT
year NN NN
's POS POS
good JJ JJ
inflation NN NN
news NN NN
may MD MD
have VB VB
ended VBN VBN
last JJ JJ
month NN NN
, , ,
when WRB WRB
energy NN NN
prices NNS NNS
zoomed VBN VBD
up RB RB
6.5 CD CD
% NN NN
after IN IN
plunging VBG VBG
7.3 CD CD
% NN NN
in IN IN
August NNP NNP
. . .
<s>
Some DT DT
analysts NNS NNS
expect VBP VBP
oil NN NN
prices NNS NNS
to TO TO
remain VB VB
relatively RB RB
stable JJ JJ
in IN IN
the DT DT
months NNS NNS
ahead RB RB
, , ,
leaving VBG VBG
the DT DT
future JJ JJ
pace NN NN
of IN IN
inflation NN NN
uncertain JJ JJ
. . .
<s>
Analysts NNS NNS
had VBD VBD
expected VBN VBN
that IN IN
the DT DT
climb NN NN
in IN IN
oil NN NN
prices NNS NNS
last JJ JJ
month NN NN
would MD MD
lead VB VB
to TO TO
a DT DT
substantial JJ JJ
rise NN NN
in IN IN
the DT DT
producer NN NN
price NN NN
index NN NN
, , ,
but CC CC
the DT DT
0.9 CD CD
% NN NN
climb NN NN
was VBD VBD
higher JJR JJR
than IN IN
most RBS JJS
anticipated VBN VBD
. . .
<s>
`` `` ``
I PRP PRP
think VBP VBP
the DT DT
resurgence NN NN
( ( (
in IN IN
inflation NN NN
) ) )
is VBZ VBZ
going VBG VBG
to TO TO
continue VB VB
for IN IN
a DT DT
few JJ JJ
months NNS NNS
, , ,
'' '' ''
said VBD VBD
John NNP NNP
Mueller NNP NNP
, , ,
chief JJ JJ
economist NN NN
at IN IN
Bell NNP NNP
Mueller NNP NNP
Cannon NNP NNP
, , ,
a DT DT
Washington NNP NNP
economic JJ JJ
forecasting NN NN
firm NN NN
. . .
<s>
He PRP PRP
predicted VBD VBD
that IN DT
inflation NN NN
will MD MD
moderate VB VB
next JJ JJ
year NN NN
, , ,
saying VBG VBG
that IN IN
credit NN NN
conditions NNS NNS
are VBP VBP
fairly RB RB
tight JJ JJ
world-wide JJ RB
. . .
<s>
But CC CC
Dirk NNP NNP
Van NNP NNP
Dongen NNP NNP
, , ,
president NN NN
of IN IN
the DT DT
National NNP NNP
Association NNP NNP
of IN IN
Wholesaler-Distributors NNP NNP
, , ,
said VBD VBD
that IN IN
last JJ JJ
month NN NN
's POS POS
rise NN NN
`` `` ``
is VBZ VBZ
n't RB RB
as RB RB
bad JJ JJ
an DT DT
omen NN NN
'' '' ''
as IN IN
the DT DT
0.9 CD CD
% NN NN
figure NN NN
suggests VBZ VBZ
. . .
<s>
`` `` ``
If IN IN
you PRP PRP
examine VBP VBP
the DT DT
data NNS NN
carefully RB RB
, , ,
the DT DT
increase NN NN
is VBZ VBZ
concentrated VBN VBN
in IN IN
energy NN NN
and CC CC
motor NN NN
vehicle NN NN
prices NNS NNS
, , ,
rather RB RB
than IN IN
being VBG VBG
a DT DT
broad-based JJ JJ
advance NN NN
in IN IN
the DT DT
prices NNS NNS
of IN IN
consumer NN NN
and CC CC
industrial JJ JJ
goods NNS NNS
, , ,
'' '' ''
he PRP PRP
explained VBD VBD
. . .
<s>
Passenger NN NN
car NN NN
prices NNS NNS
jumped VBD VBD
3.8 CD CD
% NN NN
in IN IN
September NNP NNP
, , ,
after IN IN
climbing VBG VBG
0.5 CD CD
% NN NN
in IN IN
August NNP NNP
and CC CC
declining VBG VBG
in IN IN
the DT DT
late JJ JJ
spring NN NN
and CC CC
summer NN NN
. . .
<s>
Many JJ JJ
analysts NNS NNS
said VBD VBD
the DT DT
September NNP NNP
increase NN NN
was VBD VBD
a DT DT
one-time JJ JJ
event NN NN
, , ,
coming VBG VBG
as IN IN
dealers NNS NNS
introduced VBD VBD
their PRP$ PRP$
1990 CD CD
models NNS NNS
. . .
<s>
Although IN IN
all DT PDT
the DT DT
price NN NN
data NNS NNS
were VBD VBD
adjusted VBN VBN
for IN IN
normal JJ JJ
seasonal JJ JJ
fluctuations NNS NNS
, , ,
car NN NN
prices NNS NNS
rose VBD VBD
beyond IN IN
the DT DT
customary JJ JJ
autumn NN NN
increase NN NN
. . .
<s>
Prices NNS NNS
for IN IN
capital NN NN
equipment NN NN
rose VBD VBD
a DT DT
hefty JJ JJ
1.1 CD CD
% NN NN
in IN IN
September NNP NNP
, , ,
while IN IN
prices NNS NNS
for IN IN
home NN NN
electronic JJ JJ
equipment NN NN
fell VBD VBD
1.1 CD CD
% NN NN
. . .
<s>
Food NN NN
prices NNS NNS
declined VBD VBD
0.6 CD CD
% NN NN
, , ,
after IN IN
climbing VBG VBG
0.3 CD CD
% NN NN
in IN IN
August NNP NNP
. . .
<s>
Meanwhile RB RB
, , ,
the DT DT
retail JJ JJ
sales NNS NNS
report NN NN
showed VBD VBD
that IN IN
car NN NN
sales NNS NNS
rose VBD VBD
0.8 CD CD
% NN NN
in IN IN
September NNP NNP
to TO TO
$ $ $
32.82 CD CD
billion CD CD
. . .
<s>
But CC CC
at IN IN
least JJS JJS
part NN NN
of IN IN
the DT DT
increase NN NN
could MD MD
have VB VB
come VBN VBN
from IN IN
higher JJR JJR
prices NNS NNS
, , ,
analysts NNS NNS
said VBD VBD
. . .
<s>
Sales NNS NNS
at IN IN
general JJ JJ
merchandise NN NN
stores NNS NNS
rose VBD VBD
1.7 CD CD
% NN NN
after IN IN
declining VBG VBG
0.6 CD CD
% NN NN
in IN IN
August NNP NNP
, , ,
while IN IN
sales NNS NNS
of IN IN
building NN NN
materials NNS NNS
fell VBD VBD
1.8 CD CD
% NN NN
after IN IN
rising VBG VBG
1.7 CD CD
% NN NN
. . .
<s>
Producer NN NN
prices NNS NNS
for IN IN
intermediate JJ JJ
goods NNS NNS
grew VBD VBD
0.4 CD CD
% NN NN
in IN IN
September NNP NNP
, , ,
after IN IN
dropping VBG VBG
for IN IN
three CD CD
consecutive JJ JJ
months NNS NNS
. . .
<s>
Prices NNS NNS
for IN IN
crude JJ JJ
goods NNS NNS
, , ,
an DT DT
array NN NN
of IN IN
raw JJ JJ
materials NNS NNS
, , ,
jumped VBD VBD
1.1 CD CD
% NN NN
after IN IN
declining VBG VBG
1.9 CD CD
% NN NN
in IN IN
August NNP NNP
and CC CC
edging VBG VBG
up RB RP
0.2 CD CD
% NN NN
in IN IN
July NNP NNP
. . .
<s>
Here RB RB
are VBP VBP
the DT DT
Labor NNP NNP
Department NNP NNP
's POS POS
producer NN NN
price NN NN
indexes NNS NNS
( ( (
1982 CD CD
= SYM SYM
100 CD CD
) ) )
for IN IN
September NNP NNP
, , ,
before IN IN
seasonal JJ JJ
adjustment NN NN
, , ,
and CC CC
the DT DT
percentage NN NN
changes NNS NNS
from IN IN
September NNP NNP
, , ,
1988 CD CD
. . .
<s>
CityFed NNP NNP
Financial NNP NNP
Corp. NNP NNP
said VBD VBD
it PRP PRP
expects VBZ VBZ
to TO TO
report VB VB
a DT DT
loss NN NN
of IN IN
at IN IN
least JJS JJS
$ $ $
125 CD CD
million CD CD
to TO TO
$ $ $
150 CD CD
million CD CD
for IN IN
the DT DT
third JJ JJ
quarter NN NN
. . .
<s>
In IN IN
the DT DT
year-earlier JJ JJ
period NN NN
, , ,
CityFed NNP NNP
had VBD VBD
net JJ JJ
income NN NN
of IN IN
$ $ $
485,000 CD CD
, , ,
but CC CC
no DT DT
per-share JJ JJ
earnings NNS NNS
. . .
<s>
CityFed NNP NNP
's POS POS
president NN NN
and CC CC
chief JJ JJ
executive NN JJ
officer NN NN
, , ,
John NNP NNP
Atherton NNP NNP
, , ,
said VBD VBD
the DT DT
loss NN NN
stems VBZ VBZ
from IN IN
several JJ JJ
factors NNS NNS
. . .
<s>
He PRP PRP
said VBD VBD
nonperforming VBG JJ
assets NNS NNS
rose VBD VBD
to TO TO
slightly RB RB
more JJR JJR
than IN IN
$ $ $
700 CD CD
million CD CD
from IN IN
$ $ $
516 CD CD
million CD CD
between IN IN
June NNP NNP
and CC CC
September NNP NNP
. . .
<s>
Approximately RB RB
85 CD CD
% NN NN
of IN IN
the DT DT
total NN NN
consisted VBD VBD
of IN IN
nonperforming VBG JJ
commercial JJ JJ
real JJ JJ
estate NN NN
assets NNS NNS
. . .
<s>
Accordingly RB RB
, , ,
CityFed NNP NNP
estimated VBD VBD
that IN IN
it PRP PRP
will MD MD
provide VB VB
between IN IN
$ $ $
85 CD CD
million CD CD
and CC CC
$ $ $
110 CD CD
million CD CD
for IN IN
credit NN NN
losses NNS NNS
in IN IN
the DT DT
third JJ JJ
quarter NN NN
. . .
<s>
CityFed NNP NNP
added VBD VBD
that IN IN
significant JJ JJ
additional JJ JJ
loan-loss JJ JJ
provisions NNS NNS
may MD MD
be VB VB
required VBN VBN
by IN IN
federal JJ JJ
regulators NNS NNS
as IN IN
part NN NN
of IN IN
the DT DT
current JJ JJ
annual JJ JJ
examination NN NN
of IN IN
City NNP NNP
Federal NNP NNP
Savings NNP NNP
Bank NNP NNP
, , ,
CityFed NNP NNP
's POS POS
primary JJ JJ
subsidiary NN NN
, , ,
based VBN VBN
in IN IN
Somerset NNP NNP
, , ,
N.J NNP NNP
. . .
<s>
City NNP NNP
Federal NNP NNP
operates VBZ VBZ
105 CD CD
banking NN NN
offices NNS NNS
in IN IN
New NNP NNP
Jersey NNP NNP
and CC CC
Florida NNP NNP
. . .
<s>
Mr. NNP NNP
Atherton NNP NNP
said VBD VBD
CityFed NNP NNP
will MD MD
also RB RB
mark VB VB
its PRP$ PRP$
portfolio NN NN
of IN IN
high-yield JJ JJ
corporate JJ JJ
bonds NNS NNS
to TO TO
market NN NN
as IN IN
a DT DT
result NN NN
of IN IN
federal JJ JJ
legislation NN NN
requiring VBG VBG
that IN IN
savings NNS NNS
institutions NNS NNS
divest VB VB
themselves PRP PRP
of IN IN
such JJ JJ
bonds NNS NNS
. . .
<s>
That DT DT
action NN NN
, , ,
CityFed NNP NNP
said VBD VBD
, , ,
will MD MD
result VB VB
in IN IN
a DT DT
charge NN NN
against IN IN
third-quarter JJ JJ
results NNS NNS
of IN IN
approximately RB RB
$ $ $
30 CD CD
million CD CD
. . .
<s>
CityFed NNP NNP
also RB RB
said VBD VBD
it PRP PRP
expects VBZ VBZ
to TO TO
shed VB VB
its PRP$ PRP$
remaining VBG VBG
mortgage NN NN
loan NN NN
origination : NN
operations NNS NNS
outside IN IN
its PRP$ PRP$
principal JJ JJ
markets NNS NNS
in IN IN
New NNP NNP
Jersey NNP NNP
and CC CC
Florida NNP NNP
and CC CC
, , ,
as IN IN
a DT DT
result NN NN
, , ,
is VBZ VBZ
taking VBG VBG
a DT DT
charge NN NN
for IN IN
discontinued VBN JJ
operations NNS NNS
. . .
<s>
All PDT PDT
these DT DT
actions NNS NNS
, , ,
Mr. NNP NNP
Atherton NNP NNP
said VBD VBD
, , ,
will MD MD
result VB VB
in IN IN
a DT DT
loss NN NN
of IN IN
$ $ $
125 CD CD
million CD CD
to TO TO
$ $ $
150 CD CD
million CD CD
for IN IN
the DT DT
third JJ JJ
quarter NN NN
. . .
<s>
He PRP PRP
added VBD VBD
, , ,
however RB RB
: : :
`` `` ``
Depending VBG VBG
on IN IN
the DT DT
resolution NN NN
of IN IN
certain JJ JJ
accounting NN NN
issues NNS NNS
relating VBG VBG
to TO TO
mortgages NNS NNS
servicing VBG NN
and CC CC
the DT DT
outcome NN NN
of IN IN
the DT DT
annual JJ JJ
examination NN NN
of IN IN
City NNP NNP
Federal NNP NNP
currently RB RB
in IN IN
progress NN NN
with IN IN
respect NN NN
to TO TO
the DT DT
appropriate JJ JJ
level NN NN
of IN IN
loan NN NN
loss NN NN
reserves NNS NNS
, , ,
the DT DT
total JJ JJ
loss NN NN
for IN IN
the DT DT
quarter NN NN
could MD MD
significantly RB RB
exceed VB VB
this DT DT
range NN NN
. . .
<s>
CenTrust NNP NNP
Savings NNP NNP
Bank NNP NNP
said VBD VBD
federal JJ JJ
thrift NN NN
regulators NNS NNS
ordered VBD VBD
it PRP PRP
to TO TO
suspend VB VB
dividend NN NN
payments NNS NNS
on IN IN
its PRP$ PRP$
two CD CD
classes NNS NNS
of IN IN
preferred VBN JJ
stock NN NN
, , ,
indicating VBG VBG
that IN IN
regulators NNS NNS
' POS POS
concerns NNS NNS
about IN IN
the DT DT
troubled JJ JJ
institution NN NN
have VBP VBP
heightened VBN VBN
. . .
<s>
In IN IN
a DT DT
statement NN NN
, , ,
Miami-based JJ JJ
CenTrust NNP NNP
said VBD VBD
the DT DT
regulators NNS NNS
cited VBD VBD
the DT DT
thrift NN NN
's POS POS
operating NN NN
losses NNS NNS
and CC CC
`` `` ``
apparent JJ JJ
losses NNS NNS
'' '' ''
in IN IN
its PRP$ PRP$
junk-bond NN NN
portfolio NN NN
in IN IN
ordering VBG VBG
the DT DT
suspension NN NN
of IN IN
the DT DT
dividends NNS NNS
. . .
<s>
Regulators NNS NNS
also RB RB
ordered VBD VBD
CenTrust NNP NNP
to TO TO
stop VB VB
buying VBG VBG
back RP RP
the DT DT
preferred JJ JJ
stock NN NN
. . .
<s>
David NNP NNP
L. NNP NNP
Paul NNP NNP
, , ,
chairman NN NN
and CC CC
chief JJ JJ
executive NN JJ
officer NN NN
, , ,
criticized VBD VBD
the DT DT
federal JJ JJ
Office NNP NNP
of IN IN
Thrift NNP NNP
Supervision NNP NNP
, , ,
which WDT WDT
issued VBD VBD
the DT DT
directive NN NN
, , ,
saying VBG VBG
it PRP PRP
was VBD VBD
`` `` ``
inappropriate JJ JJ
'' '' ''
and CC CC
based VBN VBN
on IN IN
`` `` ``
insufficient JJ JJ
'' '' ''
reasons NNS NNS
. . .
<s>
He PRP PRP
said VBD VBD
the DT DT
thrift NN NN
will MD MD
try VB VB
to TO TO
get VB VB
regulators NNS NNS
to TO TO
reverse VB VB
the DT DT
decision NN NN
. . .
<s>
The DT DT
suspension NN NN
of IN IN
a DT DT
preferred JJ JJ
stock NN NN
dividend NN NN
is VBZ VBZ
a DT DT
serious JJ JJ
step NN NN
that WDT WDT
signals VBZ VBZ
that WDT IN
regulators NNS NNS
have VBP VBP
deep JJ JJ
concerns NNS NNS
about IN IN
an DT DT
institution NN NN
's POS POS
health NN NN
. . .
<s>
In IN IN
March NNP NNP
, , ,
regulators NNS NNS
labeled VBD VBD
CenTrust NNP NNP
a DT DT
`` `` ``
troubled JJ JJ
institution NN NN
, , ,
'' '' ''
largely RB RB
because IN IN
of IN IN
its PRP$ PRP$
big JJ JJ
junk-bond NN NN
holdings NNS NNS
and CC CC
its PRP$ PRP$
operating NN NN
losses NNS NNS
. . .
<s>
In IN IN
the DT DT
same JJ JJ
month NN NN
, , ,
the DT DT
Office NNP NNP
of IN IN
Thrift NNP NNP
Supervision NNP NNP
ordered VBD VBD
the DT DT
institution NN NN
to TO TO
stop VB VB
paying VBG VBG
common JJ JJ
stock NN NN
dividends NNS NNS
until IN IN
its PRP$ PRP$
operations NNS NNS
were VBD VBD
on IN IN
track NN NN
. . .
<s>
For IN IN
the DT DT
nine CD CD
months NNS NNS
ended VBN VBD
June NNP NNP
30 CD CD
, , ,
CenTrust NNP NNP
had VBD VBD
a DT DT
net JJ JJ
loss NN NN
of IN IN
$ $ $
21.3 CD CD
million CD CD
, , ,
compared VBN VBN
with IN IN
year-earlier JJ JJ
net JJ JJ
income NN NN
of IN IN
$ $ $
52.8 CD CD
million CD CD
. . .
<s>
CenTrust NNP NNP
, , ,
which WDT WDT
is VBZ VBZ
Florida NNP NNP
's POS POS
largest JJS JJS
thrift NN NN
, , ,
holds VBZ VBZ
one CD CD
of IN IN
the DT DT
largest JJS JJS
junk-bond NN NN
portfolios NNS NNS
of IN IN
any DT DT
thrift NN NN
in IN IN
the DT DT
nation NN NN
. . .
<s>
Since IN IN
April NNP NNP
, , ,
it PRP PRP
has VBZ VBZ
pared VBN VBN
its PRP$ PRP$
high-yield JJ JJ
bond NN NN
holdings NNS NNS
to TO TO
about RB RB
$ $ $
890 CD CD
million CD CD
from IN IN
$ $ $
1.35 CD CD
billion CD CD
. . .
<s>
Mr. NNP NNP
Paul NNP NNP
said VBD VBD
only RB RB
about RB RB
$ $ $
150 CD CD
million CD CD
of IN IN
the DT DT
current JJ JJ
holdings NNS NNS
are VBP VBP
tradeable JJ JJ
securities NNS NNS
registered VBN VBN
with IN IN
the DT DT
Securities NNPS NNP
and CC CC
Exchange NNP NNP
Commission NNP NNP
. . .
<s>
The DT DT
remainder NN NN
, , ,
he PRP PRP
said VBD VBD
, , ,
are VBP VBP
commercial JJ JJ
loan NN NN
participations NNS NNS
, , ,
or CC CC
private JJ JJ
placements NNS NNS
, , ,
that WDT WDT
are VBP VBP
n't RB RB
filed VBN VBN
with IN IN
the DT DT
SEC NNP NNP
and CC CC
do VBP VBP
n't RB RB
have VB VB
a DT DT
ready JJ JJ
market NN NN
. . .
<s>
CenTrust NNP NNP
and CC CC
regulators NNS NNS
have VBP VBP
been VBN VBN
in IN IN
a DT DT
dispute NN NN
over IN IN
market NN NN
valuations NNS NNS
for IN IN
the DT DT
junk NN NN
bonds NNS NNS
. . .
<s>
The DT DT
Office NNP NNP
of IN IN
Thrift NNP NNP
Supervision NNP NNP
has VBZ VBZ
been VBN VBN
hounding VBG VBG
CenTrust NNP NNP
to TO TO
provide VB VB
current JJ JJ
market NN NN
values NNS NNS
for IN IN
its PRP$ PRP$
holdings NNS NNS
, , ,
but CC CC
CenTrust NNP NNP
has VBZ VBZ
said VBN VBD
it PRP PRP
ca MD MD
n't RB RB
easily RB RB
obtain VB VB
such JJ JJ
values NNS NNS
because IN IN
of IN IN
the DT DT
relative JJ JJ
illiquidity NN NN
of IN IN
the DT DT
bonds NNS NNS
and CC CC
lack NN NN
of IN IN
a DT DT
ready JJ JJ
market NN NN
. . .
<s>
Regulators NNS NNS
have VBP VBP
become VBN VBN
increasingly RB RB
antsy JJ JJ
about IN IN
CenTrust NNP NNP
's POS POS
and CC CC
other JJ JJ
thrifts NNS NNS
' POS POS
junk-bond NN NN
holdings NNS NNS
in IN IN
light NN NN
of IN IN
the DT DT
recent JJ JJ
federal JJ JJ
thrift NN NN
bailout NN NN
legislation NN NN
and CC CC
the DT DT
recent JJ JJ
deep JJ JJ
decline NN NN
in IN IN
the DT DT
junk-bond NN NN
market NN NN
. . .
<s>
The DT DT
legislation NN NN
requires VBZ VBZ
thrifts NNS NNS
to TO TO
divest VB VB
themselves PRP PRP
of IN IN
junk NN NN
bonds NNS NNS
in IN IN
the DT DT
new JJ JJ
, , ,
somber JJ JJ
regulatory JJ JJ
climate NN NN
. . .
<s>
In IN IN
American NNP NNP
Stock NNP NNP
Exchange NNP NNP
composite JJ JJ
trading NN NN
Friday NNP NNP
, , ,
CenTrust NNP NNP
common JJ JJ
shares NNS NNS
closed VBD VBD
at IN IN
$ $ $
3 CD CD
, , ,
down RB RB
12.5 CD CD
cents NNS NNS
. . .
<s>
In IN IN
a DT DT
statement NN NN
Friday NNP NNP
, , ,
Mr. NNP NNP
Paul NNP NNP
challenged VBD VBD
the DT DT
regulators NNS NNS
' POS POS
decision NN NN
, , ,
saying VBG VBG
the DT DT
thrift NN NN
's POS POS
operating NN NN
losses NNS NNS
and CC CC
`` `` ``
apparent JJ JJ
'' '' ''
junk-bond NN NN
losses NNS NNS
`` `` ``
have VBP VBP
been VBN VBN
substantially RB RB
offset VBN VBN
by IN IN
gains NNS NNS
in IN IN
other JJ JJ
activities NNS NNS
of IN IN
the DT DT
bank NN NN
. . .
<s>
'' '' ''
He PRP PRP
also RB RB
said VBD VBD
substantial JJ JJ
reserves NNS NNS
have VBP VBP
been VBN VBN
set VBN VBN
aside RB RP
for IN IN
possible JJ JJ
losses NNS NNS
from IN IN
the DT DT
junk NN NN
bonds NNS NNS
. . .
<s>
In IN IN
the DT DT
third JJ JJ
quarter NN NN
, , ,
for IN IN
instance NN NN
, , ,
CenTrust NNP NNP
added VBD VBD
$ $ $
22.5 CD CD
million CD CD
to TO TO
its PRP$ PRP$
general JJ JJ
reserves NNS NNS
. . .
<s>
Mr. NNP NNP
Paul NNP NNP
said VBD VBD
the DT DT
regulators NNS NNS
should MD MD
instead RB RB
move VB VB
ahead RB RB
with IN IN
approving VBG VBG
CenTrust NNP NNP
's POS POS
request NN NN
to TO TO
sell VB VB
63 CD CD
of IN IN
its PRP$ PRP$
71 CD CD
branches NNS NNS
to TO TO
Great NNP NNP
Western NNP NNP
Bank NNP NNP
, , ,
a DT DT
unit NN NN
of IN IN
Great NNP NNP
Western NNP NNP
Financial NNP NNP
Corp. NNP NNP
based VBN VBN
in IN IN
Beverly NNP NNP
Hills NNP NNP
, , ,
Calif NNP NNP
. . .
<s>
The DT DT
branch NN NN
sale NN NN
is VBZ VBZ
the DT DT
centerpiece NN NN
of IN IN
CenTrust NNP NNP
's POS POS
strategy NN NN
to TO TO
transform VB VB
itself PRP PRP
into IN IN
a DT DT
traditional JJ JJ
S&L NN NN
from IN IN
a DT DT
high-flying JJ JJ
institution NN NN
that WDT WDT
relied VBD VBD
heavily RB RB
on IN IN
securities NNS NNS
trading NN NN
for IN IN
profits NNS NNS
, , ,
according VBG VBG
to TO TO
Mr. NNP NNP
Paul NNP NNP
. . .
<s>
Most JJS JJS
analysts NNS NNS
and CC CC
thrift NN NN
executives NNS NNS
had VBD VBD
expected VBN VBN
a DT DT
decision NN NN
on IN IN
the DT DT
proposed VBN JJ
transaction NN NN
, , ,
which WDT WDT
was VBD VBD
announced VBN VBN
in IN IN
July NNP NNP
, , ,
long RB RB
before RB IN
now RB RB
. . .
<s>
Many JJ JJ
interpret VB VBP
the DT DT
delay NN NN
as IN IN
an DT DT
indication NN NN
that WDT IN
regulators NNS NNS
are VBP VBP
skeptical JJ JJ
about IN IN
the DT DT
proposal NN NN
. . .
<s>
Branches NNS NNS
and CC CC
deposits NNS NNS
can MD MD
be VB VB
sold VBN VBN
at IN IN
a DT DT
premium NN NN
in IN IN
the DT DT
event NN NN
federal JJ JJ
regulators NNS NNS
take VBP VBP
over RP RP
an DT DT
institution NN NN
. . .
<s>
CenTrust NNP NNP
, , ,
however RB RB
, , ,
touts VBZ VBZ
the DT DT
branch NN NN
sale NN NN
, , ,
saying VBG VBG
it PRP PRP
would MD MD
bring VB VB
in RP RP
$ $ $
150 CD CD
million CD CD
and CC CC
reduce VB VB
the DT DT
thrift NN NN
's POS POS
assets NNS NNS
to TO TO
$ $ $
6.7 CD CD
billion CD CD
from IN IN
$ $ $
9 CD CD
billion CD CD
. . .
<s>
It PRP PRP
said VBD VBD
the DT DT
sale NN NN
would MD MD
give VB VB
it PRP PRP
positive JJ JJ
tangible JJ JJ
capital NN NN
of IN IN
$ $ $
82 CD CD
million CD CD
, , ,
or CC CC
about IN RB
1.2 CD CD
% NN NN
of IN IN
assets NNS NNS
, , ,
from IN IN
a DT DT
negative JJ JJ
$ $ $
33 CD CD
million CD CD
as IN IN
of IN IN
Sept. NNP NNP
30 CD CD
, , ,
thus RB RB
bringing VBG VBG
CenTrust NNP NNP
close RB RB
to TO TO
regulatory JJ JJ
standards NNS NNS
. . .
<s>
CenTrust NNP NNP
said VBD VBD
the DT DT
branch NN NN
sale NN NN
would MD MD
also RB RB
reduce VB VB
the DT DT
company NN NN
's POS POS
large JJ JJ
amount NN NN
of IN IN
good JJ JJ
will NN NN
by IN IN
about RB RB
$ $ $
180 CD CD
million CD CD
. . .
<s>
Critics NNS NNS
, , ,
however RB RB
, , ,
say VBP VBP
the DT DT
branch NN NN
sale NN NN
will MD MD
make VB VB
CenTrust NNP NNP
more RBR RBR
dependent JJ JJ
than IN IN
ever RB RB
on IN IN
brokered JJ JJ
deposits NNS NNS
and CC CC
junk NN NN
bonds NNS NNS
. . .
<s>
Mr. NNP NNP
Paul NNP NNP
counters NNS NNS
that IN IN
he PRP PRP
intends VBZ VBZ
to TO TO
further VB RB
pare NN VB
the DT DT
size NN NN
of IN IN
CenTrust NNP NNP
by IN IN
not RB RB
renewing VBG VBG
more JJR JJR
than IN IN
$ $ $
1 CD CD
billion CD CD
of IN IN
brokered JJ JJ
certificates NNS NNS
of IN IN
deposit NN NN
when WRB WRB
they PRP PRP
come VBP VBP
due JJ JJ
. . .
<s>
The DT DT
thrift NN NN
is VBZ VBZ
also RB RB
working VBG VBG
to TO TO
unload VB VB
its PRP$ PRP$
junk-bond NN JJ
portfolio NN NN
by IN IN
continuing VBG VBG
to TO TO
sell VB VB
off RP RP
the DT DT
bonds NNS NNS
, , ,
and CC CC
it PRP PRP
plans VBZ VBZ
to TO TO
eventually RB RB
place VB VB
some DT DT
of IN IN
them PRP PRP
in IN IN
a DT DT
separate JJ JJ
affiliate NN NN
, , ,
as IN IN
required VBN VBN
under IN IN
the DT DT
new JJ JJ
thrift NN NN
law NN NN
. . .
<s>
On IN IN
a DT DT
recent JJ JJ
Saturday NNP NNP
night NN NN
, , ,
in IN IN
the DT DT
midst NN NN
of IN IN
West NNP NNP
Germany NNP NNP
's POS POS
most RBS JJS
popular JJ JJ
prime-time JJ NN
show NN NN
, , ,
a DT DT
contestant JJ NN
bet NN VBD
the DT DT
host NN NN
that IN IN
she PRP PRP
could MD MD
name VB VB
any DT DT
of IN IN
100 CD CD
different JJ JJ
cheeses NNS NNS
after IN IN
just RB RB
one CD CD
nibble NN NN
, , ,
while IN IN
blindfolded VBD JJ
. . .
<s>
The DT DT
woman NN NN
won VBD VBD
the DT DT
bet NN NN
. . .
<s>
But CC CC
perhaps RB RB
even RB RB
more RBR RBR
remarkable JJ JJ
, , ,
the DT DT
three-hour-show JJ NN
, , ,
`` `` ``
Wetten : FW
Dass : FW
'' '' ''
( ( (
Make VB NNP
a DT DT
Bet NNP NNP
) ) )
, , ,
regularly RB RB
wins VBZ VBZ
the DT DT
top JJ JJ
slot NN NN
in IN IN
the DT DT
country NN NN
's POS POS
TV NN NN
ratings NNS NNS
, , ,
sometimes RB RB
drawing VBG VBG
as RB RB
many JJ JJ
as IN IN
50 CD CD
% NN NN
of IN IN
West JJ JJ
German JJ JJ
households NNS NNS
. . .
<s>
As IN IN
the DT DT
1992 CD CD
economic JJ JJ
integration NN NN
approaches NNS NNS
, , ,
Europe NNP NNP
's POS POS
cultural JJ JJ
curators NNS NNS
have VBP VBP
taken VBN VBN
to TO TO
the DT DT
ramparts NNS NNS
against IN IN
American JJ JJ
`` `` ``
cultural JJ JJ
imperialism NN NN
, , ,
'' '' ''
threatening VBG VBG
to TO TO
impose VB VB
quotas NNS NNS
against IN IN
such JJ JJ
pop NN JJ
invaders NNS NNS
as IN IN
`` `` ``
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, , ,
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and CC CC
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Law NNP NNP
. . .
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'' '' ''
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much JJ JJ
of IN IN
what WP WP
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want VBP VBP
to TO TO
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every DT DT
bit NN NN
as RB RB
cheesy JJ JJ
as IN IN
what WP WP
they PRP PRP
are VBP VBP
trying VBG VBG
to TO TO
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out RP RP
. . .
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most RBS RBS
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to TO TO
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imports NNS NNS
has VBZ VBZ
come VBN VBN
from IN IN
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and CC CC
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producers NNS NNS
, , ,
who WP WP
have VBP VBP
demanded VBN VBN
quotas NNS NNS
ensuring VBG VBG
that IN IN
a DT DT
full JJ JJ
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% NN NN
of IN IN
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shows NNS NNS
be VB VB
produced VBN VBN
in IN IN
Europe NNP NNP
. . .
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far RB RB
, , ,
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have VBP VBP
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to TO TO
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support NN NN
to TO TO
prevail VB VB
. . .
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A DT DT
glance NN NN
through IN IN
the DT DT
television NN NN
listings NNS NNS
and CC CC
a DT DT
few JJ JJ
twists NNS NNS
of IN IN
the DT DT
European JJ JJ
television NN NN
dial NN NN
suggest VBP VBP
one CD CD
reason NN NN
why WRB WRB
. . .
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there EX EX
are VBP VBP
some DT DT
popular JJ JJ
action NN NN
and CC CC
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series NN NN
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boast NN VBP
the DT DT
high JJ JJ
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and CC CC
classy JJ JJ
production NN NN
values NNS VBZ
one PRP PRP
might MD MD
expect VB VB
. . .
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European JJ JJ
air NN NN
time NN NN
is VBZ VBZ
filled VBN VBN
with IN IN
low-budget JJ JJ
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shows NNS NNS
, , ,
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hours NNS NNS
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and CC CC
talk NN NN
shows NNS NNS
, , ,
many JJ JJ
of IN IN
which WDT WDT
are VBP VBP
authorized VBN VBN
knock-offs NNS JJ
of IN IN
their PRP$ PRP$
American JJ NNP
counterparts NNS NNS
. . .
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One CD CD
of IN IN
France NNP NNP
's POS POS
most RBS RBS
popular JJ JJ
Saturday NNP NNP
night NN NN
programs NNS NNS
features NNS VBZ
semi-celebrities NNS NNS
seeking VBG VBG
out RP RP
their PRP$ PRP$
grammar-school JJ NN
classmates NNS NNS
for IN IN
on-air JJ JJ
reunions NNS NNS
. . .
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A DT DT
Flemish JJ JJ
game NN NN
show NN NN
has VBZ VBZ
as IN RB
its PRP$ PRP$
host NN NN
a DT DT
Belgian JJ NNP
pretending NN VBG
to TO TO
be VB VB
Italian JJ JJ
. . .
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One CD CD
of IN IN
Italy NNP NNP
's POS POS
favorite NN JJ
shows VBZ NNS
, , ,
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, , ,
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tepid JJ JJ
variety NN NN
show NN NN
, , ,
is VBZ VBZ
so RB RB
popular JJ JJ
that IN IN
viewers NNS NNS
clamored VBD VBD
to TO TO
buy VB VB
a DT DT
chocolate JJ NN
product NN NN
, , ,
`` `` ``
Cacao NNP NNP
Fantastico NNP NNP
, , ,
'' '' ''
whose WP$ WP$
praises VBZ NNS
were VBD VBD
sung VBN VBN
each DT DT
week NN NN
by IN IN
dancing VBG VBG
showgirls NNS NNS
-- : :
even RB RB
though IN IN
the DT DT
product NN NN
did VBD VBD
n't RB RB
exist VB VB
. . .
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Topping VBG VBG
the DT DT
cheese NN NN
stunt NN NN
, , ,
on IN IN
another DT DT
typical JJ JJ
evening NN NN
of IN IN
fun NN NN
on IN IN
`` `` ``
Wetten NNP FW
Dass NNP FW
, , ,
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a DT DT
contestant JJ NN
won VBD VBD
a DT DT
bet NN NN
with IN IN
the DT DT
show NN NN
's POS POS
host NN NN
, , ,
Thomas NNP NNP
Gottschalk NNP NNP
, , ,
that IN IN
he PRP PRP
could MD MD
identify VB VB
300 CD CD
German JJ JJ
dialects NNS NNS
over IN IN
the DT DT
telephone NN NN
. . .
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A DT DT
celebrity NN NN
guest NN NN
, , ,
U.S. NNP NNP
Ambassador NNP NNP
to TO TO
West NNP NNP
Germany NNP NNP
Richard NNP NNP
Burt NNP NNP
, , ,
also RB RB
won VBD VBD
a DT DT
bet NN NN
that IN IN
someone NN NN
could MD MD
pile VB VB
up RP RP
$ $ $
150 CD CD
worth NN NN
of IN IN
quarters NNS NNS
on IN IN
a DT DT
slanted JJ JJ
coin NN NN
. . .
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Mr. NNP NNP
Burt NNP NNP
nonetheless RB RB
paid VBD VBD
the DT DT
penalty NN NN
as IN IN
if IN IN
he PRP PRP
had VBD VBD
lost VBN VBN
, , ,
agreeing VBG VBG
to TO TO
spend VB VB
a DT DT
day NN NN
with IN IN
West JJ NNP
German NNP NNP
Foreign NNP NNP
Minister NNP NNP
Hans-Dietrich NNP NNP
Genscher NNP NNP
frying : VBG
and CC CC
selling VBG VBG
their PRP$ PRP$
combined VBN JJ
weight NN NN
in IN IN
potato NN NN
pancakes : NNS
. . .
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If IN IN
this DT DT
seems VBZ VBZ
like IN IN
pretty RB RB
weak JJ JJ
stuff NN NN
around IN IN
which WDT WDT
to TO TO
raise VB VB
the DT DT
protectionist JJ JJ
barriers NNS NNS
, , ,
it PRP PRP
may MD MD
be VB VB
because IN IN
these DT DT
shows NNS NNS
need VBP VBP
all PDT PDT
the DT DT
protection NN NN
they PRP PRP
can MD MD
get VB VB
. . .
<s>
European JJ JJ
programs NNS NNS
usually RB RB
target VBP VBP
only RB RB
their PRP$ PRP$
own JJ JJ
local JJ JJ
audience NN NN
, , ,
and CC CC
often RB RB
only RB RB
a DT DT
small JJ JJ
portion NN NN
of IN IN
that DT DT
. . .
<s>
Mega-hits NNS NNS
in IN IN
Germany NNP NNP
or CC CC
Italy NNP NNP
rarely RB RB
make VBP VBP
it PRP PRP
even RB RB
to TO TO
France NNP NNP
or CC CC
Great NNP NNP
Britain NNP NNP
, , ,
and CC CC
almost RB RB
never RB RB
show VB VBP
up RP RP
on IN IN
U.S. NNP NNP
screens NNS NNS
. . .
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Attempts NNS NNS
to TO TO
produce VB VB
`` `` ``
pan-European JJ JJ
'' '' ''
programs NNS NNS
have VBP VBP
generally RB RB
resulted VBN VBN
in IN IN
disappointment NN NN
. . .
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annual JJ JJ
co-production NN NN
, , ,
the DT DT
three-hour-long JJ JJ
`` `` ``
Eurovision : NNP
Song NN NNP
Contest : NNP
, , ,
'' '' ''
featuring VBG VBG
soft-rock JJ JJ
songs NNS NNS
from IN IN
each DT DT
of IN IN
20 CD CD
European JJ JJ
countries NNS NNS
, , ,
has VBZ VBZ
been VBN VBN
described VBN VBN
as IN IN
the DT DT
world NN NN
's VBZ VBZ
most RBS RBS
boring JJ JJ
TV NN NN
show NN NN
. . .
<s>
Another DT DT
, , ,
`` `` ``
Jeux : FW
Sans : FW
Frontieres : FW
, , ,
'' '' ''
where WRB WRB
villagers NNS NNS
from IN IN
assorted JJ JJ
European JJ JJ
countries NNS NNS
make VBP VBP
fools NNS NNS
of IN IN
themselves PRP PRP
performing VBG VBG
pointless JJ JJ
tasks NNS NNS
, , ,
is VBZ VBZ
a DT DT
hit NN NN
in IN IN
France NNP NNP
. . .
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A DT DT
U.S.-made JJ JJ
imitation NN NN
under IN IN
the DT DT
title NN NN
`` `` ``
Almost RB NNP
Anything NN NNP
Goes VBZ NNP
'' '' ''
flopped VBD VBD
fast RB RB
. . .
<s>
For IN IN
the DT DT
most JJS JJS
part NN NN
, , ,
what WP WP
's VBZ VBZ
made VBN VBN
here RB RB
stays VBZ VBZ
here RB RB
, , ,
and CC CC
for IN IN
good JJ JJ
reason NN NN
. . .
<s>
The DT DT
cream NN NN
of IN IN
the DT DT
British JJ JJ
crop NN NN
, , ,
the DT DT
literary JJ JJ
dramas NN NN
that WDT WDT
are VBP VBP
shown VBN VBN
on IN IN
U.S. NNP NNP
public JJ JJ
television NN NN
as IN IN
`` `` ``
Masterpiece NNP NNP
Theater NNP NNP
, , ,
'' '' ''
make VB VBP
up RP RP
a DT DT
relatively RB RB
small JJ JJ
part NN NN
of IN IN
British JJ JJ
air NN NN
time NN NN
. . .
<s>
Most JJS JJS
British JJ JJ
programming NN NN
is VBZ VBZ
more JJR JJR
of IN IN
an DT DT
acquired VBN JJ
taste NN NN
. . .
<s>
There EX EX
is VBZ VBZ
, , ,
for IN IN
instance NN NN
, , ,
`` `` ``
One CD CD
Man NN NN
and CC CC
His PRP$ PRP$
Dog NNP NNP
, , ,
'' '' ''
a DT DT
herding : NN
contest NN NN
among IN IN
sheep NN NN
dogs NNS NNS
. . .
<s>
Also RB RB
riveting JJ JJ
to TO TO
the DT DT
British NNPS NNPS
are VBP VBP
hours NNS NNS
of IN IN
dart-throwing JJ NN
championships NNS NNS
, , ,
even RB RB
more JJR JJR
hours NNS NNS
of IN IN
lawn NN NN
bowling NN NN
contests NNS NNS
and CC CC
still RB RB
more JJR JJR
hours NNS NNS
of IN IN
snooker : NN
marathons NNS NNS
. . .
<s>
European JJ JJ
drama NN NN
has VBZ VBZ
had VBN VBN
better JJR JJR
, , ,
though IN IN
still RB RB
mixed VBN JJ
, , ,
fortunes NNS NNS
. . .
<s>
The DT DT
most RBS RBS
popular JJ JJ
such JJ JJ
shows NNS NNS
focus VBP VBP
on IN IN
narrow JJ JJ
national JJ JJ
concerns NNS NNS
. . .
<s>
A DT DT
French JJ JJ
knock-off NN NN
of IN IN
`` `` ``
Dallas NNP NNP
, , ,
'' '' ''
called VBN VBN
`` `` ``
Chateauvallon NNP NNP
'' '' ''
and CC CC
set VBD VBN
in IN IN
a DT DT
French JJ JJ
vineyard NN NN
, , ,
had VBD VBD
a DT DT
good JJ JJ
run NN NN
in IN IN
France NNP NNP
, , ,
which WDT WDT
ended VBD VBD
after IN IN
the DT DT
female JJ JJ
lead NN NN
was VBD VBD
injured VBN VBN
in IN IN
a DT DT
real-life JJ JJ
auto NN NN
accident NN NN
. . .
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`` `` ``
Schwarzwaldklinik NNP NNP
, , ,
'' '' ''
( ( (
Black NNP NNP
Forest NNP NNP
Clinic NNP NNP
) ) )
, , ,
a DT DT
kind NN NN
of IN IN
German JJ NNP
`` `` ``
St NNP NNP
. . .
<s>
Elsewhere RB NNP
'' '' ''
set VBN VBN
in IN IN
a DT DT
health NN NN
spa NN NN
, , ,
is VBZ VBZ
popular JJ JJ
in IN IN
Germany NNP NNP
, , ,
and CC CC
has VBZ VBZ
spread VBN VBN
into IN IN
France NNP NNP
. . .
<s>
Italy NNP NNP
's POS POS
most RBS RBS
popular JJ JJ
series NN NN
is VBZ VBZ
a DT DT
drama NN NN
called VBN VBN
`` `` ``
La NNP FW
Piovra NNP FW
, , ,
'' '' ''
or CC CC
`` `` ``
The DT NNP
Octopus NNP NNP
, , ,
'' '' ''
which WDT WDT
chronicles VBZ VBZ
the DT DT
fight NN NN
of IN IN
an DT DT
idealistic JJ JJ
young JJ JJ
investigator NN NN
in IN IN
Palermo NNP NNP
against IN IN
the DT DT
Mafia NNP NNP
. . .
<s>
It PRP PRP
was VBD VBD
front-page : JJ
news NN NN
in IN IN
Italy NNP NNP
earlier RBR RBR
this DT DT
year NN NN
when WRB WRB
the DT DT
fictional JJ JJ
inspector NN NN
was VBD VBD
gunned VBN VBN
down RP RP
in IN IN
the DT DT
series NN NN
. . .
<s>
Spain NNP NNP
's POS POS
most RBS RBS
popular JJ JJ
mini-series NNS NN
this DT DT
year NN NN
was VBD VBD
`` `` ``
Juncal NNP NNP
, , ,
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the DT DT
story NN NN
of IN IN
an DT DT
aging VBG VBG
bullfighter NN NN
. . .
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`` `` ``
The DT DT
trend NN NN
is VBZ VBZ
pretty RB RB
well RB RB
established VBN VBN
now RB RB
that IN IN
local JJ JJ
programs NNS NNS
are VBP VBP
the DT DT
most RBS RBS
popular JJ JJ
, , ,
with IN IN
American JJ JJ
programs NNS NNS
second JJ JJ
, , ,
'' '' ''
says VBZ VBZ
Brian NNP NNP
Wenham NNP NNP
, , ,
a DT DT
former JJ JJ
director NN NN
of IN IN
programs NNS NNS
for IN IN
the DT DT
British NNP NNP
Broadcasting NNP NNP
Corp NNP NNP
. . .
<s>
`` `` ``
Given VBN VBN
a DT DT
choice NN NN
, , ,
everybody NN NN
will MD MD
watch VB VB
a DT DT
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show NN NN
. . .
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'' '' ''
But CC CC
frequently RB RB
there EX EX
is VBZ VBZ
n't RB RB
much JJ JJ
choice NN JJ
. . .
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Thus RB RB
, , ,
Europe NNP NNP
has VBZ VBZ
begun VBN VBN
the DT DT
recent JJ JJ
crusade NN NN
to TO TO
produce VB VB
more JJR JJR
worthy JJ JJ
shows NNS NNS
of IN IN
its PRP$ PRP$
own JJ JJ
, , ,
programs NNS NNS
with IN IN
broader JJR JJR
appeal NN NN
. . .
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`` `` ``
We PRP PRP
've VBP VBP
basically RB RB
got VBN VBD
to TO TO
start VB VB
from IN IN
scratch NN NN
, , ,
to TO TO
train VB VB
writers NNS NNS
and CC CC
producers NNS NNS
to TO TO
make VB VB
shows NNS VBZ
that IN IN
other JJ JJ
people NNS NNS
will MD MD
want VB VB
to TO TO
see VB VB
, , ,
'' '' ''
concedes VBZ VBZ
Colin NNP NNP
Young NNP NNP
, , ,
head NN NN
of IN IN
Britain NNP NNP
's POS POS
National NNP NNP
Film NNP NNP
Theatre NNP NNP
School NNP NNP
. . .
<s>
While IN IN
some DT DT
in IN IN
the DT DT
U.S. NNP NNP
contend VBP VBP
that IN DT
advertising NN NN
is VBZ VBZ
the DT DT
bane NN NN
of IN IN
television NN NN
, , ,
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many JJ JJ
believe VBP VBP
that IN DT
its PRP$ PRP$
absence NN NN
is VBZ VBZ
to TO TO
blame VB VB
for IN IN
the DT DT
European JJ JJ
TV NN NN
industry NN NN
's POS POS
sluggish JJ JJ
development NN NN
. . .
<s>
Until IN IN
recently RB RB
, , ,
national JJ JJ
governments NNS NNS
in IN IN
Europe NNP NNP
controlled VBD VBD
most JJS JJS
of IN IN
the DT DT
air NN NN
time NN NN
and CC CC
allowed VBD VBD
little JJ JJ
or CC CC
no DT DT
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. . .
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Since IN IN
production NN NN
costs NNS NNS
were VBD VBD
guaranteed VBN VBN
, , ,
it PRP PRP
did VBD VBD
n't RB RB
matter VB NN
that IN IN
a DT DT
program NN NN
could MD MD
n't RB RB
be VB VB
sold VBN VBN
abroad RB RB
or CC CC
put VBN VB
into IN IN
syndication NN NN
, , ,
as IN IN
most JJS JJS
American JJ JJ
programs NNS NNS
are VBP VBP
. . .
<s>
But CC CC
not RB RB
much JJ JJ
money NN NN
was VBD VBD
spent VBN VBN
on IN IN
the DT DT
shows NNS NNS
, , ,
either RB RB
, , ,
a DT DT
situation NN NN
that WDT WDT
encouraged VBD VBD
cheap-to-make JJ JJ
talk NN NN
and CC CC
game NN NN
shows NNS NNS
, , ,
while IN IN
discouraging VBG VBG
expensive-to-produce JJ JJ
dramas NN NN
. . .
<s>
Now RB RB
, , ,
however RB RB
, , ,
commercial JJ JJ
channels NNS NNS
are VBP VBP
coming VBG VBG
to TO TO
most JJS JJS
European JJ JJ
countries NNS NNS
, , ,
and CC CC
at IN IN
the DT DT
same JJ JJ
time NN NN
, , ,
satellite NN NN
and CC CC
cable NN NN
technology NN NN
is VBZ VBZ
spreading VBG VBG
rapidly RB RB
. . .
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Just RB RB
last JJ JJ
week NN NN
, , ,
Greece NNP NNP
authorized VBD VBD
two CD CD
commercial JJ JJ
channels NNS NNS
for IN IN
the DT DT
first JJ JJ
time NN NN
; : :
Spain NNP NNP
earlier RBR RBR
began VBD VBD
to TO TO
allow VB VB
commercial JJ JJ
television NN NN
alongside IN IN
its PRP$ PRP$
state NN NN
channels NNS NNS
. . .
<s>
The DT DT
result NN NN
is VBZ VBZ
a DT DT
new JJ JJ
and CC CC
huge JJ JJ
appetite NN NN
for IN IN
programming NN NN
. . .
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But CC CC
perhaps RB RB
to TO TO
the DT DT
consternation NN NN
of IN IN
those DT DT
calling VBG VBG
for IN IN
quotas NNS NNS
, , ,
most JJS JJS
of IN IN
this DT DT
void NN NN
is VBZ VBZ
likely JJ JJ
to TO TO
be VB VB
filled VBN VBN
with IN IN
the DT DT
cheapest JJS JJS
and CC CC
most RBS RBS
plentiful JJ JJ
programming NN NN
now RB RB
available JJ JJ
-- : :
reruns NNS NNS
-- : :
usually RB RB
of IN IN
shows NNS NNS
made VBN VBN
in IN IN
the DT DT
U.S. NNP NNP
. . .
<s>
Sky NNP NNP
Channel NNP NNP
, , ,
a DT DT
British-based JJ JJ
venture NN NN
of IN IN
Australian-American NNP JJ
press NN NN
tycoon NN NN
Rupert NNP NNP
Murdoch NNP NNP
, , ,
offers VBZ VBZ
what WP WP
must MD MD
be VB VB
a DT DT
baffling : JJ
cultural JJ JJ
mix NN NN
to TO TO
most JJS JJS
of IN IN
its PRP$ PRP$
audience NN NN
. . .
<s>
The DT DT
financially RB RB
struggling VBG VBG
station NN NN
offers VBZ VBZ
programs NNS NNS
obviously RB RB
made VBN VBN
available JJ JJ
cheaply RB RB
from IN IN
its PRP$ PRP$
boss NN NN
's POS POS
other JJ JJ
ventures NNS NNS
. . .
<s>
In IN IN
a DT DT
Madrid NNP NNP
hotel NN NN
room NN NN
recently RB RB
, , ,
a DT DT
viewer NN NN
caught VBD VBD
the DT DT
end NN NN
of IN IN
a DT DT
badly RB RB
acted VBN VBN
series NN NN
about IN IN
a DT DT
fishing NN NN
boat NN NN
on IN IN
Australia NNP NNP
's POS POS
Great NNP NNP
Barrier NNP NNP
Reef NNP NNP
, , ,
only RB RB
to TO TO
be VB VB
urged VBN VBN
by IN IN
the DT DT
British JJ JJ
announcer NN NN
to TO TO
`` `` ``
stay VB VB
tuned VBN VBN
for IN IN
the DT DT
further JJ JJ
adventures NNS NNS
of IN IN
Skippy : NNP
the DT DT
Kangaroo NNP NNP
. . .
<s>
'' '' ''
Lisa NNP NNP
Grishaw-Mueller NNP NNP
in IN IN
Bonn NNP NNP
, , ,
Laura NNP NNP
Colby NNP NNP
in IN IN
Milan NNP NNP
, , ,
Tim NNP NNP
Carrington NNP NNP
in IN IN
London NNP NNP
and CC CC
Carlta NNP NNP
Vitzhum NNP NNP
in IN IN
Madrid NNP NNP
contributed VBD VBD
to TO TO
this DT DT
article NN NN
. . .
<s>
British NNP NNP
Aerospace NNP NNP
PLC NNP NNP
and CC CC
France NNP NNP
's POS POS
Thomson-CSF NNP NNP
S.A. NNP NNP
said VBD VBD
they PRP PRP
are VBP VBP
nearing VBG VBG
an DT DT
agreement NN NN
to TO TO
merge VB VB
their PRP$ PRP$
guided-missile JJ NN
divisions NNS NNS
, , ,
greatly RB RB
expanding VBG VBG
collaboration NN NN
between IN IN
the DT DT
two CD CD
defense NN NN
contractors NNS NNS
. . .
<s>
The DT DT
50-50 CD JJ
joint JJ JJ
venture NN NN
, , ,
which WDT WDT
may MD MD
be VB VB
dubbed VBN VBN
Eurodynamics NNS NNPS
, , ,
would MD MD
have VB VB
combined VBN JJ
annual JJ JJ
sales NNS NNS
of IN IN
at IN IN
least JJS JJS
# # #
1.4 CD CD
billion CD CD
( ( (
$ $ $
2.17 CD CD
billion CD CD
) ) )
and CC CC
would MD MD
be VB VB
among IN IN
the DT DT
world NN NN
's POS POS
largest JJS JJS
missile NN NN
makers NNS NNS
. . .
<s>
After IN IN
two CD CD
years NNS NNS
of IN IN
talks NNS NNS
, , ,
plans NNS NNS
for IN IN
the DT DT
venture NN NN
are VBP VBP
sufficiently RB RB
advanced VBN JJ
for IN IN
the DT DT
companies NNS NNS
to TO TO
seek VB VB
French JJ JJ
and CC CC
British JJ JJ
government NN NN
clearance NN NN
. . .
<s>
The DT DT
companies NNS NNS
hope VBP VBP
for IN IN
a DT DT
final JJ JJ
agreement NN NN
by IN IN
year-end NN NN
. . .
<s>
The DT DT
venture NN NN
would MD MD
strengthen VB VB
the DT DT
rapidly RB RB
growing VBG VBG
ties NNS NNS
between IN IN
the DT DT
two CD CD
companies NNS NNS
, , ,
and CC CC
help VB VB
make VB VB
them PRP PRP
a DT DT
leading VBG JJ
force NN NN
in IN IN
European JJ JJ
defense NN NN
contracting NN NN
. . .
<s>
In IN IN
recent JJ JJ
months NNS NNS
, , ,
a DT DT
string NN NN
of IN IN
cross-border JJ JJ
mergers NNS NNS
and CC CC
joint JJ JJ
ventures NNS NNS
have VBP VBP
reshaped VBN VBN
the DT DT
once-balkanized JJ JJ
world NN NN
of IN IN
European JJ JJ
arms NNS NNS
manufacture NN NN
. . .
<s>
Already RB RB
, , ,
British NNP NNP
Aerospace NNP NNP
and CC CC
French NNP JJ
government-controlled JJ JJ
Thomson-CSF NNP NNP
collaborate VB VBP
on IN IN
a DT DT
British JJ JJ
missile NN NN
contract NN NN
and CC CC
on IN IN
an DT DT
air-traffic NN NN
control NN NN
radar NN NN
system NN NN
. . .
<s>
Just RB RB
last JJ JJ
week NN NN
they PRP PRP
announced VBD VBD
they PRP PRP
may MD MD
make VB VB
a DT DT
joint JJ JJ
bid NN NN
to TO TO
buy VB VB
Ferranti NNP NNP
International NNP NNP
Signal NNP NNP
PLC NNP NNP
, , ,
a DT DT
smaller JJR JJR
British JJ JJ
defense NN NN
contractor NN NN
rocked VBN VBN
by IN IN
alleged JJ JJ
accounting NN NN
fraud NN NN
at IN IN
a DT DT
U.S. NNP NNP
unit NN NN
. . .
<s>
The DT DT
sudden JJ JJ
romance NN NN
of IN IN
British NNP NNP
Aerospace NNP NNP
and CC CC
Thomson-CSF NNP NNP
-- : :
traditionally RB RB
bitter JJ JJ
competitors NNS NNS
for IN IN
Middle NNP NNP
East NNP NNP
and CC CC
Third NNP NNP
World NNP NNP
weapons NNS NNS
contracts NNS NNS
-- : :
is VBZ VBZ
stirring VBG VBG
controversy NN NN
in IN IN
Western NNP NNP
Europe NNP NNP
's POS POS
defense NN NN
industry NN NN
. . .
<s>
Most RBS RBS
threatened VBN VBN
by IN IN
closer JJR JJR
British JJ NNP
Aerospace-Thomson : NNP
ties NNS NNS
would MD MD
be VB VB
their PRP$ PRP$
respective JJ JJ
national JJ JJ
rivals NNS NNS
, , ,
including VBG VBG
Matra NNP NNP
S.A. NNP NNP
in IN IN
France NNP NNP
and CC CC
Britain NNP NNP
's POS POS
General NNP NNP
Electric NNP NNP
Co. NNP NNP
PLC NNP NNP
. . .
<s>
But CC CC
neither DT CC
Matra NNP NNP
nor CC CC
GEC NNP NNP
-- : :
unrelated JJ JJ
to TO TO
Stamford NNP NNP
, , ,
Conn.-based JJ JJ
General NNP NNP
Electric NNP NNP
Co. NNP NNP
-- : :
are VBP VBP
sitting VBG VBG
quietly RB RB
by IN RB
as IN RB
their PRP$ PRP$
competitors NNS NNS
join VBP VBP
forces NNS NNS
. . .
<s>
Yesterday NN NN
, , ,
a DT DT
source NN NN
close RB RB
to TO TO
GEC NNP NNP
confirmed VBD VBD
that IN IN
his PRP$ PRP$
company NN NN
may MD MD
join VB VB
the DT DT
Ferranti NNP NNP
fight NN NN
, , ,
as IN IN
part NN NN
of IN IN
a DT DT
possible JJ JJ
consortium NN NN
that WDT WDT
would MD MD
bid VB VB
against IN IN
British NNP NNP
Aerospace NNP NNP
and CC CC
Thomson-CSF NNP NNP
. . .
<s>
Companies NNS NNS
with IN IN
which WDT WDT
GEC NNP NNP
has VBZ VBZ
had VBN VBD
talks NNS NNS
about IN IN
a DT DT
possible JJ JJ
joint JJ JJ
Ferranti NNP NNP
bid NN NN
include VBP VBP
Matra NNP NNP
, , ,
Britain NNP NNP
's POS POS
Dowty NNP NNP
Group NNP NNP
PLC NNP NNP
, , ,
West NNP NNP
Germany NNP NNP
's POS POS
Daimler-Benz NNP NNP
AG NNP NNP
, , ,
and CC CC
France NNP NNP
's POS POS
Dassault NNP NNP
group NN NN
. . .
<s>
But CC CC
it PRP PRP
may MD MD
be VB VB
weeks NNS NNS
before IN IN
GEC NNP NNP
and CC CC
its PRP$ PRP$
potential JJ JJ
partners NNS NNS
decide VBP VBP
whether IN IN
to TO TO
bid VB VB
, , ,
the DT DT
source NN NN
indicated VBD VBD
. . .
<s>
GEC NNP NNP
plans VBZ VBZ
first JJ RB
to TO TO
study VB VB
Ferranti NNP NNP
's POS POS
financial JJ JJ
accounts NNS NNS
, , ,
which WDT WDT
auditors NNS NNS
recently RB RB
said VBD VBD
included VBN VBD
# # #
215 CD CD
million CD CD
in IN IN
fictitious JJ JJ
contracts NNS NNS
at IN IN
a DT DT
U.S. NNP NNP
unit NN NN
, , ,
International NNP NNP
Signal NNP NNP
& CC CC
Control NNP NNP
Group NNP NNP
, , ,
with IN IN
which WDT WDT
Ferranti NNP NNP
merged VBD VBD
last JJ JJ
year NN NN
. . .
<s>
Also RB RB
, , ,
any DT DT
GEC NNP NNP
bid NN NN
might MD MD
be VB VB
blocked VBN VBN
by IN IN
British JJ JJ
antitrust JJ JJ
regulators NNS NNS
; : :
Ferranti NNP NNP
is VBZ VBZ
GEC NNP NNP
's POS POS
main JJ JJ
competitor NN NN
on IN IN
several JJ JJ
key JJ JJ
defense-electronics NNS JJ
contracts NNS NNS
, , ,
and CC CC
its PRP$ PRP$
purchase NN NN
by IN IN
GEC NNP NNP
may MD MD
heighten VB VB
British JJ NNP
Defense NNP NNP
Ministry NNP NNP
worries NNS NNS
about IN IN
concentration NN NN
in IN IN
the DT DT
country NN NN
's POS POS
defense NN NN
industry NN NN
. . .
<s>
A DT DT
consortium NN NN
bid NN NN
, , ,
however RB RB
, , ,
would MD MD
diminish VB VB
GEC NNP NNP
's POS POS
direct JJ JJ
role NN NN
in IN IN
Ferranti NNP NNP
and CC CC
might MD MD
consequently RB RB
appease VB VB
ministry NN NN
officials NNS NNS
. . .
<s>
A DT DT
British NNP NNP
Aerospace NNP NNP
spokeswoman NN NN
appeared VBD VBD
unperturbed JJ JJ
by IN IN
the DT DT
prospect NN NN
of IN IN
a DT DT
fight NN NN
with IN IN
GEC NNP NNP
for IN IN
Ferranti NNP NNP
: : :
`` `` ``
Competition NN NN
is VBZ VBZ
the DT DT
name NN NN
of IN IN
the DT DT
game NN NN
, , ,
'' '' ''
she PRP PRP
said VBD VBD
. . .
<s>
At IN IN
least JJS JJS
one CD CD
potential JJ JJ
GEC NNP NNP
partner NN NN
, , ,
Matra NNP NNP
, , ,
insists VBZ VBZ
it PRP PRP
is VBZ VBZ
n't RB RB
interested JJ JJ
in IN IN
Ferranti NNP NNP
. . .
<s>
`` `` ``
We PRP PRP
have VBP VBP
nothing NN NN
to TO TO
say VB VB
about IN IN
this DT DT
affair NN NN
, , ,
which WDT WDT
does VBZ VBZ
n't RB RB
concern VB VB
us PRP PRP
, , ,
'' '' ''
a DT DT
Matra NNP NNP
official NN NN
said VBD VBD
Sunday NNP NNP
. . .
<s>
The DT DT
missile NN NN
venture NN NN
, , ,
the DT DT
British NNP NNP
Aerospace NNP NNP
spokeswoman NN NN
said VBD VBD
, , ,
is VBZ VBZ
a DT DT
needed VBN JJ
response NN NN
to TO TO
the DT DT
`` `` ``
new JJ JJ
environment NN NN
'' '' ''
in IN IN
defense NN NN
contracting NN NN
. . .
<s>
For IN IN
both DT DT
Thomson NNP NNP
and CC CC
British NNP NNP
Aerospace NNP NNP
, , ,
earnings NNS NNS
in IN IN
their PRP$ PRP$
home NN NN
markets NNS NNS
have VBP VBP
come VBN VBN
under IN IN
pressure NN NN
from IN IN
increasingly RB RB
tight-fisted JJ JJ
defense NN NN
ministries NNS NNS
; : :
and CC CC
Middle NNP NNP
East NNP NNP
sales NNS NNS
, , ,
a DT DT
traditional JJ JJ
mainstay NN NN
for IN IN
both DT DT
companies NNS NNS
' POS POS
exports NNS NNS
, , ,
have VBP VBP
been VBN VBN
hurt VBN VBN
by IN IN
five CD CD
years NNS NNS
of IN IN
weak JJ JJ
oil NN NN
prices NNS NNS
. . .
<s>
The DT DT
venture NN NN
's POS POS
importance NN NN
for IN IN
Thomson NNP NNP
is VBZ VBZ
great JJ JJ
. . .
<s>
Thomson NNP NNP
feels VBZ VBZ
the DT DT
future NN NN
of IN IN
its PRP$ PRP$
defense NN NN
business NN NN
depends VBZ VBZ
on IN IN
building VBG VBG
cooperation NN NN
with IN IN
other JJ JJ
Europeans NNPS NNPS
. . .
<s>
The DT DT
European JJ JJ
defense NN NN
industry NN NN
is VBZ VBZ
consolidating VBG VBG
; : :
for IN IN
instance NN NN
, , ,
West NNP NNP
Germany NNP NNP
's POS POS
Siemens NNP NNP
AG NNP NNP
recently RB RB
joined VBD VBD
GEC NNP NNP
in IN IN
a DT DT
takeover NN NN
of IN IN
Britain NNP NNP
's POS POS
Plessey NNP NNP
Co. NNP NNP
, , ,
and CC CC
Daimler-Benz NNP NNP
agreed VBD VBD
to TO TO
buy VB VB
Messerschmitt-Boelkow NNP NNP
Blohm NNP NNP
G.m.b NNP NNP
. . .
<s>
H NNP NNP
. . .
<s>
In IN IN
missiles NNS NNS
, , ,
Thomson NNP NNP
is VBZ VBZ
already RB RB
overshadowed VBN VBN
by IN IN
British NNP NNP
Aerospace NNP NNP
and CC CC
by IN IN
its PRP$ PRP$
home NN NN
rival NN NN
, , ,
France NNP NNP
's POS POS
Aerospatiale NNP NNP
S.A. NNP NNP
; : :
to TO TO
better RBR RBR
compete VB VB
, , ,
Thomson NNP NNP
officials NNS NNS
say VBP VBP
, , ,
they PRP PRP
need VBP VBP
a DT DT
partnership NN NN
. . .
<s>
To TO TO
justify VB VB
50-50 CD JJ
ownership NN NN
of IN IN
the DT DT
planned VBN JJ
venture NN NN
, , ,
Thomson NNP NNP
would MD MD
make VB VB
a DT DT
cash NN NN
payment NN NN
to TO TO
British NNP NNP
Aerospace NNP NNP
. . .
<s>
Annual JJ JJ
revenue NN NN
of IN IN
British NNP NNP
Aerospace NNP NNP
's POS POS
missile NN NN
business NN NN
is VBZ VBZ
about IN RB
# # #
950 CD CD
million CD CD
, , ,
a DT DT
Thomson NNP NNP
spokesman NN NN
said VBD VBD
. . .
<s>
British NNP NNP
Aerospace NNP NNP
's POS POS
chief JJ JJ
missile NN NN
products NNS NNS
include VBP VBP
its PRP$ PRP$
17-year-old JJ JJ
family NN NN
of IN IN
Rapier NNP NN
surface-to-air JJ JJ
missiles NNS NNS
. . .
<s>
Thomson NNP NNP
missile NN NN
products NNS NNS
, , ,
with IN IN
about IN RB
half JJ PDT
British NNP NNP
Aerospace NNP NNP
's POS POS
annual JJ JJ
revenue NN NN
, , ,
include VBP VBP
the DT DT
Crotale NNP JJ
surface-to-air JJ JJ
missile NN NN
family NN NN
. . .
<s>
Interprovincial NNP NNP
Pipe NNP NNP
Line NNP NNP
Co. NNP NNP
said VBD VBD
it PRP PRP
will MD MD
delay VB VB
a DT DT
proposed VBN VBN
two-step JJ JJ
, , ,
830 CD CD
million CD CD
Canadian-dollar NNP JJ
( ( (
US$ $ $
705.6 CD CD
million CD CD
) ) )
expansion NN NN
of IN IN
its PRP$ PRP$
system NN NN
because IN IN
Canada NNP NNP
's POS POS
output NN NN
of IN IN
crude JJ JJ
oil NN NN
is VBZ VBZ
shrinking VBG VBG
. . .
<s>
Interprovincial NNP NNP
, , ,
Canada NNP NNP
's POS POS
biggest JJS JJS
oil NN NN
pipeline NN NN
operator NN NN
and CC CC
a DT DT
major JJ JJ
transporter NN NN
of IN IN
crude NN NN
to TO TO
the DT DT
U.S. NNP NNP
, , ,
said VBD VBD
revised VBN VBN
industry NN NN
forecasts NNS NNS
indicate VBP VBP
that IN IN
Canadian JJ JJ
oil NN NN
output NN NN
will MD MD
total VB VB
about RB RB
1.64 CD CD
million CD CD
barrels NNS NNS
a DT DT
day NN NN
by IN IN
1991 CD CD
, , ,
8 CD CD
% NN NN
lower JJR JJR
than IN IN
a DT DT
previous JJ JJ
estimate NN NN
. . .
<s>
Canadian JJ JJ
crude NN NN
production NN NN
averaged VBD VBD
about IN RB
1.69 CD CD
million CD CD
barrels NNS NNS
a DT DT
day NN NN
during IN IN
1989 CD CD
's POS POS
first JJ JJ
half NN NN
, , ,
about IN RB
1 CD CD
% NN NN
below IN IN
the DT DT
1988 CD CD
level NN NN
. . .
<s>
`` `` ``
The DT DT
capability NN NN
of IN IN
existing VBG JJ
fields NNS NNS
to TO TO
deliver VB VB
oil NN NN
is VBZ VBZ
dropping VBG VBG
, , ,
'' '' ''
and CC CC
oil NN NN
exploration NN NN
activity NN NN
is VBZ VBZ
also RB RB
down RP RB
dramatically RB RB
, , ,
as IN IN
many JJ JJ
producers NNS NNS
shift VBP VBP
their PRP$ PRP$
emphasis NN NN
to TO TO
natural JJ JJ
gas NN NN
, , ,
said VBD VBD
Ronald NNP NNP
Watkins NNP NNP
, , ,
vice NN NN
president NN NN
for IN IN
government NN NN
and CC CC
industry NN NN
relations NNS NNS
with IN IN
Interprovincial NNP NNP
's POS POS
parent NN NN
, , ,
Interhome NNP NNP
Energy NNP NNP
Inc NNP NNP
. . .
<s>
Mr. NNP NNP
Watkins NNP NNP
said VBD VBD
volume NN NN
on IN IN
Interprovincial NNP NNP
's POS POS
system NN NN
is VBZ VBZ
down RB RB
about IN RB
2 CD CD
% NN NN
since IN IN
January NNP NNP
and CC CC
is VBZ VBZ
expected VBN VBN
to TO TO
fall VB VB
further RB RBR
, , ,
making VBG VBG
expansion NN NN
unnecessary JJ JJ
until IN IN
perhaps RB RB
the DT DT
mid-1990s NNS NNS
. . .
<s>
`` `` ``
There EX EX
has VBZ VBZ
been VBN VBN
a DT DT
swing NN NN
of IN IN
the DT DT
pendulum : NN
back RB RB
to TO TO
the DT DT
gas NN NN
side NN NN
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
Many JJ JJ
of IN IN
Canada NNP NNP
's POS POS
oil NN NN
and CC CC
gas NN NN
producers NNS NNS
say VBP VBP
the DT DT
outlook NN NN
for IN IN
natural JJ JJ
gas NN NN
is VBZ VBZ
better JJR JJR
than IN IN
it PRP PRP
is VBZ VBZ
for IN IN
oil NN NN
, , ,
and CC CC
have VBP VBP
shifted VBN VBN
their PRP$ PRP$
exploration NN NN
and CC CC
development NN NN
budgets NNS NNS
accordingly RB RB
. . .
<s>
The DT DT
number NN NN
of IN IN
active JJ JJ
drilling NN NN
rigs NNS NNS
in IN IN
Canada NNP NNP
is VBZ VBZ
down RB RB
30 CD CD
% NN NN
from IN IN
a DT DT
year NN NN
ago RB RB
, , ,
and CC CC
the DT DT
number NN NN
of IN IN
completed VBN VBN
oil NN NN
wells NNS NNS
is VBZ VBZ
`` `` ``
down RB RB
more RBR JJR
than IN IN
that DT DT
, , ,
due JJ JJ
to TO TO
the DT DT
increasing VBG VBG
focus NN NN
on IN IN
gas NN NN
exploration NN NN
, , ,
'' '' ''
said VBD VBD
Robert NNP NNP
Feick NNP NNP
, , ,
manager NN NN
of IN IN
crude JJ JJ
oil NN NN
with IN IN
Calgary NNP NNP
's POS POS
Independent NNP NNP
Petroleum NNP NNP
Association NNP NNP
of IN IN
Canada NNP NNP
, , ,
an DT DT
industry NN NN
group NN NN
. . .
<s>
Mr. NNP NNP
Watkins NNP NNP
said VBD VBD
the DT DT
main JJ JJ
reason NN NN
for IN IN
the DT DT
production NN NN
decline NN NN
is VBZ VBZ
shrinking VBG VBG
output NN NN
of IN IN
light JJ JJ
crude NN NN
from IN IN
mature JJ JJ
, , ,
conventional JJ JJ
fields NNS NNS
in IN IN
western JJ JJ
Canada NNP NNP
. . .
<s>
Interprovincial NNP NNP
transports VBZ VBZ
about IN RB
75 CD CD
% NN NN
of IN IN
all DT DT
crude NN NN
produced VBN VBN
in IN IN
western JJ JJ
Canada NNP NNP
, , ,
and CC CC
almost RB RB
60 CD CD
% NN NN
of IN IN
Interprovincial NNP NNP
's POS POS
total JJ JJ
volume NN NN
consists VBZ VBZ
of IN IN
light JJ JJ
crude NN NN
. . .
<s>
Nearly RB RB
all DT DT
of IN IN
the DT DT
crude JJ JJ
oil NN NN
that IN IN
Canada NNP NNP
exports NNS NNS
to TO TO
the DT DT
U.S. NNP NNP
is VBZ VBZ
transported VBN VBN
on IN IN
Interprovincial NNP NNP
's POS POS
system NN NN
, , ,
whose WP$ WP$
main JJ JJ
line NN NN
runs VBZ NNS
from IN IN
Edmonton NNP NNP
to TO TO
major JJ JJ
U.S. NNP NNP
and CC CC
Canadian JJ JJ
cities NNS NNS
in IN IN
the DT DT
Great NNP NNP
Lakes NNPS NNPS
region NN NN
, , ,
including VBG VBG
Chicago NNP NNP
, , ,
Buffalo NNP NNP
, , ,
Toronto NNP NNP
and CC CC
Montreal NNP NNP
. . .
<s>
Canada NNP NNP
's POS POS
current JJ JJ
oil NN NN
exports NNS NNS
to TO TO
the DT DT
U.S. NNP NNP
total VBP VBP
about IN RB
600,000 CD CD
barrels NNS NNS
a DT DT
day NN NN
, , ,
or CC CC
about IN RB
9.1 CD CD
% NN NN
of IN IN
net JJ JJ
U.S. NNP NNP
crude NN NN
imports NNS NNS
, , ,
said VBD VBD
John NNP NNP
Lichtblau NNP NNP
, , ,
president NN NN
of IN IN
the DT DT
New NNP JJ
York-based JJ JJ
Petroleum NNP NNP
Industry NNP NNP
Research NNP NNP
Foundation NNP NNP
. . .
<s>
That DT DT
ranks VBZ VBZ
Canada NNP NNP
as IN IN
the DT DT
fourth-largest JJ JJ
source NN NN
of IN IN
imported VBN JJ
crude NN NN
, , ,
behind IN IN
Saudi NNP NNP
Arabia NNP NNP
, , ,
Nigeria NNP NNP
and CC CC
Mexico NNP NNP
. . .
<s>
Mr. NNP NNP
Lichtblau NNP NNP
said VBD VBD
Canada NNP NNP
's POS POS
declining VBG VBG
crude JJ NN
output NN NN
, , ,
combined VBN VBN
with IN IN
the DT DT
fast-shrinking JJ JJ
output NN NN
of IN IN
U.S. NNP NNP
crude NN NN
, , ,
will MD MD
help VB VB
intensify VB VB
U.S. NNP NNP
reliance NN NN
on IN IN
oil NN NN
from IN IN
overseas RB NN
, , ,
particularly RB RB
the DT DT
Middle NNP NNP
East NNP NNP
. . .
<s>
`` `` ``
It PRP PRP
's VBZ VBZ
very RB RB
much RB RB
a DT DT
growing VBG VBG
concern NN NN
. . .
<s>
But CC CC
when WRB WRB
something NN NN
is VBZ VBZ
inevitable JJ JJ
, , ,
you PRP PRP
learn VBP VBP
to TO TO
live VB VB
with IN IN
it PRP PRP
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
Mr. NNP NNP
Lichtblau NNP NNP
stressed VBD VBD
that IN IN
the DT DT
delay NN NN
of IN IN
Interprovincial NNP NNP
's POS POS
proposed VBN VBN
expansion NN NN
wo MD MD
n't RB RB
by IN IN
itself PRP PRP
increase VBP VB
U.S. NNP NNP
dependence NN NN
on IN IN
offshore JJ JJ
crude NN NN
, , ,
however RB RB
, , ,
since IN IN
Canadian JJ JJ
imports NNS NNS
are VBP VBP
limited VBN VBN
in IN IN
any DT DT
case NN NN
by IN IN
Canada NNP NNP
's POS POS
falling VBG VBG
output NN NN
. . .
<s>
Under IN IN
terms NNS NNS
of IN IN
its PRP$ PRP$
proposed VBN VBN
two-step JJ JJ
expansion NN NN
, , ,
which WDT WDT
would MD MD
have VB VB
required VBN VBN
regulatory JJ JJ
approval NN NN
, , ,
Interprovincial NNP NNP
intended VBD VBD
to TO TO
add VB VB
200,000 CD CD
barrels NNS NNS
a DT DT
day NN NN
of IN IN
additional JJ JJ
capacity NN NN
to TO TO
its PRP$ PRP$
system NN NN
, , ,
beginning VBG VBG
with IN IN
a DT DT
modest JJ JJ
expansion NN NN
by IN IN
1991 CD CD
. . .
<s>
The DT DT
system NN NN
currently RB RB
has VBZ VBZ
a DT DT
capacity NN NN
of IN IN
1.55 CD CD
million CD CD
barrels NNS NNS
a DT DT
day NN NN
. . .
<s>
Inland NNP NNP
Steel NNP NNP
Industries NNPS NNP
Inc. NNP NNP
expects VBZ VBZ
to TO TO
report VB VB
that IN IN
third-quarter JJ JJ
earnings NNS NNS
dropped VBD VBD
more JJR JJR
than IN IN
50 CD CD
% NN NN
from IN IN
the DT DT
previous JJ JJ
quarter NN NN
as IN IN
a DT DT
result NN NN
of IN IN
reduced VBN JJ
sales NNS NNS
volume NN NN
and CC CC
increased VBN JJ
costs NNS NNS
. . .
<s>
In IN IN
the DT DT
second JJ JJ
quarter NN NN
, , ,
the DT DT
steelmaker NN NN
had VBD VBD
net JJ JJ
income NN NN
of IN IN
$ $ $
45.3 CD CD
million CD CD
or CC CC
$ $ $
1.25 CD CD
a DT DT
share NN NN
, , ,
including VBG VBG
a DT DT
pretax JJ JJ
charge NN NN
of IN IN
$ $ $
17 CD CD
million CD CD
related VBN VBN
to TO TO
the DT DT
settlement NN NN
of IN IN
a DT DT
suit NN NN
, , ,
on IN IN
sales NNS NNS
of IN IN
$ $ $
1.11 CD CD
billion CD CD
. . .
<s>
The DT DT
company NN NN
said VBD VBD
normal JJ JJ
seasonal JJ JJ
softness NN NN
and CC CC
lost VBN JJ
orders NNS NNS
caused VBN VBN
by IN IN
prolonged JJ JJ
labor NN NN
talks NNS NNS
reduced VBD VBD
shipments NNS NNS
by IN IN
200,000 CD CD
tons NNS NNS
in IN IN
the DT DT
latest JJS JJS
quarter NN NN
, , ,
compared VBN VBN
with IN IN
the DT DT
second JJ JJ
quarter NN NN
. . .
<s>
At IN IN
the DT DT
same JJ JJ
time NN NN
, , ,
the DT DT
integrated-steel JJ NN
business NN NN
was VBD VBD
hurt VBN VBN
by IN IN
continued JJ JJ
increases NNS NNS
in IN IN
materials NNS NNS
costs NNS NNS
and CC CC
repair NN NN
and CC CC
maintenance NN NN
expenses NNS NNS
, , ,
as RB RB
well RB RB
as IN IN
higher JJR JJR
labor NN NN
costs NNS NNS
under IN IN
its PRP$ PRP$
new JJ JJ
contract NN NN
. . .
<s>
The DT DT
service-center NN NN
business NN NN
was VBD VBD
hurt VBN VBN
by IN IN
reduced VBN JJ
margins NNS NNS
and CC CC
start-up NN JJ
costs NNS NNS
associated VBN VBN
with IN IN
its PRP$ PRP$
Joseph NNP NNP
T. NNP NNP
Ryerson NNP NNP
& CC CC
Son NNP NNP
unit NN NN
. . .
<s>
The DT DT
company NN NN
said VBD VBD
it PRP PRP
is VBZ VBZ
beginning VBG VBG
to TO TO
see VB VB
some DT DT
shipping-rate JJ JJ
improvements NNS NNS
in IN IN
both DT CC
the DT DT
intergrated-steel NN NN
and CC CC
steel-service-center JJ NN
segments NNS NNS
, , ,
which WDT WDT
should MD MD
result VB VB
in IN IN
improved VBN JJ
results NNS NNS
for IN IN
the DT DT
fourth JJ JJ
quarter NN NN
. . .
<s>
Inland RB NNP
said VBD VBD
its PRP$ PRP$
third-quarter JJ JJ
results NNS NNS
will MD MD
be VB VB
announced VBN VBN
later RB RB
this DT DT
week NN NN
. . .
<s>
In IN IN
the DT DT
year-earlier JJ JJ
third JJ JJ
quarter NN NN
, , ,
when WRB WRB
the DT DT
industry NN NN
was VBD VBD
in IN IN
the DT DT
midst NN NN
of IN IN
a DT DT
boom NN NN
, , ,
the DT DT
company NN NN
had VBD VBD
net NN NN
of IN IN
$ $ $
61 CD CD
million CD CD
, , ,
or CC CC
$ $ $
1.70 CD CD
a DT DT
share NN NN
, , ,
on IN IN
sales NNS NNS
of IN IN
$ $ $
1.02 CD CD
billion CD CD
. . .
<s>
Predicting VBG VBG
the DT DT
financial JJ JJ
results NNS NNS
of IN IN
computer NN NN
firms NNS NNS
has VBZ VBZ
been VBN VBN
a DT DT
tough JJ JJ
job NN NN
lately RB RB
. . .
<s>
Take VB VB
Microsoft NNP NNP
Corp. NNP NNP
, , ,
the DT DT
largest JJS JJS
maker NN NN
of IN IN
personal JJ JJ
computer NN NN
software NN NN
and CC CC
generally RB RB
considered VBN VBN
an DT DT
industry NN NN
bellwether NN NN
. . .
<s>
In IN IN
July NNP NNP
, , ,
the DT DT
company NN NN
stunned VBD VBD
Wall NNP NNP
Street NNP NNP
with IN IN
the DT DT
prediction NN NN
that IN DT
growth NN NN
in IN IN
the DT DT
personal JJ JJ
computer NN NN
business NN NN
overall NN RB
would MD MD
be VB VB
only RB RB
10 CD CD
% NN NN
in IN IN
1990 CD CD
, , ,
a DT DT
modest JJ JJ
increase NN NN
when WRB WRB
compared VBN VBN
with IN IN
the DT DT
sizzling VBG JJ
expansion NN NN
of IN IN
years NNS NNS
past JJ JJ
. . .
<s>
Investors NNS NNS
-- : :
taking VBG VBG
this DT DT
as IN IN
a DT DT
sign NN NN
that IN IN
a DT DT
broad JJ JJ
industry NN NN
slump NN NN
was VBD VBD
in IN IN
the DT DT
offing NN NN
-- : :
reacted VBN VBD
by IN IN
selling VBG VBG
the DT DT
company NN NN
's POS POS
stock NN NN
, , ,
which WDT WDT
lost VBD VBD
$ $ $
3.25 CD CD
that DT DT
day NN NN
to TO TO
close VB VB
at IN IN
$ $ $
52 CD CD
in IN IN
national JJ JJ
over-the-counter JJ JJ
trading NN NN
. . .
<s>
But CC CC
that DT DT
was VBD VBD
all DT DT
of IN IN
three CD CD
months NNS NNS
ago RB RB
. . .
<s>
Last JJ JJ
week NN NN
, , ,
Microsoft NNP NNP
said VBD VBD
it PRP PRP
expects VBZ VBZ
revenue NN NN
for IN IN
its PRP$ PRP$
first JJ JJ
quarter NN NN
ended VBN VBN
Sept. NNP NNP
30 CD CD
to TO TO
increase VB VB
34 CD CD
% NN NN
. . .
<s>
The DT DT
announcement NN NN
caused VBD VBD
the DT DT
company NN NN
's POS POS
stock NN NN
to TO TO
surge VB VB
$ $ $
6.50 CD CD
to TO TO
close VB VB
at IN IN
$ $ $
75.50 CD CD
a DT DT
share NN NN
. . .
<s>
Microsoft NNP NNP
's POS POS
surprising JJ JJ
strength NN NN
is VBZ VBZ
one CD CD
example NN NN
of IN IN
the DT DT
difficulty NN NN
facing VBG VBG
investors NNS NNS
looking VBG VBG
for IN IN
reassurances NNS NNS
about IN IN
the DT DT
financial JJ JJ
health NN NN
of IN IN
the DT DT
computer NN NN
firms NNS NNS
. . .
<s>
`` `` ``
It PRP PRP
's VBZ VBZ
hard JJ JJ
to TO TO
know VB VB
what WP WP
to TO TO
expect VB VB
at IN IN
this DT DT
point NN NN
, , ,
'' '' ''
said VBD VBD
Peter NNP NNP
Rogers NNP NNP
, , ,
an DT DT
analyst NN NN
at IN IN
Robertson NNP NNP
Stephens NNP NNP
& CC CC
Co NNP NNP
. . .
<s>
`` `` ``
The DT DT
industry NN NN
defies VBZ VBZ
characterization NN NN
. . .
<s>
'' '' ''
To TO TO
illustrate VB VB
, , ,
Mr. NNP NNP
Rogers NNP NNP
said VBD VBD
that IN IN
of IN IN
the DT DT
14 CD CD
computer-related JJ JJ
firms NNS NNS
he PRP PRP
follows VBZ VBZ
, , ,
half NN NN
will MD MD
report VB VB
for IN IN
their PRP$ PRP$
most RBS RBS
recent JJ JJ
quarter NN NN
earnings NNS NNS
below IN IN
last JJ JJ
year NN NN
's POS POS
results NNS NNS
, , ,
and CC CC
half NN NN
above IN IN
those DT DT
results NNS NNS
. . .
<s>
Among IN IN
those DT DT
companies NNS NNS
expected VBN VBN
to TO TO
have VB VB
a DT DT
down RP JJ
quarter NN NN
are VBP VBP
Hewlett-Packard NNP NNP
Co. NNP NNP
, , ,
Amdahl NNP NNP
Corp. NNP NNP
and CC CC
Sun NNP NNP
Microsystems NNPS NNP
Inc. NNP NNP
, , ,
generally RB RB
solid JJ JJ
performers NNS NNS
in IN IN
the DT DT
past NN NN
. . .
<s>
International NNP NNP
Business NNP NNP
Machines NNPS NNP
Corp. NNP NNP
also RB RB
is VBZ VBZ
expected VBN VBN
to TO TO
report VB VB
disappointing JJ JJ
results NNS NNS
. . .
<s>
Apple NNP NNP
Computer NNP NNP
Inc. NNP NNP
, , ,
meanwhile RB RB
, , ,
is VBZ VBZ
expected VBN VBN
to TO TO
show VB VB
improved VBN JJ
earnings NNS NNS
for IN IN
the DT DT
period NN NN
ended VBD VBN
Sept NNP NNP
. . .
<s>
Another DT DT
contradictory JJ JJ
message NN NN
comes VBZ VBZ
from IN IN
Businessland NNP NNP
Inc. NNP NNP
, , ,
a DT DT
computer NN NN
retailer NN NN
. . .
<s>
In IN IN
July NNP NNP
, , ,
the DT DT
company NN NN
reported VBD VBD
that IN IN
booming VBG JJ
sales NNS NNS
of IN IN
new JJ JJ
personal JJ JJ
computers NNS NNS
from IN IN
Apple NNP NNP
and CC CC
IBM NNP NNP
had VBD VBD
resulted VBN VBN
in IN IN
net JJ JJ
income NN NN
more JJR RBR
than IN IN
doubling VBG VBG
for IN IN
its PRP$ PRP$
fourth JJ JJ
quarter NN NN
ended VBD VBN
June NNP NNP
30 CD CD
to TO TO
$ $ $
7.4 CD CD
million CD CD
, , ,
or CC CC
23 CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
This DT DT
month NN NN
, , ,
however RB RB
, , ,
Businessland NNP NNP
warned VBD VBD
investors NNS NNS
that IN IN
results NNS NNS
for IN IN
its PRP$ PRP$
first JJ JJ
quarter NN NN
ended VBN VBD
Sept. NNP NNP
30 CD CD
had VBD VBD
n't RB RB
met VBN VBN
expectations NNS NNS
. . .
<s>
The DT DT
company NN NN
said VBD VBD
it PRP PRP
expects VBZ VBZ
earnings NNS NNS
of IN IN
14 CD CD
to TO TO
17 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
down RB RB
from IN IN
25 CD CD
cents NNS NNS
a DT DT
share NN NN
in IN IN
the DT DT
year-earlier JJ JJ
period NN NN
. . .
<s>
While IN IN
the DT DT
earnings NNS NNS
picture NN NN
confuses VBZ VBZ
, , ,
observers NNS NNS
say VBP VBP
the DT DT
major JJ JJ
forces NNS NNS
expected VBN VBD
to TO TO
shape VB VB
the DT DT
industry NN NN
in IN IN
the DT DT
coming VBG JJ
year NN NN
are VBP VBP
clearer JJR JJR
. . .
<s>
Companies NNS NNS
will MD MD
continue VB VB
to TO TO
war NN VB
over IN IN
standards NNS NNS
. . .
<s>
In IN IN
computer NN NN
publishing NN NN
, , ,
a DT DT
battle NN NN
over IN IN
typefaces NNS NNS
is VBZ VBZ
hurting VBG VBG
Adobe NNP NNP
Systems NNP NNP
Inc. NNP NNP
, , ,
which WDT WDT
sells VBZ VBZ
software NN NN
that WDT WDT
controls VBZ VBZ
the DT DT
image NN NN
produced VBN VBN
by IN IN
printers NNS NNS
and CC CC
displays NNS NNS
. . .
<s>
Until IN IN
recently RB RB
, , ,
Adobe NNP NNP
had VBD VBD
a DT DT
lock NN NN
on IN IN
the DT DT
market NN NN
for IN IN
image NN NN
software NN NN
, , ,
but CC CC
last JJ JJ
month NN NN
Apple NNP NNP
, , ,
Adobe NNP NNP
's POS POS
biggest JJS JJS
customer NN NN
, , ,
and CC CC
Microsoft NNP NNP
rebelled VBD VBD
. . .
<s>
Now RB RB
the DT DT
two CD CD
firms NNS NNS
are VBP VBP
collaborating VBG VBG
on IN IN
an DT DT
alternative NN NN
to TO TO
Adobe NNP NNP
's POS POS
approach NN NN
, , ,
and CC CC
analysts NNS NNS
say VBP VBP
they PRP PRP
are VBP VBP
likely JJ JJ
to TO TO
carry VB VB
IBM NNP NNP
, , ,
the DT DT
biggest JJS JJS
seller NN NN
of IN IN
personal JJ JJ
computers NNS NNS
, , ,
along IN RB
with IN IN
them PRP PRP
. . .
<s>
The DT DT
short-term JJ JJ
outlook NN NN
for IN IN
Adobe NNP NNP
's POS POS
business NN NN
, , ,
however RB RB
, , ,
appears VBZ VBZ
strong JJ JJ
. . .
<s>
The DT DT
company NN NN
is VBZ VBZ
beginning VBG VBG
to TO TO
ship VB VB
a DT DT
new JJ JJ
software NN NN
program NN NN
that WDT WDT
's VBZ VBZ
being VBG VBG
heralded VBN VBN
as IN IN
a DT DT
boon NN NN
for IN IN
owners NNS NNS
of IN IN
low-end JJ JJ
printers NNS NNS
sold VBN VBN
by IN IN
Apple NNP NNP
. . .
<s>
The DT DT
program NN NN
is VBZ VBZ
aimed VBN VBN
at IN IN
improving VBG VBG
the DT DT
quality NN NN
of IN IN
printed VBN JJ
material NN NN
. . .
<s>
John NNP NNP
Warnock NNP NNP
, , ,
Adobe NNP NNP
's POS POS
chief JJ JJ
executive NN JJ
officer NN NN
, , ,
said VBD VBD
the DT DT
Mountain NNP NNP
View NNP NNP
, , ,
Calif. NNP NNP
, , ,
company NN NN
has VBZ VBZ
been VBN VBN
receiving VBG VBG
1,000 CD CD
calls NNS NNS
a DT DT
day NN NN
about IN IN
the DT DT
product NN NN
since IN IN
it PRP PRP
was VBD VBD
demonstrated VBN VBN
at IN IN
a DT DT
computer NN NN
publishing NN NN
conference NN NN
several JJ JJ
weeks NNS NNS
ago RB RB
. . .
<s>
Meanwhile RB RB
, , ,
competition NN NN
between IN IN
various JJ JJ
operating NN NN
systems NNS NNS
, , ,
which WDT WDT
control VBP VBP
the DT DT
basic JJ JJ
functions NNS NNS
of IN IN
a DT DT
computer NN NN
, , ,
spells NNS VBZ
trouble NN NN
for IN IN
software NN NN
firms NNS NNS
generally RB RB
. . .
<s>
`` `` ``
It PRP PRP
creates VBZ VBZ
uncertainty NN NN
and CC CC
usually RB RB
slows VBZ VBZ
down RP RP
sales NNS NNS
, , ,
'' '' ''
said VBD VBD
Russ NNP NNP
Crabs NNP NNP
, , ,
an DT DT
analyst NN NN
at IN IN
Soundview NNP NNP
Financial NNP NNP
Group NNP NNP
. . .
<s>
Mr. NNP NNP
Crabs NNP NNP
said VBD VBD
this DT DT
probably RB RB
is VBZ VBZ
behind IN IN
the DT DT
expected VBN JJ
weak JJ JJ
performance NN NN
of IN IN
Aldus NNP NNP
Corp. NNP NNP
, , ,
maker NN NN
of IN IN
a DT DT
widely RB RB
used VBN VBN
computer NN NN
publishing NN NN
program NN NN
. . .
<s>
He PRP PRP
expects VBZ VBZ
Aldus NNP NNP
to TO TO
report VB VB
earnings NNS NNS
of IN IN
21 CD CD
cents NNS NNS
a DT DT
share NN NN
on IN IN
revenues NNS NNS
of IN IN
$ $ $
19.5 CD CD
million CD CD
for IN IN
its PRP$ PRP$
third JJ JJ
quarter NN NN
, , ,
compared VBN VBN
with IN IN
earnings NNS NNS
of IN IN
30 CD CD
cents NNS NNS
a DT DT
share NN NN
on IN IN
revenue NN NN
of IN IN
20.4 CD CD
million CD CD
in IN IN
the DT DT
year-earlier JJ JJ
period NN NN
. . .
<s>
Aldus NNP NNP
officials NNS NNS
could MD MD
n't RB RB
be VB VB
reached VBN VBN
for IN IN
comment NN NN
. . .
<s>
On IN IN
the DT DT
other JJ JJ
hand NN NN
, , ,
the DT DT
battle NN NN
of IN IN
the DT DT
bus NN NN
is VBZ VBZ
expected VBN VBN
to TO TO
grow VB VB
increasingly RB RB
irrelevant JJ JJ
. . .
<s>
A DT DT
bus NN NN
is VBZ VBZ
the DT DT
data NNS NNS
highway NN NN
within IN IN
a DT DT
computer NN NN
. . .
<s>
IBM NNP NNP
is VBZ VBZ
backing VBG VBG
one CD CD
type NN NN
of IN IN
bus NN NN
called VBN VBD
microchannel NN JJ
, , ,
while IN IN
the DT DT
nine CD CD
other JJ JJ
leading VBG JJ
computer NN NN
makers NNS NNS
, , ,
including VBG VBG
H-P NNP NNP
and CC CC
Compaq NNP NNP
Computer NNP NNP
Corp. NNP NNP
, , ,
have VBP VBP
chosen VBN VBN
another DT DT
method NN NN
. . .
<s>
`` `` ``
Users NNS NNS
do VBP VBP
n't RB RB
care VB VB
about IN IN
the DT DT
bus NN NN
, , ,
'' '' ''
said VBD VBD
Daniel NNP NNP
Benton NNP NNP
, , ,
an DT DT
analyst NN NN
at IN IN
Goldman NNP NNP
, , ,
Sachs NNP NNP
& CC CC
Co NNP NNP
. . .
<s>
He PRP PRP
said VBD VBD
Apple NNP NNP
's POS POS
family NN NN
of IN IN
Macintosh NNP NNP
computers NNS NNS
, , ,
for IN IN
instance NN NN
, , ,
uses VBZ VBZ
four CD CD
different JJ JJ
buses NNS NNS
`` `` ``
and CC CC
no DT DT
one NN NN
seems VBZ VBZ
to TO TO
mind VB VB
. . .
<s>
'' '' ''
The DT DT
gap NN NN
between IN IN
winners NNS NNS
and CC CC
laggards NNS NNS
will MD MD
grow VB VB
. . .
<s>
In IN IN
personal JJ JJ
computers NNS NNS
, , ,
Apple NNP NNP
, , ,
Compaq NNP NNP
and CC CC
IBM NNP NNP
are VBP VBP
expected VBN VBN
to TO TO
tighten VB VB
their PRP$ PRP$
hold NN NN
on IN IN
their PRP$ PRP$
business NN NN
. . .
<s>
At IN IN
the DT DT
same JJ JJ
time NN NN
, , ,
second-tier JJ JJ
firms NNS NNS
will MD MD
continue VB VB
to TO TO
lose VB VB
ground NN NN
. . .
<s>
Some DT DT
lagging VBG VBG
competitors NNS NNS
even RB RB
may MD MD
leave VB VB
the DT DT
personal JJ JJ
computer NN NN
business NN NN
altogether RB RB
. . .
<s>
Wyse NNP NNP
Technology NNP NNP
, , ,
for IN IN
instance NN NN
, , ,
is VBZ VBZ
considered VBN VBN
a DT DT
candidate NN NN
to TO TO
sell VB VB
its PRP$ PRP$
troubled JJ JJ
operation NN NN
. . .
<s>
`` `` ``
Wyse NN NNP
has VBZ VBZ
done VBN VBN
well RB RB
establishing VBG VBG
a DT DT
distribution NN NN
business NN NN
, , ,
but CC CC
they PRP PRP
have VBP VBP
n't RB RB
delivered VBN VBN
products NNS NNS
that WDT WDT
sell VBP VBP
, , ,
'' '' ''
said VBD VBD
Kimball NNP NNP
Brown NNP NNP
, , ,
an DT DT
analyst NN NN
at IN IN
Prudential-Bache NNP NNP
Securities NNPS NNP
. . .
<s>
Mr. NNP NNP
Brown NNP NNP
estimates VBZ VBZ
Wyse NNP NNP
, , ,
whose WP$ WP$
terminals NNS NNS
business NN NN
is VBZ VBZ
strong JJ JJ
, , ,
will MD MD
report VB VB
a DT DT
loss NN NN
of IN IN
12 CD CD
cents NNS NNS
a DT DT
share NN NN
for IN IN
its PRP$ PRP$
quarter NN NN
ended VBD VBN
Sept NNP NNP
. . .
<s>
Personal-computer NN NN
makers NNS NNS
will MD MD
continue VB VB
to TO TO
eat VB VB
away RP RP
at IN IN
the DT DT
business NN NN
of IN IN
more RBR RBR
traditional JJ JJ
computer NN NN
firms NNS NNS
. . .
<s>
Ever-more : RB
powerful JJ JJ
desk-top JJ JJ
computers NNS NNS
, , ,
designed VBN VBN
with IN IN
one CD CD
or CC CC
more JJR JJR
microprocessors NNS NNS
as IN IN
their PRP$ PRP$
`` `` ``
brains NNS NNS
, , ,
'' '' ''
are VBP VBP
expected VBN VBN
to TO TO
increasingly RB RB
take VB VB
on RP RP
functions NNS NNS
carried VBN VBN
out RP RP
by IN IN
more RBR RBR
expensive JJ JJ
minicomputers NNS NNS
and CC CC
mainframes NNS NNS
. . .
<s>
`` `` ``
The DT DT
guys NNS NNS
that WDT WDT
make VBP VBP
traditional JJ JJ
hardware NN NN
are VBP VBP
really RB RB
being VBG VBG
obsoleted VBN VBN
by IN IN
microprocessor-based JJ JJ
machines NNS NNS
, , ,
'' '' ''
said VBD VBD
Mr. NNP NNP
Benton NNP NNP
. . .
<s>
As IN IN
a DT DT
result NN NN
of IN IN
this DT DT
trend NN NN
, , ,
longtime JJ JJ
powerhouses NNS NNS
H-P NNP NNP
, , ,
IBM NNP NNP
and CC CC
Digital NNP NNP
Equipment NNP NNP
Corp. NNP NNP
are VBP VBP
scrambling VBG VBG
to TO TO
counterattack NN VB
with IN IN
microprocessor-based JJ JJ
systems NNS NNS
of IN IN
their PRP$ PRP$
own JJ JJ
. . .
<s>
But CC CC
they PRP PRP
will MD MD
have VB VB
to TO TO
act VB VB
quickly RB RB
. . .
<s>
Mr. NNP NNP
Benton NNP NNP
expects VBZ VBZ
Compaq NNP NNP
to TO TO
unveil VB VB
a DT DT
family NN NN
of IN IN
high-end JJ JJ
personal JJ JJ
computers NNS NNS
later RB RB
this DT DT
year NN NN
that WDT WDT
are VBP VBP
powerful JJ JJ
enough RB RB
to TO TO
serve VB VB
as IN IN
the DT DT
hub NN NN
for IN IN
communications NNS NNS
within IN IN
large JJ JJ
networks NNS NNS
of IN IN
desk-top JJ JJ
machines NNS NNS
. . .
<s>
A DT DT
raft NN NN
of IN IN
new JJ JJ
computer NN NN
companies NNS NNS
also RB RB
has VBZ VBZ
targeted VBN VBN
this DT DT
`` `` ``
server NN NN
'' '' ''
market NN NN
. . .
<s>
Population NNP NN
Drain NNP NN
Ends NNPS VBZ
For IN IN
Midwestern NNP JJ
States NNPS NNS
IOWA NNP NNP
IS VBZ VBZ
MAKING VBG VBG
a DT DT
comeback NN NN
. . .
<s>
So RB RB
are VBP VBP
Indiana NNP NNP
, , ,
Ohio NNP NNP
and CC CC
Michigan NNP NNP
. . .
<s>
The DT DT
population NN NN
of IN IN
all DT DT
four CD CD
states NNS NNS
is VBZ VBZ
on IN IN
the DT DT
upswing NN NN
, , ,
according VBG VBG
to TO TO
new JJ JJ
Census NNP NNP
Bureau NNP NNP
estimates VBZ NNS
, , ,
following VBG VBG
declines NNS NNS
throughout IN IN
the DT DT
early JJ JJ
1980s CD NNS
. . .
<s>
The DT DT
gains NNS NNS
, , ,
to TO TO
be VB VB
sure JJ JJ
, , ,
are VBP VBP
rather RB RB
small JJ JJ
. . .
<s>
Iowa NNP NNP
, , ,
for IN IN
instance NN NN
, , ,
saw VBD VBD
its PRP$ PRP$
population NN NN
grow VB VB
by IN IN
11,000 CD CD
people NNS NNS
, , ,
or CC CC
0.4 CD CD
% NN NN
, , ,
between IN IN
1987 CD CD
and CC CC
1988 CD CD
, , ,
the DT DT
Census NNP NNP
Bureau NNP NNP
says VBZ VBZ
. . .
<s>
Still RB RB
, , ,
even RB RB
that IN DT
modest JJ JJ
increase NN NN
is VBZ VBZ
good JJ JJ
news NN NN
for IN IN
a DT DT
state NN NN
that WDT WDT
had VBD VBD
n't RB RB
grown VBN VBN
at IN IN
all DT DT
since IN IN
1981 CD CD
. . .
<s>
Between IN IN
1987 CD CD
and CC CC
1988 CD CD
, , ,
North NNP NNP
Dakota NNP NNP
was VBD VBD
the DT DT
only JJ JJ
state NN NN
in IN IN
the DT DT
Midwest NNP JJS
to TO TO
lose VB VB
population NN NN
, , ,
a DT DT
loss NN NN
of IN IN
4,000 CD CD
people NNS NNS
. . .
<s>
Six CD CD
of IN IN
the DT DT
12 CD CD
midwestern JJ JJ
states NNS NNS
have VBP VBP
been VBN VBN
growing VBG VBG
steadily RB RB
since IN IN
1980 CD CD
-- : :
Illinois NNP NNP
, , ,
Kansas NNP NNP
, , ,
Minnesota NNP NNP
, , ,
Missouri NNP NNP
, , ,
South NNP NNP
Dakota NNP NNP
and CC CC
Wisconsin NNP NNP
. . .
<s>
The DT DT
Northeast NNP NNP
has VBZ VBZ
been VBN VBN
holding VBG VBG
its PRP$ PRP$
own JJ JJ
in IN IN
the DT DT
population NN NN
race NN NN
. . .
<s>
Seven CD CD
of IN IN
nine CD CD
states NNS NNS
have VBP VBP
grown VBN VBN
each DT DT
year NN NN
since IN IN
1980 CD CD
, , ,
including VBG VBG
New NNP NNP
York NNP NNP
, , ,
which WDT WDT
lost VBD VBD
4 CD CD
% NN NN
of IN IN
its PRP$ PRP$
population NN NN
during IN IN
the DT DT
1970s CD NNS
. . .
<s>
And CC CC
although IN IN
Pennsylvania NNP NNP
and CC CC
Massachusetts NNP NNP
suffered VBD VBD
slight JJ JJ
declines NNS NNS
earlier RBR RBR
in IN IN
the DT DT
decade NN NN
, , ,
they PRP PRP
are VBP VBP
growing VBG VBG
again RB RB
. . .
<s>
At IN IN
the DT DT
same JJ JJ
time NN NN
, , ,
several JJ JJ
states NNS NNS
in IN IN
the DT DT
South NNP NNP
and CC CC
West NNP NNP
have VBP VBP
had VBN VBN
their PRP$ PRP$
own JJ JJ
population NN NN
turnaround NN NN
. . .
<s>
Seven CD CD
states NNS NNS
that WDT WDT
grew VBD VBD
in IN IN
the DT DT
early JJ JJ
1980s CD NNS
are VBP VBP
now RB RB
losing VBG VBG
population NN NN
-- : :
West NNP NNP
Virginia NNP NNP
, , ,
Mississippi NNP NNP
, , ,
Louisiana NNP NNP
, , ,
Oklahoma NNP NNP
, , ,
Montana NNP NNP
, , ,
Wyoming NNP NNP
and CC CC
Alaska NNP NNP
. . .
<s>
Overall RB RB
, , ,
though RB RB
, , ,
the DT DT
South NNP NNP
and CC CC
West NNP NNP
still RB RB
outpace VB VBP
the DT DT
Northeast NNP NNP
and CC CC
Midwest NNP NNP
, , ,
and CC CC
fast-growing JJ JJ
states NNS NNS
like IN IN
Florida NNP NNP
and CC CC
California NNP NNP
ensure VBP VBP
that IN IN
the DT DT
pattern NN NN
will MD MD
continue VB VB
. . .
<s>
But CC CC
the DT DT
growth NN NN
gap NN NN
between IN IN
the DT DT
Sun NNP NNP
Belt NNP NNP
and CC CC
other JJ JJ
regions NNS NNS
has VBZ VBZ
clearly RB RB
started VBN VBN
narrowing VBG VBG
. . .
<s>
More JJR JJR
Elderly : JJ
Maintain : VBP
Their PRP$ PRP$
Independence NNP NN
THANKS : NNS
TO TO TO
modern JJ JJ
medicine NN NN
, , ,
more JJR JJR
couples NNS NNS
are VBP VBP
growing VBG VBG
old JJ JJ
together RB RB
. . .
<s>
And CC CC
even RB RB
after IN IN
losing VBG VBG
a DT DT
spouse NN NN
, , ,
more JJR JJR
of IN IN
the DT DT
elderly JJ JJ
are VBP VBP
staying VBG VBG
independent JJ JJ
. . .
<s>
A DT DT
new JJ JJ
Census NNP NNP
Bureau NNP NNP
study NN NN
of IN IN
the DT DT
noninstitutionalized JJ JJ
population NN NN
shows VBZ VBZ
that IN IN
64 CD CD
% NN NN
of IN IN
people NNS NNS
aged VBN VBN
65 CD CD
to TO TO
74 CD CD
were VBD VBD
living VBG VBG
with IN IN
a DT DT
spouse NN NN
in IN IN
1988 CD CD
, , ,
up RB RB
from IN IN
59 CD CD
% NN NN
in IN IN
1970 CD CD
. . .
<s>
This DT DT
does VBZ VBZ
n't RB RB
mean VB VB
they PRP PRP
're VBP VBP
less RBR RBR
likely JJ JJ
to TO TO
live VB VB
alone RB RB
, , ,
however RB RB
. . .
<s>
That DT DT
share NN NN
has VBZ VBZ
remained VBN VBN
at IN IN
about RB RB
24 CD CD
% NN NN
since IN IN
1970 CD CD
. . .
<s>
What WP WP
has VBZ VBZ
changed VBN VBN
is VBZ VBZ
that IN IN
more JJR JJR
of IN IN
the DT DT
young JJ JJ
elderly JJ JJ
are VBP VBP
living VBG VBG
with IN IN
spouses NNS NNS
rather RB RB
than IN IN
with IN IN
other JJ JJ
relatives NNS NNS
, , ,
such JJ JJ
as IN IN
children NNS NNS
. . .
<s>
In IN IN
1988 CD CD
, , ,
10 CD CD
% NN NN
of IN IN
those DT DT
aged VBN VBN
65 CD CD
to TO TO
74 CD CD
lived VBN VBD
with IN IN
relatives NNS NNS
other JJ JJ
than IN IN
spouses NNS NNS
, , ,
down RB RB
from IN IN
15 CD CD
% NN NN
in IN IN
1970 CD CD
. . .
<s>
As IN IN
people NNS NNS
get VBP VB
even RB RB
older JJR JJR
, , ,
many JJ JJ
become VBP VBP
widowed VBN JJ
. . .
<s>
But CC CC
even RB RB
among IN IN
those DT DT
aged VBN VBN
75 CD CD
and CC CC
older JJR JJR
, , ,
the DT DT
share NN NN
living NN VBG
with IN IN
a DT DT
spouse NN NN
rose VBD VBD
slightly RB RB
, , ,
to TO TO
40 CD CD
% NN NN
in IN IN
1988 CD CD
from IN IN
38 CD CD
% NN NN
in IN IN
1970 CD CD
. . .
<s>
Like IN IN
their PRP$ PRP$
younger JJR JJR
counterparts NNS NNS
, , ,
the DT DT
older JJR JJR
elderly JJ JJ
are VBP VBP
less RBR RBR
likely JJ JJ
to TO TO
live VB VB
with IN IN
other JJ JJ
relatives NNS NNS
. . .
<s>
Only RB RB
17 CD CD
% NN NN
of IN IN
those DT DT
aged VBN VBN
75 CD CD
and CC CC
older JJR JJR
lived VBD VBD
with IN IN
relatives NNS NNS
other JJ JJ
than IN IN
spouses NNS NNS
in IN IN
1988 CD CD
, , ,
down RB RB
from IN IN
26 CD CD
% NN NN
in IN IN
1970 CD CD
. . .
<s>
The DT DT
likelihood NN NN
of IN IN
living VBG VBG
alone RB RB
beyond IN IN
the DT DT
age NN NN
of IN IN
75 CD CD
has VBZ VBZ
increased VBN VBN
to TO TO
40 CD CD
% NN NN
from IN IN
32 CD CD
% NN NN
. . .
<s>
More JJR JJR
people NNS NNS
are VBP VBP
remaining VBG VBG
independent JJ JJ
longer RBR RBR
presumably RB RB
because IN IN
they PRP PRP
are VBP VBP
better JJR JJR
off RP RP
physically RB RB
and CC CC
financially RB RB
. . .
<s>
Careers NNS NNS
Count VBP VBP
Most JJS RBS
For IN IN
the DT DT
Well-to-Do NNP JJ
MANY NNP JJ
AFFLUENT : JJ
people NNS NNS
place VBP VBP
personal JJ JJ
success NN NN
and CC CC
money NN NN
above IN IN
family NN NN
. . .
<s>
At IN IN
least JJS JJS
that DT IN
's VBZ POS
what WP WP
a DT DT
survey NN NN
by IN IN
Ernst NNP NNP
& CC CC
Young NNP NNP
and CC CC
Yankelovich NNP NNP
, , ,
Clancy NNP NNP
, , ,
Shulman NNP NNP
indicates VBZ VBZ
. . .
<s>
Two-thirds NNS NNS
of IN IN
respondents NNS NNS
said VBD VBD
they PRP PRP
strongly RB RB
felt VBD VBD
the DT DT
need NN NN
to TO TO
be VB VB
successful JJ JJ
in IN IN
their PRP$ PRP$
jobs NNS NNS
, , ,
while IN IN
fewer JJR JJR
than IN IN
half NN NN
said VBD VBD
they PRP PRP
strongly RB RB
felt VBD VBD
the DT DT
need NN NN
to TO TO
spend VB VB
more JJR JJR
time NN NN
with IN IN
their PRP$ PRP$
families NNS NNS
. . .
<s>
Being VBG VBG
successful JJ JJ
in IN IN
careers NNS NNS
and CC CC
spending VBG VBG
the DT DT
money NN NN
they PRP PRP
make VBP VBP
are VBP VBP
top JJ JJ
priorities NNS NNS
for IN IN
this DT DT
group NN NN
. . .
<s>
Unlike IN IN
most JJS JJS
studies NNS NNS
of IN IN
the DT DT
affluent JJ JJ
market NN NN
, , ,
this DT DT
survey NN NN
excluded VBN VBD
the DT DT
super-rich : JJ
. . .
<s>
Average JJ JJ
household NN NN
income NN NN
for IN IN
the DT DT
sample NN NN
was VBD VBD
$ $ $
194,000 CD CD
, , ,
and CC CC
average JJ JJ
net JJ JJ
assets NNS NNS
were VBD VBD
reported VBN VBN
as IN IN
$ $ $
775,000 CD CD
. . .
<s>
The DT DT
goal NN NN
was VBD VBD
to TO TO
learn VB VB
about IN IN
one CD CD
of IN IN
today NN NN
's POS POS
fastest-growing JJS JJ
income NN NN
groups NNS NNS
, , ,
the DT DT
upper-middle JJ JJ
class NN NN
. . .
<s>
Although IN IN
they PRP PRP
represent VBP VBP
only RB RB
2 CD CD
% NN NN
of IN IN
the DT DT
population NN NN
, , ,
they PRP PRP
control VBP VBP
nearly RB RB
one-third NN NN
of IN IN
discretionary JJ JJ
income NN NN
. . .
<s>
Across IN IN
the DT DT
board NN NN
, , ,
these DT DT
consumers NNS NNS
value VBP VBP
quality NN NN
, , ,
buy VB VBP
what WP WP
they PRP PRP
like VBP VBP
rather RB RB
than IN IN
just RB RB
what WP WP
they PRP PRP
need VBP VBP
, , ,
and CC CC
appreciate VBP VBP
products NNS NNS
that WDT WDT
are VBP VBP
distinctive JJ JJ
. . .
<s>
Despite IN IN
their PRP$ PRP$
considerable JJ JJ
incomes NNS NNS
and CC CC
assets NNS NNS
, , ,
40 CD CD
% NN NN
of IN IN
the DT DT
respondents NNS NNS
in IN IN
the DT DT
study NN NN
do VBP VBP
n't RB RB
feel VB VB
financially RB RB
secure JJ JJ
, , ,
and CC CC
one-fourth NN NN
do VBP VBP
n't RB RB
feel VB VB
that IN IN
they PRP PRP
have VBP VBP
made VBN VBN
it PRP PRP
. . .
<s>
Twenty CD CD
percent NN NN
do VBP VBP
n't RB RB
even RB RB
feel VB VB
they PRP PRP
are VBP VBP
financially RB RB
well RB RB
off IN RP
. . .
<s>
Many JJ JJ
of IN IN
the DT DT
affluent JJ NN
are VBP VBP
n't RB RB
comfortable JJ JJ
with IN IN
themselves PRP PRP
, , ,
either RB RB
. . .
<s>
About IN RB
40 CD CD
% NN NN
do VBP VBP
n't RB RB
feel VB VB
they PRP PRP
're VBP VBP
more RBR RBR
able JJ JJ
than IN IN
others NNS NNS
. . .
<s>
While IN IN
twothirds NNS NNS
feel VBP VBP
some DT DT
guilt NN NN
about IN IN
being VBG VBG
affluent JJ NN
, , ,
only RB RB
25 CD CD
% NN NN
give VBP VBP
$ $ $
2,500 CD CD
or CC CC
more JJR JJR
to TO TO
charity NN NN
each DT DT
year NN NN
. . .
<s>
Thirty-five JJ CD
percent NN NN
attend VBP VBP
religious JJ JJ
services NNS NNS
regularly RB RB
; : :
at IN IN
the DT DT
same JJ JJ
time NN NN
, , ,
60 CD CD
% NN NN
feel NN VBP
that IN IN
in IN IN
life NN NN
one CD PRP
sometimes RB RB
has VBZ VBZ
to TO TO
compromise VB VB
one PRP PRP
's POS POS
principles NNS NNS
. . .
<s>
Odds NNS NNS
and CC CC
Ends NNS NNS
THE DT DT
NUMBER NN NN
of IN IN
women NNS NNS
and CC CC
minorities NNS NNS
who WP WP
hold VBP VBP
jobs NNS NNS
in IN IN
top JJ JJ
management NN NN
in IN IN
the DT DT
nation NN NN
's POS POS
largest JJS JJS
banks NNS NNS
has VBZ VBZ
more RBR RBR
than IN IN
doubled VBN VBN
since IN IN
1978 CD CD
. . .
<s>
The DT DT
American NNP NNP
Bankers NNP NNP
Association NNP NNP
says VBZ VBZ
that IN IN
women NNS NNS
make VBP VB
up RP RP
47 CD CD
% NN NN
of IN IN
officials NNS NNS
and CC CC
managers NNS NNS
in IN IN
the DT DT
top JJ JJ
50 CD CD
banks NNS NNS
, , ,
up RB RB
from IN IN
33 CD CD
% NN NN
in IN IN
1978 CD CD
. . .
<s>
The DT DT
share NN NN
of IN IN
minorities NNS NNS
in IN IN
those DT DT
positions NNS NNS
has VBZ VBZ
risen VBN VBN
to TO TO
16 CD CD
% NN NN
from IN IN
12 CD CD
% NN NN
... : :
. . .
<s>
Per-capita JJ JJ
personal JJ JJ
income NN NN
in IN IN
the DT DT
U.S. NNP NNP
grew VBD VBD
faster RBR RBR
than IN IN
inflation NN NN
last JJ JJ
year NN NN
, , ,
according VBG VBG
to TO TO
the DT DT
Bureau NNP NNP
of IN IN
Economic NNP NNP
Analysis NNP NNP
. . .
<s>
The DT DT
amount NN NN
of IN IN
income NN NN
divvied VBD VBN
up RP RP
for IN IN
each DT DT
man NN NN
, , ,
woman NN NN
and CC CC
child NN NN
was VBD VBD
$ $ $
16,489 CD CD
in IN IN
1988 CD CD
, , ,
up RB RB
6.6 CD CD
% NN NN
from IN IN
$ $ $
15,472 CD CD
in IN IN
1987 CD CD
. . .
<s>
Per IN IN
capita NNS NN
personal JJ JJ
income NN NN
ranged VBD VBD
from IN IN
$ $ $
11,116 CD CD
in IN IN
Mississippi NNP NNP
to TO TO
$ $ $
23,059 CD CD
in IN IN
Connecticut NNP NNP
... : :
. . .
<s>
There EX EX
are VBP VBP
13.1 CD CD
million CD CD
students NNS NNS
in IN IN
college NN NN
this DT DT
fall NN NN
, , ,
up RB RB
2 CD CD
% NN NN
from IN IN
1988 CD CD
, , ,
the DT DT
National NNP NNP
Center NNP NNP
for IN IN
Education NNP NNP
Statistics NNPS NNP
estimates VBZ NNS
. . .
<s>
About IN RB
54 CD CD
% NN NN
are VBP VBP
women NNS NNS
, , ,
and CC CC
44 CD CD
% NN NN
are VBP VBP
part-time JJ JJ
students NNS NNS
. . .
<s>
This DT DT
small JJ JJ
Dallas NNP NNP
suburb NN NN
's POS POS
got VBD VBD
trouble NN NN
. . .
<s>
Trouble NN NN
with IN IN
a DT DT
capital NN JJ
T : NN
and CC CC
that IN DT
rhymes NNS VBZ
with IN IN
P NNP NN
and CC CC
that DT DT
stands VBZ VBZ
for IN IN
pool NN NN
. . .
<s>
More JJR RBR
than IN IN
30 CD CD
years NNS NNS
ago RB RB
, , ,
Prof. NNP NNP
Harold NNP NNP
Hill NNP NNP
, , ,
the DT DT
con NN JJ
man NN NN
in IN IN
Meredith NNP NNP
Willson NNP NNP
's POS POS
`` `` ``
The DT DT
Music NNP NN
Man NNP NN
, , ,
'' '' ''
warned VBD VBD
the DT DT
citizens NNS NNS
of IN IN
River NNP NNP
City NNP NNP
, , ,
Iowa NNP NNP
, , ,
against IN IN
the DT DT
game NN NN
. . .
<s>
Now RB RB
kindred : JJ
spirits NNS NNS
on IN IN
Addison NNP NNP
's POS POS
town NN NN
council NN NN
have VBP VBP
barred VBN VBN
the DT DT
town NN NN
's POS POS
fanciest JJS JJS
hotel NN NN
, , ,
the DT DT
Grand NNP NNP
Kempinski NNP NNP
, , ,
from IN IN
installing VBG VBG
three CD CD
free JJ JJ
pool NN NN
tables NNS NNS
in IN IN
its PRP$ PRP$
new JJ JJ
lounge NN NN
. . .
<s>
Mayor NNP NNP
Lynn NNP NNP
Spruill NNP NNP
and CC CC
two CD CD
members NNS NNS
of IN IN
the DT DT
council NN NN
said VBD VBD
they PRP PRP
were VBD VBD
worried VBN JJ
about IN IN
setting VBG VBG
a DT DT
precedent NN NN
that WDT WDT
would MD MD
permit VB VB
pool NN NN
halls NNS NNS
along IN IN
Addison NNP NNP
's POS POS
main JJ JJ
street NN NN
. . .
<s>
And CC CC
the DT DT
mayor NN NN
, , ,
in IN IN
an DT DT
admonition NN NN
that WDT WDT
bears VBZ VBZ
a DT DT
rhythmic JJ JJ
resemblance NN NN
to TO TO
Prof. NNP NNP
Hill NNP NNP
's POS POS
, , ,
warned VBD VBD
that IN IN
`` `` ``
alcohol NN NN
leads VBZ VBZ
to TO TO
betting VBG NN
, , ,
which WDT WDT
leads VBZ VBZ
to TO TO
fights NNS NNS
. . .
<s>
'' '' ''
The DT DT
council NN NN
's POS POS
action NN NN
is VBZ VBZ
yet RB RB
another DT DT
blow NN NN
to TO TO
a DT DT
sport NN NN
that IN IN
its PRP$ PRP$
fans NNS NNS
claim VBP NN
has VBZ VBZ
been VBN VBN
maligned VBN VBN
unjustly : RB
for IN IN
years NNS NNS
. . .
<s>
`` `` ``
Obviously RB RB
they PRP PRP
're VBP VBP
not RB RB
in IN IN
touch NN NN
with IN IN
what WP WP
's VBZ VBZ
going VBG VBG
on RP RP
, , ,
'' '' ''
says VBZ VBZ
Tom NNP NNP
Manske NNP NNP
, , ,
vice NN NN
president NN NN
of IN IN
the DT DT
National NNP NNP
Pocket NNP NNP
Billiards NNP NNP
Association NNP NNP
. . .
<s>
Pool NNP NN
is VBZ VBZ
hot JJ JJ
in IN IN
New NNP NNP
York NNP NNP
and CC CC
Chicago NNP NNP
, , ,
he PRP PRP
insists VBZ VBZ
, , ,
where WRB WRB
`` `` ``
upscale JJ JJ
, , ,
suit-and-tie JJ JJ
places NNS NNS
'' '' ''
are VBP VBP
adding VBG VBG
tables NNS NNS
. . .
<s>
With IN IN
today NN NN
's POS POS
tougher JJR JJR
drunk JJ JJ
driving NN NN
laws NNS NNS
, , ,
he PRP PRP
adds VBZ VBZ
, , ,
`` `` ``
people NNS NNS
do VBP VBP
n't RB RB
want VB VB
to TO TO
just RB RB
sit VB VB
around IN RB
and CC CC
drink VB VB
. . .
<s>
'' '' ''
Besides IN IN
, , ,
rowdy JJ JJ
behavior NN NN
seems VBZ VBZ
unlikely JJ JJ
at IN IN
the DT DT
Grand NNP NNP
Kempinski NNP NNP
, , ,
where WRB WRB
rooms NNS NNS
average JJ VBP
$ $ $
200 CD CD
a DT DT
night NN NN
and CC CC
the DT DT
cheap JJ JJ
mixed JJ JJ
drinks NNS NNS
go VBP VBP
for IN IN
$ $ $
3.50 CD CD
a DT DT
pop NN NN
. . .
<s>
At IN IN
the DT DT
lounge NN NN
, , ,
manager NN NN
Elizabeth NNP NNP
Dyer NNP NNP
wo MD MD
n't RB RB
admit VB VB
patrons NNS NNS
in IN IN
jeans NNS NNS
, , ,
T-shirts NNS NNS
or CC CC
tennis NN NN
shoes NNS NNS
. . .
<s>
But CC CC
a DT DT
majority NN NN
of IN IN
the DT DT
Addison NNP NNP
council NN NN
did VBD VBD
n't RB RB
buy VB VB
those DT DT
arguments NNS NNS
. . .
<s>
Introducing VBG VBG
pool NN NN
, , ,
argued VBD VBD
Councilwoman NNP NNP
Riley NNP NNP
Reinker NNP NNP
, , ,
would MD MD
be VB VB
`` `` ``
dangerous JJ JJ
. . .
<s>
It PRP PRP
would MD MD
open VB VB
a DT DT
can NN NN
of IN IN
worms NNS NNS
. . .
<s>
'' '' ''
Addison NNP NNP
is VBZ VBZ
no DT DT
stranger NN NN
to TO TO
cans NNS NNS
of IN IN
worms NNS NNS
, , ,
either RB RB
. . .
<s>
After IN IN
its PRP$ PRP$
previous JJ JJ
mayor NN NN
committed VBD VBD
suicide NN NN
last JJ JJ
year NN NN
, , ,
an DT DT
investigation NN NN
disclosed VBD VBD
that IN IN
town NN NN
officials NNS NNS
regularly RB RB
voted VBD VBD
on IN IN
their PRP$ PRP$
own JJ JJ
projects NNS NNS
, , ,
gave VBD VBD
special JJ JJ
favors NNS NNS
to TO TO
developer NN NN
friends NNS NNS
and CC CC
dipped VBD VBD
into IN IN
the DT DT
town NN NN
's POS POS
coffers NNS NNS
for IN IN
trips NNS NNS
and CC CC
retreats NNS NNS
. . .
<s>
The DT DT
revelations NNS NNS
embarrassed JJ VBD
town NN NN
officials NNS NNS
, , ,
although IN IN
they PRP PRP
argued VBD VBD
that IN IN
the DT DT
problems NNS NNS
were VBD VBD
n't RB RB
as RB RB
severe JJ JJ
as IN IN
the DT DT
media NNS NNS
suggested VBD VBD
. . .
<s>
Now RB RB
comes VBZ VBZ
the DT DT
pool NN NN
flap NN NN
. . .
<s>
`` `` ``
I PRP PRP
think VBP VBP
there EX EX
's VBZ VBZ
some DT DT
people NNS NNS
worried VBD JJ
about IN IN
something NN NN
pretty RB RB
ridiculous JJ JJ
, , ,
'' '' ''
Councilman NNP NNP
John NNP NNP
Nolan NNP NNP
says VBZ VBZ
. . .
<s>
`` `` ``
I PRP PRP
thought VBD VBD
this DT DT
was VBD VBD
all DT DT
taken VBN VBN
care NN NN
of IN IN
in IN IN
` `` ``
The DT DT
Music NNP NN
Man NNP NN
. . .
<s>
The DT DT
only JJ JJ
thing NN NN
Robert NNP NNP
Goldberg NNP NNP
could MD MD
praise NN VB
about IN IN
CBS NNP NNP
's POS POS
new JJ JJ
show NN NN
`` `` ``
Island NNP NNP
Son NNP NNP
'' '' ''
( ( (
Leisure NN NNP
& CC CC
Arts NNS NNP
, , ,
Sept. NNP NNP
25 CD CD
) ) )
was VBD VBD
the DT DT
local JJ JJ
color NN NN
; : :
unfortunately RB RB
neither CC CC
he PRP PRP
nor CC CC
the DT DT
producers NNS NNS
of IN IN
the DT DT
show NN NN
have VBP VBP
done VBN VBN
their PRP$ PRP$
homework NN NN
. . .
<s>
For IN IN
instance NN NN
: : :
`` `` ``
Haole NNP FW
'' '' ''
( ( (
white JJ JJ
) ) )
is VBZ VBZ
not RB RB
the DT DT
ultimate JJ JJ
insult NN NN
; : :
`` `` ``
Mainland NNP JJ
haole NN FW
'' '' ''
is VBZ VBZ
. . .
<s>
Richard NNP NNP
Chamberlain NNP NNP
dresses NNS VBZ
as IN IN
a DT DT
`` `` ``
Mainland NNP JJ
haole : FW
, , ,
'' '' ''
tucking VBG VBG
in IN RP
a DT DT
Hawaiian JJ JJ
shirt NN NN
and CC CC
rolling VBG VBG
up RP RP
its PRP$ PRP$
long JJ JJ
sleeves NNS NNS
. . .
<s>
And CC CC
the DT DT
local JJ JJ
expression NN NN
for IN IN
brother NN NN
is VBZ VBZ
`` `` ``
brah : FW
, , ,
'' '' ''
not RB RB
`` `` ``
bruddah : FW
. . .
<s>
'' '' ''
And CC CC
even RB RB
if IN IN
a DT DT
nurse NN NN
would MD MD
wear VB VB
flowers NNS NNS
in IN IN
her PRP$ PRP$
hair NN NN
while IN NN
on IN IN
duty NN NN
, , ,
if IN IN
she PRP PRP
were VBD VBD
engaged VBN JJ
she PRP PRP
would MD MD
know VB VB
to TO TO
wear VB VB
them PRP PRP
behind IN IN
her PRP$ PRP
left NN JJ
, , ,
not RB RB
right JJ JJ
, , ,
ear NN NN
. . .
<s>
Sorry JJ JJ
, , ,
the DT DT
show NN NN
does VBZ VBZ
not RB RB
even RB RB
have VB VB
the DT DT
one CD CD
redeeming VBG JJ
quality NN NN
of IN IN
genuine JJ JJ
local JJ JJ
color NN NN
. . .
<s>
Anita NNP NNP
Davis NNP NNP
Of IN IN
all PDT DT
the DT DT
ethnic JJ JJ
tensions NNS NNS
in IN IN
America NNP NNP
, , ,
which WDT WDT
is VBZ VBZ
the DT DT
most RBS RBS
troublesome JJ JJ
right RB RB
now RB RB
? . .
<s>
A DT DT
good JJ JJ
bet NN NN
would MD MD
be VB VB
the DT DT
tension NN NN
between IN IN
blacks NNS NNPS
and CC CC
Jews NNPS NNPS
in IN IN
New NNP NNP
York NNP NNP
City NNP NNP
. . .
<s>
Or CC CC
so IN IN
it PRP PRP
must MD MD
seem VB VB
to TO TO
Jackie NNP NNP
Mason NNP NNP
, , ,
the DT DT
veteran JJ JJ
Jewish JJ JJ
comedian NN NN
appearing VBG VBG
in IN IN
a DT DT
new JJ JJ
ABC NNP NNP
sitcom NN NN
airing NN NN
on IN IN
Tuesday NNP NNP
nights NNS NNS
( ( (
9:30-10 CD CD
p.m. RB RB
EDT NNP NNP
) ) )
. . .
<s>
Not RB RB
only RB RB
is VBZ VBZ
Mr. NNP NNP
Mason NNP NNP
the DT DT
star NN NN
of IN IN
`` `` ``
Chicken NNP NNP
Soup NNP NNP
, , ,
'' '' ''
he PRP PRP
's VBZ VBZ
also RB RB
the DT DT
inheritor NN NN
of IN IN
a DT DT
comedic JJ JJ
tradition NN NN
dating VBG VBG
back RB RB
to TO TO
`` `` ``
Duck NN NNP
Soup NNP NNP
, , ,
'' '' ''
and CC CC
he PRP PRP
's VBZ VBZ
currently RB RB
a DT DT
man NN NN
in IN IN
hot JJ JJ
water NN NN
. . .
<s>
Here RB RB
, , ,
in IN IN
neutral JJ JJ
language NN NN
, , ,
is VBZ VBZ
the DT DT
gist NN NN
of IN IN
Mr. NNP NNP
Mason NNP NNP
's POS POS
remarks NNS NNS
, , ,
quoted VBD VBN
first RB RB
in IN IN
the DT DT
Village NNP NNP
Voice NNP NNP
while IN IN
he PRP PRP
was VBD VBD
a DT DT
paid VBN JJ
spokesman NN NN
for IN IN
the DT DT
Rudolph NNP NNP
Giuliani NNP NNP
mayoral JJ JJ
campaign NN NN
, , ,
and CC CC
then RB RB
in IN IN
Newsweek NNP NNP
after IN IN
he PRP PRP
and CC CC
the DT DT
campaign NN NN
parted VBD VBD
company NN NN
. . .
<s>
Mr. NNP NNP
Mason NNP NNP
said VBD VBD
that IN IN
many JJ JJ
Jewish JJ JJ
voters NNS NNS
feel VBP VBP
guilty JJ JJ
toward IN IN
blacks NNS NNS
, , ,
so IN IN
they PRP PRP
support VBP VBP
black JJ JJ
candidates NNS NNS
uncritically RB RB
. . .
<s>
He PRP PRP
said VBD VBD
that IN IN
many JJ JJ
black JJ JJ
voters NNS NNS
feel VBP VBP
bitter JJ JJ
about IN IN
racial JJ JJ
discrimination NN NN
, , ,
so IN IN
they PRP PRP
, , ,
too RB RB
, , ,
support NN VBP
black JJ JJ
candidates NNS NNS
uncritically RB RB
. . .
<s>
He PRP PRP
said VBD VBD
that IN IN
Jews NNPS NNPS
have VBP VBP
contributed VBN VBN
more JJR JJR
to TO TO
black JJ JJ
causes NNS NNS
over IN IN
the DT DT
years NNS NNS
than IN IN
vice NN FW
versa RB FW
. . .
<s>
Of IN IN
course NN NN
, , ,
Mr. NNP NNP
Mason NNP NNP
did VBD VBD
not RB RB
use VB VB
neutral JJ JJ
language NN NN
. . .
<s>
As IN IN
a DT DT
practitioner NN NN
of IN IN
ethnic JJ JJ
humor NN NN
from IN IN
the DT DT
old JJ JJ
days NNS NNS
on IN IN
the DT DT
Borscht NNP NNP
Belt NNP NNP
, , ,
live JJ JJ
television NN NN
and CC CC
the DT DT
nightclub NN NN
circuit NN NN
, , ,
Mr. NNP NNP
Mason NNP NNP
instinctively RB RB
reached VBD VBD
for IN IN
the DT DT
vernacular : NN
. . .
<s>
He PRP PRP
said VBD VBD
Jews NNPS NNPS
were VBD VBD
`` `` ``
sick JJ JJ
with IN IN
complexes NNS NNS
'' '' ''
; : :
and CC CC
he PRP PRP
called VBD VBD
David NNP NNP
Dinkins NNP NNP
, , ,
Mr. NNP NNP
Giuliani NNP NNP
's POS POS
black JJ JJ
opponent NN NN
, , ,
`` `` ``
a DT DT
fancy NN JJ
shvartze NN NN
with IN IN
a DT DT
mustache NN NN
. . .
<s>
'' '' ''
If IN IN
Mr. NNP NNP
Mason NNP NNP
had VBD VBD
used VBN VBN
less RBR RBR
derogatory JJ JJ
language NN NN
to TO TO
articulate VB VB
his PRP$ PRP$
amateur JJ JJ
analysis NN NN
of IN IN
the DT DT
voting VBG NN
behavior NN NN
of IN IN
his PRP$ PRP$
fellow JJ NN
New NNP NNP
Yorkers NNPS NNP
, , ,
would MD MD
the DT DT
water NN NN
be VB VB
quite RB RB
so RB RB
hot JJ JJ
? . .
<s>
It PRP PRP
probably RB RB
would MD MD
, , ,
because IN IN
few JJ JJ
or CC CC
none NN NN
of IN IN
the DT DT
people NNS NNS
upset VBN JJ
by IN IN
Mr. NNP NNP
Mason NNP NNP
's POS POS
remarks NNS NNS
have VBP VBP
bothered VBN VBN
to TO TO
distinguish VB VB
between IN IN
the DT DT
substance NN NN
of IN IN
his PRP$ PRP$
comments NNS NNS
and CC CC
the DT DT
fact NN NN
that IN IN
he PRP PRP
used VBD VBD
insulting JJ JJ
language NN NN
. . .
<s>
In IN IN
addition NN NN
, , ,
some DT DT
of IN IN
Mr. NNP NNP
Mason NNP NNP
's POS POS
critics NNS NNS
have VBP VBP
implied VBN VBN
that IN IN
his PRP$ PRP$
type NN NN
of IN IN
ethnic JJ JJ
humor NN NN
is VBZ VBZ
itself PRP PRP
a DT DT
form NN NN
of IN IN
racism NN NN
. . .
<s>
For IN IN
example NN NN
, , ,
the DT DT
New NNP NNP
York NNP NNP
state NN NN
counsel NN NN
for IN IN
the DT DT
NAACP NNP NNP
said VBD VBD
that IN IN
Mr. NNP NNP
Mason NNP NNP
is VBZ VBZ
`` `` ``
like IN IN
a DT DT
dinosaur NN NN
. . .
<s>
People NNS NNS
are VBP VBP
fast RB RB
leaving VBG VBG
the DT DT
place NN NN
where WRB WRB
he PRP PRP
is VBZ VBZ
stuck VBN VBN
. . .
<s>
'' '' ''
These DT DT
critics NNS NNS
fail VBP VBP
to TO TO
distinguish VB VB
between IN IN
the DT DT
type NN NN
of IN IN
ethnic JJ JJ
humor NN NN
that WDT WDT
aims VBZ VBZ
at IN IN
disparaging VBG VBG
another DT DT
group NN NN
, , ,
such JJ JJ
as IN IN
`` `` ``
Polish JJ JJ
jokes NNS NNS
'' '' ''
; : :
and CC CC
the DT DT
type NN NN
that WDT WDT
is VBZ VBZ
double-edged JJ JJ
, , ,
aiming VBG VBG
inward : RB
as RB RB
well RB RB
as IN IN
outward : RB
. . .
<s>
The DT DT
latter JJ JJ
typically RB RB
is VBZ VBZ
the DT DT
humor NN NN
of IN IN
the DT DT
underdog NN NN
, , ,
and CC CC
it PRP PRP
was VBD VBD
perfected VBN VBN
by IN IN
both DT DT
blacks NNS NNPS
and CC CC
Jews NNPS NNPS
on IN IN
the DT DT
minstrel NN NN
and CC CC
vaudeville : NN
stage NN NN
as IN IN
a DT DT
means NN NN
of IN IN
mocking VBG VBG
their PRP$ PRP$
white JJ JJ
and CC CC
gentile JJ JJ
audiences NNS NNS
along IN IN
with IN IN
themselves PRP PRP
. . .
<s>
In IN IN
the DT DT
hands NNS NNS
of IN IN
a DT DT
zealot NN NN
like IN IN
Lenny NNP NNP
Bruce NNP NNP
, , ,
this DT DT
double-edged JJ JJ
blade NN NN
could MD MD
cut VB VB
both DT DT
the DT DT
self NN NN
and CC CC
the DT DT
audience NN NN
to TO TO
ribbons NNS NNS
. . .
<s>
But CC CC
wielded VBN VBN
by IN IN
a DT DT
pro JJ NN
like IN IN
Jackie NNP NNP
Mason NNP NNP
, , ,
it PRP PRP
is VBZ VBZ
a DT DT
constructive JJ JJ
form NN NN
of IN IN
mischief NN NN
. . .
<s>
Why WRB WRB
constructive JJ JJ
? . .
<s>
Because IN IN
despite IN IN
all PDT PDT
the DT DT
media NNS NNS
prattle VBP NN
about IN IN
comedy NN NN
and CC CC
politics NNS NNS
not RB RB
mixing : VBG
, , ,
they PRP PRP
are VBP VBP
similar JJ JJ
in IN IN
one CD CD
respect NN NN
: : :
Both DT DT
can MD MD
serve VB VB
as IN IN
mechanisms NNS NNS
for IN IN
easing VBG VBG
tensions NNS NNS
and CC CC
facilitating VBG VBG
the DT DT
co-existence NN NN
of IN IN
groups NNS NNS
in IN IN
conflict NN NN
. . .
<s>
That DT DT
's VBZ VBZ
why WRB WRB
it PRP PRP
's VBZ VBZ
dangerous JJ JJ
to TO TO
have VB VB
well-intentioned JJ JJ
thought VBN NN
police NN NNS
, , ,
on IN IN
college NN NN
campuses NNS NNS
and CC CC
elsewhere RB RB
, , ,
taboo JJ VB
all DT DT
critical JJ JJ
mention NN NN
of IN IN
group NN NN
differences NNS NNS
. . .
<s>
As IN IN
Elizabeth NNP NNP
Kristol NNP NNP
wrote VBD VBD
in IN IN
the DT DT
New NNP NNP
York NNP NNP
Times NNP NNP
just RB RB
before IN IN
the DT DT
Mason NNP NNP
donnybrook NN NN
, , ,
`` `` ``
Perhaps RB RB
intolerance : NN
would MD MD
not RB RB
boil NN VB
over IN RP
with IN IN
such JJ JJ
intensity NN NN
if IN IN
honest JJ JJ
differences NNS NNS
were VBD VBD
allowed VBN VBN
to TO TO
simmer : VB
. . .
<s>
'' '' ''
The DT DT
question NN NN
is VBZ VBZ
, , ,
if IN IN
group NN NN
conflicts NNS NNS
still RB RB
exist VBP VBP
( ( (
as IN IN
undeniably RB RB
they PRP PRP
do VBP VBP
) ) )
, , ,
and CC CC
if IN IN
Mr. NNP NNP
Mason NNP NNP
's POS POS
type NN NN
of IN IN
ethnic JJ JJ
humor NN NN
is VBZ VBZ
passe JJ JJ
, , ,
then RB RB
what WP WP
other JJ JJ
means NNS NNS
do VBP VBP
we PRP PRP
have VB VB
for IN IN
letting VBG VBG
off RP RP
steam NN NN
? . .
<s>
Do VBP VB
n't RB RB
say VB VB
the DT DT
TV NN NN
sitcom NN NN
, , ,
because IN IN
that DT DT
happens VBZ VBZ
to TO TO
be VB VB
a DT DT
genre NN NN
that IN IN
, , ,
in IN IN
its PRP$ PRP$
desperate JJ JJ
need NN NN
to TO TO
attract VB VB
everybody NN NN
and CC CC
offend VB VB
nobody NN NN
, , ,
resembles VBZ VBZ
politics NNS NNS
more RBR RBR
than IN IN
it PRP PRP
does VBZ VBZ
comedy NN NN
. . .
<s>
It PRP PRP
is VBZ VBZ
true JJ JJ
that IN IN
the DT DT
best JJS JJS
sitcoms NNS NNS
do VBP VBP
allow VB VB
group NN NN
differences NNS NNS
to TO TO
simmer VB VB
: : :
yuppies NNS NNS
vs. FW IN
blue-collar JJ JJ
Bostonians NNPS NNPS
in IN IN
`` `` ``
Cheers NNP NNP
'' '' ''
; : :
children NNS NNS
vs. CC IN
adults NNS NNS
in IN IN
`` `` ``
The DT DT
Cosby NNP NNP
Show NNP NNP
. . .
<s>
'' '' ''
But CC CC
these DT DT
are VBP VBP
not RB RB
the DT DT
differences NNS NNS
that WDT WDT
make VBP VBP
headlines NNS NNS
. . .
<s>
In IN IN
`` `` ``
Chicken NNP NNP
Soup NNP NNP
, , ,
'' '' ''
Mr. NNP NNP
Mason NNP NNP
plays VBZ VBZ
Jackie NNP NNP
, , ,
a DT DT
Jewish NNP JJ
bachelor NN NN
courting VBG VBG
Maddie NNP NNP
( ( (
Lynn NNP NNP
Redgrave NNP NNP
) ) )
, , ,
an DT DT
Irish JJ JJ
widow NN NN
and CC CC
mother NN NN
of IN IN
three CD CD
, , ,
against IN IN
the DT DT
wishes NNS NNS
of IN IN
his PRP$ PRP$
mother NN NN
( ( (
Rita NNP NNP
Karin NNP NNP
) ) )
and CC CC
her PRP$ PRP$
brother NN NN
Michael NNP NNP
( ( (
Brandon NNP NNP
Maggart NNP NNP
) ) )
. . .
<s>
It PRP PRP
's VBZ POS
worth JJ JJ
noting VBG VBG
that IN IN
both DT DT
disapproving JJ JJ
relatives NNS NNS
are VBP VBP
immigrants NNS NNS
. . .
<s>
At IN IN
least JJS JJS
, , ,
they PRP PRP
both DT DT
speak VBP VBP
with IN IN
strong JJ JJ
accents NNS NNS
, , ,
as IN IN
do VBP VBP
Jackie NNP NNP
and CC CC
Maddie NNP NNP
. . .
<s>
It PRP PRP
could MD MD
n't RB RB
be VB VB
more RBR RBR
obvious JJ JJ
that IN IN
`` `` ``
Chicken NNP NNP
Soup NNP NNP
'' '' ''
is VBZ VBZ
being VBG VBG
made VBN VBN
from IN IN
an DT DT
old JJ JJ
recipe NN NN
. . .
<s>
And CC CC
a DT DT
safe JJ JJ
one CD CD
-- : :
imagine VBP VB
if IN IN
the DT DT
romance NN NN
in IN IN
question NN NN
were VBD VBD
between IN IN
an DT DT
Orthodox NNP NNP
Jew NNP NNP
and CC CC
a DT DT
member NN NN
of IN IN
the DT DT
Nation NNP NNP
of IN IN
Islam NNP NNP
. . .
<s>
Back RB RB
in IN IN
the DT DT
1920s CD NNS
, , ,
the DT DT
play NN NN
and CC CC
movie NN NN
versions NNS NNS
of IN IN
`` `` ``
Abie NNP NNP
's POS POS
Irish NNP NNP
Rose NNP NNP
'' '' ''
made VBD VBD
the DT DT
theme NN NN
of IN IN
courtship NN NN
between IN IN
the DT DT
assimilated JJ JJ
offspring NN NN
of IN IN
Jewish JJ JJ
and CC CC
Irish JJ JJ
immigrants NNS NNS
so RB RB
popular JJ JJ
that IN IN
its PRP$ PRP$
author NN NN
, , ,
Anne NNP NNP
Nichols NNP NNP
, , ,
lost VBD VBD
a DT DT
plagiarism NN NN
suit NN NN
on IN IN
the DT DT
grounds NNS NNS
that IN IN
the DT DT
plot NN NN
has VBZ VBZ
entered VBN VBN
the DT DT
public JJ JJ
domain NN NN
. . .
<s>
And CC CC
it PRP PRP
has VBZ VBZ
remained VBN VBN
there RB RB
, , ,
as IN IN
evidenced VBN VBN
by IN IN
its PRP$ PRP$
reappearance NN NN
in IN IN
a DT DT
1972 CD CD
CBS NNP NNP
sitcom NN NN
called VBN VBN
`` `` ``
Bridget NNP NNP
Loves VBZ NNP
Bernie NNP NNP
, , ,
'' '' ''
whose WP$ WP$
sole JJ JJ
distinction NN NN
was VBD VBD
that IN IN
it PRP PRP
led VBD VBD
to TO TO
the DT DT
real-life JJ JJ
marriage NN NN
of IN IN
Meredith NNP NNP
Baxter NNP NNP
and CC CC
David NNP NNP
Birney NNP NNP
. . .
<s>
Clearly RB RB
, , ,
the DT DT
question NN NN
with IN IN
`` `` ``
Chicken NNP NNP
Soup NNP NNP
'' '' ''
is VBZ VBZ
not RB RB
whether IN IN
the DT DT
pot NN NN
will MD MD
boil NN VB
over RB RP
, , ,
but CC CC
whether IN IN
it PRP PRP
will MD MD
simmer VB VB
at IN IN
all DT DT
. . .
<s>
So RB IN
far RB RB
, , ,
the DT DT
bubbles NNS NNS
have VBP VBP
been VBN VBN
few JJ JJ
and CC CC
far RB RB
between IN RB
. . .
<s>
Part NN NN
of IN IN
the DT DT
problem NN NN
is VBZ VBZ
the DT DT
tendency NN NN
of IN IN
all DT DT
sitcoms NNS NNS
, , ,
ever RB RB
since IN IN
the DT DT
didactic JJ JJ
days NNS NNS
of IN IN
Norman NNP NNP
Lear NNP NNP
, , ,
to TO TO
preach VBP VB
about IN IN
social JJ JJ
issues NNS NNS
. . .
<s>
To TO TO
some DT DT
extent NN NN
, , ,
this DT DT
tendency NN NN
emerges VBZ VBZ
whenever WRB WRB
the DT DT
show NN NN
tries VBZ VBZ
to TO TO
enlighten VB VB
us PRP PRP
about IN IN
ethnic JJ JJ
stereotypes NNS NNS
by IN IN
reversing VBG VBG
them PRP PRP
. . .
<s>
For IN IN
instance NN NN
, , ,
Michael NNP NNP
dislikes NN VBZ
Jackie NNP NNP
not RB RB
because IN IN
he PRP PRP
's VBZ VBZ
a DT DT
shrewd JJ JJ
Jewish JJ JJ
businessman NN NN
, , ,
but CC CC
because IN IN
he PRP PRP
quits VBZ VBZ
his PRP$ PRP$
well-paying JJ JJ
job NN NN
as IN IN
a DT DT
salesman NN NN
in IN IN
order NN NN
to TO TO
become VB VB
a DT DT
social JJ JJ
worker NN NN
. . .
<s>
Even RB RB
more RBR RBR
problematic JJ JJ
is VBZ VBZ
the DT DT
incompatibility NN NN
between IN IN
sitcom NN NN
preachiness NN NN
and CC CC
Mr. NNP NNP
Mason NNP NNP
's POS POS
comic JJ JJ
persona NN NN
. . .
<s>
The DT DT
best JJS JJS
moments NNS NNS
in IN IN
the DT DT
show NN NN
occur VBP VBP
at IN IN
the DT DT
beginning NN NN
and CC CC
the DT DT
end NN NN
( ( (
and CC CC
occasionally RB RB
in IN IN
the DT DT
middle NN NN
) ) )
, , ,
when WRB WRB
Mr. NNP NNP
Mason NNP NNP
slips VBZ VBZ
into IN IN
his PRP$ PRP$
standup NN JJ
mode NN NN
and CC CC
starts VBZ NNS
meting VBG VBG
out RP RP
that IN DT
old-fashioned JJ JJ
Jewish JJ JJ
mischief NN NN
to TO TO
other JJ JJ
people NNS NNS
as RB RB
well RB RB
as IN IN
to TO TO
himself PRP PRP
. . .
<s>
But CC CC
too RB RB
often RB RB
, , ,
these DT DT
routines NNS NNS
lack VBP VBP
spark VB NN
because IN IN
this DT DT
sitcom NN NN
, , ,
like IN IN
all DT DT
sitcoms NNS NNS
, , ,
is VBZ VBZ
timid JJ JJ
about IN IN
confronting VBG VBG
Mr. NNP NNP
Mason NNP NNP
's POS POS
stock NN NN
in IN IN
trade NN NN
- : :
ethnic JJ JJ
differences NNS NNS
. . .
<s>
I PRP PRP
'm VBP VBP
not RB RB
suggesting VBG VBG
that IN IN
the DT DT
producers NNS NNS
start VBP VB
putting VBG VBG
together RB RB
episodes NNS NNS
about IN IN
topics NNS NNS
like IN IN
the DT DT
Catholic-Jewish : JJ
dispute NN NN
over IN IN
the DT DT
Carmelite NNP JJ
convent NN NN
at IN IN
Auschwitz NNP NNP
. . .
<s>
That DT DT
issue NN NN
, , ,
like IN IN
racial JJ JJ
tensions NNS NNS
in IN IN
New NNP NNP
York NNP NNP
City NNP NNP
, , ,
will MD MD
have VB VB
to TO TO
cool VB VB
down RP RP
, , ,
not RB RB
heat VB VB
up RP RP
, , ,
before IN IN
it PRP PRP
can MD MD
simmer VB VB
. . .
<s>
But CC CC
I PRP PRP
am VBP VBP
suggesting VBG VBG
that IN IN
they PRP PRP
stop VBP VB
requiring VBG VBG
Mr. NNP NNP
Mason NNP NNP
to TO TO
interrupt VB VB
his PRP$ PRP$
classic JJ JJ
shtik NN NN
with IN IN
some DT DT
line NN NN
about IN IN
`` `` ``
caring VBG VBG
for IN IN
other JJ JJ
people NNS NNS
'' '' ''
that WDT WDT
would MD MD
sound VB VB
shmaltzy : NN
on IN IN
the DT DT
lips NNS NNS
of IN IN
Miss NNP NNP
America NNP NNP
. . .
<s>
At IN IN
your PRP$ PRP$
age NN NN
, , ,
Jackie NNP NNP
, , ,
you PRP PRP
ought MD MD
to TO TO
know VB VB
that IN IN
you PRP PRP
ca MD MD
n't RB RB
make VB VB
soup NN NN
without IN IN
turning VBG VBG
up RP RP
the DT DT
flame NN NN
. . .
<s>
The DT DT
official JJ JJ
White NNP NNP
House NNP NNP
reaction NN NN
to TO TO
a DT DT
plunge NN NN
in IN IN
stock NN NN
prices NNS NNS
has VBZ VBZ
a DT DT
60-year JJ JJ
history NN NN
of IN IN
calm JJ JJ
, , ,
right RB RB
up RP IN
through IN IN
Friday NNP NNP
. . .
<s>
Treasury NNP NNP
Secretary NNP NNP
Nicholas NNP NNP
Brady NNP NNP
said VBD VBD
in IN IN
a DT DT
statement NN NN
Friday NNP NNP
that IN IN
the DT DT
stock-market NN NN
decline NN NN
`` `` ``
does VBZ VBZ
n't RB RB
signal VB VB
any DT DT
fundamental JJ JJ
change NN NN
in IN IN
the DT DT
condition NN NN
of IN IN
the DT DT
economy NN NN
. . .
<s>
'' '' ''
`` `` ``
The DT DT
economy NN NN
, , ,
'' '' ''
he PRP PRP
added VBD VBD
, , ,
`` `` ``
remains VBZ VBZ
well-balanced JJ JJ
and CC CC
the DT DT
outlook NN NN
is VBZ VBZ
for IN IN
continued VBN JJ
moderate JJ JJ
growth NN NN
. . .
<s>
'' '' ''
Sound JJ VB
familiar JJ JJ
? . .
<s>
Here RB RB
's POS VBZ
what WP WP
Ronald NNP NNP
Reagan NNP NNP
said VBD VBD
after IN IN
the DT DT
1987 CD CD
crash NN NN
: : :
`` `` ``
The DT DT
underlying VBG JJ
economy NN NN
remains VBZ VBZ
sound JJ JJ
. . .
<s>
There EX EX
is VBZ VBZ
nothing NN NN
wrong JJ JJ
with IN IN
the DT DT
economy NN NN
... : :
all PDT PDT
the DT DT
indices NNS NNS
are VBP VBP
up RP RB
. . .
<s>
'' '' ''
Heard VBN VBN
that IN DT
before IN RB
? . .
<s>
After IN IN
the DT DT
1929 CD CD
crash NN NN
, , ,
Herbert NNP NNP
Hoover NNP NNP
said VBD VBD
: : :
`` `` ``
The DT DT
fundamental JJ JJ
business NN NN
of IN IN
the DT DT
country NN NN
... : :
is VBZ VBZ
on IN IN
a DT DT
sound JJ JJ
and CC CC
prosperous JJ JJ
basis NN NN
. . .
<s>
James NNP NNP
Robinson NNP NNP
, , ,
57 CD CD
years NNS NNS
old JJ JJ
, , ,
was VBD VBD
elected VBN VBN
president NN NN
and CC CC
chief JJ JJ
executive JJ JJ
officer NN NN
of IN IN
this DT DT
maker NN NN
of IN IN
magnetic JJ JJ
recording NN NN
heads NNS NNS
for IN IN
disk NN NN
drives NNS NNS
. . .
<s>
He PRP PRP
has VBZ VBZ
been VBN VBN
president NN NN
and CC CC
chief JJ JJ
executive JJ JJ
officer NN NN
of IN IN
Amperex NNP NNP
Electronics NNP NNP
Corp. NNP NNP
, , ,
a DT DT
division NN NN
of IN IN
North JJ NNP
American NNP NNP
Philips NNP NNP
Corp. NNP NNP
, , ,
itself PRP PRP
a DT DT
subsidiary NN NN
of IN IN
N.V NNP NNP
. . .
<s>
Philips NNP NNP
of IN IN
the DT DT
Netherlands NNP NNPS
. . .
<s>
Charles NNP NNP
J. NNP NNP
Lawson NNP NNP
Jr. NNP NNP
, , ,
68 CD CD
, , ,
who WP WP
had VBD VBD
been VBN VBN
acting VBG JJ
chief JJ JJ
executive NN NN
since IN IN
June NNP NNP
14 CD CD
, , ,
will MD MD
continue VB VB
as IN IN
chairman NN NN
. . .
<s>
The DT DT
former JJ JJ
president NN NN
and CC CC
chief JJ JJ
executive NN NN
, , ,
Eric NNP NNP
W. NNP NNP
Markrud NNP NNP
, , ,
resigned VBD VBD
in IN IN
June NNP NNP
. . .
<s>
The DT DT
Senate NNP NNP
's POS POS
decision NN NN
to TO TO
approve VB VB
a DT DT
bare-bones JJ JJ
deficit-reduction NN NN
bill NN NN
without IN IN
a DT DT
capital-gains NNS NNS
tax NN NN
cut NN NN
still RB RB
leaves VBZ VBZ
open JJ JJ
the DT DT
possibility NN NN
of IN IN
enacting VBG VBG
a DT DT
gains NNS NNS
tax NN NN
reduction NN NN
this DT DT
year NN NN
. . .
<s>
Late RB RB
Friday NNP NNP
night NN NN
, , ,
the DT DT
Senate NNP NNP
voted VBD VBD
87-7 CD CD
to TO TO
approve VB VB
an DT DT
estimated VBN JJ
$ $ $
13.5 CD CD
billion CD CD
measure NN NN
that WDT WDT
had VBD VBD
been VBN VBN
stripped VBN VBN
of IN IN
hundreds NNS NNS
of IN IN
provisions NNS NNS
that WDT WDT
would MD MD
have VB VB
widened VBN VBN
, , ,
rather RB RB
than IN IN
narrowed VBN VBN
, , ,
the DT DT
federal JJ JJ
budget NN NN
deficit NN NN
. . .
<s>
Lawmakers NNS NNS
drastically RB RB
streamlined JJ VBD
the DT DT
bill NN NN
to TO TO
blunt JJ VB
criticism NN NN
that IN IN
it PRP PRP
was VBD VBD
bloated JJ JJ
with IN IN
special-interest JJ NN
tax NN NN
breaks NNS NNS
and CC CC
spending NN NN
increases NNS NNS
. . .
<s>
`` `` ``
We PRP PRP
're VBP VBP
putting VBG VBG
a DT DT
deficit-reduction JJ NN
bill NN NN
back RB RB
in IN IN
the DT DT
category NN NN
of IN IN
being VBG VBG
a DT DT
deficit-reduction JJ NN
bill NN NN
, , ,
'' '' ''
said VBD VBD
Senate NNP NNP
Budget NNP NNP
Committee NNP NNP
Chairman NNP NNP
James NNP NNP
Sasser NNP NNP
( ( (
D. NNP NNP
, , ,
Tenn NNP NNP
. . .
<s>
) ) )
. . .
<s>
But CC CC
Senate NNP NNP
supporters NNS NNS
of IN IN
the DT DT
trimmer : JJR
legislation NN NN
said VBD VBD
that IN IN
other JJ JJ
bills NNS NNS
would MD MD
soon RB RB
be VB VB
moving VBG VBG
through IN IN
Congress NNP NNP
that WDT WDT
could MD MD
carry VB VB
some DT DT
of IN IN
the DT DT
measures NNS NNS
that WDT WDT
had VBD VBD
been VBN VBN
cast VBN VBN
aside RB RB
, , ,
including VBG VBG
a DT DT
capital-gains NNS NNS
tax NN NN
cut NN NN
. . .
<s>
In IN IN
addition NN NN
, , ,
the DT DT
companion NN JJ
deficit-reduction NN NN
bill NN NN
already RB RB
passed VBN VBN
by IN IN
the DT DT
House NNP NNP
includes VBZ VBZ
a DT DT
capital-gains NNS NNS
provision NN NN
. . .
<s>
House-Senate JJ NNP
negotiations NNS NNS
are VBP VBP
likely JJ JJ
to TO TO
begin VB VB
at IN IN
midweek JJ NN
and CC CC
last JJ VB
for IN IN
a DT DT
while NN NN
. . .
<s>
`` `` ``
No DT DT
one NN NN
can MD MD
predict VB VB
exactly RB RB
what WP WP
will MD MD
happen VB VB
on IN IN
the DT DT
House NNP NNP
side NN NN
, , ,
'' '' ''
said VBD VBD
Senate NNP NNP
Minority NNP NNP
Leader NNP NNP
Robert NNP NNP
Dole NNP NNP
( ( (
R. NNP NNP
, , ,
Kan NNP NNP
. . .
<s>
) ) )
. . .
<s>
But CC CC
, , ,
he PRP PRP
added VBD VBD
, , ,
`` `` ``
I PRP PRP
believe VBP VBP
Republicans NNPS NNPS
and CC CC
Democrats NNPS NNPS
will MD MD
work VB VB
together RB RB
to TO TO
get VB VB
capital-gains NNS NNS
reform NN NN
this DT DT
year NN NN
. . .
<s>
'' '' ''
White NNP NNP
House NNP NNP
Budget NNP NNP
Director NNP NNP
Richard NNP NNP
Darman NNP NNP
told VBD VBD
reporters NNS NNS
yesterday NN RB
that IN IN
the DT DT
administration NN NN
would MD MD
n't RB RB
push VB VB
to TO TO
keep VB VB
the DT DT
capital-gains NNS NNS
cut NN NN
in IN IN
the DT DT
final JJ JJ
version NN NN
of IN IN
the DT DT
bill NN NN
. . .
<s>
`` `` ``
We PRP PRP
do VBP VBP
n't RB RB
need VB VB
this DT DT
as IN IN
a DT DT
way NN NN
to TO TO
get VB VB
capital NN NN
gains NNS NNS
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
House NNP NNP
Budget NNP NNP
Committee NNP NNP
Chairman NNP NNP
Leon NNP NNP
Panetta NNP NNP
( ( (
D. NNP NNP
, , ,
Calif NNP NNP
. . .
<s>
) ) )
said VBD VBD
in IN IN
an DT DT
interview NN NN
, , ,
`` `` ``
If IN IN
that DT DT
's VBZ VBZ
the DT DT
signal NN NN
that WDT WDT
comes VBZ VBZ
from IN IN
the DT DT
White NNP NNP
House NNP NNP
, , ,
that WDT WDT
will MD MD
help VB VB
a DT DT
great JJ JJ
deal NN NN
. . .
<s>
'' '' ''
The DT DT
Senate NNP NNP
's POS POS
decision NN NN
was VBD VBD
a DT DT
setback NN NN
for IN IN
President NNP NNP
Bush NNP NNP
and CC CC
will MD MD
make VB VB
approval NN NN
of IN IN
a DT DT
capital-gains NNS NNS
tax NN NN
cut NN NN
less RBR RBR
certain JJ JJ
this DT DT
year NN NN
. . .
<s>
Opponents NNS NNS
of IN IN
the DT DT
cut NN NN
are VBP VBP
playing VBG VBG
hardball NN NN
. . .
<s>
Senate NNP NNP
Majority NNP NNP
Leader NNP NNP
George NNP NNP
Mitchell NNP NNP
( ( (
D. NNP NNP
, , ,
Maine NNP NNP
) ) )
said VBD VBD
he PRP PRP
was VBD VBD
`` `` ``
confident JJ JJ
'' '' ''
that IN IN
any DT DT
House-Senate NNP NNP
agreement NN NN
on IN IN
the DT DT
deficit-reduction JJ NN
legislation NN NN
would MD MD
n't RB RB
include VB VB
a DT DT
capital-gains NNS NNS
tax NN NN
cut NN NN
. . .
<s>
And CC CC
a DT DT
senior JJ JJ
aide NN NN
to TO TO
the DT DT
House NNP NNP
Ways NNPS NNP
and CC CC
Means NNP NNP
Committee NNP NNP
, , ,
where WRB WRB
tax NN NN
legislation NN NN
originates VBZ VBZ
, , ,
said VBD VBD
there EX EX
are VBP VBP
n't RB RB
any DT DT
`` `` ``
plans NNS NNS
to TO TO
produce VB VB
another DT DT
tax NN NN
bill NN NN
that WDT WDT
could MD MD
carry VB VB
a DT DT
gains NNS NNS
tax NN NN
cut NN NN
this DT DT
year NN NN
. . .
<s>
'' '' ''
One CD CD
obvious JJ JJ
place NN NN
to TO TO
attach VB VB
a DT DT
capital-gains NNS NNS
tax NN NN
cut NN NN
, , ,
and CC CC
perhaps RB RB
other JJ JJ
popular JJ JJ
items NNS NNS
stripped VBN VBN
from IN IN
the DT DT
deficit-reduction NN NN
bill NN NN
, , ,
is VBZ VBZ
the DT DT
legislation NN NN
to TO TO
raise VB VB
the DT DT
federal JJ JJ
borrowing NN NN
limit NN NN
. . .
<s>
Such JJ JJ
legislation NN NN
must MD MD
be VB VB
enacted VBN VBN
by IN IN
the DT DT
end NN NN
of IN IN
the DT DT
month NN NN
. . .
<s>
The DT DT
Senate NNP NNP
bill NN NN
was VBD VBD
pared VBN VBN
back RB RB
in IN IN
an DT DT
attempt NN NN
to TO TO
speed VB VB
deficit-reduction NN NN
through IN IN
Congress NNP NNP
. . .
<s>
Because IN IN
the DT DT
legislation NN NN
has VBZ VBZ
n't RB RB
been VBN VBN
completed VBN VBN
, , ,
President NNP NNP
Bush NNP NNP
has VBZ VBZ
until IN IN
midnight NN NN
tonight NN NN
to TO TO
enact VB VB
across-the-board JJ JJ
spending NN NN
cuts NNS NNS
mandated VBN VBN
by IN IN
the DT DT
Gramm-Rudman NNP NNP
deficit-reduction NN NN
law NN NN
. . .
<s>
Senators NNS NNS
hope VBP VBP
that IN IN
the DT DT
need NN NN
to TO TO
avoid VB VB
those DT DT
cuts NNS NNS
will MD MD
pressure VB VB
the DT DT
House NNP NNP
to TO TO
agree VB VB
to TO TO
the DT DT
streamlined JJ JJ
bill NN NN
. . .
<s>
The DT DT
House NNP NNP
appears VBZ VBZ
reluctant JJ JJ
to TO TO
join VB VB
the DT DT
senators NNS NNS
. . .
<s>
A DT DT
key NN NN
is VBZ VBZ
whether IN IN
House NNP NNP
Republicans NNPS NNPS
are VBP VBP
willing JJ JJ
to TO TO
acquiesce VB VB
to TO TO
their PRP$ PRP$
Senate NNP NNP
colleagues NNS NNS
' POS POS
decision NN NN
to TO TO
drop VB VB
many JJ JJ
pet JJ JJ
provisions NNS NNS
. . .
<s>
`` `` ``
Although IN IN
I PRP PRP
am VBP VBP
encouraged VBN VBN
by IN IN
the DT DT
Senate NNP NNP
action NN NN
, , ,
'' '' ''
said VBD VBD
Chairman NNP NNP
Dan NNP NNP
Rostenkowski NNP NNP
( ( (
D. NNP NNP
, , ,
Ill NNP NNP
. . .
<s>
) ) )
of IN IN
the DT DT
House NNP NNP
Ways NNPS NNP
and CC CC
Means NNP NNP
Committee NNP NNP
, , ,
`` `` ``
it PRP PRP
is VBZ VBZ
uncertain JJ JJ
whether IN IN
a DT DT
clean JJ JJ
bill NN NN
can MD MD
be VB VB
achieved VBN VBN
in IN IN
the DT DT
upcoming JJ JJ
conference NN NN
with IN IN
the DT DT
Senate NNP NNP
. . .
<s>
'' '' ''
Another DT DT
big JJ JJ
question NN NN
hovering VBG VBG
over IN IN
the DT DT
debate NN NN
is VBZ VBZ
what WP WP
President NNP NNP
Bush NNP NNP
thinks VBZ VBZ
. . .
<s>
He PRP PRP
has VBZ VBZ
been VBN VBN
resisting VBG VBG
a DT DT
stripped-down JJ JJ
bill NN NN
without IN IN
a DT DT
guaranteed JJ JJ
vote NN NN
on IN IN
his PRP$ PRP$
capital-gains NNS NNS
tax NN NN
cut NN NN
. . .
<s>
But CC CC
Republican JJ JJ
senators NNS NNS
saw VBD VBD
no DT DT
way NN NN
to TO TO
overcome VB VB
a DT DT
procedural JJ JJ
hurdle NN NN
and CC CC
garner VB VB
the DT DT
60 CD CD
votes NNS NNS
needed VBN VBN
to TO TO
win VB VB
the DT DT
capital-gains NNS NNS
issue NN NN
on IN IN
the DT DT
floor NN NN
, , ,
so IN IN
they PRP PRP
went VBD VBD
ahead RB RB
with IN IN
the DT DT
streamlined JJ JJ
bill NN NN
. . .
<s>
The DT DT
Senate NNP NNP
bill NN NN
was VBD VBD
stripped VBN VBN
of IN IN
many JJ JJ
popular JJ JJ
, , ,
though IN IN
revenue-losing JJ JJ
, , ,
provisions NNS NNS
, , ,
a DT DT
number NN NN
of IN IN
which WDT WDT
are VBP VBP
included VBN VBN
in IN IN
the DT DT
House-passed JJ JJ
bill NN NN
. . .
<s>
These DT DT
include VBP VBP
a DT DT
child-care JJ NN
initiative NN NN
and CC CC
extensions NNS NNS
of IN IN
soon-to-expire JJ JJ
tax NN NN
breaks NNS NNS
for IN IN
low-income JJ JJ
housing NN NN
and CC CC
research-and-development NN NN
expenditures NNS NNS
. . .
<s>
Also RB RB
missing VBG VBG
from IN IN
the DT DT
Senate NNP NNP
bill NN NN
is VBZ VBZ
the DT DT
House NNP NNP
's POS POS
repeal NN NN
of IN IN
a DT DT
law NN NN
, , ,
called VBN VBN
Section NN NNP
89 CD CD
, , ,
that IN WDT
compels VBZ VBZ
companies NNS NNS
to TO TO
give VB VB
rank-and-file JJ JJ
workers NNS NNS
comparable JJ JJ
health NN NN
benefits NNS NNS
to TO TO
top VB JJ
paid VBN VBN
executives NNS NNS
. . .
<s>
One CD CD
high-profile JJ JJ
provision NN NN
that WDT WDT
was VBD VBD
originally RB RB
in IN IN
the DT DT
Senate NNP NNP
bill NN NN
but CC CC
was VBD VBD
cut VBN VBN
out RP RP
because IN IN
it PRP PRP
lost VBD VBD
money NN NN
was VBD VBD
the DT DT
proposal NN NN
by IN IN
Chairman NNP NNP
Lloyd NNP NNP
Bentsen NNP NNP
( ( (
D. NNP NNP
, , ,
Texas NNP NNP
) ) )
of IN IN
the DT DT
Senate NNP NNP
Finance NNP NNP
Committee NNP NNP
to TO TO
expand VB VB
the DT DT
deduction NN NN
for IN IN
individual JJ JJ
retirement NN NN
accounts NNS NNS
. . .
<s>
Mr. NNP NNP
Bentsen NNP NNP
said VBD VBD
he PRP PRP
hopes VBZ VBZ
the DT DT
Senate NNP NNP
will MD MD
consider VB VB
that DT DT
measure NN NN
soon RB RB
. . .
<s>
To TO TO
the DT DT
delight NN NN
of IN IN
some DT DT
doctors NNS NNS
, , ,
the DT DT
bill NN NN
dropped VBD VBD
a DT DT
plan NN NN
passed VBN VBN
by IN IN
the DT DT
Finance NNP NNP
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that WDT WDT
would MD MD
have VB VB
overhauled VBN VBN
the DT DT
entire JJ JJ
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system NN NN
under IN IN
Medicare NNP NNP
. . .
<s>
To TO TO
the DT DT
detriment NN NN
of IN IN
many JJ JJ
low-income JJ JJ
people NNS NNS
, , ,
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to TO TO
boost VB VB
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, , ,
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in IN IN
rural JJ JJ
areas NNS NNS
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Asked VBN VBN
why WRB WRB
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so RB RB
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, , ,
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Mexico NNP NNP
Sen. NNP NNP
Pete NNP NNP
Domenici NNP NNP
, , ,
the DT DT
ranking JJ JJ
Republican NNP NNP
on IN IN
the DT DT
Senate NNP NNP
Budget NNP NNP
Committee NNP NNP
, , ,
said VBD VBD
, , ,
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We PRP PRP
're VBP VBP
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like IN IN
idiots NNS NNS
. . .
<s>
Things NNS NNS
had VBD VBD
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gone VBN VBN
too RB RB
far RB RB
. . .
<s>
'' '' ''
Sen. NNP NNP
Dole NNP NNP
said VBD VBD
that IN IN
the DT DT
move NN NN
required VBN VBD
sacrifice NN NN
by IN IN
every DT DT
senator NN NN
. . .
<s>
It PRP PRP
worked VBD VBD
, , ,
others NNS NNS
said VBD VBD
, , ,
because IN IN
there EX EX
were VBD VBD
no DT DT
exceptions NNS NNS
: : :
all DT DT
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provisions NNS NNS
were VBD VBD
stricken VBN VBN
. . .
<s>
The DT DT
Senate NNP NNP
also RB RB
dropped VBD VBD
a DT DT
plan NN NN
by IN IN
its PRP$ PRP$
Finance NNP NNP
Committee NNP NNP
that WDT WDT
would MD MD
have VB VB
increased VBN VBN
the DT DT
income NN NN
threshold NN NN
beyond IN IN
which WDT WDT
senior JJ JJ
citizens NNS NNS
have VBP VBP
their PRP$ PRP$
Social NNP NNP
Security NNP NNP
benefits NNS NNS
reduced VBD VBN
. . .
<s>
In IN IN
addition NN NN
, , ,
the DT DT
bill NN NN
dropped VBD VBD
a DT DT
plan NN NN
to TO TO
make VB VB
permanent JJ JJ
a DT DT
3 CD CD
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excise JJ NN
tax NN NN
on IN IN
long-distance JJ JJ
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calls NNS NNS
. . .
<s>
It PRP PRP
no RB RB
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includes VBZ VBZ
a DT DT
plan NN NN
that WDT WDT
would MD MD
have VB VB
repealed VBN VBN
what WP WP
remains VBZ VBZ
of IN IN
the DT DT
completed-contract JJ JJ
method NN NN
of IN IN
accounting NN NN
, , ,
which WDT WDT
is VBZ VBZ
used VBN VBN
by IN IN
military JJ JJ
contractors NNS NNS
to TO TO
reduce VB VB
their PRP$ PRP$
tax NN NN
burden NN NN
. . .
<s>
It PRP PRP
also RB RB
drops VBZ VBZ
a DT DT
provision NN NN
that WDT WDT
would MD MD
have VB VB
permitted VBN VBN
corporations NNS NNS
to TO TO
use VB VB
excess JJ JJ
pension NN NN
funds NNS NNS
to TO TO
pay VB VB
health NN NN
benefits NNS NNS
for IN IN
current JJ JJ
retirees NNS NNS
. . .
<s>
Also RB RB
stricken VBN VBN
was VBD VBD
a DT DT
fivefold RB JJ
increase NN NN
in IN IN
the DT DT
maximum NN JJ
Occupational NNP NNP
Safety NNP NNP
and CC CC
Health NNP NNP
Administration NNP NNP
penalties NNS NNS
, , ,
which WDT WDT
would MD MD
have VB VB
raised VBN VBN
$ $ $
65 CD CD
million CD CD
in IN IN
fiscal JJ JJ
1990 CD CD
. . .
<s>
A DT DT
provision NN NN
that WDT WDT
would MD MD
have VB VB
made VBN VBN
the DT DT
Social NNP NNP
Security NNP NNP
Administration NNP NNP
an DT DT
independent JJ JJ
agency NN NN
was VBD VBD
excised VBN VBN
. . .
<s>
The DT DT
approval NN NN
of IN IN
the DT DT
Senate NNP NNP
bill NN NN
was VBD VBD
especially RB RB
sweet JJ JJ
for IN IN
Sen. NNP NNP
Mitchell NNP NNP
, , ,
who WP WP
had VBD VBD
proposed VBN VBN
the DT DT
streamlining NN NN
. . .
<s>
Mr. NNP NNP
Mitchell NNP NNP
's POS POS
relations NNS NNS
with IN IN
Budget NNP NNP
Director NNP NNP
Darman NNP NNP
, , ,
who WP WP
pushed VBD VBD
for IN IN
a DT DT
capital-gains NNS NNS
cut NN NN
to TO TO
be VB VB
added VBN VBN
to TO TO
the DT DT
measure NN NN
, , ,
have VBP VBP
been VBN VBN
strained VBN VBN
since IN IN
Mr. NNP NNP
Darman NNP NNP
chose VBD VBD
to TO TO
bypass VB VB
the DT DT
Maine NNP NNP
Democrat NNP NNP
and CC CC
deal VB VB
with IN IN
other JJ JJ
lawmakers NNS NNS
earlier RBR RBR
this DT DT
year NN NN
during IN IN
a DT DT
dispute NN NN
over IN IN
drug NN NN
funding NN NN
in IN IN
the DT DT
fiscal JJ JJ
1989 CD CD
supplemental JJ JJ
spending NN NN
bill NN NN
. . .
<s>
The DT DT
deficit NN NN
reduction NN NN
bill NN NN
contains VBZ VBZ
$ $ $
5.3 CD CD
billion CD CD
in IN IN
tax NN NN
increases NNS NNS
in IN IN
fiscal JJ JJ
1990 CD CD
, , ,
and CC CC
$ $ $
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billion CD CD
over IN IN
five CD CD
years NNS NNS
. . .
<s>
The DT DT
revenue-raising JJ JJ
provisions NNS NNS
, , ,
which WDT WDT
affect VBP VBP
mostly RB RB
corporations NNS NNS
, , ,
would MD MD
: : :
-- : :
Prevent VB VB
companies NNS NNS
that WDT WDT
have VBP VBP
made VBN VBN
leveraged JJ JJ
buy-outs NNS NNS
from IN IN
getting VBG VBG
federal JJ JJ
tax NN NN
refunds NNS NNS
resulting VBG VBG
from IN IN
losses NNS NNS
caused VBN VBN
by IN IN
interest NN NN
payments NNS NNS
on IN IN
debt NN NN
issued VBN VBN
to TO TO
finance VB VB
the DT DT
buy-outs NNS NNS
, , ,
effective JJ JJ
Aug. NNP NNP
2 CD CD
, , ,
1989 CD CD
. . .
<s>
-- : :
Require : VB
mutual JJ JJ
funds NNS NNS
to TO TO
include VB VB
in IN IN
their PRP$ PRP$
taxable JJ JJ
income NN NN
dividends NNS NNS
paid VBN VBN
to TO TO
them PRP PRP
on IN IN
the DT DT
date NN NN
that IN IN
the DT DT
dividends NNS NNS
are VBP VBP
declared VBN VBN
rather RB RB
than IN IN
received VBN VBN
, , ,
effective JJ JJ
the DT DT
day NN NN
after IN IN
the DT DT
tax NN NN
bill NN NN
is VBZ VBZ
enacted VBN VBN
. . .
<s>
-- : :
Close VB VB
a DT DT
loophole NN NN
regarding VBG VBG
employee NN NN
stock NN NN
ownership NN NN
plans NNS NNS
, , ,
effective JJ JJ
June NNP NNP
6 CD CD
, , ,
1989 CD CD
, , ,
that WDT WDT
has VBZ VBZ
been VBN VBN
exploited VBN VBN
by IN IN
investment NN NN
bankers NNS NNS
in IN IN
corporate JJ JJ
takeovers NNS NNS
. . .
<s>
The DT DT
measure NN NN
repeals VBZ VBZ
a DT DT
50 CD CD
% NN NN
exclusion NN NN
given VBN VBN
to TO TO
banks NNS NNS
on IN IN
the DT DT
interest NN NN
from IN IN
loans NNS NNS
used VBN VBN
to TO TO
acquire VB VB
securities NNS NNS
for IN IN
an DT DT
ESOP NNP NNP
, , ,
if IN IN
the DT DT
ESOP NNP NNP
owns VBZ VBZ
less JJR JJR
than IN IN
30 CD CD
% NN NN
of IN IN
the DT DT
employer NN NN
's POS POS
stock NN NN
. . .
<s>
-- : :
Curb NNP VB
junk NN NN
bonds NNS NNS
by IN IN
ending VBG VBG
tax NN NN
benefits NNS NNS
for IN IN
certain JJ JJ
securities NNS NNS
, , ,
such JJ JJ
as IN IN
zero-coupon JJ JJ
bonds NNS NNS
, , ,
that IN WDT
postpone VB VBP
cash NN NN
interest NN NN
payments NNS NNS
. . .
<s>
-- : :
Raise NNP VB
$ $ $
851 CD CD
million CD CD
by IN IN
suspending VBG VBG
for IN IN
one CD CD
year NN NN
an DT DT
automatic JJ JJ
reduction NN NN
in IN IN
airport NN NN
and CC CC
airway NN NN
taxes NNS NNS
. . .
<s>
-- : :
Speed NN VB
up RP RP
the DT DT
collection NN NN
of IN IN
the DT DT
payroll NN NN
tax NN NN
from IN IN
large JJ JJ
companies NNS NNS
, , ,
effective JJ JJ
August NNP NNP
1990 CD CD
. . .
<s>
-- : :
Impose VB VB
a DT DT
tax NN NN
on IN IN
ozone-depleting JJ JJ
chemicals NNS NNS
, , ,
such JJ JJ
as IN IN
those DT DT
used VBN VBN
in IN IN
air NN NN
conditioners NNS NNS
and CC CC
in IN IN
Styrofoam NNP NNP
, , ,
beginning VBG VBG
at IN IN
$ $ $
1.10 CD CD
a DT DT
pound NN NN
starting VBG VBG
next JJ JJ
year NN NN
. . .
<s>
-- : :
Withhold : VB
income NN NN
taxes NNS NNS
from IN IN
the DT DT
paychecks NNS NNS
of IN IN
certain JJ JJ
farm NN NN
workers NNS NNS
currently RB RB
exempt JJ JJ
from IN IN
withholding VBG NN
. . .
<s>
-- : :
Change VB VB
the DT DT
collection NN NN
of IN IN
gasoline NN NN
excise NN NN
taxes NNS NNS
to TO TO
weekly JJ RB
from IN IN
semimonthly JJ RB
, , ,
effective JJ JJ
next JJ IN
year NN NN
. . .
<s>
-- : :
Restrict VB VB
the DT DT
ability NN NN
of IN IN
real JJ JJ
estate NN NN
owners NNS NNS
to TO TO
escape VB VB
taxes NNS NNS
by IN IN
swapping VBG VBG
one CD CD
piece NN NN
of IN IN
property NN NN
for IN IN
another DT DT
instead RB RB
of IN IN
selling VBG VBG
it PRP PRP
for IN IN
cash NN NN
. . .
<s>
-- : :
Increase VB VB
to TO TO
$ $ $
6 CD CD
a DT DT
person NN NN
from IN IN
$ $ $
3 CD CD
the DT DT
international JJ JJ
air-passenger NN NN
departure NN NN
tax NN NN
, , ,
and CC CC
impose VB VB
a DT DT
$ $ $
3-a-person JJ JJ
tax NN NN
on IN IN
international JJ JJ
departures NNS NNS
by IN IN
commercial JJ JJ
ships NNS NNS
. . .
<s>
The DT DT
measure NN NN
also RB RB
includes VBZ VBZ
spending NN NN
cuts NNS NNS
and CC CC
increases NNS NNS
in IN IN
federal JJ JJ
fees NNS NNS
. . .
<s>
Among IN IN
its PRP$ PRP$
provisions NNS NNS
: : :
-- : :
Reduction NN NNP
of IN IN
Medicare NNP NNP
spending NN NN
in IN IN
fiscal JJ JJ
1990 CD CD
by IN IN
some DT DT
$ $ $
2.8 CD CD
billion CD CD
, , ,
in IN IN
part NN NN
by IN IN
curbing VBG VBG
increases NNS NNS
in IN IN
reimbursements NNS NNS
to TO TO
physicians NNS NNS
. . .
<s>
The DT DT
plan NN NN
would MD MD
impose VB VB
a DT DT
brief JJ JJ
freeze NN NN
on IN IN
physician NN NN
fees NNS NNS
next JJ IN
year NN NN
. . .
<s>
-- : :
Removal NN NNP
of IN IN
the DT DT
U.S. NNP NNP
Postal NNP NNP
Service NNP NNP
's POS POS
operating VBG NN
budget NN NN
from IN IN
the DT DT
federal JJ JJ
budget NN NN
, , ,
reducing VBG VBG
the DT DT
deficit NN NN
by IN IN
$ $ $
1.77 CD CD
billion CD CD
. . .
<s>
A DT DT
similar JJ JJ
provision NN NN
is VBZ VBZ
in IN IN
the DT DT
House NNP NNP
version NN NN
. . .
<s>
-- : :
Authority NNP NNP
for IN IN
the DT DT
Federal NNP NNP
Aviation NNP NNP
Administration NNP NNP
to TO TO
raise VB VB
$ $ $
239 CD CD
million CD CD
by IN IN
charging VBG VBG
fees NNS NNS
for IN IN
commercial JJ JJ
airline-landing : JJ
rights NNS NNS
at IN IN
New NNP NNP
York NNP NNP
's POS POS
LaGuardia NNP NNP
and CC CC
John NNP NNP
F. NNP NNP
Kennedy NNP NNP
International NNP NNP
Airports NNPS NNP
, , ,
O'Hare NNP NNP
International NNP NNP
Airport NNP NNP
in IN IN
Chicago NNP NNP
and CC CC
National NNP NNP
Airport NNP NNP
in IN IN
Washington NNP NNP
. . .
<s>
-- : :
Increases : NNS
in IN IN
Nuclear NNP NNP
Regulatory NNP NNP
Commission NNP NNP
fees NNS NNS
totaling VBG VBG
$ $ $
54 CD CD
million CD CD
. . .
<s>
-- : :
Direction NN NN
to TO TO
the DT DT
U.S. NNP NNP
Coast NNP NNP
Guard NNP NNP
to TO TO
collect VB VB
$ $ $
50 CD CD
million CD CD
from IN IN
users NNS NNS
of IN IN
Coast NNP NNP
Guard NNP NNP
services NNS NNS
. . .
<s>
-- : :
Raising NNP VBG
an DT DT
additional JJ JJ
$ $ $
43 CD CD
million CD CD
by IN IN
increasing VBG VBG
existing VBG JJ
Federal NNP NNP
Communications NNPS NNP
Commission NNP NNP
fees NNS NNS
and CC CC
penalties NNS NNS
and CC CC
establishing VBG VBG
new JJ JJ
fees NNS NNS
for IN IN
amateur JJ JJ
radio NN NN
operators NNS NNS
, , ,
ship NN NN
stations NNS NNS
and CC CC
mobile JJ JJ
radio NN NN
facilities NNS NNS
. . .
<s>
John NNP NNP
E. NNP NNP
Yang NNP NNP
contributed VBD VBD
to TO TO
this DT DT
article NN NN
. . .
<s>
In IN IN
response NN NN
to TO TO
your PRP$ PRP$
overly RB RB
optimistic JJ JJ
, , ,
outdated JJ JJ
piece NN NN
on IN IN
how WRB WRB
long JJ RB
unemployment NN NN
lasts VBZ VBZ
( ( (
People NNS NNS
Patterns : NNS
, , ,
Sept. NNP NNP
20 CD CD
) ) )
: : :
I PRP PRP
am VBP VBP
in IN IN
the DT DT
communications NNS NN
field NN NN
, , ,
above IN IN
entry NN NN
level NN NN
. . .
<s>
I PRP PRP
was VBD VBD
laid VBN VBN
off RP RP
in IN IN
August NNP NNP
1988 CD CD
, , ,
and CC CC
after IN IN
a DT DT
thorough JJ JJ
and CC CC
exhausting JJ JJ
job NN NN
search NN NN
, , ,
was VBD VBD
hired VBN VBN
in IN IN
August NNP NNP
1989 CD CD
. . .
<s>
My PRP$ PRP$
unemployment NN NN
insurance NN NN
ran VBD VBD
out RP RP
before IN IN
I PRP PRP
found VBD VBD
a DT DT
job NN NN
; : :
I PRP PRP
found VBD VBD
cutbacks NNS NNS
and CC CC
layoffs NNS NNS
in IN IN
many JJ JJ
companies NNS NNS
. . .
<s>
The DT DT
statistics NNS NNS
quoted VBN VBN
by IN IN
the DT DT
`` `` ``
new JJ JJ
'' '' ''
Census NNP NNP
Bureau NNP NNP
report NN NN
( ( (
garnered VBD VBN
from IN IN
1984 CD CD
to TO TO
1986 CD CD
) ) )
are VBP VBP
out IN IN
of IN IN
date NN NN
, , ,
certainly RB RB
as IN IN
an DT DT
average NN NN
for IN IN
the DT DT
Northeast NNP NNP
, , ,
and CC CC
possibly RB RB
for IN IN
the DT DT
rest NN NN
of IN IN
the DT DT
country NN NN
. . .
<s>
I PRP PRP
think VBP VBP
what WP WP
bothered VBD VBD
me PRP PRP
most JJS RBS
about IN IN
the DT DT
piece NN NN
was VBD VBD
that IN IN
there EX EX
seemed VBD VBD
to TO TO
be VB VB
an DT DT
underlying JJ JJ
attitude NN NN
to TO TO
tell VB VB
your PRP$ PRP$
readers NNS NNS
all DT DT
is VBZ VBZ
well RB JJ
-- : :
if IN IN
you PRP PRP
're VBP VBP
getting VBG VBG
laid VBN VBN
off RP RP
do VBP VBP
n't RB RB
worry VB VB
, , ,
and CC CC
if IN IN
you PRP PRP
're VBP VBP
unemployed JJ JJ
, , ,
it PRP PRP
's VBZ VBZ
a DT DT
seller NN NN
's POS POS
market NN NN
. . .
<s>
To TO TO
top VB VB
it PRP PRP
off RP RP
, , ,
you PRP PRP
captioned VBD VBD
the DT DT
graph NN NN
showing VBG VBG
the DT DT
average JJ JJ
number NN NN
of IN IN
months NNS NNS
in IN IN
a DT DT
job NN NN
search NN NN
as IN IN
`` `` ``
Time NNP NN
Off IN RP
. . .
<s>
'' '' ''
Are VBP VBP
you PRP PRP
kidding : VBG
? . .
<s>
Looking VBG VBG
for IN IN
a DT DT
job NN NN
was VBD VBD
one CD CD
of IN IN
the DT DT
most RBS RBS
anxious JJ JJ
periods NNS NNS
of IN IN
my PRP$ PRP$
life NN NN
-- : :
and CC CC
is VBZ VBZ
for IN IN
most JJS JJS
people NNS NNS
. . .
<s>
Your PRP$ PRP$
paper NN NN
needs VBZ VBZ
a DT DT
serious JJ JJ
reality NN NN
check NN NN
. . .
<s>
Reva NNP NNP
Levin NNP NNP
Cambridge NNP NNP
, , ,
Mass NNP NNP
. . .
<s>
BULL NNP NNP
HN NNP NNP
INFORMATION NNP NNP
SYSTEMS NNP NNP
Inc. NNP NNP
is VBZ VBZ
a DT DT
U.S. NNP NNP
majority-owned JJ JJ
unit NN NN
of IN IN
Cie. NNP NNP
des NNP NNP
Machines NNP NNP
Bull NNP NNP
. . .
<s>
In IN IN
Friday NNP NNP
's POS POS
edition NN NN
, , ,
the DT DT
name NN NN
of IN IN
the DT DT
unit NN NN
was VBD VBD
misstated VBN VBN
. . .
<s>
Moody NNP NNP
's POS POS
Investors NNPS NNP
Service NNP NNP
said VBD VBD
it PRP PRP
reduced VBD VBD
its PRP$ PRP$
rating NN NN
on IN IN
$ $ $
165 CD CD
million CD CD
of IN IN
subordinated JJ JJ
debt NN NN
of IN IN
this DT DT
Beverly NNP NNP
Hills NNP NNP
, , ,
Calif. NNP NNP
, , ,
thrift NN NN
, , ,
citing VBG VBG
turmoil NN NN
in IN IN
the DT DT
market NN NN
for IN IN
low-grade : JJ
, , ,
high-yield JJ JJ
securities NNS NNS
. . .
<s>
The DT DT
agency NN NN
said VBD VBD
it PRP PRP
reduced VBD VBD
its PRP$ PRP$
rating NN NN
on IN IN
the DT DT
thrift NN NN
's POS POS
subordinated JJ JJ
debt NN NN
to TO TO
B-2 NNP JJ
from IN IN
Ba-2 NNP JJ
and CC CC
will MD MD
keep VB VB
the DT DT
debt NN NN
under IN IN
review NN NN
for IN IN
possible JJ JJ
further JJ JJ
downgrade NN NN
. . .
<s>
Columbia NNP NNP
Savings NNPS NNP
is VBZ VBZ
a DT DT
major JJ JJ
holder NN NN
of IN IN
so-called JJ JJ
junk NN NN
bonds NNS NNS
. . .
<s>
New JJ JJ
federal JJ JJ
legislation NN NN
requires VBZ VBZ
that IN IN
all DT DT
thrifts NNS NNS
divest VB VBP
themselves PRP PRP
of IN IN
such JJ JJ
speculative JJ JJ
securities NNS NNS
over IN IN
a DT DT
period NN NN
of IN IN
years NNS NNS
. . .
<s>
Columbia NNP NNP
Savings NNPS NNP
officials NNS NNS
were VBD VBD
n't RB RB
available JJ JJ
for IN IN
comment NN NN
on IN IN
the DT DT
downgrade NN NN
. . .
<s>
FRANKLIN NNP NNP
SAVINGS NNP NNP
ASSOCIATION NNP NNP
( ( (
Ottawa NNP NNP
, , ,
Kan. NNP NNP
) ) )
-- : :
Moody NNP NNP
's POS POS
Investors NNPS NNP
Service NNP NNP
Inc. NNP NNP
said VBD VBD
it PRP PRP
downgraded VBD VBD
its PRP$ PRP$
rating NN NN
to TO TO
B-2 NNP JJ
from IN IN
Ba-3 JJ JJ
on IN IN
less JJR JJR
than IN IN
$ $ $
20 CD CD
million CD CD
of IN IN
this DT DT
thrift NN NN
's POS POS
senior JJ JJ
subordinated JJ JJ
notes NNS NNS
. . .
<s>
The DT DT
rating NN NN
concern NN NN
said VBD VBD
Franklin NNP NNP
's POS POS
`` `` ``
troubled JJ JJ
diversification NN NN
record NN NN
in IN IN
the DT DT
securities NNS NNS
business NN NN
'' '' ''
was VBD VBD
one CD CD
reason NN NN
for IN IN
the DT DT
downgrade NN NN
, , ,
citing VBG VBG
the DT DT
troubles NNS NNS
at IN IN
its PRP$ PRP$
L.F. NNP NNP
Rothschild NNP NNP
subsidiary NN NN
and CC CC
the DT DT
possible JJ JJ
sale NN NN
of IN IN
other JJ JJ
subsidiaries NNS NNS
. . .
<s>
`` `` ``
They PRP PRP
perhaps RB RB
had VBD VBD
concern NN NN
that IN IN
we PRP PRP
were VBD VBD
getting VBG VBG
out IN IN
of IN IN
all PDT PDT
these DT DT
, , ,
'' '' ''
said VBD VBD
Franklin NNP NNP
President NNP NNP
Duane NNP NNP
H. NNP NNP
Hall NNP NNP
. . .
<s>
`` `` ``
I PRP PRP
think VBP VBP
it PRP PRP
was VBD VBD
a DT DT
little JJ JJ
premature JJ JJ
on IN IN
their PRP$ PRP$
part NN NN
. . .
<s>
Just RB RB
when WRB WRB
it PRP PRP
seemed VBD VBD
safe JJ JJ
to TO TO
go VB VB
back RB RB
into IN IN
stocks NNS NNS
, , ,
Wall NNP NNP
Street NNP NNP
suffered VBD VBD
another DT DT
severe JJ JJ
attack NN NN
of IN IN
nerves NNS NNS
. . .
<s>
Does VBZ VBZ
this DT DT
signal NN VB
another DT DT
Black NNP NNP
Monday NNP NNP
is VBZ VBZ
coming VBG VBG
? . .
<s>
Or CC CC
is VBZ VBZ
this DT DT
an DT DT
extraordinary JJ JJ
buying NN NN
opportunity NN NN
, , ,
just RB RB
like IN IN
Oct. NNP NNP
19 CD CD
, , ,
1987 CD CD
, , ,
eventually RB RB
turned VBD VBD
out RP RP
to TO TO
be VB VB
? . .
<s>
Here RB RB
's VBZ VBZ
what WP WP
several JJ JJ
leading VBG JJ
market NN NN
experts NNS NNS
and CC CC
money NN NN
managers NNS NNS
say VBP VBP
about IN IN
Friday NNP NNP
's POS POS
action NN NN
, , ,
what WP WP
happens VBZ VBZ
next JJ RB
and CC CC
what WP WP
investors NNS NNS
should MD MD
do VB VB
. . .
<s>
Joseph NNP NNP
Granville NNP NNP
. . .
<s>
`` `` ``
I PRP PRP
'm VBP VBP
the DT DT
only RB JJ
one PRP CD
who WP WP
said VBD VBD
there EX EX
would MD MD
be VB VB
an DT DT
October NNP NNP
massacre NN NN
, , ,
all DT RB
through IN IN
late JJ JJ
August NNP NNP
and CC CC
September NNP NNP
, , ,
'' '' ''
says VBZ VBZ
Mr. NNP NNP
Granville NNP NNP
, , ,
once RB RB
a DT DT
widely RB RB
followed VBN VBN
market NN NN
guru NN NN
and CC CC
still RB RB
a DT DT
well-known JJ JJ
newsletter NN NN
writer NN NN
. . .
<s>
`` `` ``
Everyone NN NN
will MD MD
tell VB VB
you PRP PRP
that IN IN
this DT DT
time NN NN
is VBZ VBZ
different JJ JJ
from IN IN
1987 CD CD
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
`` `` ``
Well UH RB
, , ,
in IN IN
some DT DT
ways NNS NNS
it PRP PRP
is VBZ VBZ
different JJ JJ
, , ,
but CC CC
technically RB RB
it PRP PRP
is VBZ VBZ
just RB RB
the DT DT
same JJ JJ
. . .
<s>
If IN IN
you PRP PRP
're VBP VBP
a DT DT
technician NN NN
, , ,
you PRP PRP
obey VBP VBP
the DT DT
signals NNS NNS
. . .
<s>
Right RB RB
now RB RB
they PRP PRP
're VBP VBP
telling VBG VBG
me PRP PRP
to TO TO
get VB VB
the DT DT
hell NN NN
out RP RP
and CC CC
stay VB VB
out RP RB
. . .
<s>
I PRP PRP
see VBP VBP
no DT DT
major JJ JJ
support NN NN
until IN IN
2200 CD CD
. . .
<s>
I PRP PRP
see VBP VBP
a DT DT
possibility NN NN
of IN IN
going VBG VBG
to TO TO
2200 CD CD
this DT DT
month NN NN
. . .
<s>
'' '' ''
Mr. NNP NNP
Granville NNP NNP
says VBZ VBZ
he PRP PRP
would MD MD
n't RB RB
even RB RB
think VB VB
of IN IN
buying VBG VBG
until IN IN
at IN IN
least JJS JJS
600 CD CD
to TO TO
700 CD CD
stocks NNS NNS
have VBP VBP
hit VBN VBN
52-week JJ JJ
lows NNS NNS
; : :
about IN RB
100 CD CD
stocks NNS NNS
hit VBD VBD
new JJ JJ
lows NNS NNS
Friday NNP NNP
. . .
<s>
`` `` ``
Most JJS JJS
people NNS NNS
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
, , ,
`` `` ``
have VBP VBP
no DT DT
idea NN NN
what WP WP
a DT DT
massacre NN NN
pattern NN NN
looks VBZ VBZ
like IN IN
. . .
<s>
'' '' ''
Elaine NNP NNP
Garzarelli NNP NNP
. . .
<s>
A DT DT
quantitative JJ JJ
analyst NN NN
with IN IN
Shearson NNP NNP
Lehman NNP NNP
Hutton NNP NNP
Inc. NNP NNP
, , ,
Ms. NNP NNP
Garzarelli NNP NNP
had VBD VBD
warned VBN VBN
clients NNS NNS
to TO TO
take VB VB
their PRP$ PRP$
money NN NN
out IN IN
of IN IN
the DT DT
market NN NN
before IN IN
the DT DT
1987 CD CD
crash NN NN
. . .
<s>
Friday NNP NNP
's POS POS
big JJ JJ
drop NN NN
, , ,
she PRP PRP
says VBZ VBZ
, , ,
`` `` ``
was VBD VBD
not RB RB
a DT DT
crash NN NN
. . .
<s>
This DT DT
was VBD VBD
an DT DT
October NNP NNP
massacre NN NN
'' '' ''
like IN IN
those DT DT
that WDT WDT
occurred VBD VBD
in IN IN
1978 CD CD
and CC CC
1979 CD CD
. . .
<s>
Now RB RB
, , ,
as IN IN
in IN IN
those DT DT
two CD CD
years NNS NNS
, , ,
her PRP$ PRP$
stock NN NN
market NN NN
indicators NNS NNS
are VBP VBP
positive JJ JJ
. . .
<s>
So RB IN
she PRP PRP
thinks VBZ VBZ
the DT DT
damage NN NN
will MD MD
be VB VB
short-lived JJ JJ
and CC CC
contained VBD JJ
. . .
<s>
`` `` ``
Those DT DT
corrections NNS NNS
lasted VBD VBD
one CD CD
to TO TO
four CD CD
weeks NNS NNS
and CC CC
took VBD VBD
the DT DT
market NN NN
10%-12 JJ CD
% NN NN
down RP RB
, , ,
'' '' ''
she PRP PRP
says VBZ VBZ
. . .
<s>
`` `` ``
This DT DT
is VBZ VBZ
exactly RB RB
the DT DT
same JJ JJ
thing NN NN
, , ,
as RB RB
far RB RB
as IN IN
I PRP PRP
'm VBP VBP
concerned VBN VBN
. . .
<s>
'' '' ''
Thus RB RB
, , ,
she PRP PRP
says VBZ VBZ
, , ,
if IN IN
the DT DT
Dow NNP NNP
Jones NNP NNP
Industrial NNP NNP
Average NNP NNP
dropped VBD VBD
below IN IN
2450 CD CD
, , ,
`` `` ``
It PRP PRP
would MD MD
just RB RB
be VB VB
a DT DT
fluke NN NN
. . .
<s>
My PRP$ PRP$
advice NN NN
is VBZ VBZ
to TO TO
buy VB VB
. . .
<s>
'' '' ''
As IN IN
she PRP PRP
calculates VBZ VBZ
it PRP PRP
, , ,
the DT DT
average JJ JJ
stock NN NN
now RB RB
sells VBZ VBZ
for IN IN
about RB RB
12.5 CD CD
times NNS NNS
companies NNS NNS
' POS POS
earnings NNS NNS
. . .
<s>
She PRP PRP
says VBZ VBZ
that IN DT
ratio NN NN
could MD MD
climb VB VB
to TO TO
14.5 CD CD
, , ,
given VBN VBN
current JJ JJ
interest NN NN
rates NNS NNS
, , ,
and CC CC
still RB RB
be VB VB
within IN IN
the DT DT
range NN NN
of IN IN
`` `` ``
fair JJ JJ
value NN NN
. . .
<s>
'' '' ''
Ned NNP NNP
Davis NNP NNP
. . .
<s>
Friday NNP NNP
's POS POS
fall NN NN
marks VBZ VBZ
the DT DT
start NN NN
of IN IN
a DT DT
bear NN NN
market NN NN
, , ,
says VBZ VBZ
Mr. NNP NNP
Davis NNP NNP
, , ,
president NN NN
of IN IN
Ned NNP NNP
Davis NNP NNP
Research NNP NNP
Inc NNP NNP
. . .
<s>
But CC CC
Mr. NNP NNP
Davis NNP NNP
, , ,
whose WP$ WP$
views NNS NNS
are VBP VBP
widely RB RB
respected VBN VBN
by IN IN
money NN NN
managers NNS NNS
, , ,
says VBZ VBZ
he PRP PRP
expects VBZ VBZ
no DT DT
1987-style JJ JJ
crash NN NN
. . .
<s>
`` `` ``
There EX EX
was VBD VBD
a DT DT
unique JJ JJ
combination NN NN
in IN IN
1987 CD CD
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
`` `` ``
Margin NN NN
debt NN NN
was VBD VBD
at IN IN
a DT DT
record NN JJ
high NN NN
. . .
<s>
There EX EX
was VBD VBD
tremendous JJ JJ
public JJ JJ
enthusiasm NN NN
for IN IN
stock NN NN
mutual JJ JJ
funds NNS NNS
. . .
<s>
The DT DT
main JJ JJ
thing NN NN
was VBD VBD
portfolio NN NN
insurance NN NN
, , ,
'' '' ''
a DT DT
mechanical JJ JJ
trading NN NN
system NN NN
intended VBN VBN
to TO TO
protect VB VB
an DT DT
investor NN NN
against IN IN
losses NNS NNS
. . .
<s>
`` `` ``
A DT DT
hundred CD CD
billion CD CD
dollars NNS NNS
in IN IN
stock NN NN
was VBD VBD
subject JJ JJ
'' '' ''
to TO TO
it PRP PRP
. . .
<s>
In IN IN
1987 CD CD
, , ,
such JJ JJ
selling NN NN
contributed VBD VBD
to TO TO
a DT DT
snowball NN NN
effect NN NN
. . .
<s>
Today NN NN
could MD MD
even RB RB
be VB VB
an DT DT
up RP JJ
day NN NN
, , ,
Mr. NNP NNP
Davis NNP NNP
says VBZ VBZ
, , ,
if IN IN
major JJ JJ
brokerage NN NN
firms NNS NNS
agree VBP VBP
to TO TO
refrain VB VB
from IN IN
program NN NN
trading NN NN
. . .
<s>
Over IN IN
the DT DT
next JJ JJ
several JJ JJ
months NNS NNS
, , ,
though RB RB
, , ,
he PRP PRP
says VBZ VBZ
things NNS NNS
look VB VBP
bad JJ JJ
. . .
<s>
`` `` ``
I PRP PRP
think VBP VBP
the DT DT
market NN NN
will MD MD
be VB VB
heading VBG VBG
down RP RB
into IN IN
November NNP NNP
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
`` `` ``
We PRP PRP
will MD MD
probably RB RB
have VB VB
a DT DT
year-end JJ JJ
rally NN NN
, , ,
and CC CC
then RB RB
go VB VB
down RP RB
again RB RB
. . .
<s>
Sort NN NN
of IN IN
a DT DT
two-step JJ JJ
bear NN NN
market NN NN
. . .
<s>
'' '' ''
He PRP PRP
expects VBZ VBZ
the DT DT
downturn NN NN
to TO TO
carry VB VB
the DT DT
Dow NNP NNP
Jones NNP NNP
Industrial NNP NNP
Average NNP NNP
down RB RB
to TO TO
around IN IN
2000 CD CD
sometime RB RB
next JJ JJ
year NN NN
. . .
<s>
`` `` ``
That DT DT
would MD MD
be VB VB
a DT DT
normal JJ JJ
bear NN NN
market NN NN
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
`` `` ``
I PRP PRP
guess VBP VBP
that DT IN
's VBZ POS
my PRP$ PRP$
forecast NN NN
. . .
<s>
'' '' ''
Leon NNP NNP
G. NNP NNP
Cooperman NNP NNP
. . .
<s>
`` `` ``
I PRP PRP
do VBP VBP
n't RB RB
think VB VB
the DT DT
market NN NN
is VBZ VBZ
going VBG VBG
through IN IN
another DT DT
October NNP NNP
'87 : CD
. . .
<s>
I PRP PRP
do VBP VBP
n't RB RB
think VB VB
that DT DT
's VBZ VBZ
the DT DT
case NN NN
at IN IN
all DT DT
, , ,
'' '' ''
says VBZ VBZ
Mr. NNP NNP
Cooperman NNP NNP
, , ,
a DT DT
partner NN NN
at IN IN
Goldman NNP NNP
, , ,
Sachs NNP NNP
& CC CC
Co. NNP NNP
and CC CC
chairman NN NN
of IN IN
Goldman NNP NNP
Sachs NNP NNP
Asset NNP NNP
Management NNP NNP
. . .
<s>
Mr. NNP NNP
Cooperman NNP NNP
sees VBZ VBZ
this DT DT
as IN IN
a DT DT
good JJ JJ
time NN NN
to TO TO
pick VB VB
up RP RP
bargains NNS NNS
, , ,
but CC CC
he PRP PRP
does VBZ VBZ
n't RB RB
think VB VB
there EX EX
's VBZ VBZ
any DT DT
need NN NN
to TO TO
rush VB VB
. . .
<s>
`` `` ``
I PRP PRP
expect VBP VBP
the DT DT
market NN NN
to TO TO
open VB VB
weaker JJR JJR
Monday NNP NNP
, , ,
but CC CC
then RB RB
it PRP PRP
should MD MD
find VB VB
some DT DT
stability NN NN
. . .
<s>
'' '' ''
He PRP PRP
ticks VBZ VBZ
off RP RP
several JJ JJ
major JJ JJ
differences NNS NNS
between IN IN
now RB RB
and CC CC
two CD CD
years NNS NNS
ago RB RB
. . .
<s>
Unlike IN IN
1987 CD CD
, , ,
interest NN NN
rates NNS NNS
have VBP VBP
been VBN VBN
falling VBG VBG
this DT DT
year NN NN
. . .
<s>
Unlike IN IN
1987 CD CD
, , ,
the DT DT
dollar NN NN
has VBZ VBZ
been VBN VBN
strong JJ JJ
. . .
<s>
And CC CC
unlike IN IN
1987 CD CD
, , ,
the DT DT
economy NN NN
does VBZ VBZ
n't RB RB
appear VB VB
to TO TO
be VB VB
in IN IN
any DT DT
danger NN NN
of IN IN
overheating VBG VBG
. . .
<s>
But CC CC
the DT DT
economy NN NN
's POS POS
slower JJR JJR
growth NN NN
this DT DT
year NN NN
also RB RB
means VBZ VBZ
the DT DT
outlook NN NN
for IN IN
corporate JJ JJ
profits NNS NNS
`` `` ``
is VBZ VBZ
n't RB RB
good JJ JJ
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
`` `` ``
So IN IN
it PRP PRP
's VBZ VBZ
a DT DT
very RB RB
mixed JJ JJ
bag NN NN
. . .
<s>
'' '' ''
Thus RB RB
, , ,
he PRP PRP
concludes VBZ VBZ
, , ,
`` `` ``
This DT DT
is VBZ VBZ
not RB RB
a DT DT
good JJ JJ
environment NN NN
to TO TO
be VB VB
fully RB RB
invested VBN VBN
'' '' ''
in IN IN
stocks NNS NNS
. . .
<s>
`` `` ``
If IN IN
I PRP PRP
had VBD VBD
come VBN VBN
into IN IN
Friday NNP NNP
on IN IN
margin NN NN
or CC CC
with IN IN
very RB RB
little JJ JJ
cash NN NN
in IN IN
the DT DT
portfolios NNS NNS
, , ,
I PRP PRP
would MD MD
not RB RB
do VB VB
any DT DT
buying NN NN
. . .
<s>
But CC CC
we PRP PRP
came VBD VBD
into IN IN
Friday NNP NNP
with IN IN
a DT DT
conservative JJ JJ
portfolio NN NN
, , ,
so IN IN
I PRP PRP
would MD MD
look VB VB
to TO TO
do VB VB
some DT DT
modest JJ JJ
buying NN NN
'' '' ''
on IN IN
behalf NN NN
of IN IN
clients NNS NNS
. . .
<s>
`` `` ``
We PRP PRP
're VBP VBP
going VBG VBG
to TO TO
look VB VB
for IN IN
some DT DT
of IN IN
the DT DT
better-known JJ JJ
companies NNS NNS
that WDT WDT
got VBD VBD
clocked : VBN
'' '' ''
Friday NNP NNP
. . .
<s>
John NNP NNP
Kenneth NNP NNP
Galbraith NNP NNP
. . .
<s>
`` `` ``
This DT DT
is VBZ VBZ
the DT DT
latest JJS JJS
manifestation NN NN
of IN IN
the DT DT
capacity NN NN
of IN IN
the DT DT
financial JJ JJ
community NN NN
for IN IN
recurrent : JJ
insanity NN NN
, , ,
'' '' ''
says VBZ VBZ
Mr. NNP NNP
Galbraith NNP NNP
, , ,
an DT DT
economist NN NN
. . .
<s>
`` `` ``
I PRP PRP
see VBP VBP
this DT DT
as IN IN
a DT DT
reaction NN NN
to TO TO
the DT DT
whole JJ JJ
junk NN NN
bond NN NN
explosion NN NN
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
`` `` ``
The DT DT
explosion NN NN
of IN IN
junk NN NN
bonds NNS NNS
and CC CC
takeovers NNS NNS
has VBZ VBZ
lodged VBN VBN
a DT DT
lot NN NN
of IN IN
insecure : JJ
securities NNS NNS
in IN IN
the DT DT
hands NNS NNS
of IN IN
investors NNS NNS
and CC CC
loaded VBD VBD
the DT DT
corporations NNS NNS
that WDT WDT
are VBP VBP
the DT DT
objects NNS NNS
of IN IN
takeovers NNS NNS
or CC CC
feared VBN JJ
takeovers NNS NNS
with IN IN
huge JJ JJ
amounts NNS NNS
of IN IN
debt NN NN
rather RB RB
than IN IN
equity NN NN
. . .
<s>
This DT DT
has VBZ VBZ
both DT CC
made VBN VBN
investors NNS NNS
uneasy JJ JJ
and CC CC
the DT DT
corporations NNS NNS
more RBR RBR
vulnerable JJ JJ
. . .
<s>
'' '' ''
Nevertheless RB RB
, , ,
he PRP PRP
says VBZ VBZ
a DT DT
depression NN NN
does VBZ VBZ
n't RB RB
appear VB VB
likely JJ JJ
. . .
<s>
`` `` ``
There EX EX
is VBZ VBZ
more JJR JJR
resiliency NN NN
in IN IN
the DT DT
economy NN NN
at IN IN
large JJ JJ
than IN IN
we PRP PRP
commonly RB RB
suppose VBP VBP
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
`` `` ``
It PRP PRP
takes VBZ VBZ
more JJR JJR
error NN NN
now RB RB
to TO TO
have VB VB
a DT DT
major JJ JJ
depression NN NN
than IN IN
back RB RB
in IN IN
the DT DT
Thirties NNPS NNS
-- : :
much RB RB
as IN IN
the DT DT
financial JJ JJ
community NN NN
and CC CC
the DT DT
government NN NN
may MD MD
try VB VB
. . .
<s>
'' '' ''
Mario NNP NNP
Gabelli NNP NNP
. . .
<s>
New NNP NNP
York NNP NNP
money NN NN
manager NN NN
Mario NNP NNP
Gabelli NNP NNP
, , ,
an DT DT
expert NN NN
at IN IN
spotting VBG VBG
takeover NN NN
candidates NNS NNS
, , ,
says VBZ VBZ
that IN IN
takeovers NNS NNS
are VBP VBP
n't RB RB
totally RB RB
gone VBN VBN
. . .
<s>
`` `` ``
Companies NNS NNS
are VBP VBP
still RB RB
going VBG VBG
to TO TO
buy VB VB
companies NNS NNS
around IN IN
the DT DT
world NN NN
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
Examples NNS NNS
are VBP VBP
`` `` ``
Ford NNP NNP
looking VBG VBG
at IN IN
Jaguar NNP NNP
, , ,
BellSouth NNP NNP
looking VBG VBG
at IN IN
LIN NNP NNP
Broadcasting NNP NNP
. . .
<s>
'' '' ''
These DT DT
sorts NNS NNS
of IN IN
takeovers NNS NNS
do VBP VBP
n't RB RB
require VB VB
junk NN NN
bonds NNS NNS
or CC CC
big JJ JJ
bank NN NN
loans NNS NNS
to TO TO
finance VB VB
them PRP PRP
, , ,
so IN IN
Mr. NNP NNP
Gabelli NNP NNP
figures VBZ NNS
they PRP PRP
will MD MD
continue VB VB
. . .
<s>
`` `` ``
The DT DT
market NN NN
was VBD VBD
up RB RB
35 CD CD
% NN NN
since IN IN
( ( (
President NNP NNP
) ) )
Bush NNP NNP
took VBD VBD
office NN NN
, , ,
'' '' ''
Mr. NNP NNP
Gabelli NNP NNP
says VBZ VBZ
, , ,
so RB IN
a DT DT
correction NN NN
was VBD VBD
to TO TO
be VB VB
expected VBN VBN
. . .
<s>
He PRP PRP
thinks VBZ VBZ
another DT DT
crash NN NN
is VBZ VBZ
`` `` ``
unlikely JJ JJ
, , ,
'' '' ''
and CC CC
says VBZ VBZ
he PRP PRP
was VBD VBD
`` `` ``
nibbling : VBG
at IN IN
'' '' ''
selected VBN JJ
stocks NNS NNS
during IN IN
Friday NNP NNP
's POS POS
plunge NN NN
. . .
<s>
`` `` ``
Stocks NNS NNS
that WDT WDT
were VBD VBD
thrown VBN VBN
out RP RP
just RB RB
on IN IN
an DT DT
emotional JJ JJ
basis NN NN
are VBP VBP
a DT DT
great JJ JJ
opportunity NN NN
( ( (
this DT DT
) ) )
week NN NN
for IN IN
guys NNS NNS
like IN IN
me PRP PRP
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
Jim NNP NNP
Rogers NNP NNP
. . .
<s>
`` `` ``
It PRP PRP
seems VBZ VBZ
to TO TO
me PRP PRP
that IN IN
this DT DT
is VBZ VBZ
the DT DT
pin NN NN
that WDT WDT
has VBZ VBZ
finally RB RB
pricked VBN VBN
the DT DT
balloon NN NN
, , ,
'' '' ''
says VBZ VBZ
Mr. NNP NNP
Rogers NNP NNP
, , ,
a DT DT
professor NN NN
of IN IN
finance NN NN
at IN IN
Columbia NNP NNP
University NNP NNP
and CC CC
former JJ JJ
co-manager NN NN
of IN IN
one CD CD
of IN IN
the DT DT
most RBS RBS
successful JJ JJ
hedge NN NN
funds NNS NNS
in IN IN
history NN NN
, , ,
Quantum NNP NNP
Fund NNP NNP
. . .
<s>
He PRP PRP
sees VBZ VBZ
`` `` ``
economic JJ JJ
problems NNS NNS
, , ,
financial JJ JJ
problems NNS NNS
'' '' ''
ahead RB RB
for IN IN
the DT DT
U.S. NNP NNP
, , ,
with IN IN
a DT DT
fairly RB RB
strong JJ JJ
possibility NN NN
of IN IN
a DT DT
recession NN NN
. . .
<s>
`` `` ``
Friday NNP NNP
you PRP PRP
could MD MD
n't RB RB
sell VB VB
dollars NNS NNS
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
Dealers NNS NNS
`` `` ``
would MD MD
give VB VB
you PRP PRP
a DT DT
quote NN NN
, , ,
but CC CC
then RB RB
refuse VB VB
to TO TO
make VB VB
the DT DT
trade NN NN
. . .
<s>
'' '' ''
If IN IN
the DT DT
dollar NN NN
stays VBZ VBZ
weak JJ JJ
, , ,
he PRP PRP
says VBZ VBZ
, , ,
that WDT WDT
will MD MD
add VB VB
to TO TO
inflationary JJ JJ
pressures NNS NNS
in IN IN
the DT DT
U.S. NNP NNP
and CC CC
make VB VB
it PRP PRP
hard JJ JJ
for IN IN
the DT DT
Federal NNP NNP
Reserve NNP NNP
Board NNP NNP
to TO TO
ease VB VB
interest NN NN
rates NNS NNS
very RB RB
much RB RB
. . .
<s>
Mr. NNP NNP
Rogers NNP NNP
wo MD MD
n't RB RB
decide VB VB
what WP WP
to TO TO
do VB VB
today NN NN
until IN IN
he PRP PRP
sees VBZ VBZ
how WRB WRB
the DT DT
London NNP NNP
and CC CC
Tokyo NNP NNP
markets NNS NNS
go VBP VBP
. . .
<s>
He PRP PRP
recommends VBZ VBZ
that IN IN
investors NNS NNS
sell VBP VB
takeover-related JJ JJ
stocks NNS NNS
, , ,
but CC CC
hang VB VB
on RP RP
to TO TO
some DT DT
other JJ JJ
stocks NNS NNS
-- : :
especially RB RB
utilities NNS NNS
, , ,
which WDT WDT
often RB RB
do VBP VBP
well RB RB
during IN IN
periods NNS NNS
of IN IN
economic JJ JJ
weakness NN NN
. . .
<s>
Frank NNP NNP
Curzio NNP NNP
. . .
<s>
Many JJ JJ
people NNS NNS
now RB RB
claim VBP VBP
to TO TO
have VB VB
predicted VBN VBN
the DT DT
1987 CD CD
crash NN NN
. . .
<s>
Queens NNP NNP
newsletter NN NN
writer NN NN
Francis NNP NNP
X. NNP NNP
Curzio NNP NNP
actually RB RB
did VBD VBD
it PRP PRP
: : :
He PRP PRP
stated VBD VBD
in IN IN
writing VBG NN
in IN IN
September NNP NNP
1987 CD CD
that IN IN
the DT DT
Dow NNP NNP
Jones NNP NNP
Industrial NNP NNP
Average NNP NNP
was VBD VBD
likely JJ JJ
to TO TO
decline VB VB
about IN RB
500 CD CD
points NNS NNS
the DT DT
following JJ JJ
month NN NN
. . .
<s>
Mr. NNP NNP
Curzio NNP NNP
says VBZ VBZ
what WP WP
happens VBZ VBZ
now RB RB
will MD MD
depend VB VB
a DT DT
good JJ JJ
deal NN NN
on IN IN
the DT DT
Federal NNP NNP
Reserve NNP NNP
Board NNP NNP
. . .
<s>
If IN IN
it PRP PRP
promptly RB RB
cuts VBZ VBZ
the DT DT
discount NN NN
rate NN NN
it PRP PRP
charges VBZ VBZ
on IN IN
loans NNS NNS
to TO TO
banks NNS NNS
, , ,
he PRP PRP
says VBZ VBZ
, , ,
`` `` ``
That DT DT
could MD MD
quiet JJ VB
things NNS NNS
down IN RP
. . .
<s>
'' '' ''
If IN IN
not RB RB
, , ,
`` `` ``
We PRP PRP
could MD MD
go VB VB
to TO TO
2200 CD CD
very RB RB
soon RB RB
. . .
<s>
'' '' ''
Frank NNP NNP
W. NNP NNP
Terrizzi NNP NNP
. . .
<s>
Stock NN NN
prices NNS NNS
`` `` ``
would MD MD
still RB RB
have VB VB
to TO TO
go VB VB
down RP RB
some DT DT
additional JJ JJ
amount NN NN
before IN IN
we PRP PRP
become VBP VBP
positive JJ JJ
on IN IN
stocks NNS NNS
, , ,
'' '' ''
says VBZ VBZ
Mr. NNP NNP
Terrizzi NNP NNP
, , ,
president NN NN
and CC CC
managing VBG VBG
director NN NN
of IN IN
Renaissance NNP NNP
Investment NNP NNP
Management NNP NNP
Inc. NNP NNP
in IN IN
Cincinnati NNP NNP
. . .
<s>
Renaissance NNP NNP
, , ,
which WDT WDT
manages VBZ VBZ
about IN RB
$ $ $
1.8 CD CD
billion CD CD
, , ,
drew VBD VBD
stiff JJ JJ
criticism NN NN
from IN IN
many JJ JJ
clients NNS NNS
earlier RBR RBR
this DT DT
year NN NN
because IN IN
it PRP PRP
pulled VBD VBD
entirely RB RB
out IN IN
of IN IN
stocks NNS NNS
at IN IN
the DT DT
beginning NN NN
of IN IN
the DT DT
year NN NN
and CC CC
thus RB RB
missed VBD VBD
a DT DT
strong JJ JJ
rally NN NN
. . .
<s>
Renaissance NNP NNP
is VBZ VBZ
keeping VBG VBG
its PRP$ PRP$
money NN NN
entirely RB RB
in IN IN
cash NN NN
equivalents NNS NNS
, , ,
primarily RB RB
U.S. NNP NNP
Treasury NNP NNP
bills NNS NNS
. . .
<s>
`` `` ``
T-bills NNS NNS
probably RB RB
are VBP VBP
the DT DT
right JJ JJ
place NN NN
to TO TO
be VB VB
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
Regarding VBG VBG
the DT DT
Oct. NNP NNP
3 CD CD
letter NN NN
to TO TO
the DT DT
editor NN NN
from IN IN
Rep. NNP NNP
Tom NNP NNP
Lantos NNP NNP
, , ,
chairman NN NN
of IN IN
the DT DT
House NNP NNP
Subcommittee NNP NNP
on IN IN
Employment NNP NNP
and CC CC
Housing NNP NNP
, , ,
alleging VBG VBG
: : :
1 LS LS
. . .
<s>
That DT IN
your PRP$ PRP$
Sept. NNP NNP
28 CD CD
editorial NN NN
`` `` ``
Kangaroo NNP NN
Committees NNS NNS
'' '' ''
was VBD VBD
factually RB RB
inaccurate JJ JJ
and CC CC
deliberately RB RB
misleading JJ JJ
. . .
<s>
I PRP PRP
thought VBD VBD
your PRP$ PRP$
editorial NN NN
was VBD VBD
factually RB RB
accurate JJ JJ
and CC CC
deliberately RB RB
elucidative JJ JJ
. . .
<s>
2 LS LS
. . .
<s>
That IN IN
Mr. NNP NNP
Lantos NNP NNP
supported VBD VBD
the DT DT
rights NNS NNS
of IN IN
the DT DT
witnesses NNS NNS
to TO TO
take VB VB
the DT DT
Fifth NNP NNP
Amendment NNP NNP
. . .
<s>
Yes RB UH
, , ,
he PRP PRP
did VBD VBD
. . .
<s>
As IN IN
I PRP PRP
watched VBD VBD
him PRP PRP
on IN IN
C-Span : NNP
, , ,
I PRP PRP
heard VBD VBD
him PRP PRP
speak VB VB
those DT DT
lovely JJ JJ
words NNS NNS
about IN IN
the DT DT
Bill NNP NNP
of IN IN
Rights NNPS NNPS
, , ,
which WDT WDT
he PRP PRP
quotes VBZ VBZ
from IN IN
the DT DT
transcript NN NN
of IN IN
the DT DT
hearings NNS NNS
. . .
<s>
He PRP PRP
did VBD VBD
repeat VB VB
those DT DT
nice JJ JJ
platitudes NNS NNS
several JJ JJ
times NNS NNS
as IN IN
an DT DT
indication NN NN
of IN IN
his PRP$ PRP$
support NN NN
for IN IN
the DT DT
Constitution NNP NNP
. . .
<s>
He PRP PRP
used VBD VBD
about IN RB
56 CD CD
words NNS NNS
defending VBG VBG
the DT DT
witnesses NNS NNS
' POS POS
constitutional JJ JJ
rights NNS NNS
. . .
<s>
Unfortunately RB RB
, , ,
by IN IN
my PRP$ PRP$
rough JJ JJ
guess NN NN
, , ,
he PRP PRP
used VBD VBD
better RBR JJR
than IN IN
5,000 CD CD
words NNS NNS
heaping VBG VBG
scorn VB NN
on IN IN
the DT DT
witnesses NNS NNS
for IN IN
exercising VBG VBG
the DT DT
Fifth NNP NNP
. . .
<s>
He PRP PRP
sandwiched VBN VBD
his PRP$ PRP$
praise NN NN
of IN IN
constitutional JJ JJ
meat NN NN
between IN IN
large JJ JJ
loaves NNS NNS
of IN IN
bilious JJ JJ
commentary NN NN
. . .
<s>
As IN IN
your PRP$ PRP$
editorial NN NN
rightly RB RB
pointed VBD VBD
out RP RP
, , ,
Samuel NNP NNP
Pierce NNP NNP
, , ,
former JJ JJ
HUD NNP NNP
secretary NN NN
, , ,
and CC CC
Lance NNP NNP
Wilson NNP NNP
, , ,
Mr. NNP NNP
Pierce NNP NNP
's POS POS
former JJ JJ
aide NN NN
, , ,
`` `` ``
are VBP VBP
currently RB RB
being VBG VBG
held VBN VBD
up RP RB
to TO TO
scorn VB NN
for IN IN
taking VBG VBG
the DT DT
Fifth NNP NNP
Amendment NNP NNP
. . .
<s>
'' '' ''
That DT DT
certainly RB RB
is VBZ VBZ
not RB RB
the DT DT
supposed VBN JJ
`` `` ``
distorted JJ JJ
reading NN NN
'' '' ''
indicated VBN VBN
by IN IN
Mr. NNP NNP
Lantos NNP NNP
. . .
<s>
3 LS LS
. . .
<s>
That DT IN
his PRP$ PRP$
`` `` ``
committee NN NN
does VBZ VBZ
not RB RB
deal VB VB
with IN IN
any DT DT
possible JJ JJ
criminal JJ JJ
activity NN NN
at IN IN
HUD NNP NNP
. . .
<s>
My PRP$ PRP$
colleagues NNS NNS
and CC CC
I PRP PRP
fully RB RB
realize VBP VBP
we PRP PRP
are VBP VBP
not RB RB
a DT DT
court NN NN
... : :
etc NN FW
. . .
<s>
'' '' ''
Absolute : JJ
rubbish JJ NN
. . .
<s>
By IN IN
any DT DT
`` `` ``
reasonable JJ JJ
man NN NN
'' '' ''
criterion NN NN
, , ,
Mr. NNP NNP
Lantos NNP NNP
and CC CC
his PRP$ PRP$
colleagues NNS NNS
have VBP VBP
a DT DT
whole JJ JJ
bunch NN NN
of IN IN
people NNS NNS
tried VBN VBN
and CC CC
convicted VBN VBN
. . .
<s>
Apparently RB RB
, , ,
their PRP$ PRP$
verdict NN NN
is VBZ VBZ
in IN RB
. . .
<s>
Right RB RB
now RB RB
they PRP PRP
're VBP VBP
pursuing VBG VBG
evidence NN NN
. . .
<s>
That DT DT
's VBZ VBZ
not RB RB
a DT DT
bad JJ JJ
way NN NN
to TO TO
proceed VB VB
, , ,
just RB RB
somewhat RB RB
different JJ JJ
from IN IN
standard JJ JJ
American JJ JJ
practice NN NN
. . .
<s>
How WRB WRB
was VBD VBD
that DT DT
practice NN NN
referred VBD VBN
to TO TO
when WRB WRB
I PRP PRP
was VBD VBD
in IN IN
school NN NN
? . .
<s>
Ah UH UH
, , ,
yes UH UH
, , ,
something NN NN
called VBD VBN
a DT DT
Star NNP NNP
Chamber NNP NNP
. . .
<s>
Of IN IN
course NN NN
, , ,
Mr. NNP NNP
Lantos NNP NNP
doth : VBZ
protest NN NN
that IN IN
his PRP$ PRP$
subcommittee NN NN
simply RB RB
seeks VBZ VBZ
information NN NN
for IN IN
legislative JJ JJ
change NN NN
. . .
<s>
No DT DT
doubt NN NN
that WDT WDT
's VBZ VBZ
partially RB RB
true JJ JJ
. . .
<s>
Everything NN NN
that IN IN
Mr. NNP NNP
Lantos NNP NNP
says VBZ VBZ
in IN IN
his PRP$ PRP$
letter NN NN
is VBZ VBZ
partially RB RB
true JJ JJ
. . .
<s>
He PRP PRP
's VBZ VBZ
right JJ JJ
about IN IN
his PRP$ PRP$
subcommittee NN NN
's POS POS
responsibilities NNS NNS
when WRB WRB
it PRP PRP
comes VBZ VBZ
to TO TO
obtaining VBG VBG
information NN NN
from IN IN
prior JJ JJ
HUD NNP NNP
officials NNS NNS
. . .
<s>
But CC CC
if IN IN
his PRP$ PRP$
explanation NN NN
of IN IN
motivation NN NN
is VBZ VBZ
true JJ JJ
, , ,
why WRB WRB
is VBZ VBZ
his PRP$ PRP$
investigation NN NN
so RB RB
oriented JJ VBN
as IN IN
to TO TO
identify VB VB
criminal JJ JJ
activity NN NN
? . .
<s>
Why WRB WRB
not RB RB
simply RB RB
questions NNS NNS
designed VBN VBN
to TO TO
identify VB VB
sources NNS NNS
and CC CC
causes NNS NNS
of IN IN
waste NN NN
and CC CC
inefficiency NN NN
? . .
<s>
Such JJ JJ
as IN IN
, , ,
what WP WP
happened VBD VBD
when WRB WRB
Congress NNP NNP
wanted VBD VBD
to TO TO
know VB VB
about IN RB
$ $ $
400 CD CD
toilet NN NN
seats NNS NNS
or CC CC
whatever WDT WDT
they PRP PRP
supposedly RB RB
cost NN VBD
? . .
<s>
No RB RB
, , ,
Mr. NNP NNP
Lantos NNP NNP
's POS POS
complaints NNS NNS
simply RB RB
wo MD MD
n't RB RB
wash VB VB
. . .
<s>
4 LS LS
. . .
<s>
That IN IN
the DT DT
Journal NNP NNP
defends VBZ VBZ
`` `` ``
the DT DT
sleaze NN NN
, , ,
fraud NN NN
, , ,
waste NN NN
, , ,
embezzlement NN NN
, , ,
influence-peddling NN NN
and CC CC
abuse NN NN
of IN IN
the DT DT
public NN NN
that WDT WDT
took VBD VBD
place NN NN
while IN IN
Mr. NNP NNP
Pierce NNP NNP
was VBD VBD
secretary NN NN
of IN IN
HUD NNP NNP
, , ,
'' '' ''
etc. NN FW
and CC CC
so RB RB
forth RB RB
. . .
<s>
No RB UH
, , ,
to TO TO
my PRP$ PRP$
mind NN NN
, , ,
the DT DT
Journal NNP NNP
did VBD VBD
not RB RB
`` `` ``
defend VB VB
sleaze NN NN
, , ,
fraud NN NN
, , ,
waste NN NN
, , ,
embezzlement NN NN
, , ,
influence-peddling NN NN
and CC CC
abuse NN NN
of IN IN
the DT DT
public JJ JJ
trust NN NN
... : :
'' '' ''
it PRP PRP
defended VBD VBD
appropriate JJ JJ
constitutional JJ JJ
safeguards NNS NNS
and CC CC
practical JJ JJ
common JJ JJ
sense NN NN
. . .
<s>
The DT DT
problem NN NN
, , ,
which WDT WDT
the DT DT
Journal NNP NNP
so RB RB
rightly RB RB
pointed VBD VBN
out RP RP
in IN IN
a DT DT
number NN NN
of IN IN
articles NNS NNS
, , ,
is VBZ VBZ
not RB RB
the DT DT
likes NNS NNS
of IN IN
Mr. NNP NNP
Lantos NNP NNP
, , ,
who WP WP
after IN IN
all DT DT
is VBZ VBZ
really RB RB
a DT DT
bit NN JJ
player NN NN
on IN IN
the DT DT
stage NN NN
, , ,
but CC CC
the DT DT
attempt NN NN
by IN IN
Congress NNP NNP
to TO TO
enhance VB VB
itself PRP PRP
into IN IN
a DT DT
quasi-parliamentary\/judicial JJ JJ
body NN NN
. . .
<s>
( ( (
Of IN IN
course NN NN
, , ,
we PRP PRP
've VBP VBP
also RB RB
got VBN VBN
a DT DT
judiciary NN NN
that WDT WDT
seeks VBZ VBZ
the DT DT
same JJ JJ
objective NN NN
. . .
<s>
) ) )
The DT DT
system NN NN
is VBZ VBZ
the DT DT
problem NN NN
, , ,
not RB RB
an DT DT
individual JJ JJ
member NN NN
. . .
<s>
Individuals NNS NNS
can MD MD
always RB RB
have VB VB
their PRP$ PRP$
hands NNS NNS
slapped VBD VBN
. . .
<s>
It PRP PRP
's VBZ POS
when WRB WRB
such JJ JJ
slapping NN NN
does VBZ VBZ
n't RB RB
occur VB VB
that IN IN
we PRP PRP
've VBP VBP
got VBN VBN
trouble NN NN
. . .
<s>
I PRP PRP
do VBP VBP
not RB RB
by IN IN
any DT DT
means NNS NNS
defend VBP VB
HUD NNP NNP
management NN NN
. . .
<s>
But CC CC
I PRP PRP
think VBP VBP
the DT DT
kind NN NN
of IN IN
congressional JJ JJ
investigation NN NN
that WDT WDT
has VBZ VBZ
been VBN VBN
pursued VBN VBN
is VBZ VBZ
a DT DT
far RB RB
greater JJR JJR
danger NN NN
to TO TO
American JJ JJ
notions NNS NNS
of IN IN
liberty NN NN
and CC CC
freedom NN NN
than IN IN
any DT DT
incompetency NN NN
( ( (
and CC CC
, , ,
yes UH UH
, , ,
maybe RB RB
criminality NN NN
) ) )
within IN IN
HUD NNP NNP
could MD MD
possibly RB RB
generate VB VB
. . .
<s>
The DT DT
last JJ JJ
time NN NN
I PRP PRP
saw VBD VBD
a DT DT
similar JJ JJ
congressional JJ JJ
hearing NN NN
was VBD VBD
when WRB WRB
`` `` ``
Tail NNP NNP
Gunner NNP NNP
Joe NNP NNP
'' '' ''
McCarthy NNP NNP
did VBD VBD
his PRP$ PRP$
work NN NN
. . .
<s>
Raymond NNP NNP
Weber NNP NNP
Parsippany NNP NNP
, , ,
N.J NNP NNP
. . .
<s>
I PRP PRP
disagree VBP VBP
with IN IN
the DT DT
statement NN NN
by IN IN
Mr. NNP NNP
Lantos NNP NNP
that IN IN
one CD PRP
should MD MD
not RB RB
draw VB VB
an DT DT
adverse JJ JJ
inference NN NN
against IN IN
former JJ JJ
HUD NNP NNP
officials NNS NNS
who WP WP
assert VBP VBP
their PRP$ PRP$
Fifth NNP NNP
Amendment NNP NNP
privilege NN NN
against IN IN
self-incrimination NN NN
in IN IN
congressional JJ JJ
hearings NNS NNS
. . .
<s>
The DT DT
Fifth NNP NNP
Amendment NNP NNP
states NNS VBZ
in IN IN
relevant JJ JJ
part NN NN
that IN IN
no DT DT
person NN NN
`` `` ``
shall MD MD
be VB VB
compelled VBN VBN
, , ,
in IN IN
any DT DT
criminal JJ JJ
case NN NN
, , ,
to TO TO
be VB VB
a DT DT
witness NN NN
against IN IN
himself PRP PRP
. . .
<s>
'' '' ''
This DT DT
privilege NN NN
against IN IN
self-incrimination NN NN
precludes NNS VBZ
the DT DT
drawing NN NN
of IN IN
an DT DT
adverse JJ JJ
inference NN NN
against IN IN
a DT DT
criminal JJ JJ
defendant NN NN
who WP WP
chooses VBZ VBZ
not RB RB
to TO TO
testify VB VB
. . .
<s>
Thus RB RB
, , ,
in IN IN
a DT DT
criminal JJ JJ
case NN NN
, , ,
a DT DT
prosecutor NN NN
can MD MD
not RB RB
comment VB VB
on IN IN
a DT DT
defendant NN NN
's POS POS
failure NN NN
to TO TO
testify VB VB
nor CC CC
can MD MD
the DT DT
defendant NN NN
be VB VB
compelled VBN VBN
to TO TO
take VB VB
the DT DT
stand NN NN
as IN IN
a DT DT
witness NN NN
, , ,
thus RB RB
forcing VBG VBG
him PRP PRP
to TO TO
`` `` ``
take VB VB
the DT DT
Fifth NNP NNP
. . .
<s>
'' '' ''
The DT DT
privilege NN NN
, , ,
however RB RB
, , ,
has VBZ VBZ
been VBN VBN
limited VBN VBN
in IN IN
accordance NN NN
with IN IN
its PRP$ PRP$
plain JJ JJ
language NN NN
to TO TO
protect VB VB
the DT DT
defendant NN NN
in IN IN
criminal JJ JJ
matters NNS NNS
only RB RB
. . .
<s>
The DT DT
Supreme NNP NNP
Court NNP NNP
and CC CC
some DT DT
states NNS NNS
have VBP VBP
specifically RB RB
recognized VBN VBN
that IN IN
`` `` ``
the DT DT
Fifth NNP NNP
Amendment NNP NNP
does VBZ VBZ
not RB RB
preclude VB VB
the DT DT
inference NN NN
where WRB WRB
the DT DT
privilege NN NN
is VBZ VBZ
claimed VBN VBN
by IN IN
a DT DT
party NN NN
to TO TO
a DT DT
civil JJ JJ
cause NN NN
. . .
<s>
'' '' ''
Baxter NNP NNP
v. CC IN
Palmingiano NNP NNP
, , ,
425 CD CD
U.S. NNP NNP
308 CD CD
( ( (
1976 CD CD
) ) )
. . .
<s>
Thus RB RB
, , ,
in IN IN
a DT DT
civil JJ JJ
case NN NN
, , ,
a DT DT
defendant NN NN
may MD MD
be VB VB
called VBN VBN
as IN IN
a DT DT
witness NN NN
, , ,
he PRP PRP
may MD MD
be VB VB
forced VBN VBN
to TO TO
testify VB VB
or CC CC
take VB VB
the DT DT
Fifth NNP NNP
, , ,
and CC CC
his PRP$ PRP$
taking NN NN
of IN IN
the DT DT
Fifth NNP NNP
may MD MD
permit VB VB
the DT DT
drawing NN NN
of IN IN
an DT DT
adverse JJ JJ
inference NN NN
against IN IN
him PRP PRP
in IN IN
the DT DT
civil JJ JJ
matter NN NN
. . .
<s>
He PRP PRP
may MD MD
take VB VB
the DT DT
Fifth NNP NNP
in IN IN
a DT DT
civil JJ JJ
matter NN NN
only RB RB
if IN IN
he PRP PRP
has VBZ VBZ
a DT DT
good JJ JJ
faith NN NN
and CC CC
justifiable JJ JJ
belief NN NN
that IN IN
his PRP$ PRP$
testimony NN NN
may MD MD
subject VB VB
him PRP PRP
to TO TO
criminal JJ JJ
prosecution NN NN
. . .
<s>
Allowing VBG VBG
the DT DT
defendant NN NN
to TO TO
take VB VB
the DT DT
Fifth NNP NNP
in IN IN
a DT DT
civil JJ JJ
matter NN NN
is VBZ VBZ
not RB RB
based VBN VBN
on IN IN
a DT DT
constitutional JJ JJ
right NN NN
to TO TO
refuse VB VB
to TO TO
testify VB VB
where WRB WRB
one NN PRP
's POS POS
testimony NN NN
harms VBZ VBZ
him PRP PRP
in IN IN
the DT DT
civil JJ JJ
matter NN NN
, , ,
but CC CC
because IN IN
the DT DT
testimony NN NN
in IN IN
the DT DT
civil JJ JJ
matter NN NN
could MD MD
be VB VB
unconstitutionally RB RB
used VBN VBN
against IN IN
him PRP PRP
in IN IN
a DT DT
subsequent JJ JJ
criminal JJ JJ
prosecution NN NN
. . .
<s>
Absent : JJ
the DT DT
risk NN NN
of IN IN
such JJ JJ
prosecution NN NN
, , ,
a DT DT
court NN NN
may MD MD
order VB VB
the DT DT
defendant NN NN
to TO TO
testify VB VB
. . .
<s>
Thus RB RB
, , ,
when WRB WRB
Mr. NNP NNP
Pierce NNP NNP
asserted VBD VBD
the DT DT
Fifth NNP NNP
in IN IN
a DT DT
noncriminal JJ JJ
proceeding NN NN
, , ,
particularly RB RB
after IN IN
presumably RB RB
receiving VBG VBG
extensive JJ JJ
advice NN NN
from IN IN
legal JJ JJ
counsel NN NN
, , ,
one PRP PRP
must MD MD
conclude VB VB
that IN IN
he PRP PRP
held VBD VBD
a DT DT
good-faith NN NN
, , ,
justifiable JJ JJ
belief NN NN
that IN IN
his PRP$ PRP$
testimony NN NN
could MD MD
be VB VB
used VBN VBN
against IN IN
him PRP PRP
in IN IN
a DT DT
subsequent JJ JJ
criminal JJ JJ
prosecution NN NN
. . .
<s>
The DT DT
subcommittee NN NN
, , ,
Congress NNP NNP
and CC CC
the DT DT
American JJ JJ
public NN NN
have VBP VBP
every DT DT
right NN NN
to TO TO
draw VB VB
the DT DT
adverse JJ JJ
inference NN NN
and CC CC
to TO TO
concur : VB
with IN IN
Mr. NNP NNP
Pierce NNP NNP
's POS POS
own JJ JJ
belief NN NN
that IN IN
his PRP$ PRP$
testimony NN NN
could MD MD
help VB VB
convict VB VB
him PRP PRP
of IN IN
a DT DT
crime NN NN
. . .
<s>
Drawing VBG VBG
the DT DT
adverse JJ JJ
inference NN NN
in IN IN
a DT DT
noncriminal JJ JJ
congressional JJ JJ
hearing NN NN
does VBZ VBZ
not RB RB
offend VB VB
the DT DT
Fifth NNP NNP
Amendment NNP NNP
shield NN NN
against IN IN
self-incrimination NN NN
. . .
<s>
Clark NNP NNP
S. NNP NNP
Spalsbury NNP NNP
Jr NNP NNP
. . .
<s>
Estes NNP NNP
Park NNP NNP
, , ,
Colo NNP NNP
. . .
<s>
It PRP PRP
was VBD VBD
Friday NNP NNP
the DT DT
13th NNS NNP
, , ,
and CC CC
the DT DT
stock NN NN
market NN NN
plummeted VBD VBD
nearly RB RB
200 CD CD
points NNS NNS
. . .
<s>
Just RB RB
a DT DT
coincidence NN NN
? . .
<s>
Or CC CC
is VBZ VBZ
triskaidekaphobia : NN
-- : :
fear NN NN
of IN IN
the DT DT
number NN NN
13 CD CD
-- : :
justified VBN VBN
? . .
<s>
In IN IN
academia NN NN
, , ,
a DT DT
so-called JJ JJ
Friday NNP NNP
the DT DT
13th JJ NNP
effect NN NN
has VBZ VBZ
been VBN VBN
set VBN VBN
up RP RP
and CC CC
shot VBD VBD
down RP RP
by IN IN
different JJ JJ
professors NNS NNS
. . .
<s>
Robert NNP NNP
Kolb NNP NNP
and CC CC
Ricardo NNP NNP
Rodriguez NNP NNP
, , ,
professors NNS NNS
of IN IN
finance NN NN
at IN IN
the DT DT
University NNP NNP
of IN IN
Miami NNP NNP
, , ,
found VBD VBD
evidence NN NN
that IN IN
the DT DT
market NN NN
is VBZ VBZ
spooked VBN VBN
by IN IN
Friday NNP NNP
the DT DT
13th NN NNP
. . .
<s>
But CC CC
their PRP$ PRP$
study NN NN
, , ,
which WDT WDT
spanned VBD VBD
the DT DT
1962-85 CD CD
period NN NN
, , ,
has VBZ VBZ
since IN RB
been VBN VBN
shown VBN VBN
to TO TO
be VB VB
jinxed VBN VBN
by IN IN
an DT DT
unlucky JJ JJ
choice NN NN
of IN IN
data NNS NNS
. . .
<s>
In IN IN
the DT DT
'70s NNS NNS
, , ,
the DT DT
market NN NN
took VBD VBD
falls VBZ NNS
nine CD CD
times NNS NNS
in IN IN
a DT DT
row NN NN
on IN IN
Friday NNP NNP
the DT DT
you-know-what : NN
. . .
<s>
But CC CC
the DT DT
date NN NN
tends VBZ VBZ
to TO TO
be VB VB
a DT DT
plus NN NN
, , ,
not RB RB
a DT DT
minus NN NN
, , ,
for IN IN
stocks NNS NNS
, , ,
according VBG VBG
to TO TO
Yale NNP NNP
Hirsch NNP NNP
, , ,
a DT DT
collector NN NN
of IN IN
stock NN NN
market NN NN
lore NN NN
. . .
<s>
Another DT DT
study NN NN
found VBD VBD
that IN IN
the DT DT
82 CD CD
Fridays NNP NNP
the DT DT
13th JJ JJ
in IN IN
the DT DT
1940-1987 CD CD
period NN NN
had VBD VBD
higher JJR JJR
than IN IN
average JJ JJ
returns NNS NNS
-- : :
higher RBR JJR
even RB RB
than IN IN
Fridays NNS NNPS
in IN IN
general JJ JJ
, , ,
which WDT WDT
tend VBP VBP
to TO TO
be VB VB
strong JJ JJ
days NNS NNS
for IN IN
stock NN NN
prices NNS NNS
. . .
<s>
On IN IN
the DT DT
only JJ JJ
other JJ JJ
Friday NNP NNP
the DT DT
13th JJ NNP
this DT DT
year NN NN
, , ,
the DT DT
Dow NNP NNP
Jones NNP NNP
Industrial NNP NNP
Average NNP NNP
rose VBD VBD
about IN RB
four CD CD
points NNS NNS
. . .
<s>
Professor NNP NNP
Kolb NNP NNP
says VBZ VBZ
the DT DT
original JJ JJ
study NN NN
, , ,
titled VBN VBN
Friday NNP NNP
the DT DT
13th NN NNP
, , ,
Part NNP NNP
VII NNP NNP
, , ,
was VBD VBD
published VBN VBN
tongue-in-cheek JJ RB
. . .
<s>
In IN IN
a DT DT
similar JJ JJ
vein NN NN
, , ,
he PRP PRP
adds VBZ VBZ
that IN IN
the DT DT
anniversary NN NN
of IN IN
the DT DT
1987 CD CD
crash NN NN
and CC CC
Saturday NNP NNP
's POS POS
full JJ JJ
moon NN NN
could MD MD
have VB VB
played VBN VBN
a DT DT
part NN NN
, , ,
too RB RB
, , ,
in IN IN
Friday NNP NNP
's POS POS
market NN NN
activity NN NN
. . .
<s>
reminiscent NN JJ
of IN IN
those DT DT
during IN IN
the DT DT
1987 CD CD
crash NN NN
-- : :
that IN IN
as IN IN
stock NN NN
prices NNS NNS
plummeted VBD VBD
and CC CC
trading NN NN
activity NN NN
escalated VBN VBD
, , ,
some DT DT
phone NN NN
calls NNS NNS
to TO TO
market NN NN
makers NNS NNS
in IN IN
over-the-counter JJ JJ
stocks NNS NNS
went VBD VBD
unanswered JJ JJ
. . .
<s>
`` `` ``
We PRP PRP
could MD MD
n't RB RB
get VB VB
dealers NNS NNS
to TO TO
answer VB VB
their PRP$ PRP$
phones NNS NNS
, , ,
'' '' ''
said VBD VBD
Robert NNP NNP
King NNP NNP
, , ,
senior JJ JJ
vice NN NN
president NN NN
of IN IN
OTC NNP NNP
trading NN NN
at IN IN
Robinson-Humphrey NNP NNP
Co. NNP NNP
in IN IN
Atlanta NNP NNP
. . .
<s>
`` `` ``
It PRP PRP
was VBD VBD
( ( (
like IN IN
) ) )
the DT DT
Friday NNP NNP
before IN IN
Black NNP NNP
Monday NNP NNP
'' '' ''
two CD CD
years NNS NNS
ago RB RB
. . .
<s>
Whether IN IN
unanswered JJ JJ
phone NN NN
calls NNS NNS
had VBD VBD
any DT DT
effect NN NN
or CC CC
not RB RB
, , ,
Nasdaq NNP NNP
stocks NNS NNS
sank VBD VBD
far RB RB
less JJR RBR
than IN IN
those DT DT
on IN IN
the DT DT
New NNP NNP
York NNP NNP
and CC CC
American JJ NNP
exchanges NNS NNS
. . .
<s>
Nonetheless RB RB
, , ,
the DT DT
Nasdaq NNP NNP
Composite NNP NNP
Index NNP NNP
suffered VBD VBD
its PRP$ PRP$
biggest JJS JJS
point NN NN
decline NN NN
of IN IN
the DT DT
year NN NN
and CC CC
its PRP$ PRP$
sixth JJ JJ
worst JJS JJS
ever RB RB
, , ,
diving JJ VBG
14.90 CD CD
, , ,
or CC CC
3 CD CD
% NN NN
, , ,
to TO TO
467.29 CD CD
. . .
<s>
Ten CD CD
points NNS NNS
of IN IN
the DT DT
drop NN NN
occurred VBD VBD
during IN IN
the DT DT
last JJ JJ
45 CD CD
minutes NNS NNS
of IN IN
trading NN VBG
. . .
<s>
By IN IN
comparison NN NN
, , ,
the DT DT
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
Composite NNP NNP
tumbled VBD VBD
5.8 CD CD
% NN NN
Friday NNP NNP
and CC CC
the DT DT
American NNP NNP
Stock NNP NNP
Exchange NNP NNP
Composite NNP NNP
fell VBD VBD
4 CD CD
% NN NN
. . .
<s>
On IN IN
Oct. NNP NNP
16 CD CD
, , ,
1987 CD CD
, , ,
the DT DT
Nasdaq NNP NNP
Composite NNP NNP
fell VBD VBD
16.18 CD CD
points NNS NNS
, , ,
or CC CC
3.8 CD CD
% NN NN
, , ,
followed VBN VBN
by IN IN
its PRP$ PRP$
devastating VBG JJ
46.12-point JJ JJ
, , ,
or CC CC
11 CD CD
% NN NN
slide NN NN
, , ,
three CD CD
days NNS NNS
later RB RB
. . .
<s>
Nasdaq NNP NNP
volume NN NN
Friday NNP NNP
totaled VBD VBD
167.7 CD CD
million CD CD
shares NNS NNS
, , ,
which WDT WDT
was VBD VBD
only RB RB
the DT DT
fifth JJ JJ
busiest JJS JJS
day NN NN
so RB RB
far RB RB
this DT DT
year NN NN
. . .
<s>
The DT DT
single-day JJ JJ
record NN NN
of IN IN
288 CD CD
million CD CD
shares NNS NNS
was VBD VBD
set VBN VBN
on IN IN
Oct. NNP NNP
21 CD CD
, , ,
`` `` ``
There EX RB
was VBD VBD
n't RB RB
a DT DT
lot NN NN
of IN IN
volume NN NN
because IN IN
it PRP PRP
was VBD VBD
just RB RB
impossible JJ JJ
to TO TO
get VB VB
stock NN NN
moved VBN VBN
, , ,
'' '' ''
said VBD VBD
E.E. NNP NNP
`` `` ``
Buzzy NNP NNP
'' '' ''
Geduld NNP NNP
, , ,
president NN NN
of IN IN
Herzog NNP NNP
, , ,
Heine NNP NNP
, , ,
Geduld NNP NNP
, , ,
a DT DT
New NNP NNP
York NNP NNP
company NN NN
that WDT WDT
makes VBZ VBZ
markets NNS NNS
in IN IN
thousands NNS NNS
of IN IN
OTC NNP NNP
issues NNS NNS
. . .
<s>
Most JJS JJS
of IN IN
the DT DT
complaints NNS NNS
about IN IN
unanswered JJ JJ
phone NN NN
calls NNS NNS
came VBD VBD
from IN IN
regional JJ JJ
brokers NNS NNS
rather RB RB
than IN IN
individual JJ JJ
investors NNS NNS
. . .
<s>
Mr. NNP NNP
King NNP NNP
of IN IN
Robinson-Humphrey NNP NNP
and CC CC
others NNS NNS
were VBD VBD
quick JJ JJ
to TO TO
add VB VB
that IN IN
they PRP PRP
believe VBP VBP
the DT DT
problem NN NN
stemmed VBD VBD
more RBR RBR
from IN IN
traders NNS NNS
' POS POS
inability NN NN
to TO TO
handle VB VB
the DT DT
volume NN NN
of IN IN
calls NNS NNS
, , ,
rather RB RB
than IN IN
a DT DT
deliberate JJ JJ
attempt NN NN
to TO TO
avoid VB VB
making VBG VBG
trades NNS NNS
. . .
<s>
The DT DT
subject NN NN
is VBZ VBZ
a DT DT
sore JJ JJ
one CD CD
for IN IN
Nasdaq NNP NNP
and CC CC
its PRP$ PRP$
market-making NN JJ
companies NNS NNS
, , ,
which WDT WDT
were VBD VBD
widely RB RB
criticized VBN VBN
two CD CD
years NNS NNS
ago RB RB
following VBG VBG
complaints NNS NNS
from IN IN
investors NNS NNS
who WP WP
could MD MD
n't RB RB
reach VB VB
their PRP$ PRP$
brokers NNS NNS
or CC CC
trade NN VB
in IN IN
the DT DT
chaos NN NN
of IN IN
the DT DT
crash NN NN
. . .
<s>
Peter NNP NNP
DaPuzzo NNP NNP
, , ,
head NN NN
of IN IN
retail JJ JJ
equity NN NN
trading NN NN
at IN IN
Shearson NNP NNP
Lehman NNP NNP
Hutton NNP NNP
, , ,
declared VBD VBD
: : :
`` `` ``
It PRP PRP
was VBD VBD
the DT DT
last JJ JJ
hour NN NN
of IN IN
trading NN NN
on IN IN
a DT DT
Friday NNP NNP
. . .
<s>
There EX EX
were VBD VBD
too RB RB
many JJ JJ
phones NNS NNS
ringing VBG VBG
and CC CC
too RB RB
many JJ JJ
things NNS NNS
happening VBG VBG
to TO TO
expect VB VB
market NN NN
makers NNS NNS
to TO TO
be VB VB
as RB RB
efficient JJ JJ
as IN IN
robots NNS NNS
. . .
<s>
It PRP PRP
was VBD VBD
n't RB RB
intentional JJ JJ
, , ,
we PRP PRP
were VBD VBD
all DT RB
busy JJ JJ
. . .
<s>
'' '' ''
James NNP NNP
Tarantino NNP NNP
, , ,
head NN NN
of IN IN
OTC NNP NNP
trading NN NN
at IN IN
Hambrecht NNP NNP
& CC CC
Quist NNP NNP
in IN IN
San NNP NNP
Francisco NNP NNP
, , ,
said VBD VBD
, , ,
`` `` ``
It PRP PRP
was VBD VBD
just RB RB
like IN IN
two CD CD
years NNS NNS
ago RB RB
. . .
<s>
Everybody NN NN
was VBD VBD
trying VBG VBG
to TO TO
do VB VB
the DT DT
same JJ JJ
thing NN NN
at IN IN
the DT DT
same JJ JJ
time NN NN
. . .
<s>
'' '' ''
Jeremiah NNP NNP
Mullins NNP NNP
, , ,
the DT DT
OTC NNP NNP
trading NN NN
chief NN NN
at IN IN
Dean NNP NNP
Witter NNP NNP
Reynolds NNP NNP
in IN IN
New NNP NNP
York NNP NNP
, , ,
said VBD VBD
proudly RB RB
that IN IN
his PRP$ PRP$
company NN NN
executed VBD VBD
every DT DT
order NN NN
it PRP PRP
received VBD VBD
by IN IN
the DT DT
close NN NN
of IN IN
trading NN NN
. . .
<s>
But CC CC
, , ,
he PRP PRP
added VBD VBD
, , ,
`` `` ``
you PRP PRP
can MD MD
only RB RB
take VB VB
one CD CD
call NN NN
at IN IN
a DT DT
time NN NN
. . .
<s>
'' '' ''
Market NN NN
makers NNS NNS
keep VBP VBP
supplies NNS NNS
of IN IN
stock NN NN
on IN IN
hand NN NN
to TO TO
maintain VB VB
orderly JJ JJ
trading NN NN
when WRB WRB
imbalances NNS NNS
occur VBP VBP
. . .
<s>
On IN IN
days NNS NNS
like IN IN
Friday NNP NNP
, , ,
that WDT WDT
means VBZ VBZ
they PRP PRP
must MD MD
buy VB VB
shares NNS NNS
from IN IN
sellers NNS NNS
when WRB WRB
no DT DT
one NN NN
else RB RB
is VBZ VBZ
willing JJ JJ
to TO TO
. . .
<s>
When WRB WRB
selling VBG NN
is VBZ VBZ
so RB RB
frenzied JJ JJ
, , ,
prices NNS NNS
fall VBP VBP
steeply RB RB
and CC CC
fast RB RB
. . .
<s>
Two CD CD
years NNS NNS
ago RB RB
, , ,
faced VBD VBN
with IN IN
the DT DT
possibility NN NN
of IN IN
heavy JJ JJ
losses NNS NNS
on IN IN
the DT DT
stocks NNS NNS
in IN IN
their PRP$ PRP$
inventories NNS NNS
, , ,
market NN NN
makers NNS NNS
themselves PRP PRP
began VBD VBD
dumping VBG VBG
shares NNS NNS
, , ,
exacerbating VBG VBG
the DT DT
slide NN NN
in IN IN
OTC NNP NNP
stock NN NN
prices NNS NNS
. . .
<s>
On IN IN
Friday NNP NNP
, , ,
some DT DT
market NN NN
makers NNS NNS
were VBD VBD
selling VBG VBG
again RB RB
, , ,
traders NNS NNS
said VBD VBD
. . .
<s>
But CC CC
, , ,
with IN IN
profits NNS NNS
sagging VBG VBG
on IN IN
Wall NNP NNP
Street NNP NNP
since IN IN
the DT DT
crash NN NN
, , ,
companies NNS NNS
have VBP VBP
kept VBN VBN
smaller JJR JJR
share NN NN
stockpiles NNS NNS
on IN IN
hand NN NN
. . .
<s>
Mr. NNP NNP
Tarantino NNP NNP
of IN IN
Hambrecht NNP NNP
& CC CC
Quist NNP NNP
said VBD VBD
some DT DT
prices NNS NNS
fell VBD VBD
without IN IN
trades NNS NNS
taking VBG VBG
place NN NN
, , ,
as IN IN
market NN NN
makers NNS NNS
kept VBD VBD
dropping VBG VBG
the DT DT
prices NNS NNS
at IN IN
which WDT WDT
they PRP PRP
would MD MD
buy VB VB
shares NNS NNS
. . .
<s>
`` `` ``
Everyone NN NN
was VBD VBD
hitting VBG VBG
everyone NN NN
else RB RB
's POS POS
bid NN NN
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
So RB RB
, , ,
while IN IN
OTC NNP NNP
companies NNS NNS
incurred VBD VBD
losses NNS NNS
on IN IN
Friday NNP NNP
, , ,
trading NN NN
officials NNS NNS
said VBD VBD
the DT DT
damage NN NN
was VBD VBD
n't RB RB
as RB RB
bad JJ JJ
as IN IN
it PRP PRP
was VBD VBD
in IN IN
1987 CD CD
. . .
<s>
`` `` ``
Two CD CD
years NNS NNS
ago IN RB
we PRP PRP
were VBD VBD
carrying VBG VBG
huge JJ JJ
inventories NNS NNS
and CC CC
that DT DT
was VBD VBD
the DT DT
big JJ JJ
culprit NN NN
. . .
<s>
I PRP PRP
do VBP VBP
n't RB RB
know VB VB
of IN IN
anyone NN NN
carrying VBG VBG
big JJ JJ
inventories NNS NNS
now RB RB
, , ,
'' '' ''
said VBD VBD
Mr. NNP NNP
King NNP NNP
of IN IN
Robinson-Humphrey NNP NNP
. . .
<s>
Tony NNP NNP
Cecin NNP NNP
, , ,
head NN NN
of IN IN
equity NN NN
trading NN NN
at IN IN
Piper NNP NNP
, , ,
Jaffray NNP NNP
& CC CC
Hopwood NNP NNP
in IN IN
Minneapolis NNP NNP
, , ,
said VBD VBD
that IN IN
Piper NNP NNP
Jaffray NNP NNP
actually RB RB
made VBD VBD
money NN NN
on IN IN
Friday NNP NNP
. . .
<s>
It PRP PRP
helped VBD VBD
that IN IN
his PRP$ PRP$
inventory NN NN
is VBZ VBZ
a DT DT
third JJ NN
smaller JJR JJR
now RB RB
than IN IN
it PRP PRP
was VBD VBD
two CD CD
years NNS NNS
ago RB RB
, , ,
he PRP PRP
said VBD VBD
. . .
<s>
Joseph NNP NNP
Hardiman NNP NNP
, , ,
president NN NN
of IN IN
the DT DT
National NNP NNP
Association NNP NNP
of IN IN
Securities NNPS NNP
Dealers NNPS NNP
, , ,
which WDT WDT
oversees VBZ VBZ
the DT DT
Nasdaq NNP NNP
computerized JJ JJ
trading NN NN
system NN NN
, , ,
said VBD VBD
that IN IN
despite IN IN
the DT DT
rush NN NN
of IN IN
selling NN VBG
, , ,
he PRP PRP
never RB RB
considered VBD VBD
the DT DT
situation NN NN
an DT DT
`` `` ``
emergency NN NN
. . .
<s>
'' '' ''
`` `` ``
The DT DT
pace NN NN
of IN IN
trading NN NN
was VBD VBD
orderly JJ JJ
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
Nasdaq NNP NNP
's POS POS
Small NNP NNP
Order NNP NNP
Execution NNP NNP
System NNP NNP
`` `` ``
worked VBD VBD
beautifully RB RB
, , ,
'' '' ''
as IN IN
did VBD VBD
the DT DT
automated JJ JJ
system NN NN
for IN IN
larger JJR JJR
trades NNS NNS
, , ,
according VBG VBG
to TO TO
Mr. NNP NNP
Hardiman NNP NNP
. . .
<s>
Nevertheless RB RB
, , ,
the DT DT
shock NN NN
of IN IN
another DT DT
steep JJ JJ
plunge NN NN
in IN IN
stock NN NN
prices NNS NNS
undoubtedly RB RB
will MD MD
shake VB VB
many JJ JJ
investors NNS NNS
' POS POS
confidence NN NN
. . .
<s>
In IN IN
the DT DT
past NN NN
, , ,
the DT DT
OTC NNP NNP
market NN NN
thrived VBD VBD
on IN IN
a DT DT
firm JJ JJ
base NN NN
of IN IN
small-investor JJ NN
participation NN NN
. . .
<s>
Because IN IN
Nasdaq NNP NNP
's POS POS
trading NN NN
volume NN NN
has VBZ VBZ
n't RB RB
returned VBN VBN
to TO TO
pre-crash JJ JJ
levels NNS NNS
, , ,
traders NNS NNS
and CC CC
OTC NNP NNP
market NN NN
officials NNS NNS
hope VBP VBP
the DT DT
damage NN NN
wo MD MD
n't RB RB
be VB VB
permanent JJ JJ
. . .
<s>
But CC CC
they PRP PRP
are VBP VBP
worried VBN JJ
. . .
<s>
`` `` ``
We PRP PRP
were VBD VBD
just RB RB
starting VBG VBG
to TO TO
get VB VB
the DT DT
public NN NN
's POS POS
confidence NN NN
back RB RP
, , ,
'' '' ''
lamented VBD VBD
Mr. NNP NNP
Mullins NNP NNP
of IN IN
Dean NNP NNP
Witter NNP NNP
. . .
<s>
More RBR RBR
troubling JJ JJ
is VBZ VBZ
the DT DT
prospect NN NN
that IN IN
the DT DT
overall JJ JJ
collapse NN NN
in IN IN
stock NN NN
prices NNS NNS
could MD MD
permanently RB RB
erode VB VB
the DT DT
base NN NN
of IN IN
small-investor JJ NN
support NN NN
the DT DT
OTC NNP NNP
market NN NN
was VBD VBD
struggling VBG VBG
to TO TO
rebuild VB VB
in IN IN
the DT DT
wake NN NN
of IN IN
the DT DT
October NNP NNP
1987 CD CD
crash NN NN
. . .
<s>
Mr. NNP NNP
Cecin NNP NNP
of IN IN
Piper NNP NNP
Jaffray NNP NNP
says VBZ VBZ
some DT DT
action NN NN
from IN IN
government NN NN
policy NN NN
makers NNS NNS
would MD MD
allay VB VB
investor NN NN
fears NNS NNS
. . .
<s>
It PRP PRP
wo MD MD
n't RB RB
take VB VB
much RB JJ
more JJR RBR
to TO TO
`` `` ``
scare VB VB
the DT DT
hell NN NN
out IN IN
of IN IN
retail JJ JJ
investors NNS NNS
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
The DT DT
sellers NNS NNS
on IN IN
Friday NNP NNP
came VBD VBD
from IN IN
all DT DT
corners NNS NNS
of IN IN
the DT DT
OTC NNP NNP
market NN NN
-- : :
big JJ JJ
and CC CC
small JJ JJ
institutional JJ JJ
investors NNS NNS
, , ,
as RB RB
well RB RB
as IN IN
individual JJ JJ
investors NNS NNS
and CC CC
market NN NN
makers NNS NNS
. . .
<s>
But CC CC
grateful JJ JJ
traders NNS NNS
said VBD VBD
the DT DT
sell NN NN
orders NNS NNS
generally RB RB
ranged VBD VBD
from IN IN
20,000 CD CD
shares NNS NNS
to TO TO
50,000 CD CD
shares NNS NNS
, , ,
compared VBN VBN
with IN IN
blocks NNS NNS
of IN IN
500,000 CD CD
shares NNS NNS
or CC CC
more JJR JJR
two CD CD
years NNS NNS
ago RB RB
. . .
<s>
Shearson NNP NNP
's POS POS
Mr. NNP NNP
DaPuzzo NNP NNP
said VBD VBD
retail JJ JJ
investors NNS NNS
nervously RB RB
sold VBD VBD
stock NN NN
Friday NNP NNP
and CC CC
never RB RB
returned VBD VBD
to TO TO
bargain-hunt : VB
. . .
<s>
Institutional JJ JJ
investors NNS NNS
, , ,
which WDT WDT
had VBD VBD
been VBN VBN
selling VBG VBG
stock NN NN
throughout IN IN
last JJ JJ
week NN NN
to TO TO
lock VB VB
in RP RP
handsome JJ JJ
gains NNS NNS
made VBN VBN
through IN IN
the DT DT
third JJ JJ
quarter NN NN
, , ,
were VBD VBD
calmer : JJR
. . .
<s>
`` `` ``
We PRP PRP
had VBD VBD
a DT DT
good JJ JJ
amount NN NN
of IN IN
selling NN VBG
from IN IN
institutions NNS NNS
, , ,
but CC CC
not RB RB
as RB IN
much JJ JJ
panic NN NN
, , ,
'' '' ''
Mr. NNP NNP
DaPuzzo NNP NNP
said VBD VBD
. . .
<s>
`` `` ``
If IN IN
they PRP PRP
could MD MD
n't RB RB
sell VB VB
, , ,
some DT DT
of IN IN
them PRP PRP
put VBD VBD
the DT DT
shares NNS NNS
back RB RB
on IN IN
the DT DT
shelf NN NN
. . .
<s>
'' '' ''
In IN IN
addition NN NN
, , ,
he PRP PRP
said VBD VBD
, , ,
some DT DT
bigger JJR JJR
institutional JJ JJ
investors NNS NNS
placed VBD VBD
bids NNS NNS
to TO TO
buy VB VB
some DT DT
OTC NNP NNP
stocks NNS NNS
whose WP$ WP$
prices NNS NNS
were VBD VBD
beaten VBN VBN
down RP RP
. . .
<s>
In IN IN
addition NN NN
, , ,
Mr. NNP NNP
DaPuzzo NNP NNP
said VBD VBD
computer-guided JJ JJ
program NN NN
selling NN NN
of IN IN
OTC NNP NNP
stocks NNS NNS
in IN IN
the DT DT
Russell NNP NNP
Index NNP NNP
of IN IN
2000 CD CD
small JJ JJ
stocks NNS NNS
and CC CC
the DT DT
Standard NNP NNP
& CC CC
Poor NNP NNP
's POS POS
500-stock NNP NNP
Index NNP NNP
sent VBD VBD
occasional JJ JJ
`` `` ``
waves NNS NNS
`` `` ``
through IN IN
the DT DT
market NN NN
. . .
<s>
Nasdaq NNP NNP
's POS POS
biggest JJS JJS
stocks NNS NNS
were VBD VBD
hammered VBN VBN
. . .
<s>
The DT DT
Nasdaq NNP NNP
100 CD CD
Index NNP NNP
of IN IN
the DT DT
largest JJS JJS
nonfinancial JJ JJ
issues NNS NNS
, , ,
including VBG VBG
the DT DT
big JJ JJ
OTC NNP NNP
technology NN NN
issues NNS NNS
, , ,
tumbled VBD VBD
4.2 CD CD
% NN NN
, , ,
or CC CC
19.76 CD CD
, , ,
to TO TO
449.33 CD CD
. . .
<s>
The DT DT
Nasdaq NNP NNP
Financial NNP NNP
Index NNP NNP
of IN IN
giant JJ JJ
insurance NN NN
and CC CC
banking NN NN
stocks NNS NNS
dropped VBD VBD
2 CD CD
% NN NN
, , ,
or CC CC
9.31 CD CD
, , ,
to TO TO
462.98 CD CD
. . .
<s>
The DT DT
OTC NNP NNP
market NN NN
has VBZ VBZ
only RB RB
a DT DT
handful NN NN
of IN IN
takeover-related JJ JJ
stocks NNS NNS
. . .
<s>
But CC CC
they PRP PRP
fell VBD VBD
sharply RB RB
. . .
<s>
McCaw NNP NNP
Cellular NNP NNP
Communications NNPS NNP
, , ,
for IN IN
instance NN NN
, , ,
has VBZ VBZ
offered VBN VBN
to TO TO
buy VB VB
LIN NNP NNP
Broadcasting NNP NNP
as RB RB
well RB RB
as IN IN
Metromedia NNP NNP
's POS POS
New NNP NNP
York NNP NNP
City NNP NNP
cellular JJ JJ
telephone NN NN
interests NNS NNS
, , ,
and CC CC
in IN IN
a DT DT
separate JJ JJ
transaction NN NN
, , ,
sell VBP VB
certain JJ JJ
McCaw NNP NNP
properties NNS NNS
to TO TO
Contel NNP NNP
Cellular NNP NNP
. . .
<s>
McCaw NNP NNP
lost VBD VBD
8 CD CD
% NN NN
, , ,
or CC CC
3 CD CD
1\/2 CD CD
, , ,
to TO TO
40 CD CD
. . .
<s>
LIN NNP NNP
Broadcasting NNP NNP
, , ,
dropped VBD VBD
5 CD CD
1\/2 CD CD
, , ,
or CC CC
5 CD CD
% NN NN
, , ,
to TO TO
107 CD CD
1\/2 CD CD
. . .
<s>
The DT DT
turnover NN NN
in IN IN
both DT DT
issues NNS NNS
was VBD VBD
roughly RB RB
normal JJ JJ
. . .
<s>
On IN IN
a DT DT
day NN NN
when WRB WRB
negative JJ JJ
takeover-related JJ JJ
news NN NN
did VBD VBD
n't RB RB
sit VB VB
well RB RB
with IN IN
investors NNS NNS
, , ,
Commercial NNP NNP
Intertech NNP NNP
, , ,
a DT DT
maker NN NN
of IN IN
engineered VBN JJ
metal NN NN
parts NNS NNS
, , ,
said VBD VBD
Haas NNP NNP
& CC CC
Partners NNPS NNP
advised VBD VBD
it PRP PRP
that IN IN
it PRP PRP
does VBZ VBZ
n't RB RB
plan VB VB
to TO TO
pursue VB VB
its PRP$ PRP$
previously RB RB
reported VBN VBN
$ $ $
27.50-a-share JJ JJ
bid NN NN
to TO TO
buy VB VB
the DT DT
company NN NN
. . .
<s>
Commercial JJ NNP
Intertech NNP NNP
plummeted VBD VBD
6 CD CD
to TO TO
26 CD CD
. . .
<s>
The DT DT
issues NNS NNS
of IN IN
companies NNS NNS
with IN IN
ties NNS NNS
to TO TO
the DT DT
junk NN NN
bond NN NN
market NN NN
also RB RB
tumbled VBD VBD
Friday NNP NNP
. . .
<s>
On IN IN
the DT DT
OTC NNP NNP
market NN NN
, , ,
First NNP NNP
Executive NNP NNP
, , ,
a DT DT
big JJ JJ
buyer NN NN
of IN IN
the DT DT
high-risk JJ JJ
, , ,
high-yield JJ JJ
issues NNS NNS
, , ,
slid VBD VBD
2 CD CD
to TO TO
12 CD CD
1\/4 CD CD
. . .
<s>
Among IN IN
other JJ JJ
OTC NNP NNP
issues NNS NNS
, , ,
Intel NNP NNP
, , ,
dropped VBD VBD
2 CD CD
1\/8 CD CD
to TO TO
33 CD CD
7\/8 CD CD
; : :
Laidlaw NNP NNP
Transportation NNP NNP
lost VBD VBD
1 CD CD
1\/8 CD CD
to TO TO
19 CD CD
1\/2 CD CD
; : :
the DT DT
American JJ JJ
depositary JJ JJ
receipts NNS NNS
of IN IN
Jaguar NNP NNP
were VBD VBD
off RB RB
1\/4 CD CD
to TO TO
10 CD CD
1\/4 CD CD
; : :
MCI NNP NNP
Communications NNPS NNP
slipped VBD VBD
2 CD CD
1\/4 CD CD
to TO TO
43 CD CD
1\/2 CD CD
; : :
Apple NNP NNP
Computer NNP NNP
fell VBD VBD
3 CD CD
to TO TO
45 CD CD
3\/4 CD CD
and CC CC
Nike NNP NNP
dropped VBD VBD
2 CD CD
1\/4 CD CD
to TO TO
66 CD CD
3\/4 CD CD
. . .
<s>
Friday NNP NNP
, , ,
October NNP NNP
13 CD CD
, , ,
1989 CD CD
The DT DT
key JJ JJ
U.S. NNP NNP
and CC CC
foreign JJ JJ
annual JJ JJ
interest NN NN
rates NNS NNS
below RB RB
are VBP VBP
a DT DT
guide NN NN
to TO TO
general JJ JJ
levels NNS NNS
but CC CC
do VBP VBP
n't RB RB
always RB RB
represent VB VB
actual JJ JJ
transactions NNS NNS
. . .
<s>
PRIME JJ JJ
RATE NN NN
: : :
10 CD CD
1\/2 CD CD
% NN NN
. . .
<s>
The DT DT
base NN JJ
rate NN NN
on IN IN
corporate JJ JJ
loans NNS NNS
at IN IN
large JJ JJ
U.S. NNP NNP
money NN NN
center NN NN
commercial JJ JJ
banks NNS NNS
. . .
<s>
FEDERAL JJ JJ
FUNDS NNS NNS
: : :
8 CD CD
13\/16 CD CD
% NN NN
high JJ JJ
, , ,
8 CD CD
1\/2 CD CD
% NN NN
low JJ JJ
, , ,
8 CD CD
5\/8 CD CD
% NN NN
near IN IN
closing NN NN
bid NN NN
, , ,
8 CD CD
3\/4 CD CD
% NN NN
offered VBN VBN
. . .
<s>
Reserves NNS NNS
traded VBN VBD
among IN IN
commercial JJ JJ
banks NNS NNS
for IN IN
overnight JJ JJ
use NN NN
in IN IN
amounts NNS NNS
of IN IN
$ $ $
1 CD CD
million CD CD
or CC CC
more JJR JJR
. . .
<s>
Source NN NN
: : :
Fulton NNP NNP
Prebon NNP NNP
( ( (
U.S.A NNP NNP
. . .
<s>
) ) )
Inc NNP NNP
. . .
<s>
DISCOUNT NN NN
RATE NN NN
: : :
7 CD CD
% NN NN
. . .
<s>
The DT DT
charge NN NN
on IN IN
loans NNS NNS
to TO TO
depository NN JJ
institutions NNS NNS
by IN IN
the DT DT
New NNP NNP
York NNP NNP
Federal NNP NNP
Reserve NNP NNP
Bank NNP NNP
. . .
<s>
CALL NN NN
MONEY NN NN
: : :
9 CD CD
3\/4 CD CD
% NN NN
to TO TO
10 CD CD
% NN NN
. . .
<s>
The DT DT
charge NN NN
on IN IN
loans NNS NNS
to TO TO
brokers NNS NNS
on IN IN
stock NN NN
exchange NN NN
collateral NN NN
. . .
<s>
COMMERCIAL JJ JJ
PAPER NN NN
placed VBN VBN
directly RB RB
by IN IN
General NNP NNP
Motors NNPS NNP
Acceptance NNP NNP
Corp. NNP NNP
: : :
8.60 CD CD
% NN NN
30 CD CD
to TO TO
44 CD CD
days NNS NNS
; : :
8.55 CD CD
% NN NN
45 CD CD
to TO TO
59 CD CD
days NNS NNS
; : :
8.375 CD CD
% NN NN
60 CD CD
to TO TO
79 CD CD
days NNS NNS
; : :
8.50 CD CD
% NN NN
80 CD CD
to TO TO
89 CD CD
days NNS NNS
; : :
8.25 CD CD
% NN NN
90 CD CD
to TO TO
119 CD CD
days NNS NNS
; : :
8.125 CD CD
% NN NN
120 CD CD
to TO TO
149 CD CD
days NNS NNS
; : :
8 CD CD
% NN NN
150 CD CD
to TO TO
179 CD CD
days NNS NNS
; : :
7.625 CD CD
% NN NN
180 CD CD
to TO TO
270 CD CD
days NNS NNS
. . .
<s>
COMMERCIAL JJ JJ
PAPER NN NN
: : :
High-grade JJ JJ
unsecured JJ JJ
notes NNS NNS
sold VBN VBN
through IN IN
dealers NNS NNS
by IN IN
major JJ JJ
corporations NNS NNS
in IN IN
multiples NNS NNS
of IN IN
$ $ $
1,000 CD CD
: : :
8.65 CD CD
% NN NN
30 CD CD
days NNS NNS
; : :
8.55 CD CD
% NN NN
60 CD CD
days NNS NNS
; : :
8.55 CD CD
% NN NN
90 CD CD
days NNS NNS
. . .
<s>
CERTIFICATES NNS NNS
OF IN IN
DEPOSIT NN NN
: : :
8.15 CD CD
% NN NN
one CD CD
month NN NN
; : :
8.15 CD CD
% NN NN
two CD CD
months NNS NNS
; : :
8.13 CD CD
% NN NN
three CD CD
months NNS NNS
; : :
8.11 CD CD
% NN NN
six CD CD
months NNS NNS
; : :
8.08 CD CD
% NN NN
one CD CD
year NN NN
. . .
<s>
Average JJ NN
of IN IN
top JJ JJ
rates NNS NNS
paid VBN VBN
by IN IN
major JJ JJ
New NNP NNP
York NNP NNP
banks NNS NNS
on IN IN
primary JJ JJ
new JJ JJ
issues NNS NNS
of IN IN
negotiable JJ JJ
C.D.s NNS NNS
, , ,
usually RB RB
on IN IN
amounts NNS NNS
of IN IN
$ $ $
1 CD CD
million CD CD
and CC CC
more JJR JJR
. . .
<s>
The DT DT
minimum JJ JJ
unit NN NN
is VBZ VBZ
$ $ $
100,000 CD CD
. . .
<s>
Typical JJ JJ
rates NNS NNS
in IN IN
the DT DT
secondary JJ JJ
market NN NN
: : :
8.65 CD CD
% NN NN
one CD CD
month NN NN
; : :
8.65 CD CD
% NN NN
three CD CD
months NNS NNS
; : :
8.55 CD CD
% NN NN
six CD CD
months NNS NNS
. . .
<s>
BANKERS NNS NNS
ACCEPTANCES NNS NNS
: : :
8.52 CD CD
% NN NN
30 CD CD
days NNS NNS
; : :
8.37 CD CD
% NN NN
60 CD CD
days NNS NNS
; : :
8.15 CD CD
% NN NN
90 CD CD
days NNS NNS
; : :
7.98 CD CD
% NN NN
120 CD CD
days NNS NNS
; : :
7.92 CD CD
% NN NN
150 CD CD
days NNS NNS
; : :
7.80 CD CD
% NN NN
180 CD CD
days NNS NNS
. . .
<s>
Negotiable JJ JJ
, , ,
bank-backed JJ JJ
business NN NN
credit NN NN
instruments NNS NNS
typically RB RB
financing VBG VBG
an DT DT
import NN NN
order NN NN
. . .
<s>
LONDON NNP NNP
LATE JJ JJ
EURODOLLARS NNS NNS
: : :
8 CD CD
13\/16 CD CD
% NN NN
to TO TO
8 CD CD
11\/16 CD CD
% NN NN
one CD CD
month NN NN
; : :
8 CD CD
13\/16 CD CD
% NN NN
to TO TO
8 CD CD
11\/16 CD CD
% NN NN
two CD CD
months NNS NNS
; : :
8 CD CD
13\/16 CD CD
% NN NN
to TO TO
8 CD CD
11\/16 CD CD
% NN NN
three CD CD
months NNS NNS
; : :
8 CD CD
3\/4 CD CD
% NN NN
to TO TO
8 CD CD
5\/8 CD CD
% NN NN
four CD CD
months NNS NNS
; : :
8 CD CD
11\/16 CD CD
% NN NN
to TO TO
8 CD CD
9\/16 CD CD
% NN NN
five CD CD
months NNS NNS
; : :
8 CD CD
5\/8 CD CD
% NN NN
to TO TO
8 CD CD
1\/2 CD CD
% NN NN
six CD CD
months NNS NNS
. . .
<s>
LONDON NNP NNP
INTERBANK NNP RB
OFFERED NNP VBN
RATES NNPS NNS
( ( (
LIBOR NNP NNP
) ) )
: : :
8 CD CD
3\/4 CD CD
% NN NN
one CD CD
month NN NN
; : :
8 CD CD
3\/4 CD CD
% NN NN
three CD CD
months NNS NNS
; : :
8 CD CD
9\/16 CD CD
% NN NN
six CD CD
months NNS NNS
; : :
8 CD CD
9\/16 CD CD
% NN NN
one CD CD
year NN NN
. . .
<s>
The DT DT
average NN NN
of IN IN
interbank NN RB
offered VBN VBN
rates NNS NNS
for IN IN
dollar NN NN
deposits NNS NNS
in IN IN
the DT DT
London NNP NNP
market NN NN
based VBN VBN
on IN IN
quotations NNS NNS
at IN IN
five CD CD
major JJ JJ
banks NNS NNS
. . .
<s>
FOREIGN JJ JJ
PRIME JJ JJ
RATES NNS NNS
: : :
Canada NNP NNP
13.50 CD CD
% NN NN
; : :
Germany NNP NNP
8.50 CD CD
% NN NN
; : :
Japan NNP NNP
4.875 CD CD
% NN NN
; : :
Switzerland NNP NNP
8.50 CD CD
% NN NN
; : :
Britain NNP NNP
15 CD CD
% NN NN
. . .
<s>
These DT DT
rate NN NN
indications NNS NNS
are VBP VBP
n't RB RB
directly RB RB
comparable JJ JJ
; : :
lending NN NN
practices NNS NNS
vary VBP VBP
widely RB RB
by IN IN
location NN NN
. . .
<s>
TREASURY NNP NN
BILLS NNS NNS
: : :
Results NNS NNS
of IN IN
the DT DT
Tuesday NNP NNP
, , ,
October NNP NNP
10 CD CD
, , ,
1989 CD CD
, , ,
auction NN NN
of IN IN
short-term JJ JJ
U.S. NNP NNP
government NN NN
bills NNS NNS
, , ,
sold VBN VBN
at IN IN
a DT DT
discount NN NN
from IN IN
face NN NN
value NN NN
in IN IN
units NNS NNS
of IN IN
$ $ $
10,000 CD CD
to TO TO
$ $ $
1 CD CD
million CD CD
: : :
7.63 CD CD
% NN NN
13 CD CD
weeks NNS NNS
; : :
7.60 CD CD
% NN NN
26 CD CD
weeks NNS NNS
. . .
<s>
FEDERAL NNP NNP
HOME NNP NNP
LOAN NNP NNP
MORTGAGE NNP NNP
CORP NNP NNP
. . .
<s>
( ( (
Freddie NNP NNP
Mac NNP NNP
) ) )
: : :
Posted VBN VBN
yields NNS NNS
on IN IN
30-year JJ JJ
mortgage NN NN
commitments NNS NNS
for IN IN
delivery NN NN
within IN IN
30 CD CD
days NNS NNS
. . .
<s>
9.91 CD CD
% NN NN
, , ,
standard JJ JJ
conventional JJ JJ
fixedrate JJ JJ
mortgages NNS NNS
; : :
7.875 CD CD
% NN NN
, , ,
2 CD CD
% NN NN
rate NN NN
capped VBD VBN
one-year JJ JJ
adjustable JJ JJ
rate NN NN
mortgages NNS NNS
. . .
<s>
Source NN NN
: : :
Telerate NNP NNP
Systems NNPS NNP
Inc NNP NNP
. . .
<s>
FEDERAL NNP NNP
NATIONAL NNP NNP
MORTGAGE NNP NNP
ASSOCIATION NNP NNP
( ( (
Fannie NNP NNP
Mae NNP NNP
) ) )
: : :
Posted VBN VBN
yields NNS NNS
on IN IN
30 CD CD
year NN NN
mortgage NN NN
commitments NNS NNS
for IN IN
delivery NN NN
within IN IN
30 CD CD
days NNS NNS
( ( (
priced VBN VBN
at IN IN
par NN NN
) ) )
9.86 CD CD
% NN NN
, , ,
standard JJ JJ
conventional JJ JJ
fixed-rate JJ JJ
mortgages NNS NNS
; : :
8.85 CD CD
% NN NN
, , ,
6\/2 CD CD
rate NN NN
capped VBD VBD
one-year JJ JJ
adjustable JJ JJ
rate NN NN
mortgages NNS NNS
. . .
<s>
Source NN NN
: : :
Telerate NNP NNP
Systems NNPS NNP
Inc NNP NNP
. . .
<s>
MERRILL NNP NNP
LYNCH NNP NNP
READY NNP NNP
ASSETS NNPS NNP
TRUST NNP NNP
: : :
8.33 CD CD
% NN NN
. . .
<s>
Annualized VBN JJ
average JJ JJ
rate NN NN
of IN IN
return NN NN
after IN IN
expenses NNS NNS
for IN IN
the DT DT
past JJ JJ
30 CD CD
days NNS NNS
; : :
not RB RB
a DT DT
forecast NN NN
of IN IN
future JJ JJ
returns NNS NNS
. . .
<s>
Pension NN NN
funds NNS NNS
, , ,
insurers NNS NNS
and CC CC
other JJ JJ
behemoths NNS NNS
of IN IN
the DT DT
investing NN NN
world NN NN
said VBD VBD
they PRP PRP
began VBD VBD
scooping VBG VBG
up RP RP
stocks NNS NNS
during IN IN
Friday NNP NNP
's POS POS
market NN NN
rout NN NN
. . .
<s>
And CC CC
they PRP PRP
plan VBP VBP
to TO TO
buy VB VB
more JJR JJR
today NN NN
. . .
<s>
Rightly RB RB
or CC CC
wrongly RB RB
, , ,
many JJ JJ
giant JJ JJ
institutional JJ JJ
investors NNS NNS
appear VBP VBP
to TO TO
be VB VB
fighting VBG VBG
the DT DT
latest JJS JJS
war NN NN
by IN IN
applying VBG VBG
the DT DT
lesson NN NN
they PRP PRP
learned VBD VBD
in IN IN
the DT DT
October NNP NNP
1987 CD CD
crash NN NN
: : :
Buying NN VBG
at IN IN
the DT DT
bottom NN NN
pays VBZ VBZ
off RP RP
. . .
<s>
To TO TO
be VB VB
sure JJ JJ
, , ,
big JJ JJ
investors NNS NNS
might MD MD
put VB VB
away RP RP
their PRP$ PRP$
checkbooks NNS NNS
in IN IN
a DT DT
hurry NN NN
if IN IN
stocks NNS NNS
open VBP VBP
sharply RB RB
lower JJR JJR
today NN NN
. . .
<s>
They PRP PRP
could MD MD
still RB RB
panic VB VB
and CC CC
bail VB VB
out IN RP
of IN IN
the DT DT
market NN NN
. . .
<s>
But CC CC
their PRP$ PRP$
1987 CD CD
performance NN NN
indicates VBZ VBZ
that IN IN
they PRP PRP
wo MD MD
n't RB RB
abandon VB VB
stocks NNS NNS
unless IN IN
conditions NNS NNS
get VBP VBP
far RB RB
worse JJR JJR
. . .
<s>
`` `` ``
Last JJ JJ
time NN NN
, , ,
we PRP PRP
got VBD VBD
rewarded VBN VBN
for IN IN
going VBG VBG
out RP RB
and CC CC
buying VBG VBG
stocks NNS NNS
when WRB WRB
the DT DT
panic NN NN
was VBD VBD
the DT DT
worst JJS JJS
, , ,
'' '' ''
said VBD VBD
John NNP NNP
W. NNP NNP
Rogers NNP NNP
, , ,
president NN NN
of IN IN
Chicago-based JJ JJ
Ariel NNP NNP
Capital NNP NNP
Management NNP NNP
Inc. NNP NNP
, , ,
which WDT WDT
manages VBZ VBZ
$ $ $
1.1 CD CD
billion CD CD
of IN IN
stocks NNS NNS
. . .
<s>
Mr. NNP NNP
Rogers NNP NNP
spent VBD VBD
half PDT PDT
his PRP$ PRP$
cash NN NN
on IN IN
hand NN NN
Friday NNP NNP
for IN IN
`` `` ``
our PRP$ PRP$
favorite JJ JJ
stocks NNS NNS
that WDT WDT
have VBP VBP
fallen VBN VBN
apart RB RB
. . .
<s>
'' '' ''
He PRP PRP
expects VBZ VBZ
to TO TO
invest VB VB
the DT DT
rest NN NN
if IN IN
the DT DT
market NN NN
weakens VBZ VBZ
further RBR RB
. . .
<s>
Denver-based JJ JJ
portfolio NN NN
manager NN NN
James NNP NNP
Craig NNP NNP
was VBD VBD
n't RB RB
daunted VBN VBD
when WRB WRB
Friday NNP NNP
's POS POS
rout NN NN
shaved VBD VBD
$ $ $
40 CD CD
million CD CD
from IN IN
the DT DT
value NN NN
of IN IN
the DT DT
$ $ $
752 CD CD
million CD CD
Janus NNP NNP
Fund NNP NNP
he PRP PRP
oversees VBZ VBZ
. . .
<s>
`` `` ``
I PRP PRP
waited VBD VBD
to TO TO
make VB VB
sure JJ JJ
all PDT PDT
the DT DT
program NN NN
trades NNS NNS
had VBD VBD
kicked VBN VBN
through IN RP
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
Then RB RB
he PRP PRP
jumped VBD VBD
into IN IN
the DT DT
market NN NN
: : :
`` `` ``
I PRP PRP
spent VBD VBD
$ $ $
30 CD CD
million CD CD
in IN IN
the DT DT
last JJ JJ
half-hour NN NN
. . .
<s>
'' '' ''
Other JJ JJ
money NN NN
managers NNS NNS
also RB RB
opened VBD VBD
their PRP$ PRP$
wallets NNS NNS
. . .
<s>
`` `` ``
I PRP PRP
was VBD VBD
buying VBG VBG
at IN IN
the DT DT
close NN JJ
( ( (
Friday NNP NNP
) ) )
and CC CC
I PRP PRP
'll MD MD
be VB VB
buying VBG VBG
again RB RB
because IN IN
I PRP PRP
know VBP VBP
we PRP PRP
're VBP VBP
getting VBG VBG
good JJ JJ
value NN NN
, , ,
'' '' ''
said VBD VBD
Frederick NNP NNP
A. NNP NNP
Moran NNP NNP
, , ,
president NN NN
of IN IN
Moran NNP NNP
Asset NNP NNP
Management NNP NNP
Inc. NNP NNP
, , ,
Greenwich NNP NNP
, , ,
Conn NNP NNP
. . .
<s>
`` `` ``
There EX EX
is VBZ VBZ
no DT DT
justification NN NN
on IN IN
the DT DT
fundamental JJ JJ
level NN NN
for IN IN
this DT DT
crash NN NN
. . .
<s>
'' '' ''
Unlike IN IN
mutual JJ JJ
funds NNS NNS
, , ,
which WDT WDT
can MD MD
be VB VB
forced VBN VBN
to TO TO
sell VB VB
stockholdings NNS NNS
when WRB WRB
investors NNS NNS
rush VBP VBP
to TO TO
withdraw VB VB
money NN NN
, , ,
big JJ JJ
investors NNS NNS
such JJ JJ
as IN IN
pension NN NN
funds NNS NNS
and CC CC
insurance NN NN
companies NNS NNS
can MD MD
decide VB VB
to TO TO
ride VB VB
out RP RP
market NN NN
storms NNS NNS
without IN IN
jettisoning VBG VBG
stock NN NN
. . .
<s>
Most RBS RBS
often RB RB
, , ,
they PRP PRP
do VBP VBP
just RB RB
that IN DT
, , ,
because IN IN
stocks NNS NNS
have VBP VBP
proved VBN VBN
to TO TO
be VB VB
the DT DT
best-performing JJ JJ
long-term JJ JJ
investment NN NN
, , ,
attracting VBG VBG
about IN RB
$ $ $
1 CD CD
trillion CD CD
from IN IN
pension NN NN
funds NNS NNS
alone RB RB
. . .
<s>
`` `` ``
If IN IN
you PRP PRP
bought VBD VBD
after IN IN
the DT DT
crash NN NN
, , ,
you PRP PRP
did VBD VBD
very RB RB
very RB RB
well RB RB
off IN IN
the DT DT
bottom NN NN
, , ,
'' '' ''
said VBD VBD
Stephen NNP NNP
B. NNP NNP
Timbers NNP NNP
, , ,
chief JJ JJ
investment NN NN
officer NN NN
of IN IN
Chicago-based JJ JJ
Kemper NNP NNP
Financial NNP NNP
Services NNPS NNP
Inc NNP NNP
. . .
<s>
The DT DT
$ $ $
56 CD CD
billion CD CD
California NNP NNP
Public NNP NNP
Employees NNP NNP
Retirement NNP NNP
System NNP NNP
, , ,
for IN IN
one CD CD
, , ,
added VBD VBD
$ $ $
1 CD CD
billion CD CD
to TO TO
its PRP$ PRP$
stock NN NN
portfolio NN NN
two CD CD
years NNS NNS
ago RB RB
. . .
<s>
`` `` ``
The DT DT
last JJ JJ
crash NN NN
taught VBD VBD
institutional JJ JJ
investors NNS NNS
that IN IN
they PRP PRP
have VBP VBP
to TO TO
be VB VB
long-term JJ JJ
holders NNS NNS
, , ,
and CC CC
that IN IN
they PRP PRP
ca MD MD
n't RB RB
react VB VB
to TO TO
short-term JJ JJ
events NNS NNS
, , ,
good JJ JJ
or CC CC
bad JJ JJ
, , ,
'' '' ''
said VBD VBD
Stephen NNP NNP
L. NNP NNP
Nesbitt NNP NNP
, , ,
senior JJ JJ
vice NN NN
president NN NN
for IN IN
the DT DT
pension NN NN
consultants NNS NNS
Wilshire NNP NNP
Associates NNPS NNP
in IN IN
Santa NNP NNP
Monica NNP NNP
, , ,
Calif NNP NNP
. . .
<s>
`` `` ``
Those DT DT
that WDT WDT
pulled VBD VBD
out RP RP
( ( (
of IN IN
stocks NNS NNS
) ) )
regretted VBN VBD
it PRP PRP
, , ,
'' '' ''
he PRP PRP
said VBD VBD
, , ,
`` `` ``
so IN RB
I PRP PRP
doubt VBP VBP
you PRP PRP
'll MD MD
see VB VB
any DT DT
significant JJ JJ
changes NNS NNS
'' '' ''
in IN IN
institutional JJ JJ
portfolios NNS NNS
as IN IN
a DT DT
result NN NN
of IN IN
Friday NNP NNP
's POS POS
decline NN NN
. . .
<s>
Stocks NNS NNS
, , ,
as IN IN
measured VBN VBN
by IN IN
the DT DT
Standard NNP NNP
& CC CC
Poor NNP NNP
's POS POS
500-stock JJ NNP
index NN NN
, , ,
have VBP VBP
been VBN VBN
stellar JJ JJ
performers NNS NNS
this DT DT
year NN NN
, , ,
rising VBG VBG
27.97 CD CD
% NN NN
before IN IN
Friday NNP NNP
's POS POS
plunge NN NN
, , ,
excluding VBG VBG
dividends NNS NNS
. . .
<s>
Even RB RB
Friday NNP NNP
's POS POS
slump NN NN
leaves VBZ VBZ
investors NNS NNS
ahead RB RB
more JJR JJR
than IN IN
20 CD CD
% NN NN
, , ,
well RB RB
above IN IN
the DT DT
annual JJ JJ
average NN NN
for IN IN
stocks NNS NNS
over IN IN
several JJ JJ
decades NNS NNS
. . .
<s>
`` `` ``
You PRP PRP
could MD MD
go VB VB
down RB RB
400 CD CD
points NNS NNS
and CC CC
still RB RB
have VB VB
a DT DT
good JJ JJ
year NN NN
in IN IN
the DT DT
market NN NN
, , ,
'' '' ''
said VBD VBD
James NNP NNP
D. NNP NNP
Awad NNP NNP
, , ,
president NN NN
of IN IN
New NNP NNP
York-based JJ JJ
BMI NNP NNP
Capital NNP NNP
Corp NNP NNP
. . .
<s>
Mr. NNP NNP
Awad NNP NNP
, , ,
however RB RB
, , ,
worries VBZ VBZ
that IN IN
the DT DT
market NN NN
`` `` ``
could MD MD
go VB VB
down RB RB
800 CD CD
or CC CC
900 CD CD
points NNS NNS
in IN IN
the DT DT
next JJ JJ
few JJ JJ
days NNS NNS
. . .
<s>
It PRP PRP
can MD MD
happen VB VB
before IN IN
you PRP PRP
can MD MD
turn VB VB
around RP RB
. . .
<s>
'' '' ''
He PRP PRP
said VBD VBD
he PRP PRP
discerns VBZ VBZ
many JJ JJ
parallels NNS NNS
with IN IN
1987 CD CD
, , ,
including VBG VBG
the DT DT
emphasis NN NN
on IN IN
takeover NN NN
stocks NNS NNS
and CC CC
the DT DT
re-emergence NN NN
of IN IN
computerized JJ JJ
program NN NN
trading NN NN
. . .
<s>
`` `` ``
The DT DT
only JJ JJ
thing NN NN
you PRP PRP
do VBP VBP
n't RB RB
have VB VB
, , ,
'' '' ''
he PRP PRP
said VBD VBD
, , ,
`` `` ``
is VBZ VBZ
the DT DT
` `` ``
portfolio NN NN
insurance NN NN
' '' ''
phenomenon NN NN
overlaid NN VBN
on IN IN
the DT DT
rest NN NN
. . .
<s>
'' '' ''
Most JJS RBS
institutional JJ JJ
investors NNS NNS
have VBP VBP
abandoned VBN VBN
the DT DT
portfolio NN NN
insurance NN NN
hedging NN NN
technique NN NN
, , ,
which WDT WDT
is VBZ VBZ
widely RB RB
thought VBN VBN
to TO TO
have VB VB
worsened VBN VBN
the DT DT
1987 CD CD
crash NN NN
. . .
<s>
Not RB RB
really RB RB
insurance NN NN
, , ,
this DT DT
tactic NN NN
was VBD VBD
designed VBN VBN
to TO TO
soften VB VB
the DT DT
blow NN NN
of IN IN
declining VBG VBG
stock NN NN
prices NNS NNS
and CC CC
generate VB VB
an DT DT
offsetting JJ VBG
profit NN NN
by IN IN
selling VBG VBG
waves NNS NNS
of IN IN
S&P NNP NNP
futures NNS NNS
contracts NNS NNS
. . .
<s>
In IN IN
its PRP$ PRP$
severest JJ JJS
test NN NN
, , ,
the DT DT
$ $ $
60 CD CD
billion CD CD
of IN IN
portfolio NN NN
insurance NN NN
in IN IN
effect NN NN
in IN IN
the DT DT
1987 CD CD
crash NN NN
did VBD VBD
n't RB RB
work VB VB
, , ,
as IN IN
stock NN NN
buyers NNS NNS
disappeared VBD VBD
and CC CC
stock NN NN
and CC CC
futures NNS NNS
prices NNS NNS
became VBD VBD
disconnected VBN VBN
. . .
<s>
Even RB RB
without IN IN
portfolio NN NN
insurance NN NN
, , ,
market NN NN
conditions NNS NNS
were VBD VBD
grim JJ JJ
Friday NNP NNP
, , ,
money NN NN
managers NNS NNS
said VBD VBD
. . .
<s>
Neil NNP NNP
Weisman NNP NNP
, , ,
whose WP$ WP$
New NNP NNP
York-based JJ JJ
Chilmark NNP NNP
Capital NNP NNP
Partners NNPS NNP
had VBD VBD
converted VBN VBN
85 CD CD
% NN NN
of IN IN
its PRP$ PRP$
$ $ $
220 CD CD
million CD CD
investment NN NN
pool NN NN
to TO TO
cash VB VB
in IN IN
recent JJ JJ
months NNS NNS
, , ,
said VBD VBD
he PRP PRP
was VBD VBD
besieged VBN VBN
by IN IN
Wall NNP NNP
Street NNP NNP
firms NNS NNS
Friday NNP NNP
asking VBG VBG
him PRP PRP
to TO TO
take VB VB
stock NN NN
off RP IN
their PRP$ PRP$
hands NNS NNS
. . .
<s>
`` `` ``
We PRP PRP
got VBD VBD
calls NNS NNS
from IN IN
big JJ JJ
block NN NN
houses NNS NNS
asking VBG VBG
us PRP PRP
if IN IN
we PRP PRP
want VBP VBP
to TO TO
make VB VB
bids NNS NNS
on IN IN
anything NN NN
, , ,
'' '' ''
said VBD VBD
Mr. NNP NNP
Weisman NNP NNP
, , ,
who WP WP
, , ,
happy JJ JJ
with IN IN
his PRP$ PRP$
returns NNS NNS
on IN IN
investments NNS NNS
chalked VBD VBN
up RP RP
earlier RBR RBR
, , ,
declined VBD VBD
the DT DT
offers NNS NNS
. . .
<s>
Mr. NNP NNP
Weisman NNP NNP
predicts VBZ VBZ
stocks NNS NNS
will MD MD
appear VB VB
to TO TO
stabilize VB VB
in IN IN
the DT DT
next JJ JJ
few JJ JJ
days NNS NNS
before IN IN
declining VBG VBG
again RB RB
, , ,
trapping VBG VBG
more JJR JJR
investors NNS NNS
. . .
<s>
`` `` ``
I PRP PRP
think VBP VBP
it PRP PRP
will MD MD
be VB VB
a DT DT
rigor NN NN
mortis : NN
rally NN NN
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
Meanwhile RB RB
, , ,
Friday NNP NNP
brought VBD VBD
a DT DT
reprieve NN NN
for IN IN
money NN NN
managers NNS NNS
whose WP$ WP$
investment NN NN
styles NNS NNS
had VBD VBD
put VBN VBN
them PRP PRP
at IN IN
odds NNS NNS
with IN IN
the DT DT
market NN NN
rally NN NN
. . .
<s>
Especially RB RB
gleeful JJ JJ
were VBD VBD
the DT DT
short JJ JJ
sellers NNS NNS
, , ,
who WP WP
have VBP VBP
been VBN VBN
pounded VBN VBN
by IN IN
this DT DT
year NN NN
's POS POS
market NN NN
climb NN NN
. . .
<s>
The DT DT
shorts NNS NNS
sell VBP VBP
borrowed VBN VBN
shares NNS NNS
, , ,
hoping VBG VBG
to TO TO
profit VB NN
by IN IN
replacing VBG VBG
them PRP PRP
later RB RB
at IN IN
a DT DT
lower JJR JJR
price NN NN
. . .
<s>
The DT DT
nation NN NN
's POS POS
largest JJS JJS
short-selling JJ NN
operation NN NN
is VBZ VBZ
Feshbach NNP NNP
Brothers NNPS NNP
, , ,
Palo NNP NNP
Alto NNP NNP
, , ,
Calif. NNP NNP
, , ,
which WDT WDT
said VBD VBD
last JJ JJ
May NNP NNP
that IN IN
its PRP$ PRP$
short JJ JJ
positions NNS NNS
had VBD VBD
shown VBN VBN
losses NNS NNS
of IN IN
10 CD CD
% NN NN
for IN IN
the DT DT
year NN NN
up RP IN
to TO TO
that DT DT
point NN NN
. . .
<s>
All DT DT
that WDT WDT
now RB RB
has VBZ VBZ
changed VBN VBN
. . .
<s>
`` `` ``
We PRP PRP
're VBP VBP
ahead RB RB
for IN IN
the DT DT
year NN NN
because IN IN
of IN IN
Friday NNP NNP
, , ,
'' '' ''
said VBD VBD
the DT DT
firm NN NN
's POS POS
Kurt NNP NNP
Feshbach NNP NNP
. . .
<s>
`` `` ``
We PRP PRP
're VBP VBP
not RB RB
making VBG VBG
a DT DT
killing NN NN
, , ,
but CC CC
we PRP PRP
had VBD VBD
a DT DT
good JJ JJ
day NN NN
. . .
<s>
Food NN NNP
and CC CC
Drug NNP NNP
Administration NNP NNP
spokesman NN NN
Jeff NNP NNP
Nesbit NNP NNP
said VBD VBD
the DT DT
agency NN NN
has VBZ VBZ
turned VBN VBN
over RP RP
evidence NN NN
in IN IN
a DT DT
criminal JJ JJ
investigation NN NN
concerning VBG VBG
Vitarine NNP NNP
Pharmaceuticals NNP NNP
Inc. NNP NNP
to TO TO
the DT DT
U.S. NNP NNP
Attorney NNP NNP
's POS POS
office NN NN
in IN IN
Baltimore NNP NNP
. . .
<s>
Neither DT DT
Vitarine NNP NNP
nor CC CC
any DT DT
of IN IN
the DT DT
Springfield NNP NNP
Gardens NNPS NNP
, , ,
N.Y. NNP NNP
, , ,
company NN NN
's POS POS
officials NNS NNS
or CC CC
employees NNS NNS
have VBP VBP
been VBN VBN
charged VBN VBN
with IN IN
any DT DT
crimes NNS NNS
. . .
<s>
Vitarine NNP NNP
won VBD VBD
approval NN NN
to TO TO
market VB VB
a DT DT
version NN NN
of IN IN
a DT DT
blood NN NN
pressure NN NN
medicine NN NN
but CC CC
acknowledged VBD VBD
that IN IN
it PRP PRP
substituted VBN VBD
a DT DT
SmithKline NNP NNP
Beecham NNP NNP
PLC NNP NNP
product NN NN
as IN IN
its PRP$ PRP$
own JJ JJ
in IN IN
tests NNS NNS
. . .
<s>
Mr. NNP NNP
Nesbit NNP NNP
also RB RB
said VBD VBD
the DT DT
FDA NNP NNP
has VBZ VBZ
asked VBN VBN
Bolar NNP NNP
Pharmaceutical NNP NNP
Co. NNP NNP
to TO TO
recall VB VB
at IN IN
the DT DT
retail JJ JJ
level NN NN
its PRP$ PRP$
urinary JJ JJ
tract NN NN
antibiotic JJ NN
. . .
<s>
But CC CC
so RB RB
far RB RB
the DT DT
company NN NN
has VBZ VBZ
n't RB RB
complied VBN VBN
with IN IN
that DT DT
request NN NN
, , ,
the DT DT
spokesman NN NN
said VBD VBD
. . .
<s>
Bolar NNP NNP
, , ,
the DT DT
subject NN NN
of IN IN
a DT DT
criminal JJ JJ
investigation NN NN
by IN IN
the DT DT
FDA NNP NNP
and CC CC
the DT DT
Inspector NNP NNP
General NNP NNP
's POS POS
office NN NN
of IN IN
the DT DT
Health NNP NNP
and CC CC
Human NNP NNP
Services NNP NNP
Department NNP NNP
, , ,
only RB RB
agreed VBD VBD
to TO TO
recall VB VB
two CD CD
strengths NNS NNS
of IN IN
its PRP$ PRP$
version NN NN
of IN IN
Macrodantin NNP NNP
`` `` ``
as IN RB
far RB RB
down RP RB
as RB IN
direct JJ JJ
customers NNS NNS
, , ,
mostly RB RB
wholesalers NNS NNS
, , ,
'' '' ''
Mr. NNP NNP
Nesbit NNP NNP
said VBD VBD
. . .
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Bolar NNP NNP
, , ,
of IN IN
Copiague NNP NNP
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a DT DT
voluntary JJ JJ
recall NN NN
of IN IN
both DT DT
its PRP$ PRP$
100 CD CD
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and CC CC
50 CD CD
milligram JJ NN
versions NNS NNS
of IN IN
the DT DT
drug NN NN
. . .
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The DT DT
FDA NNP NNP
has VBZ VBZ
said VBN VBD
it PRP PRP
presented VBD VBD
evidence NN NN
it PRP PRP
uncovered VBD VBD
to TO TO
the DT DT
company NN NN
indicating VBG VBG
that IN IN
Bolar NNP NNP
substituted VBN VBD
the DT DT
brand-name JJ JJ
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for IN IN
its PRP$ PRP$
own JJ JJ
to TO TO
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approval NN NN
to TO TO
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generic JJ JJ
versions NNS NNS
of IN IN
Macrodantin NNP NNP
. . .
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has VBZ VBZ
denied VBN VBN
that IN IN
it PRP PRP
switched VBD VBD
the DT DT
brand-name JJ JJ
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for IN IN
its PRP$ PRP$
own JJ JJ
in IN IN
such JJ JJ
testing NN NN
. . .
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West JJ JJ
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retailer NN NN
ASKO NNP NNP
Deutsche NNP NNP
Kaufhaus NNP NNP
AG NNP NNP
plans VBZ VBZ
to TO TO
challenge VB VB
the DT DT
legality NN NN
of IN IN
a DT DT
widely RB RB
employed VBN VBN
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of IN IN
companies NNS NNS
in IN IN
the DT DT
Netherlands NNP NNPS
. . .
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The DT DT
eventual JJ JJ
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decision NN NN
could MD MD
become VB VB
a DT DT
landmark NN NN
in IN IN
Dutch JJ JJ
corporate JJ JJ
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because IN IN
the DT DT
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ASKO : NNP
plans NNS VBZ
to TO TO
file VB VB
would MD MD
be VB VB
the DT DT
first JJ JJ
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the DT DT
entire JJ JJ
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and CC CC
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of IN IN
companies NNS NNS
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to TO TO
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trusts NNS NNS
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of IN IN
common JJ JJ
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. . .
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to TO TO
now RB RB
only RB JJ
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aspects NNS NNS
of IN IN
these DT DT
defenses NNS NNS
have VBP VBP
been VBN VBN
challenged VBN VBN
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though IN IN
unsuccessfully RB RB
, , ,
ASKO NNP NNP
's POS POS
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lawyers NNS NNS
noted VBD VBD
. . .
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the DT DT
courts NNS NNS
uphold VB VB
the DT DT
validity NN NN
of IN IN
this DT DT
type NN NN
of IN IN
defense NN NN
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ASKO NNP NNP
will MD MD
then RB RB
ask VB VB
the DT DT
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to TO TO
overturn VB VB
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a DT DT
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deployed VBN VBN
by IN IN
Koninklijke NNP NNP
Ahold NNP NNP
NV NNP NNP
. . .
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ASKO NNP NNP
says VBZ VBZ
the DT DT
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to TO TO
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preferred JJ JJ
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to TO TO
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and CC CC
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the DT DT
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and CC CC
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of IN IN
ASKO NNP NNP
and CC CC
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. . .
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through IN IN
its PRP$ PRP$
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lawyers NNS NNS
, , ,
ASKO NNP NNP
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disclosed VBD VBD
it PRP PRP
holds VBZ VBZ
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15 CD CD
% NN NN
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in IN IN
Ahold NNP NNP
. . .
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was VBD VBD
previously RB RB
thought VBN VBN
ASKO NNP NNP
held VBD VBD
a DT DT
13.6 CD CD
% NN NN
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that WDT WDT
was VBD VBD
accumulated VBN VBN
since IN IN
July NNP NNP
. . .
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spokesman NN NN
for IN IN
Ahold NNP NNP
said VBD VBD
his PRP$ PRP$
company NN NN
is VBZ VBZ
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of IN IN
its PRP$ PRP$
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and CC CC
the DT DT
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of IN IN
the DT DT
preferred-share JJ NN
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. . .
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termed VBD VBD
ASKO NNP NNP
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actions NNS NNS
as IN IN
`` `` ``
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'' '' ''
to TO TO
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cooperation NN NN
among IN IN
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retailers NNS NNS
. . .
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Bank NNP NNP
Chairman NNP NNP
Willard NNP NNP
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is VBZ VBZ
a DT DT
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and CC CC
a DT DT
loyal JJ JJ
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, , ,
but CC CC
on IN IN
Friday NNP NNP
morning NN NN
he PRP PRP
had VBD VBD
few JJ JJ
kind JJ JJ
words NNS NNS
for IN IN
President NNP NNP
Bush NNP NNP
's POS POS
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. . .
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are VBP VBP
some DT DT
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out RB RB
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, , ,
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as IN IN
the DT DT
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relations NNS NNS
with IN IN
Japan NNP NNP
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to TO TO
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the DT DT
subject NN NN
of IN IN
major JJ JJ
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, , ,
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said VBD VBD
in IN IN
an DT DT
interview NN NN
. . .
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'd MD MD
like VB VB
to TO TO
see VB VB
that DT DT
initiative NN NN
, , ,
and CC CC
I PRP PRP
have VBP VBP
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. . .
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is VBZ VBZ
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a DT DT
big JJ JJ
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, , ,
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. . .
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hours NNS NNS
later RB RB
, , ,
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stock NN NN
market NN NN
dropped VBD VBD
190 CD CD
points NNS NNS
. . .
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tried VBD VBD
to TO TO
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each DT DT
other JJ JJ
for IN IN
the DT DT
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, , ,
although IN IN
many JJ JJ
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doubt VBP VBP
that IN IN
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was VBD VBD
singly RB RB
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for IN IN
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Street NNP NNP
's POS POS
woes NNS NNS
. . .
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Mr. NNP NNP
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's POS POS
comments NNS NNS
make VBP VBP
one CD CD
thing NN NN
clear JJ JJ
: : :
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on IN IN
Wall NNP NNP
Street NNP NNP
wonder NN VBP
if IN IN
anyone NN NN
is VBZ VBZ
in IN IN
charge NN NN
of IN IN
economic JJ JJ
policy NN NN
. . .
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this DT DT
: : :
-- : :
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11:59 CD CD
p.m. NN RB
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, , ,
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Bush NNP NNP
must MD MD
order VB VB
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of IN IN
automatic JJ JJ
, , ,
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cuts NNS NNS
in IN IN
government NN NN
spending NN NN
to TO TO
comply VB VB
with IN IN
the DT DT
Gramm-Rudman NNP NNP
budget NN NN
law NN NN
. . .
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cuts NNS NNS
are VBP VBP
necessary JJ JJ
because IN IN
Congress NNP NNP
and CC CC
the DT DT
administration NN NN
have VBP VBP
failed VBN VBN
to TO TO
reach VB VB
agreement NN NN
on IN IN
a DT DT
deficit-cutting JJ JJ
bill NN NN
. . .
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`` `` ``
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simply RB RB
do VBP VBP
n't RB RB
have VB VB
strong JJ JJ
leadership NN NN
to TO TO
try VB VB
to TO TO
reduce VB VB
the DT DT
deficit NN NN
and CC CC
make VB VB
tough JJ JJ
choices NNS NNS
, , ,
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Budget NNP NNP
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Chairman NNP NNP
Leon NNP NNP
Panetta NNP NNP
( ( (
D. NNP NNP
, , ,
Calif NNP NNP
. . .
<s>
) ) )
said VBD VBD
yesterday NN NN
on IN IN
NBC NNP NNP
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's POS POS
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the DT DT
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. . .
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For IN IN
the DT DT
last JJ JJ
two CD CD
weeks NNS NNS
, , ,
the DT DT
Bush NNP NNP
administration NN NN
and CC CC
the DT DT
Federal NNP NNP
Reserve NNP NNP
have VBP VBP
been VBN VBN
engaged VBN VBN
in IN IN
a DT DT
semi-public JJ JJ
battle NN NN
over IN IN
international JJ JJ
economic JJ JJ
policy NN NN
. . .
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administration NN NN
has VBZ VBZ
been VBN VBN
trying VBG VBG
to TO TO
push VB VB
the DT DT
dollar NN NN
lower RBR RBR
; : :
the DT DT
Fed NNP NNP
has VBZ VBZ
been VBN VBN
resisting VBG VBG
. . .
<s>
`` `` ``
One CD CD
of IN IN
the DT DT
things NNS NNS
that WDT WDT
continues VBZ VBZ
to TO TO
worry VB VB
me PRP PRP
is VBZ VBZ
this DT DT
monetary JJ JJ
warfare NN NN
between IN IN
the DT DT
Treasury NNP NNP
Department NNP NNP
and CC CC
the DT DT
Federal NNP NNP
Reserve NNP NNP
Board NNP NNP
, , ,
'' '' ''
said VBD VBD
Lawrence NNP NNP
Kudlow NNP NNP
, , ,
a DT DT
Bear NNP NNP
, , ,
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& CC CC
Co. NNP NNP
economist NN NN
, , ,
on IN IN
ABC NNP NNP
's POS POS
`` `` ``
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Week NNP NNP
. . .
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'' '' ''
-- : :
The DT DT
administration NN NN
has VBZ VBZ
sent VBN VBN
out RP RP
confusing JJ JJ
signals NNS NNS
about IN IN
its PRP$ PRP$
response NN NN
to TO TO
a DT DT
recent JJ JJ
spate NN NN
of IN IN
airline NN NN
takeovers NNS NNS
. . .
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month NN NN
, , ,
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Secretary NNP NNP
Sam NNP NNP
Skinner NNP NNP
forced VBD VBD
Northwest NNP NNP
Airlines NNPS NNP
to TO TO
reduce VB VB
a DT DT
stake NN NN
held VBN VBN
by IN IN
KLM NNP NNP
Royal NNP NNP
Dutch NNP NNP
Airlines NNPS NNP
. . .
<s>
But CC CC
he PRP PRP
has VBZ VBZ
since IN RB
run VBN VBN
into IN IN
opposition NN NN
from IN IN
the DT DT
Treasury NNP NNP
and CC CC
the DT DT
White NNP NNP
House NNP NNP
over IN IN
that DT DT
decision NN NN
. . .
<s>
And CC CC
he PRP PRP
has VBZ VBZ
kept VBN VBN
mum : JJ
on IN IN
how WRB WRB
his PRP$ PRP$
decision NN NN
might MD MD
affect VB VB
a DT DT
bid NN NN
for IN IN
United NNP NNP
Airlines NNPS NNP
, , ,
which WDT WDT
includes VBZ VBZ
a DT DT
big JJ JJ
stake NN NN
by IN IN
British NNP NNP
Airways NNPS NNP
PLC NNP NNP
. . .
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analysts NNS NNS
say VBP VBP
uncertainty NN NN
about IN IN
Washington NNP NNP
's POS POS
anti-takeover JJ JJ
policy NN NN
was VBD VBD
one CD CD
reason NN NN
that IN IN
financing NN NN
for IN IN
the DT DT
United NNP NNP
Airlines NNPS NNP
takeover NN NN
fell VBD VBD
through RB RP
-- : :
the DT DT
event NN NN
that WDT WDT
triggered VBD VBD
the DT DT
market NN NN
drop NN NN
. . .
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many JJ JJ
ways NNS NNS
, , ,
the DT DT
backdrop NN NN
to TO TO
Friday NNP NNP
's POS POS
stock NN NN
decline NN NN
is VBZ VBZ
eerily RB RB
similar JJ JJ
to TO TO
that DT DT
of IN IN
October NNP NNP
1987 CD CD
's POS POS
508-point JJ JJ
crash NN NN
. . .
<s>
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, , ,
as IN IN
now RB RB
, , ,
the DT DT
budget NN NN
debate NN NN
was VBD VBD
behind IN IN
schedule NN NN
and CC CC
automatic JJ JJ
spending NN JJ
cuts NNS NNS
were VBD VBD
within IN IN
days NNS NNS
of IN IN
taking VBG VBG
hold NN NN
. . .
<s>
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Treasury NNP NNP
was VBD VBD
locked VBN VBN
in IN IN
a DT DT
battle NN NN
over IN IN
international JJ JJ
economic JJ JJ
policy NN NN
, , ,
although IN IN
at IN IN
that DT DT
time NN NN
it PRP PRP
was VBD VBD
with IN IN
West JJ JJ
German JJ JJ
officials NNS NNS
rather RB RB
than IN IN
the DT DT
Federal NNP NNP
Reserve NNP NNP
. . .
<s>
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concern NN NN
about IN IN
official JJ JJ
actions NNS NNS
aimed VBN VBN
at IN IN
takeovers NNS NNS
-- : :
then RB RB
by IN IN
the DT DT
tax-writing JJ JJ
House NNP NNP
Ways NNPS NNP
and CC CC
Means NNP NNP
Committee NNP NNP
rather RB RB
than IN IN
the DT DT
Transportation NNP NNP
Department NNP NNP
-- : :
were VBD VBD
making VBG VBG
markets NNS NNS
nervous JJ JJ
. . .
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The DT DT
1987 CD CD
crash NN NN
brought VBD VBD
the DT DT
Reagan NNP NNP
administration NN NN
and CC CC
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lawmakers NNS NNS
to TO TO
the DT DT
table NN NN
for IN IN
the DT DT
first JJ JJ
budget NN NN
summit NN NN
, , ,
resulting VBG VBG
in IN IN
a DT DT
two-year JJ JJ
plan NN NN
to TO TO
reduce VB VB
the DT DT
deficit NN NN
by IN IN
more JJR JJR
than IN IN
$ $ $
76 CD CD
billion CD CD
-- : :
even RB RB
though IN IN
the DT DT
deficit NN NN
actually RB RB
rose VBD VBD
by IN IN
nearly RB RB
$ $ $
12 CD CD
billion CD CD
during IN IN
that DT DT
period NN NN
. . .
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But CC CC
, , ,
barring VBG VBG
further JJ JJR
drops NNS NNS
in IN IN
the DT DT
market NN NN
this DT DT
week NN NN
, , ,
a DT DT
similar JJ JJ
outcome NN NN
does VBZ VBZ
n't RB RB
seem VB VB
likely RB RB
this DT DT
year NN NN
. . .
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Lawmakers NNS NNS
and CC CC
administration NN NN
officials NNS NNS
agree VBP VBP
that IN IN
Friday NNP NNP
's POS POS
drop NN NN
, , ,
by IN IN
itself PRP PRP
, , ,
is VBZ VBZ
n't RB RB
enough RB JJ
to TO TO
force VB VB
both DT DT
sides NNS NNS
back RB RB
to TO TO
the DT DT
table NN NN
to TO TO
try VB VB
to TO TO
reach VB VB
a DT DT
deficit-reduction NN NN
agreement NN NN
that WDT WDT
would MD MD
be VB VB
more RBR RBR
serious JJ JJ
and CC CC
more RBR RBR
far-reaching JJ JJ
than IN IN
last JJ JJ
spring NN NN
's POS POS
gimmick-ridden JJ JJ
plan NN NN
, , ,
which WDT WDT
still RB RB
is VBZ VBZ
n't RB RB
fully RB RB
implemented VBN VBN
. . .
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One CD CD
of IN IN
the DT DT
biggest JJS JJS
reasons NNS NNS
that IN IN
new JJ JJ
talks NNS NNS
are VBP VBP
n't RB RB
likely JJ JJ
to TO TO
come VB VB
about IN RP
is VBZ VBZ
that IN IN
, , ,
as IN IN
everyone NN NN
learned VBN VBD
in IN IN
1987 CD CD
, , ,
the DT DT
economy NN NN
and CC CC
the DT DT
market NN NN
can MD MD
survive VB VB
a DT DT
one-day JJ JJ
508-point JJ JJ
tumble NN NN
. . .
<s>
`` `` ``
Everybody NN NN
thought VBD VBD
we PRP PRP
were VBD VBD
looking VBG VBG
at IN IN
a DT DT
repetition NN NN
of IN IN
1929 CD CD
, , ,
that IN IN
we PRP PRP
were VBD VBD
looking VBG VBG
at IN IN
a DT DT
recession NN NN
, , ,
'' '' ''
Rep. NNP NNP
Panetta NNP NNP
said VBD VBD
yesterday NN NN
in IN IN
an DT DT
interview NN NN
. . .
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`` `` ``
That DT DT
did VBD VBD
not RB RB
happen VB VB
. . .
<s>
They PRP PRP
learned VBD VBD
they PRP PRP
could MD MD
survive VB VB
it PRP PRP
without IN IN
much JJ JJ
problem NN NN
. . .
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'' '' ''
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administration NN NN
officials NNS NNS
privately RB RB
agree VBP VBP
with IN IN
Mr. NNP NNP
Panetta NNP NNP
, , ,
who WP WP
said VBD VBD
a DT DT
precipitous JJ JJ
drop NN NN
this DT DT
week NN NN
`` `` ``
is VBZ VBZ
going VBG VBG
to TO TO
force VB VB
the DT DT
president NN NN
and CC CC
Congress NNP NNP
to TO TO
take VB VB
a DT DT
much RB JJ
harder JJR JJR
look NN NN
at IN IN
fiscal JJ JJ
policy NN NN
. . .
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'' '' ''
In IN IN
that DT DT
case NN NN
, , ,
there EX EX
will MD MD
be VB VB
plenty NN NN
of IN IN
blame NN NN
to TO TO
go VB VB
around RP RP
. . .
<s>
`` `` ``
There EX EX
is VBZ VBZ
an DT DT
underlying JJ JJ
concern NN NN
on IN IN
the DT DT
part NN NN
of IN IN
the DT DT
American JJ JJ
people NNS NNS
-- : :
and CC CC
there EX RB
should MD MD
be VB VB
- : :
that IN IN
the DT DT
administration NN NN
has VBZ VBZ
not RB RB
gone VBN VBN
far RB RB
enough RB RB
in IN IN
cutting VBG VBG
this DT DT
deficit NN NN
and CC CC
that IN IN
Congress NNP NNP
has VBZ VBZ
been VBN VBN
unwilling JJ JJ
to TO TO
cut VB VB
what WP WP
the DT DT
administration NN NN
asked VBD VBD
us PRP PRP
to TO TO
cut VB VB
, , ,
'' '' ''
said VBD VBD
Senate NNP NNP
Finance NNP NNP
Committee NNP NNP
Chairman NNP NNP
Lloyd NNP NNP
Bentsen NNP NNP
( ( (
D. NNP NNP
, , ,
Texas NNP NNP
) ) )
. . .
<s>
Nevertheless RB RB
, , ,
it PRP PRP
clearly RB RB
will MD MD
take VB VB
more JJR JJR
than IN IN
Friday NNP NNP
's POS POS
190-point JJ JJ
decline NN NN
to TO TO
overcome VB VB
the DT DT
bitter JJ JJ
feelings NNS NNS
that WDT WDT
have VBP VBP
developed VBN VBN
between IN IN
lawmakers NNS NNS
and CC CC
White NNP NNP
House NNP NNP
Budget NNP NNP
Director NNP NNP
Richard NNP NNP
Darman NNP NNP
over IN IN
the DT DT
capital-gains NNS NNS
fight NN NN
. . .
<s>
Hill NNP NNP
Democrats NNPS NNPS
are VBP VBP
particularly RB RB
angry JJ JJ
over IN IN
Mr. NNP NNP
Bush NNP NNP
's POS POS
claim NN NN
that IN IN
the DT DT
capital-gains NNS NNS
cut NN NN
was VBD VBD
part NN NN
of IN IN
April NNP NNP
's POS POS
budget NN NN
accord NN NN
and CC CC
his PRP$ PRP$
insistence NN NN
on IN IN
combining VBG VBG
it PRP PRP
with IN IN
the DT DT
deficit-reduction NN NN
legislation NN NN
. . .
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`` `` ``
There EX EX
is VBZ VBZ
no DT DT
prospect NN NN
of IN IN
any DT DT
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grand JJ JJ
compromise NN NN
or CC CC
deal NN NN
next JJ JJ
year NN NN
because IN IN
the DT DT
administration NN NN
simply RB RB
did VBD VBD
n't RB RB
live VB VB
up RP RP
to TO TO
this DT DT
year NN NN
's POS POS
deal NN NN
, , ,
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Majority NNP NNP
Leader NNP NNP
George NNP NNP
Mitchell NNP NNP
( ( (
D. NNP NNP
, , ,
Maine NNP NNP
) ) )
said VBD VBD
yesterday NN NN
on IN IN
CBS NNP NNP
News NNP NNP
's POS POS
`` `` ``
Face NNP NNP
the DT DT
Nation NNP NNP
. . .
<s>
'' '' ''
During IN IN
last JJ JJ
week NN NN
's POS POS
maneuverings NNS NNS
on IN IN
the DT DT
deficit-cutting JJ JJ
bill NN NN
and CC CC
the DT DT
capital-gains NNS NNS
issue NN NN
, , ,
there EX EX
were VBD VBD
signs NNS NNS
that IN IN
Senate NNP NNP
Republicans NNPS NNP
and CC CC
the DT DT
administration NN NN
were VBD VBD
at IN IN
odds NNS NNS
. . .
<s>
At IN IN
the DT DT
very JJ JJ
moment NN NN
that IN IN
Senate NNP NNP
Republicans NNPS NNPS
were VBD VBD
negotiating VBG VBG
a DT DT
deal NN NN
to TO TO
exclude VB VB
capital NN NN
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it PRP PRP
was VBD VBD
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from IN IN
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for IN IN
itself PRP PRP
. . .
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on IN IN
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and CC CC
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of IN IN
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on IN IN
Friday NNP NNP
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. . .
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is VBZ VBZ
for IN IN
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of IN IN
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) ) )
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of IN IN
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the DT DT
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that IN IN
the DT DT
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Rep. NNP NNP
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that IN IN
OMB NNP NNP
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to TO TO
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added VBD VBD
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getting VBG VBG
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close RB RB
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the DT DT
margins NNS NNS
here RB RB
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'' '' ''
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in IN IN
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to TO TO
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for IN IN
provoking VBG VBG
Friday NNP NNP
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in IN IN
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on IN IN
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of IN IN
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U.S. NNP NNP
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issued VBD VBD
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statement NN NN
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drop NN NN
in IN IN
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on IN IN
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gains NNS NNS
. . .
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`` `` ``
Investors NNS NNS
, , ,
who WP WP
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assets NNS NNS
in IN IN
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of IN IN
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said VBD VBD
. . .
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There EX EX
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to TO TO
support VB VB
a DT DT
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cut NN NN
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said VBD VBD
during IN IN
his PRP$ PRP$
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appearance NN NN
, , ,
`` `` ``
but CC CC
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suggest VBP VBP
that DT DT
is VBZ VBZ
perhaps RB RB
more RBR RBR
than IN IN
any DT DT
of IN IN
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. . .
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The DT DT
following VBG JJ
U.S. NNP NNP
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for IN IN
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Jones NNP NNP
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Report NNP NNP
: : :
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of IN IN
three-month JJ JJ
and CC CC
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bills NNS NNS
. . .
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notes NNS NNS
, , ,
refinancing VBG VBG
about IN RB
$ $ $
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billion CD CD
in IN IN
maturing VBG VBG
debt NN NN
. . .
<s>
$ $ $
9.75 CD CD
billion CD CD
of IN IN
52-week JJ JJ
bills NNS NNS
. . .
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Connecticut NNP NNP
Light NNP NNP
& CC CC
Power NNP NNP
Co. NNP NNP
-- : :
Three CD CD
million CD CD
shares NNS NNS
of IN IN
$ $ $
25 CD CD
preferred VBN JJ
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via IN IN
competitive JJ JJ
bidding NN NN
. . .
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Crude NNP NNP
Carriers NNPS NNP
Ltd. NNP NNP
-- : :
Four CD CD
million CD CD
common JJ JJ
shares NNS NNS
, , ,
via IN IN
Salomon NNP NNP
Brothers NNPS NNP
Inc NNP NNP
. . .
<s>
Baldwin NNP NNP
Technology NNP NNP
Co. NNP NNP
-- : :
2.6 CD CD
million CD CD
Class NNP NNP
A NNP NNP
shares NNS NNS
, , ,
via IN IN
Smith NNP NNP
Barney NNP NNP
Harris NNP NNP
Upham NNP NNP
& CC CC
Co NNP NNP
. . .
<s>
Blockbuster NNP NNP
Entertainment NNP NNP
Corp. NNP NNP
-- : :
$ $ $
250 CD CD
million CD CD
( ( (
face NN NN
amount NN NN
) ) )
Liquid NN NNP
Yield NN NNP
Option NN NNP
Notes NNS NNP
, , ,
via IN IN
Merrill NNP NNP
Lynch NNP NNP
Capital NNP NNP
Markets NNPS NNP
. . .
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Chase NNP NNP
Manhattan NNP NNP
Corp. NNP NNP
-- : :
14 CD CD
million CD CD
common JJ JJ
shares NNS NNS
, , ,
via IN IN
Goldman NNP NNP
, , ,
Sachs NNP NNP
& CC CC
Co NNP NNP
. . .
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Comcast NNP NNP
Corp. NNP NNP
-- : :
$ $ $
150 CD CD
million CD CD
convertible JJ JJ
debentures NNS NNS
, , ,
via IN IN
Merrill NNP NNP
Lynch NNP NNP
. . .
<s>
CSS NNP NNP
Industries NNPS NNP
-- : :
1.3 CD CD
million CD CD
common JJ JJ
shares NNS NNS
, , ,
via IN IN
Merrill NNP NNP
Lynch NNP NNP
. . .
<s>
Eastern NNP NNP
Utilities NNPS NNP
Associates NNPS NNP
-- : :
1.5 CD CD
million CD CD
common JJ JJ
shares NNS NNS
, , ,
via IN IN
PaineWebber NNP NNP
Inc NNP NNP
. . .
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Employee NNP NNP
Benefit NNP NNP
Plans NNP NNP
Inc. NNP NNP
-- : :
Two CD CD
million CD CD
common JJ JJ
shares NNS NNS
, , ,
via IN IN
Dean NNP NNP
Witter NNP NNP
Capital NNP NNP
Markets NNP NNP
. . .
<s>
Exabyte NNP NNP
Corp. NNP NNP
-- : :
2,850,000 CD CD
common JJ JJ
shares NNS NNS
, , ,
via IN IN
Goldman NNP NNP
Sachs NNP NNP
. . .
<s>
Knowledgeware NNP NNP
Inc. NNP NNP
-- : :
2.4 CD CD
million CD CD
common JJ JJ
shares NNS NNS
, , ,
via IN IN
Montgomery NNP NNP
Securities NNPS NNP
. . .
<s>
Oregon NNP NNP
-- : :
$ $ $
100 CD CD
million CD CD
of IN IN
general JJ JJ
obligation NN NN
veterans NNS NNS
' POS POS
tax NN NN
notes NNS NNS
, , ,
Series NN NNP
1989 CD CD
, , ,
via IN IN
competitive JJ JJ
bid NN NN
. . .
<s>
Washington NNP NNP
, , ,
D.C. NNP NNP
-- : :
$ $ $
200 CD CD
million CD CD
of IN IN
1990 CD CD
general JJ JJ
obligation NN NN
tax NN NN
revenue NN NN
notes NNS NNS
( ( (
Series NNP NNP
1990A NNP NNP
) ) )
, , ,
via IN IN
competitive JJ JJ
bid NN NN
. . .
<s>
Virginia NNP NNP
Public NNP NNP
School NNP NNP
Authority NNP NNP
-- : :
$ $ $
55,730,000 CD CD
of IN IN
school NN NN
financing NN NN
bonds NNS NNS
, , ,
1989 CD CD
Series NNP NNP
B NNP NNP
( ( (
1987 CD CD
resolution NN NN
) ) )
, , ,
via IN IN
competitive JJ JJ
bid NN NN
. . .
<s>
Austin NNP NNP
, , ,
Texas NNP NNP
-- : :
$ $ $
68,230,000 CD CD
of IN IN
various JJ JJ
bonds NNS NNS
, , ,
including VBG VBG
$ $ $
32 CD CD
million CD CD
hotel NN NN
occupancy NN NN
tax NN NN
revenue NN NN
bonds NNS NNS
, , ,
Series NNP NNP
1989A NNP NNP
, , ,
and CC CC
$ $ $
36.23 CD CD
million CD CD
convention NN NN
center NN NN
revenue NN NN
bonds NNS NNS
, , ,
Series NNP NNP
1989B NNP NNP
, , ,
via IN IN
a DT DT
Morgan NNP NNP
Stanley NNP NNP
& CC CC
Co. NNP NNP
group NN NN
. . .
<s>
California NNP NNP
Health NNP NNP
Facilities NNP NNP
Financing NNP NNP
Authority NNP NNP
-- : :
$ $ $
144.5 CD CD
million CD CD
of IN IN
Kaiser NNP NNP
Permanente NNP NNP
revenue NN NN
bonds NNS NNS
, , ,
via IN IN
a DT DT
PaineWebber NNP NNP
group NN NN
. . .
<s>
Connecticut NNP NNP
-- : :
$ $ $
100 CD CD
million CD CD
of IN IN
general JJ JJ
obligation NN NN
capital NN NN
appreciation NN NN
bonds NNS NNS
, , ,
College NNP NNP
Savings NNP NNP
Plan NNP NNP
, , ,
1989 CD CD
Series NNP NNP
B NNP NNP
, , ,
via IN IN
a DT DT
Prudential-Bache NNP NNP
Capital NNP NNP
Funding NNP NNP
group NN NN
. . .
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Pennsylvania NNP NNP
Higher JJR NNP
Education NNP NNP
Facilities NNP NNP
Authority NNP NNP
-- : :
$ $ $
117 CD CD
million CD CD
of IN IN
revenue NN NN
bonds NNS NNS
for IN IN
Hahnemann NNP NNP
University NNP NNP
, , ,
Series NNP NNP
1989 CD CD
, , ,
via IN IN
a DT DT
Merrill NNP NNP
Lynch NNP NNP
group NN NN
. . .
<s>
Tennessee NNP NNP
Valley NNP NNP
Authority NNP NNP
-- : :
Three CD CD
billion CD CD
of IN IN
power NN NN
bonds NNS NNS
, , ,
via IN IN
First NNP NNP
Boston NNP NNP
Corp NNP NNP
. . .
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University NNP NNP
of IN IN
Medicine NNP NNP
And CC CC
Dentistry NNP NNP
of IN IN
New NNP NNP
Jersey NNP NNP
-- : :
$ $ $
55 CD CD
million CD CD
of IN IN
Series NNP NNP
C NNP NNP
bonds NNS NNS
, , ,
via IN IN
a DT DT
Prudential-Bache NNP NNP
group NN NN
. . .
<s>
West NNP NNP
Virginia NNP NNP
Parkways NNPS NNP
, , ,
Economic NNP NNP
Development NNP NNP
And CC CC
Tourism NNP NNP
Authority NNP NNP
-- : :
$ $ $
143 CD CD
million CD CD
of IN IN
parkway NN NN
revenue NN NN
bonds NNS NNS
, , ,
Series NN NN
1989 CD CD
, , ,
via IN IN
a DT DT
PaineWebber NNP NNP
group NN NN
. . .
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San NNP NNP
Antonio NNP NNP
, , ,
Texas NNP NNP
-- : :
$ $ $
640 CD CD
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of IN IN
gas NN NN
and CC CC
electric JJ JJ
revenue NN NN
refunding VBG NN
bonds NNS NNS
, , ,
via IN IN
a DT DT
First NNP NNP
Boston NNP NNP
group NN NN
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South NNP NNP
Dakota NNP NNP
Health NNP NNP
& CC CC
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Authority NNP NNP
-- : :
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51.1 CD CD
million CD CD
of IN IN
Rapid NNP NNP
City NNP NNP
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, , ,
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a DT DT
Dougherty NNP NNP
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& CC CC
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investors NNS NNS
matched VBD VBD
their PRP$ PRP$
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institutional JJ JJ
brethren NNS NNS
in IN IN
anxiety NN NN
over IN IN
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, , ,
but CC CC
most JJS JJS
seemed VBN VBD
to TO TO
be VB VB
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approach NN NN
and CC CC
said VBD VBD
they PRP PRP
were VBD VBD
resigned VBN VBN
to TO TO
riding VBG VBG
out RP RP
the DT DT
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in IN IN
the DT DT
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. . .
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`` `` ``
I PRP PRP
'm VBP VBP
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in IN IN
the DT DT
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, , ,
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said VBD VBD
Boston NNP NNP
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Sullivan NNP NNP
as IN IN
he PRP PRP
watched VBD VBD
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on IN IN
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in IN IN
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of IN IN
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's VBZ VBZ
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everyone NN NN
else RB RB
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on IN IN
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are VBP VBP
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to TO TO
come VB VB
in IN IN
and CC CC
buy VB VB
... : :
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'm VBP VBP
going VBG VBG
to TO TO
hold VB VB
on RP RP
. . .
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I PRP PRP
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now RB RB
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'll MD MD
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evinced VBN VBD
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when WRB WRB
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in IN IN
1987 CD CD
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bet VBP VBP
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up RB RB
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on IN IN
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said VBD VBD
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, , ,
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retired VBN JJ
housewife NN NN
in IN IN
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, , ,
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said VBD VBD
her PRP PRP$
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lost VBD VBD
about IN RB
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of IN IN
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and CC CC
we PRP PRP
gained VBD VBD
that DT DT
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the DT DT
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of IN IN
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Corp. NNP NNP
at IN IN
the DT DT
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in IN IN
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was VBD VBD
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investors NNS NNS
representing VBG VBG
investor NN NN
clubs NNS NNS
from IN IN
around IN IN
the DT DT
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attending VBG VBG
when WRB WRB
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to TO TO
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, , ,
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of IN IN
the DT DT
association NN NN
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no DT DT
special JJ JJ
bulletins NNS NNS
or CC CC
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meetings NNS NNS
of IN IN
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are VBP VBP
planned VBN VBN
. . .
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fact NN NN
, , ,
some DT DT
of IN IN
the DT DT
association NN NN
's POS POS
members NNS NNS
-- : :
long-term JJ JJ
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investors NNS NNS
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welcomed VBD VBD
the DT DT
drop NN NN
in IN IN
prices NNS NNS
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hope VBP VBP
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take VB VB
advantage NN NN
of IN IN
it PRP PRP
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of IN IN
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investors NNS NNS
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He PRP PRP
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mind NN NN
to TO TO
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if IN IN
the DT DT
prices NNS NNS
drop VBP VBP
to TO TO
the DT DT
level NN NN
he PRP PRP
wants VBZ VBZ
. . .
<s>
Not RB RB
everyone NN NN
is VBZ VBZ
reacting VBG VBG
so RB RB
calmly RB RB
, , ,
however RB RB
, , ,
and CC CC
many JJ JJ
wonder NN VBP
about IN IN
the DT DT
long-term JJ JJ
implications NNS NNS
of IN IN
what WP WP
is VBZ VBZ
widely RB RB
viewed VBN VBN
as IN IN
the DT DT
cause NN NN
of IN IN
Friday NNP NNP
's POS POS
slide NN NN
, , ,
reluctance NN NN
by IN IN
banks NNS NNS
to TO TO
provide VB VB
financing NN NN
for IN IN
a DT DT
buy-out NN NN
of IN IN
UAL NNP NNP
Corp. NNP NNP
, , ,
parent NN NN
of IN IN
United NNP NNP
Airlines NNPS NNP
. . .
<s>
Marc NNP NNP
Perkins NNP NNP
, , ,
a DT DT
Tampa NNP NNP
, , ,
Fla. NNP NNP
, , ,
investment NN NN
banker NN NN
, , ,
said VBD VBD
the DT DT
market NN NN
drop NN NN
is VBZ VBZ
one CD CD
of IN IN
`` `` ``
a DT DT
tremendous JJ JJ
number NN NN
of IN IN
signs NNS NNS
that IN IN
the DT DT
leveraged JJ JJ
take-out JJ NN
era NN NN
is VBZ VBZ
ending VBG VBG
. . .
<s>
There EX EX
's VBZ VBZ
no DT DT
question NN NN
that IN IN
there EX EX
's VBZ VBZ
a DT DT
general JJ JJ
distaste NN NN
for IN IN
leverage NN NN
among IN IN
lenders NNS NNS
. . .
<s>
'' '' ''
Mr. NNP NNP
Perkins NNP NNP
believes VBZ VBZ
, , ,
however RB RB
, , ,
that IN IN
the DT DT
market NN NN
could MD MD
be VB VB
stabilized VBN VBN
if IN IN
California NNP NNP
investor NN NN
Marvin NNP NNP
Davis NNP NNP
steps VBZ VBZ
back RB RB
in IN IN
to TO TO
the DT DT
United NNP NNP
bidding NN NN
with IN IN
an DT DT
offer NN NN
of IN IN
$ $ $
275 CD CD
a DT DT
share NN NN
. . .
<s>
Sara NNP NNP
Albert NNP NNP
, , ,
a DT DT
34-year-old JJ JJ
Dallas NNP NNP
law NN NN
student NN NN
, , ,
says VBZ VBZ
she PRP PRP
's VBZ VBZ
generally RB RB
skittish JJ JJ
about IN IN
the DT DT
stock NN NN
market NN NN
and CC CC
the DT DT
takeover NN NN
activity NN NN
that WDT WDT
seems VBZ VBZ
to TO TO
fuel VB VB
it PRP PRP
. . .
<s>
`` `` ``
I PRP PRP
have VBP VBP
this DT DT
feeling NN NN
that IN IN
it PRP PRP
's VBZ VBZ
built VBN VBN
on IN IN
sand NN NN
, , ,
'' '' ''
she PRP PRP
says VBZ VBZ
, , ,
that IN IN
the DT DT
market NN NN
rises VBZ VBZ
`` `` ``
but CC CC
there EX EX
's VBZ VBZ
no DT DT
foundation NN NN
to TO TO
it PRP PRP
. . .
<s>
'' '' ''
She PRP PRP
and CC CC
her PRP$ PRP$
husband NN NN
pulled VBD VBD
most JJS JJS
of IN IN
their PRP$ PRP$
investments NNS NNS
out IN IN
of IN IN
the DT DT
market NN NN
after IN IN
the DT DT
1987 CD CD
crash NN NN
, , ,
although IN IN
she PRP PRP
still RB RB
owns VBZ VBZ
some DT DT
Texaco NNP NNP
stock NN NN
. . .
<s>
Partly RB RB
because IN IN
of IN IN
concern NN NN
about IN IN
the DT DT
economy NN NN
and CC CC
partly RB RB
because IN IN
she PRP PRP
recently RB RB
quit VBD VBD
her PRP$ PRP$
job NN NN
as IN IN
a DT DT
legal JJ JJ
assistant NN NN
to TO TO
go VB VB
to TO TO
school NN NN
, , ,
`` `` ``
I PRP PRP
think VBP VBP
at IN IN
this DT DT
point NN NN
we PRP PRP
want VBP VBP
to TO TO
be VB VB
a DT DT
lot NN NN
more RBR RBR
liquid JJ JJ
. . .
<s>
'' '' ''
Others NNS NNS
wonder VBP VBP
how WRB WRB
many JJ JJ
more JJR JJR
of IN IN
these DT DT
shocks NNS NNS
the DT DT
small JJ JJ
investor NN NN
can MD MD
stand VB VB
. . .
<s>
`` `` ``
We PRP PRP
all DT DT
assumed VBD VBD
October NNP NNP
'87 : CD
was VBD VBD
a DT DT
one-time JJ JJ
shot NN NN
, , ,
'' '' ''
said VBD VBD
San NNP NNP
Francisco NNP NNP
attorney NN NN
David NNP NNP
Greenberg NNP NNP
. . .
<s>
`` `` ``
We PRP PRP
told VBD VBD
the DT DT
little JJ JJ
guy NN NN
it PRP PRP
could MD MD
only RB RB
happen VB VB
once RB RB
in IN IN
a DT DT
lifetime NN NN
, , ,
come VBN VBN
on IN RP
back RB RB
. . .
<s>
Now RB RB
it PRP PRP
's VBZ VBZ
happening VBG VBG
again RB RB
. . .
<s>
'' '' ''
Mr. NNP NNP
Greenberg NNP NNP
got VBD VBD
out RP RP
just RB RB
before IN IN
the DT DT
1987 CD CD
crash NN NN
and CC CC
, , ,
to TO TO
his PRP$ PRP$
regret NN NN
, , ,
never RB RB
went VBD VBD
back RB RB
even RB RB
as IN IN
the DT DT
market NN NN
soared VBD VBD
. . .
<s>
This DT DT
time NN NN
he PRP PRP
's VBZ VBZ
ready JJ JJ
to TO TO
buy VB VB
in IN RP
`` `` ``
when WRB WRB
the DT DT
panic NN NN
wears VBZ VBZ
off RP RP
. . .
<s>
'' '' ''
Still RB RB
, , ,
he PRP PRP
adds VBZ VBZ
: : :
`` `` ``
We PRP PRP
ca MD MD
n't RB RB
have VB VB
this DT DT
kind NN NN
of IN IN
thing NN NN
happen VBP VB
very RB RB
often RB RB
. . .
<s>
When WRB WRB
the DT DT
little JJ JJ
guy NN NN
gets VBZ VBZ
frightened VBN JJ
, , ,
the DT DT
big JJ JJ
guys NNS NNS
hurt VBD VBP
badly RB RB
. . .
<s>
Merrill NNP NNP
Lynch NNP NNP
ca MD MD
n't RB RB
survive VB VB
without IN IN
the DT DT
little JJ JJ
guy NN NN
. . .
<s>
'' '' ''
Small JJ JJ
investors NNS NNS
have VBP VBP
tiptoed VBD VBN
back RB RB
into IN IN
the DT DT
market NN NN
following VBG VBG
Black NNP NNP
Monday NNP NNP
, , ,
but CC CC
mostly RB RB
through IN IN
mutual JJ JJ
funds NNS NNS
. . .
<s>
Discount : JJ
brokerage NN NN
customers NNS NNS
`` `` ``
have VBP VBP
been VBN VBN
in IN IN
the DT DT
market NN NN
somewhat RB RB
but CC CC
not RB RB
whole JJ JJ
hog NNS NN
like IN IN
they PRP PRP
were VBD VBD
two CD CD
years NNS NNS
ago RB RB
, , ,
'' '' ''
says VBZ VBZ
Leslie NNP NNP
Quick NNP NNP
Jr. NNP NNP
, , ,
chairman NN NN
of IN IN
the DT DT
Quick NNP NNP
& CC CC
Reilly NNP NNP
discount NN JJ
brokerage NN NN
firm NN NN
. . .
<s>
Hugo NNP NNP
Quackenbush NNP NNP
, , ,
senior JJ JJ
vice NN NN
president NN NN
at IN IN
Charles NNP NNP
Scwhab NNP NNP
Corp. NNP NNP
, , ,
says VBZ VBZ
Schwab NNP NNP
customers NNS NNS
`` `` ``
have VBP VBP
been VBN VBN
neutral JJ JJ
to TO TO
cautious JJ JJ
recently RB RB
about IN IN
stocks NNS NNS
. . .
<s>
'' '' ''
Individual JJ JJ
investors NNS NNS
are VBP VBP
still RB RB
angry JJ JJ
about IN IN
program NN NN
trading NN NN
, , ,
Mr. NNP NNP
Quackenbush NNP NNP
says VBZ VBZ
. . .
<s>
Avner NNP NNP
Arbel NNP NNP
, , ,
a DT DT
Cornell NNP NNP
University NNP NNP
finance NN NN
professor NN NN
, , ,
says VBZ VBZ
government NN NN
regulators NNS NNS
will MD MD
have VB VB
to TO TO
more RBR RBR
closely RB RB
control VB VB
program NN NN
trading NN NN
to TO TO
`` `` ``
win VB VB
back RB RP
the DT DT
confidence NN NN
of IN IN
the DT DT
small JJ JJ
investor NN NN
. . .
<s>
'' '' ''
But CC CC
it PRP PRP
's VBZ VBZ
not RB RB
only RB RB
the DT DT
stock NN NN
market NN NN
that WDT WDT
has VBZ VBZ
some DT DT
small JJ JJ
investors NNS NNS
worried VBD JJ
. . .
<s>
Alan NNP NNP
Helfman NNP NNP
, , ,
general JJ JJ
sales NNS NNS
manager NN NN
of IN IN
a DT DT
Chrysler NNP NNP
dealership NN NN
in IN IN
Houston NNP NNP
, , ,
said VBD VBD
he PRP PRP
and CC CC
his PRP$ PRP$
mother NN NN
have VBP VBP
some DT DT
joint JJ JJ
stock NN NN
investments NNS NNS
, , ,
but CC CC
the DT DT
overall JJ JJ
economy NN NN
is VBZ VBZ
his PRP$ PRP$
chief JJ JJ
worry NN NN
. . .
<s>
`` `` ``
These DT DT
high JJ JJ
rollers NNS NNS
took VBD VBD
a DT DT
big JJ JJ
bath NN NN
today NN NN
, , ,
'' '' ''
he PRP PRP
said VBD VBD
in IN IN
his PRP$ PRP$
showroom NN NN
, , ,
which WDT WDT
is VBZ VBZ
within IN IN
a DT DT
few JJ JJ
miles NNS NNS
of IN IN
the DT DT
multi-million JJ JJ
dollar NN NN
homes NNS NNS
of IN IN
some DT DT
of IN IN
Houston NNP NNP
's POS POS
richest JJS JJS
citizens NNS NNS
. . .
<s>
`` `` ``
And CC CC
I PRP PRP
can MD MD
tell VB VB
you PRP PRP
that IN IN
a DT DT
high JJ JJ
roller NN NN
is VBZ VBZ
n't RB RB
going VBG VBG
to TO TO
come VB VB
in IN IN
tomorrow NN NN
and CC CC
buy VB VB
a DT DT
Chrysler NNP NNP
TC NNP NNP
by IN IN
Maserati NNP NNP
. . .
<s>
'' '' ''
And CC CC
, , ,
finally RB RB
, , ,
there EX EX
were VBD VBD
the DT DT
gloaters NNS NNS
. . .
<s>
`` `` ``
I PRP PRP
got VBD VBD
out RP RP
in IN IN
1987 CD CD
. . .
<s>
Everything NN NN
, , ,
'' '' ''
said VBD VBD
Pascal NNP NNP
Antori NNP NNP
, , ,
an DT DT
Akron NNP NNP
, , ,
Ohio NNP NNP
, , ,
plumbing NN NN
contractor NN NN
who WP WP
was VBD VBD
visiting VBG VBG
Chicago NNP NNP
and CC CC
stopped VBD VBD
by IN IN
Fidelity NNP NNP
Investments NNP NNP
' POS POS
LaSalle NNP NNP
Street NNP NNP
office NN NN
. . .
<s>
`` `` ``
I PRP PRP
just RB RB
stopped VBD VBD
by RP RP
to TO TO
see VB VB
how WRB WRB
much JJ JJ
I PRP PRP
would MD MD
have VB VB
lost VBN VBN
. . .
<s>
'' '' ''
Would MD MD
Mr. NNP NNP
Antori NNP NNP
ever RB RB
get VB VB
back RB RB
in IN RP
? . .
<s>
`` `` ``
Are VBP VBP
you PRP PRP
kidding : VBG
! . .
<s>
When WRB WRB
it PRP PRP
comes VBZ VBZ
to TO TO
money NN NN
: : :
Once RB RB
bitten VBN VBN
, , ,
2,000 CD CD
times NNS NNS
shy JJ JJ
. . .
<s>
The DT DT
crowded JJ JJ
field NN NN
for IN IN
notebook-sized JJ JJ
computers NNS NNS
is VBZ VBZ
about IN RB
to TO TO
become VB VB
a DT DT
lot NN NN
more RBR RBR
crowded JJ JJ
. . .
<s>
Compaq NNP NNP
Computer NNP NNP
Corp. NNP NNP
's POS POS
long-awaited JJ JJ
entry NN NN
today NN NN
into IN IN
the DT DT
notebook NN NN
field NN NN
is VBZ VBZ
expected VBN VBN
to TO TO
put VB VB
immediate JJ JJ
heat NN NN
on IN IN
others NNS NNS
in IN IN
the DT DT
market NN NN
, , ,
especially RB RB
Zenith NNP NNP
Electronics NNP NNP
Corp. NNP NNP
, , ,
the DT DT
current JJ JJ
market NN NN
leader NN NN
, , ,
and CC CC
on IN IN
a DT DT
swarm NN NN
of IN IN
promising JJ JJ
start-ups NNS NNS
. . .
<s>
Compaq NNP NNP
's POS POS
series NN NN
of IN IN
notebooks NNS NNS
extends VBZ VBZ
a DT DT
trend NN NN
toward IN IN
downsizing VBG NN
in IN IN
the DT DT
personal JJ JJ
computer NN NN
market NN NN
. . .
<s>
One CD CD
manufacturer NN NN
already RB RB
has VBZ VBZ
produced VBN VBN
a DT DT
clipboard-sized JJ JJ
computer NN NN
called VBN VBD
a DT DT
notepad NN NN
, , ,
and CC CC
two CD CD
others NNS NNS
have VBP VBP
introduced VBN VBN
even RB RB
smaller JJR JJR
`` `` ``
palmtops : NNS
. . .
<s>
'' '' ''
But CC CC
those DT DT
machines NNS NNS
are VBP VBP
still RB RB
considered VBN VBN
novelties NNS NNS
, , ,
with IN IN
keyboards NNS NNS
only RB RB
a DT DT
munchkin NN NN
could MD MD
love VB VB
and CC CC
screens NNS VBZ
to TO TO
match VB VB
. . .
<s>
Compaq NNP NNP
's POS POS
notebooks NNS NNS
, , ,
by IN IN
contrast NN NN
, , ,
may MD MD
be VB VB
the DT DT
first JJ JJ
in IN IN
their PRP$ PRP$
weight NN NN
class NN NN
not RB RB
to TO TO
skimp VB VB
on IN IN
features NNS NNS
found VBN VBN
in IN IN
much RB RB
bigger JJR JJR
machines NNS NNS
. . .
<s>
Analysts NNS NNS
say VBP VBP
they PRP PRP
're VBP VBP
faster JJR JJR
and CC CC
carry VB VBP
more JJR JJR
memory NN NN
than IN IN
anything NN NN
else RB RB
of IN IN
their PRP$ PRP$
size NN NN
on IN IN
the DT DT
market NN NN
-- : :
and CC CC
they PRP PRP
're VBP VBP
priced VBN VBN
aggressively RB RB
at IN IN
$ $ $
2,400 CD CD
to TO TO
$ $ $
5,000 CD CD
. . .
<s>
All DT DT
of IN IN
this DT DT
comes VBZ VBZ
in IN IN
a DT DT
machine NN NN
that WDT WDT
weighs VBZ VBZ
only RB RB
six CD CD
pounds NNS NNS
and CC CC
fits VBZ VBZ
comfortably RB RB
into IN IN
most JJS JJS
briefcases NNS NNS
. . .
<s>
In IN IN
recent JJ JJ
months NNS NNS
, , ,
Compaq NNP NNP
's POS POS
competition NN NN
, , ,
including VBG VBG
Zenith NNP NNP
, , ,
Toshiba NNP NNP
Corp. NNP NNP
, , ,
Tandy NNP NNP
Corp. NNP NNP
and CC CC
NEC NNP NNP
Corp. NNP NNP
all DT DT
have VBP VBP
introduced VBN VBN
portables NNS NNS
that WDT WDT
weigh VBP VBP
approximately RB RB
the DT DT
same JJ JJ
and CC CC
that WDT WDT
are VBP VBP
called VBN VBN
notebooks NNS NNS
-- : :
perhaps RB RB
misleadingly RB RB
. . .
<s>
One CD CD
analyst NN NN
, , ,
noting VBG VBG
that IN IN
most JJS JJS
such JJ JJ
machines NNS NNS
are VBP VBP
about IN RB
two CD CD
inches NNS NNS
thick JJ JJ
, , ,
takes VBZ VBZ
exception NN NN
to TO TO
the DT DT
name NN NN
. . .
<s>
`` `` ``
This DT DT
is VBZ VBZ
n't RB RB
quite RB RB
a DT DT
notebook NN NN
-- : :
I PRP PRP
call VBP VBP
it PRP PRP
a DT DT
phonebook NN NN
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
That DT DT
ca MD MD
n't RB RB
be VB VB
said VBN VBD
of IN IN
the DT DT
$ $ $
2,400 CD CD
notepad NN NN
computer NN NN
introduced VBD VBN
a DT DT
few JJ JJ
weeks NNS NNS
ago RB RB
by IN IN
GRiD NNP NNP
Systems NNPS NNP
Corp. NNP NNP
, , ,
a DT DT
unit NN NN
of IN IN
Tandy NNP NNP
. . .
<s>
Instead RB RB
of IN IN
a DT DT
keyboard NN NN
, , ,
it PRP PRP
features VBZ VBZ
a DT DT
writing NN NN
surface NN NN
, , ,
an DT DT
electronic JJ JJ
pen NN NN
and CC CC
the DT DT
ability NN NN
to TO TO
`` `` ``
read VB VB
'' '' ''
block NN JJ
printing NN NN
. . .
<s>
At IN IN
4 CD CD
1\/2 CD CD
pounds NNS NNS
, , ,
it PRP PRP
may MD MD
be VB VB
too RB RB
ambitiously RB RB
named VBN VBN
, , ,
but CC CC
it PRP PRP
nevertheless RB RB
opens VBZ VBZ
up RP RP
the DT DT
kind NN NN
of IN IN
marketing NN NN
possibilities NNS NNS
that WDT WDT
make VBP VBP
analysts NNS NNS
froth : VB
. . .
<s>
Palmtops NNS NNS
are VBP VBP
n't RB RB
far RB RB
behind RB RB
. . .
<s>
Atari NNP NNP
Corp. NNP NNP
's POS POS
Portfolio NN NNP
, , ,
introduced VBN VBN
in IN IN
Europe NNP NNP
two CD CD
months NNS NNS
ago RB RB
and CC CC
in IN IN
the DT DT
U.S. NNP NNP
in IN IN
early JJ JJ
September NNP NNP
, , ,
weighs VBZ VBZ
less JJR RBR
than IN IN
a DT DT
pound NN NN
, , ,
costs VBZ VBZ
a DT DT
mere JJ JJ
$ $ $
400 CD CD
and CC CC
runs VBZ VBZ
on IN IN
three CD CD
AA NNP NN
batteries NNS NNS
, , ,
yet RB CC
has VBZ VBZ
the DT DT
power NN NN
to TO TO
run VB VB
some DT DT
spreadsheets NNS NNS
and CC CC
word NN NN
processing NN NN
programs NNS NNS
. . .
<s>
Some DT DT
critics NNS NNS
, , ,
however RB RB
, , ,
say VBP VB
its PRP$ PRP$
ability NN NN
to TO TO
run VB VB
commonplace JJ JJ
programs NNS NNS
is VBZ VBZ
restricted VBN VBN
by IN IN
a DT DT
limited JJ JJ
memory NN NN
. . .
<s>
Poquet NNP NNP
Computer NNP NNP
Corp. NNP NNP
, , ,
meanwhile RB RB
, , ,
has VBZ VBZ
introduced VBN VBN
a DT DT
much RB RB
more RBR RBR
sophisticated JJ JJ
palmtop NN NN
that WDT WDT
can MD MD
run VB VB
Lotus NNP NNP
1-2-3 CD NNP
and CC CC
other JJ JJ
sophisticated JJ JJ
software NN NN
programs NNS NNS
, , ,
but CC CC
costs VBZ VBZ
five CD CD
times NNS NNS
as RB RB
much JJ JJ
. . .
<s>
At IN IN
stake NN NN
is VBZ VBZ
what WP WP
Mike NNP NNP
Swavely NNP NNP
, , ,
Compaq NNP NNP
's POS POS
president NN NN
of IN IN
North NNP NNP
America NNP NNP
operations NNS NNS
, , ,
calls VBZ VBZ
`` `` ``
the DT DT
Holy NNP NNP
Grail NNP NNP
of IN IN
the DT DT
computer NN NN
industry NN NN
'' '' ''
-- : :
the DT DT
search NN NN
for IN IN
`` `` ``
a DT DT
real JJ JJ
computer NN NN
in IN IN
a DT DT
package NN NN
so RB RB
small JJ JJ
you PRP PRP
can MD MD
take VB VB
it PRP PRP
everywhere RB RB
. . .
<s>
'' '' ''
The DT DT
market NN NN
is VBZ VBZ
so RB RB
new JJ JJ
, , ,
nobody NN NN
knows VBZ VBZ
yet RB RB
how WRB WRB
big JJ JJ
it PRP PRP
can MD MD
be VB VB
. . .
<s>
`` `` ``
I PRP PRP
've VBP VBP
had VBD VBD
a DT DT
lot NN NN
of IN IN
people NNS NNS
trying VBG VBG
to TO TO
sell VB VB
me PRP PRP
services NNS NNS
to TO TO
find VB VB
out RP RP
how WRB WRB
big JJ JJ
it PRP PRP
is VBZ VBZ
, , ,
'' '' ''
says VBZ VBZ
Tom NNP NNP
Humphries NNP NNP
, , ,
director NN NN
of IN IN
marketing NN NN
for IN IN
GRiD NNP NNP
. . .
<s>
`` `` ``
Whether IN IN
it PRP PRP
's VBZ VBZ
$ $ $
5 CD CD
billion CD CD
or CC CC
$ $ $
3.5 CD CD
billion CD CD
, , ,
it PRP PRP
does VBZ VBZ
n't RB RB
matter VB NN
. . .
<s>
It PRP PRP
's VBZ VBZ
huge JJ JJ
. . .
<s>
'' '' ''
Consider VB VB
the DT DT
growth NN NN
of IN IN
portables NNS NNS
, , ,
which WDT WDT
now RB RB
comprise VBP VBP
12 CD CD
% NN NN
of IN IN
all DT DT
personal JJ JJ
computer NN NN
sales NNS NNS
. . .
<s>
Laptops NNS NNS
-- : :
generally RB RB
anything NN NN
under IN IN
15 CD CD
pounds NNS NNS
-- : :
have VBP VBP
become VBN VBN
the DT DT
fastest-growing JJ JJ
personal JJ JJ
computer NN NN
segment NN NN
, , ,
with IN IN
sales NNS NNS
doubling VBG VBG
this DT DT
year NN NN
. . .
<s>
Responding : VBG
to TO TO
that DT DT
demand NN NN
, , ,
however RB RB
, , ,
has VBZ VBZ
led VBN VBN
to TO TO
a DT DT
variety NN NN
of IN IN
compromises NNS NNS
. . .
<s>
Making VBG VBG
computers NNS NNS
smaller JJR JJR
often RB RB
means VBZ VBZ
sacrificing VBG VBG
memory NN NN
. . .
<s>
It PRP PRP
also RB RB
has VBZ VBZ
precluded VBN VBN
use NN NN
of IN IN
the DT DT
faster JJR JJR
, , ,
more RBR RBR
powerful JJ JJ
microprocessors NNS NNS
found VBN VBN
in IN IN
increasing VBG VBG
numbers NNS NNS
of IN IN
desktop NN JJ
machines NNS NNS
. . .
<s>
Size NN NN
and CC CC
weight NN NN
considerations NNS NNS
also RB RB
have VBP VBP
limited VBN VBN
screen NN NN
displays NNS NNS
. . .
<s>
The DT DT
competitive JJ JJ
sniping NN NN
can MD MD
get VB VB
pretty RB RB
petty JJ JJ
at IN IN
times NNS NNS
. . .
<s>
A DT DT
Poquet NNP NNP
spokesman NN NN
, , ,
for IN IN
example NN NN
, , ,
criticizes VBZ VBZ
the DT DT
Atari NNP NNP
Portfolio NNP NNP
because IN IN
it PRP PRP
requires VBZ VBZ
three CD CD
batteries NNS NNS
while IN IN
the DT DT
Poquet NNP NNP
needs VBZ VBZ
only RB RB
two CD CD
. . .
<s>
Both DT DT
palmtops NNS NNS
are VBP VBP
dismissed VBN VBN
by IN IN
notebook NN NN
makers NNS NNS
, , ,
who WP WP
argue VBP VBP
that IN IN
they PRP PRP
're VBP VBP
too RB RB
small JJ JJ
-- : :
a DT DT
problem NN NN
Poquet NNP NNP
also RB RB
encountered VBD VBD
in IN IN
focus NN NN
groups NNS NNS
, , ,
admits VBZ VBZ
Gerry NNP NNP
Purdy NNP NNP
, , ,
director NN NN
of IN IN
marketing NN NN
. . .
<s>
Poquet NNP NNP
, , ,
trying VBG VBG
to TO TO
avoid VB VB
the DT DT
`` `` ``
gadget NN NN
'' '' ''
label NN NN
, , ,
responded VBD VBD
with IN IN
the DT DT
tag NN NN
line NN NN
, , ,
`` `` ``
The DT DT
Poquet NNP NNP
PC NNP NNP
-- : :
a DT DT
Very NNP NNP
Big NNP NNP
Computer NNP NNP
. . .
<s>
'' '' ''
Despite IN IN
the DT DT
sniping VBG NN
, , ,
few JJ JJ
question NN NN
the DT DT
inevitability NN NN
of IN IN
the DT DT
move NN NN
to TO TO
small JJ JJ
machines NNS NNS
that WDT WDT
do VBP VBP
n't RB RB
make VB VB
compromises NNS NNS
. . .
<s>
Toward IN IN
that DT DT
end NN NN
, , ,
experts NNS NNS
say VBP VBP
the DT DT
real JJ JJ
battle NN NN
will MD MD
take VB VB
place NN NN
between IN IN
center-stage JJ JJ
players NNS NNS
like IN IN
Toshiba NNP NNP
, , ,
Zenith NNP NNP
and CC CC
now RB RB
Compaq NNP NNP
. . .
<s>
Compaq NNP NNP
's POS POS
new JJ JJ
machines NNS NNS
are VBP VBP
considered VBN VBN
a DT DT
direct JJ JJ
threat NN NN
to TO TO
start-up JJ JJ
firms NNS NNS
like IN IN
Dynabook NNP NNP
Inc. NNP NNP
, , ,
which WDT WDT
introduced VBD VBD
in IN IN
June NNP NNP
a DT DT
computer NN NN
that IN WDT
, , ,
like IN IN
Compaq NNP NNP
's POS POS
, , ,
uses VBZ VBZ
an DT DT
Intel NNP NNP
286 CD CD
microprocessor NN NN
and CC CC
has VBZ VBZ
a DT DT
hard JJ JJ
disk NN NN
drive NN NN
. . .
<s>
But CC CC
the DT DT
Dynabook NNP NNP
product NN NN
is VBZ VBZ
twice RB RB
as IN IN
heavy JJ JJ
and CC CC
costs VBZ NNS
more JJR JJR
than IN IN
Compaq NNP NNP
's POS POS
. . .
<s>
Compaq NNP NNP
's POS POS
announcement NN NN
also RB RB
spells NNS VBZ
trouble NN NN
for IN IN
Zenith NNP NNP
, , ,
which WDT WDT
last JJ JJ
year NN NN
had VBD VBD
28 CD CD
% NN NN
of IN IN
the DT DT
U.S. NNP NNP
laptop JJ NN
market NN NN
but CC CC
recently RB RB
agreed VBD VBD
to TO TO
sell VB VB
its PRP$ PRP$
computer NN NN
business NN NN
to TO TO
Cie. NNP NNP
des NNP NNP
Machines NNP NNP
Bull NNP NNP
, , ,
the DT DT
French JJ JJ
government-owned JJ JJ
computer NN NN
maker NN NN
. . .
<s>
Zenith NNP NNP
holders NNS NNS
will MD MD
vote VB VB
in IN IN
December NNP NNP
on IN IN
the DT DT
proposed VBN JJ
$ $ $
635 CD CD
million CD CD
sale NN NN
, , ,
a DT DT
price NN NN
that WDT WDT
could MD MD
slip VB VB
because IN IN
it PRP PRP
is VBZ VBZ
pegged VBN VBN
to TO TO
Zenith NNP NNP
's POS POS
share NN NN
and CC CC
sales NNS NNS
. . .
<s>
Compaq NNP NNP
is VBZ VBZ
already RB RB
taking VBG VBG
aim NN NN
at IN IN
Zenith NNP NNP
's POS POS
market NN NN
share NN NN
. . .
<s>
Rod NNP NNP
Canion NNP NNP
, , ,
Compaq NNP NNP
's POS POS
president NN NN
and CC CC
chief JJ JJ
executive NN JJ
officer NN NN
, , ,
notes VBZ VBZ
pointedly RB RB
that IN IN
Zenith NNP NNP
's POS POS
$ $ $
2,000 CD CD
MinisPort NNP NNP
uses VBZ VBZ
an DT DT
`` `` ``
unconventional JJ JJ
'' '' ''
two-inch JJ JJ
floppy JJ JJ
disk NN NN
, , ,
whereas IN IN
Compaq NNP NNP
's POS POS
new JJ JJ
machines NNS NNS
use VBP VBP
the DT DT
more RBR RBR
common JJ JJ
3 CD CD
1\/2-inch JJ JJ
disk NN NN
. . .
<s>
John NNP NNP
P. NNP NNP
Frank NNP NNP
, , ,
president NN NN
of IN IN
Zenith NNP NNP
Data NNP NNP
Systems NNPS NNP
, , ,
simply RB RB
shrugs VBZ NNS
off RP RP
such JJ JJ
criticism NN NN
, , ,
noting VBG VBG
that IN IN
3 CD CD
1\/2-inch JJ JJ
floppies NNS NNS
were VBD VBD
also RB RB
`` `` ``
unconventional JJ JJ
'' '' ''
when WRB WRB
they PRP PRP
first RB RB
replaced VBD VBD
five-inch JJ JJ
disks NNS NNS
. . .
<s>
`` `` ``
We PRP PRP
do VBP VBP
n't RB RB
look VB VB
at IN IN
it PRP PRP
as IN IN
not RB RB
being VBG VBG
a DT DT
standard NN NN
, , ,
we PRP PRP
look VBP VBP
at IN IN
it PRP PRP
as IN IN
a DT DT
new JJ JJ
standard NN NN
, , ,
'' '' ''
he PRP PRP
argues VBZ VBZ
. . .
<s>
Analysts NNS NNS
do VBP VBP
n't RB RB
see VB VB
it PRP PRP
that DT DT
way NN NN
. . .
<s>
`` `` ``
I PRP PRP
ca MD MD
n't RB RB
imagine VB VB
that IN IN
you PRP PRP
'll MD MD
talk VB VB
to TO TO
anyone NN NN
who WP WP
wo MD MD
n't RB RB
tell VB VB
you PRP PRP
this DT DT
is VBZ VBZ
dynamite NN NN
for IN IN
Compaq NNP NNP
and CC CC
a DT DT
stopper NN NN
for IN IN
everyone NN NN
else RB RB
, , ,
'' '' ''
says VBZ VBZ
Gene NNP NNP
Talsky NNP NNP
, , ,
president NN NN
of IN IN
Professional NNP NNP
Marketing NNP NNP
Management NNP NNP
Inc NNP NNP
. . .
<s>
Adds VBZ NNP
Bill NNP NNP
Lempesis NNP NNP
, , ,
senior JJ JJ
industry NN NN
analyst NN NN
for IN IN
DataQuest NNP NNP
, , ,
a DT DT
high-technology JJ NN
market NN NN
research NN NN
firm NN NN
: : :
`` `` ``
We PRP PRP
basically RB RB
think VBP VBP
that IN IN
these DT DT
are VBP VBP
very RB RB
hot JJ JJ
products NNS NNS
. . .
<s>
The DT DT
problem NN NN
Compaq NNP NNP
is VBZ VBZ
going VBG VBG
to TO TO
have VB VB
is VBZ VBZ
that IN IN
they PRP PRP
wo MD MD
n't RB RB
be VB VB
able JJ JJ
to TO TO
make VB VB
enough RB JJ
of IN IN
them PRP PRP
. . .
<s>
'' '' ''
Compaq NNP NNP
's POS POS
machines NNS NNS
include VBP VBP
the DT DT
3 CD CD
1\/2-inch JJ JJ
floppy JJ JJ
disk NN NN
drive NN NN
, , ,
a DT DT
backlit JJ JJ
screen NN NN
that WDT WDT
is VBZ VBZ
only RB RB
1\/4-inch JJ JJ
thick JJ JJ
and CC CC
an DT DT
internal JJ JJ
expansion NN NN
slot NN NN
for IN IN
a DT DT
modem NN NN
-- : :
in IN IN
other JJ JJ
words NNS NNS
, , ,
almost RB RB
all PDT PDT
the DT DT
capabilities NNS NNS
of IN IN
a DT DT
typical JJ JJ
office NN NN
machine NN NN
. . .
<s>
Others NNS NNS
undoubtedly RB RB
will MD MD
follow VB VB
, , ,
but CC CC
most JJS JJS
analysts NNS NNS
believe VBP VBP
Compaq NNP NNP
has VBZ VBZ
at IN IN
least JJS JJS
a DT DT
six-month JJ JJ
lead NN NN
on IN IN
the DT DT
competition NN NN
. . .
<s>
Toshiba NNP NNP
's POS POS
line NN NN
of IN IN
portables NNS NNS
, , ,
for IN IN
example NN NN
, , ,
features VBZ VBZ
the DT DT
T-1000 : NNP
, , ,
which WDT WDT
is VBZ VBZ
in IN IN
the DT DT
same JJ JJ
weight NN NN
class NN NN
but CC CC
is VBZ VBZ
much RB RB
slower JJR JJR
and CC CC
has VBZ VBZ
less JJR JJR
memory NN NN
, , ,
and CC CC
the DT DT
T-1600 : NNP
, , ,
which WDT WDT
also RB RB
uses VBZ VBZ
a DT DT
286 CD CD
microprocessor NN NN
, , ,
but CC CC
which WDT WDT
weighs VBZ VBZ
almost RB RB
twice RB RB
as RB IN
much JJ JJ
and CC CC
is VBZ VBZ
three CD CD
times NNS NNS
the DT DT
size NN NN
. . .
<s>
A DT DT
third JJ JJ
model NN NN
, , ,
marketed VBN VBN
in IN IN
Japan NNP NNP
, , ,
may MD MD
hit VB VB
the DT DT
U.S. NNP NNP
by IN IN
the DT DT
end NN NN
of IN IN
the DT DT
first JJ JJ
quarter NN NN
of IN IN
1990 CD CD
, , ,
but CC CC
by IN IN
then RB RB
, , ,
analysts NNS NNS
say VBP VBP
, , ,
Compaq NNP NNP
will MD MD
have VB VB
established VBN VBN
itself PRP PRP
as IN IN
one CD CD
of IN IN
three CD CD
major JJ JJ
players NNS NNS
. . .
<s>
What WP WP
about IN IN
Big JJ NNP
Blue JJ NNP
? . .
<s>
International NNP NNP
Business NNP NNP
Machines NNPS NNP
Corp. NNP NNP
, , ,
analysts NNS NNS
say VBP VBP
, , ,
has VBZ VBZ
been VBN VBN
burned VBN VBN
twice RB RB
in IN IN
trying VBG VBG
to TO TO
enter VB VB
the DT DT
laptop NN NN
market NN NN
and CC CC
shows VBZ VBZ
no DT DT
signs NNS NNS
of IN IN
trying VBG VBG
to TO TO
get VB VB
into IN IN
notebooks NNS NNS
anytime RB RB
soon RB RB
. . .
<s>
Honeywell NNP NNP
Inc. NNP NNP
and CC CC
International NNP NNP
Business NNP NNP
Machines NNPS NNP
Corp. NNP NNP
received VBD VBD
Air NNP NNP
Force NNP NNP
contracts NNS NNS
to TO TO
develop VB VB
integrated VBN JJ
circuits NNS NNS
for IN IN
use NN NN
in IN IN
space NN NN
. . .
<s>
Honeywell NNP NNP
's POS POS
contract NN NN
totaled VBD VBD
$ $ $
69.7 CD CD
million CD CD
, , ,
and CC CC
IBM NNP NNP
's POS POS
$ $ $
68.8 CD CD
million CD CD
. . .
<s>
Boeing NNP NNP
Co. NNP NNP
received VBD VBD
a DT DT
$ $ $
46.7 CD CD
million CD CD
Air NNP NNP
Force NNP NNP
contract NN NN
for IN IN
developing VBG VBG
cable NN NN
systems NNS NNS
for IN IN
the DT DT
Minuteman NNP NNP
Missile NNP NNP
. . .
<s>
General NNP NNP
Dynamics NNP NNP
Corp. NNP NNP
received VBD VBD
a DT DT
$ $ $
29 CD CD
million CD CD
Air NNP NNP
Force NNP NNP
contract NN NN
for IN IN
electronic-warfare JJ NN
training NN NN
sets NNS NNS
. . .
<s>
Grumman NNP NNP
Corp. NNP NNP
received VBD VBD
an DT DT
$ $ $
18.1 CD CD
million CD CD
Navy NNP NNP
contract NN NN
to TO TO
upgrade VB VB
aircraft NN NN
electronics NNS NNS
. . .
<s>
Avco NNP NNP
Corp. NNP NNP
received VBD VBD
an DT DT
$ $ $
11.8 CD CD
million CD CD
Army NNP NNP
contract NN NN
for IN IN
helicopter NN NN
engines NNS NNS
. . .
<s>
Sharp JJ JJ
increases NNS NNS
in IN IN
the DT DT
price NN NN
of IN IN
fresh JJ JJ
produce NN NN
caused VBD VBD
Spain NNP NNP
's POS POS
September NNP NNP
consumer NN NN
price NN NN
index NN NN
to TO TO
shoot VB VB
up RB RB
1.1 CD CD
% NN NN
from IN IN
the DT DT
previous JJ JJ
month NN NN
, , ,
pushing VBG VBG
the DT DT
annual JJ JJ
rate NN NN
of IN IN
inflation NN NN
to TO TO
6.8 CD CD
% NN NN
, , ,
the DT DT
National NNP NNP
Institute NNP NNP
of IN IN
Statistics NNPS NNP
said VBD VBD
Friday NNP NNP
. . .
<s>
The DT DT
monthly JJ JJ
increase NN NN
is VBZ VBZ
the DT DT
highest JJS RB
recorded VBN VBN
in IN IN
the DT DT
past JJ JJ
four CD CD
years NNS NNS
. . .
<s>
The DT DT
index NN NN
, , ,
which WDT WDT
registered VBD VBD
156.8 CD CD
at IN IN
the DT DT
end NN NN
of IN IN
September NNP NNP
, , ,
has VBZ VBZ
a DT DT
base NN NN
of IN IN
100 CD CD
set VBN NN
in IN IN
1983 CD CD
and CC CC
is VBZ VBZ
n't RB RB
seasonally RB RB
adjusted VBN VBN
. . .
<s>
Prices NNS NNS
have VBP VBP
risen VBN VBN
5.9 CD CD
% NN NN
in IN IN
the DT DT
first JJ JJ
nine CD CD
months NNS NNS
of IN IN
the DT DT
year NN NN
, , ,
outstripping VBG VBG
both DT CC
the DT DT
initial JJ JJ
3 CD CD
% NN NN
inflation NN NN
goal NN NN
set VBN VBN
by IN IN
the DT DT
government NN NN
of IN IN
Socialist NNP NNP
Prime NNP NNP
Minister NNP NNP
Felipe NNP NNP
Gonzalez NNP NNP
and CC CC
the DT DT
second JJ JJ
, , ,
revised JJ VBN
goal NN NN
of IN IN
5.8 CD CD
% NN NN
. . .
<s>
Japan NNP NNP
's POS POS
wholesale JJ JJ
prices NNS NNS
in IN IN
September NNP NNP
rose VBD VBD
3.3 CD CD
% NN NN
from IN IN
a DT DT
year NN NN
earlier RBR RBR
and CC CC
were VBD VBD
up RB RB
0.4 CD CD
% NN NN
from IN IN
the DT DT
previous JJ JJ
month NN NN
, , ,
the DT DT
Bank NNP NNP
of IN IN
Japan NNP NNP
announced VBD VBD
Friday NNP NNP
. . .
<s>
The DT DT
wholesale JJ JJ
price NN NN
index NN NN
stood VBD VBD
at IN IN
90.1 CD CD
, , ,
compared VBN VBN
with IN IN
a DT DT
1985 CD CD
base NN NN
of IN IN
100 CD CD
. . .
<s>
Plunge : NN
? . .
<s>
What WP WDT
plunge NN NN
? . .
<s>
Twenty-four NNP CD
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
issues NNS NNS
hit VBD VBD
52-week JJ JJ
highs NNS NNS
during IN IN
Friday NNP NNP
's POS POS
trading NN NN
, , ,
despite IN IN
the DT DT
Dow NNP NNP
Jones NNP NNP
Industrial NNP NNP
Average NNP NNP
's POS POS
190.58-point JJ JJ
plunge NN NN
. . .
<s>
Stocks NNS NNS
of IN IN
utilities NNS NNS
held VBN VBD
up RP RP
relatively RB RB
better RBR RBR
than IN IN
other JJ JJ
market NN NN
sectors NNS NNS
during IN IN
the DT DT
sell-off NN NN
. . .
<s>
And CC CC
among IN IN
the DT DT
issues NNS NNS
hitting VBG VBG
new JJ JJ
highs NNS NNS
were VBD VBD
Detroit NNP NNP
Edison NNP NNP
Co. NNP NNP
and CC CC
Niagara NNP NNP
Mohawk NNP NNP
Power NNP NNP
Corp NNP NNP
. . .
<s>
Other JJ JJ
major JJ JJ
issues NNS NNS
hitting VBG VBG
highs NNS NNS
included VBD VBD
American NNP NNP
Telephone NNP NNP
& CC CC
Telegraph NNP NNP
Co. NNP NNP
, , ,
Westinghouse NNP NNP
Electric NNP NNP
Corp. NNP NNP
, , ,
Exxon NNP NNP
Corp. NNP NNP
and CC CC
Cigna NNP NNP
Corp. NNP NNP
, , ,
the DT DT
big JJ JJ
insurer NN NN
. . .
<s>
Of IN IN
course NN NN
, , ,
many JJ JJ
more JJR JJR
issues NNS NNS
-- : :
93 CD CD
-- : :
hit VBD VBP
new JJ JJ
lows NNS NNS
. . .
<s>
These DT DT
included VBD VBD
International NNP NNP
Business NNP NNP
Machines NNPS NNP
Corp. NNP NNP
, , ,
which WDT WDT
during IN IN
Friday NNP NNP
's POS POS
session NN NN
traded VBD VBD
below IN IN
$ $ $
100 CD CD
a DT DT
share NN NN
for IN IN
the DT DT
first JJ JJ
time NN NN
since IN IN
June NNP NNP
1984 CD CD
. . .
<s>
IBM NNP NNP
closed VBD VBD
at IN IN
$ $ $
102 CD CD
, , ,
down RB RB
$ $ $
5.625 CD CD
. . .
<s>
Other JJ JJ
new JJ JJ
lows NNS NNS
included VBD VBD
Navistar NNP NNP
International NNP NNP
Corp. NNP NNP
, , ,
Union NNP NNP
Carbide NNP NNP
Corp. NNP NNP
and CC CC
Bethlehem NNP NNP
Steel NNP NNP
Corp. NNP NNP
, , ,
all DT DT
of IN IN
which WDT WDT
are VBP VBP
included VBN VBN
in IN IN
the DT DT
industrial JJ JJ
average NN NN
. . .
<s>
Meanwhile RB RB
, , ,
two CD CD
initial JJ JJ
public JJ JJ
offerings NNS NNS
braved VBD VBD
the DT DT
cascading VBG JJ
market NN NN
in IN IN
their PRP$ PRP$
maiden JJ JJ
day NN NN
of IN IN
national JJ JJ
over-the-counter JJ JJ
trading NN NN
Friday NNP NNP
. . .
<s>
Shares NNS NNS
of IN IN
Rally NNP NNP
's POS POS
Inc. NNP NNP
, , ,
an DT DT
operator NN NN
of IN IN
fast-food NN NN
restaurants NNS NNS
, , ,
closed VBD VBD
at IN IN
$ $ $
17 CD CD
each DT DT
, , ,
up RB RB
from IN IN
its PRP$ PRP$
$ $ $
15 CD CD
offering NN NN
price NN NN
and CC CC
shares NNS NNS
of IN IN
Employee NNP NNP
Benefit NNP NNP
Plans NNP NNP
Inc. NNP NNP
, , ,
a DT DT
health-care NN NN
consultant NN NN
, , ,
closed VBD VBD
at IN IN
$ $ $
14.125 CD CD
, , ,
up RB RB
from IN IN
its PRP$ PRP$
$ $ $
12 CD CD
offering NN NN
price NN NN
. . .
<s>
Ford NNP NNP
Motor NNP NNP
Co. NNP NNP
said VBD VBD
it PRP PRP
acquired VBD VBD
5 CD CD
% NN NN
of IN IN
the DT DT
shares NNS NNS
in IN IN
Jaguar NNP NNP
PLC NNP NNP
. . .
<s>
Jaguar NNP NNP
, , ,
the DT DT
London NNP NNP
Stock NNP NNP
Exchange NNP NNP
and CC CC
the DT DT
U.S. NNP NNP
Securities NNPS NNP
and CC CC
Exchange NNP NNP
Commission NNP NNP
are VBP VBP
being VBG VBG
notified VBN VBN
of IN IN
the DT DT
transactions NNS NNS
, , ,
the DT DT
company NN NN
said VBD VBD
. . .
<s>
The DT DT
U.S. NNP NNP
Federal NNP NNP
Trade NNP NNP
Commission NNP NNP
advised VBD VBD
Ford NNP NNP
last JJ JJ
week NN NN
that IN IN
it PRP PRP
would MD MD
n't RB RB
raise VB VB
any DT DT
objection NN NN
to TO TO
the DT DT
acquisition NN NN
of IN IN
as RB RB
much JJ JJ
as IN IN
15 CD CD
% NN NN
of IN IN
Jaguar NNP NNP
shares NNS NNS
. . .
<s>
The DT DT
No. NN NN
2 CD CD
auto NN NN
maker NN NN
disclosed VBD VBD
last JJ JJ
month NN NN
that IN IN
it PRP PRP
wants VBZ VBZ
to TO TO
buy VB VB
as RB RB
much JJ JJ
as IN IN
15 CD CD
% NN NN
of IN IN
the DT DT
British JJ JJ
luxury-car NN NN
maker NN NN
, , ,
the DT DT
maximum NN NN
allowed VBN VBN
under IN IN
current JJ JJ
United NNP NNP
Kingdom NNP NNP
government NN NN
restrictions NNS NNS
. . .
<s>
General NNP NNP
Motors NNPS NNP
Corp. NNP NNP
said VBD VBD
it PRP PRP
had VBD VBD
discussed VBN VBN
the DT DT
possibility NN NN
of IN IN
a DT DT
joint JJ JJ
venture NN NN
with IN IN
Jaguar NNP NNP
before IN IN
Ford NNP NNP
began VBD VBD
buying VBG VBG
shares NNS NNS
. . .
<s>
GM NNP NNP
said VBD VBD
it PRP PRP
still RB RB
is VBZ VBZ
talking VBG VBG
with IN IN
Jaguar NNP NNP
about IN IN
acquiring VBG VBG
a DT DT
minority NN NN
interest NN NN
. . .
<s>
Investors NNS NNS
who WP WP
bought VBD VBD
stock NN NN
with IN IN
borrowed VBN JJ
money NN NN
-- : :
that DT DT
is VBZ VBZ
, , ,
`` `` ``
on IN IN
margin NN NN
'' '' ''
-- : :
may MD MD
be VB VB
more RBR RBR
worried JJ JJ
than IN IN
most JJS JJS
following VBG VBG
Friday NNP NNP
's POS POS
market NN NN
drop NN NN
. . .
<s>
That DT DT
's VBZ VBZ
because IN IN
their PRP$ PRP$
brokers NNS NNS
can MD MD
require VB VB
them PRP PRP
to TO TO
sell VB VB
some DT DT
shares NNS NNS
or CC CC
put VB VB
up RP RP
more JJR JJR
cash NN NN
to TO TO
enhance VB VB
the DT DT
collateral NN NN
backing VBG VBG
their PRP$ PRP$
loans NNS NNS
. . .
<s>
In IN IN
October NNP NNP
1987 CD CD
, , ,
these DT DT
margin NN NN
calls NNS NNS
were VBD VBD
thought VBN VBN
to TO TO
have VB VB
contributed VBN VBN
to TO TO
the DT DT
downward JJ JJ
spiral NN NN
of IN IN
the DT DT
stock NN NN
market NN NN
. . .
<s>
Typically RB RB
, , ,
a DT DT
margin NN NN
call NN NN
occurs VBZ VBZ
when WRB WRB
the DT DT
price NN NN
of IN IN
a DT DT
stock NN NN
falls VBZ VBZ
below IN IN
75 CD CD
% NN NN
of IN IN
its PRP$ PRP$
original JJ JJ
value NN NN
. . .
<s>
If IN IN
the DT DT
investor NN NN
does VBZ VBZ
n't RB RB
put VB VB
up RP RP
the DT DT
extra JJ JJ
cash NN NN
to TO TO
satisfy VB VB
the DT DT
call NN NN
, , ,
the DT DT
brokerage NN NN
firm NN NN
may MD MD
begin VB VB
liquidating VBG VBG
the DT DT
securities NNS NNS
. . .
<s>
But CC CC
some DT DT
big JJ JJ
brokerage NN NN
firms NNS NNS
said VBD VBD
they PRP PRP
do VBP VBP
n't RB RB
expect VB VB
major JJ JJ
problems NNS NNS
as IN IN
a DT DT
result NN NN
of IN IN
margin NN NN
calls NNS NNS
. . .
<s>
Margin NN NN
calls NNS NNS
since IN IN
Friday NNP NNP
`` `` ``
have VBP VBP
been VBN VBN
higher JJR JJR
than IN IN
usual JJ JJ
, , ,
but CC CC
reasonable JJ JJ
, , ,
'' '' ''
a DT DT
spokesman NN NN
for IN IN
Shearson NNP NNP
Lehman NNP NNP
Hutton NNP NNP
Inc. NNP NNP
said VBD VBD
. . .
<s>
Merrill NNP NNP
Lynch NNP NNP
& CC CC
Co. NNP NNP
officials NNS NNS
`` `` ``
do VBP VBP
n't RB RB
expect VB VB
( ( (
margin NN NN
calls NNS NNS
) ) )
to TO TO
be VB VB
as RB RB
big JJ JJ
a DT DT
factor NN NN
as IN IN
in IN IN
1987 CD CD
'' '' ''
because IN IN
fewer JJR JJR
individual JJ JJ
investors NNS NNS
are VBP VBP
buying VBG VBG
stock NN NN
on IN IN
margin NN NN
, , ,
a DT DT
spokesman NN NN
said VBD VBD
. . .
<s>
Hugo NNP NNP
Quackenbush NNP NNP
, , ,
senior JJ JJ
vice NN NN
president NN NN
at IN IN
Charles NNP NNP
Schwab NNP NNP
Corp. NNP NNP
, , ,
the DT DT
San NNP NNP
Francisco-based JJ JJ
discount NN JJ
brokerage NN NN
firm NN NN
, , ,
said VBD VBD
he PRP PRP
did VBD VBD
n't RB RB
expect VB VB
any DT DT
immediate JJ JJ
problems NNS NNS
with IN IN
margin NN NN
calls NNS NNS
for IN IN
Schwab NNP NNP
customers NNS NNS
. . .
<s>
He PRP PRP
said VBD VBD
Schwab NNP NNP
had VBD VBD
increased VBN VBN
margin NN NN
requirements NNS NNS
`` `` ``
so IN IN
customers NNS NNS
have VBP VBP
more JJR JJR
of IN IN
a DT DT
cushion NN NN
. . .
<s>
'' '' ''
He PRP PRP
added VBD VBD
: : :
`` `` ``
We PRP PRP
learned VBD VBD
a DT DT
lesson NN NN
in IN IN
1987 CD CD
about IN IN
volatility NN NN
. . .
<s>
Avis NNP NNP
Inc. NNP NNP
, , ,
following VBG VBG
rival JJ NN
Hertz NNP NNP
Corp. NNP NNP
's POS POS
lead NN NN
, , ,
said VBD VBD
it PRP PRP
is VBZ VBZ
backing VBG VBG
out IN IN
of IN IN
frequent-flier JJ JJ
programs NNS NNS
with IN IN
three CD CD
airlines NNS NNS
. . .
<s>
The DT DT
Garden NNP NNP
City NNP NNP
, , ,
N.Y. NNP NNP
, , ,
car-rental JJ JJ
company NN NN
said VBD VBD
it PRP PRP
wo MD MD
n't RB RB
renew VB VB
contracts NNS NNS
with IN IN
NWA NNP NNP
Inc. NNP NNP
's POS POS
Northwest NNP NNP
Airlines NNPS NNP
unit NN NN
, , ,
Pan NNP NNP
Am NNP NNP
Corp. NNP NNP
's POS POS
Pan NNP NNP
American NNP NNP
World NNP NNP
Airways NNPS NNP
unit NN NN
and CC CC
Midway NNP NNP
Airlines NNP NNP
at IN IN
the DT DT
end NN NN
of IN IN
this DT DT
year NN NN
. . .
<s>
But CC CC
it PRP PRP
remains VBZ VBZ
involved VBN JJ
in IN IN
programs NNS NNS
with IN IN
AMR NNP NNP
Corp. NNP NNP
's POS POS
American NNP NNP
Airlines NNPS NNP
unit NN NN
and CC CC
Delta NNP NNP
Air NNP NNP
Lines NNPS NNP
. . .
<s>
Industry NN NN
estimates NNS NNS
put VBD VBD
Avis NNP NNP
's POS POS
annual JJ JJ
cost NN NN
of IN IN
all DT DT
five CD CD
programs NNS NNS
at IN IN
between IN IN
$ $ $
8 CD CD
million CD CD
and CC CC
$ $ $
14 CD CD
million CD CD
. . .
<s>
A DT DT
spokesman NN NN
for IN IN
Avis NNP NNP
would MD MD
n't RB RB
specify VB VB
the DT DT
costs NNS NNS
but CC CC
said VBD VBD
the DT DT
three CD CD
airlines NNS NNS
being VBG VBG
dropped VBN VBN
account NN NN
for IN IN
`` `` ``
far RB RB
less JJR JJR
than IN IN
half NN DT
'' '' ''
of IN IN
the DT DT
total NN NN
. . .
<s>
Budget NNP NNP
Rent NNP NNP
a DT DT
Car NNP NNP
Corp. NNP NNP
, , ,
of IN IN
Chicago NNP NNP
, , ,
and CC CC
National NNP NNP
Car NNP NNP
Rental JJ NNP
Systems NNPS NNP
Inc. NNP NNP
, , ,
of IN IN
Minneapolis NNP NNP
, , ,
both DT DT
said VBD VBD
they PRP PRP
had VBD VBD
no DT DT
plans NNS NNS
to TO TO
follow VB VB
suit NN NN
. . .
<s>
In IN IN
fact NN NN
, , ,
Budget NNP NNP
indicated VBD VBD
it PRP PRP
saw VBD VBD
some DT DT
benefit NN NN
to TO TO
staying VBG VBG
involved VBN JJ
in IN IN
these DT DT
programs NNS NNS
, , ,
in IN IN
which WDT WDT
renters NNS NNS
earn VBP VBP
frequent-flier JJ JJ
miles NNS NNS
and CC CC
fliers NNS NNS
can MD MD
get VB VB
car-rental JJ JJ
discounts NNS NNS
. . .
<s>
`` `` ``
I PRP PRP
can MD MD
not RB RB
see VB VB
how WRB WRB
this DT DT
news NN NN
by IN IN
Hertz NNP NNP
and CC CC
Avis NNP NNP
can MD MD
not RB RB
benefit VB VB
Budget NNP NNP
's POS POS
programs NNS NNS
, , ,
'' '' ''
said VBD VBD
Bob NNP NNP
Wilson NNP NNP
, , ,
Budget NNP NNP
's POS POS
vice NN NN
president NN NN
, , ,
marketing NN NN
planning NN NN
. . .
<s>
Northwest NN NNP
and CC CC
Midway NNP NNP
are VBP VBP
two CD CD
of IN IN
the DT DT
five CD CD
airlines NNS NNS
with IN IN
which WDT WDT
Budget NNP NNP
has VBZ VBZ
agreements NNS NNS
. . .
<s>
National NNP NNP
also RB RB
participates VBZ VBZ
in IN IN
the DT DT
Northwest NNP NNP
frequent-flier JJ JJ
program NN NN
along IN IN
with IN IN
four CD CD
other JJ JJ
airlines NNS NNS
, , ,
including VBG VBG
Delta NNP NNP
and CC CC
USAir NNP NNP
Group NNP NNP
Inc. NNP NNP
's POS POS
USAir NNP NNP
unit NN NN
. . .
<s>
A DT DT
month NN NN
ago RB RB
, , ,
Hertz NNP NNP
, , ,
of IN IN
Park NNP NNP
Ridge NNP NNP
, , ,
N.J. NNP NNP
, , ,
said VBD VBD
that IN IN
it PRP PRP
would MD MD
drop VB VB
its PRP$ PRP$
marketing NN NN
agreements NNS NNS
at IN IN
year NN NN
end NN NN
with IN IN
Delta NNP NNP
, , ,
America NNP NNP
West NNP NNP
and CC CC
Texas NNP NNP
Air NNP NNP
Corp. NNP NNP
's POS POS
Continental NNP NNP
Airlines NNPS NNP
and CC CC
Eastern NNP NNP
Airlines NNPS NNP
, , ,
and CC CC
that IN IN
pacts NNS NNS
with IN IN
American NNP NNP
Airlines NNPS NNP
, , ,
UAL NNP NNP
Inc NNP NNP
's POS POS
United NNP NNP
Airlines NNPS NNP
and CC CC
USAir NNP NNP
also RB RB
would MD MD
be VB VB
ended VBN VBN
... : :
sometime RB RB
after IN IN
Dec. NNP NNP
31 CD CD
. . .
<s>
At IN IN
the DT DT
time NN NN
, , ,
Hertz NNP NNP
said VBD VBD
its PRP$ PRP$
annual JJ JJ
fees NNS NNS
to TO TO
those DT DT
airlines NNS NNS
amounted VBD VBD
to TO TO
$ $ $
20 CD CD
million CD CD
and CC CC
that IN IN
the DT DT
value NN NN
of IN IN
redeemed VBN VBN
awards NNS NNS
topped VBD VBD
$ $ $
15 CD CD
million CD CD
. . .
<s>
Analysts NNS NNS
and CC CC
competitors NNS NNS
, , ,
however RB RB
, , ,
doubt VBP VBP
the DT DT
numbers NNS NNS
were VBD VBD
that DT RB
high JJ JJ
. . .
<s>
Budget NNP NNP
said VBD VBD
its PRP$ PRP$
frequent-flier JJ JJ
costs NNS NNS
are VBP VBP
`` `` ``
substantially RB RB
below IN IN
'' '' ''
Avis NNP NNP
's POS POS
level NN NN
. . .
<s>
Robert NNP NNP
D. NNP NNP
Cardillo NNP NNP
, , ,
Avis NNP NNP
vice NN NN
president NN NN
of IN IN
marketing NN NN
, , ,
said VBD VBD
, , ,
`` `` ``
The DT DT
proliferation NN NN
and CC CC
costs NNS NNS
attached VBN VBN
to TO TO
( ( (
frequent-flier JJ JJ
programs NNS NNS
) ) )
have VBP VBP
significantly RB RB
diminished VBN VBN
their PRP$ PRP$
value NN NN
. . .
<s>
'' '' ''
This DT DT
year NN NN
has VBZ VBZ
been VBN VBN
difficult JJ JJ
for IN IN
both DT DT
Hertz NNP NNP
and CC CC
Avis NNP NNP
, , ,
said VBD VBD
Charles NNP NNP
Finnie NNP NNP
, , ,
car-rental JJ JJ
industry NN NN
analyst NN NN
at IN IN
Alex NNP NNP
. . .
<s>
Brown NNP NNP
& CC CC
Sons NNPS NNP
. . .
<s>
`` `` ``
They PRP PRP
've VBP VBP
been VBN VBN
looking VBG VBG
to TO TO
get VB VB
their PRP$ PRP$
costs NNS NNS
down RB RB
, , ,
and CC CC
this DT DT
is VBZ VBZ
a DT DT
fairly RB RB
sensible JJ JJ
way NN NN
to TO TO
do VB VB
it PRP PRP
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
CBS NNP NNP
Inc. NNP NNP
is VBZ VBZ
cutting VBG VBG
`` `` ``
The DT NNP
Pat NNP NNP
Sajak NNP NNP
Show NNP NNP
'' '' ''
down RP RB
to TO TO
one CD CD
hour NN NN
from IN IN
its PRP$ PRP$
current JJ JJ
90 CD CD
minutes NNS NNS
. . .
<s>
CBS NNP NNP
insisted VBD VBD
the DT DT
move NN NN
was VBD VBD
n't RB RB
a DT DT
setback NN NN
for IN IN
the DT DT
program NN NN
, , ,
which WDT WDT
is VBZ VBZ
the DT DT
network NN NN
's POS POS
first JJ JJ
entry NN NN
into IN IN
the DT DT
late-night JJ JJ
talk NN NN
show NN NN
format NN NN
since IN IN
1972 CD CD
. . .
<s>
`` `` ``
I PRP PRP
have VBP VBP
every DT DT
intention NN NN
of IN IN
making VBG VBG
this DT DT
the DT DT
best JJS JJS
possible JJ JJ
show NN NN
and CC CC
having VBG VBG
it PRP PRP
run VB VB
one CD CD
hour NN NN
is VBZ VBZ
the DT DT
best JJS JJS
way NN NN
to TO TO
it PRP PRP
, , ,
'' '' ''
said VBD VBD
Rod NNP NNP
Perth NNP NNP
, , ,
who WP WP
was VBD VBD
named VBN VBN
vice NN NN
president NN NN
of IN IN
late JJ JJ
night NN NN
entertainment NN NN
in IN IN
August NNP NNP
. . .
<s>
`` `` ``
This DT DT
will MD MD
raise VB VB
the DT DT
energy NN NN
level NN NN
of IN IN
the DT DT
show NN NN
. . .
<s>
'' '' ''
CBS NNP NNP
will MD MD
continue VB VB
to TO TO
program VB VB
action-adventure : JJ
shows NNS NNS
to TO TO
follow VB VB
the DT DT
Sajak NNP NNP
hour NN NN
. . .
<s>
But CC CC
CBS NNP NNP
News NNP NNP
will MD MD
extend VB VB
its PRP$ PRP$
four-hour JJ JJ
`` `` ``
Nightwatch NNP NNP
'' '' ''
by IN IN
30 CD CD
minutes NNS NNS
and CC CC
begin VB VB
at IN IN
1:30 CD CD
a.m RB RB
. . .
<s>
The DT DT
show NN NN
, , ,
despite IN IN
a DT DT
promising JJ JJ
start NN NN
, , ,
has VBZ VBZ
slipped VBN VBN
badly RB RB
in IN IN
the DT DT
weekly JJ JJ
ratings NNS NNS
as IN IN
compiled VBN VBN
by IN IN
A.C. NNP NNP
Nielsen NNP NNP
Co. NNP NNP
, , ,
finishing VBG VBG
far RB RB
below IN IN
`` `` ``
Tonight NNP NNP
'' '' ''
on IN IN
NBC NNP NNP
, , ,
a DT DT
unit NN NN
of IN IN
General NNP NNP
Electric NNP NNP
Co. NNP NNP
, , ,
and CC CC
`` `` ``
Nightline NNP NNP
'' '' ''
on IN IN
ABC-TV NNP NNP
, , ,
a DT DT
unit NN NN
of IN IN
Capital NNP NNP
Cities\/ABC NNP NNP
Inc NNP NNP
. . .
<s>
Further RB RB
fractioning VBG VBG
the DT DT
late-night JJ JJ
audience NN NN
is VBZ VBZ
the DT DT
addition NN NN
of IN IN
the DT DT
`` `` ``
Arsenio NNP NNP
Hall NNP NNP
Show NNP NNP
, , ,
'' '' ''
syndicated VBN VBN
by IN IN
Paramount NNP NNP
Communications NNP NNP
Inc NNP NNP
. . .
<s>
Tandem NNP NNP
Computers NNPS NNP
Inc. NNP NNP
, , ,
preparing VBG VBG
to TO TO
fight VB VB
with IN IN
International NNP NNP
Business NNP NNP
Machines NNPS NNP
Corp. NNP NNP
for IN IN
a DT DT
piece NN NN
of IN IN
the DT DT
mainframe NN JJ
business NN NN
, , ,
said VBD VBD
it PRP PRP
expects VBZ VBZ
to TO TO
post VB VB
higher JJR JJR
revenue NN NN
and CC CC
earnings NNS NNS
for IN IN
its PRP$ PRP$
fiscal JJ JJ
fourth JJ JJ
quarter NN NN
ended VBD VBD
Sept. NNP NNP
30 CD CD
. . .
<s>
Tandem NNP NNP
said VBD VBD
it PRP PRP
expects VBZ VBZ
to TO TO
report VB VB
revenue NN NN
of IN IN
about IN RB
$ $ $
450 CD CD
million CD CD
and CC CC
earnings NNS NNS
of IN IN
35 CD CD
cents NNS NNS
to TO TO
40 CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
The DT DT
results NNS NNS
, , ,
which WDT WDT
are VBP VBP
in IN IN
line NN NN
with IN IN
analysts NNS NNS
' POS POS
estimates NNS NNS
, , ,
reflect VBP VBP
`` `` ``
a DT DT
continued VBN JJ
improvement NN NN
in IN IN
our PRP$ PRP$
U.S. NNP NNP
business NN NN
, , ,
'' '' ''
said VBD VBD
James NNP NNP
Treybig NNP NNP
, , ,
Tandem NNP NNP
's POS POS
chief JJ JJ
executive NN JJ
officer NN NN
. . .
<s>
In IN IN
the DT DT
year-earlier JJ JJ
period NN NN
, , ,
Tandem NNP NNP
reported VBD VBD
net JJ JJ
income NN NN
of IN IN
$ $ $
30.1 CD CD
million CD CD
, , ,
or CC CC
31 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
on IN IN
revenue NN NN
of IN IN
$ $ $
383.9 CD CD
million CD CD
. . .
<s>
Tandem NNP NNP
expects VBZ VBZ
to TO TO
report VB VB
the DT DT
full JJ JJ
results NNS NNS
for IN IN
the DT DT
quarter NN NN
next JJ IN
week NN NN
. . .
<s>
Analysts NNS NNS
have VBP VBP
predicted VBN VBN
that IN IN
the DT DT
Cupertino NNP NNP
, , ,
Calif. NNP NNP
, , ,
company NN NN
will MD MD
report VB VB
revenue NN NN
of IN IN
$ $ $
430 CD CD
million CD CD
to TO TO
$ $ $
460 CD CD
million CD CD
and CC CC
earnings NNS NNS
of IN IN
35 CD CD
cents NNS NNS
to TO TO
40 CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
Commenting VBG VBG
on IN IN
the DT DT
results NNS NNS
for IN IN
the DT DT
quarter NN NN
, , ,
Mr. NNP NNP
Treybig NNP NNP
said VBD VBD
the DT DT
strength NN NN
of IN IN
the DT DT
company NN NN
's POS POS
domestic JJ JJ
business NN NN
came VBD VBD
as IN IN
`` `` ``
a DT DT
surprise NN NN
'' '' ''
to TO TO
him PRP PRP
, , ,
noting VBG VBG
that IN IN
sales NNS NNS
`` `` ``
in IN IN
every DT DT
region NN NN
of IN IN
the DT DT
U.S. NNP NNP
exceeded VBD VBD
our PRP$ PRP$
plan NN NN
. . .
<s>
'' '' ''
The DT DT
company NN NN
's POS POS
U.S. NNP NNP
performance NN NN
was VBD VBD
helped VBN VBN
by IN IN
`` `` ``
a DT DT
record NN JJ
quarter NN NN
for IN IN
new JJ JJ
customers NNS NNS
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
Tandem NNP NNP
makes VBZ VBZ
`` `` ``
fault-tolerant JJ JJ
'' '' ''
computers NNS NNS
-- : :
machines NNS NNS
with IN IN
built-in JJ JJ
backup JJ JJ
systems NNS NNS
-- : :
that IN WDT
run VBP VBP
stock NN NN
exchanges NNS NNS
, , ,
networks NNS NNS
of IN IN
automatic JJ JJ
tellers NNS NNS
and CC CC
other JJ JJ
complex JJ JJ
computer NN NN
systems NNS NNS
. . .
<s>
Tomorrow NN NN
the DT DT
company NN NN
is VBZ VBZ
scheduled VBN VBN
to TO TO
announce VB VB
its PRP$ PRP$
most RBS JJS
powerful JJ JJ
computer NN NN
ever RB RB
, , ,
which WDT WDT
for IN IN
the DT DT
first JJ JJ
time NN NN
will MD MD
bring VB VB
it PRP PRP
into IN IN
direct JJ JJ
competition NN NN
with IN IN
makers NNS NNS
of IN IN
mainframe NN JJ
computers NNS NNS
. . .
<s>
Tandem NNP NNP
's POS POS
new JJ JJ
high-end JJ JJ
computer NN NN
is VBZ VBZ
called VBN VBN
Cyclone NNP NNP
. . .
<s>
Prices NNS NNS
for IN IN
the DT DT
machine NN NN
, , ,
which WDT WDT
can MD MD
come VB VB
in IN IN
various JJ JJ
configurations NNS NNS
, , ,
are VBP VBP
$ $ $
2 CD CD
million CD CD
to TO TO
$ $ $
10 CD CD
million CD CD
. . .
<s>
Analysts NNS NNS
expect VBP VBP
the DT DT
new JJ JJ
computer NN NN
to TO TO
wrest VB VB
a DT DT
hefty JJ JJ
slice NN NN
of IN IN
business NN NN
away RB RB
from IN IN
IBM NNP NNP
, , ,
the DT DT
longtime JJ JJ
leader NN NN
in IN IN
mainframes NNS NNS
. . .
<s>
`` `` ``
We PRP PRP
believe VBP VBP
they PRP PRP
could MD MD
siphon VB VB
perhaps RB RB
two CD CD
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of IN IN
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if IN IN
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in IN IN
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among IN IN
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and CC CC
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of IN IN
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to TO TO
the DT DT
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1987 CD CD
and CC CC
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of IN IN
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it PRP PRP
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in IN IN
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of IN IN
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ago RB RB
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in IN IN
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prices NNS NNS
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is VBZ VBZ
happening VBG VBG
at IN IN
a DT DT
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when WRB WRB
the DT DT
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has VBZ VBZ
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down RP RP
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of IN IN
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of IN IN
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spending NN NN
did VBD VBD
drop NN VB
in IN IN
the DT DT
months NNS NNS
following VBG VBG
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Monday NNP NNP
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-- : :
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but CC CC
only RB RB
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and CC CC
for IN IN
a DT DT
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of IN IN
time NN NN
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of IN IN
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cycles NNS NNS
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`` `` ``
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by IN IN
strength NN NN
elsewhere RB RB
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The DT DT
effects NNS NNS
) ) )
were VBD VBD
much RB RB
less RBR RBR
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and CC CC
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prolonged JJ JJ
than IN IN
some DT DT
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may MD MD
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pick VB VB
up RP RP
the DT DT
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if IN IN
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prices NNS NNS
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and CC CC
if IN IN
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in IN IN
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of IN IN
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accumulation NN NN
of IN IN
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at IN IN
the DT DT
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when WRB WRB
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are VBP VBP
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notes VBZ VBZ
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relies VBZ VBZ
on IN IN
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before IN IN
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was VBD VBD
arguing VBG VBG
that IN IN
the DT DT
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wo MD MD
n't RB RB
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up RP RP
to TO TO
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words NNS NNS
on IN IN
eliminating VBG VBG
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because IN IN
of IN IN
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to TO TO
protect VB VB
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markets NNS NNS
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and CC CC
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corporations NNS NNS
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of IN IN
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end NN NN
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collapse NN NN
suggested VBD VBD
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does VBZ VBZ
n't RB RB
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in IN IN
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with IN IN
stock NN NN
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does VBZ VBZ
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depend VBP VB
on IN IN
the DT DT
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of IN IN
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and CC CC
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on IN IN
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does VBZ VBZ
n't RB RB
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confidence NN NN
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suggested VBD VBD
that IN IN
consumer NN NN
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before IN IN
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make VB VB
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of IN IN
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that IN IN
a DT DT
few JJ JJ
times NNS NNS
over RB RB
, , ,
though RB RB
, , ,
and CC CC
it PRP PRP
will MD MD
. . .
<s>
If IN IN
the DT DT
reactions NNS NNS
of IN IN
executives NNS NNS
gathered VBD VBD
Saturday NNP NNP
at IN IN
Hot NNP NNP
Springs NNP NNP
, , ,
Va. NNP NNP
, , ,
for IN IN
the DT DT
Business NNP NNP
Council NNP NNP
meetings NNS NNS
are VBP VBP
typical JJ JJ
, , ,
business NN NN
leaders NNS NNS
were VBD VBD
n't RB RB
overly RB RB
rattled VBN VBN
by IN IN
Friday NNP NNP
's POS POS
decline NN NN
. . .
<s>
And CC CC
if IN IN
foreign JJ JJ
investors NNS NNS
become VBP VBP
a DT DT
tad NN NN
more RBR RBR
cautious JJ JJ
-- : :
well RB RB
, , ,
the DT DT
dollar NN NN
's POS POS
recent JJ JJ
strength NN NN
suggests VBZ VBZ
that IN IN
the DT DT
U.S. NNP NNP
can MD MD
stand VB VB
it PRP PRP
. . .
<s>
On IN IN
the DT DT
bottom JJ JJ
line NN NN
, , ,
the DT DT
most RBS RBS
comforting JJ JJ
fact NN NN
for IN IN
the DT DT
economic JJ JJ
outlook NN NN
is VBZ VBZ
that IN IN
we PRP PRP
've VBP VBP
been VBN VBN
through IN IN
this DT DT
before RB RB
. . .
<s>
Two CD CD
years NNS NNS
ago RB RB
, , ,
about IN RB
the DT DT
only JJ JJ
point NN NN
of IN IN
comparison NN NN
was VBD VBD
the DT DT
1929 CD CD
crash NN NN
and CC CC
the DT DT
subsequent JJ JJ
Depression NN NN
. . .
<s>
The DT DT
doomsayers NNS NNS
had VBD VBD
a DT DT
receptive JJ JJ
audience NN NN
. . .
<s>
The DT DT
prosperity NN NN
that WDT WDT
followed VBD VBD
Black NNP NNP
Monday NNP NNP
permits VBZ VBZ
a DT DT
more RBR RBR
optimistic JJ JJ
view NN NN
today NN NN
. . .
<s>
At IN IN
the DT DT
very RB RB
least JJS JJS
, , ,
the DT DT
establishment NN NN
here RB RB
is VBZ VBZ
taking VBG VBG
comfort NN NN
from IN IN
the DT DT
nation NN NN
's POS POS
success NN NN
in IN IN
handling VBG VBG
the DT DT
last JJ JJ
go-around : NN
. . .
<s>
As IN IN
Sen. NNP NNP
Lloyd NNP NNP
Bentsen NNP NNP
( ( (
D. NNP NNP
, , ,
Texas NNP NNP
) ) )
observed VBD VBD
yesterday NN NN
, , ,
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The DT DT
Fed NNP NNP
avoided VBD VBD
a DT DT
meltdown NN JJ
last JJ JJ
time NN NN
. . .
<s>
They PRP PRP
are VBP VBP
more RBR RBR
sophisticated JJ JJ
this DT DT
time NN NN
. . .
<s>
The DT DT
chemical NN NN
industry NN NN
is VBZ VBZ
expected VBN VBN
to TO TO
report VB VB
that DT IN
profits NNS NNS
eroded VBN VBD
in IN IN
the DT DT
third JJ JJ
quarter NN NN
because IN IN
of IN IN
skidding NN VBG
prices NNS NNS
in IN IN
the DT DT
commodity NN NN
end NN NN
of IN IN
the DT DT
business NN NN
. . .
<s>
Producers NNS NNS
of IN IN
commodity NN NN
chemicals NNS NNS
, , ,
the DT DT
basic JJ JJ
chemicals NNS NNS
produced VBN VBN
in IN IN
huge JJ JJ
volumes NNS NNS
for IN IN
other JJ JJ
manufacturers NNS NNS
, , ,
have VBP VBP
seen VBN VBN
sharp JJ JJ
inventory NN NN
cutting NN NN
by IN IN
buyers NNS NNS
. . .
<s>
Once RB RB
the DT DT
chief JJ JJ
beneficiaries NNS NNS
of IN IN
the DT DT
industry NN NN
's POS POS
now RB RB
fading JJ VBG
boom NN NN
, , ,
these DT DT
producers NNS NNS
also RB RB
will MD MD
be VB VB
reporting VBG VBG
against IN IN
exceptionally RB RB
strong JJ JJ
performances NNS NNS
in IN IN
the DT DT
1988 CD CD
third JJ JJ
quarter NN NN
. . .
<s>
`` `` ``
For IN IN
some DT DT
of IN IN
these DT DT
companies NNS NNS
, , ,
this DT DT
will MD MD
be VB VB
the DT DT
first JJ JJ
quarter NN NN
with IN IN
year-to-year JJ JJ
negative JJ JJ
comparisons NNS NNS
, , ,
'' '' ''
says VBZ VBZ
Leonard NNP NNP
Bogner NNP NNP
, , ,
a DT DT
chemical NN NN
industry NN NN
analyst NN NN
at IN IN
Prudential NNP NNP
Bache NNP NNP
Research NNP NNP
. . .
<s>
`` `` ``
This DT DT
could MD MD
be VB VB
the DT DT
first JJ JJ
of IN IN
five CD CD
or CC CC
six CD CD
down IN JJ
quarters NNS NNS
. . .
<s>
'' '' ''
Perhaps RB RB
most RBS RBS
prominent JJ JJ
, , ,
Dow NNP NNP
Chemical NNP NNP
Co. NNP NNP
, , ,
which WDT WDT
as IN IN
of IN IN
midyear NN NN
had VBD VBD
racked VBN VBN
up RP RP
eight CD CD
consecutive JJ JJ
record NN JJ
quarters NNS NNS
, , ,
is VBZ VBZ
expected VBN VBN
to TO TO
report VB VB
that DT DT
profit NN NN
decreased VBD VBD
in IN IN
the DT DT
latest JJS JJS
quarter NN NN
from IN IN
a DT DT
year NN NN
earlier RBR RBR
, , ,
if IN IN
only RB RB
by IN IN
a DT DT
shade NN NN
. . .
<s>
Though IN IN
Dow NNP NNP
has VBZ VBZ
aggressively RB RB
diversified VBN VBN
into IN IN
specialty NN NN
chemicals NNS NNS
and CC CC
pharmaceuticals NNS NNS
, , ,
the DT DT
company NN NN
still RB RB
has VBZ VBZ
a DT DT
big JJ JJ
stake NN NN
in IN IN
polyethylene NN NN
, , ,
which WDT WDT
is VBZ VBZ
used VBN VBN
in IN IN
packaging NN NN
and CC CC
housewares NNS NNS
. . .
<s>
Analysts NNS NNS
' POS POS
third-quarter JJ JJ
estimates NNS NNS
for IN IN
the DT DT
Midland NNP NNP
, , ,
Mich. NNP NNP
, , ,
company NN NN
are VBP VBP
between IN IN
$ $ $
3.20 CD CD
a DT DT
share NN NN
and CC CC
$ $ $
3.30 CD CD
a DT DT
share NN NN
, , ,
compared VBN VBN
with IN IN
$ $ $
3.36 CD CD
a DT DT
year NN NN
ago RB RB
, , ,
when WRB WRB
profit NN NN
was VBD VBD
$ $ $
632 CD CD
million CD CD
on IN IN
sales NNS NNS
of IN IN
$ $ $
4.15 CD CD
billion CD CD
. . .
<s>
A DT DT
Dow NNP NNP
spokeswoman NN NN
declined VBD VBD
to TO TO
comment VB VB
on IN IN
the DT DT
estimates NNS NNS
. . .
<s>
At IN IN
the DT DT
investment NN NN
firm NN NN
of IN IN
Smith NNP NNP
Barney NNP NNP
, , ,
Harris NNP NNP
Upham NNP NNP
& CC CC
Co. NNP NNP
, , ,
the DT DT
commodity-chemical JJ JJ
segment NN NN
is VBZ VBZ
seen VBN VBN
pulling VBG VBG
down RP RP
overall JJ JJ
profit NN NN
for IN IN
20 CD CD
companies NNS NNS
representative NN JJ
of IN IN
the DT DT
whole JJ JJ
industry NN NN
by IN IN
8 CD CD
% NN NN
to TO TO
10 CD CD
% NN NN
. . .
<s>
`` `` ``
You PRP PRP
will MD MD
find VB VB
the DT DT
commodities NNS NNS
off RP RB
more JJR RBR
than IN IN
the DT DT
others NNS NNS
and CC CC
the DT DT
diversified JJ JJ
companies NNS NNS
about IN RB
even RB JJ
or CC CC
slightly RB RB
better RBR JJR
, , ,
'' '' ''
says VBZ VBZ
James NNP NNP
Wilbur NNP NNP
, , ,
a DT DT
Smith NNP NNP
Barney NNP NNP
analyst NN NN
. . .
<s>
First NNP NNP
Boston NNP NNP
Corp. NNP NNP
projects VBZ VBZ
that IN IN
10 CD CD
of IN IN
the DT DT
15 CD CD
companies NNS NNS
it PRP PRP
follows VBZ VBZ
will MD MD
report VB VB
lower JJR JJR
profit NN NN
. . .
<s>
Most JJS JJS
of IN IN
the DT DT
10 CD CD
have VBP VBP
big JJ JJ
commodity-chemical JJ JJ
operations NNS NNS
. . .
<s>
Still RB RB
, , ,
some DT DT
industry NN NN
giants NNS NNS
are VBP VBP
expected VBN VBN
to TO TO
report VB VB
continuing VBG JJ
gains NNS NNS
, , ,
largely RB RB
because IN IN
so RB RB
much JJ JJ
of IN IN
their PRP$ PRP$
business NN NN
is VBZ VBZ
outside JJ IN
commodity NN NN
chemicals NNS NNS
. . .
<s>
Du NNP NNP
Pont NNP NNP
Co. NNP NNP
is VBZ VBZ
thought VBN VBN
to TO TO
have VB VB
had VBN VBD
steady JJ JJ
profit NN NN
growth NN NN
in IN IN
white JJ JJ
pigments NNS NNS
, , ,
fibers NNS NNS
and CC CC
polymers NNS NNS
. . .
<s>
Moreover RB RB
, , ,
the DT DT
Wilmington NNP NNP
, , ,
Del. NNP NNP
, , ,
company NN NN
is VBZ VBZ
helped VBN VBN
when WRB WRB
prices NNS NNS
weaken VBP VBP
on IN IN
the DT DT
commodity NN NN
chemicals NNS NNS
it PRP PRP
buys VBZ VBZ
for IN IN
its PRP$ PRP$
own JJ JJ
production NN NN
needs NNS NNS
, , ,
such JJ JJ
as IN IN
ethylene NN NN
. . .
<s>
Analysts NNS NNS
are VBP VBP
divided VBN VBN
over IN IN
whether IN IN
Du NNP NNP
Pont NNP NNP
will MD MD
report VB VB
much JJ JJ
of IN IN
a DT DT
gain NN NN
in IN IN
the DT DT
latest JJS JJS
quarter NN NN
from IN IN
its PRP$ PRP$
Conoco NNP NNP
Inc. NNP NNP
oil NN NN
company NN NN
. . .
<s>
The DT DT
estimates NNS NNS
for IN IN
Du NNP NNP
Pont NNP NNP
range NN NN
from IN IN
$ $ $
2.25 CD CD
to TO TO
$ $ $
2.45 CD CD
a DT DT
share NN NN
. . .
<s>
In IN IN
the DT DT
1988 CD CD
third JJ JJ
quarter NN NN
, , ,
the DT DT
company NN NN
earned VBD VBD
$ $ $
461 CD CD
million CD CD
, , ,
or CC CC
$ $ $
1.91 CD CD
a DT DT
share NN NN
, , ,
on IN IN
sales NNS NNS
of IN IN
$ $ $
7.99 CD CD
billion CD CD
. . .
<s>
Du NNP NNP
Pont NNP NNP
declined VBD VBD
to TO TO
comment VB VB
. . .
<s>
Monsanto NNP NNP
Co. NNP NNP
, , ,
too RB RB
, , ,
is VBZ VBZ
expected VBN VBN
to TO TO
continue VB VB
reporting VBG VBG
higher JJR JJR
profit NN NN
, , ,
even RB RB
though IN IN
its PRP$ PRP$
sales NNS NNS
of IN IN
crop NN NN
chemicals NNS NNS
were VBD VBD
hurt VBN VBN
in IN IN
the DT DT
latest JJS JJS
quarter NN NN
by IN IN
drought NN NN
in IN IN
northern JJ JJ
Europe NNP NNP
and CC CC
the DT DT
western JJ JJ
U.S. NNP NNP
. . .
<s>
The DT DT
St. NNP NNP
Louis-based JJ JJ
company NN NN
is VBZ VBZ
expected VBN VBN
to TO TO
report VB VB
again RB RB
that IN IN
losses NNS NNS
in IN IN
its PRP$ PRP$
G.D. NNP NNP
Searle NNP NNP
& CC CC
Co. NNP NNP
pharmaceutical JJ JJ
business NN NN
are VBP VBP
narrowing VBG VBG
. . .
<s>
Searle NNP NNP
continued VBD VBD
to TO TO
operate VB VB
in IN IN
the DT DT
red NN NN
through IN IN
the DT DT
first JJ JJ
half NN NN
of IN IN
the DT DT
year NN NN
, , ,
but CC CC
Monsanto NNP NNP
has VBZ VBZ
said VBN VBD
it PRP PRP
expects VBZ VBZ
Searle NNP NNP
to TO TO
post VB VB
a DT DT
profit NN NN
for IN IN
all DT DT
of IN IN
1989 CD CD
. . .
<s>
Most JJS JJS
estimates NNS NNS
for IN IN
Monsanto NNP NNP
run VBP VBP
between IN IN
$ $ $
1.70 CD CD
and CC CC
$ $ $
2 CD CD
a DT DT
share NN NN
. . .
<s>
A DT DT
year NN NN
ago RB RB
, , ,
the DT DT
company NN NN
posted VBD VBD
third-quarter JJ JJ
profit NN NN
of IN IN
$ $ $
116 CD CD
million CD CD
, , ,
or CC CC
$ $ $
1.67 CD CD
a DT DT
share NN NN
, , ,
on IN IN
sales NNS NNS
of IN IN
$ $ $
2.02 CD CD
billion CD CD
. . .
<s>
Monsanto NNP NNP
declined VBD VBD
to TO TO
comment VB VB
. . .
<s>
But CC CC
the DT DT
commodity-chemical JJ JJ
producers NNS NNS
are VBP VBP
caught VBN VBN
on IN IN
the DT DT
downside NN NN
of IN IN
a DT DT
pricing NN NN
cycle NN NN
. . .
<s>
By IN IN
some DT DT
accounts NNS NNS
on IN IN
Wall NNP NNP
Street NNP NNP
and CC CC
in IN IN
the DT DT
industry NN NN
, , ,
the DT DT
inventory NN NN
reductions NNS NNS
are VBP VBP
near IN IN
an DT DT
end NN NN
, , ,
which WDT WDT
may MD MD
presage VB VB
firmer JJR JJR
demand NN NN
. . .
<s>
But CC CC
doubters NNS NNS
say VBP VBP
growing VBG VBG
production NN NN
capacity NN NN
could MD MD
keep VB VB
pressure NN NN
on IN IN
prices NNS NNS
into IN IN
the DT DT
early JJ JJ
1990s CD NNS
. . .
<s>
In IN IN
the DT DT
latest JJS JJS
quarter NN NN
, , ,
at IN IN
least JJS JJS
, , ,
profit NN NN
is VBZ VBZ
expected VBN VBN
to TO TO
fall VB VB
sharply RB RB
. . .
<s>
For IN IN
Himont NNP NNP
Inc. NNP NNP
, , ,
`` `` ``
how WRB WRB
far RB RB
down IN RB
it PRP PRP
is VBZ VBZ
, , ,
we PRP PRP
do VBP VBP
n't RB RB
know VB VB
, , ,
'' '' ''
says VBZ VBZ
Leslie NNP NNP
Ravitz NNP NNP
at IN IN
Salomon NNP NNP
Brothers NNP NNP
. . .
<s>
The DT DT
projections NNS NNS
are VBP VBP
in IN IN
the DT DT
neighborhood NN NN
of IN IN
50 CD CD
cents NNS NNS
a DT DT
share NN NN
to TO TO
75 CD CD
cents NNS NNS
, , ,
compared VBN VBN
with IN IN
a DT DT
restated VBN JJ
$ $ $
1.65 CD CD
a DT DT
share NN NN
a DT DT
year NN NN
earlier RBR RBR
, , ,
when WRB WRB
profit NN NN
was VBD VBD
$ $ $
107.8 CD CD
million CD CD
on IN IN
sales NNS NNS
of IN IN
$ $ $
435.5 CD CD
million CD CD
. . .
<s>
Himont NNP NNP
faces VBZ VBZ
lower JJR JJR
prices NNS NNS
for IN IN
its PRP$ PRP$
mainstay NN NN
product NN NN
, , ,
polypropylene NN NN
, , ,
while IN IN
it PRP PRP
goes VBZ VBZ
forward RB RB
with IN IN
a DT DT
heavy JJ JJ
capital NN NN
investment NN NN
program NN NN
to TO TO
bolster VB VB
its PRP$ PRP$
raw JJ JJ
material NN NN
supply NN NN
and CC CC
develop VB VB
new JJ JJ
uses NNS NNS
for IN IN
polypropylene NN NN
, , ,
whose WP$ WP$
markets NNS NNS
include VBP VBP
the DT DT
packaging NN NN
and CC CC
automobile NN NN
industries NNS NNS
. . .
<s>
The DT DT
company NN NN
, , ,
based VBN VBN
in IN IN
Wilmington NNP NNP
, , ,
Del. NNP NNP
, , ,
is VBZ VBZ
81%-owned JJ JJ
by IN IN
Montedison NNP NNP
S.p NNP NNP
. . .
<s>
A. NNP NNP
, , ,
Milan NNP NNP
, , ,
which WDT WDT
has VBZ VBZ
an DT DT
offer NN NN
outstanding JJ JJ
for IN IN
the DT DT
Himont NNP NNP
shares NNS NNS
it PRP PRP
does VBZ VBZ
n't RB RB
already RB RB
own VB VB
. . .
<s>
At IN IN
Quantum NNP NNP
Chemical NNP NNP
Corp. NNP NNP
, , ,
New NNP NNP
York NNP NNP
, , ,
the DT DT
trouble NN NN
is VBZ VBZ
lower JJR JJR
prices NNS NNS
for IN IN
polyethylene NN NN
, , ,
higher JJR JJR
debt NN NN
costs NNS NNS
and CC CC
the DT DT
idling VBG NN
of IN IN
an DT DT
important JJ JJ
plant NN NN
due JJ RB
to TO TO
an DT DT
explosion NN NN
. . .
<s>
Some DT DT
analysts NNS NNS
hedge VB VBP
their PRP$ PRP$
estimates NNS NNS
for IN IN
Quantum NNP NNP
, , ,
because IN IN
it PRP PRP
is VBZ VBZ
n't RB RB
known VBN VBN
when WRB WRB
the DT DT
company NN NN
will MD MD
book VB VB
certain JJ JJ
one-time JJ JJ
charges NNS NNS
. . .
<s>
But CC CC
the DT DT
estimates NNS NNS
range VBP VBP
from IN IN
break-even JJ JJ
to TO TO
35 CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
In IN IN
the DT DT
1988 CD CD
third JJ JJ
quarter NN NN
, , ,
Quantum NNP NNP
earned VBD VBD
$ $ $
99.8 CD CD
million CD CD
, , ,
or CC CC
$ $ $
3.92 CD CD
a DT DT
share NN NN
, , ,
on IN IN
sales NNS NNS
of IN IN
$ $ $
724.4 CD CD
million CD CD
. . .
<s>
Another DT DT
big JJ JJ
polyethylene NN NN
producer NN NN
, , ,
Union NNP NNP
Carbide NNP NNP
Corp. NNP NNP
, , ,
is VBZ VBZ
expected VBN VBN
to TO TO
post VB VB
profit NN NN
of IN IN
between IN IN
$ $ $
1 CD CD
a DT DT
share NN NN
and CC CC
$ $ $
1.25 CD CD
, , ,
compared VBN VBN
with IN IN
$ $ $
1.56 CD CD
a DT DT
share NN NN
a DT DT
year NN NN
earlier RBR RBR
, , ,
when WRB WRB
the DT DT
company NN NN
earned VBD VBD
$ $ $
213 CD CD
million CD CD
on IN IN
sales NNS NNS
of IN IN
$ $ $
2.11 CD CD
billion CD CD
. . .
<s>
Himont NNP NNP
, , ,
Quantum NNP NNP
and CC CC
Union NNP NNP
Carbide NNP NNP
all DT DT
declined VBD VBD
to TO TO
comment VB VB
. . .
<s>
The DT DT
following JJ JJ
were VBD VBD
among IN IN
Friday NNP NNP
's POS POS
offerings NNS NNS
and CC CC
pricings NNS NNS
in IN IN
the DT DT
U.S. NNP NNP
and CC CC
non-U.S. JJ JJ
capital NN NN
markets NNS NNS
, , ,
with IN IN
terms NNS NNS
and CC CC
syndicate NN NN
manager NN NN
, , ,
as IN IN
compiled VBN VBN
by IN IN
Dow NNP NNP
Jones NNP NNP
Capital NNP NNP
Markets NNPS NNP
Report NNP NNP
: : :
Dow NNP NNP
Chemical NNP NNP
Co. NNP NNP
-- : :
$ $ $
150 CD CD
million CD CD
of IN IN
8.55 CD CD
% NN NN
senior JJ JJ
notes NNS NNS
due JJ JJ
Oct. NNP NNP
15 CD CD
, , ,
2009 CD CD
, , ,
priced VBN VBN
at IN IN
par NN NN
. . .
<s>
The DT DT
issue NN NN
, , ,
which WDT WDT
is VBZ VBZ
puttable JJ JJ
back RB RB
to TO TO
the DT DT
company NN NN
at IN IN
par NN NN
on IN IN
Oct. NNP NNP
15 CD CD
, , ,
1999 CD CD
, , ,
was VBD VBD
priced VBN VBN
at IN IN
a DT DT
spread NN NN
of IN IN
50 CD CD
basis NN NN
points NNS NNS
above IN IN
the DT DT
Treasury NNP NNP
's POS POS
10-year JJ JJ
note NN NN
. . .
<s>
Rated VBN VBN
single-A-1 JJ JJ
by IN IN
Moody NNP NNP
's POS POS
Investors NNPS NNP
Service NNP NNP
Inc. NNP NNP
and CC CC
single-A JJ JJ
by IN IN
Standard NNP NNP
& CC CC
Poor NNP NNP
's POS POS
Corp. NNP NNP
, , ,
the DT DT
non-callable JJ JJ
issue NN NN
will MD MD
be VB VB
sold VBN VBN
through IN IN
underwriters NNS NNS
led VBN VBN
by IN IN
Merrill NNP NNP
Lynch NNP NNP
Capital NNP NNP
Markets NNPS NNP
. . .
<s>
Centel NNP NNP
Capital NNP NNP
Corp. NNP NNP
-- : :
$ $ $
150 CD CD
million CD CD
of IN IN
9 CD CD
% NN NN
debentures NNS NNS
due JJ JJ
Oct. NNP NNP
15 CD CD
, , ,
2019 CD CD
, , ,
priced VBN VBN
at IN IN
99.943 CD CD
to TO TO
yield VB VB
9.008 CD CD
% NN NN
. . .
<s>
The DT DT
non-callable JJ JJ
issue NN NN
, , ,
which WDT WDT
can MD MD
be VB VB
put VBN VBN
back RB RB
to TO TO
the DT DT
company NN NN
in IN IN
1999 CD CD
, , ,
was VBD VBD
priced VBN VBN
at IN IN
99 CD CD
basis NN NN
points NNS NNS
above IN IN
the DT DT
Treasury NNP NNP
's POS POS
10-year JJ JJ
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lunch NN NN
over IN IN
the DT DT
phone NN NN
. . .
<s>
Little JJ JJ
chance NN NN
that IN IN
Shane NNP NNP
Longman NNP NNP
is VBZ VBZ
going VBG VBG
to TO TO
recoup VB VB
today NN NN
. . .
<s>
Traders NNS NNS
spend VBP VBP
the DT DT
morning NN NN
frantically RB RB
selling VBG VBG
bonds NNS NNS
, , ,
in IN IN
the DT DT
belief NN NN
that IN IN
the DT DT
U.S. NNP NNP
monthly JJ JJ
trade NN NN
figures NNS NNS
will MD MD
look VB VB
lousy JJ JJ
. . .
<s>
Ah UH UH
, , ,
perfidious JJ JJ
Columbia NNP NNP
! . .
<s>
The DT DT
trade NN NN
figures NNS NNS
turn VBP VBP
out RP RP
well RB RB
, , ,
and CC CC
all PDT PDT
those DT DT
recently RB RB
unloaded JJ VBN
bonds NNS NNS
spurt NN VBP
in IN IN
price NN NN
. . .
<s>
So RB RB
much RB RB
for IN IN
anticipating VBG VBG
the DT DT
market NN NN
by IN IN
a DT DT
fraction NN NN
of IN IN
a DT DT
second NN NN
. . .
<s>
And CC CC
a DT DT
large JJ JJ
slice NN NN
of IN IN
the DT DT
first JJ JJ
episode NN NN
is VBZ VBZ
devoted VBN VBN
to TO TO
efforts NNS NNS
to TO TO
get VB VB
rid VB JJ
of IN IN
some DT DT
nearly RB RB
worthless JJ JJ
Japanese JJ JJ
bonds NNS NNS
( ( (
since IN IN
when WRB WRB
is VBZ VBZ
anything NN NN
Japanese JJ JJ
nearly RB RB
worthless JJ JJ
nowadays RB RB
? . .
<s>
) ) )
. . .
<s>
Surprisingly RB RB
, , ,
Shane NNP NNP
Longman NNP NNP
survives VBZ VBZ
the DT DT
week NN NN
, , ,
only RB RB
to TO TO
have VB VB
a DT DT
senior JJ JJ
executive NN NN
innocently RB RB
bumble VBP VB
his PRP$ PRP$
way NN NN
into IN IN
becoming VBG VBG
the DT DT
target NN NN
of IN IN
a DT DT
criminal JJ JJ
insider NN NN
trading NN NN
investigation NN NN
. . .
<s>
Instead RB RB
of IN IN
closing VBG VBG
ranks NNS NNS
to TO TO
protect VB VB
the DT DT
firm NN NN
's POS POS
reputation NN NN
, , ,
the DT DT
executive NN NN
's POS POS
internal JJ JJ
rivals NNS NNS
, , ,
led VBN VBN
by IN IN
a DT DT
loutish JJ JJ
American NNP NNP
, , ,
demand VB VBP
his PRP$ PRP$
resignation NN NN
. . .
<s>
The DT DT
plot NN NN
is VBZ VBZ
thwarted VBN VBN
when WRB WRB
the DT DT
firm NN NN
's POS POS
major JJ JJ
stockholder NN NN
, , ,
kelp NN NN
farming NN NN
on IN IN
the DT DT
other JJ JJ
side NN NN
of IN IN
the DT DT
globe NN NN
, , ,
hurries : VBZ
home NN RB
to TO TO
support VB VB
the DT DT
executive NN NN
. . .
<s>
But CC CC
the DT DT
investigation NN NN
continues VBZ VBZ
. . .
<s>
If IN IN
you PRP PRP
can MD MD
swallow VB VB
the DT DT
premise NN NN
that IN IN
the DT DT
rewards NNS NNS
for IN IN
such JJ JJ
ineptitude NN NN
are VBP VBP
six-figure JJ JJ
salaries NNS NNS
, , ,
you PRP PRP
still RB RB
are VBP VBP
left VBN VBN
puzzled VBN VBN
, , ,
because IN IN
few JJ JJ
of IN IN
the DT DT
yuppies NNS NNS
consume VBP VBP
very RB RB
conspicuously RB RB
. . .
<s>
In IN IN
fact NN NN
, , ,
few JJ JJ
consume VBP VBP
much JJ RB
of IN IN
anything NN NN
. . .
<s>
Two CD CD
share NN NN
a DT DT
house NN NN
almost RB RB
devoid JJ JJ
of IN IN
furniture NN NN
. . .
<s>
Michelle NNP NNP
lives VBZ VBZ
in IN IN
a DT DT
hotel NN NN
room NN NN
, , ,
and CC CC
although IN IN
she PRP PRP
drives VBZ VBZ
a DT DT
canary-colored JJ JJ
Porsche NNP NNP
, , ,
she PRP PRP
has VBZ VBZ
n't RB RB
time NN NN
to TO TO
clean VB VB
or CC CC
repair VB VB
it PRP PRP
; : :
the DT DT
beat-up JJ JJ
vehicle NN NN
can MD MD
be VB VB
started VBN VBN
only RB RB
with IN IN
a DT DT
huge JJ JJ
pair NN NN
of IN IN
pliers NNS NNS
because IN IN
the DT DT
ignition NN NN
key NN NN
has VBZ VBZ
broken VBN VBN
off RP RP
in IN IN
the DT DT
lock NN NN
. . .
<s>
And CC CC
it PRP PRP
takes VBZ VBZ
Declan NNP NNP
, , ,
the DT DT
obligatory JJ JJ
ladies NNS NNS
' POS POS
man NN NN
of IN IN
the DT DT
cast NN NN
, , ,
until IN IN
the DT DT
third JJ JJ
episode NN NN
to TO TO
get VB VB
past JJ IN
first JJ JJ
base NN NN
with IN IN
any DT DT
of IN IN
his PRP$ PRP$
prey NN NN
. . .
<s>
Perhaps RB RB
the DT DT
explanation NN NN
for IN IN
these DT DT
anomalies NNS NNS
is VBZ VBZ
that IN IN
class-conscious JJ JJ
Britain NNP NNP
is VBZ VBZ
n't RB RB
ready JJ JJ
to TO TO
come VB VB
to TO TO
terms NNS NNS
with IN IN
the DT DT
wealth NN NN
created VBN VBN
by IN IN
the DT DT
Thatcherian JJ JJ
free-enterprise NN NN
regime NN NN
. . .
<s>
After IN IN
all DT DT
, , ,
this DT DT
is VBZ VBZ
n't RB RB
old JJ JJ
money NN NN
, , ,
but CC CC
new JJ JJ
money NN NN
, , ,
and CC CC
in IN IN
many JJ JJ
cases NNS NNS
, , ,
young JJ JJ
money NN NN
. . .
<s>
This DT DT
attitude NN NN
is VBZ VBZ
clearly RB RB
illustrated VBN VBN
in IN IN
the DT DT
treatment NN NN
of IN IN
Max NNP NNP
, , ,
the DT DT
trading NN NN
room NN NN
's POS POS
most RBS RBS
flamboyant JJ JJ
character NN NN
. . .
<s>
Yuppily RB RB
enough RB RB
, , ,
he PRP PRP
lives VBZ VBZ
in IN IN
a DT DT
lavishly RB RB
furnished VBN VBN
converted VBN VBN
church NN NN
, , ,
wears VBZ VBZ
designer NN NN
clothes NNS NNS
and CC CC
drives VBZ VBZ
an DT DT
antique JJ JJ
car NN NN
. . .
<s>
But CC CC
apparently RB RB
to TO TO
make VB VB
him PRP PRP
palatable JJ JJ
, , ,
even RB RB
lovable JJ JJ
, , ,
to TO TO
the DT DT
masses NNS NNS
, , ,
the DT DT
script NN NN
inflates VBZ VBZ
pony-tailed : JJ
Max NNP NNP
into IN IN
an DT DT
eccentric JJ JJ
genius NN NN
, , ,
master NN NN
of IN IN
11 CD CD
Chinese JJ JJ
dialects NNS NNS
. . .
<s>
He PRP PRP
takes VBZ VBZ
his PRP$ PRP$
wash NN NN
to TO TO
the DT DT
laundromat NN NN
, , ,
where WRB WRB
he PRP PRP
meets VBZ VBZ
a DT DT
punky JJ JJ
French JJ JJ
girl NN NN
who WP WP
dupes VBZ VBZ
him PRP PRP
into IN IN
providing VBG VBG
a DT DT
home NN NN
for IN IN
her PRP$ PRP$
pet NN NN
piranha NN NN
and CC CC
then RB RB
promptly RB RB
steals VBZ VBZ
his PRP$ PRP$
car NN NN
and CC CC
dumps VBZ VBZ
it PRP PRP
in IN IN
Dieppe NNP NNP
. . .
<s>
In IN IN
producing VBG VBG
and CC CC
promoting VBG VBG
`` `` ``
Capital NNP NNP
City NNP NNP
, , ,
'' '' ''
Thames : NNP
has VBZ VBZ
spent VBN VBN
about IN IN
as RB RB
much JJ JJ
as IN IN
Shane NNP NNP
Longman NNP NNP
loses VBZ VBZ
on IN IN
a DT DT
good JJ JJ
day NN NN
. . .
<s>
The DT DT
production NN NN
costs NNS NNS
are VBP VBP
a DT DT
not RB RB
inconsiderable JJ JJ
# # #
8 CD CD
million CD CD
( ( (
$ $ $
12.4 CD CD
million CD CD
) ) )
, , ,
and CC CC
would MD MD
have VB VB
been VBN VBN
much RB RB
higher JJR JJR
had VBD VBD
not RB RB
the DT DT
cost NN NN
of IN IN
the DT DT
trading NN NN
floor NN NN
set VBN NN
been VBN VBN
absorbed VBN VBN
in IN IN
the DT DT
budget NN NN
of IN IN
`` `` ``
Dealers NNS NNS
, , ,
'' '' ''
an DT DT
earlier RBR JJR
made-for-TV JJ JJ
movie NN NN
. . .
<s>
Another DT DT
half NN DT
million CD CD
quid NN NN
went VBD VBD
for IN IN
a DT DT
volley NN NN
of IN IN
full-page JJ JJ
advertisements NNS NNS
in IN IN
six CD CD
major JJ JJ
British JJ JJ
newspapers NNS NNS
and CC CC
for IN IN
huge JJ JJ
posters NNS NNS
in IN IN
the DT DT
London NNP JJ
subway NN NN
. . .
<s>
These DT DT
expenses NNS NNS
create VBP VBP
a DT DT
special JJ JJ
incentive NN NN
for IN IN
`` `` ``
Capital NNP NNP
City NNP NNP
's POS POS
'' '' ''
producers NNS NNS
to TO TO
flog VB VB
it PRP PRP
, , ,
or CC CC
a DT DT
Yank-oriented JJ JJ
version NN NN
of IN IN
it PRP PRP
, , ,
in IN IN
America NNP NNP
. . .
<s>
Thames NNP NNP
's POS POS
U.S. NNP NNP
marketing NN NN
agent NN NN
, , ,
Donald NNP NNP
Taffner NNP NNP
, , ,
is VBZ VBZ
preparing VBG VBG
to TO TO
do VB VB
just RB RB
that DT DT
. . .
<s>
He PRP PRP
is VBZ VBZ
discreetly RB RB
hopeful JJ JJ
, , ,
citing VBG VBG
three CD CD
U.S. NNP NNP
comedy NN NN
series NN NN
-- : :
`` `` ``
Three NNP NNP
's POS POS
Company NNP NNP
, , ,
'' '' ''
`` `` ``
Too RB NNP
Close JJ NNP
for IN IN
Comfort NNP NNP
'' '' ''
and CC CC
`` `` ``
Check VB NNP
It PRP NNP
Out IN NNP
'' '' ''
-- : :
that IN WDT
had VBD VBD
British NNP JJ
antecedents : NNS
. . .
<s>
Perhaps RB RB
without IN IN
realizing VBG VBG
it PRP PRP
, , ,
Mr. NNP NNP
Taffner NNP NNP
simultaneously RB RB
has VBZ VBZ
put VBN VBN
his PRP$ PRP$
finger NN NN
on IN IN
the DT DT
problem NN NN
and CC CC
an DT DT
ideal JJ JJ
solution NN NN
: : :
`` `` ``
Capital NNP NNP
City NNP NNP
'' '' ''
should MD MD
have VB VB
been VBN VBN
a DT DT
comedy NN NN
, , ,
a DT DT
worthy JJ JJ
sequel NN NN
to TO TO
the DT DT
screwball NN JJ
British JJ JJ
`` `` ``
Carry NNP NNP
On IN NNP
'' '' ''
movies NNS NNS
of IN IN
the DT DT
1960s CD CD
. . .
<s>
The DT DT
seeds NNS NNS
already RB RB
are VBP VBP
in IN IN
the DT DT
script NN NN
. . .
<s>
The DT DT
first JJ JJ
episode NN NN
concluded VBD VBD
with IN IN
a DT DT
marvelously RB RB
cute JJ JJ
scene NN NN
in IN IN
which WDT WDT
the DT DT
trading-room NN NN
crew NN NN
minded VBD VBD
a DT DT
baby NN NN
, , ,
the DT DT
casualty NN NN
of IN IN
a DT DT
broken JJ VBN
marriage NN NN
at IN IN
the DT DT
firm NN NN
. . .
<s>
And CC CC
many JJ JJ
in IN IN
the DT DT
young JJ JJ
cast NN NN
bear NN VBP
striking VBG JJ
resemblances NNS NNS
to TO TO
American JJ JJ
TV NN NN
and CC CC
movie NN NN
personalities NNS NNS
known VBN VBN
for IN IN
light JJ JJ
roles NNS NNS
. . .
<s>
Joanna NNP NNP
Kanska NNP NNP
looks VBZ VBZ
like IN IN
a DT DT
young JJ JJ
Zsa NNP NNP
Zsa NNP NNP
Gabor NNP NNP
; : :
William NNP NNP
Armstrong NNP NNP
, , ,
who WP WP
plays VBZ VBZ
Max NNP NNP
, , ,
could MD MD
pass VB VB
for IN IN
Hans NNP NNP
Conreid NNP NNP
, , ,
and CC CC
Douglas NNP NNP
Hodge NNP NNP
( ( (
Declan NNP NNP
) ) )
for IN IN
James NNP NNP
Farentino NNP NNP
; : :
Rolf NNP NNP
Saxon NNP NNP
is VBZ VBZ
a DT DT
passable JJ JJ
Tommy NNP NNP
Noonan NNP NNP
and CC CC
Dorian NNP NNP
Healy NNP NNP
could MD MD
easily RB RB
double VB VB
for IN IN
Huntz NNP NNP
Hall NNP NNP
, , ,
the DT DT
blank-faced JJ JJ
foil NN NN
of IN IN
the DT DT
Bowery NNP NNP
Boys NNPS NNPS
comedies NNS NNS
. . .
<s>
So RB RB
, , ,
OK JJ UH
kids NNS NNS
, , ,
everybody NN NN
on IN IN
stage NN NN
for IN IN
`` `` ``
Carry NNP NNP
On IN NNP
Trading NNP NNP
'' '' ''
: : :
The DT DT
cast NN NN
is VBZ VBZ
frantically RB RB
searching VBG VBG
the DT DT
office NN NN
for IN IN
misplaced VBN VBN
Japanese JJ JJ
bonds NNS NNS
that WDT WDT
suddenly RB RB
have VBP VBP
soared VBN VBN
in IN IN
value NN NN
because IN IN
Dai-Ichi NNP NNP
Kangyo NNP NNP
Bank NNP NNP
has VBZ VBZ
just RB RB
bought VBN VBN
the DT DT
White NNP NNP
House NNP NNP
. . .
<s>
The DT DT
pressure NN NN
is VBZ VBZ
too RB RB
much JJ RB
for IN IN
Zsa NNP NNP
Zsa NNP NNP
, , ,
who WP WP
slaps VBZ VBZ
a DT DT
security NN NN
guard NN NN
. . .
<s>
He PRP PRP
backflips VBZ VBZ
into IN IN
a DT DT
desktop NN NN
computer NN NN
terminal NN NN
, , ,
which WDT WDT
explodes : VBZ
, , ,
covering VBG VBG
Huntz NNP NNP
Hall NNP NNP
's POS POS
face NN NN
with IN IN
microchips : NNS
. . .
<s>
And CC CC
all PDT PDT
the DT DT
while NN NN
, , ,
the DT DT
bonds NNS NNS
are VBP VBP
in IN IN
the DT DT
baby NN NN
's POS POS
diaper NN NN
. . .
<s>
It PRP PRP
should MD MD
run VB VB
forever RB RB
. . .
<s>
Mr. NNP NNP
Rustin NNP NNP
is VBZ VBZ
senior JJ JJ
correspondent NN NN
in IN IN
the DT DT
Journal NNP NNP
's POS POS
London NNP NNP
bureau NN NN
. . .
<s>
Axa-Midi NNP NNP
Assurances NNP NNPS
of IN IN
France NNP NNP
gave VBD VBD
details NNS NNS
of IN IN
its PRP$ PRP$
financing NN VBG
plans NNS NNS
for IN IN
its PRP$ PRP$
proposed VBN VBN
$ $ $
4.5 CD CD
billion CD CD
acquisition NN NN
of IN IN
Farmers NNP NNPS
Group NNP NNP
Inc. NNP NNP
, , ,
in IN IN
amended VBN VBN
filings NNS NNS
with IN IN
insurance NN NN
regulators NNS NNS
in IN IN
the DT DT
nine CD CD
U.S. NNP NNP
states NNS NNS
where WRB WRB
Farmers NNP NNP
operates VBZ VBZ
. . .
<s>
The DT DT
proposed VBN VBN
acquisition NN NN
is VBZ VBZ
part NN NN
of IN IN
Sir NNP NNP
James NNP NNP
Goldsmith NNP NNP
's POS POS
unfriendly JJ JJ
takeover NN NN
attempt NN NN
for IN IN
B.A.T NNP NNP
Industries NNP NNPS
PLC NNP NNP
, , ,
the DT DT
British JJ JJ
tobacco NN NN
, , ,
retailing NN NN
, , ,
paper NN NN
and CC CC
financial JJ JJ
services NNS NNS
concern NN NN
that WDT WDT
is VBZ VBZ
parent NN NN
of IN IN
Los NNP NNP
Angeles-based JJ JJ
Farmers NNP NNPS
. . .
<s>
In IN IN
an DT DT
attempt NN NN
to TO TO
appease VB VB
U.S. NNP NNP
regulators NNS NNS
' POS POS
concern NN NN
over IN IN
a DT DT
Goldsmith NNP NNP
acquisition NN NN
of IN IN
Farmers NNP NNPS
, , ,
Sir NNP NNP
James NNP NNP
in IN IN
August NNP NNP
agreed VBD VBD
to TO TO
sell VB VB
Farmers NNP NNPS
to TO TO
Axa NNP NNP
if IN IN
he PRP PRP
is VBZ VBZ
successful JJ JJ
in IN IN
acquiring VBG VBG
B.A.T NNP NNP
. . .
<s>
As IN IN
part NN NN
of IN IN
the DT DT
agreement NN NN
, , ,
Axa NNP NNP
agreed VBD VBD
to TO TO
invest VB VB
$ $ $
1 CD CD
billion CD CD
in IN IN
Hoylake NNP NNP
Investments NNP NNPS
Ltd. NNP NNP
, , ,
Sir NNP NNP
James NNP NNP
's POS POS
acquisition NN NN
vehicle NN NN
. . .
<s>
Of IN IN
the DT DT
total JJ JJ
$ $ $
5.5 CD CD
billion CD CD
to TO TO
be VB VB
paid VBN VBN
to TO TO
Hoylake NNP NNP
by IN IN
Axa NNP NNP
, , ,
about IN IN
$ $ $
1 CD CD
billion CD CD
will MD MD
come VB VB
from IN IN
available JJ JJ
resources NNS NNS
of IN IN
Axa NNP NNP
's POS POS
parent NN NN
, , ,
Axa-Midi NNP NNP
Group NNP NNP
, , ,
$ $ $
2.25 CD CD
billion CD CD
will MD MD
be VB VB
in IN IN
the DT DT
form NN NN
of IN IN
notes NNS NNS
issued VBN VBN
by IN IN
Axa NNP NNP
, , ,
and CC CC
the DT DT
remaining VBG VBG
$ $ $
2.25 CD CD
billion CD CD
will MD MD
be VB VB
in IN IN
long-term JJ JJ
bank NN NN
loans NNS NNS
. . .
<s>
In IN IN
an DT DT
interview NN NN
Thursday NNP NNP
, , ,
Claude NNP NNP
Bebear NNP NNP
, , ,
chairman NN NN
and CC CC
chief JJ NN
executive JJ JJ
officer NN NN
of IN IN
Axa NNP NNP
, , ,
said VBD VBD
his PRP$ PRP$
group NN NN
has VBZ VBZ
already RB RB
obtained VBN VBN
assurances NNS NNS
from IN IN
a DT DT
group NN NN
of IN IN
banks NNS NNS
led VBN VBN
by IN IN
Cie NNP NNP
. . .
<s>
Financiere NNP NNP
de NNP NNP
Paribas NNP NNP
that IN IN
they PRP PRP
can MD MD
provide VB VB
the DT DT
loan NN NN
portion NN NN
of IN IN
the DT DT
financing NN NN
. . .
<s>
The DT DT
other JJ JJ
banking NN VBG
companies NNS NNS
in IN IN
the DT DT
group NN NN
are VBP VBP
Credit NNP NNP
Lyonnais NNP NNP
, , ,
Societe NNP NNP
Generale NNP NNP
, , ,
BankAmerica NNP NNP
Corp. NNP NNP
and CC CC
Citicorp NNP NNP
, , ,
he PRP PRP
said VBD VBD
. . .
<s>
Mr. NNP NNP
Bebear NNP NNP
said VBD VBD
Axa-Midi NNP NNP
Group NNP NNP
has VBZ VBZ
`` `` ``
more JJR RBR
than IN IN
$ $ $
2.5 CD CD
billion CD CD
of IN IN
non-strategic JJ JJ
assets NNS NNS
that IN IN
we PRP PRP
can MD MD
and CC CC
will MD MD
sell VB VB
'' '' ''
to TO TO
help VB VB
pay VB VB
off RP RP
debt NN NN
from IN IN
the DT DT
acquisition NN NN
. . .
<s>
He PRP PRP
said VBD VBD
the DT DT
assets NNS NNS
to TO TO
be VB VB
sold VBN VBN
would MD MD
be VB VB
`` `` ``
non-insurance JJ NN
'' '' ''
assets NNS NNS
, , ,
including VBG VBG
a DT DT
beer NN NN
company NN NN
and CC CC
a DT DT
real JJ JJ
estate NN NN
firm NN NN
, , ,
and CC CC
would MD MD
n't RB RB
include VB VB
any DT DT
pieces NNS NNS
of IN IN
Farmers NNP NNPS
. . .
<s>
`` `` ``
We PRP PRP
wo MD MD
n't RB RB
put VB VB
any DT DT
burden NN NN
on IN IN
Farmers NNP NNPS
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
The DT DT
amended VBN VBN
filings NNS NNS
also RB RB
point VBP VBP
out RP RP
that IN DT
under IN IN
a DT DT
new JJ JJ
agreement NN NN
, , ,
Hoylake NNP NNP
has VBZ VBZ
an DT DT
absolute JJ JJ
obligation NN NN
to TO TO
sell VB VB
Farmers NNP NNPS
to TO TO
Axa NNP NNP
upon IN IN
an DT DT
acquisition NN NN
of IN IN
B.A.T NNP NNP
. . .
<s>
`` `` ``
We PRP PRP
hope VBP VBP
that IN DT
with IN IN
what WP WP
we PRP PRP
did VBD VBD
, , ,
the DT DT
regulators NNS NNS
will MD MD
not RB RB
need VB VB
to TO TO
evaluate VB VB
Hoylake NNP NNP
, , ,
and CC CC
they PRP PRP
can MD MD
directly RB RB
look VB VB
at IN IN
the DT DT
agreement NN NN
with IN IN
us PRP PRP
, , ,
because IN IN
Hoylake NNP NNP
wo MD MD
n't RB RB
be VB VB
an DT DT
owner NN NN
of IN IN
Farmers NNP NNPS
at IN IN
anytime RB RB
, , ,
'' '' ''
Mr. NNP NNP
Bebear NNP NNP
said VBD VBD
. . .
<s>
Any DT DT
change NN NN
of IN IN
control NN NN
in IN IN
Farmers NNP NNPS
needs VBZ VBZ
approval NN NN
of IN IN
the DT DT
insurance NN NN
commissioners NNS NNS
in IN IN
the DT DT
nine CD CD
states NNS NNS
where WRB WRB
Farmers NNP NNPS
and CC CC
its PRP$ PRP$
related JJ VBN
companies NNS NNS
are VBP VBP
incorporated VBN VBN
. . .
<s>
The DT DT
amended VBN VBN
filings NNS NNS
were VBD VBD
required VBN VBN
because IN IN
of IN IN
the DT DT
new JJ JJ
agreement NN NN
between IN IN
Axa NNP NNP
and CC CC
Hoylake NNP NNP
, , ,
and CC CC
to TO TO
reflect VB VB
the DT DT
extension NN NN
that IN IN
Sir NNP NNP
James NNP NNP
received VBD VBD
last JJ JJ
month NN NN
under IN IN
British JJ JJ
takeover NN NN
rules NNS NNS
to TO TO
complete VB VB
his PRP$ PRP$
proposed JJ VBN
acquisition NN NN
. . .
<s>
Hoylake NNP NNP
dropped VBD VBD
its PRP$ PRP$
initial JJ JJ
# # #
13.35 CD CD
billion CD CD
( ( (
$ $ $
20.71 CD CD
billion CD CD
) ) )
takeover NN NN
bid NN NN
after IN IN
it PRP PRP
received VBD VBD
the DT DT
extension NN NN
, , ,
but CC CC
said VBD VBD
it PRP PRP
would MD MD
launch VB VB
a DT DT
new JJ JJ
bid NN NN
if IN IN
and CC CC
when WRB WRB
the DT DT
propsed : VBN
sale NN NN
of IN IN
Farmers NNP NNPS
to TO TO
Axa NNP NNP
receives VBZ VBZ
regulatory JJ JJ
approval NN NN
. . .
<s>
A DT DT
spokesman NN NN
for IN IN
B.A.T NNP NNP
said VBD VBD
of IN IN
the DT DT
amended VBN VBN
filings NNS NNS
that IN IN
, , ,
`` `` ``
It PRP PRP
would MD MD
appear VB VB
that IN IN
nothing NN NN
substantive JJ JJ
has VBZ VBZ
changed VBN VBN
. . .
<s>
The DT DT
new JJ JJ
financing NN NN
structure NN NN
is VBZ VBZ
still RB RB
a DT DT
very-highly RB JJ
leveraged JJ JJ
one CD CD
, , ,
and CC CC
Axa NNP NNP
still RB RB
plans VBZ VBZ
to TO TO
take VB VB
out RP RP
75 CD CD
% NN NN
of IN IN
Farmers NNP NNPS
' POS POS
earnings NNS NNS
as IN IN
dividends NNS NNS
to TO TO
service VB VB
their PRP$ PRP$
debt NN NN
. . .
<s>
'' '' ''
That DT DT
dividend NN NN
is VBZ VBZ
almost RB RB
double RB RB
the DT DT
35 CD CD
% NN NN
currently RB RB
taken VBN VBN
out IN IN
of IN IN
Farmers NNP NNPS
by IN IN
B.A.T NNP NNP
, , ,
the DT DT
spokesman NN NN
added VBD VBD
. . .
<s>
`` `` ``
It PRP PRP
would MD MD
have VB VB
severe JJ JJ
implications NNS NNS
for IN IN
Farmers NNP NNPS
' POS POS
policy NN NN
holders NNS NNS
. . .
<s>
'' '' ''
To TO TO
fend VB VB
off RP RP
Sir NNP NNP
James NNP NNP
's POS POS
advances NNS NNS
, , ,
B.A.T NNP NNP
has VBZ VBZ
proposed VBN VBN
a DT DT
sweeping JJ JJ
restructuring NN NN
that WDT WDT
would MD MD
pare VB VB
it PRP PRP
to TO TO
a DT DT
tobacco NN NN
and CC CC
financial JJ JJ
services NNS NNS
concern NN NN
. . .
<s>
Dismal JJ JJ
sales NNS NNS
at IN IN
General NNP NNP
Motors NNPS NNPS
Corp. NNP NNP
dragged VBD VBD
the DT DT
U.S. NNP NNP
car NN NN
and CC CC
truck NN NN
market NN NN
down RB IN
below IN IN
year-ago JJ JJ
levels NNS NNS
in IN IN
early JJ JJ
October NNP NNP
, , ,
the DT DT
first JJ JJ
sales NNS NNS
period NN NN
of IN IN
the DT DT
1990 CD CD
model NN NN
year NN NN
. . .
<s>
The DT DT
eight CD CD
major JJ JJ
domestic JJ JJ
auto NN NN
makers NNS NNS
sold VBD VBD
160,510 CD CD
North NNP NNP
American-made JJ JJ
cars NNS NNS
in IN IN
the DT DT
first JJ JJ
10 CD CD
days NNS NNS
of IN IN
October NNP NNP
, , ,
a DT DT
12.6 CD CD
% NN NN
drop NN NN
from IN IN
a DT DT
year NN NN
earlier RBR RBR
. . .
<s>
Domestically RB RB
built VBN VBN
truck NN NN
sales NNS NNS
were VBD VBD
down RB IN
10.4 CD CD
% NN NN
to TO TO
86,555 CD CD
pickups NNS NNS
, , ,
vans NNS NNS
and CC CC
sport NN NN
utility NN NN
vehicles NNS NNS
. . .
<s>
The DT DT
heavy JJ JJ
use NN NN
of IN IN
incentives NNS NNS
to TO TO
clear VB VB
out RP RP
1989 CD CD
models NNS NNS
appears VBZ VBZ
to TO TO
have VB VB
taken VBN VBN
the DT DT
steam NN NN
, , ,
at IN IN
least JJS JJS
initially RB RB
, , ,
out IN IN
of IN IN
1990 CD CD
model NN NN
sales NNS NNS
, , ,
which WDT WDT
began VBD VBD
officially RB RB
Oct. NNP NNP
1 CD CD
. . .
<s>
This DT DT
appears VBZ VBZ
particularly RB RB
true JJ JJ
at IN IN
GM NNP NNP
, , ,
which WDT WDT
had VBD VBD
strong JJ JJ
sales NNS NNS
in IN IN
August NNP NNP
and CC CC
September NNP NNP
but CC CC
saw VBD VBD
its PRP$ PRP$
early JJ JJ
October NNP NNP
car NN NN
and CC CC
truck NN NN
results NNS NNS
fall VBP VB
26.3 CD CD
% NN NN
from IN IN
last JJ JJ
year NN NN
's POS POS
unusually RB RB
high JJ JJ
level NN NN
. . .
<s>
Overall RB RB
, , ,
sales NNS NNS
of IN IN
all DT DT
domestic-made JJ JJ
vehicles NNS NNS
fell VBD VBD
11.9 CD CD
% NN NN
from IN IN
a DT DT
year NN NN
ago RB IN
. . .
<s>
Without IN IN
GM NNP NNP
, , ,
overall JJ JJ
sales NNS NNS
for IN IN
the DT DT
other JJ JJ
U.S. NNP NNP
automakers NNS NNS
were VBD VBD
roughly RB RB
flat JJ JJ
with IN IN
1989 CD CD
results NNS NNS
. . .
<s>
Some DT DT
of IN IN
the DT DT
U.S. NNP NNP
auto NN NN
makers NNS NNS
have VBP VBP
already RB RB
adopted VBN VBN
incentives NNS NNS
on IN IN
many JJ JJ
1990 CD CD
models NNS NNS
, , ,
but CC CC
they PRP PRP
may MD MD
have VB VB
to TO TO
broaden VB VB
their PRP$ PRP$
programs NNS NNS
to TO TO
keep VB VB
sales NNS NNS
up IN IN
. . .
<s>
`` `` ``
We PRP PRP
've VBP VBP
created VBN VBN
a DT DT
condition NN NN
where WRB WRB
, , ,
without IN IN
incentives NNS NNS
, , ,
it PRP PRP
's VBZ VBZ
a DT DT
tough JJ JJ
market NN NN
, , ,
'' '' ''
said VBD VBD
Tom NNP NNP
Kelly NNP NNP
, , ,
sales NNS NNS
manager NN NN
for IN IN
Bill NNP NNP
Wink NNP NNP
Chevrolet NNP NNP
in IN IN
Dearborn NNP NNP
, , ,
Mich NNP NNP
. . .
<s>
Car NN NN
sales NNS NNS
fell VBD VBD
to TO TO
a DT DT
seasonally RB RB
adjusted VBN VBN
annual JJ JJ
selling NN VBG
rate NN NN
of IN IN
5.8 CD CD
million CD CD
vehicles NNS NNS
, , ,
the DT DT
lowest JJS JJS
since IN IN
October NNP NNP
1987 CD CD
. . .
<s>
The DT DT
poor JJ JJ
performance NN NN
contrasts VBZ VBZ
with IN IN
a DT DT
robust JJ JJ
selling NN NN
rate NN NN
of IN IN
almost RB RB
eight CD CD
million CD CD
last JJ JJ
month NN NN
. . .
<s>
Furthermore RB RB
, , ,
dealers NNS NNS
contacted VBD VBD
late RB JJ
last JJ JJ
week NN NN
said VBD VBD
they PRP PRP
could MD MD
n't RB RB
see VB VB
any DT DT
immediate JJ JJ
impact NN NN
on IN IN
sales NNS NNS
of IN IN
Friday NNP NNP
's POS POS
steep JJ JJ
market NN NN
decline NN NN
. . .
<s>
GM NNP NNP
's POS POS
domestic JJ JJ
car NN NN
sales NNS NNS
dropped VBD VBD
24.3 CD CD
% NN NN
and CC CC
its PRP$ PRP$
domestic JJ JJ
trucks NNS NNS
were VBD VBD
down RB IN
an DT DT
even RB RB
steeper JJR JJR
28.7 CD CD
% NN NN
from IN IN
the DT DT
same JJ JJ
period NN NN
a DT DT
year NN NN
ago RB IN
. . .
<s>
All DT DT
of IN IN
the DT DT
GM NNP NNP
divisions NNS NNS
except IN IN
Cadillac NNP NNP
showed VBD VBD
big JJ JJ
declines NNS NNS
. . .
<s>
Cadillac NN NNP
posted VBD VBD
a DT DT
3.2 CD CD
% NN NN
increase NN NN
despite IN IN
new JJ JJ
competition NN NN
from IN IN
Lexus NNP NNP
, , ,
the DT DT
fledging : VBG
luxury-car NN NN
division NN NN
of IN IN
Toyota NNP NNP
Motor NNP NNP
Corp NNP NNP
. . .
<s>
Lexus NNP NNP
sales NNS NNS
were VBD VBD
n't RB RB
available JJ JJ
; : :
the DT DT
cars NNS NNS
are VBP VBP
imported VBN VBN
and CC CC
Toyota NNP NNP
reports VBZ VBZ
their PRP$ PRP$
sales NNS NNS
only RB RB
at IN IN
month-end : NN
. . .
<s>
The DT DT
sales NNS NNS
drop NN VBP
for IN IN
the DT DT
No. NN NN
1 CD CD
car NN NN
maker NN NN
may MD MD
have VB VB
been VBN VBN
caused VBN VBN
in IN IN
part NN NN
by IN IN
the DT DT
end NN NN
in IN IN
September NNP NNP
of IN IN
dealer NN NN
incentives NNS NNS
that IN IN
GM NNP NNP
offered VBD VBD
in IN IN
addition NN NN
to TO TO
consumer NN NN
rebates NNS NNS
and CC CC
low-interest JJ JJ
financing NN NN
, , ,
a DT DT
company NN NN
spokesman NN NN
said VBD VBD
. . .
<s>
Last JJ JJ
year NN NN
, , ,
GM NNP NNP
had VBD VBD
a DT DT
different JJ JJ
program NN NN
in IN IN
place NN NN
that WDT WDT
continued VBD VBD
rewarding JJ JJ
dealers NNS NNS
until IN IN
all PDT PDT
the DT DT
1989 CD CD
models NNS NNS
had VBD VBD
been VBN VBN
sold VBN VBN
. . .
<s>
Aside RB RB
from IN IN
GM NNP NNP
, , ,
other JJ JJ
car NN NN
makers NNS NNS
posted VBD VBD
generally RB RB
mixed VBN VBN
results NNS NNS
. . .
<s>
Ford NNP NNP
Motor NNP NNP
Co. NNP NNP
had VBD VBD
a DT DT
1.8 CD CD
% NN NN
drop NN NN
in IN IN
domestic JJ JJ
car NN NN
sales NNS NNS
but CC CC
a DT DT
2.4 CD CD
% NN NN
increase NN NN
in IN IN
domestic JJ JJ
truck NN NN
sales NNS NNS
. . .
<s>
Chrysler NNP NNP
Corp. NNP NNP
had VBD VBD
a DT DT
7.5 CD CD
% NN NN
drop NN NN
in IN IN
car NN NN
sales NNS NNS
, , ,
echoing VBG VBG
its PRP$ PRP$
generally RB RB
slow JJ JJ
performance NN NN
all DT DT
year NN NN
. . .
<s>
However RB RB
, , ,
sales NNS NNS
of IN IN
trucks NNS NNS
, , ,
including VBG VBG
the DT DT
company NN NN
's POS POS
popular JJ JJ
minivans NNS NNS
, , ,
rose VBD VBD
4.3 CD CD
% NN NN
. . .
<s>
Honda NNP NNP
Motor NNP NNP
Co. NNP NNP
's POS POS
sales NNS NNS
of IN IN
domestically RB RB
built VBN VBN
vehicles NNS NNS
plunged VBD VBD
21.7 CD CD
% NN NN
from IN IN
a DT DT
year NN NN
earlier RBR RBR
. . .
<s>
Honda NNP NNP
's POS POS
plant NN NN
in IN IN
Marysville NNP NNP
, , ,
Ohio NNP NNP
, , ,
was VBD VBD
gearing VBG VBG
up RP RP
to TO TO
build VB VB
1990 CD CD
model NN NN
Accords NNPS NNPS
, , ,
a DT DT
Honda NNP NNP
spokesman NN NN
said VBD VBD
. . .
<s>
`` `` ``
We PRP PRP
're VBP VBP
really RB RB
confident JJ JJ
everything NN NN
will MD MD
bounce VB VB
back RB RB
to TO TO
normal JJ JJ
, , ,
'' '' ''
he PRP PRP
added VBD VBD
. . .
<s>
Separately RB RB
, , ,
Chrysler NNP NNP
said VBD VBD
firm NN JJ
prices NNS NNS
on IN IN
its PRP$ PRP$
1990-model JJ JJ
domestic JJ JJ
cars NNS NNS
and CC CC
minivans NNS NNS
will MD MD
rise VB VB
an DT DT
average NN NN
of IN IN
5 CD CD
% NN NN
over IN IN
comparably RB RB
equipped VBN VBN
1989 CD CD
models NNS NNS
. . .
<s>
Firm NN JJ
prices NNS NNS
were VBD VBD
generally RB RB
in IN IN
line NN NN
with IN IN
the DT DT
tentative JJ JJ
prices NNS NNS
announced VBD VBD
earlier RBR RBR
this DT DT
fall NN NN
. . .
<s>
At IN IN
that DT DT
time NN NN
, , ,
Chrysler NNP NNP
said VBD VBD
base NN NN
prices NNS NNS
, , ,
which WDT WDT
are VBP VBP
n't RB RB
adjusted VBN VBN
for IN IN
equipment NN NN
changes NNS NNS
, , ,
would MD MD
rise VB VB
between IN IN
4 CD CD
% NN NN
and CC CC
9 CD CD
% NN NN
on IN IN
most JJS JJS
vehicle NN NN
. . .
<s>
a DT SYM
- : :
Totals NNS NNS
include VBP VBP
only JJ JJ
vehicle NN NN
sales NNS NNS
reported VBN VBN
in IN IN
period NN NN
. . .
<s>
c SYM SYM
- : :
Domestic JJ JJ
car NN NN
d SYM SYM
- : :
Percentage NN NN
change NN NN
is VBZ VBZ
greater JJR JJR
than IN IN
999 CD CD
% NN NN
. . .
<s>
x SYM SYM
- : :
There EX EX
were VBD VBD
8 CD CD
selling NN VBG
days NNS NNS
in IN IN
the DT DT
most RBS RBS
recent JJ JJ
period NN NN
and CC CC
8 CD CD
a DT DT
year NN NN
earlier RBR RBR
. . .
<s>
Percentage NN NN
differences NNS NNS
based VBN VBN
on IN IN
daily JJ JJ
sales NNS NNS
rate NN NN
rather RB RB
than IN IN
sales NNS NNS
volume NN NN
. . .
<s>
Antonio NNP NNP
L. NNP NNP
Savoca NNP NNP
, , ,
66 CD CD
years NNS NNS
old JJ JJ
, , ,
was VBD VBD
named VBN VBN
president NN NN
and CC CC
chief JJ NN
executive JJ JJ
officer NN NN
of IN IN
the DT DT
Atlantic NNP NNP
Research NNP NNP
Corp. NNP NNP
subsidiary NN NN
. . .
<s>
Mr. NNP NNP
Savoca NNP NNP
had VBD VBD
been VBN VBN
a DT DT
consultant NN NN
to TO TO
the DT DT
subsidiary NN NN
's POS POS
rocket-propulsion NN NN
operations NNS NNS
. . .
<s>
Mr. NNP NNP
Savoca NNP NNP
succeeds VBZ VBZ
William NNP NNP
H. NNP NNP
Borten NNP NNP
, , ,
who WP WP
resigned VBD VBD
to TO TO
pursue VB VB
personal JJ JJ
interests NNS NNS
. . .
<s>
Sequa NNP NNP
makes VBZ VBZ
and CC CC
repairs NNS VBZ
jet VBP NN
engines NNS NNS
. . .
<s>
It PRP PRP
also RB RB
has VBZ VBZ
interests NNS NNS
in IN IN
military JJ JJ
electronics NNS NNS
and CC CC
electro-optics NNS NNS
, , ,
marine JJ JJ
transportation NN NN
and CC CC
machinery NN NN
used VBN VBN
to TO TO
make VB VB
food NN NN
and CC CC
beverage NN NN
cans NNS NNS
. . .
<s>
It PRP PRP
was VBD VBD
n't RB RB
so RB RB
long RB JJ
ago RB IN
that IN IN
a DT DT
radio NN NN
network NN NN
funded VBN VBN
by IN IN
the DT DT
U.S. NNP NNP
Congress NNP NNP
-- : :
and CC CC
originally RB RB
by IN IN
the DT DT
Central NNP NNP
Intelligence NNP NNP
Agency NNP NNP
-- : :
was VBD VBD
accused VBN VBN
by IN IN
officials NNS NNS
here RB RB
of IN IN
employing VBG VBG
propagandists NNS NNS
, , ,
imperialists NNS NNS
and CC CC
spies NNS NNS
. . .
<s>
Now RB RB
, , ,
the DT DT
network NN NN
has VBZ VBZ
opened VBN VBN
a DT DT
news NN NN
bureau NN NN
in IN IN
the DT DT
Hungarian JJ JJ
capital NN NN
. . .
<s>
Employees NNS NNS
held VBD VBD
an DT DT
open JJ JJ
house NN NN
to TO TO
celebrate VB VB
and CC CC
even RB RB
hung VBD VBD
out RP RP
a DT DT
sign NN NN
: : :
`` `` ``
Szabad NNP NNP
Europa NNP NNP
Radio NNP NNP
'' '' ''
-- : :
Radio NNP NNP
Free NNP NNP
Europe NNP NNP
. . .
<s>
`` `` ``
I PRP PRP
think VBP VBP
this DT DT
is VBZ VBZ
a DT DT
victory NN NN
for IN IN
the DT DT
radio NN NN
, , ,
'' '' ''
says VBZ VBZ
Barnabas NNP NNP
de FW NNP
Bueky NNP NNP
, , ,
a DT DT
55-year-old JJ JJ
former JJ JJ
Hungarian JJ JJ
refugee NN NN
who WP WP
works VBZ VBZ
in IN IN
the DT DT
Munich NNP NNP
, , ,
West NNP NNP
Germany NNP NNP
, , ,
headquarters NN NN
as IN IN
deputy NN JJ
director NN NN
of IN IN
the DT DT
Hungarian JJ JJ
service NN NN
. . .
<s>
In IN IN
fact NN NN
, , ,
the DT DT
network NN NN
hopes VBZ VBZ
to TO TO
set VB VB
up RP RP
offices NNS NNS
in IN IN
Warsaw NNP NNP
and CC CC
anywhere RB RB
else RB RB
in IN IN
the DT DT
East NNP NNP
Bloc NNP NNP
that WDT WDT
will MD MD
have VB VB
it PRP PRP
. . .
<s>
But CC CC
the DT DT
rapid JJ JJ
changes NNS NNS
brought VBN VBD
on IN RP
by IN IN
glasnost NN NN
and CC CC
open JJ JJ
borders NNS NNS
are VBP VBP
altering VBG VBG
the DT DT
network NN NN
's POS POS
life NN NN
in IN IN
more JJR JJR
ways NNS NNS
than IN IN
one CD CD
. . .
<s>
In IN IN
fact NN NN
, , ,
Radio NNP NNP
Free NNP NNP
Europe NNP NNP
is VBZ VBZ
in IN IN
danger NN NN
of IN IN
suffering VBG VBG
from IN IN
its PRP$ PRP$
success NN NN
. . .
<s>
While IN IN
the DT DT
network NN NN
currently RB RB
can MD MD
operate VB VB
freely RB RB
in IN IN
Budapest NNP NNP
, , ,
so RB RB
can MD MD
others NNS NNS
. . .
<s>
In IN IN
addition NN NN
, , ,
competition NN NN
for IN IN
listeners NNS NNS
is VBZ VBZ
getting VBG VBG
tougher JJR JJR
in IN IN
many JJ JJ
ways NNS NNS
than IN IN
when WRB WRB
broadcasting NN NN
here RB RB
was VBD VBD
strictly RB RB
controlled VBN VBN
. . .
<s>
Instead RB RB
of IN IN
being VBG VBG
denounced VBN VBN
as IN IN
an DT DT
evil JJ JJ
agent NN NN
of IN IN
imperialism NN NN
, , ,
Radio NNP NNP
Free NNP NNP
Europe NNP NNP
is VBZ VBZ
more RBR RBR
likely JJ JJ
to TO TO
draw VB VB
the DT DT
criticism NN NN
that IN IN
its PRP$ PRP$
programs NNS NNS
are VBP VBP
too RB RB
tame JJ JJ
, , ,
even RB RB
boring VBG JJ
. . .
<s>
`` `` ``
They PRP PRP
have VBP VBP
a DT DT
lot NN NN
to TO TO
do VB VB
these DT DT
days NNS NNS
to TO TO
compete VB VB
with IN IN
Hungarian JJ JJ
radio NN NN
, , ,
'' '' ''
says VBZ VBZ
Andrew NNP NNP
Deak NNP NNP
, , ,
a DT DT
computer-science JJ NN
student NN NN
at IN IN
the DT DT
Technical NNP NNP
University NNP NNP
in IN IN
Budapest NNP NNP
. . .
<s>
`` `` ``
The DT DT
Hungarian JJ NNP
( ( (
radio NN NN
) ) )
reporters NNS NNS
seem VBP VBP
better RBR RB
informed JJ VBN
and CC CC
more RBR RBR
critical JJ JJ
about IN IN
about IN IN
what WP WP
's VBZ VBZ
going VBG VBG
on IN RP
here RB RB
. . .
<s>
'' '' ''
Indeed RB RB
, , ,
Hungary NNP NNP
is VBZ VBZ
in IN IN
the DT DT
midst NN NN
of IN IN
a DT DT
media NNS NNS
explosion NN NN
. . .
<s>
Boys NNS NNS
on IN IN
busy JJ JJ
street NN NN
corners NNS NNS
peddle VB VBP
newspapers NNS NNS
of IN IN
every DT DT
political JJ JJ
stripe NN NN
. . .
<s>
Newsstands NNS NNS
are VBP VBP
packed VBN VBN
with IN IN
a DT DT
colorful JJ JJ
array NN NN
of IN IN
magazines NNS NNS
. . .
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and CC CC
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. . .
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and CC CC
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of IN IN
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over IN IN
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only RB RB
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in IN IN
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. . .
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in IN IN
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and CC CC
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, , ,
while IN IN
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about IN IN
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its PRP$ PRP$
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for IN IN
free JJ JJ
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's POS POS
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to TO TO
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in IN IN
Hungary NNP NNP
and CC CC
in IN IN
the DT DT
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. . .
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station NN NN
for IN IN
the DT DT
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say VBP VBP
they PRP PRP
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their PRP$ PRP$
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than IN IN
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hours NNS NNS
of IN IN
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broadcasts NNS NNS
. . .
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are VBP VBP
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an DT DT
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of IN IN
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for IN IN
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listeners NNS NNS
in IN IN
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tongues NNS NNS
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. . .
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of IN IN
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in IN IN
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shows VBZ VBZ
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of IN IN
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of IN IN
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changes NNS NNS
in IN IN
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. . .
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before IN IN
the DT DT
decision NN NN
by IN IN
the DT DT
Hungarian JJ NNP
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to TO TO
rename VB VB
itself PRP PRP
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and CC CC
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to TO TO
look VB VB
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to TO TO
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the DT DT
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's POS POS
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more RBR RBR
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. . .
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It PRP PRP
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a DT DT
perfect JJ JJ
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for IN IN
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to TO TO
ask VB VB
for IN IN
permission NN NN
to TO TO
set VB VB
up RP RP
office NN NN
. . .
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Not RB RB
only RB RB
did VBD VBD
the DT DT
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of IN IN
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approve VBP VB
Radio NNP NNP
Free NNP NNP
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's POS POS
new JJ JJ
location NN NN
, , ,
but CC CC
the DT DT
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of IN IN
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did VBD VBD
something NN NN
even RB RB
more RBR RBR
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: : :
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us PRP PRP
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phone NN NN
lines NNS NNS
in IN IN
central JJ JJ
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says VBZ VBZ
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a DT DT
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who WP WP
helped VBD VBD
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the DT DT
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is VBZ VBZ
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. . .
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'' '' ''
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far RB JJ
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from IN IN
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of IN IN
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, , ,
which WDT WDT
had VBD VBD
to TO TO
overcome VB VB
jamming : NN
of IN IN
its PRP$ PRP$
frequencies NNS NNS
and CC CC
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of IN IN
local JJ JJ
correspondents NNS NNS
( ( (
who WP WP
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reports NNS NNS
to TO TO
the DT DT
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by IN IN
phone NN NN
, , ,
secret JJ JJ
messengers NNS NNS
or CC CC
letters NNS NNS
) ) )
. . .
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In IN IN
fact NN NN
, , ,
some DT DT
of IN IN
the DT DT
network NN NN
's POS POS
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listeners NNS NNS
say VBP VBP
they PRP PRP
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Free NNP NNP
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because IN IN
it PRP PRP
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responsible JJ JJ
in IN IN
many JJ JJ
ways NNS NNS
for IN IN
keeping VBG VBG
hope NN NN
alive RB JJ
through IN IN
what WP WP
one CD CD
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here RB RB
calls VBZ VBZ
the DT DT
`` `` ``
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of IN IN
the DT DT
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. . .
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'' '' ''
`` `` ``
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the DT DT
past JJ JJ
four CD CD
years NNS NNS
, , ,
many JJ JJ
of IN IN
us PRP PRP
have VBP VBP
sat VBN VBN
up RP IN
until IN IN
late RB JJ
at IN IN
night NN NN
listening VBG VBG
to TO TO
our PRP$ PRP$
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, , ,
'' '' ''
says VBZ VBZ
the DT DT
writer NN NN
. . .
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`` `` ``
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were VBD VBD
some DT DT
very RB RB
brave VB JJ
broadcasts NNS NNS
. . .
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'' '' ''
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listeners NNS NNS
, , ,
too RB RB
, , ,
had VBD VBD
to TO TO
be VB VB
brave VB JJ
. . .
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Through IN IN
much JJ JJ
of IN IN
the DT DT
post-World NNP NNP
War NNP NNP
II NNP NNP
period NN NN
, , ,
listening VBG VBG
to TO TO
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broadcasts NNS NNS
was VBD VBD
a DT DT
crime NN NN
in IN IN
Hungary NNP NNP
. . .
<s>
`` `` ``
When WRB WRB
we PRP PRP
listen VBP VBP
to TO TO
the DT DT
Europe NNP NNP
station NN NN
, , ,
my PRP$ PRP$
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still RB RB
gets VBZ VBZ
nervous JJ JJ
, , ,
'' '' ''
says VBZ VBZ
a DT DT
Budapest NNP NNP
translator NN NN
. . .
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`` `` ``
She PRP PRP
wants VBZ VBZ
to TO TO
turn VB VB
down RP RP
the DT DT
volume NN NN
and CC CC
close VB VB
the DT DT
curtains NNS NNS
. . .
<s>
'' '' ''
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, , ,
the DT DT
toughest JJS JJS
competition NN NN
for IN IN
Radio NNP NNP
Free NNP NNP
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comes VBZ VBZ
during IN IN
the DT DT
late-night JJ JJ
slot NN NN
. . .
<s>
Hungarian JJ JJ
radio NN NN
often RB RB
saves VBZ VBZ
its PRP$ PRP$
most RBS RBS
politically RB RB
outspoken JJ JJ
broadcasts NNS NNS
for IN IN
around IN IN
midnight NN NN
. . .
<s>
Television NNP NN
, , ,
which WDT WDT
most JJS JJS
of IN IN
the DT DT
time NN NN
is VBZ VBZ
considered VBN VBN
rather RB RB
tame JJ JJ
, , ,
has VBZ VBZ
entered VBN VBN
the DT DT
running VBG VBG
with IN IN
a DT DT
new JJ JJ
program NN NN
, , ,
`` `` ``
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End NNP NNP
of IN IN
the DT DT
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, , ,
'' '' ''
which WDT WDT
comes VBZ VBZ
on IN RP
after IN IN
11 CD CD
p.m RB RB
. . .
<s>
It PRP PRP
is VBZ VBZ
a DT DT
talk NN NN
show NN NN
with IN IN
opposition NN NN
leaders NNS NNS
and CC CC
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experts NNS NNS
who WP WP
discuss VB VBP
Hungary NNP NNP
's POS POS
domestic JJ JJ
problems NNS NNS
as RB RB
well RB RB
as IN IN
foreign JJ JJ
affairs NNS NNS
. . .
<s>
Those DT DT
who WP WP
want VBP VBP
to TO TO
hear VB VB
even RB RB
more RBR RBR
radical JJ JJ
views NNS NNS
have VBP VBP
to TO TO
get VB VB
up RP RB
at IN IN
five CD CD
on IN IN
Sunday NNP NNP
morning NN NN
for IN IN
`` `` ``
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Journal NNP NNP
, , ,
'' '' ''
on IN IN
Hungarian JJ NNP
Radio NNP NNP
. . .
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The DT DT
competitive JJ JJ
spirit NN NN
is VBZ VBZ
clearly RB RB
influencing VBG VBG
Radio NNP NNP
Free NNP NNP
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, , ,
which WDT WDT
is VBZ VBZ
trying VBG VBG
to TO TO
beef VB VB
up RP RP
programs NNS NNS
. . .
<s>
The DT DT
Budapest NNP NNP
office NN NN
plans VBZ VBZ
to TO TO
hire VB VB
free-lance JJ JJ
reporters NNS NNS
to TO TO
cover VB VB
the DT DT
latest JJS JJS
happenings NNS NNS
in IN IN
Hungarian JJ JJ
country NN NN
towns NNS NNS
from IN IN
Nagykanizsa NNP NNP
in IN IN
the DT DT
west NN NN
to TO TO
Nyiregyhaza NNP NNP
in IN IN
the DT DT
east JJ JJ
. . .
<s>
The DT DT
Hungarian JJ JJ
service NN NN
has VBZ VBZ
a DT DT
daily JJ JJ
40-minute JJ JJ
news NN NN
show NN NN
called VBN VBN
Newsreel NNP NNP
, , ,
with IN IN
international JJ JJ
and CC CC
domestic JJ JJ
news NN NN
, , ,
plus CC CC
a DT DT
daily JJ JJ
news NN NN
review NN NN
of IN IN
opinions NNS NNS
from IN IN
around IN IN
the DT DT
world NN NN
. . .
<s>
There EX EX
's VBZ VBZ
also RB RB
a DT DT
host NN NN
of IN IN
new JJ JJ
programs NNS NNS
, , ,
trying VBG VBG
to TO TO
lighten VB VB
up RP RP
on IN IN
the DT DT
traditional JJ JJ
diet NN NN
of IN IN
politics NNS NNS
. . .
<s>
A DT DT
daily JJ JJ
35-minute JJ JJ
program NN NN
called VBN VBN
`` `` ``
The DT NNP
March NNP NNP
of IN IN
Time NNP NNP
'' '' ''
tries VBZ VBZ
to TO TO
find VB VB
interesting JJ JJ
tidbits NNS NNS
of IN IN
lighthearted JJ JJ
news NN NN
and CC CC
gossip NN NN
from IN IN
around IN IN
the DT DT
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. . .
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There EX EX
's VBZ VBZ
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program NN NN
for IN IN
women NNS NNS
and CC CC
a DT DT
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show NN NN
. . .
<s>
And CC CC
to TO TO
attract VB VB
younger JJR JJR
listeners NNS NNS
, , ,
Radio NNP NNP
Free NNP NNP
Europe NNP NNP
intersperses VBZ VBZ
the DT DT
latest JJS JJS
in IN IN
Western JJ JJ
rock NN NN
groups NNS NNS
. . .
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The DT DT
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Shop NNP NNP
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are VBP VBP
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this DT DT
year NN NN
in IN IN
Budapest NNP NNP
. . .
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`` `` ``
We PRP PRP
are VBP VBP
starving VBG VBG
for IN IN
all PDT PDT
the DT DT
news NN NN
, , ,
'' '' ''
says VBZ VBZ
Mr. NNP NNP
Deak NNP NNP
, , ,
the DT DT
student NN NN
. . .
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`` `` ``
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we PRP PRP
want VBP VBP
to TO TO
know VB VB
everything NN NN
about IN IN
the DT DT
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. . .
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Proposals NNS NNS
for IN IN
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, , ,
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, , ,
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up RP RP
from IN IN
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to TO TO
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, , ,
depress VBP VBP
the DT DT
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of IN IN
the DT DT
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politic : JJ
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their PRP$ PRP$
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, , ,
and CC CC
seem VBP VBP
to TO TO
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, , ,
only RB RB
to TO TO
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and CC CC
afflict VB VB
public JJ JJ
life NN NN
anew RB RB
. . .
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The DT DT
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metaphor NN NN
comes VBZ VBZ
to TO TO
mind VB NN
, , ,
of IN IN
course NN NN
, , ,
not RB RB
as IN IN
an DT DT
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on IN IN
the DT DT
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of IN IN
national JJ JJ
service NN NN
. . .
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, , ,
it PRP PRP
is VBZ VBZ
born VBN VBN
of IN IN
frustration NN NN
with IN IN
having VBG VBG
to TO TO
combat VB VB
constantly RB RB
changing VBG VBG
strains NNS NNS
of IN IN
a DT DT
statist JJ JJ
idea NN NN
that IN IN
one CD NN
thought NN VBD
had VBD VBD
been VBN VBN
eliminated VBN VBN
in IN IN
the DT DT
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1970s CD CD
, , ,
along IN IN
with IN IN
smallpox : NN
. . .
<s>
It PRP PRP
is VBZ VBZ
back RB RB
with IN IN
us PRP PRP
again RB RB
, , ,
in IN IN
the DT DT
form NN NN
of IN IN
legislation NN NN
to TO TO
pay VB VB
volunteers NNS NNS
under IN IN
a DT DT
`` `` ``
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and CC CC
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, , ,
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a DT DT
proposal NN NN
with IN IN
a DT DT
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at IN IN
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this DT DT
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. . .
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does VBZ VBZ
the DT DT
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coming VBG VBG
back RB RB
? . .
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it PRP PRP
is VBZ VBZ
because IN RB
utopian JJ JJ
nostalgia NN NN
evokes VBZ VBZ
both DT DT
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experience NN NN
and CC CC
the DT DT
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gospel NN NN
. . .
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If IN IN
only RB RB
we PRP PRP
could MD MD
get VB VB
America NNP NNP
's POS POS
wastrel : NN
youth NN NN
into IN IN
at IN IN
least JJS JJS
a DT DT
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uniform NN NN
we PRP PRP
might MD MD
be VB VB
able JJ JJ
to TO TO
teach VB VB
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again RB RB
and CC CC
revive VB VB
the DT DT
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of IN IN
giving VBG VBG
. . .
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of IN IN
a DT DT
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ago RB IN
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service NN NN
was VBD VBD
promoted VBN VBN
as IN IN
a DT DT
way NN NN
of IN IN
curing VBG VBG
the DT DT
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inequities NNS NNS
of IN IN
the DT DT
draft NN NN
-- : :
by IN IN
, , ,
of IN IN
all DT DT
things NNS NNS
, , ,
expanding VBG VBG
the DT DT
draft NN NN
. . .
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of IN IN
us PRP PRP
who WP WP
resisted VBD VBD
the DT DT
idea NN NN
then RB RB
suspect JJ VBP
today NN NN
that IN IN
an DT DT
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of IN IN
government NN NN
service NN NN
for IN IN
all DT DT
young JJ JJ
people NNS NNS
is VBZ VBZ
still RB RB
the DT DT
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aim NN NN
of IN IN
many JJ JJ
national-service JJ JJ
backers NNS NNS
, , ,
despite IN IN
their PRP$ PRP$
protests NNS NNS
that WDT IN
present VBP JJ
plans NNS NNS
contain VBP VBP
no DT DT
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. . .
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Choice NN NN
of IN IN
the DT DT
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in IN IN
the DT DT
1970s NNS CD
seemed VBD VBD
to TO TO
doom NN VB
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service NN NN
as RB RB
much JJ RB
as IN IN
the DT DT
draft NN NN
. . .
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But CC CC
the DT DT
virus NN NN
was VBD VBD
kept VBN VBN
alive JJ JJ
in IN IN
sociology NN NN
departments NNS NNS
until IN IN
a DT DT
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of IN IN
years NNS NNS
ago RB IN
, , ,
when WRB WRB
it PRP PRP
again RB RB
was VBD VBD
let VBN VBN
loose JJ RB
. . .
<s>
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time NN NN
it PRP PRP
attempted VBD VBD
to TO TO
invade VB VB
two CD CD
connected JJ VBN
problems NNS NNS
, , ,
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of IN IN
higher JJR JJR
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and CC CC
the DT DT
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to TO TO
the DT DT
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of IN IN
educational JJ JJ
grants NNS NNS
and CC CC
loans NNS NNS
. . .
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Why WRB WRB
not RB RB
keep VB VB
and CC CC
even RB RB
expand VB VB
the DT DT
loans NNS NNS
and CC CC
grants NNS NNS
, , ,
the DT DT
advocates NNS NNS
reasoned VBD VBD
, , ,
but CC CC
require VB VB
some DT DT
form NN NN
of IN IN
service NN NN
from IN IN
each DT DT
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? . .
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service NN NN
, , ,
moreover RB RB
, , ,
could MD MD
be VB VB
a DT DT
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option NN NN
. . .
<s>
Thus RB RB
, , ,
undoubtedly RB RB
it PRP PRP
was VBD VBD
hoped VBN VBN
that IN IN
the DT DT
new JJ JJ
strain NN NN
of IN IN
national JJ JJ
service NN NN
would MD MD
prove VB VB
contagious JJ JJ
, , ,
infecting VBG VBG
patriotic JJ JJ
conservatives NNS NNS
, , ,
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moderates NNS NNS
, , ,
and CC CC
idealistic JJ JJ
liberals NNS NNS
. . .
<s>
The DT DT
Democratic JJ NNP
Leadership NNP NNP
Council NNP NNP
, , ,
a DT DT
centrist JJ JJ
group NN NN
sponsoring VBG VBG
the DT DT
plan NN NN
, , ,
surely RB RB
thought VBD VBD
it PRP PRP
might MD MD
help VB VB
the DT DT
party NN NN
to TO TO
attract VB VB
support NN NN
, , ,
especially RB RB
among IN IN
college NN NN
students NNS NNS
and CC CC
their PRP$ PRP$
parents NNS NNS
. . .
<s>
A DT DT
provision NN NN
allowing VBG VBG
grants NNS NNS
to TO TO
be VB VB
applied VBN VBN
to TO TO
first-home JJ JJ
purchases NNS NNS
was VBD VBD
added VBN VBN
to TO TO
appeal VB VB
to TO TO
those DT DT
who WP WP
had VBD VBD
had VBN VBN
enough RB RB
of IN IN
schooling NN NN
. . .
<s>
The DT DT
DLC NNP NNP
plan NN NN
envisaged VBD VBN
`` `` ``
volunteers NNS NNS
'' '' ''
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trees NNS NNS
, , ,
emptying VBG VBG
bedpans NNS NNS
, , ,
tutoring VBG VBG
children NNS NNS
, , ,
and CC CC
assisting VBG VBG
librarians NNS NNS
for IN IN
$ $ $
100 CD CD
a DT DT
week NN NN
, , ,
tax NN NN
free JJ JJ
, , ,
plus CC CC
medical JJ JJ
care NN NN
. . .
<s>
With IN IN
a DT DT
tax-free JJ JJ
$ $ $
10,000 CD CD
voucher : NN
payment NN NN
at IN IN
the DT DT
end NN NN
of IN IN
each DT DT
year NN NN
, , ,
the DT DT
volunteers NNS NNS
would MD MD
be VB VB
making VBG VBG
a DT DT
wage NN NN
comparable JJ JJ
to TO TO
$ $ $
17,500 CD CD
a DT DT
year NN NN
. . .
<s>
Mind : VB
you PRP PRP
, , ,
most JJS JJS
of IN IN
`` `` ``
the DT DT
volunteers NNS NNS
'' '' ''
would MD MD
be VB VB
unskilled JJ JJ
17 CD CD
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to TO TO
18-year-olds NNS NNS
, , ,
some DT DT
not RB RB
even RB RB
high JJ JJ
school NN NN
graduates NNS NNS
, , ,
and CC CC
many JJ JJ
saving VBG VBG
money NN NN
by IN IN
living VBG VBG
at IN IN
home NN NN
. . .
<s>
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at IN IN
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up RP IN
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What WP WP
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) ) )
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of IN IN
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in IN IN
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of IN IN
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while IN IN
financial JJ JJ
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to TO TO
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in IN IN
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. . .
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them PRP PRP
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want VBP VBP
to TO TO
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, , ,
we PRP PRP
might MD MD
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in IN IN
other JJ JJ
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of IN IN
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on IN IN
something NN NN
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than IN IN
on IN IN
the DT DT
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of IN IN
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'' '' ''
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provide VB VB
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for IN IN
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students NNS NNS
. . .
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to TO TO
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to TO TO
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by IN IN
creating VBG VBG
a DT DT
GI NNP NNP
Bill NNP NNP
. . .
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in IN IN
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than IN IN
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as IN IN
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and CC CC
cause VB VB
resentment NN NN
among IN IN
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workers NNS NNS
paid VBN VBD
lesser JJR JJR
amounts NNS NNS
to TO TO
do VB VB
the DT DT
same JJ JJ
jobs NNS NNS
. . .
<s>
Will MD MD
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service NN NN
, , ,
in IN IN
the DT DT
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and CC CC
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enough JJ JJ
appeal NN NN
to TO TO
get VB VB
adopted VBN VBN
? . .
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necessarily RB RB
. . .
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show VBP VBP
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, , ,
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support NN NN
for IN IN
some DT DT
vague JJ JJ
concept NN NN
of IN IN
service NN NN
, , ,
but CC CC
the DT DT
bill NN NN
now RB RB
under IN IN
discussion NN NN
lacks VBZ VBZ
any DT DT
passionate JJ JJ
public JJ JJ
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. . .
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Nonetheless RB RB
, , ,
Senate NNP NNP
Democrats NNPS NNP
are VBP VBP
organizing VBG VBG
a DT DT
roll NN NN
of IN IN
supporting VBG VBG
`` `` ``
associations NNS NNS
, , ,
'' '' ''
`` `` ``
societies NNS NNS
'' '' ''
and CC CC
`` `` ``
councils NNS NNS
, , ,
'' '' ''
some DT DT
of IN IN
which WDT WDT
may MD MD
hope VB VB
to TO TO
receive VB VB
the DT DT
paid VBN VBN
`` `` ``
volunteers NNS NNS
. . .
<s>
'' '' ''
So RB IN
far RB RB
, , ,
the DT DT
president NN NN
seems VBZ VBZ
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to TO TO
substitute VB VB
any DT DT
of IN IN
the DT DT
omnibus NN NN
for IN IN
his PRP$ PRP$
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free-standing JJ JJ
proposal NN NN
to TO TO
endow VB VB
a DT DT
`` `` ``
Points : NNPS
of IN IN
Light NNP NNP
'' '' ''
foundation NN NN
with IN IN
$ $ $
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million CD CD
to TO TO
inform VB VB
citizens NNS NNS
of IN IN
all DT DT
ages NNS NNS
and CC CC
exhort NN VB
them PRP PRP
to TO TO
genuine JJ JJ
volunteerism NN NN
. . .
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However RB RB
, , ,
even RB RB
this DT DT
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could MD MD
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if IN IN
the DT DT
White NNP NNP
House NNP NNP
gives VBZ VBZ
in RP RP
to TO TO
congressional JJ JJ
Democratic JJ JJ
pressure NN NN
to TO TO
add VB VB
to TO TO
the DT DT
scope NN NN
of IN IN
the DT DT
president NN NN
's POS POS
initiative NN NN
or CC CC
to TO TO
involve VB VB
the DT DT
independent JJ JJ
foundation NN NN
in IN IN
`` `` ``
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'' '' ''
federal JJ JJ
funds NNS NNS
for IN IN
volunteer NN NN
projects NNS NNS
. . .
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There EX EX
's VBZ VBZ
no DT DT
need NN NN
for IN IN
such JJ JJ
concessions NNS NNS
. . .
<s>
The DT DT
omnibus NN NN
can MD MD
be VB VB
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, , ,
the DT DT
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controlled VBD VBN
, , ,
and CC CC
real JJ JJ
service NN NN
protected VBD VBN
. . .
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National NNP JJ
service NN NN
, , ,
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idea NN NN
, , ,
still RB RB
wo MD MD
n't RB RB
go VB VB
away RB RB
then RB RB
, , ,
of IN IN
course NN NN
, , ,
but CC CC
the DT DT
millions NNS NNS
of IN IN
knee-socked JJ JJ
youth NN NN
performing VBG VBG
works NNS NNS
of IN IN
`` `` ``
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content NN NN
'' '' ''
will MD MD
be VB VB
mobilized VBN VBN
only RB RB
in IN IN
the DT DT
imagination NN NN
of IN IN
their PRP$ PRP$
progenitors NNS NNS
. . .
<s>
Mr. NNP NNP
Chapman NNP NNP
is VBZ VBZ
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at IN IN
the DT DT
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Hudson NNP NNP
Institute NNP NNP
. . .
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This DT DT
article NN NN
is VBZ VBZ
adapted VBN VBN
from IN IN
remarks NNS NNS
at IN IN
a DT DT
Hoover NNP NNP
Institution NNP NNP
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on IN IN
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service NN NN
, , ,
in IN IN
which WDT WDT
Mr. NNP NNP
Szanton NNP NNP
also RB RB
participated VBD VBD
. . .
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Drug NN NNP
Emporium NNP NNP
Inc. NNP NNP
said VBD VBD
Gary NNP NNP
Wilber NNP NNP
, , ,
39 CD CD
years NNS NNS
old JJ JJ
, , ,
who WP WP
had VBD VBD
been VBN VBN
president NN NN
and CC CC
chief NN NN
operating VBG VBG
officer NN NN
for IN IN
the DT DT
past JJ NN
year NN NN
, , ,
was VBD VBD
named VBN VBN
chief JJ NN
executive JJ NN
officer NN NN
of IN IN
this DT DT
drugstore NN NN
chain NN NN
. . .
<s>
He PRP PRP
succeeds VBZ VBZ
his PRP$ PRP$
father NN NN
, , ,
Philip NNP NNP
T. NNP NNP
Wilber NNP NNP
, , ,
who WP WP
founded VBD VBD
the DT DT
company NN NN
and CC CC
remains VBZ VBZ
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. . .
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Robert NNP NNP
E. NNP NNP
Lyons NNP NNP
III NNP NNP
, , ,
39 CD CD
, , ,
who WP WP
headed VBD VBD
the DT DT
company NN NN
's POS POS
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region NN NN
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appointed VBN VBN
president NN NN
and CC CC
chief NN NN
operating VBG VBG
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, , ,
succeeding VBG VBG
Gary NNP NNP
Wilber NNP NNP
. . .
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American NNP NNP
Physicians NNP NNPS
Service NNP NNP
Group NNP NNP
Inc. NNP NNP
said VBD VBD
it PRP PRP
purchased VBD VBD
about IN IN
42 CD CD
% NN NN
of IN IN
Prime NNP NNP
Medical NNP NNP
Services NNPS NNPS
Inc. NNP NNP
for IN IN
about RB IN
$ $ $
5 CD CD
million CD CD
from IN IN
Texas NNP NNP
American NNP NNP
Energy NNP NNP
Corp NNP NNP
. . .
<s>
American NNP NNP
Physicians NNP NNPS
said VBD VBD
it PRP PRP
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replaced VBD VBD
four CD CD
Texas NNP NNP
American NNP NNP
representatives NNS NNS
on IN IN
Prime NNP NNP
's POS POS
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board NN NN
. . .
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American NNP NNP
provides VBZ VBZ
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variety NN NN
of IN IN
financial JJ JJ
services NNS NNS
to TO TO
doctors NNS NNS
and CC CC
hospitals NNS NNS
. . .
<s>
Prime NNP NNP
, , ,
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in IN IN
Bedminster NNP NNP
, , ,
N.J. NNP NNP
, , ,
provides VBZ VBZ
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to TO TO
cardiac JJ JJ
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and CC CC
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imaging NN NN
centers NNS NNS
. . .
<s>
For IN IN
the DT DT
year NN NN
ended VBN VBD
June NNP NNP
30 CD CD
, , ,
Prime NNP NNP
had VBD VBD
a DT DT
net JJ JJ
loss NN NN
of IN IN
$ $ $
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on IN IN
sales NNS NNS
of IN IN
$ $ $
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. . .
<s>
The DT DT
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growth NN NN
rate NN NN
for IN IN
France NNP NNP
's POS POS
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domestic JJ JJ
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for IN IN
the DT DT
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was VBD VBD
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upward RB RB
to TO TO
0.8 CD CD
% NN NN
from IN IN
the DT DT
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months NNS NNS
from IN IN
the DT DT
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of IN IN
0.7 CD CD
% NN NN
, , ,
the DT DT
National NNP NNP
Statistics NNPS NNP
Institute NNP NNP
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for IN IN
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with IN IN
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at IN IN
1.3 CD CD
% NN NN
. . .
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If IN IN
the DT DT
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continues VBZ VBZ
to TO TO
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by IN IN
0.8 CD CD
% NN NN
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for IN IN
the DT DT
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of IN IN
the DT DT
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it PRP PRP
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for IN IN
all DT DT
of IN IN
1989 CD CD
at IN IN
3 CD CD
% NN NN
, , ,
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institute NN NN
said VBD VBD
. . .
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That DT DT
would MD MD
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down RB IN
from IN IN
the DT DT
3.8 CD CD
% NN NN
rise NN NN
posted VBN VBN
in IN IN
1988 CD CD
. . .
<s>
The DT DT
Canadian JJ JJ
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announced VBD VBD
a DT DT
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, , ,
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Canada NNP NNP
Savings NNP NNP
Bond NNP NNP
issue NN NN
that WDT WDT
will MD MD
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investors NNS NNS
10.5 CD CD
% NN NN
in IN IN
the DT DT
first JJ JJ
year NN NN
. . .
<s>
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annual JJ JJ
interest NN NN
rate NN NN
for IN IN
each DT DT
of IN IN
the DT DT
next JJ JJ
11 CD CD
years NNS NNS
will MD MD
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set VBN VBN
each DT DT
fall NN NN
, , ,
when WRB WRB
details NNS NNS
of IN IN
a DT DT
new JJ JJ
series NN NN
are VBP VBP
released VBN VBN
. . .
<s>
Canada NNP NNP
Savings NNP NNP
Bonds NNPS NNP
are VBP VBP
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government NN NN
instruments NNS NNS
for IN IN
meeting VBG VBG
its PRP$ PRP$
financial JJ JJ
requirements NNS NNS
. . .
<s>
The DT DT
government NN NN
has VBZ VBZ
about IN IN
41.4 CD CD
billion CD CD
Canadian JJ JJ
dollars NNS NNS
( ( (
US$ $ $
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billion CD CD
) ) )
of IN IN
such JJ JJ
bonds NNS NNS
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. . .
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Only RB RB
Canadian JJ JJ
residents NNS NNS
are VBP VBP
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to TO TO
buy VB VB
Canada NNP NNP
Savings NNP NNP
Bonds NNPS NNP
, , ,
which WDT WDT
may MD MD
be VB VB
redeemed VBN VBN
any DT DT
time NN NN
at IN IN
face NN NN
value NN NN
. . .
<s>
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bonds NNS NNS
go VBP VBP
on IN IN
sale NN NN
Oct. NNP NNP
19 CD CD
. . .
<s>
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debate NN NN
over IN IN
National NNP NNP
Service NNP NNP
has VBZ VBZ
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again RB RB
. . .
<s>
After IN IN
a DT DT
decade NN NN
in IN IN
which WDT WDT
more JJR JJR
than IN IN
50 CD CD
localities NNS NNS
established VBD VBD
their PRP$ PRP$
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or CC CC
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corps NN NN
and CC CC
dozens NNS NNS
of IN IN
school NN NN
systems NNS NNS
made VBD VBD
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prerequisite NN NN
to TO TO
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, , ,
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focus NN NN
has VBZ VBZ
shifted VBN VBN
to TO TO
Washington NNP NNP
. . .
<s>
At IN IN
least JJS JJS
10 CD CD
bills NNS NNS
proposing VBG VBG
one CD CD
or CC CC
another DT DT
national JJ JJ
program NN NN
were VBD VBD
introduced VBN VBN
in IN IN
Congress NNP NNP
this DT DT
spring NN NN
. . .
<s>
One CD CD
, , ,
co-sponsored VBN JJ
by IN IN
Sen. NNP NNP
Sam NNP NNP
Nunn NNP NNP
( ( (
D. NNP NNP
, , ,
Ga NNP NNP
. . .
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) ) )
and CC CC
Rep. NNP NNP
Dave NNP NNP
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D. NNP NNP
, , ,
Okla. NNP NNP
) ) )
, , ,
would MD MD
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federal JJ JJ
college NN NN
subsidies NNS NNS
to TO TO
students NNS NNS
who WP WP
had VBD VBD
served VBN VBN
. . .
<s>
An DT DT
omnibus JJ NN
bill NN NN
assembled VBN VBN
by IN IN
Sen. NNP NNP
Edward NNP NNP
Kennedy NNP NNP
( ( (
D. NNP NNP
, , ,
Mass. NNP NNP
) ) )
, , ,
and CC CC
including VBG VBG
some DT DT
diluted VBN JJ
Nunn-McCurdy : NNP
provisions NNS NNS
along IN IN
with IN IN
proposals NNS NNS
by IN IN
fellow JJ NN
Democratic JJ NNP
Sens. NNP NNP
Claiborne NNP NNP
Pell NNP NNP
, , ,
Barbara NNP NNP
Mikulski NNP NNP
and CC CC
Christopher NNP NNP
Dodd NNP NNP
, , ,
has VBZ VBZ
been VBN VBN
reported VBN VBN
out IN IN
of IN IN
the DT DT
Senate NNP NNP
Labor NNP NNP
Committee NNP NNP
. . .
<s>
It PRP PRP
might MD MD
well RB RB
win VB VB
Senate NNP NNP
passage NN NN
. . .
<s>
President NNP NNP
Bush NNP NNP
has VBZ VBZ
outlined VBN VBN
his PRP$ PRP$
own JJ JJ
Youth NNP NNP
Entering NNP NNP
Service NNP NNP
( ( (
YES NNP NNP
) ) )
plan NN NN
, , ,
though IN IN
its PRP$ PRP$
details NNS NNS
remain VBP VBP
to TO TO
be VB VB
specified VBN VBN
. . .
<s>
What WP WP
is VBZ VBZ
one CD NN
to TO TO
think VB VB
of IN IN
all PDT PDT
this DT DT
? . .
<s>
Doctrine NNP NN
and CC CC
special JJ JJ
interests NNS NNS
govern VBP VBP
some DT DT
responses NNS NNS
. . .
<s>
People NNS NNS
eager JJ JJ
to TO TO
have VB VB
youth NN NN
`` `` ``
pay VB VBP
their PRP$ PRP$
dues NNS NNS
to TO TO
society NN NN
'' '' ''
favor NN VBP
service NN NN
proposals NNS NNS
-- : :
preferably RB RB
mandatory JJ JJ
ones NNS NNS
. . .
<s>
So RB RB
do VB VBP
those DT DT
who WP WP
seek VBP VBP
a DT DT
`` `` ``
re-energized JJ JJ
concept NN NN
of IN IN
citizenship NN NN
, , ,
'' '' ''
a DT DT
concept NN NN
imposing VBG VBG
stern JJ JJ
obligations NNS NNS
as RB RB
well RB RB
as IN IN
conferring VBG VBG
rights NNS NNS
. . .
<s>
Then RB RB
there EX EX
are VBP VBP
instinctive JJ JJ
opponents NNS NNS
. . .
<s>
To TO TO
libertarians NNS NNS
, , ,
mandatory JJ JJ
service NN NN
is VBZ VBZ
an DT DT
abomination NN NN
and CC CC
voluntary JJ JJ
systems NNS NNS
are VBP VBP
illegitimate JJ JJ
uses NNS NNS
of IN IN
tax NN NN
money NN NN
. . .
<s>
Devotees NNS NNS
of IN IN
the DT DT
market NN NN
question NN VBP
the DT DT
value NN NN
of IN IN
the DT DT
work NN NN
national JJ JJ
service NN NN
would MD MD
perform VB VB
: : :
If IN IN
the DT DT
market NN NN
wo MD MD
n't RB RB
pay VB VB
for IN IN
it PRP PRP
, , ,
they PRP PRP
argue VBP VBP
, , ,
it PRP PRP
ca MD MD
n't RB RB
be VB VB
worth JJ JJ
its PRP$ PRP$
cost NN NN
. . .
<s>
Elements NNS NNS
of IN IN
the DT DT
left NN JJ
are VBP VBP
also RB RB
reflexively RB RB
opposed VBN VBN
; : :
they PRP PRP
see VBP VBP
service NN NN
as IN IN
a DT DT
cover NN NN
for IN IN
the DT DT
draft NN NN
, , ,
or CC CC
fear VB VBP
the DT DT
regimentation NN NN
of IN IN
youth NN NN
, , ,
or CC CC
want VB VB
to TO TO
see VB VB
rights NNS NNS
enlarged JJ VBN
, , ,
not RB RB
obligations NNS NNS
. . .
<s>
But CC CC
what WP WP
about IN IN
those DT DT
of IN IN
us PRP PRP
whose WP$ WP$
views NNS NNS
are VBP VBP
not RB RB
predetermined VBN VBN
by IN IN
formula NN NN
or CC CC
ideology NN NN
? . .
<s>
How WRB WRB
should MD MD
we PRP PRP
think VB VB
about IN IN
national JJ JJ
service NN NN
? . .
<s>
Let VB VB
's POS PRP
begin VB VB
by IN IN
recognizing VBG VBG
a DT DT
main JJ JJ
source NN NN
of IN IN
confusion NN NN
-- : :
`` `` ``
national JJ JJ
service NN NN
'' '' ''
has VBZ VBZ
no DT RB
agreed VBD VBN
meaning NN NN
. . .
<s>
Would MD MD
service VB NN
be VB VB
voluntary JJ JJ
or CC CC
compulsory JJ JJ
? . .
<s>
Short JJ JJ
or CC CC
long JJ JJ
? . .
<s>
Part-time JJ JJ
or CC CC
full-time JJ JJ
? . .
<s>
Paid VBN VBN
or CC CC
unpaid JJ JJ
? . .
<s>
Would MD MD
participants NNS NNS
live VB VB
at IN IN
home NN NN
and CC CC
work NN VB
nearby RB RB
or CC CC
live VB VB
in IN IN
barracks NNS NN
and CC CC
work NN VB
on IN IN
public JJ JJ
lands NNS NNS
? . .
<s>
What WP WDT
kinds NNS NNS
of IN IN
work NN NN
would MD MD
they PRP PRP
do VB VB
? . .
<s>
What WP WP
does VBZ VBZ
`` `` ``
national JJ JJ
'' '' ''
mean NN VB
? . .
<s>
Would MD MD
the DT DT
program NN NN
be VB VB
run VBN VBN
by IN IN
the DT DT
federal JJ JJ
government NN NN
, , ,
by IN IN
local JJ JJ
governments NNS NNS
, , ,
or CC CC
by IN IN
private JJ JJ
voluntary JJ JJ
organizations NNS NNS
? . .
<s>
And CC CC
who WP WP
would MD MD
serve VB VB
? . .
<s>
Only RB JJ
males NNS NNS
, , ,
as IN RB
with IN IN
the DT DT
draft NN NN
, , ,
or CC CC
both DT DT
sexes NNS NNS
? . .
<s>
Youth NNP NN
only RB RB
or CC CC
all DT DT
ages NNS NNS
? . .
<s>
Middle-class JJ JJ
people NNS NNS
, , ,
or CC CC
poor JJ JJ
people NNS NNS
, , ,
or CC CC
a DT DT
genuine JJ JJ
cross-section NN NN
? . .
<s>
Many JJ JJ
or CC CC
few JJ JJ
? . .
<s>
Those DT DT
are VBP VBP
not RB RB
trivial JJ JJ
questions NNS NNS
, , ,
and CC CC
the DT DT
label NN NN
`` `` ``
national JJ JJ
service NN NN
'' '' ''
answers NNS VBZ
none NN NN
of IN IN
them PRP PRP
. . .
<s>
Then RB RB
how WRB WRB
should MD MD
we PRP PRP
think VB VB
about IN IN
national JJ JJ
service NN NN
? . .
<s>
As IN IN
a DT DT
starting VBG VBG
point NN NN
, , ,
here RB RB
are VBP VBP
five CD CD
propositions NNS NNS
: : :
1 LS LS
. . .
<s>
Consider VB VB
the DT DT
ingredients NNS NNS
, , ,
not RB RB
the DT DT
name NN NN
. . .
<s>
Ignore : VB
`` `` ``
national JJ JJ
service NN NN
'' '' ''
in IN IN
the DT DT
abstract JJ JJ
; : :
consider VB VB
specific JJ JJ
proposals NNS NNS
. . .
<s>
They PRP PRP
will MD MD
differ VB VB
in IN IN
crucial JJ JJ
ways NNS NNS
. . .
<s>
2 LS LS
. . .
<s>
`` `` ``
Service NNP NN
'' '' ''
should MD MD
be VB VB
service NN NN
. . .
<s>
As IN IN
commonly RB RB
understood VBN VBN
, , ,
service NN NN
implies VBZ VBZ
sacrifice NN NN
. . .
<s>
It PRP PRP
involves VBZ VBZ
accepting VBG VBG
risk NN NN
, , ,
or CC CC
giving VBG VBG
up RP RP
income NN NN
, , ,
or CC CC
deferring VBG VBG
a DT DT
career NN NN
. . .
<s>
It PRP PRP
follows VBZ VBZ
that IN IN
proposals NNS NNS
like IN IN
Nunn-McCurdy NNP NNP
, , ,
whose WP$ WP$
benefits NNS NNS
to TO TO
enrollees NNS NNS
are VBP VBP
worth JJ JJ
some DT DT
$ $ $
17,500 CD CD
a DT DT
year NN NN
, , ,
do VBP VBP
not RB RB
qualify VB VB
. . .
<s>
There EX EX
is VBZ VBZ
a DT DT
rationale NN NN
for IN IN
such JJ JJ
bills NNS NNS
: : :
Federal JJ NNP
subsidies NNS NNS
to TO TO
college NN NN
students NNS NNS
amount NN VBP
to TO TO
`` `` ``
a DT DT
GI NNP NNP
Bill NNP NNP
without IN IN
the DT DT
GI NNP NNP
'' '' ''
; : :
arguably RB RB
those DT DT
benefits NNS NNS
should MD MD
be VB VB
earned VBN VBN
, , ,
not RB RB
given VBN VBN
. . .
<s>
But CC CC
the DT DT
earnings NNS NNS
exceed VBP VBP
by IN IN
20 CD CD
% NN NN
the DT DT
average JJ JJ
income NN NN
of IN IN
young JJ JJ
high-school NN NN
graduates NNS NNS
with IN IN
full-time JJ JJ
jobs NNS NNS
. . .
<s>
Why WRB WRB
call NN VB
that IN DT
service NN NN
? . .
<s>
3 LS LS
. . .
<s>
Encouragement NNP NN
is VBZ VBZ
fine JJ JJ
; : :
compulsion NN NN
is VBZ VBZ
not RB RB
. . .
<s>
Compelled VBN VBN
service NN NN
is VBZ VBZ
unconstitutional JJ JJ
. . .
<s>
It PRP PRP
is VBZ VBZ
also RB RB
unwise JJ JJ
and CC CC
unenforceable JJ JJ
. . .
<s>
( ( (
Who WP WP
will MD MD
throw VB VB
several JJ JJ
hundred CD CD
thousand CD CD
refusers NNS NNS
in IN IN
jail NN NN
each DT DT
year NN NN
? . .
<s>
) ) )
But CC CC
through IN IN
tax NN NN
policy NN NN
and CC CC
in IN IN
other JJ JJ
ways NNS NNS
the DT DT
federal JJ JJ
government NN NN
encourages VBZ VBZ
many JJ JJ
kinds NNS NNS
of IN IN
behavior NN NN
. . .
<s>
It PRP PRP
should MD MD
also RB RB
encourage VB VB
service NN NN
-- : :
preferably RB RB
by IN IN
all DT DT
classes NNS NNS
and CC CC
all DT DT
ages NNS NNS
. . .
<s>
Its PRP$ PRP$
encouragement NN NN
should MD MD
strengthen VB VB
and CC CC
not RB RB
undercut VB VB
the DT DT
strong JJ JJ
tradition NN NN
of IN IN
volunteering VBG NN
in IN IN
the DT DT
U.S. NNP NNP
, , ,
should MD MD
build VB VB
on IN IN
the DT DT
service NN NN
programs NNS NNS
already RB RB
in IN IN
existence NN NN
, , ,
and CC CC
should MD MD
honor VB VB
local JJ JJ
convictions NNS NNS
about IN IN
which WDT WDT
tasks NNS NNS
most JJS RBS
need VBP VBP
doing VBG VBG
. . .
<s>
4 LS LS
. . .
<s>
Good JJ JJ
programs NNS NNS
are VBP VBP
not RB RB
cheap JJ JJ
. . .
<s>
Enthusiasts NNS NNS
assume VBP VBP
that IN IN
national JJ JJ
service NN NN
would MD MD
get VB VB
important JJ JJ
work NN NN
done VBN VBN
cheaply RB RB
: : :
forest NN NN
fires NNS NNS
fought VBD VBN
, , ,
housing NN NN
rehabilitated VBN VBN
, , ,
students NNS NNS
tutored : VBN
, , ,
day-care JJ NN
centers NNS NNS
staffed VBN VBN
. . .
<s>
There EX EX
is VBZ VBZ
important JJ JJ
work NN NN
to TO TO
be VB VB
done VBN VBN
, , ,
and CC CC
existing VBG VBG
service NN NN
and CC CC
conservation NN NN
corps NN NN
have VBP VBP
shown VBN VBN
that IN IN
even RB JJ
youths NNS NNS
who WP WP
start VBP VBP
with IN IN
few JJ JJ
skills NNS NNS
can MD MD
do VB VB
much JJ RB
of IN IN
it PRP PRP
well RB RB
-- : :
but CC CC
not RB RB
cheaply RB RB
. . .
<s>
Good JJ JJ
service NN NN
programs NNS NNS
require VBP VBP
recruitment NN NN
, , ,
screening VBG NN
, , ,
training NN NN
and CC CC
supervision NN NN
-- : :
all DT DT
of IN IN
high JJ JJ
quality NN NN
. . .
<s>
They PRP PRP
involve VBP VBP
stipends NNS NNS
to TO TO
participants NNS NNS
. . .
<s>
Full-time JJ JJ
residential JJ JJ
programs NNS NNS
also RB RB
require VBP VB
housing NN NN
and CC CC
full-time JJ JJ
supervision NN NN
; : :
they PRP PRP
are VBP VBP
particularly RB RB
expensive JJ JJ
-- : :
more JJR JJR
per IN IN
participant NN NN
than IN IN
a DT DT
year NN NN
at IN IN
Stanford NNP NNP
or CC CC
Yale NNP NNP
. . .
<s>
Non-residential JJ JJ
programs NNS NNS
are VBP VBP
cheaper JJR JJR
, , ,
but CC CC
good JJ JJ
ones NNS NNS
still RB RB
come VBP VB
to TO TO
some DT DT
$ $ $
10,000 CD CD
a DT DT
year NN NN
. . .
<s>
Are VBP VBP
they PRP PRP
worth JJ JJ
that IN DT
? . .
<s>
Evaluations NNS NNS
suggest VBP VBP
that IN IN
good JJ JJ
ones NNS NNS
are VBP VBP
-- : :
especially RB RB
so RB IN
if IN IN
the DT DT
effects NNS NNS
on IN IN
participants NNS NNS
are VBP VBP
counted VBN VBN
. . .
<s>
But CC CC
the DT DT
calculations NNS NNS
are VBP VBP
challengeable JJ JJ
. . .
<s>
5 LS LS
. . .
<s>
Underclass JJ NNS
youth NN NN
are VBP VBP
a DT DT
special JJ JJ
concern NN NN
. . .
<s>
Are VBP VBP
such JJ JJ
expenditures NNS NNS
worthwhile JJ JJ
, , ,
then RB RB
? . .
<s>
Yes RB UH
, , ,
if IN IN
targeted VBN VBN
. . .
<s>
People NNS NNS
of IN IN
all DT DT
ages NNS NNS
and CC CC
all DT DT
classes NNS NNS
should MD MD
be VB VB
encouraged VBN VBN
to TO TO
serve VB VB
, , ,
but CC CC
there EX EX
are VBP VBP
many JJ JJ
ways NNS NNS
for IN IN
middle-class JJ JJ
kids NNS NNS
, , ,
and CC CC
their PRP$ PRP$
elders NNS NNS
, , ,
to TO TO
serve VB VB
at IN IN
little JJ JJ
public JJ JJ
cost NN NN
. . .
<s>
They PRP PRP
can MD MD
volunteer VB VB
at IN IN
any DT DT
of IN IN
thousands NNS NNS
of IN IN
non-profit JJ JJ
institutions NNS NNS
, , ,
or CC CC
participate VB VB
in IN IN
service NN NN
programs NNS NNS
required VBN VBN
by IN IN
high JJ JJ
schools NNS NNS
or CC CC
encouraged VBN VBN
by IN IN
colleges NNS NNS
or CC CC
employers NNS NNS
. . .
<s>
Underclass JJ JJ
youth NN NN
do VBP VBP
n't RB RB
have VB VB
those DT DT
opportunities NNS NNS
. . .
<s>
They PRP PRP
are VBP VBP
not RB RB
enrolled VBN VBN
in IN IN
high JJ JJ
school NN NN
or CC CC
college NN NN
. . .
<s>
They PRP PRP
are VBP VBP
unlikely JJ JJ
to TO TO
be VB VB
employed VBN VBN
. . .
<s>
And CC CC
they PRP PRP
have VBP VBP
grown VBN VBN
up RP RP
in IN IN
unprecedentedly RB RB
grim JJ JJ
circumstances NNS NNS
, , ,
among IN IN
family NN NN
structures NNS NNS
breaking VBG VBG
down RP IN
, , ,
surrounded VBN VBN
by IN IN
self-destructive JJ JJ
behaviors NNS NNS
and CC CC
bleak JJ JJ
prospects NNS NNS
. . .
<s>
But CC CC
many JJ JJ
of IN IN
them PRP PRP
can MD MD
be VB VB
quite RB RB
profoundly RB RB
reoriented VBN VBN
by IN IN
productive JJ JJ
and CC CC
disciplined JJ VBN
service NN NN
. . .
<s>
Some DT DT
wo MD MD
n't RB RB
accept VB VB
the DT DT
discipline NN NN
; : :
others NNS NNS
drop VBP VBP
out RP RP
for IN IN
other JJ JJ
reasons NNS NNS
. . .
<s>
But CC CC
some DT DT
whom WP WP
nothing NN NN
else RB RB
is VBZ VBZ
reaching VBG VBG
are VBP VBP
transformed VBN VBN
. . .
<s>
Learning NN VBG
skills NNS NNS
, , ,
producing VBG VBG
something NN NN
cooperatively RB RB
, , ,
feeling VBG VBG
useful JJ JJ
, , ,
they PRP PRP
are VBP VBP
no RB RB
longer RBR RB
dependent JJ JJ
-- : :
others NNS NNS
now RB RB
depend VBP VBP
on IN IN
them PRP PRP
. . .
<s>
Even RB RB
if IN IN
it PRP PRP
is VBZ VBZ
cheaper JJR JJR
to TO TO
build VB VB
playgrounds NNS NNS
or CC CC
paint NN VB
apartments NNS NNS
or CC CC
plant NN VB
dune-grass NN NN
with IN IN
paid VBN VBN
professionals NNS NNS
, , ,
the DT DT
effects NNS NNS
on IN IN
the DT DT
young JJ JJ
people NNS NNS
providing VBG VBG
those DT DT
services NNS NNS
alter VBP VBP
the DT DT
calculation NN NN
. . .
<s>
Strictly RB RB
speaking NN VBG
, , ,
these DT DT
youth NN NN
are VBP VBP
not RB RB
performing VBG VBG
service NN NN
. . .
<s>
They PRP PRP
are VBP VBP
giving VBG VBG
up RP RP
no DT DT
income NN NN
, , ,
deferring VBG VBG
no DT DT
careers NNS NNS
, , ,
incurring VBG VBG
no DT DT
risk NN NN
. . .
<s>
But CC CC
they PRP PRP
believe VBP VBP
themselves PRP PRP
to TO TO
be VB VB
serving VBG VBG
, , ,
and CC CC
they PRP PRP
begin VBP VBP
to TO TO
respect VB VB
themselves PRP PRP
( ( (
and CC CC
others NNS NNS
) ) )
, , ,
to TO TO
take VB VB
control NN NN
of IN IN
their PRP$ PRP$
lives NNS NNS
, , ,
to TO TO
think VB VB
of IN IN
the DT DT
future NN NN
. . .
<s>
That DT DT
is VBZ VBZ
a DT DT
service NN NN
to TO TO
the DT DT
nation NN NN
. . .
<s>
It PRP PRP
is VBZ VBZ
what WP WP
federal JJ JJ
support NN NN
should MD MD
try VB VB
hardest RBS RBS
to TO TO
achieve VB VB
. . .
<s>
Mr. NNP NNP
Szanton NNP NNP
, , ,
a DT DT
Carter NNP NNP
administration NN NN
budget NN NN
official NN NN
, , ,
heads VBZ VBZ
his PRP$ PRP$
own JJ JJ
Washington-based JJ JJ
strategic JJ JJ
planning NN NN
firm NN NN
. . .
<s>
He PRP PRP
is VBZ VBZ
a DT DT
co-author NN NN
of IN IN
`` `` ``
National NNP NNP
Service NNP NNP
: : :
What WP WP
Would MD MD
It PRP PRP
Mean : VB
? . .
<s>
'' '' ''
( ( (
Lexington NNP NNP
Books NNPS NNPS
, , ,
1986 CD CD
) ) )
. . .
<s>
Government NN NNP
officials NNS NNS
here RB RB
and CC CC
in IN IN
other JJ JJ
countries NNS NNS
laid VBD VBD
plans NNS NNS
through IN IN
the DT DT
weekend NN NN
to TO TO
head VB VB
off RP RP
a DT DT
Monday NNP NNP
market NN NN
meltdown NN NN
-- : :
but CC CC
went VBD VBD
out IN IN
of IN IN
their PRP$ PRP$
way NN NN
to TO TO
keep VB VB
their PRP$ PRP$
moves NNS NNS
quiet JJ JJ
. . .
<s>
Federal NNP NNP
Reserve NNP NNP
Chairman NNP NNP
Alan NNP NNP
Greenspan NNP NNP
was VBD VBD
on IN IN
the DT DT
telephones NNS NNS
, , ,
making VBG VBG
it PRP PRP
clear JJ JJ
to TO TO
officials NNS NNS
in IN IN
the DT DT
U.S. NNP NNP
and CC CC
abroad RB RB
that IN IN
the DT DT
Fed NNP NNP
was VBD VBD
prepared VBN VBN
to TO TO
inject VB VB
massive JJ JJ
amounts NNS NNS
of IN IN
money NN NN
into IN IN
the DT DT
banking NN NN
system NN NN
, , ,
as IN IN
it PRP PRP
did VBD VBD
in IN IN
October NNP NNP
1987 CD CD
, , ,
if IN IN
the DT DT
action NN NN
were VBD VBD
needed VBN VBN
to TO TO
prevent VB VB
a DT DT
financial JJ JJ
crisis NN NN
. . .
<s>
And CC CC
at IN IN
the DT DT
Treasury NNP NNP
, , ,
Secretary NNP NNP
Nicholas NNP NNP
Brady NNP NNP
talked VBD VBD
with IN IN
friends NNS NNS
and CC CC
associates NNS NNS
on IN IN
Wall NNP NNP
Street NNP NNP
while IN IN
Assistant NNP NNP
Secretary NNP NNP
David NNP NNP
Mullins NNP NNP
carefully RB RB
analyzed VBD VBD
data NNS NNS
on IN IN
the DT DT
Friday NNP NNP
market NN NN
plunge NN NN
. . .
<s>
But CC CC
the DT DT
officials NNS NNS
feared VBD VBD
that IN IN
any DT DT
public JJ JJ
announcements NNS NNS
would MD MD
only RB RB
increase VB VB
market NN NN
jitters NNS NNS
. . .
<s>
In IN IN
addition NN NN
, , ,
officials NNS NNS
at IN IN
the DT DT
Fed NNP NNP
and CC CC
in IN IN
the DT DT
Bush NNP NNP
administration NN NN
decided VBD VBD
that IN IN
avoiding VBG VBG
overt : JJ
actions NNS NNS
and CC CC
statements NNS NNS
over IN IN
the DT DT
weekend NN NN
would MD MD
give VB VB
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thing NN NN
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investors NNS NNS
can MD MD
do VB VB
is VBZ VBZ
`` `` ``
just RB RB
sit VB VBP
tight JJ RB
, , ,
'' '' ''
says VBZ VBZ
Marshall NNP NNP
B. NNP NNP
Front NNP NNP
, , ,
executive JJ JJ
vice NN NN
president NN NN
and CC CC
head NN NN
of IN IN
investment NN NN
counseling NN NN
at IN IN
Stein NNP NNP
Roe NNP NNP
& CC CC
Farnham NNP NNP
Inc. NNP NNP
, , ,
a DT DT
Chicago-based JJ JJ
investment NN NN
counseling NN VBG
firm NN NN
that WDT WDT
manages VBZ VBZ
about IN IN
$ $ $
18 CD CD
billion CD CD
. . .
<s>
On IN IN
the DT DT
one CD CD
hand NN NN
, , ,
Mr. NNP NNP
Front NNP NNP
says VBZ VBZ
, , ,
it PRP PRP
would MD MD
be VB VB
misguided JJ VBN
to TO TO
sell VB VB
into IN IN
`` `` ``
a DT DT
classic JJ JJ
panic NN NN
. . .
<s>
'' '' ''
On IN IN
the DT DT
other JJ JJ
hand NN NN
, , ,
it PRP PRP
's VBZ VBZ
not RB RB
necessarily RB RB
a DT DT
good JJ JJ
time NN NN
to TO TO
jump VB VB
in IN IN
and CC CC
buy VB VB
. . .
<s>
`` `` ``
This DT DT
is VBZ VBZ
all DT DT
emotion NN NN
right RB RB
now RB RB
, , ,
and CC CC
when WRB WRB
emotion NN NN
starts VBZ VBZ
to TO TO
run VB VB
, , ,
it PRP PRP
can MD MD
run VB VB
further RBR RB
than IN IN
anyone NN NN
anticipates VBZ VBZ
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
`` `` ``
So IN IN
it PRP PRP
's VBZ VBZ
more RBR RBR
prudent JJ JJ
to TO TO
wait VB VB
and CC CC
see VB VB
how WRB WRB
things NNS NNS
stabilize VBP VBP
. . .
<s>
'' '' ''
Roger NNP NNP
Ibbotson NNP NNP
, , ,
professor NN NN
of IN IN
finance NN NN
at IN IN
Yale NNP NNP
University NNP NNP
and CC CC
head NN NN
of IN IN
the DT DT
market NN NN
information NN NN
firm NN NN
Ibbotson NNP NNP
Associates NNPS NNPS
Inc. NNP NNP
, , ,
says VBZ VBZ
, , ,
`` `` ``
My PRP$ PRP$
real JJ JJ
advice NN NN
would MD MD
be VB VB
to TO TO
just RB RB
ride VB VB
through IN IN
it PRP PRP
. . .
<s>
Generally RB RB
, , ,
it PRP PRP
is VBZ VBZ
n't RB RB
wise JJ JJ
to TO TO
be VB VB
in IN IN
and CC CC
out IN IN
'' '' ''
of IN IN
the DT DT
stock NN NN
market NN NN
. . .
<s>
Mr. NNP NNP
Ibbotson NNP NNP
thinks VBZ VBZ
that IN IN
this DT DT
week NN NN
is VBZ VBZ
`` `` ``
going VBG VBG
to TO TO
be VB VB
a DT DT
roller-coaster NN NN
week NN NN
. . .
<s>
'' '' ''
But CC CC
he PRP PRP
also RB RB
thinks VBZ VBZ
it PRP PRP
is VBZ VBZ
`` `` ``
a DT DT
good JJ JJ
week NN NN
to TO TO
consider VB VB
buying NN VBG
. . .
<s>
'' '' ''
John NNP NNP
Snyder NNP NNP
, , ,
former JJ JJ
president NN NN
of IN IN
the DT DT
Los NNP NNP
Angeles NNP NNP
chapter NN NN
of IN IN
the DT DT
National NNP NNP
Association NNP NNP
of IN IN
Investors NNPS NNPS
Corp. NNP NNP
, , ,
an DT DT
organization NN NN
of IN IN
investment NN NN
clubs NNS NNS
and CC CC
individual JJ JJ
investors NNS NNS
, , ,
says VBZ VBZ
his PRP$ PRP$
fellow JJ NN
club NN NN
members NNS NNS
did VBD VBD
n't RB RB
sell VB NN
in IN IN
the DT DT
crash NN NN
of IN IN
1987 CD CD
, , ,
and CC CC
see VB VB
no DT DT
reason NN NN
to TO TO
sell VB VB
now RB RB
. . .
<s>
`` `` ``
We PRP PRP
're VBP VBP
dedicated VBN VBN
long-term JJ JJ
investors NNS NNS
, , ,
not RB RB
traders NNS NNS
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
`` `` ``
We PRP PRP
understand VBP VBP
panics NNS NNS
and CC CC
euphoria NN NN
. . .
<s>
And CC CC
we PRP PRP
hope VBP VBP
to TO TO
take VB VB
advantage NN NN
of IN IN
panics NNS NNS
and CC CC
buy VB VB
stocks NNS NNS
when WRB WRB
they PRP PRP
plunge VBP VBP
. . .
<s>
'' '' ''
One CD CD
camp NN NN
of IN IN
investment NN NN
pros NNS NNS
sees VBZ VBZ
what WP WP
happened VBD VBD
Friday NNP NNP
as IN IN
an DT DT
opportunity NN NN
. . .
<s>
Over IN IN
the DT DT
next JJ JJ
days NNS NNS
and CC CC
weeks NNS NNS
, , ,
they PRP PRP
say VBP VBP
, , ,
investors NNS NNS
should MD MD
look VB VB
for IN IN
stocks NNS NNS
to TO TO
buy VB VB
. . .
<s>
Friday NNP NNP
's POS POS
action NN NN
`` `` ``
was VBD VBD
an DT DT
old-fashioned JJ JJ
panic NN NN
, , ,
'' '' ''
says VBZ VBZ
Alfred NNP NNP
Goldman NNP NNP
, , ,
director NN NN
of IN IN
technical JJ JJ
market NN NN
analysis NN NN
for IN IN
A.G. NNP NNP
Edwards NNP NNP
& CC CC
Sons NNP NNPS
in IN IN
St. NNP NNP
Louis NNP NNP
. . .
<s>
`` `` ``
Stocks NNS NNS
were VBD VBD
being VBG VBG
thrown VBN VBN
out IN IN
of IN IN
windows NNS NNS
at IN IN
any DT DT
price NN NN
. . .
<s>
'' '' ''
His PRP$ PRP$
advice NN NN
: : :
`` `` ``
You PRP PRP
ought MD MD
to TO TO
be VB VB
there RB RB
with IN IN
a DT DT
basket NN NN
catching VBG VBG
them PRP PRP
. . .
<s>
'' '' ''
James NNP NNP
Craig NNP NNP
, , ,
portfolio NN NN
manager NN NN
for IN IN
the DT DT
Denver-based JJ JJ
Janus NNP NNP
Fund NNP NNP
, , ,
which WDT WDT
has VBZ VBZ
one CD CD
of IN IN
the DT DT
industry NN NN
's POS POS
better JJR JJR
track NN NN
records NNS NNS
, , ,
started VBD VBD
his PRP$ PRP$
buying NN NN
during IN IN
Friday NNP NNP
's POS POS
plunge NN NN
. . .
<s>
Stocks NNS NNS
such JJ JJ
as IN IN
Hershey NNP NNP
Foods NNP NNPS
Corp. NNP NNP
, , ,
Wal-Mart NNP NNP
Stores NNPS NNPS
Inc. NNP NNP
, , ,
American NNP NNP
International NNP NNP
Group NNP NNP
Inc. NNP NNP
and CC CC
Federal NNP NNP
National NNP NNP
Mortgage NNP NNP
Association NNP NNP
became VBD VBD
such JJ JJ
bargains NNS NNS
that IN IN
he PRP PRP
could MD MD
n't RB RB
resist VB VB
them PRP PRP
, , ,
he PRP PRP
says VBZ VBZ
. . .
<s>
And CC CC
Mr. NNP NNP
Craig NNP NNP
expects VBZ VBZ
to TO TO
pick VB VB
up RP RP
more JJR JJR
shares NNS NNS
today NN NN
. . .
<s>
`` `` ``
It PRP PRP
will MD MD
be VB VB
chaotic JJ JJ
at IN IN
first JJ JJ
, , ,
but CC CC
I PRP PRP
would MD MD
not RB RB
be VB VB
buying VBG VBG
if IN IN
I PRP PRP
thought VBD VBD
we PRP PRP
were VBD VBD
headed VBN VBN
for IN IN
real JJ JJ
trouble NN NN
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
He PRP PRP
argues VBZ VBZ
that IN IN
stocks NNS NNS
are VBP VBP
reasonably RB RB
valued VBN VBN
now RB RB
, , ,
and CC CC
that IN IN
interest NN NN
rates NNS NNS
are VBP VBP
lower RBR JJR
now RB RB
than IN IN
in IN IN
the DT DT
fall NN NN
of IN IN
1987 CD CD
. . .
<s>
Mr. NNP NNP
Front NNP NNP
of IN IN
Stein NNP NNP
Roe NNP NNP
suggests VBZ VBZ
that IN IN
any DT DT
buying NN NN
should MD MD
`` `` ``
concentrate VB VB
in IN IN
stocks NNS NNS
that WDT WDT
have VBP VBP
lagged VBN VBN
the DT DT
market NN NN
on IN IN
the DT DT
up RP IN
side NN NN
, , ,
or CC CC
stocks NNS NNS
that WDT WDT
have VBP VBP
been VBN VBN
beaten VBN VBN
down RP RB
a DT DT
lot NN NN
more JJR RBR
than IN IN
the DT DT
market NN NN
in IN IN
this DT DT
correction NN NN
. . .
<s>
'' '' ''
His PRP$ PRP$
firm NN NN
favors VBZ VBZ
selected VBN VBN
computer NN NN
, , ,
drug NN NN
and CC CC
pollution-control JJ JJ
stocks NNS NNS
. . .
<s>
Other JJ JJ
investment NN NN
pros NNS NNS
are VBP VBP
more RBR RBR
pessimistic JJ JJ
. . .
<s>
They PRP PRP
say VBP VBP
investors NNS NNS
should MD MD
sell VB VB
stocks NNS NNS
-- : :
but CC CC
not RB RB
necessarily RB RB
right RB RB
away RB RB
. . .
<s>
Many JJ JJ
of IN IN
them PRP PRP
stress VBP VBP
that IN IN
the DT DT
selling NN NN
can MD MD
be VB VB
orderly JJ JJ
, , ,
gradual JJ JJ
, , ,
and CC CC
done VBN VBN
when WRB WRB
stock NN NN
prices NNS NNS
are VBP VBP
rallying VBG VBG
. . .
<s>
On IN IN
Thursday NNP NNP
, , ,
William NNP NNP
Fleckenstein NNP NNP
, , ,
a DT DT
Seattle NNP NNP
money NN NN
manager NN NN
, , ,
used VBN VBD
futures NNS NNS
contracts NNS NNS
in IN IN
his PRP$ PRP$
personal JJ JJ
account NN NN
to TO TO
place VB VB
a DT DT
bet NN NN
that IN IN
the DT DT
broad JJ JJ
market NN NN
averages NNS NNS
would MD MD
decline VB VB
. . .
<s>
He PRP PRP
thinks VBZ VBZ
the DT DT
underlying VBG VBG
inflation NN NN
rate NN NN
is VBZ VBZ
around IN IN
5 CD CD
% NN NN
to TO TO
6 CD CD
% NN NN
, , ,
far RB RB
higher RBR JJR
than IN IN
most JJS JJS
people NNS NNS
suppose VBP VBP
. . .
<s>
In IN IN
the DT DT
pension NN NN
accounts NNS NNS
he PRP PRP
manages VBZ VBZ
, , ,
Mr. NNP NNP
Fleckenstein NNP NNP
has VBZ VBZ
raised VBN VBN
cash NN NN
positions NNS NNS
and CC CC
invested VBN VBN
in IN IN
gold NN NN
and CC CC
natural JJ JJ
gas NN NN
stocks NNS NNS
, , ,
partly RB RB
as IN IN
an DT DT
inflation NN NN
hedge NN NN
. . .
<s>
He PRP PRP
thinks VBZ VBZ
government NN NN
officials NNS NNS
are VBP VBP
terrified VBN VBN
to TO TO
let VB VB
a DT DT
recession NN NN
start NN VB
when WRB WRB
government NN NN
, , ,
corporate JJ JJ
and CC CC
personal JJ JJ
debt NN NN
levels NNS NNS
are VBP VBP
so RB RB
high JJ JJ
. . .
<s>
So RB IN
he PRP PRP
thinks VBZ VBZ
the DT DT
government NN NN
will MD MD
err VBP VB
on IN IN
the DT DT
side NN NN
of IN IN
rekindled : VBN
inflation NN NN
. . .
<s>
As IN IN
a DT DT
result NN NN
, , ,
Mr. NNP NNP
Fleckenstein NNP NNP
says VBZ VBZ
, , ,
`` `` ``
I PRP PRP
think VBP VBP
the DT DT
ball NN NN
game NN NN
's POS VBZ
over IN IN
, , ,
'' '' ''
and CC CC
investors NNS NNS
are VBP VBP
about IN IN
to TO TO
face VB VB
a DT DT
bear NN NN
market NN NN
. . .
<s>
David NNP NNP
M. NNP NNP
Jones NNP NNP
, , ,
vice NN NN
president NN NN
at IN IN
Aubrey NNP NNP
G. NNP NNP
Lanston NNP NNP
& CC CC
Co. NNP NNP
, , ,
recommends VBZ VBZ
Treasury NNP NN
securities NNS NNS
( ( (
of IN IN
up IN IN
to TO TO
five CD CD
years NNS NNS
' POS POS
maturity NN NN
) ) )
. . .
<s>
He PRP PRP
says VBZ VBZ
the DT DT
Oct. NNP NNP
6 CD CD
employment NN NN
report NN NN
, , ,
showing VBG VBG
slower JJR JJR
economic JJ JJ
growth NN NN
and CC CC
a DT DT
severe JJ JJ
weakening NN NN
in IN IN
the DT DT
manufacturing NN VBG
sector NN NN
, , ,
is VBZ VBZ
a DT DT
warning NN VBG
sign NN NN
to TO TO
investors NNS NNS
. . .
<s>
One CD CD
strategy NN NN
for IN IN
investors NNS NNS
who WP WP
want VBP VBP
to TO TO
stay VB VB
in IN IN
but CC CC
hedge VB VB
their PRP$ PRP$
bets NNS NNS
is VBZ VBZ
to TO TO
buy VB VB
`` `` ``
put VBN VBN
'' '' ''
options NNS NNS
, , ,
either CC CC
on IN IN
the DT DT
individual JJ JJ
stocks NNS NNS
they PRP PRP
own VBP VBP
or CC CC
on IN IN
a DT DT
broad JJ JJ
market NN NN
index NN NN
. . .
<s>
A DT DT
put NN VBN
option NN NN
gives VBZ VBZ
its PRP$ PRP$
holder NN NN
the DT DT
right NN RB
( ( (
but CC CC
not RB RB
the DT DT
obligation NN NN
) ) )
to TO TO
sell VB VB
a DT DT
stock NN NN
( ( (
or CC CC
stock NN NN
index NN NN
) ) )
for IN IN
a DT DT
specified JJ VBN
price NN NN
( ( (
the DT DT
strike NN NN
price NN NN
) ) )
until IN IN
the DT DT
option NN NN
expires VBZ VBZ
. . .
<s>
Whether IN IN
this DT DT
insurance NN NN
is VBZ VBZ
worthwhile JJ JJ
depends VBZ VBZ
on IN IN
the DT DT
cost NN NN
of IN IN
an DT DT
option NN NN
. . .
<s>
The DT DT
cost NN NN
, , ,
or CC CC
premium NN NN
, , ,
tends VBZ VBZ
to TO TO
get VB VB
fat JJ JJ
in IN IN
times NNS NNS
of IN IN
crisis NN NN
. . .
<s>
Thus RB RB
, , ,
buying NN VBG
puts VBZ NNS
after IN IN
a DT DT
big JJ JJ
market NN NN
slide NN NN
can MD MD
be VB VB
an DT DT
expensive JJ JJ
way NN NN
to TO TO
hedge VB VB
against IN IN
risk NN NN
. . .
<s>
The DT DT
prices NNS NNS
of IN IN
puts VBZ NNS
generally RB RB
did VBD VBD
n't RB RB
soar VB VB
Friday NNP NNP
. . .
<s>
For IN IN
example NN NN
, , ,
the DT DT
premium NN NN
as IN IN
a DT DT
percentage NN NN
of IN IN
the DT DT
stock NN NN
price NN NN
for IN IN
certain JJ JJ
puts VBZ NNS
on IN IN
Eli NNP NNP
Lilly NNP NNP
& CC CC
Co. NNP NNP
moved VBD VBD
up RP RB
from IN IN
3 CD CD
% NN NN
at IN IN
Thursday NNP NNP
's POS POS
close NN NN
to TO TO
only RB RB
3.3 CD CD
% NN NN
at IN IN
Friday NNP NNP
's POS POS
close NN NN
, , ,
even RB RB
though IN IN
the DT DT
shares NNS NNS
dropped VBD VBD
more JJR JJR
than IN IN
$ $ $
5.50 CD CD
. . .
<s>
But CC CC
put-option NN NN
prices NNS NNS
may MD MD
zoom VB VB
when WRB WRB
trading NN NN
resumes VBZ VBZ
today NN NN
. . .
<s>
It PRP PRP
's VBZ VBZ
hard JJ JJ
to TO TO
generalize VB VB
about IN IN
a DT DT
reasonable JJ JJ
price NN NN
for IN IN
puts VBZ NNS
. . .
<s>
But CC CC
investors NNS NNS
should MD MD
keep VB VB
in IN IN
mind NN NN
, , ,
before IN IN
paying VBG VBG
too RB RB
much RB JJ
, , ,
that IN IN
the DT DT
average JJ JJ
annual JJ JJ
return NN NN
for IN IN
stock NN NN
holdings NNS NNS
, , ,
long-term RB JJ
, , ,
is VBZ VBZ
9 CD CD
% NN NN
to TO TO
10 CD CD
% NN NN
a DT DT
year NN NN
; : :
a DT DT
return NN NN
of IN IN
15 CD CD
% NN NN
is VBZ VBZ
considered VBN VBN
praiseworthy : JJ
. . .
<s>
Paying VBG VBG
, , ,
say VB VB
, , ,
10 CD CD
% NN NN
for IN IN
insurance NN NN
against IN IN
losses NNS NNS
takes VBZ VBZ
a DT DT
deep JJ JJ
bite NN NN
out IN IN
of IN IN
the DT DT
return NN NN
. . .
<s>
James NNP NNP
A. NNP NNP
White NNP NNP
and CC CC
Tom NNP NNP
Herman NNP NNP
contributed VBD VBD
to TO TO
this DT DT
article NN NN
. . .
<s>
Coldwell NNP NNP
Banker NNP NNP
Commercial NNP NNP
Group NNP NNP
said VBD VBD
it PRP PRP
sold VBD VBD
$ $ $
47 CD CD
million CD CD
of IN IN
common JJ JJ
stock NN NN
to TO TO
its PRP$ PRP$
employees NNS NNS
at IN IN
$ $ $
10 CD CD
a DT DT
share NN NN
, , ,
giving VBG VBG
them PRP PRP
a DT DT
total JJ JJ
stake NN NN
of IN IN
more JJR RBR
than IN IN
40 CD CD
% NN NN
in IN IN
the DT DT
commercial JJ JJ
real JJ JJ
estate NN NN
brokerage NN NN
firm NN NN
. . .
<s>
The DT DT
firm NN NN
, , ,
which WDT WDT
was VBD VBD
acquired VBN VBN
in IN IN
April NNP NNP
from IN IN
Sears NNP NNP
, , ,
Roebuck NNP NNP
& CC CC
Co. NNP NNP
in IN IN
a DT DT
management-led JJ JJ
buy-out NN NN
, , ,
had VBD VBD
planned VBN VBN
to TO TO
sell VB VB
up IN IN
to TO TO
$ $ $
56.4 CD CD
million CD CD
of IN IN
stock NN NN
, , ,
or CC CC
a DT DT
50 CD CD
% NN NN
stake NN NN
in IN IN
the DT DT
company NN NN
, , ,
to TO TO
its PRP$ PRP$
5,000 CD CD
employees NNS NNS
. . .
<s>
Though IN IN
the DT DT
offering NN NN
did VBD VBD
n't RB RB
sell VB VB
out RP IN
, , ,
James NNP NNP
J. NNP NNP
Didion NNP NNP
, , ,
chairman NN NN
and CC CC
chief JJ NN
executive NN NN
officer NN NN
, , ,
said VBD VBD
, , ,
`` `` ``
We PRP PRP
're VBP VBP
pretty RB RB
proud JJ JJ
of IN IN
the DT DT
employees NNS NNS
' POS POS
response NN NN
. . .
<s>
'' '' ''
He PRP PRP
noted VBD VBD
that IN IN
unlike IN IN
an DT DT
employee NN NN
stock NN NN
ownership NN NN
plan NN NN
, , ,
where WRB WRB
a DT DT
company NN NN
usually RB RB
borrows VBZ VBZ
money NN NN
from IN IN
third JJ JJ
party NN NN
lenders NNS NNS
to TO TO
buy VB VB
stock NN NN
that IN IN
it PRP PRP
sets VBZ VBZ
aside RB RB
to TO TO
award NN VB
employees NNS NNS
over IN IN
time NN NN
, , ,
here RB RB
employees NNS NNS
had VBD VBD
to TO TO
fork VB VB
out RP RP
their PRP$ PRP$
own JJ JJ
cash NN NN
for IN IN
the DT DT
stock NN NN
. . .
<s>
`` `` ``
They PRP PRP
came VBD VBD
up RP RP
with IN IN
their PRP$ PRP$
own JJ JJ
money NN NN
instead RB RB
of IN IN
borrowed VBN VBN
money NN NN
, , ,
'' '' ''
Mr. NNP NNP
Didion NNP NNP
said VBD VBD
. . .
<s>
`` `` ``
It PRP PRP
's VBZ VBZ
totally RB RB
different JJ JJ
. . .
<s>
'' '' ''
He PRP PRP
said VBD VBD
the DT DT
offering NN NN
was VBD VBD
designed VBN VBN
to TO TO
create VB VB
long-term JJ JJ
incentives NNS NNS
for IN IN
employees NNS NNS
. . .
<s>
`` `` ``
We PRP PRP
're VBP VBP
in IN IN
a DT DT
service NN NN
business NN NN
, , ,
and CC CC
in IN IN
that DT DT
context NN NN
, , ,
it PRP PRP
's VBZ VBZ
vital JJ JJ
to TO TO
have VB VB
your PRP$ PRP$
employees NNS NNS
involved VBN VBN
in IN IN
the DT DT
ownership NN NN
so IN IN
they PRP PRP
have VBP VBP
a DT DT
stake NN NN
in IN IN
the DT DT
success NN NN
. . .
<s>
'' '' ''
The DT DT
brokerage NN NN
firm NN NN
wo MD MD
n't RB RB
pay VB VB
a DT DT
dividend NN NN
on IN IN
the DT DT
stock NN NN
. . .
<s>
Employees NNS NNS
have VBP VBP
the DT DT
right NN NN
to TO TO
trade VB VB
stock NN NN
among IN IN
themselves PRP PRP
, , ,
and CC CC
the DT DT
company NN NN
will MD MD
establish VB VB
an DT DT
internal JJ JJ
clearing NN NN
house NN NN
for IN IN
these DT DT
transactions NNS NNS
. . .
<s>
They PRP PRP
may MD MD
also RB RB
eventually RB RB
sell VB VB
the DT DT
shares NNS NNS
to TO TO
third JJ JJ
parties NNS NNS
, , ,
but CC CC
the DT DT
outside JJ JJ
investors NNS NNS
who WP WP
own VBP VBP
the DT DT
remaining VBG VBG
60 CD CD
% NN NN
of IN IN
Coldwell NNP NNP
Banker NNP NNP
have VBP VBP
the DT DT
right NN NN
to TO TO
first JJ JJ
refusal NN NN
. . .
<s>
Those DT DT
outside JJ JJ
investors NNS NNS
in IN IN
Coldwell NNP NNP
Banker NNP NNP
include VBP VBP
Carlyle NNP NNP
Group NNP NNP
, , ,
a DT DT
closely RB RB
held VBN VBN
Washington NNP NNP
, , ,
D.C. NNP NNP
, , ,
merchant NN NN
banking NN NN
firm NN NN
whose WP$ WP$
co-chairman NN NN
is VBZ VBZ
Frank NNP NNP
Carlucci NNP NNP
, , ,
former JJ JJ
secretary NN NN
of IN IN
defense NN NN
; : :
Frederic NNP NNP
V. NNP NNP
Malek NNP NNP
, , ,
senior JJ JJ
adviser NN NN
to TO TO
Carlyle NNP NNP
Group NNP NNP
; : :
Mellon NNP NNP
Family NNP NNP
Trust NNP NNP
of IN IN
Pittsburgh NNP NNP
; : :
Westinghouse NNP NNP
Credit NNP NNP
Corp. NNP NNP
, , ,
the DT DT
financial JJ JJ
services NNS NNS
unit NN NN
of IN IN
Westinghouse NNP NNP
Electric NNP NNP
Corp. NNP NNP
; : :
Bankers NNPS NNPS
Trust NNP NNP
Co. NNP NNP
, , ,
a DT DT
unit NN NN
of IN IN
Bankers NNPS NNPS
Trust NNP NNP
New NNP NNP
York NNP NNP
Corp. NNP NNP
; : :
and CC CC
a DT DT
group NN NN
of IN IN
Japanese JJ JJ
investors NNS NNS
represented VBN VBN
by IN IN
the DT DT
investment NN NN
banking NN NN
unit NN NN
of IN IN
Tokyo-based JJ JJ
Sumitomo NNP NNP
Bank NNP NNP
. . .
<s>
Bankers NNPS NNPS
Trust NNP NNP
and CC CC
Sumitomo NNP NNP
financed VBN VBD
the DT DT
$ $ $
300 CD CD
million CD CD
acquisition NN NN
from IN IN
Sears NNP NNP
Roebuck NNP NNP
. . .
<s>
Coldwell NNP NNP
Banker NNP NNP
also RB RB
named VBD VBD
three CD CD
outside IN IN
director NN NN
nominees NNS NNS
for IN IN
its PRP$ PRP$
17 CD CD
member NN NN
board NN NN
. . .
<s>
The DT DT
nominees NNS NNS
are VBP VBP
Gary NNP NNP
Wilson NNP NNP
, , ,
chief JJ NN
financial JJ JJ
officer NN NN
of IN IN
Walt NNP NNP
Disney NNP NNP
Co. NNP NNP
; : :
James NNP NNP
Montgomery NNP NNP
, , ,
chief JJ NN
executive JJ NN
officer NN NN
of IN IN
Great NNP NNP
Western NNP NNP
Financial NNP NNP
Corp. NNP NNP
; : :
and CC CC
Peter NNP NNP
Ubberroth NNP NNP
, , ,
former JJ JJ
commissioner NN NN
of IN IN
baseball NN NN
and CC CC
now RB RB
a DT DT
private JJ JJ
investor NN NN
. . .
<s>
The DT DT
first JJ JJ
major JJ JJ
event NN NN
this DT DT
morning NN NN
in IN IN
U.S. NNP NNP
stock NN NN
and CC CC
futures NNS NNS
trading NN NN
may MD MD
be VB VB
a DT DT
pause NN NN
at IN IN
the DT DT
Chicago NNP NNP
Mercantile NNP NNP
Exchange NNP NNP
. . .
<s>
Under IN IN
a DT DT
reform NN NN
arising VBG VBG
from IN IN
the DT DT
1987 CD CD
crash NN NN
, , ,
trading NN VBG
in IN IN
the DT DT
Merc NNP NNP
's POS POS
stock-index NN NN
futures NNS NNS
will MD MD
break VB VB
for IN IN
10 CD CD
minutes NNS NNS
if IN IN
the DT DT
contract NN NN
opens VBZ VBZ
and CC CC
stays VBZ VBZ
five CD CD
points NNS NNS
from IN IN
Friday NNP NNP
's POS POS
close NN NN
, , ,
a DT DT
move NN NN
equal JJ JJ
to TO TO
40 CD CD
points NNS NNS
on IN IN
the DT DT
Dow NNP NNP
Jones NNP NNP
Industrial NNP NNP
Average NNP NNP
. . .
<s>
The DT DT
aim NN NN
of IN IN
the DT DT
interruption NN NN
would MD MD
be VB VB
to TO TO
ease VB VB
the DT DT
opening NN NN
of IN IN
the DT DT
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
, , ,
which WDT WDT
would MD MD
be VB VB
hammered VBN VBN
by IN IN
such PDT PDT
a DT DT
volatile JJ JJ
move NN NN
on IN IN
the DT DT
Merc NNP NNP
. . .
<s>
That DT DT
early-morning JJ NN
breather NN NN
is VBZ VBZ
just RB RB
one CD CD
of IN IN
a DT DT
number NN NN
of IN IN
safeguards NNS NNS
adopted VBN VBN
after IN IN
the DT DT
1987 CD CD
crash NN NN
. . .
<s>
The DT DT
Big NNP NNP
Board NNP NNP
also RB RB
added VBD VBD
computer NN NN
capacity NN NN
to TO TO
handle VB VB
huge JJ JJ
surges VBZ NNS
in IN IN
trading NN NN
volume NN NN
. . .
<s>
Several JJ JJ
of IN IN
those DT DT
post-crash JJ JJ
changes NNS NNS
kicked VBD VBD
in IN RP
during IN IN
Friday NNP NNP
's POS POS
one-hour JJ JJ
collapse NN NN
and CC CC
worked VBD VBD
as IN IN
expected VBN VBN
, , ,
even RB RB
though IN IN
they PRP PRP
did VBD VBD
n't RB RB
prevent VB VB
a DT DT
stunning JJ JJ
plunge NN NN
. . .
<s>
But CC CC
the DT DT
major JJ JJ
`` `` ``
circuit NN NN
breakers NNS NNS
'' '' ''
have VBP VBP
yet RB RB
to TO TO
be VB VB
evaluated VBN VBN
. . .
<s>
A DT DT
deeper JJR JJR
market NN NN
plunge NN NN
today NN NN
could MD MD
give VB VB
them PRP PRP
their PRP$ PRP$
first JJ JJ
test NN NN
. . .
<s>
A DT DT
further JJ JJ
slide NN NN
also RB RB
would MD MD
resurrect VB VB
debate NN NN
over IN IN
a DT DT
host NN NN
of IN IN
other JJ JJ
, , ,
more RBR JJR
sweeping JJ VBG
changes NNS NNS
proposed VBN VBN
-- : :
but CC CC
not RB RB
implemented VBN VBN
-- : :
after IN IN
the DT DT
last JJ JJ
crash NN NN
. . .
<s>
Most RBS RBS
notably RB RB
, , ,
several JJ JJ
of IN IN
the DT DT
regulatory JJ JJ
steps NNS NNS
recommended VBN VBN
by IN IN
the DT DT
Brady NNP NNP
Task NNP NNP
Force NNP NNP
, , ,
which WDT WDT
analyzed VBD VBD
the DT DT
1987 CD CD
crash NN NN
, , ,
would MD MD
be VB VB
revived VBN VBN
-- : :
especially RB RB
because IN IN
that DT DT
group NN NN
's POS POS
chairman NN NN
is VBZ VBZ
now RB RB
the DT DT
Treasury NNP NN
secretary NN NN
. . .
<s>
The DT DT
most RBS RBS
controversial JJ JJ
of IN IN
the DT DT
Brady NNP NNP
recommendations NNS NNS
involved VBD VBD
establishing VBG VBG
a DT DT
single JJ JJ
overarching JJ VBG
regulator NN NN
to TO TO
handle VB VB
crucial JJ JJ
cross-market NN JJ
questions NNS NNS
, , ,
such JJ JJ
as IN IN
setting VBG VBG
consistent JJ JJ
margin NN NN
requirements NNS NNS
for IN IN
the DT DT
stock NN NN
and CC CC
futures NNS NNS
markets NNS NNS
. . .
<s>
But CC CC
for IN IN
the DT DT
moment NN NN
, , ,
attention NN NN
focuses VBZ VBZ
on IN IN
the DT DT
reforms NNS NNS
that WDT WDT
were VBD VBD
put VBN VBN
into IN IN
place NN NN
, , ,
and CC CC
market NN NN
regulators NNS NNS
and CC CC
participants NNS NNS
said VBD VBD
the DT DT
circuit NN NN
breakers NNS NNS
worked VBD VBD
as RB RB
intended VBN VBN
. . .
<s>
Big NNP NNP
Board NNP NNP
and CC CC
Merc NNP NNP
officials NNS NNS
expressed VBD VBD
satisfaction NN NN
with IN IN
the DT DT
results NNS NNS
of IN IN
two CD CD
limits NNS NNS
imposed VBN VBN
on IN IN
of IN IN
the DT DT
Merc NNP NNP
's POS POS
Standard NNP NNP
& CC CC
Poor NNP NNP
's POS POS
500 CD CD
contract NN NN
, , ,
as RB RB
well RB RB
as IN IN
`` `` ``
hot-line JJ NN
'' '' ''
communications NNS NNS
among IN IN
exchanges NNS NNS
. . .
<s>
Those DT DT
pauses VBZ NNS
-- : :
from IN IN
2:07 CD CD
p.m. NN NN
to TO TO
2:30 CD CD
p.m. NN NN
CDT NNP NNP
and CC CC
from IN IN
2:45 CD CD
p.m. NN NN
until IN IN
the DT DT
close NN NN
of IN IN
trading VBG NN
a DT DT
half-hour NN NN
later RB RB
-- : :
forced JJ VBD
traders NNS NNS
to TO TO
buy VB VB
and CC CC
sell VB VB
contracts NNS NNS
at IN IN
prices NNS NNS
at IN IN
or CC CC
higher JJR JJR
than IN IN
their PRP$ PRP$
frozen JJ VBN
levels NNS NNS
. . .
<s>
During IN IN
the DT DT
first JJ JJ
halt NN NN
, , ,
after IN IN
the DT DT
S&P NNP NNP
index NN NN
had VBD VBD
fallen VBN VBN
12 CD CD
points NNS NNS
, , ,
the DT DT
Big NNP NNP
Board NNP NNP
's POS POS
`` `` ``
Sidecar NNP NN
'' '' ''
computer NN NN
program NN NN
automatically RB RB
was VBD VBD
triggered VBN VBN
. . .
<s>
That DT DT
system NN NN
is VBZ VBZ
designed VBN VBN
to TO TO
separate VB VB
computer-generated JJ JJ
program NN NN
trades NNS NNS
from IN IN
all DT DT
other JJ JJ
trades NNS NNS
to TO TO
help VB VB
exchange VB NN
officials NNS NNS
resolve VB VB
order NN NN
imbalances NNS NNS
in IN IN
individual JJ JJ
stocks NNS NNS
. . .
<s>
One CD CD
Merc NNP NNP
broker NN NN
compared VBD VBD
the DT DT
action NN NN
in IN IN
the DT DT
S&P NNP NNP
pit NN NN
during IN IN
the DT DT
two CD CD
freezes VBZ NNS
to TO TO
a DT DT
fire NN NN
at IN IN
a DT DT
well-drilled JJ JJ
school NN NN
. . .
<s>
`` `` ``
You PRP PRP
do VBP VBP
n't RB RB
want VB VB
the DT DT
fire NN NN
but CC CC
you PRP PRP
know VBP VBP
what WP WP
to TO TO
do VB VB
, , ,
'' '' ''
said VBD VBD
Howard NNP NNP
Dubnow NNP NNP
, , ,
an DT DT
independent JJ JJ
floor NN NN
broker NN NN
and CC CC
a DT DT
Merc NNP NNP
governor NN NN
. . .
<s>
`` `` ``
There EX EX
was VBD VBD
no DT DT
panic NN NN
. . .
<s>
The DT DT
system NN NN
worked VBD VBD
the DT DT
way NN NN
we PRP PRP
devised VBD VBD
it PRP PRP
to TO TO
work VB VB
. . .
<s>
'' '' ''
After IN IN
reopening VBG VBG
for IN IN
about IN IN
15 CD CD
minutes NNS NNS
, , ,
the DT DT
S&P NNP NNP
index NN NN
tumbled VBD VBD
to TO TO
its PRP$ PRP$
30-point JJ JJ
limit NN NN
and CC CC
the DT DT
second JJ JJ
freeze NN NN
went VBD VBD
into IN IN
effect NN NN
. . .
<s>
Traders NNS NNS
then RB RB
spent VBD VBD
the DT DT
last JJ JJ
half-hour JJ NN
`` `` ``
watching NN VBG
to TO TO
see VB VB
if IN IN
the DT DT
Dow NNP NNP
would MD MD
drop VB VB
250 CD CD
points NNS NNS
, , ,
'' '' ''
Mr. NNP NNP
Dubnow NNP NNP
added VBD VBD
, , ,
referring VBG VBG
to TO TO
the DT DT
level NN NN
at IN IN
which WDT WDT
the DT DT
stock NN NN
market NN NN
itself PRP PRP
would MD MD
have VB VB
closed VBN VBN
for IN IN
an DT DT
hour NN NN
. . .
<s>
One CD CD
observer NN NN
estimated VBD VBD
that IN IN
80 CD CD
% NN NN
to TO TO
90 CD CD
% NN NN
of IN IN
the DT DT
S&P NNP NNP
traders NNS NNS
`` `` ``
were VBD VBD
just RB RB
standing VBG VBG
around IN IN
watching VBG VBG
. . .
<s>
'' '' ''
But CC CC
the DT DT
250-point JJ JJ
circuit NN NN
breaker NN NN
never RB RB
had VBD VBD
to TO TO
kick VB VB
in RP IN
, , ,
and CC CC
freezes VBZ VBZ
on IN IN
the DT DT
Chicago NNP NNP
Board NNP NNP
of IN IN
Trade NNP NNP
's POS POS
Major NNP NNP
Market NNP NNP
Index NNP NNP
also RB RB
were VBD VBD
n't RB RB
triggered VBN VBN
. . .
<s>
The DT DT
MMI NNP NNP
and CC CC
the DT DT
S&P NNP NNP
500 CD CD
are VBP VBP
the DT DT
two CD CD
major JJ JJ
indexes NNS NNS
used VBN VBN
by IN IN
program NN NN
traders NNS NNS
to TO TO
run VB VB
their PRP$ PRP$
computerized JJ VBN
trading NN NN
strategies NNS NNS
. . .
<s>
The DT DT
programs NNS NNS
are VBP VBP
considered VBN VBN
by IN IN
many JJ JJ
to TO TO
be VB VB
a DT DT
major JJ JJ
cause NN NN
of IN IN
the DT DT
1987 CD CD
crash NN NN
. . .
<s>
The DT DT
process NN NN
of IN IN
post-crash JJ JJ
reforms NNS NNS
began VBD VBD
with IN IN
calls NNS NNS
to TO TO
remake VB VB
the DT DT
markets NNS NNS
and CC CC
wound VB VBD
up RP RP
a DT DT
year NN NN
later RB RB
with IN IN
a DT DT
series NN NN
of IN IN
rather RB RB
technical JJ JJ
adjustments NNS NNS
. . .
<s>
In IN IN
October NNP NNP
1987 CD CD
, , ,
just RB RB
after IN IN
the DT DT
market NN NN
drop NN NN
, , ,
Washington NNP NNP
was VBD VBD
awash : JJ
in IN IN
talk NN NN
of IN IN
sweeping JJ VBG
changes NNS NNS
in IN IN
the DT DT
way NN NN
the DT DT
financial JJ JJ
markets NNS NNS
are VBP VBP
structured VBN VBN
and CC CC
regulated VBN VBN
. . .
<s>
Over IN IN
the DT DT
next JJ JJ
year NN NN
that IN IN
grand JJ JJ
agenda NN NN
was VBD VBD
whittled VBN VBN
down RP RB
to TO TO
a DT DT
series NN NN
of IN IN
steps NNS NNS
to TO TO
soften VB VB
big JJ JJ
stock NN NN
drops NNS NNS
by IN IN
interrupting VBG VBG
trading NN NN
to TO TO
give VB VB
market NN NN
players NNS NNS
time NN NN
to TO TO
pause NN VB
and CC CC
reconsider VB VB
positions NNS NNS
. . .
<s>
In IN IN
addition NN NN
, , ,
limits NNS NNS
were VBD VBD
placed VBN VBN
on IN IN
computer-driven JJ JJ
trading NN NN
, , ,
and CC CC
steps NNS NNS
were VBD VBD
taken VBN VBN
to TO TO
better JJR RB
link VB VB
the DT DT
stock NN NN
and CC CC
futures NNS NNS
markets NNS NNS
. . .
<s>
Few JJ JJ
changes NNS NNS
were VBD VBD
made VBN VBN
in IN IN
the DT DT
way NN NN
the DT DT
markets NNS NNS
are VBP VBP
regulated VBN VBN
. . .
<s>
At IN IN
the DT DT
outset NN NN
the DT DT
prime JJ JJ
target NN NN
was VBD VBD
program NN NN
trading NN NN
, , ,
which WDT WDT
was VBD VBD
much RB RB
discussed VBN VBN
but CC CC
little RB RB
understood VBN VBN
on IN IN
Capitol NNP NNP
Hill NNP NNP
. . .
<s>
There EX EX
were VBD VBD
also RB RB
calls VBZ VBZ
to TO TO
strip VB VB
the DT DT
stock NN NN
markets NNS NNS
of IN IN
`` `` ``
derivative JJ JJ
'' '' ''
products NNS NNS
, , ,
such JJ JJ
as IN IN
stock-index NN JJ
futures NNS NNS
and CC CC
options NNS NNS
, , ,
which WDT WDT
Federal NNP NNP
Judge NNP NNP
Stanley NNP NNP
Sporkin NNP NNP
, , ,
for IN IN
example NN NN
, , ,
likened VBD VBD
to TO TO
`` `` ``
barnacles NNS NNS
attached VBN VBN
to TO TO
the DT DT
basic JJ JJ
market NN NN
. . .
<s>
'' '' ''
And CC CC
there EX EX
was VBD VBD
much JJ JJ
criticism NN NN
of IN IN
the DT DT
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
's POS POS
system NN NN
of IN IN
having VBG VBG
stock NN NN
trades NNS NNS
flow VBP VB
through IN IN
specialists NNS NNS
, , ,
or CC CC
market NN NN
makers NNS NNS
. . .
<s>
When WRB WRB
the DT DT
Brady NNP NNP
Task NNP NNP
Force NNP NNP
's POS POS
powerful JJ JJ
analysis NN NN
of IN IN
the DT DT
crash NN NN
was VBD VBD
released VBN VBN
in IN IN
January NNP NNP
1988 CD CD
, , ,
it PRP PRP
immediately RB RB
reshaped VBN VBD
the DT DT
reformers NNS NNS
' POS POS
agenda NN NN
. . .
<s>
Arguing VBG VBG
that IN IN
the DT DT
separate JJ JJ
financial JJ JJ
marketplaces NNS NNS
acted VBN VBD
as IN IN
one CD CD
, , ,
and CC CC
concluding VBG VBG
that IN IN
the DT DT
crash NN NN
had VBD VBD
`` `` ``
raised VBN VBN
the DT DT
possibility NN NN
of IN IN
a DT DT
full-scale JJ JJ
financial JJ JJ
system NN NN
breakdown NN NN
, , ,
'' '' ''
the DT DT
presidential JJ JJ
task NN NN
force NN NN
called VBD VBD
for IN IN
establishing VBG VBG
a DT DT
super-regulator NN NN
to TO TO
oversee VB VB
the DT DT
markets NNS NNS
, , ,
to TO TO
make VB VB
margins NNS NNS
consistent JJ JJ
across IN IN
markets NNS NNS
, , ,
to TO TO
unify JJ VB
clearing NN VBG
systems NNS NNS
and CC CC
to TO TO
install VB VB
circuit NN NN
breakers NNS NNS
. . .
<s>
Only RB RB
the DT DT
last JJ JJ
of IN IN
those DT DT
recommendations NNS NNS
ever RB RB
was VBD VBD
implemented VBN VBN
. . .
<s>
The DT DT
Reagan NNP NNP
White NNP NNP
House NNP NNP
held VBD VBD
the DT DT
Brady NNP NNP
recommendations NNS NNS
at IN IN
arm NN NN
's POS POS
length NN NN
and CC CC
named VBD VBD
a DT DT
second JJ JJ
panel NN NN
-- : :
the DT DT
Working NNP NNP
Group NNP NNP
on IN IN
the DT DT
Financial NNP NNP
Markets NNPS NNPS
-- : :
to TO TO
review VB VB
its PRP$ PRP$
analysis NN NN
and CC CC
those DT DT
of IN IN
other JJ JJ
crash NN NN
studies NNS NNS
. . .
<s>
In IN IN
May NNP NNP
1988 CD CD
, , ,
the DT DT
Working NNP NNP
Group NNP NNP
, , ,
made VBD VBD
up RP RP
of IN IN
representatives NNS NNS
from IN IN
the DT DT
Federal NNP NNP
Reserve NNP NNP
, , ,
the DT DT
Treasury NNP NNP
, , ,
the DT DT
Securities NNPS NNPS
and CC CC
Exchange NNP NNP
Commission NNP NNP
, , ,
and CC CC
the DT DT
Commodity NNP NNP
Futures NNPS NNPS
Trading NNP NNP
Commission NNP NNP
, , ,
finally RB RB
endorsed VBD VBD
only JJ JJ
circuit NN NN
breakers NNS NNS
. . .
<s>
After IN IN
several JJ JJ
more JJR JJR
months NNS NNS
of IN IN
arguments NNS NNS
among IN IN
various JJ JJ
stock NN NN
exchanges NNS NNS
and CC CC
futures NNS NNS
markets NNS NNS
, , ,
circuit NN NN
breakers NNS NNS
were VBD VBD
set VBN VBN
in IN IN
place NN NN
, , ,
with IN IN
the DT DT
most RBS RBS
notable JJ JJ
suspending VBG VBG
trading NN NN
after IN IN
250 CD CD
and CC CC
400 CD CD
point NN NN
drops NNS NNS
in IN IN
the DT DT
Dow NNP NNP
Jones NNP NNP
Industrial NNP NNP
Average NNP NNP
. . .
<s>
Privately RB RB
, , ,
some DT DT
free JJ JJ
marketeers NNS NNS
dismissed VBD VBD
such JJ JJ
mechanisms NNS NNS
as IN IN
sops NNS NNS
to TO TO
interventionists : NNS
. . .
<s>
After IN IN
all DT DT
, , ,
this DT DT
free-market JJ NN
argument NN NN
went VBD VBD
, , ,
the DT DT
Dow NNP NNP
only RB RB
dropped VBD VBD
more JJR JJR
than IN IN
250 CD CD
points NNS NNS
once RB RB
this DT DT
century NN NN
. . .
<s>
`` `` ``
Circuit NN NN
breakers NNS NNS
'' '' ''
set VBN VBN
to TO TO
soften VB VB
big JJ JJ
drops NNS NNS
: : :
-- : :
If IN IN
S&P NNP NNP
futures NNS NNS
fall VBP VBP
5 CD CD
points NNS NNS
at IN IN
opening VBG NN
, , ,
contract NN NN
trading NN NN
pauses VBZ VBZ
for IN IN
10 CD CD
minutes NNS NNS
. . .
<s>
-- : :
If IN IN
Dow NNP NNP
Industrials NNP NNPS
fall NN VBP
25 CD CD
points NNS NNS
at IN IN
opening VBG NN
, , ,
contract NN NN
trading NN NN
pauses VBZ VBZ
for IN IN
10 CD CD
minutes NNS NNS
. . .
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-- : :
If IN IN
S&P NNP NNP
futures NNS NNS
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points NNS NNS
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equivalent JJ NN
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points NNS NNS
on IN IN
DJIA NNP NNP
) ) )
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trading NN NN
is VBZ VBZ
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for IN IN
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or CC CC
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. . .
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NYSE NNP NNP
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into IN IN
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determine VB VB
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and CC CC
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. . .
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futures NNS NNS
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trading NN NN
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for IN IN
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or CC CC
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<s>
-- : :
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Dow NNP NNP
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fall NN VBP
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trading VBG NN
on IN IN
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halts NNS VBZ
for IN IN
an DT DT
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. . .
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and CC CC
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. . .
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-- : :
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drops VBZ VBZ
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points NNS NNS
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halts NNS VBZ
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for IN IN
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hours NNS NNS
. . .
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in IN IN
MMI NNP NNP
and CC CC
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futures NNS NNS
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Jan. NNP NNP
1988 CD CD
) ) )
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-- : :
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an DT DT
overarching JJ VBG
regulator NN NN
for IN IN
financial JJ JJ
markets NNS NNS
-- : :
Unify NNP VB
trade-clearing : JJ
systems NNS NNS
-- : :
Make VBP VB
margins NNS NNS
consistent JJ JJ
across IN IN
stock NN NN
and CC CC
futures NNS NNS
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SEC NNP NNP
proposals NNS NNS
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May NNP NNP
1988 CD CD
) ) )
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of IN IN
large JJ JJ
securities NNS NNS
trades NNS NNS
. . .
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Give VB VB
SEC NNP NNP
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to TO TO
monitor VB VB
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by IN IN
affiliates NNS NNS
of IN IN
brokerage NN NN
firms NNS NNS
. . .
<s>
-- : :
Transfer NN NN
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over IN IN
stock-related JJ JJ
futures NNS NNS
to TO TO
SEC NNP NNP
from IN IN
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. . .
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( ( (
Opposed VBN VBN
by IN IN
new JJ JJ
SEC NNP NNP
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) ) )
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SEC NNP NNP
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to TO TO
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securities NNS NNS
trading NN NN
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also RB RB
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by IN IN
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to TO TO
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of IN IN
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. . .
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's POS POS
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rights NNS NNS
to TO TO
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programming NN NN
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. . .
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of IN IN
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for IN IN
both DT DT
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and CC CC
viewers NNS NNS
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I. NNP NNP
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, , ,
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of IN IN
the DT DT
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in IN IN
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and CC CC
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on IN IN
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in IN IN
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, , ,
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said VBD VBD
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Nedelya NNP NNP
that IN IN
he PRP PRP
recently RB RB
had VBD VBD
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to TO TO
the DT DT
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to TO TO
pick VB VB
up RP RP
the DT DT
rights NNS NNS
to TO TO
show VB VB
5,000 CD CD
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films NNS NNS
in IN IN
the DT DT
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. . .
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's POS POS
article NN NN
was VBD VBD
accompanied VBN VBN
by IN IN
a DT DT
picture NN NN
of IN IN
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in IN IN
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. . .
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of IN IN
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of IN IN
the DT DT
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. . .
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's POS POS
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of IN IN
Mineworkers NNPS NNPS
said VBD VBD
that IN IN
about IN IN
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miners NNS NNS
struck VBD VBN
for IN IN
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wages NNS NNS
at IN IN
De NNP NNP
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that IN IN
workers NNS NNS
at IN IN
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of IN IN
the DT DT
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were VBD VBD
on IN IN
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at IN IN
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of IN IN
the DT DT
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. . .
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in IN IN
negotiations NNS NNS
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with IN IN
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17 CD CD
% NN NN
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in IN IN
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that IN IN
its PRP$ PRP$
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bribed VBN VBN
by IN IN
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owners NNS NNS
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had VBD VBD
been VBN VBN
raised VBN VBN
in IN IN
Parliament NNP NNP
by IN IN
the DT DT
governing VBG VBG
Liberal NNP NNP
Democratic NNP NNP
Party NNP NNP
following VBG VBG
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reports NNS NNS
suggesting VBG VBG
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from IN IN
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, , ,
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of IN IN
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, , ,
acknowledged VBD VBD
that IN IN
nine CD CD
party NN NN
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had VBD VBD
received VBN VBN
donations NNS NNS
from IN IN
the DT DT
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association NN NN
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8 CD CD
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about IN IN
$ $ $
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) ) )
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said VBD VBD
the DT DT
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were VBD VBD
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and CC CC
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of IN IN
its PRP$ PRP$
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acted VBD VBD
to TO TO
favor VB VB
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. . .
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for IN IN
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that IN IN
Spain NNP NNP
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and CC CC
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in IN IN
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across IN IN
their PRP$ PRP$
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. . .
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at IN IN
the DT DT
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on IN IN
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in IN IN
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in IN IN
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of IN IN
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from IN IN
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to TO TO
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trade NN NN
in IN IN
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to TO TO
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of IN IN
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to TO TO
build VB VB
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frigate NN NN
for IN IN
the DT DT
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by IN IN
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of IN IN
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of IN IN
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nations NNS NNS
. . .
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for IN IN
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, , ,
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to TO TO
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among IN IN
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to TO TO
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to TO TO
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spending NN NN
while IN IN
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of IN IN
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controls NNS NNS
. . .
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after IN IN
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's POS POS
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to TO TO
be VB VB
the DT DT
first JJ RB
linked VBN VBN
to TO TO
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British JJ JJ
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party NN NN
. . .
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gets VBZ VBZ
25 CD CD
pence NN NN
( ( (
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cents NNS NNS
) ) )
for IN IN
every DT DT
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( ( (
about IN IN
$ $ $
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) ) )
that IN IN
a DT DT
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charges VBZ VBZ
to TO TO
the DT DT
card NN NN
. . .
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As IN IN
with IN IN
other JJ JJ
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in IN IN
Britain NNP NNP
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card NN NN
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by IN IN
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in IN IN
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, , ,
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rate NN NN
on IN IN
the DT DT
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balance NN NN
. . .
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's POS POS
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program NN NN
has VBZ VBZ
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successes NNS NNS
in IN IN
harnessing VBG VBG
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economic JJ JJ
growth NN NN
and CC CC
stabilizing VBG VBG
prices NNS NNS
but CC CC
has VBZ VBZ
failed VBN VBN
to TO TO
eliminate VB VB
serious JJ JJ
defects NNS NNS
in IN IN
state NN NN
planning NN NN
and CC CC
an DT DT
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on IN IN
state NN NN
budgets NNS NNS
. . .
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official JJ JJ
China NNP NNP
Daily NNP NNP
said VBD VBD
retail JJ JJ
prices NNS NNS
of IN IN
non-staple JJ JJ
foods NNS NNS
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n't RB RB
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since IN IN
last JJ JJ
December NNP NNP
but CC CC
acknowledged VBD VBD
that IN DT
huge JJ JJ
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subsidies NNS NNS
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in IN IN
keeping VBG VBG
prices NNS NNS
down RB IN
. . .
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State NNP NNP
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found VBD VBD
that IN IN
more JJR RBR
than IN IN
1 CD CD
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) ) )
was VBD VBD
spent VBN VBN
in IN IN
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of IN IN
the DT DT
year NN NN
for IN IN
pork NN NN
subsidies NNS NNS
. . .
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newspaper NN NN
quoted VBD VBD
experts NNS NNS
as IN IN
saying VBG VBG
the DT DT
subsidies NNS NNS
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cause VB VB
the DT DT
difference NN NN
between IN IN
prices NNS NNS
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of IN IN
commodities NNS NNS
to TO TO
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and CC CC
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for IN IN
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in IN IN
the DT DT
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aim NN NN
of IN IN
the DT DT
austerity NN NN
measures NNS NNS
was VBD VBD
to TO TO
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soared VBD VBD
to TO TO
20.7 CD CD
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, , ,
to TO TO
8 CD CD
% NN NN
in IN IN
1990 CD CD
. . .
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now RB RB
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rate NN NN
will MD MD
be VB VB
about RB IN
11.5 CD CD
% NN NN
for IN IN
the DT DT
year NN NN
. . .
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of IN IN
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tolerance NN NN
for IN IN
religion NN NN
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were VBD VBD
allowed VBN VBN
to TO TO
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the DT DT
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of IN IN
the DT DT
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, , ,
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of IN IN
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was VBD VBD
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on IN IN
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, , ,
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of IN IN
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of IN IN
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Products NNPS NNPS
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as IN IN
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word NN NN
on IN IN
the DT DT
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. . .
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is VBZ VBZ
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remarked VBD VBD
, , ,
after IN IN
seeing VBG VBG
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and CC CC
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. . .
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: : :
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'' '' ''
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carried VBD VBD
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those DT DT
of IN IN
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of IN IN
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instead RB RB
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from IN IN
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it PRP PRP
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, , ,
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for IN IN
Sony NNP NNP
. . .
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later RB RB
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as IN IN
a DT DT
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the DT DT
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filed VBD VBD
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in IN IN
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of IN IN
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and CC CC
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of IN IN
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law NN NN
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then RB RB
, , ,
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lot NN NN
for IN IN
61-year-old JJ JJ
Leonard NNP NNP
Kaye NNP NNP
, , ,
Justin NNP NNP
's POS POS
owner NN NN
. . .
<s>
`` `` ``
I PRP PRP
have VBP VBP
n't RB RB
been VBN VBN
able JJ JJ
to TO TO
get VB VB
a DT DT
decent JJ JJ
night NN NN
's POS POS
sleep NN NN
since IN IN
this DT DT
has VBZ VBZ
been VBN VBN
going VBG VBG
on IN IN
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
`` `` ``
It PRP PRP
's VBZ VBZ
the DT DT
most RBS RBS
distracting JJ VBG
thing NN NN
in IN IN
my PRP$ PRP$
life NN NN
-- : :
I PRP PRP
ca MD MD
n't RB RB
even RB RB
attend VB VB
to TO TO
my PRP$ PRP$
business NN NN
. . .
<s>
'' '' ''
His PRP$ PRP$
company NN NN
( ( (
annual JJ JJ
sales NNS NNS
: : :
about IN IN
$ $ $
25 CD CD
million CD CD
) ) )
may MD MD
suffer VB VB
a DT DT
costly JJ JJ
blow NN NN
-- : :
losing VBG VBG
an DT DT
estimated VBN VBN
10 CD CD
% NN NN
of IN IN
total JJ JJ
sales NNS NNS
-- : :
if IN IN
Sony NNP NNP
( ( (
annual JJ JJ
sales NNS NNS
: : :
about IN IN
$ $ $
16 CD CD
billion CD CD
) ) )
prevails VBZ VBZ
. . .
<s>
Justin NNP NNP
's POS POS
plight NN NN
shows VBZ VBZ
what WP WP
can MD MD
happen VB VB
when WRB WRB
a DT DT
tiny JJ JJ
company NN NN
suddenly RB RB
faces VBZ VBZ
the DT DT
full JJ JJ
legal JJ JJ
might NN NN
of IN IN
a DT DT
wrathful JJ JJ
multinational JJ JJ
. . .
<s>
With IN IN
considerable JJ JJ
irony NN NN
, , ,
the DT DT
case NN NN
also RB RB
shows VBZ VBZ
how WRB WRB
completely RB RB
Japan NNP NNP
has VBZ VBZ
turned VBN VBN
the DT DT
tables NNS NNS
on IN IN
U.S. NNP NNP
business NN NN
. . .
<s>
Americans NNPS NNPS
used VBD VBD
to TO TO
complain VB VB
bitterly RB RB
about IN IN
being VBG VBG
undersold NN NN
by IN IN
look-alike JJ JJ
products NNS NNS
from IN IN
Japan NNP NNP
. . .
<s>
Now RB RB
Sony NNP NNP
, , ,
whose WP$ WP$
innovative JJ JJ
, , ,
premium-priced JJ JJ
products NNS NNS
are VBP VBP
among IN IN
the DT DT
most RBS RBS
admired VBD VBN
in IN IN
consumer NN NN
electronics NNS NNS
, , ,
is VBZ VBZ
bitterly RB RB
complaining VBG VBG
about IN IN
a DT DT
little JJ JJ
U.S. NNP NNP
firm NN NN
with IN IN
a DT DT
cheap JJ JJ
look-alike JJ NN
produced VBN VBN
in IN IN
China NNP NNP
. . .
<s>
`` `` ``
The DT DT
gist NN NN
of IN IN
this DT DT
is VBZ VBZ
that IN DT
Justin NNP NNP
knocked VBD VBD
off RP RP
the DT DT
Sony NNP NNP
line NN NN
and CC CC
Sony NNP NNP
wants VBZ VBZ
to TO TO
stop VB VB
it PRP PRP
, , ,
'' '' ''
says VBZ VBZ
Lewis NNP NNP
H. NNP NNP
Eslinger NNP NNP
, , ,
Sony NNP NNP
's POS POS
attorney NN NN
, , ,
who WP WP
previously RB RB
guarded VBN VBD
Rubik NNP NNP
's POS POS
Cube NNP NNP
. . .
<s>
( ( (
Sony NNP NNP
itself PRP PRP
declines VBZ VBZ
to TO TO
comment VB VB
. . .
<s>
) ) )
If IN IN
Sony NNP NNP
wins VBZ VBZ
, , ,
Mr. NNP NNP
Eslinger NNP NNP
says VBZ VBZ
, , ,
its PRP$ PRP$
little JJ JJ
rival NN NN
will MD MD
have VB VB
to TO TO
try VB VB
to TO TO
sell VB VB
the DT DT
products NNS NNS
overseas RB RB
. . .
<s>
At IN IN
worst JJS JJS
, , ,
he PRP PRP
adds VBZ VBZ
, , ,
`` `` ``
They PRP PRP
'd MD MD
have VB VB
to TO TO
grind VB VB
them PRP PRP
all DT DT
up RP IN
and CC CC
throw VB VB
them PRP PRP
away RB RB
. . .
<s>
'' '' ''
Mr. NNP NNP
Kaye NNP NNP
denies VBZ VBZ
the DT DT
suit NN NN
's POS POS
charges NNS NNS
and CC CC
says VBZ VBZ
his PRP$ PRP$
only JJ JJ
mistake NN NN
was VBD VBD
taking VBG VBG
on RP RP
Sony NNP NNP
in IN IN
the DT DT
marketplace NN NN
. . .
<s>
`` `` ``
I PRP PRP
made VBD VBD
a DT DT
similar JJ JJ
line NN NN
and CC CC
I PRP PRP
produced VBD VBD
it PRP PRP
cheaper JJR JJR
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
Today NN NN
, , ,
U.S. NNP NNP
Judge NNP NNP
John NNP NNP
E. NNP NNP
Sprizzo NNP NNP
is VBZ VBZ
expected VBN VBN
to TO TO
rule VB VB
on IN IN
Sony NNP NNP
's POS POS
renewed VBN VBN
request NN NN
for IN IN
a DT DT
pre-trial JJ JJ
order NN NN
blocking VBG VBG
sale NN NN
of IN IN
the DT DT
disputed VBN VBN
products NNS NNS
, , ,
on IN IN
which WDT WDT
deliveries NNS NNS
began VBD VBD
in IN IN
July NNP NNP
. . .
<s>
The DT DT
judge NN NN
turned VBD VBD
down RP RP
an DT DT
earlier JJR JJR
Sony NNP NNP
request NN NN
for IN IN
such JJ PDT
an DT DT
order NN NN
-- : :
a DT DT
decision NN NN
upheld VBN VBN
on IN IN
appeal NN NN
-- : :
but CC CC
Sony NNP NNP
returned VBD VBD
with IN IN
additional JJ JJ
evidence NN NN
and CC CC
arguments NNS NNS
. . .
<s>
Though IN IN
hoping VBG VBG
to TO TO
settle VB VB
the DT DT
case NN NN
, , ,
Justin NNP NNP
vows VBZ VBZ
to TO TO
fight VB VB
on IN IN
, , ,
if IN IN
necessary JJ JJ
. . .
<s>
But CC CC
the DT DT
battle NN NN
is VBZ VBZ
more JJR JJR
than IN IN
Justin NNP NNP
bargained VBN VBD
for IN IN
. . .
<s>
`` `` ``
I PRP PRP
had VBD VBD
no DT DT
idea NN NN
I PRP PRP
was VBD VBD
getting VBG VBG
in IN IN
so RB RB
deep JJ JJ
, , ,
'' '' ''
says VBZ VBZ
Mr. NNP NNP
Kaye NNP NNP
, , ,
who WP WP
founded VBD VBD
Justin NNP NNP
in IN IN
1982 CD CD
. . .
<s>
Mr. NNP NNP
Kaye NNP NNP
had VBD VBD
sold VBN VBN
Capetronic NNP NNP
Inc. NNP NNP
, , ,
a DT DT
Taiwan NNP NNP
electronics NNS NNS
maker NN NN
, , ,
and CC CC
retired VBD VBD
, , ,
only RB RB
to TO TO
find VB VB
he PRP PRP
was VBD VBD
bored VBN VBN
. . .
<s>
With IN IN
Justin NNP NNP
, , ,
he PRP PRP
began VBD VBD
selling VBG VBG
toys NNS NNS
and CC CC
electronics NNS NNS
made VBN VBN
mostly RB RB
in IN IN
Hong NNP NNP
Kong NNP NNP
, , ,
beginning VBG NN
with IN IN
Mickey NNP NNP
Mouse NNP NNP
radios NNS NNS
. . .
<s>
The DT DT
company NN NN
has VBZ VBZ
grown VBN VBN
-- : :
to TO TO
about IN IN
40 CD CD
employees NNS NNS
, , ,
from IN IN
four CD CD
initially RB RB
, , ,
Mr. NNP NNP
Kaye NNP NNP
says VBZ VBZ
. . .
<s>
Justin NNP NNP
has VBZ VBZ
been VBN VBN
profitable JJ JJ
since IN IN
1986 CD CD
, , ,
adds VBZ VBZ
the DT DT
official NN NN
, , ,
who WP WP
shares VBZ VBZ
his PRP$ PRP$
office NN NN
with IN IN
numerous JJ JJ
teddy NN NN
bears NNS VBZ
, , ,
all DT DT
samples NNS NNS
from IN IN
his PRP$ PRP$
line NN NN
of IN IN
plush JJ JJ
toys NNS NNS
. . .
<s>
Like IN IN
many JJ JJ
others NNS NNS
, , ,
Mr. NNP NNP
Kaye NNP NNP
took VBD VBD
notice NN NN
in IN IN
1987 CD CD
when WRB WRB
Sony NNP NNP
, , ,
in IN IN
a DT DT
classic JJ JJ
example NN NN
of IN IN
market NN NN
segmentation NN NN
, , ,
changed VBD VBD
the DT DT
plastic NN JJ
skin NN NN
and CC CC
buttons NNS NNS
on IN IN
the DT DT
famous JJ JJ
Walkman NNP NNP
line NN NN
of IN IN
portable JJ JJ
audio JJ JJ
equipment NN NN
and CC CC
created VBD VBD
the DT DT
My PRP$ NNP
First NNP NNP
Sony NNP NNP
line NN NN
for IN IN
children NNS NNS
. . .
<s>
The DT DT
brightly RB RB
colored VBN VBN
new JJ JJ
products NNS NNS
looked VBD VBD
more JJR JJR
like IN IN
toys NNS NNS
than IN IN
the DT DT
adult NN NN
models NNS NNS
. . .
<s>
( ( (
In IN IN
court NN NN
papers NNS NNS
, , ,
Sony NNP NNP
says VBZ VBZ
it PRP PRP
has VBZ VBZ
spent VBN VBN
more JJR RBR
than IN IN
$ $ $
3 CD CD
million CD CD
to TO TO
promote VB VB
the DT DT
line NN NN
, , ,
with IN IN
resulting VBG VBG
sales NNS NNS
of IN IN
over IN IN
a DT DT
million CD CD
units NNS NNS
. . .
<s>
) ) )
Sony NNP NNP
found VBD VBD
a DT DT
new JJ JJ
market NN NN
niche NN NN
, , ,
but CC CC
Mr. NNP NNP
Kaye NNP NNP
figured VBD VBD
that IN IN
its PRP$ PRP$
prices NNS NNS
left VBD VBD
plenty NN NN
of IN IN
room NN NN
for IN IN
a DT DT
lower-priced JJ JJ
competitor NN NN
. . .
<s>
His PRP$ PRP$
products NNS NNS
are VBP VBP
n't RB RB
exact JJ JJ
copies NNS NNS
of IN IN
Sony NNP NNP
's POS POS
but CC CC
strongly RB RB
resemble VB VBP
them PRP PRP
in IN IN
size NN NN
, , ,
shape NN NN
and CC CC
, , ,
especially RB RB
, , ,
color NN NN
. . .
<s>
Sony NNP NNP
uses VBZ VBZ
mostly RB RB
red JJ JJ
and CC CC
blue JJ JJ
, , ,
with IN IN
traces NNS NNS
of IN IN
yellow NN JJ
-- : :
and CC CC
so RB RB
does VBZ VBZ
Justin NNP NNP
, , ,
on IN IN
the DT DT
theory NN NN
that IN IN
kids NNS NNS
prefer VBP VBP
these DT DT
colors NNS NNS
. . .
<s>
( ( (
`` `` ``
To TO NN
be VB VB
successful JJ JJ
, , ,
a DT DT
product NN NN
can MD MD
be VB VB
any DT DT
color NN NN
whatsoever RB RB
, , ,
as RB RB
long RB RB
as IN IN
it PRP PRP
is VBZ VBZ
fire-engine JJ JJ
red NN JJ
, , ,
'' '' ''
says VBZ VBZ
Charles NNP NNP
E. NNP NNP
Baxley NNP NNP
, , ,
Justin NNP NNP
's POS POS
attorney NN NN
. . .
<s>
) ) )
By IN IN
last JJ JJ
winter NN NN
, , ,
Justin NNP NNP
was VBD VBD
showing VBG VBG
prototypes NNS NNS
at IN IN
toy NN JJ
fairs NNS NNS
in IN IN
Hong NNP NNP
Kong NNP NNP
and CC CC
New NNP NNP
York NNP NNP
-- : :
and CC CC
Sony NNP NNP
noticed VBD VBD
. . .
<s>
Indeed RB RB
, , ,
concerned VBD VBD
that IN IN
Sony NNP NNP
sales NNS NNS
personnel NNS NNS
were VBD VBD
threatening VBG VBG
legal JJ JJ
action NN NN
or CC CC
other JJ JJ
retaliation NN NN
-- : :
such JJ JJ
as IN IN
withholding VBG VBG
desirable JJ JJ
Sony NNP NNP
products NNS NNS
-- : :
against IN IN
Justin NNP NNP
's POS POS
customers NNS NNS
, , ,
Mr. NNP NNP
Baxley NNP NNP
fired VBD VBD
off RP RP
a DT DT
letter NN NN
to TO TO
Sony NNP NNP
in IN IN
April NNP NNP
. . .
<s>
He PRP PRP
himself PRP PRP
threatened VBD VBD
to TO TO
take VB VB
the DT DT
matter NN NN
to TO TO
the DT DT
Federal NNP NNP
Trade NNP NNP
Commission NNP NNP
or CC CC
U.S. NNP NNP
Justice NNP NNP
Department NNP NNP
. . .
<s>
But CC CC
Justin NNP NNP
has VBZ VBZ
n't RB RB
pursued VBN VBN
those DT DT
charges NNS NNS
( ( (
which WDT WDT
were VBD VBD
without IN IN
merit NN NN
, , ,
according VBG VBG
to TO TO
Mr. NNP NNP
Eslinger NNP NNP
, , ,
the DT DT
Sony NNP NNP
attorney NN NN
) ) )
. . .
<s>
Recalls : VBZ
Mr. NNP NNP
Baxley NNP NNP
: : :
`` `` ``
Our PRP$ PRP$
purpose NN NN
was VBD VBD
to TO TO
influence VB VB
them PRP PRP
to TO TO
leave VB VB
us PRP PRP
alone RB RB
. . .
<s>
We PRP PRP
never RB RB
intended VBD VBD
taking VBG VBG
on IN RP
Sony NNP NNP
-- : :
we PRP PRP
do VBP VBP
n't RB RB
have VB VB
the DT DT
resources NNS NNS
. . .
<s>
'' '' ''
Sony NNP NNP
answered VBD VBD
the DT DT
empty JJ JJ
threat NN NN
with IN IN
its PRP$ PRP$
real JJ JJ
suit NN NN
. . .
<s>
Off IN IN
and CC CC
on IN IN
since IN IN
then RB RB
, , ,
the DT DT
companies NNS NNS
have VBP VBP
skirmished VBN VBN
in IN IN
court NN NN
. . .
<s>
And CC CC
Justin NNP NNP
, , ,
in IN IN
a DT DT
news NN NN
release NN NN
, , ,
says VBZ VBZ
, , ,
`` `` ``
Once RB RB
competitive JJ JJ
, , ,
Sony NNP NNP
now RB RB
resorts VBZ VBZ
to TO TO
strong-arm JJ JJ
tactics NNS NNS
in IN IN
American JJ JJ
courtrooms NNS NNS
to TO TO
carve VBP VB
out RP RP
and CC CC
protect VB VB
niche NN NN
markets NNS NNS
. . .
<s>
'' '' ''
Sony NNP NNP
's POS POS
lawyer NN NN
insists VBZ VBZ
that IN IN
the DT DT
company NN NN
's POS POS
tactics NNS NNS
-- : :
including VBG VBG
the DT DT
use NN NN
of IN IN
a DT DT
private JJ JJ
detective NN NN
posing VBG VBG
as IN IN
a DT DT
buyer NN NN
-- : :
are VBP VBP
routine JJ JJ
in IN IN
such JJ JJ
matters NNS NNS
. . .
<s>
He PRP PRP
also RB RB
insists VBZ VBZ
that IN IN
Sony NNP NNP
, , ,
no RB RB
less JJR JJR
than IN IN
others NNS NNS
, , ,
has VBZ VBZ
a DT DT
legal JJ JJ
right NN NN
to TO TO
protect VB VB
its PRP$ PRP$
`` `` ``
trade NN NN
dress NN NN
, , ,
'' '' ''
in IN IN
this DT DT
case NN NN
, , ,
mostly RB RB
the DT DT
colors NNS NNS
that IN IN
it PRP PRP
claims VBZ VBZ
make VB VB
My PRP$ NNP
First NNP NNP
Sony NNP NNP
products NNS NNS
distinctive JJ JJ
. . .
<s>
( ( (
Justin NNP NNP
claims VBZ VBZ
it PRP PRP
began VBD VBD
using VBG VBG
the DT DT
same JJ JJ
colors NNS NNS
on IN IN
electronic JJ JJ
goods NNS NNS
for IN IN
children NNS NNS
long RB JJ
before IN IN
Sony NNP NNP
entered VBD VBD
the DT DT
children NNS NNS
's POS POS
market NN NN
. . .
<s>
) ) )
Whatever WDT WDT
its PRP$ PRP$
merits NNS NNS
, , ,
Sony NNP NNP
's POS POS
aggressive JJ JJ
defense NN NN
is VBZ VBZ
debilitating VBG JJ
for IN IN
Justin NNP NNP
. . .
<s>
It PRP PRP
's VBZ VBZ
also RB RB
costly JJ JJ
. . .
<s>
Mr. NNP NNP
Kaye NNP NNP
says VBZ VBZ
he PRP PRP
has VBZ VBZ
paid VBN VBN
more JJR RBR
than IN IN
$ $ $
70,000 CD CD
in IN IN
legal JJ JJ
fees NNS NNS
so RB RB
far RB RB
. . .
<s>
Of IN IN
Sony NNP NNP
, , ,
Mr. NNP NNP
Kaye NNP NNP
says VBZ VBZ
: : :
`` `` ``
They PRP PRP
know VBP VBP
there EX EX
's VBZ VBZ
no DT DT
way NN NN
for IN IN
them PRP PRP
to TO TO
lose VB VB
. . .
<s>
They PRP PRP
just RB RB
keep VBP VBP
digging VBG VBG
me PRP PRP
in IN IN
deeper JJR JJR
until IN IN
I PRP PRP
reach VBP VBP
the DT DT
point NN NN
where WRB WRB
I PRP PRP
give VBP VBP
up RP IN
and CC CC
go VB VBP
away RB RB
. . .
<s>
'' '' ''
For IN IN
now RB RB
, , ,
though RB RB
, , ,
he PRP PRP
vows VBZ VBZ
to TO TO
hang VB VB
in RP IN
. . .
<s>
@ IN IN
Charles NNP NNP
H. NNP NNP
Tenney NNP NNP
II NNP NNP
, , ,
chairman NN NN
of IN IN
Unitil NNP NNP
Corp. NNP NNP
, , ,
purchased VBD VBD
34,602 CD CD
shares NNS NNS
, , ,
or CC CC
4.9 CD CD
% NN NN
, , ,
of IN IN
Unitil NNP NNP
's POS POS
common JJ NN
, , ,
according VBG VBG
to TO TO
a DT DT
filing NN NN
with IN IN
the DT DT
Securities NNPS NNPS
and CC CC
Exchange NNP NNP
Commission NNP NNP
. . .
<s>
The DT DT
stock NN NN
was VBD VBD
bought VBN VBN
on IN IN
Thursday NNP NNP
in IN IN
a DT DT
privately RB RB
negotiated VBN VBN
transaction NN NN
, , ,
the DT DT
filing NN NN
said VBD VBD
. . .
<s>
As IN IN
previously RB RB
reported VBN VBN
, , ,
Unitil NNP NNP
, , ,
Exeter NNP NNP
, , ,
N.H. NNP NNP
, , ,
and CC CC
Fitchburg NNP NNP
Gas NNP NNP
& CC CC
Electric NNP NNP
Co. NNP NNP
, , ,
Fitchburg NNP NNP
, , ,
Mass. NNP NNP
, , ,
are VBP VBP
targets NNS NNS
of IN IN
unsolicited JJ JJ
tender NN NN
offers NNS VBZ
from IN IN
Boston-based JJ JJ
Eastern NNP NNP
Utilities NNPS NNPS
Associates NNPS NNPS
. . .
<s>
Eastern NNP NNP
Utilities NNP NNPS
has VBZ VBZ
offered VBN VBN
$ $ $
40 CD CD
a DT DT
share NN NN
for IN IN
Unitil NNP NNP
and CC CC
$ $ $
36 CD CD
a DT DT
share NN NN
for IN IN
Fitchburg NNP NNP
Gas NNP NNP
and CC CC
has VBZ VBZ
extended VBN VBN
both DT DT
offers NNS NNS
to TO TO
Dec. NNP NNP
4 CD CD
. . .
<s>
Both DT DT
companies NNS NNS
rejected VBD VBD
the DT DT
offers NNS NNS
. . .
<s>
Dresdner NNP NNP
Bank NNP NNP
AG NNP NNP
of IN IN
West NNP NNP
Germany NNP NNP
has VBZ VBZ
announced VBN VBN
a DT DT
friendly JJ JJ
tender NN NN
offer NN NN
for IN IN
control NN NN
of IN IN
Banque NNP NNP
Internationale NNP NNP
de IN IN
Placements NNP NNP
, , ,
a DT DT
French JJ JJ
bank NN NN
whose WP$ WP$
main JJ JJ
shareholder NN NN
is VBZ VBZ
France NNP NNP
's POS POS
Societe NNP NNP
Generale NNP NNP
, , ,
the DT DT
Societe NNP NNP
de IN FW
Bourses NNP NNP
Francaises NNP NNP
said VBD VBD
. . .
<s>
The DT DT
tender NN NN
offer NN NN
by IN IN
West NNP NNP
Germany NNP NNP
's POS POS
second-biggest JJ JJ
commercial JJ JJ
bank NN NN
is VBZ VBZ
in IN IN
two CD CD
stages NNS NNS
. . .
<s>
Dresdner NNP NNP
is VBZ VBZ
offering VBG VBG
to TO TO
acquire VB VB
32.99 CD CD
% NN NN
of IN IN
BIP NNP NNP
's POS POS
capital NN NN
for IN IN
1,015 CD CD
francs NNS NNS
( ( (
$ $ $
156.82 CD CD
) ) )
a DT DT
share NN NN
. . .
<s>
The DT DT
terms NNS NNS
of IN IN
the DT DT
offer NN NN
put VBD VBD
a DT DT
value NN NN
of IN IN
528 CD CD
million CD CD
francs NNS NNS
( ( (
$ $ $
81.6 CD CD
million CD CD
) ) )
on IN IN
the DT DT
32.99 CD CD
% NN NN
shareholding NN NN
. . .
<s>
The DT DT
Societe NNP NNP
Generale NNP NNP
banking NN NN
group NN NN
controls VBZ VBZ
18.2 CD CD
% NN NN
of IN IN
the DT DT
shareholding NN NN
, , ,
while IN IN
Societe NNP NNP
Generale NNP NNP
de FW FW
Belgique NNP NNP
S.A. NNP NNP
owns VBZ VBZ
9.69 CD CD
% NN NN
and CC CC
Financiere NNP NNP
Tradition NN NNP
, , ,
a DT DT
holding VBG VBG
company NN NN
, , ,
owns VBZ VBZ
5.1 CD CD
% NN NN
. . .
<s>
Mexican JJ JJ
investor NN NN
Joel NNP NNP
Rocha NNP NNP
Garza NNP NNP
said VBD VBD
he PRP PRP
sold VBD VBD
a DT DT
block NN NN
of IN IN
600,000 CD CD
shares NNS NNS
of IN IN
Smith NNP NNP
Laboratories NNPS NNPS
Inc. NNP NNP
common JJ JJ
stock NN NN
to TO TO
companies NNS NNS
affiliated VBN VBN
with IN IN
him PRP PRP
. . .
<s>
In IN IN
a DT DT
filing NN NN
with IN IN
the DT DT
Securities NNPS NNPS
and CC CC
Exchange NNP NNP
Commission NNP NNP
, , ,
Mr. NNP NNP
Rocha NNP NNP
Garza NNP NNP
said VBD VBD
Biscayne NNP NNP
Syndicate NN NNP
Inc. NNP NNP
, , ,
Lahus NNP NNP
II NNP NNP
Inc. NNP NNP
, , ,
and CC CC
Lahus NNP NNP
III NNP NNP
Inc. NNP NNP
bought VBD VBD
the DT DT
600,000 CD CD
shares NNS NNS
on IN IN
Oct. NNP NNP
11 CD CD
for IN IN
$ $ $
1.4 CD CD
million CD CD
, , ,
or CC CC
$ $ $
2.375 CD CD
a DT DT
share NN NN
. . .
<s>
Mr. NNP NNP
Rocha NNP NNP
Garza NNP NNP
said VBD VBD
that IN IN
he PRP PRP
, , ,
Clarendon NNP NNP
Group NNP NNP
Ltd. NNP NNP
, , ,
Biscayne NNP NNP
, , ,
Lahus NNP NNP
II NNP NNP
, , ,
and CC CC
Lahus NNP NNP
III NNP NNP
are VBP VBP
all DT RB
affiliated JJ VBN
and CC CC
hold VB VBP
a DT DT
combined VBN VBN
stake NN NN
of IN IN
1,234,100 CD CD
shares NNS NNS
, , ,
or CC CC
9.33 CD CD
% NN NN
. . .
<s>
Mr. NNP NNP
Rocha NNP NNP
Garza NNP NNP
has VBZ VBZ
said VBN VBN
he PRP PRP
wants VBZ VBZ
to TO TO
purchase VB VB
more JJR JJR
shares NNS NNS
. . .
<s>
In IN IN
San NNP NNP
Diego NNP NNP
, , ,
Smith NNP NNP
Laboratories NNP NNPS
President NNP NNP
Timothy NNP NNP
Wollaeger NNP NNP
said VBD VBD
the DT DT
transfer NN NN
of IN IN
the DT DT
shares NNS NNS
is VBZ VBZ
n't RB RB
significant JJ JJ
. . .
<s>
Investcorp NNP NNP
, , ,
New NNP NNP
York NNP NNP
, , ,
said VBD VBD
it PRP PRP
and CC CC
the DT DT
management NN NN
of IN IN
Sports NNPS NNPS
& CC CC
Recreation NNP NNP
Inc. NNP NNP
bought VBD VBD
the DT DT
operator NN NN
of IN IN
the DT DT
10-store JJ JJ
Sports NNP NNPS
Unlimited NNP NNP
chain NN NN
for IN IN
some DT DT
$ $ $
40 CD CD
million CD CD
. . .
<s>
The DT DT
investment NN NN
bank NN NN
becomes VBZ VBZ
majority NN NN
shareholder NN NN
in IN IN
Sports NNP NNPS
& CC CC
Recreation NNP NNP
, , ,
a DT DT
10-year-old JJ JJ
sporting VBG NN
goods NNS NNS
retailer NN NN
, , ,
said VBD VBD
Oliver NNP NNP
E. NNP NNP
Richardson NNP NNP
, , ,
a DT DT
member NN NN
of IN IN
Investcorp NNP NNP
's POS POS
management NN NN
committee NN NN
and CC CC
a DT DT
director NN NN
of IN IN
the DT DT
chain NN NN
. . .
<s>
Sports NNS NNPS
Unlimited : NNP
, , ,
Tampa NNP NNP
, , ,
Fla. NNP NNP
, , ,
posted VBD VBD
revenue NN NN
of IN IN
$ $ $
59 CD CD
million CD CD
for IN IN
the DT DT
year NN NN
ended VBN VBD
July NNP NNP
31 CD CD
. . .
<s>
The DT DT
company NN NN
is VBZ VBZ
`` `` ``
very RB RB
profitable JJ JJ
'' '' ''
on IN IN
an DT DT
operating VBG VBG
basis NN NN
, , ,
Mr. NNP NNP
Richardson NNP NNP
said VBD VBD
, , ,
but CC CC
he PRP PRP
declined VBD VBD
to TO TO
specify VB VB
numbers NNS NNS
. . .
<s>
In IN IN
1982 CD CD
, , ,
Sports NNPS NNPS
& CC CC
Recreation NNP NNP
's POS POS
managers NNS NNS
and CC CC
certain JJ JJ
passive JJ JJ
investors NNS NNS
purchased VBD VBD
the DT DT
company NN NN
from IN IN
Brunswick NNP NNP
Corp. NNP NNP
of IN IN
Skokie NNP NNP
, , ,
Ill NNP NNP
. . .
<s>
In IN IN
the DT DT
latest JJS JJS
transaction NN NN
, , ,
management NN NN
bought VBD VBD
out RP RP
the DT DT
passive JJ JJ
investors NNS NNS
' POS POS
holding NN NN
, , ,
Mr. NNP NNP
Richardson NNP NNP
said VBD VBD
. . .
<s>
Hammond NNP NNP
Co. NNP NNP
, , ,
Newport NNP NNP
Beach NNP NNP
, , ,
Calif. NNP NNP
, , ,
said VBD VBD
Fidelity NNP NNP
National NNP NNP
Financial NNP NNP
Inc. NNP NNP
extended VBD VBD
its PRP$ PRP$
previous JJ JJ
agreement NN NN
, , ,
under IN IN
which WDT WDT
it PRP PRP
wo MD MD
n't RB RB
purchase VB VB
any DT DT
more JJR JJR
of IN IN
the DT DT
mortgage NN NN
banker NN NN
's POS POS
common JJ JJ
stock NN NN
, , ,
through IN IN
Oct. NNP NNP
31 CD CD
. . .
<s>
The DT DT
previous JJ JJ
agreement NN NN
expired VBD VBD
Thursday NNP NNP
. . .
<s>
Hammond NNP NNP
said VBD VBD
that IN IN
its PRP$ PRP$
discussions NNS NNS
with IN IN
Fidelity NNP NNP
, , ,
an DT DT
Irvine NNP NNP
, , ,
Calif. NNP NNP
, , ,
title-insurance JJ NN
underwriter NN NN
, , ,
are VBP VBP
continuing VBG VBG
, , ,
but CC CC
that IN IN
prospects NNS NNS
for IN IN
a DT DT
longer-term JJ JJ
standstill NN NN
agreement NN NN
are VBP VBP
uncertain JJ JJ
. . .
<s>
Fidelity NNP NNP
has VBZ VBZ
increased VBN VBN
its PRP$ PRP$
stake NN NN
in IN IN
Hammond NNP NNP
to TO TO
23.57 CD CD
% NN NN
in IN IN
recent JJ JJ
months NNS NNS
. . .
<s>
Statements NNS NNS
made VBN VBN
in IN IN
Securities NNPS NNPS
and CC CC
Exchange NNP NNP
Commission NNP NNP
filings NNS NNS
led VBD VBD
Hammond NNP NNP
to TO TO
request VB VB
a DT DT
standstill JJ JJ
agreement NN NN
. . .
<s>
Giant NNP NNP
Group NNP NNP
Ltd. NNP NNP
said VBD VBD
it PRP PRP
terminated VBD VBD
negotiations NNS NNS
for IN IN
the DT DT
purchase NN NN
of IN IN
Aspen NNP NNP
Airways NNPS NNPS
, , ,
a DT DT
Denver-based JJ JJ
regional JJ JJ
carrier NN NN
that WDT WDT
operates VBZ VBZ
the DT DT
United NNP NNP
Express NNP NNP
connector : NN
service NN NN
under IN IN
contract NN NN
to TO TO
UAL NNP NNP
Corp. NNP NNP
's POS POS
United NNP NNP
Airlines NNPS NNPS
. . .
<s>
Giant NNP NNP
, , ,
a DT DT
Beverly NNP NNP
Hills NNP NNPS
, , ,
Calif. NNP NNP
, , ,
collection NN NN
of IN IN
companies NNS NNS
that WDT WDT
is VBZ VBZ
controlled VBN VBN
by IN IN
Hollywood NNP NNP
producer NN NN
Burt NNP NNP
Sugarman NNP NNP
, , ,
did VBD VBD
n't RB RB
give VB VB
a DT DT
reason NN NN
for IN IN
halting VBG VBG
its PRP$ PRP$
plan NN NN
to TO TO
acquire VB VB
the DT DT
airline NN NN
, , ,
and CC CC
Aspen NNP NNP
officials NNS NNS
could MD MD
n't RB RB
be VB VB
reached VBN VBN
for IN IN
comment NN NN
. . .
<s>
Giant NN NNP
agreed VBD VBD
last JJ JJ
month NN NN
to TO TO
purchase VB VB
the DT DT
carrier NN NN
. . .
<s>
Giant NNP NNP
has VBZ VBZ
n't RB RB
ever RB RB
disclosed VBN VBN
the DT DT
proposed VBN VBN
price NN NN
, , ,
although IN IN
Avmark NNP NNP
Inc. NNP NNP
, , ,
an DT DT
Arlington NNP NNP
, , ,
Va.-based JJ JJ
aircraft NN NN
consulting NN VBG
concern NN NN
, , ,
has VBZ VBZ
valued VBN VBN
Aspen NNP NNP
's POS POS
fleet NN NN
at IN IN
about IN IN
$ $ $
46 CD CD
million CD CD
. . .
<s>
The DT DT
airline NN NN
would MD MD
have VB VB
become VBN VBN
the DT DT
latest JJS JJS
in IN IN
a DT DT
peculiar JJ JJ
blend VB NN
of IN IN
Giant JJ NNP
companies NNS NNS
, , ,
which WDT WDT
are VBP VBP
involved VBN VBN
in IN IN
making VBG VBG
cement NN NN
, , ,
recycling VBG VBG
newsprint NN NN
and CC CC
operating VBG VBG
fast-food NN NN
restaurants NNS NNS
. . .
<s>
The DT DT
state-controlled JJ JJ
insurer NN NN
Assurances NNP NNP
Generales NNP NNP
de IN FW
France NNP NNP
said VBD VBD
it PRP PRP
has VBZ VBZ
obtained VBN VBN
regulatory JJ JJ
approval NN NN
to TO TO
increase VB VB
its PRP$ PRP$
stake NN NN
in IN IN
the DT DT
financial JJ JJ
holding VBG VBG
company NN NN
Cie. NNP NNP
de IN FW
Navigation NNP NNP
Mixte NNP NNP
above IN IN
10 CD CD
% NN NN
from IN IN
the DT DT
current JJ JJ
level NN NN
of IN IN
about IN IN
8 CD CD
% NN NN
. . .
<s>
Friday NNP NNP
's POS POS
approval NN NN
was VBD VBD
needed VBN VBN
to TO TO
conform VB VB
with IN IN
Bourse FW NNP
rules NNS NNS
regarding VBG VBG
companies NNS NNS
with IN IN
bank NN NN
interests NNS NNS
and CC CC
follows VBZ VBZ
a DT DT
similar JJ JJ
approval NN NN
given VBN VBN
Wednesday NNP NNP
to TO TO
Cie NNP NNP
. . .
<s>
Financiere NNP NNP
de NNP IN
Paribas NNP NNP
. . .
<s>
Both DT DT
Paribas NNP NNP
and CC CC
AGF NNP NNP
have VBP VBP
been VBN VBN
increasing VBG VBG
their PRP$ PRP$
stakes NNS NNS
in IN IN
Navigation NNP NNP
Mixte NNP NNP
recently RB RB
for IN IN
what WP WP
they PRP PRP
have VBP VBP
termed VBN VBN
`` `` ``
investment NN NN
purposes NNS NNS
, , ,
'' '' ''
although IN IN
the DT DT
issue NN NN
has VBZ VBZ
been VBN VBN
surrounded VBN VBN
by IN IN
takeover NN NN
speculation NN NN
in IN IN
recent JJ JJ
weeks NNS NNS
. . .
<s>
AGF NNP NNP
did VBD VBD
n't RB RB
comment VB VB
officially RB RB
on IN IN
its PRP$ PRP$
reasons NNS NNS
for IN IN
seeking VBG VBG
the DT DT
approval NN NN
, , ,
but CC CC
people NNS NNS
close RB JJ
to TO TO
the DT DT
group NN NN
said VBD VBD
it PRP PRP
was VBD VBD
done VBN VBN
to TO TO
make VB VB
sure JJ JJ
the DT DT
group NN NN
would MD MD
have VB VB
the DT DT
flexibility NN NN
to TO TO
increase VB VB
its PRP$ PRP$
stake NN NN
in IN IN
the DT DT
future NN NN
, , ,
should MD MD
interesting JJ JJ
price NN NN
opportunities NNS NNS
arise VBP VB
. . .
<s>
An DT DT
AGF NNP NNP
official NN NN
did VBD VBD
specify VB VB
, , ,
however RB RB
, , ,
that IN IN
there EX EX
was VBD VBD
no DT DT
foundation NN NN
to TO TO
recent JJ JJ
rumors NNS NNS
the DT DT
group NN NN
might MD MD
be VB VB
acting VBG VBG
in IN IN
concert NN NN
with IN IN
Paribas NNP NNP
. . .
<s>
Lockheed NNP NNP
Aeronautical NNP NNP
Systems NNP NNPS
Co. NNP NNP
, , ,
a DT DT
unit NN NN
of IN IN
Lockheed NNP NNP
Corp. NNP NNP
, , ,
said VBD VBD
it PRP PRP
agreed VBD VBD
to TO TO
join VB VB
with IN IN
Aermacchi NNP NNP
S.p NNP NNP
. . .
<s>
A. NN NNP
of IN IN
Varese NNP NNP
, , ,
Italy NNP NNP
, , ,
to TO TO
propose VB VB
a DT DT
new JJ JJ
generation NN NN
of IN IN
jet NN NN
trainers NNS NNS
for IN IN
the DT DT
U.S. NNP NNP
Air NNP NNP
Force NNP NNP
. . .
<s>
The DT DT
Air NNP NNP
Force NNP NNP
is VBZ VBZ
looking VBG VBG
to TO TO
buy VB VB
540 CD CD
new JJ JJ
primary JJ JJ
jet NN NN
trainers NNS NNS
, , ,
with IN IN
a DT DT
total JJ JJ
value NN NN
of IN IN
$ $ $
1.5 CD CD
billion CD CD
to TO TO
$ $ $
2 CD CD
billion CD CD
, , ,
between IN IN
1994 CD CD
and CC CC
2004 CD CD
. . .
<s>
The DT DT
aircraft NN NN
would MD MD
replace VB VB
the DT DT
T-37 : NN
, , ,
made VBN VBN
by IN IN
the DT DT
Cessna NNP NNP
Aircraft NNP NNP
Co. NNP NNP
unit NN NN
of IN IN
General NNP NNP
Dynamics NNP NNPS
Corp. NNP NNP
, , ,
which WDT WDT
the DT DT
Air NNP NNP
Force NNP NNP
uses VBZ VBZ
to TO TO
train VB VB
jet NN NN
pilots NNS NNS
. . .
<s>
Lockheed NNP NNP
said VBD VBD
the DT DT
U.S. NNP NNP
Navy NNP NNP
may MD MD
also RB RB
buy VB VB
an DT DT
additional JJ JJ
340 CD CD
trainer NN NN
aircraft NN NN
to TO TO
replace VB VB
its PRP$ PRP$
T34C NNP CD
trainers NNS NNS
made VBN VBN
by IN IN
the DT DT
Beech NNP NNP
Aircraft NNP NNP
Corp. NNP NNP
unit NN NN
of IN IN
Raytheon NNP NNP
Corp NNP NNP
. . .
<s>
Under IN IN
the DT DT
agreement NN NN
with IN IN
Lockheed NNP NNP
, , ,
Aermacchi NNP NNP
will MD MD
license VB VB
Lockheed NNP NNP
to TO TO
build VB VB
the DT DT
Aermacchi NNP NNP
MB-339 NNP NNP
jet NN NN
tandem-trainer NN NN
and CC CC
will MD MD
supply VB VB
certain JJ JJ
structures NNS NNS
. . .
<s>
Lockheed NNP NNP
will MD MD
build VB VB
additional JJ JJ
structures NNS NNS
and CC CC
perform VB VB
final JJ JJ
assembly NN NN
of IN IN
the DT DT
tandem-seat NN JJ
trainer NN NN
at IN IN
its PRP$ PRP$
Marietta NNP NNP
, , ,
Ga. NNP NNP
, , ,
plant NN NN
should MD MD
the DT DT
Air NNP NNP
Force NNP NNP
order NN VB
the DT DT
craft NN NN
. . .
<s>
A DT DT
Lockheed NNP NNP
spokesman NN NN
in IN IN
Burbank NNP NNP
, , ,
Calif. NNP NNP
, , ,
said VBD VBD
he PRP PRP
was VBD VBD
n't RB RB
aware JJ JJ
of IN IN
which WDT WDT
other JJ JJ
companies NNS NNS
would MD MD
be VB VB
competing VBG VBG
for IN IN
the DT DT
Air NNP NNP
Force NNP NNP
contract NN NN
. . .
<s>
Striking VBG JJ
auto NN NN
workers NNS NNS
ended VBD VBD
their PRP$ PRP$
19-day JJ JJ
occupation NN NN
of IN IN
a DT DT
metal NN NN
shop NN NN
at IN IN
a DT DT
Peugeot NNP NNP
S.A. NNP NNP
factory NN NN
in IN IN
eastern JJ JJ
France NNP NNP
Friday NNP NNP
as IN IN
pay NN NN
talks NNS NNS
got VBD VBD
under IN IN
way NN NN
in IN IN
the DT DT
capital NN NN
. . .
<s>
But CC CC
the DT DT
Peugeot NNP NNP
breakthrough NN NN
came VBD VBD
as IN IN
a DT DT
nationwide JJ JJ
dispute NN NN
by IN IN
Finance NNP NNP
Ministry NNP NNP
employees NNS NNS
disrupted VBN VBD
border NN NN
checkpoints NNS NNS
and CC CC
threatened VBD VBD
the DT DT
government NN NN
's POS POS
ability NN NN
to TO TO
pay VB VB
its PRP$ PRP$
bills NNS NNS
. . .
<s>
The DT DT
Peugeot NNP NNP
metalworkers NNS NNS
began VBD VBD
filing VBG VBG
out IN IN
of IN IN
the DT DT
shop NN NN
, , ,
which WDT WDT
makes VBZ VBZ
auto NN NN
parts NNS NNS
, , ,
at IN IN
the DT DT
plant NN NN
in IN IN
Mulhouse NNP NNP
after IN IN
voting VBG VBG
589 CD CD
to TO TO
193 CD CD
to TO TO
abandon VB VB
the DT DT
occupation NN NN
. . .
<s>
Their PRP$ PRP$
withdrawal NN NN
was VBD VBD
based VBN VBN
on IN IN
promises NNS NNS
by IN IN
Peugeot NNP NNP
to TO TO
open VB VB
negotiations NNS NNS
in IN IN
Paris NNP NNP
at IN IN
the DT DT
same JJ JJ
time NN NN
the DT DT
last JJ JJ
man NN NN
left VBD VBD
the DT DT
premises NNS NNS
. . .
<s>
The DT DT
strike NN NN
by IN IN
customs NNS NNS
officers NNS NNS
, , ,
tax NN NN
collectors NNS NNS
, , ,
treasury NN NN
workers NNS NNS
and CC CC
other JJ JJ
civil JJ JJ
servants NNS NNS
attached VBN VBN
to TO TO
the DT DT
Ministry NNP NNP
of IN IN
Finance NNP NNP
may MD MD
pose VB VB
a DT DT
more RBR RBR
serious JJ JJ
challenge NN NN
to TO TO
the DT DT
government NN NN
and CC CC
the DT DT
average JJ JJ
Frenchman : NNP
. . .
<s>
Ministry NNP NNP
employees NNS NNS
complain VBP VBP
that IN IN
they PRP PRP
are VBP VBP
poorly RB RB
paid VBN VBN
because IN IN
of IN IN
a DT DT
complex JJ JJ
job-rating NN JJ
system NN NN
they PRP PRP
say VBP VBP
fails VBZ VBZ
to TO TO
take VB VB
into IN IN
account NN NN
their PRP$ PRP$
education NN NN
and CC CC
level NN NN
of IN IN
technical JJ JJ
expertise NN NN
. . .
<s>
The DT DT
market NN NN
for IN IN
$ $ $
200 CD CD
billion CD CD
of IN IN
high-risk JJ JJ
junk NN NN
bonds NNS NNS
, , ,
battered VBN VBN
by IN IN
a DT DT
succession NN NN
of IN IN
defaults NNS NNS
and CC CC
huge JJ JJ
price NN NN
declines NNS NNS
this DT DT
year NN NN
, , ,
practically RB RB
vanished VBN VBD
Friday NNP NNP
. . .
<s>
Trading NN NN
ground NN VBD
to TO TO
a DT DT
halt NN NN
as IN IN
investors NNS NNS
rushed VBD VBD
to TO TO
sell VB VB
bonds NNS NNS
, , ,
only RB RB
to TO TO
find VB VB
themselves PRP PRP
deserted VBN VBN
by IN IN
potential JJ JJ
buyers NNS NNS
. . .
<s>
Stunned VBN VBN
, , ,
they PRP PRP
watched VBD VBD
brokerage NN NN
houses NNS NNS
mark VBP VB
down RP IN
price NN NN
quotations NNS NNS
on IN IN
their PRP$ PRP$
junk NN NN
holdings NNS NNS
while IN IN
being VBG VBG
able JJ JJ
to TO TO
execute VB VB
very RB RB
few JJ JJ
actual JJ JJ
trades NNS NNS
. . .
<s>
`` `` ``
The DT DT
junk NN NN
bond NN NN
market NN NN
is VBZ VBZ
in IN IN
a DT DT
state NN NN
of IN IN
gridlock NN NN
now RB RB
-- : :
there EX EX
are VBP VBP
no DT DT
bids NNS NNS
, , ,
only RB RB
offers VBZ NNS
, , ,
'' '' ''
says VBZ VBZ
independent JJ JJ
investor NN NN
Martin NNP NNP
D. NNP NNP
Sass NNP NNP
, , ,
who WP WP
manages VBZ VBZ
nearly RB RB
$ $ $
4 CD CD
billion CD CD
and CC CC
who WP WP
recently RB RB
decided VBD VBD
to TO TO
buy VB VB
distressed JJ JJ
securities NNS NNS
for IN IN
a DT DT
new JJ JJ
fund NN NN
. . .
<s>
This DT DT
calamity NN NN
is VBZ VBZ
`` `` ``
far RB RB
from IN IN
over RB IN
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
Junk NN NN
's POS POS
collapse NN NN
helped VBD VBD
stoke : VB
the DT DT
panicky JJ JJ
selling NN NN
of IN IN
stocks NNS NNS
that WDT WDT
produced VBD VBD
the DT DT
deepest JJS JJS
one-day JJ JJ
dive NN NN
in IN IN
the DT DT
Dow NNP NNP
Jones NNP NNP
Industrial NNP NNP
Average NNP NNP
since IN IN
the DT DT
Oct. NNP NNP
19 CD CD
, , ,
1987 CD CD
, , ,
crash NN NN
. . .
<s>
Simultaneously RB RB
, , ,
it PRP PRP
also RB RB
helped VBD VBD
trigger NN VB
this DT DT
year NN NN
's POS POS
biggest JJS JJS
rally NN NN
in IN IN
the DT DT
U.S. NNP NNP
government NN NN
bond NN NN
market NN NN
as IN IN
investors NNS NNS
rushed VBD VBD
to TO TO
move VB VB
capital NN NN
into IN IN
the DT DT
highest-quality JJ NN
securities NNS NNS
they PRP PRP
could MD MD
find VB VB
. . .
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But CC CC
`` `` ``
an DT DT
eerie JJ JJ
silence NN NN
pervaded : VBD
'' '' ''
the DT DT
junk NN NN
market NN NN
Friday NNP NNP
as IN IN
prices NNS NNS
tumbled VBD VBD
on IN IN
hundreds NNS NNS
of IN IN
high-yield JJ JJ
bonds NNS NNS
despite IN IN
`` `` ``
no DT DT
active JJ JJ
trading NN NN
, , ,
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says VBZ VBZ
John NNP NNP
Lonski NNP NNP
, , ,
an DT DT
economist NN NN
at IN IN
Moody NNP NNP
's POS POS
Investors NNPS NNPS
Service NNP NNP
Inc NNP NNP
. . .
<s>
For IN IN
example NN NN
, , ,
the DT DT
price NN NN
of IN IN
Southland NNP NNP
Corp. NNP NNP
's POS POS
$ $ $
500 CD CD
million CD CD
of IN IN
16 CD CD
3\/4 CD CD
% NN NN
bonds NNS NNS
due JJ JJ
2002 CD CD
-- : :
sold VBD VBD
less JJR JJR
than IN IN
two CD CD
years NNS NNS
ago RB IN
by IN IN
Goldman NNP NNP
, , ,
Sachs NNP NNP
& CC CC
Co. NNP NNP
-- : :
plummeted VBD VBD
25 CD CD
% NN NN
to TO TO
just RB RB
30 CD CD
cents NNS NNS
on IN IN
the DT DT
dollar NN NN
. . .
<s>
But CC CC
not RB RB
even RB RB
Goldman NNP NNP
would MD MD
make VB VB
a DT DT
market NN NN
in IN IN
the DT DT
securities NNS NNS
of IN IN
Southland NNP NNP
, , ,
the DT DT
owner NN NN
of IN IN
the DT DT
nationwide JJ JJ
chain NN NN
of IN IN
7-11 CD CD
convenience NN NN
stores NNS NNS
that WDT WDT
is VBZ VBZ
strapped VBN VBN
for IN IN
cash NN NN
. . .
<s>
Goldman NNP NNP
officials NNS NNS
declined VBD VBD
to TO TO
comment VB VB
. . .
<s>
Junk NN NN
bonds NNS NNS
, , ,
which WDT WDT
mushroomed VBD VBD
from IN IN
less JJR RBR
than IN IN
$ $ $
2 CD CD
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at IN IN
the DT DT
start NN NN
of IN IN
this DT DT
decade NN NN
, , ,
have VBP VBP
been VBN VBN
declining VBG VBG
for IN IN
months NNS NNS
as IN IN
issuer NN NN
after IN IN
issuer NN NN
sank VBD VBD
beneath IN IN
the DT DT
weight NN NN
of IN IN
hefty JJ JJ
interest NN NN
payments NNS NNS
. . .
<s>
The DT DT
shaky JJ JJ
market NN NN
received VBD VBD
its PRP$ PRP$
biggest JJS JJS
jolt NN NN
last JJ JJ
month NN NN
from IN IN
Campeau NNP NNP
Corp. NNP NNP
, , ,
which WDT WDT
created VBD VBD
its PRP$ PRP$
U.S. NNP NNP
retailing NN NN
empire NN NN
with IN IN
junk NN NN
financing NN NN
. . .
<s>
Campeau NNP NNP
developed VBD VBD
a DT DT
cash NN NN
squeeze NN NN
that WDT WDT
caused VBD VBD
it PRP PRP
to TO TO
be VB VB
tardy JJ JJ
on IN IN
some DT DT
interest NN NN
payments NNS NNS
and CC CC
to TO TO
put VB VB
its PRP$ PRP$
prestigious JJ JJ
Bloomingdales : NNP
department-store NN JJ
chain NN NN
up RP IN
for IN IN
sale NN NN
. . .
<s>
Now RB RB
, , ,
dozens NNS NNS
of IN IN
corporations NNS NNS
, , ,
including VBG VBG
Ethan NNP NNP
Allen NNP NNP
, , ,
TW NNP NNP
Services NNPS NNPS
and CC CC
York NNP NNP
International NNP NNP
, , ,
that WDT WDT
are VBP VBP
counting VBG VBG
on IN IN
at IN IN
least JJS JJS
$ $ $
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of IN IN
scheduled VBN VBN
new JJ JJ
junk NN NN
financings NNS NNS
to TO TO
keep VB VB
their PRP$ PRP$
highly RB RB
leveraged JJ JJ
takeovers NNS NNS
and CC CC
buy-outs NNS NNS
afloat RB RB
, , ,
may MD MD
never RB RB
get VB VB
the DT DT
money NN NN
. . .
<s>
`` `` ``
The DT DT
music NN NN
has VBZ VBZ
stopped VBN VBN
playing VBG VBG
, , ,
'' '' ''
says VBZ VBZ
Michael NNP NNP
Harkins NNP NNP
, , ,
a DT DT
principal NN NN
in IN IN
the DT DT
investment NN NN
firm NN NN
of IN IN
Levy NNP NNP
Harkins NNP NNP
. . .
<s>
`` `` ``
You PRP PRP
've VBP VBP
either CC RB
got VBD VBN
a DT DT
chair NN NN
or CC CC
you PRP PRP
do VBP VBP
n't RB RB
. . .
<s>
'' '' ''
In IN IN
Friday NNP NNP
's POS POS
aftermath NN NN
, , ,
says VBZ VBZ
R. NNP NNP
Douglas NNP NNP
Carleton NNP NNP
, , ,
a DT DT
director NN NN
of IN IN
high-yield JJ JJ
finance NN NN
at IN IN
First NNP NNP
Boston NNP NNP
Corp. NNP NNP
, , ,
`` `` ``
much JJ RB
of IN IN
the DT DT
$ $ $
7 CD CD
billion CD CD
forward JJ JJ
calendar NN NN
could MD MD
be VB VB
deferred VBN VBN
, , ,
depending VBG VBG
on IN IN
the DT DT
hysteria NN NN
. . .
<s>
'' '' ''
In IN IN
August NNP NNP
, , ,
First NNP NNP
Boston NNP NNP
withdrew VBD VBD
a DT DT
$ $ $
475 CD CD
million CD CD
junk NN NN
offering NN VBG
of IN IN
Ohio NNP NNP
Mattress NNP NNP
bonds NNS NNS
because IN IN
potential JJ JJ
buyers NNS NNS
were VBD VBD
`` `` ``
very RB RB
skittish JJ JJ
. . .
<s>
'' '' ''
The DT DT
outlook NN NN
`` `` ``
looks VBZ VBZ
shaky JJ JJ
because IN IN
we PRP PRP
're VBP VBP
still RB RB
waiting VBG VBG
'' '' ''
for IN IN
mutual JJ JJ
funds NNS NNS
, , ,
in IN IN
particular JJ JJ
, , ,
to TO TO
dump VB VB
some DT DT
of IN IN
their PRP$ PRP$
junk NN NN
bond NN NN
holdings NNS NNS
to TO TO
pay VB VB
off RP RP
redemptions NNS NNS
by IN IN
individual JJ JJ
investors NNS NNS
, , ,
says VBZ VBZ
King NNP NNP
Penniman NNP NNP
, , ,
senior JJ JJ
vice NN NN
president NN NN
at IN IN
McCarthy NNP NNP
, , ,
Crisanti NNP NNP
& CC CC
Maffei NNP NNP
, , ,
an DT DT
investment NN NN
arm NN NN
of IN IN
Xerox NNP NNP
Financial NNP NNP
Services NNPS NNPS
. . .
<s>
Indeed RB RB
, , ,
a DT DT
Moody NNP NNP
's POS POS
index NN NN
that WDT WDT
tracks VBZ VBZ
the DT DT
net JJ JJ
asset NN NN
values NNS NNS
of IN IN
24 CD CD
high-yield JJ JJ
mutual JJ JJ
funds NNS NNS
declined VBD VBD
for IN IN
the DT DT
17th JJ JJ
consecutive JJ JJ
day NN NN
Friday NNP NNP
. . .
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In IN IN
a DT DT
stark JJ JJ
contrast NN NN
, , ,
the DT DT
benchmark NN JJ
30-year JJ JJ
Treasury NNP NNP
bond NN NN
climbed VBD VBD
more JJR JJR
than IN IN
2 CD CD
1\/2 CD CD
points NNS NNS
, , ,
or CC CC
about RB IN
$ $ $
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for IN IN
each DT DT
$ $ $
1,000 CD CD
face NN NN
amount NN NN
, , ,
to TO TO
103 CD CD
12\/32 CD CD
, , ,
its PRP$ PRP$
biggest JJS JJS
gain NN NN
of IN IN
the DT DT
year NN NN
. . .
<s>
The DT DT
bond NN NN
's POS POS
yield NN NN
dropped VBD VBD
to TO TO
7.82 CD CD
% NN NN
, , ,
the DT DT
lowest JJS JJS
since IN IN
March NNP NNP
31 CD CD
, , ,
1987 CD CD
, , ,
according VBG VBG
to TO TO
Technical NNP NNP
Data NNP NNP
Global NNP NNP
Markets NNP NNPS
Group NNP NNP
. . .
<s>
The DT DT
yield NN NN
on IN IN
three-month JJ JJ
Treasury NNP NNP
bills NNS NNS
, , ,
considered VBN VBD
the DT DT
safest JJS JJS
of IN IN
all DT DT
investments NNS NNS
, , ,
plummeted VBD VBD
about IN IN
0.7 CD CD
percentage NN NN
point NN NN
to TO TO
7.16 CD CD
% NN NN
, , ,
the DT DT
largest JJS JJS
one-day JJ JJ
decline NN NN
since IN IN
1982 CD CD
. . .
<s>
The DT DT
main JJ JJ
catalyst NN NN
for IN IN
government NN NN
bond NN NN
market NN NN
rally NN NN
was VBD VBD
the DT DT
190.58-point JJ JJ
drop NN NN
in IN IN
the DT DT
Dow NNP NNP
Jones NNP NNP
Industrial NNP NNP
Average NNP NNP
. . .
<s>
`` `` ``
When WRB WRB
you PRP PRP
get VBP VBP
panic VB NN
in IN IN
one CD CD
market NN NN
, , ,
you PRP PRP
get VBP VBP
flight NN NN
to TO TO
quality NN NN
in IN IN
the DT DT
other JJ JJ
, , ,
'' '' ''
said VBD VBD
Maria NNP NNP
Ramirez NNP NNP
, , ,
money NN NN
market NN NN
economist NN NN
at IN IN
Drexel NNP NNP
Burnham NNP NNP
Lambert NNP NNP
Inc NNP NNP
. . .
<s>
Nevertheless RB RB
, , ,
the DT DT
problems NNS NNS
of IN IN
the DT DT
junk NN NN
market NN NN
could MD MD
prompt VB VB
the DT DT
Federal NNP NNP
Reserve NNP NNP
to TO TO
ease VB VB
credit NN NN
in IN IN
the DT DT
months NNS NNS
ahead RB RB
. . .
<s>
`` `` ``
This DT DT
marks VBZ VBZ
a DT DT
significant JJ JJ
shift NN NN
in IN IN
the DT DT
interest NN NN
rate NN NN
outlook NN NN
, , ,
'' '' ''
says VBZ VBZ
William NNP NNP
Sullivan NNP NNP
, , ,
director NN NN
of IN IN
money NN NN
market NN NN
research NN NN
at IN IN
Dean NNP NNP
Witter NNP NNP
Reynolds NNP NNP
Inc. NNP NNP
, , ,
New NNP NNP
York NNP NNP
. . .
<s>
Any DT DT
sustained VBN VBN
credit-easing NN NN
could MD MD
be VB VB
a DT DT
lift NN NN
for IN IN
junk NN NN
bonds NNS NNS
as RB RB
well RB RB
as IN IN
other JJ JJ
securities NNS NNS
. . .
<s>
Robert NNP NNP
Dow NNP NNP
, , ,
a DT DT
partner NN NN
and CC CC
portfolio NN NN
manager NN NN
at IN IN
Lord NNP NNP
, , ,
Abbett NNP NNP
& CC CC
Co. NNP NNP
, , ,
which WDT WDT
manages VBZ VBZ
$ $ $
4 CD CD
billion CD CD
of IN IN
high-yield JJ JJ
bonds NNS NNS
, , ,
says VBZ VBZ
he PRP PRP
does VBZ VBZ
n't RB RB
`` `` ``
think VB VB
there EX EX
is VBZ VBZ
any DT DT
fundamental JJ JJ
economic JJ JJ
rationale NN NN
( ( (
for IN IN
the DT DT
junk NN NN
bond NN NN
rout NN NN
) ) )
. . .
<s>
It PRP PRP
was VBD VBD
herd NN NN
instinct NN NN
. . .
<s>
'' '' ''
He PRP PRP
adds VBZ VBZ
: : :
`` `` ``
The DT DT
junk NN NN
market NN NN
has VBZ VBZ
witnessed VBN VBN
some DT DT
trouble NN NN
and CC CC
now RB RB
some DT DT
people NNS NNS
think VBP VBP
that IN IN
if IN IN
the DT DT
equity NN NN
market NN NN
gets VBZ VBZ
creamed VBN VBN
that DT DT
means VBZ VBZ
the DT DT
economy NN NN
will MD MD
be VB VB
terrible JJ JJ
and CC CC
that DT DT
's VBZ VBZ
bad JJ JJ
for IN IN
junk NN NN
. . .
<s>
I PRP PRP
do VBP VBP
n't RB RB
believe VB VB
that DT DT
's VBZ VBZ
the DT DT
case NN NN
, , ,
but CC CC
I PRP PRP
believe VBP VBP
that IN IN
people NNS NNS
are VBP VBP
running VBG RB
scared VBN VBN
. . .
<s>
There EX EX
is VBZ VBZ
a DT DT
flight NN NN
to TO TO
quality NN NN
, , ,
and CC CC
the DT DT
quality NN NN
is VBZ VBZ
not RB RB
in IN IN
equities NNS NNS
and CC CC
not RB RB
in IN IN
junk NN NN
-- : :
it PRP PRP
's VBZ VBZ
in IN IN
Treasurys NNPS NNS
. . .
<s>
'' '' ''
Even RB RB
as IN IN
trading NN NN
in IN IN
high-yield JJ JJ
issues NNS NNS
dried VBD VBN
up RP RP
over IN IN
the DT DT
past JJ JJ
month NN NN
, , ,
corporations NNS NNS
sold VBD VBD
more JJR JJR
than IN IN
$ $ $
2 CD CD
billion CD CD
of IN IN
new JJ JJ
junk NN NN
bonds NNS NNS
. . .
<s>
For IN IN
example NN NN
, , ,
a DT DT
recent JJ JJ
$ $ $
375 CD CD
million CD CD
offering NN NN
of IN IN
Petrolane NNP NNP
Gas NNP NNP
Services NNPS NNPS
L.P. NNP NNP
bonds NNS NNS
sold VBN VBN
by IN IN
First NNP NNP
Boston NNP NNP
was VBD VBD
three CD CD
times NNS NNS
oversubscribed JJ VBN
. . .
<s>
A DT DT
$ $ $
550 CD CD
million CD CD
offering NN NN
of IN IN
Turner NNP NNP
Broadcasting NNP NNP
System NNP NNP
Inc NNP NNP
. . .
<s>
high-yield JJ JJ
securities NNS NNS
sold VBN VBD
last JJ JJ
week NN NN
by IN IN
Drexel NNP NNP
was VBD VBD
increased VBN VBN
$ $ $
50 CD CD
million CD CD
because IN IN
of IN IN
strong JJ JJ
demand NN NN
. . .
<s>
First NNP NNP
Boston NNP NNP
estimates VBZ VBZ
that IN IN
in IN IN
November NNP NNP
and CC CC
December NNP NNP
alone RB RB
, , ,
junk NN NN
bond NN NN
investors NNS NNS
will MD MD
receive VB VB
$ $ $
4.8 CD CD
billion CD CD
of IN IN
coupon NN NN
interest NN NN
payments NNS NNS
. . .
<s>
`` `` ``
That DT DT
's VBZ VBZ
a DT DT
clear JJ JJ
indication NN NN
that IN IN
there EX EX
is VBZ VBZ
and CC CC
will MD MD
be VB VB
an DT DT
undercurrent NN NN
of IN IN
basic JJ JJ
business NN NN
going VBG VBG
on IN IN
, , ,
'' '' ''
says VBZ VBZ
Mr. NNP NNP
Carleton NNP NNP
of IN IN
First NNP NNP
Boston NNP NNP
. . .
<s>
`` `` ``
I PRP PRP
do VBP VBP
n't RB RB
know VB VB
how WRB WRB
people NNS NNS
can MD MD
say VB VB
the DT DT
junk NN NN
bond NN NN
market NN NN
disappeared VBD VBD
when WRB WRB
there EX EX
were VBD VBD
$ $ $
1.5 CD CD
billion CD CD
of IN IN
orders NNS NNS
for IN IN
$ $ $
550 CD CD
million CD CD
of IN IN
junk NN NN
bonds NNS NNS
sold VBN VBD
last JJ JJ
week NN NN
by IN IN
Turner NNP NNP
, , ,
'' '' ''
says VBZ VBZ
Raymond NNP NNP
Minella NNP NNP
, , ,
co-head NN NN
of IN IN
merchant NN NN
banking NN NN
at IN IN
Merrill NNP NNP
Lynch NNP NNP
& CC CC
Co NNP NNP
. . .
<s>
`` `` ``
When WRB WRB
the DT DT
rally NN NN
comes VBZ VBZ
, , ,
insurance NN NN
companies NNS NNS
will MD MD
be VB VB
leading VBG VBG
it PRP PRP
because IN IN
they PRP PRP
have VBP VBP
billions NNS NNS
to TO TO
invest VB VB
and CC CC
invest VB VB
they PRP PRP
will MD MD
. . .
<s>
There EX EX
is VBZ VBZ
plenty NN NN
of IN IN
money NN NN
available JJ JJ
from IN IN
people NNS NNS
who WP WP
want VBP VBP
to TO TO
buy VB VB
well-structured JJ JJ
deals NNS NNS
; : :
it PRP PRP
's VBZ VBZ
the DT DT
stuff NN NN
that WDT WDT
's VBZ VBZ
financed VBN VBN
on IN IN
a DT DT
shoestring NN NN
that IN IN
people NNS NNS
are VBP VBP
wary JJ JJ
of IN IN
. . .
<s>
'' '' ''
But CC CC
such JJ JJ
highly RB RB
leveraged JJ JJ
transactions NNS NNS
seemed VBD VBD
to TO TO
have VB VB
multiplied VBN VBN
this DT DT
year NN NN
, , ,
casting VBG VBG
a DT DT
pall NN NN
over IN IN
much JJ RB
of IN IN
the DT DT
junk NN NN
market NN NN
. . .
<s>
Michael NNP NNP
McNamara NNP NNP
, , ,
director NN NN
of IN IN
fixed-income JJ NN
research NN NN
at IN IN
Kemper NNP NNP
Financial NNP NNP
Services NNPS NNPS
, , ,
says VBZ VBZ
the DT DT
quality NN NN
of IN IN
junk NN NN
issues NNS NNS
has VBZ VBZ
been VBN VBN
getting VBG VBG
poorer JJR JJR
, , ,
contributing VBG VBG
to TO TO
the DT DT
slide NN NN
in IN IN
prices NNS NNS
. . .
<s>
`` `` ``
Last JJ JJ
year NN NN
we PRP PRP
probably RB RB
bought VBD VBD
one CD CD
out IN IN
of IN IN
every DT DT
three CD CD
new JJ JJ
deals NNS NNS
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
. . .
<s>
`` `` ``
This DT DT
year NN NN
, , ,
at IN IN
best JJS RB
, , ,
it PRP PRP
's VBZ VBZ
in IN IN
one CD CD
in IN IN
every DT DT
five CD CD
or CC CC
six CD CD
. . .
<s>
And CC CC
our PRP$ PRP$
credit NN NN
standards NNS NNS
have VBP VBP
n't RB RB
changed VBN VBN
one CD CD
iota NN NN
. . .
<s>
'' '' ''
However RB RB
, , ,
Mr. NNP NNP
McNamara NNP NNP
said VBD VBD
the DT DT
slide NN NN
in IN IN
junk NN NN
is VBZ VBZ
creating VBG VBG
`` `` ``
one CD CD
hell NN NN
of IN IN
a DT DT
buying NN VBG
opportunity NN NN
'' '' ''
for IN IN
selective JJ JJ
buyers NNS NNS
. . .
<s>
For IN IN
the DT DT
moment NN NN
, , ,
investors NNS NNS
seem VBP VBP
more JJR RBR
preoccupied VBN VBN
with IN IN
the DT DT
`` `` ``
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'' '' ''
junk NN NN
than IN IN
the DT DT
`` `` ``
good JJ JJ
'' '' ''
junk NN NN
. . .
<s>
`` `` ``
The DT DT
market NN NN
has VBZ VBZ
been VBN VBN
weak JJ JJ
since IN IN
'' '' ''
the DT DT
announcement NN NN
of IN IN
the DT DT
Campeau NNP NNP
cash NN NN
squeeze NN NN
and CC CC
the DT DT
company NN NN
's POS POS
subsequent JJ JJ
bailout NN NN
by IN IN
Olympia NNP NNP
& CC CC
York NNP NNP
, , ,
says VBZ VBZ
Mr. NNP NNP
Minella NNP NNP
of IN IN
Merrill NNP NNP
Lynch NNP NNP
. . .
<s>
`` `` ``
That DT DT
really RB RB
affected VBD VBD
the DT DT
market NN NN
in IN IN
that IN IN
people NNS NNS
started VBD VBD
to TO TO
ask VB VB
` `` ``
What WP WP
else RB RB
is VBZ VBZ
in IN IN
trouble NN NN
? . .
<s>
' '' ''
'' '' ''
Well NNP RB
before IN IN
Campeau NNP NNP
, , ,
though RB RB
, , ,
there EX EX
were VBD VBD
signs NNS NNS
that IN IN
the DT DT
junk NN NN
market NN NN
was VBD VBD
stumbling VBG VBG
through IN IN
one CD CD
of IN IN
its PRP$ PRP$
worst JJS JJS
years NNS NNS
ever RB RB
. . .
<s>
Despite IN IN
the DT DT
relatively RB RB
strong JJ JJ
economy NN NN
, , ,
junk NN NN
bond NN NN
prices NNS NNS
did VBD VBD
nothing NN NN
except IN IN
go VB VB
down RP IN
, , ,
hammered VBN VBN
by IN IN
a DT DT
seemingly RB RB
endless JJ JJ
trail NN NN
of IN IN
bad JJ JJ
news NN NN
: : :
-- : :
In IN IN
June NNP NNP
, , ,
two CD CD
months NNS NNS
before IN IN
it PRP PRP
would MD MD
default VB VB
on IN IN
interest NN NN
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covering VBG VBG
some DT DT
of IN IN
its PRP$ PRP$
$ $ $
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billion CD CD
of IN IN
speculative JJ JJ
debt NN NN
securities NNS NNS
, , ,
New NNP NNP
York-based JJ JJ
Integrated NNP NNP
Resources NNPS NNPS
Inc. NNP NNP
said VBD VBD
it PRP PRP
ran VBD VBD
out IN RP
of IN IN
borrowed VBN VBN
money NN NN
. . .
<s>
-- : :
In IN IN
July NNP NNP
, , ,
Southmark NNP NNP
Corp. NNP NNP
, , ,
the DT DT
Dallas-based JJ JJ
real JJ JJ
estate NN NN
and CC CC
financial JJ JJ
services NNS NNS
company NN NN
with IN IN
about IN IN
$ $ $
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billion CD CD
of IN IN
junk NN NN
bonds NNS NNS
, , ,
voluntarily RB RB
filed VBD VBN
for IN IN
protection NN NN
under IN IN
U.S. NNP NNP
bankruptcy NN NN
law NN NN
. . .
<s>
-- : :
By IN IN
the DT DT
end NN NN
of IN IN
July NNP NNP
, , ,
the DT DT
difference NN NN
in IN IN
yield NN NN
between IN IN
an DT DT
index NN NN
of IN IN
junk NN NN
bonds NNS NNS
and CC CC
seven-year JJ JJ
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notes NNS NNS
widened VBD VBD
to TO TO
more JJR RBR
than IN IN
5.5 CD CD
percentage NN NN
points NNS NNS
. . .
<s>
-- : :
In IN IN
August NNP NNP
, , ,
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International NNP NNP
Inc. NNP NNP
, , ,
which WDT WDT
sold VBD VBD
more JJR JJR
than IN IN
$ $ $
500 CD CD
million CD CD
of IN IN
junk NN NN
bonds NNS NNS
, , ,
suspended VBN VBN
interest NN NN
payments NNS NNS
. . .
<s>
-- : :
In IN IN
September NNP NNP
, , ,
just RB RB
as IN IN
the DT DT
cash NN NN
squeeze NN NN
hit VBD VBD
Campeau NNP NNP
, , ,
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Financial NNP NNP
Corp. NNP NNP
defaulted VBD VBD
on IN IN
$ $ $
145 CD CD
million CD CD
of IN IN
notes NNS NNS
and CC CC
appeared VBD VBD
unlikely JJ JJ
to TO TO
pay VB VB
interest NN NN
on IN IN
a DT DT
total NN NN
of IN IN
$ $ $
1.2 CD CD
billion CD CD
of IN IN
debt NN NN
securities NNS NNS
. . .
<s>
Meantime RB RB
, , ,
regulators NNS NNS
are VBP VBP
becoming VBG VBG
increasingly RB RB
worried VBN VBN
as IN IN
the DT DT
rush NN NN
to TO TO
leverage NN VB
shows NNS VBZ
no DT DT
signs NNS NNS
of IN IN
abating VBG VBG
. . .
<s>
Moody NNP NNP
's POS POS
says VBZ VBZ
the DT DT
frequency NN NN
of IN IN
corporate JJ JJ
credit NN NN
downgrades NNS NNS
is VBZ VBZ
the DT DT
highest JJS JJS
this DT DT
year NN NN
since IN IN
1982 CD CD
. . .
<s>
In IN IN
addition NN NN
, , ,
there EX EX
are VBP VBP
six CD CD
times NNS NNS
as IN IN
many JJ JJ
troubled VBD VBN
banks NNS NNS
as IN IN
there EX EX
were VBD VBD
in IN IN
the DT DT
recession NN NN
of IN IN
1981 CD CD
, , ,
according VBG VBG
to TO TO
the DT DT
Federal NNP NNP
Deposit NNP NNP
Insurance NNP NNP
Corp NNP NNP
. . .
<s>
`` `` ``
The DT DT
era NN NN
of IN IN
the DT DT
1980s JJ CD
is VBZ VBZ
about IN IN
compound JJ JJ
interest NN NN
and CC CC
the DT DT
reaching VBG NN
for IN IN
it PRP PRP
, , ,
'' '' ''
says VBZ VBZ
James NNP NNP
Grant NNP NNP
, , ,
editor NN NN
of IN IN
Grant NNP NNP
's POS POS
Interest NNP NNP
Rate NNP NNP
Observer NNP NNP
, , ,
an DT DT
early JJ JJ
critic NN NN
of IN IN
the DT DT
junk NN NN
bond NN NN
market NN NN
. . .
<s>
`` `` ``
What WP WP
we PRP PRP
've VBP VBP
begun VBN VBN
to TO TO
see VB VB
is VBZ VBZ
the DT DT
damage NN NN
to TO TO
businesses NNS NNS
of IN IN
paying VBG VBG
exorbitant JJ JJ
compound NN NN
interest NN NN
. . .
<s>
Businesses NNS NNS
were VBD VBD
borrowing VBG VBG
at IN IN
interest NN NN
rates NNS NNS
higher JJR JJR
than IN IN
their PRP$ PRP$
own JJ JJ
earnings NNS NNS
. . .
<s>
What WP WP
we PRP PRP
're VBP VBP
seeing VBG VBG
now RB RB
is VBZ VBZ
the DT DT
wrenching JJ VBG
readjustment NN NN
of IN IN
asset NN NN
values NNS NNS
to TO TO
a DT DT
future NN NN
when WRB WRB
speculative-grade JJ JJ
debt NN NN
will MD MD
be VB VB
hard JJ JJ
to TO TO
obtain VB VB
rather RB RB
than IN IN
easy JJ JJ
. . .
<s>
'' '' ''
Friday NNP NNP
's POS POS
Market NN NNP
Activity NN NNP
Prices NNS NNS
of IN IN
Treasury NNP NNP
bonds NNS NNS
surged VBD VBD
in IN IN
the DT DT
biggest JJS JJS
rally NN NN
of IN IN
the DT DT
year NN NN
as IN IN
investors NNS NNS
fled VBD VBD
a DT DT
plummeting VBG VBG
stock NN NN
market NN NN
. . .
<s>
The DT DT
benchmark JJ NN
30-year JJ JJ
Treasury NNP NN
bond NN NN
was VBD VBD
quoted VBN VBN
6 CD CD
p.m. RB NN
EDT NNP NNP
at IN IN
103 CD CD
12\/32 CD CD
, , ,
compared VBN VBN
with IN IN
100 CD CD
27\/32 CD CD
Thursday NNP NNP
, , ,
up RB IN
2 CD CD
1\/2 CD CD
points NNS NNS
. . .
<s>
The DT DT
yield NN NN
on IN IN
the DT DT
benchmark NN NN
fell VBD VBD
to TO TO
7.82 CD CD
% NN NN
, , ,
the DT DT
lowest JJS JJS
since IN IN
March NNP NNP
31 CD CD
, , ,
1987 CD CD
, , ,
according VBG VBG
to TO TO
Technical NNP NNP
Data NNP NNP
Global NNP NNP
Markets NNP NNPS
Group NNP NNP
. . .
<s>
The DT DT
`` `` ``
flight NN NN
to TO TO
quality NN NN
'' '' ''
began VBD VBD
late RB RB
in IN IN
the DT DT
day NN NN
and CC CC
followed VBD VBD
a DT DT
precipitous JJ JJ
fall NN NN
in IN IN
the DT DT
stock NN NN
market NN NN
. . .
<s>
Treasurys NNS NNS
opened VBD VBD
lower RBR JJR
, , ,
reacting VBG VBG
negatively RB RB
to TO TO
news NN NN
that IN IN
the DT DT
producer NN NN
price NN NN
index NN NN
-- : :
a DT DT
measure NN NN
of IN IN
inflation NN NN
on IN IN
the DT DT
wholesale JJ JJ
level NN NN
-- : :
accelerated VBN VBD
in IN IN
September NNP NNP
. . .
<s>
Bond NN NN
prices NNS NNS
barely RB RB
budged VBN VBD
until IN IN
midday NN NN
. . .
<s>
Many JJ JJ
bond NN NN
market NN NN
participants NNS NNS
will MD MD
be VB VB
closely RB RB
eying VBG VBG
the DT DT
action NN NN
of IN IN
the DT DT
Federal NNP NNP
Reserve NNP NNP
, , ,
which WDT WDT
might MD MD
repeat VB VB
its PRP$ PRP$
October NNP NNP
1987 CD CD
injection NN NN
of IN IN
huge JJ JJ
amounts NNS NNS
of IN IN
liquidity NN NN
to TO TO
buoy VB VB
the DT DT
financial JJ JJ
markets NNS NNS
and CC CC
keep VB VB
the DT DT
economy NN NN
from IN IN
slowing VBG VBG
into IN IN
a DT DT
recession NN NN
. . .
<s>
Prices NNS NNS
of IN IN
municipals NNS NNS
, , ,
investment-grade JJ JJ
corporates NNS NNS
and CC CC
mortgage-backed JJ JJ
bonds NNS NNS
also RB RB
rose VBD VBD
, , ,
but CC CC
lagged VBD VBD
behind IN IN
their PRP$ PRP$
Treasury NNP NN
counterparts NNS NNS
. . .
<s>
Mortgage NN NN
securities NNS NNS
rose VBD VBD
in IN IN
hectic JJ JJ
trading NN NN
, , ,
with IN IN
most JJS JJS
of IN IN
the DT DT
activity NN NN
concentrated VBD VBN
in IN IN
Government NNP NNP
National NNP NNP
Mortgage NNP NNP
Association NNP NNP
9 CD CD
% NN NN
coupon NN NN
securities NNS NNS
, , ,
the DT DT
most RBS RBS
liquid JJ JJ
mortgage NN NN
issue NN NN
. . .
<s>
The DT DT
Ginnie NNP NNP
Mae NNP NNP
November NNP NNP
9 CD CD
% NN NN
issue NN NN
ended VBD VBD
at IN IN
98 CD CD
25\/32 CD CD
, , ,
up RB IN
7\/8 CD CD
point NN NN
on IN IN
the DT DT
day NN NN
, , ,
to TO TO
yield VB VB
about RB IN
9.28 CD CD
% NN NN
to TO TO
a DT DT
12-year JJ JJ
average JJ NN
life NN NN
assumption NN NN
. . .
<s>
Investment-grade JJ JJ
corporate JJ JJ
bonds NNS NNS
were VBD VBD
up RB IN
about RB IN
1\/2 CD CD
to TO TO
3\/4 CD CD
point NN NN
. . .
<s>
But CC CC
the DT DT
yield NN NN
spread NN VBD
between IN IN
lower-quality JJ NN
, , ,
investment-grade JJ JJ
issues NNS NNS
and CC CC
higher-quality NN NN
bonds NNS NNS
widened VBD VBD
. . .
<s>
And CC CC
the DT DT
yields NNS NNS
on IN IN
telephone NN NN
and CC CC
utility NN NN
issues NNS NNS
rose VBD VBD
relative JJ JJ
to TO TO
other JJ JJ
investment-grade JJ JJ
bonds NNS NNS
in IN IN
anticipation NN NN
of IN IN
this DT DT
week NN NN
's POS POS
$ $ $
3 CD CD
billion CD CD
bond NN NN
offering NN VBG
by IN IN
the DT DT
Tennessee NNP NNP
Valley NNP NNP
Authority NNP NNP
. . .
<s>
Despite IN IN
rumors NNS NNS
that IN IN
the DT DT
TVA NNP NNP
's POS POS
long-awaited JJ JJ
offering NN NN
would MD MD
be VB VB
postponed VBN VBN
because IN IN
of IN IN
the DT DT
debacle NN NN
in IN IN
the DT DT
equity NN NN
markets NNS NNS
, , ,
sources NNS NNS
in IN IN
the DT DT
underwriting NN NN
syndicate NN NN
said VBD VBD
they PRP PRP
expect VBP VBP
the DT DT
issue NN NN
will MD MD
be VB VB
priced VBN VBN
as IN IN
scheduled VBN VBN
. . .
<s>
One CD CD
of IN IN
the DT DT
sources NNS NNS
said VBD VBD
the DT DT
smaller JJR JJR
portions NNS NNS
of IN IN
$ $ $
750 CD CD
million CD CD
each DT DT
of IN IN
five-year JJ JJ
and CC CC
10-year JJ JJ
bonds NNS NNS
have VBP VBP
already RB RB
been VBN VBN
`` `` ``
substantially RB RB
oversubscribed VBN VBN
. . .
<s>
'' '' ''
Municipal JJ JJ
bonds NNS NNS
rose VBD VBD
as RB RB
much JJ RB
as IN IN
3\/4 CD CD
point NN NN
. . .
<s>
Roger NNP NNP
Lowenstein NNP NNP
contributed VBD VBD
to TO TO
this DT DT
article NN NN
. . .
<s>
Friday NNP NNP
's POS POS
190-point JJ JJ
plunge NN NN
in IN IN
stocks NNS NNS
does VBZ VBZ
not RB RB
come VB VBN
atop IN IN
the DT DT
climate NN NN
of IN IN
anxiety NN NN
that WDT WDT
dominated VBD VBD
financial JJ JJ
markets NNS NNS
just RB RB
prior RB RB
to TO TO
their PRP$ PRP$
1987 CD CD
October NNP NNP
crash NN NN
, , ,
and CC CC
mechanisms NNS NNS
have VBP VBP
been VBN VBN
put VBN VBN
in IN IN
place NN NN
to TO TO
keep VB VB
markets NNS NNS
more RBR RBR
orderly JJ JJ
. . .
<s>
Still RB RB
, , ,
the DT DT
lesson NN NN
is VBZ VBZ
about IN IN
the DT DT
same JJ JJ
: : :
On IN IN
Friday NNP NNP
the DT DT
13th CD JJ
, , ,
the DT DT
market NN NN
was VBD VBD
spooked VBN VBN
by IN IN
Washington NNP NNP
. . .
<s>
The DT DT
consensus NN NN
along IN IN
the DT DT
street NN NN
seems VBZ VBZ
to TO TO
be VB VB
that IN IN
the DT DT
plunge NN NN
was VBD VBD
triggered VBN VBN
by IN IN
the DT DT
financing NN VBG
problems NNS NNS
of IN IN
the DT DT
UAL NNP NNP
takeover NN NN
, , ,
and CC CC
it PRP PRP
's VBZ VBZ
certainly RB RB
true JJ JJ
the DT DT
rout NN NN
began VBD VBD
immediately RB RB
after IN IN
the DT DT
UAL NNP NNP
trading NN NN
halt NN NN
. . .
<s>
Still RB RB
, , ,
the DT DT
consensus NN NN
seems VBZ VBZ
almost RB RB
as IN RB
wide JJ JJ
that IN IN
one CD CD
faltering VBG VBG
bid NN NN
is VBZ VBZ
no DT DT
reason NN NN
to TO TO
write VB VB
down RP RP
the DT DT
value NN NN
of IN IN
all DT DT
U.S. NNP NNP
business NN NN
. . .
<s>
This DT DT
observation NN NN
leads VBZ VBZ
us PRP PRP
to TO TO
another DT DT
piece NN NN
of IN IN
news NN NN
moving VBG VBG
on IN IN
the DT DT
Dow NNP NNP
Jones NNP NNP
ticker NN NN
shortly RB RB
before IN IN
the DT DT
downturn NN NN
: : :
the DT DT
success NN NN
of IN IN
Senate NNP NNP
Democrats NNPS NNPS
in IN IN
stalling VBG VBG
the DT DT
capital NN NN
gains NNS NNS
tax NN NN
cut NN NN
. . .
<s>
The DT DT
real JJ JJ
value NN NN
of IN IN
all DT DT
shares NNS NNS
, , ,
after IN IN
all DT DT
, , ,
is VBZ VBZ
directly RB RB
impacted VBN VBN
by IN IN
the DT DT
tax NN NN
on IN IN
any DT DT
profits NNS NNS
( ( (
all PDT PDT
the DT DT
more RBR RBR
so RB RB
given VBN VBN
the DT DT
limits NNS NNS
on IN IN
deductions NNS NNS
for IN IN
losses NNS NNS
that WDT WDT
show VBP VBP
gains NNS NNS
are VBP VBP
not RB RB
`` `` ``
ordinary JJ JJ
income NN NN
'' '' ''
) ) )
. . .
<s>
And CC CC
market NN NN
expectations NNS NNS
clearly RB RB
have VBP VBP
been VBN VBN
raised VBN VBN
by IN IN
the DT DT
capital NN NN
gains NNS NNS
victory NN NN
in IN IN
the DT DT
House NNP NN
last JJ JJ
month NN NN
. . .
<s>
An DT DT
hour NN NN
before IN IN
Friday NNP NNP
's POS POS
plunge NN NN
, , ,
that DT DT
provision NN NN
was VBD VBD
stripped VBN VBN
from IN IN
the DT DT
tax NN NN
bill NN NN
, , ,
leaving VBG VBG
it PRP PRP
with IN IN
$ $ $
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billion CD CD
in IN IN
tax NN NN
increases NNS NNS
without IN IN
a DT DT
capital NN NN
gains NNS NNS
cut NN NN
. . .
<s>
There EX EX
is VBZ VBZ
a DT DT
great JJ JJ
deal NN NN
to TO TO
be VB VB
said VBN VBN
, , ,
to TO TO
be VB VB
sure JJ JJ
, , ,
for IN IN
stripping VBG VBG
the DT DT
garbage NN NN
out IN IN
of IN IN
the DT DT
reconciliation NN NN
bill NN NN
. . .
<s>
It PRP PRP
would MD MD
be VB VB
a DT DT
good JJ JJ
thing NN NN
if IN IN
Congress NNP NNP
started VBD VBD
to TO TO
decide VB VB
issues NNS NNS
one-by-one JJ JJ
on IN IN
their PRP$ PRP$
individual JJ JJ
merits NNS NNS
without IN IN
trickery : NN
. . .
<s>
For IN IN
one CD CD
thing NN NN
, , ,
no DT DT
one NN CD
doubts VBZ VBZ
that IN IN
the DT DT
capital NN NN
gains NNS NNS
cut VBN NN
would MD MD
pass VB VB
on IN IN
an DT DT
up-or-down JJ JJ
vote NN NN
. . .
<s>
Since IN IN
Senate NNP NNP
leaders NNS NNS
have VBP VBP
so RB RB
far RB RB
fogged VBD JJ
it PRP PRP
up RP RP
with IN IN
procedural JJ JJ
smokescreens NNS NNS
, , ,
promises NNS NNS
of IN IN
a DT DT
cleaner JJR JJR
bill NN NN
are VBP VBP
suspect JJ JJ
. . .
<s>
Especially RB RB
so RB RB
since IN IN
President NNP NNP
Bush NNP NNP
has VBZ VBZ
been VBN VBN
weakened VBN VBN
by IN IN
the DT DT
Panama NNP NNP
fiasco NN NN
. . .
<s>
To TO TO
the DT DT
extent NN NN
that IN IN
the DT DT
UAL NNP NNP
troubles NNS NNS
contributed VBD VBD
to TO TO
the DT DT
plunge NN NN
, , ,
they PRP PRP
are VBP VBP
another DT DT
instance NN NN
of IN IN
Washington NNP NNP
's POS POS
sticky JJ JJ
fingers NNS NNS
. . .
<s>
As IN IN
the DT DT
best JJS JJS
opportunities NNS NNS
for IN IN
corporate JJ JJ
restructurings NNS NNS
are VBP VBP
exhausted VBN VBN
of IN IN
course NN NN
, , ,
at IN IN
some DT DT
point NN NN
the DT DT
market NN NN
will MD MD
start VB VB
to TO TO
reject VB VB
them PRP PRP
. . .
<s>
But CC CC
the DT DT
airlines NNS NNS
are VBP VBP
scarcely RB RB
a DT DT
clear JJ JJ
case NN NN
, , ,
given VBN VBN
anti-takeover JJ JJ
mischief NN NN
by IN IN
Secretary NNP NNP
of IN IN
Transportation NNP NNP
Skinner NNP NNP
, , ,
who WP WP
professes VBZ VBZ
to TO TO
believe VB VB
safety NN NN
will MD MD
be VB VB
compromised VBN VBN
if IN IN
KLM NNP NNP
and CC CC
British NNP NNP
Airways NNPS NNPS
own JJ VBP
interests NNS NNS
in IN IN
companies NNS NNS
that WDT WDT
fly VBP VBP
airplanes NNS NNS
. . .
<s>
Worse JJR NNP
, , ,
Congress NNP NNP
has VBZ VBZ
started VBN VBN
to TO TO
jump VB VB
on IN IN
the DT DT
Skinner NNP NNP
bandwagon NN NN
. . .
<s>
James NNP NNP
Oberstar NNP NNP
, , ,
the DT DT
Minnesota NNP NNP
Democrat NNP NNP
who WP WP
chairs VBZ VBZ
the DT DT
Public NNP NNP
Works NNP NNPS
and CC CC
Transportation NNP NNP
Committee NNP NNP
's POS POS
aviation NN NN
subcommittee NN NN
, , ,
has VBZ VBZ
put VBN VBN
an DT DT
anti-airline JJ NN
takeover NN NN
bill NN NN
on IN IN
supersonic JJ JJ
speed NN NN
so IN IN
that IN IN
it PRP PRP
would MD MD
be VB VB
passed VBN VBN
in IN IN
time NN NN
to TO TO
affect VB VB
the DT DT
American JJ JJ
and CC CC
United NNP NNP
Air NNP NNP
Lines NNPS NNPS
bids NNS NNS
. . .
<s>
It PRP PRP
would MD MD
give VB VB
Mr. NNP NNP
Skinner NNP NNP
up IN IN
to TO TO
50 CD CD
days NNS NNS
to TO TO
`` `` ``
review VB VB
'' '' ''
any DT DT
bid NN NN
for IN IN
15 CD CD
% NN NN
or CC CC
more JJR JJR
of IN IN
the DT DT
voting VBG VBG
stock NN NN
of IN IN
any DT DT
U.S. NNP NNP
carrier NN NN
with IN IN
revenues NNS NNS
of IN IN
$ $ $
1 CD CD
billion CD CD
or CC CC
more JJR JJR
. . .
<s>
So IN IN
the DT DT
UAL NNP NNP
deal NN NN
has VBZ VBZ
problems NNS NNS
, , ,
and CC CC
the DT DT
market NN NN
loses VBZ VBZ
190 CD CD
points NNS NNS
. . .
<s>
Congratulations NNS UH
, , ,
Mr. NNP NNP
Secretary NNP NNP
and CC CC
Mr. NNP NNP
Congressman NNP NNP
. . .
<s>
In IN IN
the DT DT
1987 CD CD
crash NN NN
, , ,
remember VB VB
, , ,
the DT DT
market NN NN
was VBD VBD
shaken VBN VBN
by IN IN
a DT DT
Danny NNP NNP
Rostenkowski NNP NNP
proposal NN NN
to TO TO
tax NN NN
takeovers NNS NNS
out IN IN
of IN IN
existance : NN
. . .
<s>
Even RB RB
more RBR RBR
important JJ JJ
, , ,
in IN IN
our PRP$ PRP$
view NN NN
, , ,
was VBD VBD
the DT DT
Treasury NNP NNP
's POS POS
threat NN NN
to TO TO
thrash VB VB
the DT DT
dollar NN NN
. . .
<s>
The DT DT
Treasury NNP NNP
is VBZ VBZ
doing VBG VBG
the DT DT
same JJ JJ
thing NN NN
today NN NN
; : :
thankfully RB RB
, , ,
the DT DT
dollar NN NN
is VBZ VBZ
not RB RB
under IN IN
1987-style JJ JJ
pressure NN NN
. . .
<s>
Also RB RB
, , ,
traders NNS NNS
are VBP VBP
in IN IN
better JJR JJR
shape NN NN
today NN NN
than IN IN
in IN IN
1987 CD CD
to TO TO
survive VB VB
selling VBG VBG
binges NNS NNS
. . .
<s>
They PRP PRP
are VBP VBP
better RBR RB
capitalized VBN VBN
. . .
<s>
They PRP PRP
are VBP VBP
in IN IN
less JJR JJR
danger NN NN
of IN IN
losing VBG VBG
liquidity NN NN
simply RB RB
because IN IN
of IN IN
tape NN NN
lags VBZ NNS
and CC CC
clearing NN NN
and CC CC
settlement NN NN
delays NNS NNS
. . .
<s>
The DT DT
Fed NNP NNP
promises VBZ VBZ
any DT DT
needed VBN VBN
liquidity NN NN
. . .
<s>
The DT DT
Big NNP NNP
Board NNP NNP
's POS POS
liaison NN NN
with IN IN
the DT DT
Chicago NNP NNP
Board NNP NNP
of IN IN
Trade NNP NNP
has VBZ VBZ
improved VBN VBN
; : :
it PRP PRP
will MD MD
be VB VB
interesting JJ JJ
to TO TO
learn VB VB
if IN IN
`` `` ``
circuit NN NN
breakers NNS NNS
'' '' ''
prove VBP VBP
to TO TO
be VB VB
a DT DT
good JJ JJ
idea NN NN
. . .
<s>
In IN IN
any DT DT
event NN NN
, , ,
some DT DT
traders NNS NNS
see VBP VBP
stocks NNS NNS
as IN IN
underpriced JJ VBN
today NN NN
, , ,
unlike IN IN
1987 CD CD
. . .
<s>
There EX EX
is VBZ VBZ
nothing NN NN
wrong JJ JJ
with IN IN
the DT DT
market NN NN
that WDT WDT
ca MD MD
n't RB RB
be VB VB
cured VBN VBN
by IN IN
a DT DT
little JJ JJ
coherence NN NN
and CC CC
common JJ JJ
sense NN NN
in IN IN
Washington NNP NNP
. . .
<s>
But CC CC
on IN IN
the DT DT
bearish JJ JJ
side NN NN
, , ,
that WDT WDT
may MD MD
be VB VB
too RB RB
much JJ JJ
to TO TO
expect VB VB
. . .
<s>
First NNP NNP
Chicago NNP NNP
Corp. NNP NNP
posted VBD VBD
a DT DT
third-quarter JJ NN
loss NN NN
of IN IN
$ $ $
23.3 CD CD
million CD CD
after IN IN
joining VBG VBG
other JJ JJ
big JJ JJ
banks NNS NNS
in IN IN
further RBR RB
adding VBG VBG
to TO TO
its PRP$ PRP$
reserves NNS NNS
for IN IN
losses NNS NNS
on IN IN
foreign JJ JJ
loans NNS NNS
. . .
<s>
The DT DT
parent NN NN
company NN NN
of IN IN
First NNP NNP
National NNP NNP
Bank NNP NNP
of IN IN
Chicago NNP NNP
, , ,
with IN IN
$ $ $
48 CD CD
billion CD CD
in IN IN
assets NNS NNS
, , ,
said VBD VBD
it PRP PRP
set VBD VBD
aside RB RB
$ $ $
200 CD CD
million CD CD
to TO TO
absorb VB VB
losses NNS NNS
on IN IN
loans NNS NNS
and CC CC
investments NNS NNS
in IN IN
financially RB RB
troubled JJ VBN
countries NNS NNS
. . .
<s>
The DT DT
addition NN NN
, , ,
on IN IN
top NN NN
of IN IN
two CD CD
big JJ JJ
1987 CD CD
additions NNS NNS
to TO TO
foreign-loan JJ JJ
reserves NNS NNS
, , ,
brings VBZ VBZ
the DT DT
reserve NN NN
to TO TO
a DT DT
level NN NN
equaling VBG VBG
79 CD CD
% NN NN
of IN IN
medium-term JJ JJ
and CC CC
long-term JJ JJ
loans NNS NNS
outstanding JJ JJ
to TO TO
troubled JJ VBN
nations NNS NNS
. . .
<s>
First NNP NNP
Chicago NNP NNP
since IN IN
1987 CD CD
has VBZ VBZ
reduced VBN VBN
its PRP$ PRP$
loans NNS NNS
to TO TO
such JJ JJ
nations NNS NNS
to TO TO
$ $ $
1.7 CD CD
billion CD CD
from IN IN
$ $ $
3 CD CD
billion CD CD
. . .
<s>
Despite IN IN
this DT DT
loss NN NN
, , ,
First NNP NNP
Chicago NNP NNP
said VBD VBD
it PRP PRP
does VBZ VBZ
n't RB RB
need VB VB
to TO TO
sell VB VB
stock NN NN
to TO TO
raise VB VB
capital NN NN
. . .
<s>
During IN IN
the DT DT
quarter NN NN
, , ,
the DT DT
company NN NN
realized VBD VBD
a DT DT
pretax JJ NN
gain NN NN
of IN IN
$ $ $
60.4 CD CD
million CD CD
from IN IN
the DT DT
sale NN NN
of IN IN
its PRP$ PRP$
First NNP NNP
Chicago NNP NNP
Investment NNP NNP
Advisors NNP NNPS
unit NN NN
. . .
<s>
Combined VBN VBN
foreign JJ JJ
exchange NN NN
and CC CC
bond NN NN
trading NN NN
profits NNS NNS
dipped VBD VBD
24 CD CD
% NN NN
against IN IN
last JJ JJ
year NN NN
's POS POS
third JJ JJ
quarter NN NN
, , ,
to TO TO
$ $ $
38.2 CD CD
million CD CD
from IN IN
$ $ $
50.5 CD CD
million CD CD
. . .
<s>
Gains NNS NNS
from IN IN
First NNP NNP
Chicago NNP NNP
's POS POS
venture NN NN
capital NN NN
unit NN NN
, , ,
a DT DT
big JJ JJ
leveraged JJ JJ
buy-out NN NN
investor NN NN
, , ,
rose VBD VBD
32 CD CD
% NN NN
to TO TO
$ $ $
34 CD CD
million CD CD
from IN IN
$ $ $
25.7 CD CD
million CD CD
a DT DT
year NN NN
ago RB IN
. . .
<s>
Interest NN NN
income NN NN
and CC CC
most JJS JJS
fee NN NN
income NN NN
was VBD VBD
strong JJ JJ
. . .
<s>
Greece NNP NNP
's POS POS
second JJ JJ
bout NN NN
of IN IN
general JJ JJ
elections NNS NNS
this DT DT
year NN NN
is VBZ VBZ
slated VBN VBN
for IN IN
Nov. NNP NNP
5 CD CD
. . .
<s>
For IN IN
those DT DT
hoping VBG VBG
to TO TO
see VB VB
a DT DT
modicum NN NN
of IN IN
political JJ JJ
normalcy NN NN
restored VBN VBD
-- : :
in IN IN
view NN NN
of IN IN
Greece NNP NNP
's POS POS
eight-year JJ JJ
misadventure NN NN
under IN IN
autocratic JJ JJ
pseudosocialism NN NN
and CC CC
subsequent JJ JJ
three-month JJ JJ
hitch NN NN
with IN IN
a DT DT
conservative-communist JJ JJ
coalition NN NN
government NN NN
-- : :
there EX EX
is VBZ VBZ
but CC CC
one CD CD
bright JJ JJ
sign NN NN
: : :
The DT DT
scandals NNS NNS
still RB RB
encircling VBG VBG
former JJ JJ
Prime NNP NNP
Minister NNP NNP
Andreas NNP NNP
Papandreou NNP NNP
and CC CC
his PRP$ PRP$
fallen JJ VBN
socialist JJ JJ
government NN NN
are VBP VBP
like IN JJ
flies VBZ NNS
buzzing VBG VBG
around IN IN
a DT DT
rotting VBG VBG
carcass : NN
. . .
<s>
In IN IN
the DT DT
mid-June NNP NNP
round NN NN
of IN IN
voting NN NN
, , ,
Greeks : NNPS
gave VBD VBD
no DT DT
clear JJ JJ
mandate NN NN
to TO TO
any DT DT
single JJ JJ
political JJ JJ
party NN NN
. . .
<s>
The DT DT
ad NN NN
interim JJ NN
coalition NN NN
government NN NN
that WDT WDT
emerged VBD VBD
from IN IN
post-electoral JJ JJ
hagglings NNS NNS
was VBD VBD
, , ,
in IN IN
essence NN NN
, , ,
little RB RB
more JJR JJR
than IN IN
the DT DT
ill-conceived JJ JJ
offspring NN NN
of IN IN
ideological JJ JJ
miscegenation NN NN
: : :
On IN IN
one CD CD
side NN NN
, , ,
the DT DT
center-right JJ JJ
New NNP NNP
Democracy NNP NNP
Party NNP NNP
, , ,
headed VBN VBN
by IN IN
Constantine NNP NNP
Mitsotakis NNP NNP
. . .
<s>
On IN IN
the DT DT
other JJ JJ
, , ,
the DT DT
so-called JJ JJ
Coalition NNP NNP
of IN IN
the DT DT
Left VBN NNP
and CC CC
Progress NNP NNP
-- : :
a DT DT
quaint NN JJ
and CC CC
rather RB RB
deceptive JJ JJ
title NN NN
for IN IN
a DT DT
merger NN NN
of IN IN
the DT DT
pro-Soviet JJ JJ
Communist NNP NNP
Party NNP NNP
of IN IN
Greece NNP NNP
and CC CC
its PRP$ PRP$
Euro-Communist JJ NNP
cousin NN NN
, , ,
the DT DT
Hellenic NNP NNP
Left VBD NNP
. . .
<s>
The DT DT
unifying JJ VBG
bond NN NN
for IN IN
this DT DT
left-right JJ JJ
mismatch NN NN
was VBD VBD
plain JJ JJ
: : :
PASOK NN NNP
( ( (
Mr. NNP NNP
Papandreou NNP NNP
's POS POS
party NN NN
) ) )
as IN IN
common JJ JJ
political JJ JJ
enemy NN NN
. . .
<s>
The DT DT
ostensible JJ JJ
goal NN NN
was VBD VBD
a DT DT
mop-up NN NN
of IN IN
government NN NN
corruption NN NN
, , ,
purportedly RB RB
at IN IN
all DT DT
levels NNS NNS
, , ,
but CC CC
the DT DT
main JJ JJ
marks NNS NNS
were VBD VBD
Mr. NNP NNP
Papandreou NNP NNP
and CC CC
his PRP$ PRP$
closest JJS JJS
associates NNS NNS
. . .
<s>
In IN IN
point NN NN
of IN IN
fact NN NN
, , ,
this DT DT
catharsis NN NN
was VBD VBD
overdue JJ JJ
by IN IN
decades NNS NNS
. . .
<s>
When WRB WRB
reduced VBN VBN
to TO TO
buzzword NN NN
status NN NN
in IN IN
ex FW JJ
parte : NN
pledges NNS NNS
, , ,
however RB RB
, , ,
the DT DT
notion NN NN
transmogrified VBN VBD
into IN IN
a DT DT
promised VBN VBN
assault NN NN
, , ,
with IN IN
targets NNS NNS
primarily RB RB
for IN IN
political JJ JJ
gains NNS NNS
, , ,
not RB RB
justice NN NN
. . .
<s>
With IN IN
regard NN NN
to TO TO
Greece NNP NNP
's POS POS
long-bubbling JJ JJ
bank-looting : JJ
scandal NN NN
, , ,
Mr. NNP NNP
Papandreou NNP NNP
's POS POS
principal JJ JJ
accuser NN NN
remains VBZ VBZ
George NNP NNP
Koskotas NNP NNP
, , ,
former JJ JJ
owner NN NN
of IN IN
the DT DT
Bank NNP NNP
of IN IN
Crete NNP NNP
and CC CC
self-confessed JJ JJ
embezzler NN NN
, , ,
now RB RB
residing VBG VBG
in IN IN
a DT DT
jail NN NN
cell NN NN
in IN IN
Salem NNP NNP
, , ,
Mass. NNP NNP
, , ,
from IN IN
where WRB WRB
he PRP PRP
is VBZ VBZ
fighting VBG VBG
extradition NN NN
proceedings NNS NNS
that WDT WDT
would MD MD
return VB VB
him PRP PRP
to TO TO
Greece NNP NNP
. . .
<s>
Mr. NNP NNP
Koskotas NNP NNP
's POS POS
credibility NN NN
is VBZ VBZ
, , ,
at IN IN
best RBS JJS
, , ,
problematic JJ JJ
. . .
<s>
He PRP PRP
has VBZ VBZ
ample JJ JJ
motive NN NN
to TO TO
shift VB VB
the DT DT
blame NN NN
, , ,
and CC CC
his PRP$ PRP$
testimony NN NN
has VBZ VBZ
also RB RB
been VBN VBN
found VBN VBN
less RBR RBR
than IN IN
forthright : JJ
on IN IN
numerous JJ JJ
points NNS NNS
. . .
<s>
Nevertheless RB RB
, , ,
the DT DT
New NNP NNP
Democracy NNP NNP
and CC CC
Communist JJ NNP
parties NNS NNS
herald VB VBP
his PRP$ PRP$
assertions NNS NNS
as IN IN
proof NN NN
of IN IN
PASOK NNP NNP
complicity NN NN
. . .
<s>
Among IN IN
unanswered JJ JJ
questions NNS NNS
are VBP VBP
whether IN IN
Mr. NNP NNP
Papandreou NNP NNP
received VBD VBD
$ $ $
23 CD CD
million CD CD
of IN IN
stolen VBN VBN
Bank NNP NNP
of IN IN
Crete NNP NNP
funds NNS NNS
and CC CC
an DT DT
additional JJ JJ
$ $ $
734,000 CD CD
in IN IN
bribes NNS NNS
, , ,
as IN RB
contended VBN VBN
; : :
whether IN IN
the DT DT
prime JJ JJ
minister NN NN
ordered VBD VBD
state NN NN
agencies NNS NNS
to TO TO
deposit VB VB
some DT DT
$ $ $
57 CD CD
million CD CD
in IN IN
Mr. NNP NNP
Koskotas NNP NNP
's POS POS
bank NN NN
and CC CC
then RB RB
skim VB VB
off RP RP
the DT DT
interest NN NN
; : :
and CC CC
, , ,
what WP WP
PASOK NNP NNP
's POS POS
cut NN NN
was VBD VBD
from IN IN
the DT DT
$ $ $
210 CD CD
million CD CD
Mr. NNP NNP
Koskotas NNP NNP
pinched : VBD
. . .
<s>
Two CD CD
former JJ JJ
ministers NNS NNS
were VBD VBD
so RB RB
heavily RB RB
implicated VBN VBN
in IN IN
the DT DT
Koskotas NNP NNP
affair NN NN
that IN IN
PASOK NNP NNP
members NNS NNS
of IN IN
Parliament NNP NNP
voted VBD VBD
to TO TO
refer VB VB
them PRP PRP
to TO TO
the DT DT
special JJ JJ
court NN NN
. . .
<s>
But CC CC
eluding VBG VBG
parliamentary JJ JJ
probe NN NN
was VBD VBD
the DT DT
case NN NN
of IN IN
millions NNS NNS
of IN IN
drachmas : NN
Mr. NNP NNP
Koskotas NNP NNP
funneled VBD VBD
into IN IN
New NNP NNP
Democracy NNP NNP
coffers NNS NNS
. . .
<s>
In IN IN
the DT DT
end NN NN
, , ,
the DT DT
investigation NN NN
produced VBD VBD
only RB RB
circumstantial JJ JJ
evidence NN NN
and CC CC
`` `` ``
indications NNS NNS
'' '' ''
that WDT IN
point VBP NN
to TO TO
PASOK VB NNP
, , ,
not RB RB
clinching VBG VBG
proof NN NN
. . .
<s>
On IN IN
another DT DT
issue NN NN
, , ,
Greeks NNPS NNPS
were VBD VBD
told VBN VBN
how WRB WRB
their PRP$ PRP$
national JJ JJ
intelligence NN NN
agency NN NN
, , ,
the DT DT
EYP NNP NNP
, , ,
regularly RB RB
monitored VBD VBD
the DT DT
telephone NN NN
conversations NNS NNS
of IN IN
prominent JJ JJ
figures NNS NNS
, , ,
including VBG VBG
key JJ JJ
opposition NN NN
politicians NNS NNS
, , ,
journalists NNS NNS
and CC CC
PASOK NNP NNP
cabinet NN NN
members NNS NNS
. . .
<s>
Despite IN IN
convincing VBG JJ
arguments NNS NNS
, , ,
it PRP PRP
was VBD VBD
never RB RB
established VBN VBN
that IN IN
Mr. NNP NNP
Papandreou NNP NNP
personally RB RB
ordered VBD VBD
or CC CC
directed VBD VBD
the DT DT
wiretaps NNS NNS
. . .
<s>
The DT DT
central JJ JJ
weakness NN NN
of IN IN
the DT DT
`` `` ``
scandals NNS NNS
'' '' ''
debates NNS NNS
was VBD VBD
pointed VBN VBN
up RP RP
especially RB RB
well RB RB
when WRB WRB
discussions NNS NNS
focused VBD VBD
on IN IN
arms NNS NNS
deals NNS NNS
and CC CC
kickbacks NNS NNS
. . .
<s>
The DT DT
coalition NN NN
government NN NN
tried VBD VBD
to TO TO
show VB VB
that IN IN
PASOK NNP NNP
ministers NNS NNS
had VBD VBD
received VBN VBN
hefty JJ JJ
sums NNS NNS
for IN IN
OKing VBG NNP
the DT DT
purchase NN NN
of IN IN
F-16 CD NNP
Fighting NN NNP
Falcon NNP NNP
and CC CC
Mirage NNP NNP
2000 CD CD
combat NN NN
aircraft NN NN
, , ,
produced VBN VBN
by IN IN
the DT DT
U.S.based JJ JJ
General NNP NNP
Dynamics NNP NNP
Corp. NNP NNP
and CC CC
France NNP NNP
's POS POS
Avions NNP NNP
Marcel NNP NNP
Dassault NNP NNP
, , ,
respectively RB RB
. . .
<s>
Naturally RB RB
, , ,
neither DT CC
General NNP NNP
Dynamics NNPS NNP
nor CC CC
Dassault NNP NNP
could MD MD
be VB VB
expected VBN VBN
to TO TO
hamper VB VB
its PRP$ PRP$
prospective JJ JJ
future JJ NN
dealings NNS NNS
by IN IN
making VBG VBG
disclosures NNS NNS
of IN IN
sums NNS NNS
paid VBN VBN
( ( (
or CC CC
not RB RB
) ) )
to TO TO
various JJ JJ
Greek JJ JJ
officials NNS NNS
for IN IN
services NNS NNS
rendered VBN VBN
. . .
<s>
So IN IN
it PRP PRP
seems VBZ VBZ
that IN IN
Mr. NNP NNP
Mitsotakis NNP NNP
and CC CC
his PRP$ PRP$
communist NN NN
chums NNS NNS
may MD MD
have VB VB
unwittingly RB RB
served VBN VBN
Mr. NNP NNP
Papandreou NNP NNP
a DT DT
moral JJ JJ
victory NN NN
on IN IN
a DT DT
platter NN JJ
: : :
PASOK NN NNP
, , ,
whether IN IN
guilty JJ JJ
or CC CC
not RB RB
, , ,
can MD MD
now RB RB
traipse VB VB
the DT DT
countryside NN NN
condemning VBG VBG
the DT DT
whole JJ JJ
affair NN NN
as IN IN
a DT DT
witch NN NN
hunt NN NN
at IN IN
Mr. NNP NNP
Papandreou NNP NNP
's POS POS
expense NN NN
. . .
<s>
But CC CC
while IN IN
verbal JJ JJ
high JJ JJ
jinks NNS NNS
alone RB RB
wo MD MD
n't RB RB
help VB VB
PASOK : NNP
regain VB VB
power NN NN
, , ,
Mr. NNP NNP
Papandreou NNP NNP
should MD MD
never RB RB
be VB VB
underestimated VBN VBN
. . .
<s>
First RB RB
came VBD VBD
his PRP$ PRP$
predictable JJ JJ
fusillade NN NN
: : :
He PRP PRP
charged VBD VBD
the DT DT
Coalition NNP NNP
of IN IN
the DT DT
Left VBN NNP
and CC CC
Progress NNP NNP
had VBD VBD
sold VBN VBN
out RP RP
its PRP$ PRP$
leftist JJ JJ
tenets NNS NNS
by IN IN
collaborating VBG VBG
in IN IN
a DT DT
right-wing JJ JJ
plot NN NN
aimed VBN VBN
at IN IN
ousting VBG VBG
PASOK NNP NNP
and CC CC
thwarting VBG VBG
the DT DT
course NN NN
of IN IN
socialism NN NN
in IN IN
Greece NNP NNP
. . .
<s>
Then RB RB
, , ,
to TO TO
buttress VB VB
his PRP$ PRP$
credibility NN NN
with IN IN
the DT DT
left NN JJ
, , ,
he PRP PRP
enticed VBD VBD
some DT DT
smaller JJR JJR
leftist JJ JJ
parties NNS NNS
to TO TO
stand VB VB
for IN IN
election NN NN
under IN IN
the DT DT
PASOK : NNP
banner NN NN
. . .
<s>
Next RB JJ
, , ,
he PRP PRP
continued VBD VBD
to TO TO
court VB VB
the DT DT
communists NNS NNS
-- : :
many JJ JJ
of IN IN
whom WP WP
feel VBP VBP
betrayed VBN VBN
by IN IN
the DT DT
left-right JJ JJ
coalition NN NN
's POS POS
birth NN NN
-- : :
by IN IN
bringing VBG VBG
into IN IN
PASOK : NNP
a DT DT
well-respected JJ JJ
Communist NNP NNP
Party NNP NNP
candidate NN NN
. . .
<s>
For IN IN
balance NN NN
, , ,
and CC CC
in IN IN
hopes NNS NNS
of IN IN
gaining VBG VBG
some DT DT
disaffected JJ JJ
centrist JJ JJ
votes NNS NNS
, , ,
he PRP PRP
managed VBD VBD
to TO TO
attract VB VB
a DT DT
former JJ JJ
New NNP NNP
Democracy NNP NNP
Party NNP NNP
representative NN NN
and CC CC
known VBN VBN
political JJ JJ
enemy NN NN
of IN IN
Mr. NNP NNP
Mitsotakis NNP NNP
. . .
<s>
Thus RB RB
PASOK : NNP
heads NNS VBZ
for IN IN
the DT DT
polls NNS NNS
not RB RB
only RB RB
with IN IN
diminished VBN VBN
scandal-stench JJ NN
, , ,
but CC CC
also RB RB
with IN IN
`` `` ``
seals NNS NNS
of IN IN
approval NN NN
'' '' ''
from IN IN
representatives NNS NNS
of IN IN
its PRP$ PRP$
harshest JJS JJS
accusers NNS NNS
. . .
<s>
Crucial : JJ
as IN IN
these DT DT
elections NNS NNS
are VBP VBP
for IN IN
Greece NNP NNP
, , ,
pressing VBG VBG
issues NNS NNS
of IN IN
state NN NN
are VBP VBP
getting VBG VBG
lost VBN VBN
in IN IN
the DT DT
shuffle NN NN
. . .
<s>
The DT DT
country NN NN
's POS POS
future JJ JJ
NATO NNP NNP
participation NN NN
remains VBZ VBZ
unsure JJ JJ
, , ,
for IN IN
instance NN NN
. . .
<s>
Greece NNP NNP
also RB RB
must MD MD
revamp VB VB
major JJ JJ
pieces NNS NNS
of IN IN
legislation NN NN
in IN IN
preparation NN NN
for IN IN
the DT DT
1992 CD CD
targets NNS NNS
of IN IN
heightened VBN VBN
Common NNP NNP
Market NNP NNP
cooperation NN NN
. . .
<s>
Greece NNP NNP
's POS POS
bilateral JJ JJ
relations NNS NNS
with IN IN
the DT DT
U.S. NNP NNP
need NN VBP
attention NN NN
soon RB RB
as RB IN
well RB RB
. . .
<s>
For IN IN
one CD CD
, , ,
the DT DT
current JJ JJ
accord NN NN
concerning VBG VBG
U.S. NNP NNP
military JJ JJ
bases NNS NNS
in IN IN
Greece NNP NNP
lapses NNS VBZ
in IN IN
May NNP NNP
1990 CD CD
. . .
<s>
Negotiations NNS NNS
for IN IN
a DT DT
new JJ JJ
agreement NN NN
were VBD VBD
frozen VBN VBN
before IN IN
the DT DT
June NNP NNP
elections NNS NNS
, , ,
but CC CC
the DT DT
clock NN NN
is VBZ VBZ
running VBG VBG
. . .
<s>
Another DT DT
matter NN NN
of IN IN
concern NN NN
is VBZ VBZ
the DT DT
extradition NN NN
of IN IN
Mohammed NNP NNP
Rashid NNP NNP
, , ,
a DT DT
Palestinian JJ JJ
terrorist JJ NN
who WP WP
is VBZ VBZ
wanted VBN VBN
in IN IN
the DT DT
U.S. NNP NNP
for IN IN
the DT DT
1982 CD CD
bombing NN NN
of IN IN
a DT DT
Pan NNP NNP
American NNP NNP
Airways NNPS NNPS
flight NN NN
. . .
<s>
The DT DT
Greek JJ NNP
courts NNS NNS
have VBP VBP
decided VBN VBN
in IN IN
favor NN NN
of IN IN
extradition NN NN
in IN IN
the DT DT
Rashid NNP NNP
case NN NN
, , ,
but CC CC
the DT DT
matter NN NN
awaits VBZ VBZ
final JJ JJ
approval NN NN
from IN IN
Greece NNP NNP
's POS POS
next JJ JJ
justice NN NN
minister NN NN
. . .
<s>
The DT DT
Greeks NNPS NNPS
seem VBP VBP
barely RB RB
aware JJ JJ
of IN IN
the DT DT
importance NN NN
of IN IN
the DT DT
case NN NN
as IN IN
a DT DT
litmus NN NN
test NN NN
of IN IN
whether IN IN
Greece NNP NNP
will MD MD
be VB VB
counted VBN VBN
in IN RB
or CC CC
out IN RB
for IN IN
international JJ JJ
efforts NNS NNS
to TO TO
combat VB VB
terrorism NN NN
. . .
<s>
That DT IN
PASOK : NNP
could MD MD
win VB VB
the DT DT
elections NNS NNS
outright RB RB
is VBZ VBZ
improbable JJ JJ
; : :
the DT DT
Greek JJ JJ
press NN NN
, , ,
previously RB RB
eager JJ JJ
to TO TO
palm VB VB
off RP RP
PASOK NNP NNP
's POS POS
line NN NN
, , ,
has VBZ VBZ
turned VBN VBN
on IN IN
Mr. NNP NNP
Papandreou NNP NNP
with IN IN
a DT DT
wild-eyed JJ JJ
vengeance NN NN
. . .
<s>
Yet RB RB
the DT DT
possibility NN NN
of IN IN
another DT DT
lash-up JJ JJ
government NN NN
is VBZ VBZ
all DT RB
too RB RB
real JJ JJ
. . .
<s>
If IN IN
Mr. NNP NNP
Papandreou NNP NNP
becomes VBZ VBZ
the DT DT
major JJ JJ
opposition NN NN
leader NN NN
, , ,
he PRP PRP
could MD MD
hamstring VBG VB
a DT DT
conservative-led JJ JJ
coalition NN NN
. . .
<s>
Also RB RB
, , ,
he PRP PRP
could MD MD
force VB VB
new JJ JJ
elections NNS NNS
early JJ JJ
next JJ JJ
year NN NN
by IN IN
frustrating VBG VBG
the DT DT
procedures NNS NNS
for IN IN
the DT DT
election NN NN
of IN IN
the DT DT
president NN NN
of IN IN
the DT DT
republic NN NN
in IN IN
March NNP NNP
. . .
<s>
New NNP NNP
Democracy NNP NNP
has VBZ VBZ
once RB RB
again RB RB
glaringly RB RB
underestimated VBD VBN
the DT DT
opponent NN NN
and CC CC
linked VBD VBN
its PRP$ PRP$
own JJ JJ
prospects NNS NNS
to TO TO
negative JJ JJ
reaction NN NN
against IN IN
PASOK NNP NNP
, , ,
forgetting VBG VBG
to TO TO
tend VB VB
to TO TO
either DT CC
program NN NN
clarity NN NN
or CC CC
the DT DT
rectification NN NN
of IN IN
internal JJ JJ
squabbles NNS NNS
. . .
<s>
As IN IN
for IN IN
Mr. NNP NNP
Papandreou NNP NNP
? . .
<s>
He PRP PRP
's VBZ VBZ
not RB RB
exactly RB RB
sitting VBG VBG
pretty RB RB
at IN IN
this DT DT
stage NN NN
. . .
<s>
But CC CC
since IN IN
he PRP PRP
is VBZ VBZ
undoubtedly RB RB
one CD CD
of IN IN
the DT DT
most RBS RBS
proficient JJ JJ
bull NN NN
slingers NNS NNS
who WP WP
ever RB RB
raked JJ VBD
muck NN NN
, , ,
it PRP PRP
seems VBZ VBZ
far RB RB
wiser JJR JJR
to TO TO
view VB VB
him PRP PRP
as IN IN
sidelined VBN VBN
, , ,
but CC CC
certainly RB RB
not RB RB
yet RB RB
eliminated VBN VBN
. . .
<s>
Mr. NNP NNP
Carpenter NNP NNP
, , ,
a DT DT
regional JJ JJ
correspondent NN NN
for IN IN
National NNP NNP
Review NNP NNP
, , ,
has VBZ VBZ
lived VBN VBN
in IN IN
Athens NNP NNP
since IN IN
1981 CD CD
. . .
<s>
U.S. NNP NNP
OFFICIALS NNS NNS
MOVED VBD VBD
to TO TO
head VB VB
off RP RP
any DT DT
repeat NN NN
of IN IN
Black NNP NNP
Monday NNP NNP
today NN NN
following VBG VBG
Friday NNP NNP
's POS POS
plunge NN NN
in IN IN
stock NN NN
prices NNS NNS
. . .
<s>
Fed NNP NNP
Chairman NNP NNP
Greenspan NNP NNP
signaled VBD VBD
that IN IN
the DT DT
central JJ JJ
bank NN NN
was VBD VBD
prepared VBN VBN
to TO TO
inject VB VB
massive JJ JJ
amounts NNS NNS
of IN IN
money NN NN
into IN IN
the DT DT
banking NN NN
system NN NN
to TO TO
prevent VB VB
a DT DT
financial JJ JJ
crisis NN NN
. . .
<s>
Other JJ JJ
U.S. NNP NNP
and CC CC
foreign JJ JJ
officials NNS NNS
also RB RB
mapped VBD VBN
out RP RP
plans NNS NNS
, , ,
though IN IN
they PRP PRP
kept VBD VBD
their PRP$ PRP$
moves NNS NNS
quiet JJ JJ
to TO TO
avoid VB VB
making VBG VBG
the DT DT
financial JJ JJ
markets NNS NNS
more RBR RBR
jittery JJ JJ
. . .
<s>
Friday NNP NNP
's POS POS
sell-off NN NN
was VBD VBD
triggered VBN VBN
by IN IN
the DT DT
collapse NN NN
of IN IN
UAL NNP NNP
's POS POS
buy-out NN NN
plan NN NN
and CC CC
a DT DT
big JJ JJ
rise NN NN
in IN IN
producer NN NN
prices NNS NNS
. . .
<s>
The DT DT
Dow NNP NNP
Jones NNP NNP
industrials NNS NNS
skidded VBD VBD
190.58 CD CD
, , ,
to TO TO
2569.26 CD CD
. . .
<s>
The DT DT
junk NN NN
bond NN NN
market NN NN
came VBD VBD
to TO TO
a DT DT
standstill NN NN
, , ,
while IN IN
Treasury NNP NN
bonds NNS NNS
soared VBD VBD
and CC CC
the DT DT
dollar NN NN
fell VBD VBD
. . .
<s>
Japanese JJ JJ
stocks NNS NNS
dropped VBD VBD
early JJ JJ
Monday NNP NNP
, , ,
but CC CC
by IN IN
late JJ JJ
morning NN NN
were VBD VBD
turning VBG VBG
around RP IN
. . .
<s>
The DT DT
dollar NN NN
was VBD VBD
trading VBG VBG
sharply RB RB
lower JJR JJR
in IN IN
Tokyo NNP NNP
. . .
<s>
Prospects NNS NNS
for IN IN
a DT DT
new JJ JJ
UAL NNP NNP
buy-out NN NN
proposal NN NN
appear VBP VBP
bleak JJ JJ
. . .
<s>
Many JJ JJ
banks NNS NNS
refused VBD VBD
to TO TO
back VB VB
the DT DT
$ $ $
6.79 CD CD
billion CD CD
transaction NN NN
, , ,
but CC CC
bankers NNS NNS
said VBD VBD
it PRP PRP
was VBD VBD
not RB RB
from IN IN
any DT DT
unwillingness NN NN
to TO TO
finance VB VB
takeovers NNS NNS
. . .
<s>
The DT DT
decision NN NN
was VBD VBD
based VBN VBN
solely RB RB
on IN IN
problems NNS NNS
with IN IN
the DT DT
UAL NNP NNP
management-pilot NN NN
plan NN NN
, , ,
they PRP PRP
said VBD VBD
. . .
<s>
The DT DT
surge NN NN
in IN IN
producer NN NN
prices NNS NNS
in IN IN
September NNP NNP
followed VBD VBD
three CD CD
months NNS NNS
of IN IN
declines NNS NNS
, , ,
but CC CC
analysts NNS NNS
were VBD VBD
divided VBN VBN
on IN IN
whether IN IN
the DT DT
0.9 CD CD
% NN NN
jump NN NN
signaled VBD VBD
a DT DT
severe JJ JJ
worsening NN NN
of IN IN
inflation NN NN
. . .
<s>
Also RB RB
, , ,
retail JJ JJ
sales NNS NNS
grew VBD VBD
0.5 CD CD
% NN NN
last JJ JJ
month NN NN
. . .
<s>
A DT DT
capital-gains NNS JJ
tax NN NN
cut NN NN
was VBD VBD
removed VBN VBN
from IN IN
the DT DT
Senate NNP NNP
's POS POS
deficit NN NN
reduction NN NN
bill NN NN
, , ,
but CC CC
proponents NNS NNS
still RB RB
hope VBP VB
to TO TO
enact VB VB
the DT DT
cut NN NN
this DT DT
year NN NN
. . .
<s>
Bush NNP NNP
wo MD MD
n't RB RB
press VB VB
for IN IN
a DT DT
capital-gains NNS JJ
provision NN NN
in IN IN
the DT DT
final JJ JJ
deficit NN NN
bill NN NN
when WRB WRB
House-Senate NNP NNP
conferees NNS NNS
meet VBP VBP
later RB RB
this DT DT
week NN NN
. . .
<s>
General NNP NNP
Motors NNPS NNPS
signaled VBD VBD
that DT IN
up RP IN
to TO TO
five CD CD
North JJ NNP
American JJ NNP
assembly NN NN
plants NNS NNS
may MD MD
close VB VB
by IN IN
the DT DT
mid-1990s NNS CD
as IN IN
it PRP PRP
tries VBZ VBZ
to TO TO
cut VB VB
excess JJ JJ
capacity NN NN
. . .
<s>
U.S. NNP NNP
car NN NN
and CC CC
truck NN NN
sales NNS NNS
fell VBD VBD
12.6 CD CD
% NN NN
in IN IN
early JJ JJ
October NNP NNP
, , ,
the DT DT
first JJ JJ
sales NNS NNS
period NN NN
of IN IN
the DT DT
1990-model JJ JJ
year NN NN
, , ,
dragged VBD VBD
down RP IN
by IN IN
a DT DT
sharp JJ JJ
decline NN NN
in IN IN
GM NNP NNP
sales NNS NNS
. . .
<s>
Warner NNP NNP
and CC CC
Sony NNP NNP
are VBP VBP
entangled JJ VBN
in IN IN
a DT DT
legal JJ JJ
battle NN NN
over IN IN
movie NN NN
producers NNS NNS
Peter NNP NNP
Gruber NNP NNP
and CC CC
Jon NNP NNP
Peters NNP NNP
. . .
<s>
The DT DT
fight NN NN
could MD MD
set VB VB
back RB RP
Sony NNP NNP
's POS POS
plans NNS NNS
to TO TO
enter VB VB
the DT DT
U.S. NNP NNP
movie NN NN
business NN NN
. . .
<s>
Hooker NNP NNP
's POS POS
U.S. NNP NNP
unit NN NN
received VBD VBD
a DT DT
$ $ $
409 CD CD
million CD CD
bid NN NN
for IN IN
most JJS JJS
of IN IN
its PRP$ PRP$
real-estate NN NN
and CC CC
shopping-center JJ NN
assets NNS NNS
from IN IN
an DT DT
investor NN NN
group NN NN
. . .
<s>
The DT DT
offer NN NN
does VBZ VBZ
n't RB RB
include VB VB
Bonwit NNP NNP
Teller NNP NNP
or CC CC
B. NNP NNP
Altman NNP NNP
. . .
<s>
The DT DT
Boeing NNP NNP
strike NN NN
is VBZ VBZ
starting VBG VBG
to TO TO
affect VB VB
airlines NNS NNS
. . .
<s>
America NNP NNP
West NNP NNP
said VBD VBD
Friday NNP NNP
it PRP PRP
will MD MD
postpone VB VB
its PRP$ PRP$
new JJ JJ
service NN NN
out IN IN
of IN IN
Houston NNP NNP
because IN IN
of IN IN
delays NNS NNS
in IN IN
receiving VBG VBG
aircraft NN NN
from IN IN
Boeing NNP NNP
. . .
<s>
Saatchi NNP NNP
& CC CC
Saatchi NNP NNP
would MD MD
launch VB VB
a DT DT
management NN NN
buy-out NN NN
if IN IN
a DT DT
hostile JJ JJ
suitor NN NN
emerged VBD VBD
, , ,
an DT DT
official NN NN
said VBD VBD
. . .
<s>
British NNP NNP
Aerospace NNP NNP
and CC CC
France NNP NNP
's POS POS
Thomson-CSF NNP NNP
are VBP VBP
nearing VBG VBG
a DT DT
pact NN NN
to TO TO
merge VB VB
guided-missile JJ JJ
divisions NNS NNS
. . .
<s>
New NNP NNP
U.S. NNP NNP
steel-import JJ JJ
quotas NNS NNS
will MD MD
give VB VB
a DT DT
bigger JJR JJR
share NN NN
to TO TO
developing VBG VBG
nations NNS NNS
that WDT WDT
have VBP VBP
relatively RB RB
unsubsidized JJ JJ
steel NN NN
industries NNS NNS
. . .
<s>
Japan NNP NNP
's POS POS
steel NN NN
quota NN NN
will MD MD
be VB VB
cut VBN VBN
significantly RB RB
. . .
<s>
Four CD CD
ailing VBG VBG
S&Ls NNS NNS
were VBD VBD
sold VBN VBN
off RP RP
by IN IN
government NN NN
regulators NNS NNS
, , ,
but CC CC
low JJ JJ
bids NNS NNS
prevented VBD VBD
the DT DT
sale NN NN
of IN IN
a DT DT
fifth NN JJ
. . .
<s>
Markets NNS NNS
-- : :
Stocks NNS NNS
: : :
Volume NN NN
251,170,000 CD CD
shares NNS NNS
. . .
<s>
Dow NNP NNP
Jones NNP NNP
industrials NNS NNS
2569.26 CD CD
, , ,
off RB IN
190.58 CD CD
; : :
transportation NN NN
1406.29 CD CD
, , ,
off RB IN
78.06 CD CD
; : :
utilities NNS NNS
211.96 CD CD
, , ,
off RB IN
7.29 CD CD
. . .
<s>
Bonds NNS NNS
: : :
Shearson NNP NNP
Lehman NNP NNP
Hutton NNP NNP
Treasury NNP NNP
index NN NN
3421.29 CD CD
, , ,
up RB IN
Commodities NNS NNS
: : :
Dow NNP NNP
Jones NNP NNP
futures NNS NNS
index NN NN
129.87 CD CD
, , ,
up RB IN
0.01 CD CD
; : :
spot NN NN
index NN NN
129.25 CD CD
, , ,
up RB IN
0.28 CD CD
. . .
<s>
Dollar NN NN
: : :
142.10 CD CD
yen NN NN
, , ,
off RB IN
2.07 CD CD
; : :
1.8740 CD CD
marks NNS NNS
, , ,
off RB IN
0.0343 CD CD
. . .
<s>
A DT DT
federal JJ JJ
appeals NNS NNS
court NN NN
in IN IN
San NNP NNP
Francisco NNP NNP
ruled VBD VBD
that IN IN
shareholders NNS NNS
ca MD MD
n't RB RB
hold VB VB
corporate JJ JJ
officials NNS NNS
liable JJ JJ
for IN IN
false JJ JJ
sales NNS NNS
projections NNS NNS
on IN IN
new JJ JJ
products NNS NNS
if IN IN
the DT DT
news NN NN
media NNS NNS
concurrently RB RB
revealed VBD VBD
substantial JJ JJ
information NN NN
about IN IN
the DT DT
product NN NN
's POS POS
flaws NNS NNS
. . .
<s>
The DT DT
ruling NN NN
stems VBZ VBZ
from IN IN
a DT DT
1984 CD CD
suit NN NN
filed VBN VBN
by IN IN
shareholders NNS NNS
of IN IN
Apple NNP NNP
Computer NNP NNP
Inc. NNP NNP
, , ,
claiming VBG VBG
that IN IN
company NN NN
officials NNS NNS
misled VBD VBD
investors NNS NNS
about IN IN
the DT DT
expected VBN VBN
success NN NN
of IN IN
the DT DT
Lisa NNP NNP
computer NN NN
, , ,
introduced VBN VBN
in IN IN
1983 CD CD
. . .
<s>
Lawyers NNS NNS
specializing VBG VBG
in IN IN
shareholder NN NN
suits NNS NNS
said VBD VBD
they PRP PRP
are VBP VBP
concerned JJ VBN
that IN IN
use NN NN
of IN IN
the DT DT
`` `` ``
press NN NN
defense NN NN
'' '' ''
by IN IN
corporations NNS NNS
may MD MD
become VB VB
popular JJ JJ
as IN IN
a DT DT
result NN NN
of IN IN
the DT DT
ruling NN NN
. . .
<s>
According VBG VBG
to TO TO
the DT DT
suit NN NN
, , ,
Apple NNP NNP
officials NNS NNS
created VBD VBD
public JJ JJ
excitement NN NN
by IN IN
touting VBG VBG
Lisa NNP NNP
as IN IN
an DT DT
office NN NN
computer NN NN
that WDT WDT
would MD MD
revolutionize VB VB
the DT DT
workplace NN NN
and CC CC
be VB VB
extremely RB RB
successful JJ JJ
in IN IN
its PRP$ PRP$
first JJ JJ
year NN NN
. . .
<s>
The DT DT
plaintiffs NNS NNS
also RB RB
alleged VBD VBN
that IN IN
prior RB JJ
to TO TO
the DT DT
fanfare NN NN
, , ,
the DT DT
company NN NN
circulated VBD VBD
internal JJ JJ
memos NNS NNS
indicating VBG VBG
problems NNS NNS
with IN IN
Lisa NNP NNP
. . .
<s>
The DT DT
suit NN NN
claimed VBD VBD
Apple NNP NNP
's POS POS
stock NN NN
climbed VBD VBD
to TO TO
a DT DT
high JJ JJ
of IN IN
$ $ $
63.50 CD CD
a DT DT
share NN NN
on IN IN
the DT DT
basis NN NN
of IN IN
the DT DT
company NN NN
's POS POS
optimistic JJ JJ
forecasts NNS NNS
. . .
<s>
But CC CC
when WRB WRB
the DT DT
company NN NN
revealed VBD VBD
Lisa NNP NNP
's POS POS
poor JJ JJ
sales NNS NNS
late RB RB
in IN IN
1983 CD CD
, , ,
the DT DT
stock NN NN
plummeted VBD VBD
to TO TO
a DT DT
low JJ JJ
of IN IN
$ $ $
17.37 CD CD
a DT DT
share NN NN
, , ,
according VBG VBG
to TO TO
the DT DT
suit NN NN
. . .
<s>
The DT DT
shareholders NNS NNS
claimed VBD VBD
more JJR JJR
than IN IN
$ $ $
150 CD CD
million CD CD
in IN IN
losses NNS NNS
. . .
<s>
In IN IN
1987 CD CD
, , ,
the DT DT
San NNP NNP
Francisco NNP NNP
district NN NN
court NN NN
dismissed VBD VBD
the DT DT
case NN NN
largely RB RB
because IN IN
newspaper NN NN
reports NNS NNS
had VBD VBD
sufficiently RB RB
counterbalanced VBN VBN
the DT DT
company NN NN
's POS POS
statements NNS NNS
by IN IN
alerting VBG VBG
consumers NNS NNS
to TO TO
Lisa NNP NNP
's POS POS
problems NNS NNS
. . .
<s>
Late RB JJ
last JJ JJ
month NN NN
, , ,
the DT DT
appeals NNS NNS
court NN NN
agreed VBD VBD
that IN IN
most JJS JJS
of IN IN
the DT DT
case NN NN
should MD MD
be VB VB
dismissed VBN VBN
. . .
<s>
However RB RB
, , ,
it PRP PRP
gave VBD VBD
the DT DT
shareholders NNS NNS
the DT DT
right NN NN
to TO TO
pursue VB VB
a DT DT
small JJ JJ
portion NN NN
of IN IN
their PRP$ PRP$
claim NN NN
that IN WDT
pertains VBZ VBZ
to TO TO
Lisa NNP NNP
's POS POS
disk NN NN
drive NN NN
, , ,
known VBN VBN
as IN IN
Twiggy : NNP
. . .
<s>
The DT DT
court NN NN
ruled VBD VBD
that IN IN
the DT DT
news NN NN
media NNS NNS
did VBD VBD
n't RB RB
reveal VB VB
Twiggy NNP NNP
's POS POS
problems NNS NNS
at IN IN
the DT DT
time NN NN
. . .
<s>
Lawyers NNS NNS
are VBP VBP
worried VBN VBN
about IN IN
the DT DT
ruling NN NN
's POS POS
implication NN NN
in IN IN
other JJ JJ
shareholder NN NN
suits NNS NNS
but CC CC
pointed VBD VBD
out RP RP
that IN IN
the DT DT
court NN NN
stressed VBD VBD
that IN IN
the DT DT
ruling NN NN
should MD MD
be VB VB
regarded VBN VBN
as IN IN
very RB RB
specific JJ JJ
to TO TO
the DT DT
Apple NNP NNP
case NN NN
. . .
<s>
`` `` ``
The DT DT
court NN NN
was VBD VBD
careful JJ JJ
to TO TO
say VB VB
that IN IN
the DT DT
adverse JJ JJ
information NN NN
appeared VBD VBD
in IN IN
the DT DT
very JJ RB
same JJ JJ
articles NNS NNS
and CC CC
received VBD VBD
the DT DT
same JJ JJ
attention NN NN
as IN IN
the DT DT
company NN NN
's POS POS
statements NNS NNS
, , ,
'' '' ''
said VBD VBD
Patrick NNP NNP
Grannon NNP NNP
, , ,
a DT DT
Los NNP NNP
Angeles NNP NNP
lawyer NN NN
at IN IN
the DT DT
firm NN NN
of IN IN
Greenfield NNP NNP
& CC CC
Chimicles NNP NNP
, , ,
which WDT WDT
was VBD VBD
n't RB RB
involved VBN VBN
in IN IN
the DT DT
case NN NN
. . .
<s>
`` `` ``
The DT DT
court NN NN
is VBZ VBZ
saying VBG VBG
that IN IN
the DT DT
adverse JJ JJ
facts NNS NNS
have VBP VBP
to TO TO
be VB VB
transferred VBN VBN
to TO TO
the DT DT
market NN NN
with IN IN
equal JJ JJ
intensity NN NN
and CC CC
credibility NN NN
as IN IN
the DT DT
statements NNS NNS
of IN IN
corporate JJ JJ
insiders NNS NNS
. . .
<s>
'' '' ''
Shareholders NNS NNS
' POS POS
attorneys NNS NNS
at IN IN
the DT DT
New NNP NNP
York NNP NNP
firm NN NN
of IN IN
Milberg NNP NNP
, , ,
Weiss NNP NNP
, , ,
Bershad NNP NNP
, , ,
Specthrie NNP NNP
& CC CC
Lerach NNP NNP
last JJ JJ
week NN NN
petitioned : VBD
for IN IN
a DT DT
rehearing NN NN
of IN IN
the DT DT
case NN NN
. . .
<s>
They PRP PRP
wrote VBD VBD
: : :
`` `` ``
The DT DT
opinion NN NN
establishes VBZ VBZ
a DT DT
new JJ JJ
rule NN NN
of IN IN
immunity NN NN
-- : :
that IN IN
if IN IN
a DT DT
wide JJ JJ
variety NN NN
of IN IN
opinions NNS NNS
on IN IN
a DT DT
company NN NN
's POS POS
business NN NN
are VBP VBP
publicly RB RB
reported VBN VBN
, , ,
the DT DT
company NN NN
can MD MD
say VB VB
anything NN NN
without IN IN
fear NN NN
of IN IN
securities NNS NNS
liability NN NN
. . .
<s>
'' '' ''
NFL NNP NNP
ORDERED VBD VBN
to TO TO
pay VB VB
$ $ $
5.5 CD CD
million CD CD
in IN IN
legal JJ JJ
fees NNS NNS
to TO TO
defunct JJ VB
The DT DT
National NNP NNP
Football NNP NNP
League NNP NNP
is VBZ VBZ
considering VBG VBG
appealing VBG VBG
the DT DT
ruling NN NN
stemming VBG VBG
from IN IN
the DT DT
U.S. NNP NNP
Football NNP NNP
League NNP NNP
's POS POS
largely RB RB
unsuccessful JJ JJ
antitrust JJ JJ
suit NN NN
against IN IN
the DT DT
NFL NNP NNP
. . .
<s>
A DT DT
jury NN NN
in IN IN
1986 CD CD
agreed VBD VBD
with IN IN
the DT DT
USFL NNP NNP
's POS POS
claims NNS NNS
that IN IN
the DT DT
NFL NNP NNP
monopolized VBN VBD
major JJ JJ
league NN NN
football NN NN
. . .
<s>
But CC CC
the DT DT
jury NN NN
awarded VBD VBD
the DT DT
USFL NNP NNP
only RB RB
$ $ $
1 CD CD
in IN IN
damages NNS NNS
, , ,
trebled VBD VBD
because IN IN
of IN IN
the DT DT
antitrust JJ JJ
claims NNS NNS
. . .
<s>
Last JJ JJ
week NN NN
, , ,
the DT DT
U.S. NNP NNP
Court NNP NNP
of IN IN
Appeals NNPS NNPS
in IN IN
New NNP NNP
York NNP NNP
upheld VBD VBD
a DT DT
$ $ $
5.5 CD CD
million CD CD
award NN NN
of IN IN
attorneys NNS NNS
fees NNS NNS
to TO TO
the DT DT
defunct JJ JJ
league NN NN
. . .
<s>
Harvey NNP NNP
D. NNP NNP
Myerson NNP NNP
, , ,
of IN IN
Myerson NNP NNP
& CC CC
Kuhn NNP NNP
, , ,
then RB RB
of IN IN
Finley NNP NNP
, , ,
Kumble NNP NNP
, , ,
Wagner NNP NNP
, , ,
Heine NNP NNP
, , ,
Underberg NNP NNP
, , ,
Manley NNP NNP
, , ,
Myerson NNP NNP
& CC CC
Casey NNP NNP
, , ,
was VBD VBD
the DT DT
lead JJ NN
trial NN NN
lawyer NN NN
, , ,
and CC CC
his PRP$ PRP$
new JJ JJ
firm NN NN
pursued VBD VBD
the DT DT
application NN NN
appeal NN NN
. . .
<s>
Douglas NNP NNP
R. NNP NNP
Pappas NNP NNP
of IN IN
Myerson NNP NNP
& CC CC
Kuhn NNP NNP
says VBZ VBZ
about IN IN
$ $ $
5.3 CD CD
million CD CD
of IN IN
the DT DT
award NN NN
goes VBZ VBZ
directly RB RB
to TO TO
the DT DT
USFL NNP NNP
to TO TO
reimburse VB VB
it PRP PRP
for IN IN
fees NNS NNS
already RB RB
paid VBN VBN
. . .
<s>
Myerson NNP NNP
& CC CC
Kuhn NNP NNP
will MD MD
get VB VB
about IN IN
$ $ $
260,000 CD CD
for IN IN
the DT DT
costs NNS NNS
of IN IN
pressing VBG VBG
the DT DT
application NN NN
. . .
<s>
The DT DT
federal JJ JJ
appeals NNS NNS
court NN NN
held VBD VBD
that IN IN
the DT DT
nominal JJ JJ
damages NNS NNS
and CC CC
the DT DT
failure NN NN
to TO TO
prove VB VB
all DT DT
claims NNS NNS
did VBD VBD
n't RB RB
exclude VB VB
the DT DT
USFL NNP NNP
from IN IN
being VBG VBG
reimbursed VBN VBN
. . .
<s>
Antitrust NNP JJ
laws NNS NNS
provide VBP VBP
that IN IN
injured VBN VBN
parties NNS NNS
may MD MD
be VB VB
reimbursed VBN VBN
for IN IN
lawyers NNS NNS
' POS POS
fees NNS NNS
. . .
<s>
But CC CC
Shepard NNP NNP
Goldfein NNP NNP
, , ,
an DT DT
attorney NN NN
for IN IN
the DT DT
NFL NNP NNP
, , ,
says VBZ VBZ
his PRP$ PRP$
client NN NN
will MD MD
consider VB VB
asking VBG VBG
for IN IN
another DT DT
hearing NN NN
or CC CC
appealing VBG VBG
to TO TO
the DT DT
U.S. NNP NNP
Supreme NNP NNP
Court NNP NNP
. . .
<s>
Mr. NNP NNP
Goldfein NNP NNP
, , ,
of IN IN
Skadden NNP NNP
, , ,
Arps NNP NNP
, , ,
Slate NNP NNP
, , ,
Meagher NNP NNP
& CC CC
Flom NNP NNP
in IN IN
New NNP NNP
York NNP NNP
, , ,
says VBZ VBZ
the DT DT
ruling NN NN
is VBZ VBZ
wrong JJ JJ
and CC CC
the DT DT
fee NN NN
award NN NN
is VBZ VBZ
excessive JJ JJ
because IN IN
the DT DT
USFL NNP NNP
lost VBD VBD
its PRP$ PRP$
major JJ JJ
claims NNS NNS
, , ,
including VBG VBG
its PRP$ PRP$
contention NN NN
that IN IN
the DT DT
NFL NNP NNP
restrained VBD JJ
trade NN NN
through IN IN
television NN NN
contracts NNS NNS
. . .
<s>
`` `` ``
The DT DT
USFL NNP NNP
was VBD VBD
not RB RB
the DT DT
prevailing VBG VBG
party NN NN
, , ,
'' '' ''
Mr. NNP NNP
Goldfein NNP NNP
insists VBZ VBZ
. . .
<s>
HOUSTON-CALGARY : NNP
ALLIANCE NNP NNP
: : :
Fulbright NNP NNP
& CC CC
Jaworski NNP NNP
of IN IN
Houston NNP NNP
and CC CC
Fenerty NNP NNP
, , ,
Robertson NNP NNP
, , ,
Fraser NNP NNP
& CC CC
Hatch NNP NNP
of IN IN
Calgary NNP NNP
, , ,
Alberta NNP NNP
, , ,
are VBP VBP
affiliating VBG VBG
to TO TO
help VB VB
serve VB VB
their PRP$ PRP$
energy-industry NN NN
clients NNS NNS
. . .
<s>
The DT DT
affiliation NN NN
is VBZ VBZ
believed VBN VBN
to TO TO
be VB VB
the DT DT
first JJ JJ
such JJ JJ
cross-border JJ JJ
arrangement NN NN
among IN IN
major JJ JJ
law NN NN
firms NNS NNS
. . .
<s>
The DT DT
firms NNS NNS
are VBP VBP
n't RB RB
required VBN VBN
to TO TO
refer VB VB
work NN NN
exclusively RB RB
to TO TO
each DT DT
other JJ JJ
and CC CC
remain VBP VB
separate JJ JJ
organizations NNS NNS
. . .
<s>
But CC CC
they PRP PRP
will MD MD
work VB VB
together RB RB
on IN IN
energy NN NN
- : :
, , ,
environmental JJ JJ
- : :
and CC CC
fair-trade-related JJ JJ
issues NNS NNS
and CC CC
conduct NN VB
seminars NNS NNS
on IN IN
topics NNS NNS
of IN IN
mutual JJ JJ
interest NN NN
, , ,
said VBD VBD
Gibson NNP NNP
Gayle NNP NNP
Jr. NNP NNP
of IN IN
585-lawyer JJ NN
Fulbright NNP NNP
& CC CC
Jaworski NNP NNP
. . .
<s>
In IN IN
addition NN NN
, , ,
Fulbright NNP NNP
& CC CC
Jaworski NNP NNP
's POS POS
Washington NNP NNP
, , ,
D.C. NNP NNP
, , ,
office NN NN
will MD MD
play VB VB
a DT DT
key JJ JJ
role NN NN
as IN IN
the DT DT
firms NNS NNS
work VBP VBP
together RB RB
on IN IN
regulatory JJ JJ
issues NNS NNS
, , ,
particularly RB RB
natural-gas JJ NN
exports NNS NNS
, , ,
for IN IN
their PRP$ PRP$
clients NNS NNS
. . .
<s>
The DT DT
arrangement NN NN
, , ,
reached VBN VBN
after IN IN
about IN IN
eight CD CD
months NNS NNS
of IN IN
negotiations NNS NNS
, , ,
grew VBD VBD
out IN IN
of IN IN
80-lawyer JJ NN
Fenerty NNP NNP
Robertson NNP NNP
's POS POS
desire NN NN
to TO TO
develop VB VB
ties NNS NNS
with IN IN
a DT DT
U.S. NNP NNP
firm NN NN
in IN IN
light NN NN
of IN IN
relaxed VBD VBN
trade NN NN
barriers NNS NNS
between IN IN
the DT DT
U.S. NNP NNP
and CC CC
Canada NNP NNP
, , ,
said VBD VBD
Francis NNP NNP
M. NNP NNP
Saville NNP NNP
of IN IN
Fenerty NNP NNP
Robertson NNP NNP
. . .
<s>
IN IN IN
WHAT WDT WP
MAY NNP MD
SIGNAL NNP VB
a DT DT
turnaround NN NN
for IN IN
asbestos NN NN
manufacturers NNS NNS
, , ,
W.R. NNP NNP
Grace NNP NNP
& CC CC
Co. NNP NNP
won VBD VBD
a DT DT
3 CD CD
1\/2-week JJ JJ
trial NN NN
in IN IN
Pittsburgh NNP NNP
over IN IN
whether IN IN
it PRP PRP
should MD MD
be VB VB
required VBN VBN
to TO TO
remove VB VB
asbestos NN NN
fireproofing NN NN
from IN IN
a DT DT
local JJ JJ
high JJ JJ
school NN NN
. . .
<s>
Mount NNP NNP
Lebanon NNP NNP
High NNP NNP
School NNP NNP
, , ,
near IN IN
Pittsburgh NNP NNP
, , ,
sought VBD VBD
$ $ $
21 CD CD
million CD CD
in IN IN
compensatory JJ JJ
damages NNS NNS
from IN IN
Grace NNP NNP
, , ,
arguing VBG VBG
that IN IN
the DT DT
asbestos NN NN
, , ,
which WDT WDT
can MD MD
cause VB VB
respiratory JJ JJ
diseases NNS NNS
and CC CC
lung NN NN
cancer NN NN
, , ,
posed VBD VBD
a DT DT
risk NN NN
to TO TO
students NNS NNS
. . .
<s>
Grace NN NNP
successfully RB RB
contended VBD VBD
that IN IN
removing VBG VBG
the DT DT
fire NN NN
retardant NN NN
would MD MD
pose VB VB
a DT DT
greater JJR JJR
health NN NN
risk NN NN
than IN IN
leaving VBG VBG
it PRP PRP
alone RB RB
. . .
<s>
A DT DT
spokesman NN NN
for IN IN
the DT DT
company NN NN
said VBD VBD
the DT DT
verdict NN NN
is VBZ VBZ
thought VBN VBN
to TO TO
be VB VB
the DT DT
first JJ JJ
in IN IN
favor NN NN
of IN IN
an DT DT
asbestos NN NN
manufacturer NN NN
where WRB WRB
the DT DT
plaintiff NN NN
was VBD VBD
a DT DT
school NN NN
and CC CC
the DT DT
asbestos NN NN
in IN IN
question NN NN
was VBD VBD
used VBN VBN
for IN IN
fireproofing NN VBG
. . .
<s>
FCC NNP NNP
COUNSEL NNP NN
JOINS NNP VBZ
FIRM NNP NN
: : :
Diane NNP NNP
S. NNP NNP
Killory NNP NNP
will MD MD
join VB VB
500-lawyer JJ NN
Morrison NNP NNP
& CC CC
Foerster NNP NNP
as IN IN
a DT DT
partner NN NN
in IN IN
its PRP$ PRP$
Washington NNP NNP
, , ,
D.C. NNP NNP
, , ,
office NN NN
in IN IN
mid-November NNP NNP
. . .
<s>
She PRP PRP
will MD MD
help VB VB
develop VB VB
the DT DT
mass-media JJ NNS
practice NN NN
of IN IN
the DT DT
San NNP NNP
Francisco-based JJ JJ
firm NN NN
's POS POS
communications NNS NNS
group NN NN
. . .
<s>
Ms. NNP NNP
Killory NNP NNP
, , ,
35 CD CD
years NNS NNS
old JJ JJ
, , ,
resigned VBD VBD
as IN IN
Federal NNP NNP
Communications NNPS NNP
Commission NNP NNP
general JJ JJ
counsel NN NN
early RB RB
this DT DT
month NN NN
after IN IN
nearly RB RB
three CD CD
years NNS NNS
in IN IN
that DT DT
post NN NN
. . .
<s>
She PRP PRP
was VBD VBD
the DT DT
first JJ JJ
woman NN NN
to TO TO
be VB VB
appointed VBN VBN
FCC NNP NNP
general JJ JJ
counsel NN NN
. . .
<s>
RICHARD NNP NNP
P. NNP NNP
MAGURNO NNP NNP
, , ,
formerly RB RB
Eastern NNP NNP
Airlines NNP NNP
' POS POS
top JJ NN
lawyer NN NN
, , ,
joined VBD VBD
the DT DT
New NNP NNP
York NNP NNP
law NN NN
firm NN NN
of IN IN
Lord NNP NNP
Day NNP NNP
& CC CC
Lord NNP NNP
, , ,
Barrett NNP NNP
Smith NNP NNP
as IN IN
a DT DT
partner NN NN
. . .
<s>
Mr. NNP NNP
Magurno NNP NNP
, , ,
45 CD CD
, , ,
spent VBD VBD
17 CD CD
years NNS NNS
at IN IN
the DT DT
Miami NNP NNP
airline NN NN
unit NN NN
of IN IN
Houston-based JJ JJ
Texas NNP NNP
Air NNP NNP
Corp. NNP NNP
and CC CC
was VBD VBD
named VBN VBN
general JJ JJ
counsel NN NN
in IN IN
1984 CD CD
. . .
<s>
He PRP PRP
left VBD VBD
the DT DT
company NN NN
in IN IN
1987 CD CD
. . .
<s>
Mr. NNP NNP
Magurno NNP NNP
said VBD VBD
he PRP PRP
will MD MD
split VB VB
his PRP$ PRP$
time NN NN
between IN IN
the DT DT
200-lawyer JJ NN
firm NN NN
's POS POS
offices NNS NNS
in IN IN
Washington NNP NNP
, , ,
D.C. NNP NNP
, , ,
and CC CC
New NNP NNP
York NNP NNP
, , ,
with IN IN
specialties NNS NNS
in IN IN
aviation NN NN
and CC CC
labor NN NN
law NN NN
. . .
<s>
Apple NNP NNP
Computer NNP NNP
Inc. NNP NNP
said VBD VBD
it PRP PRP
will MD MD
offer VB VB
cash NN NN
rebates NNS NNS
on IN IN
several JJ JJ
of IN IN
its PRP$ PRP$
machines NNS NNS
from IN IN
Oct. NNP NNP
14 CD CD
to TO TO
Dec. VB NNP
31. LS CD
, , ,
as IN IN
part NN NN
of IN IN
a DT DT
holiday-season JJ JJ
sales NNS NNS
promotion NN NN
. . .
<s>
Apple NNP NNP
will MD MD
offer VB VB
a DT DT
$ $ $
150 CD CD
rebate NN NN
on IN IN
its PRP$ PRP$
Apple NNP NNP
IIGS : NNP
with IN IN
any DT DT
Apple NNP NNP
Monitor NNP NNP
and CC CC
disk NN NN
drive NN NN
; : :
$ $ $
200 CD CD
on IN IN
the DT DT
basic JJ JJ
Macintosh NNP NNP
Plus CC NNP
central JJ JJ
processing NN NN
unit NN NN
; : :
$ $ $
250 CD CD
on IN IN
the DT DT
Macintosh NNP NNP
SE NNP NNP
central JJ JJ
processing NN NN
unit NN NN
; : :
$ $ $
250 CD CD
on IN IN
the DT DT
Macintosh NNP NNP
SE\/30 NNP NNP
cpu NNP NN
, , ,
and CC CC
$ $ $
300 CD CD
on IN IN
a DT DT
Macintosh NNP NNP
IIcx NNP NNP
with IN IN
any DT DT
Apple NNP NNP
video NN NN
card NN NN
and CC CC
Apple NNP NNP
monitor NN NN
. . .
<s>
The DT DT
rebates NNS NNS
, , ,
as IN IN
a DT DT
percentage NN NN
of IN IN
the DT DT
retail JJ JJ
cost NN NN
of IN IN
the DT DT
cpu NN NN
of IN IN
each DT DT
system NN NN
, , ,
amount NN NN
to TO TO
6 CD CD
% NN NN
to TO TO
13 CD CD
% NN NN
. . .
<s>
The DT DT
company NN NN
is VBZ VBZ
also RB RB
offering VBG VBG
a DT DT
free JJ JJ
trial NN NN
of IN IN
its PRP$ PRP$
computers NNS NNS
to TO TO
consumers NNS NNS
who WP WP
qualify VBP VBP
for IN IN
its PRP$ PRP$
credit NN NN
cards NNS NNS
or CC CC
leases NNS NNS
. . .
<s>
Matsushita NNP NNP
Electric NNP NNP
Industrial NNP NNP
Co. NNP NNP
of IN IN
Japan NNP NNP
and CC CC
Siemens NNP NNP
AG NNP NNP
of IN IN
West NNP NNP
Germany NNP NNP
announced VBD VBD
they PRP PRP
have VBP VBP
completed VBN VBN
a DT DT
100 CD CD
million-mark JJ JJ
( ( (
$ $ $
52.2 CD CD
million CD CD
) ) )
joint JJ JJ
venture NN NN
to TO TO
produce VB VB
electronics NNS NNS
parts NNS NNS
. . .
<s>
In IN IN
the DT DT
venture NN NN
's POS POS
first JJ JJ
fiscal JJ JJ
year NN NN
, , ,
Siemens NNP NNP
will MD MD
hold VB VB
74.9 CD CD
% NN NN
of IN IN
the DT DT
venture NN NN
and CC CC
a DT DT
Matsushita NNP NNP
subsidiary NN NN
, , ,
Matsushita NNP NNP
Electronic NNP NNP
Components NNP NNPS
Co. NNP NNP
, , ,
25.1 CD CD
% NN NN
. . .
<s>
A DT DT
basic JJ JJ
agreement NN NN
between IN IN
the DT DT
two CD CD
companies NNS NNS
was VBD VBD
announced VBN VBN
in IN IN
June NNP NNP
. . .
<s>
The DT DT
new JJ JJ
company NN NN
is VBZ VBZ
to TO TO
be VB VB
called VBN VBN
Siemens NNP NNP
Matsushita NNP NNP
Components NNP NNPS
G.m.b NNP NNP
. . .
<s>
H NNP NN
. . .
<s>
It PRP PRP
will MD MD
have VB VB
its PRP$ PRP$
headquarters NN NNS
in IN IN
Munich NNP NNP
. . .
<s>
Matsushita NNP NNP
's POS POS
share NN NN
in IN IN
the DT DT
venture NN NN
will MD MD
rise VB VB
to TO TO
35 CD CD
% NN NN
Oct. NNP NNP
1 CD CD
, , ,
1990 CD CD
, , ,
and CC CC
to TO TO
50 CD CD
% NN NN
the DT DT
following JJ VBG
Oct. NNP NNP
1 CD CD
. . .
<s>
Siemens NNP NNP
will MD MD
retain VB VB
majority NN NN
voting NN VBG
rights NNS NNS
. . .
<s>
The DT DT
parent NN NN
companies NNS NNS
forecast VBP VBP
sales NNS NNS
for IN IN
the DT DT
venture NN NN
of IN IN
around IN IN
750 CD CD
million CD CD
marks NNS NNS
for IN IN
its PRP$ PRP$
first JJ JJ
fiscal JJ JJ
year NN NN
, , ,
Matsushita NNP NNP
said VBD VBD
. . .
<s>
Sales NNS NNS
are VBP VBP
expected VBN VBN
to TO TO
rise VB VB
to TO TO
one CD CD
billion CD CD
marks NNS NNS
after IN IN
four CD CD
years NNS NNS
. . .
<s>
The DT DT
company NN NN
will MD MD
have VB VB
production NN NN
facilities NNS NNS
in IN IN
West NNP NNP
Germany NNP NNP
, , ,
Austria NNP NNP
, , ,
France NNP NNP
and CC CC
Spain NNP NNP
. . .
<s>
Roger NNP NNP
Rosenblatt NNP NNP
, , ,
editor NN NN
of IN IN
U.S. NNP NNP
News NNP NNP
& CC CC
World NNP NNP
Report NNP NNP
, , ,
resigned VBD VBD
Friday NNP NNP
from IN IN
the DT DT
weekly JJ JJ
news NN NN
magazine NN NN
. . .
<s>
Mr. NNP NNP
Rosenblatt NNP NNP
said VBD VBD
he PRP PRP
resigned VBD VBD
because IN IN
of IN IN
difficulties NNS NNS
with IN IN
commuting VBG VBG
between IN IN
his PRP$ PRP$
home NN NN
in IN IN
New NNP NNP
York NNP NNP
and CC CC
the DT DT
magazine NN NN
's POS POS
editorial NN NN
offices NNS NNS
in IN IN
Washington NNP NNP
. . .
<s>
`` `` ``
Frankly RB NNP
, , ,
I PRP PRP
missed VBD VBD
my PRP$ PRP$
family NN NN
, , ,
'' '' ''
said VBD VBD
Mr. NNP NNP
Rosenblatt NNP NNP
. . .
<s>
In IN IN
Mr. NNP NNP
Rosenblatt NNP NNP
's POS POS
tenure NN NN
, , ,
the DT DT
magazine NN NN
's POS POS
advertising NN NN
pages NNS NNS
and CC CC
circulation NN NN
have VBP VBP
grown VBN VBN
significantly RB RB
. . .
<s>
But CC CC
at IN IN
2.3 CD CD
million CD CD
weekly JJ RB
paid VBN VBN
circulation NN NN
, , ,
U.S. NNP NNP
News NNP NNP
still RB RB
ranks VBZ VBZ
third JJ JJ
behind IN IN
Time NNP NNP
Warner NNP NNP
Inc. NNP NNP
's POS POS
Time NNP NNP
magazine NN NN
, , ,
with IN IN
4.4 CD CD
million CD CD
circulation NN NN
, , ,
and CC CC
Washington NNP NNP
Post NNP NNP
Co. NNP NNP
's POS POS
Newsweek NNP NNP
, , ,
with IN IN
3.3 CD CD
million CD CD
circulation NN NN
. . .
<s>
Mortimer NNP NNP
B. NNP NNP
Zuckerman NNP NNP
, , ,
chairman NN NN
and CC CC
editor NN NN
in IN IN
chief NN NN
, , ,
said VBD VBD
Mr. NNP NNP
Rosenblatt NNP NNP
would MD MD
be VB VB
succeeded VBN VBN
starting VBG VBG
today NN NN
by IN IN
Michael NNP NNP
Ruby NNP NNP
, , ,
the DT DT
magazine NN NN
's POS POS
executive NN NN
editor NN NN
, , ,
and CC CC
Merrill NNP NNP
McLoughlin NNP NNP
, , ,
a DT DT
senior JJ JJ
writer NN NN
. . .
<s>
Mr. NNP NNP
Ruby NNP NNP
and CC CC
Ms. NNP NNP
McLoughlin NNP NNP
are VBP VBP
married VBN VBN
to TO TO
each DT DT
other JJ JJ
. . .
<s>
Mr. NNP NNP
Zuckerman NNP NNP
said VBD VBD
his PRP$ PRP$
magazine NN NN
would MD MD
maintain VB VB
its PRP$ PRP$
editorial NN NN
format NN NN
, , ,
which WDT WDT
is VBZ VBZ
a DT DT
mix NN NN
of IN IN
analysis NN NN
and CC CC
trend NN NN
stories NNS NNS
with IN IN
service-oriented JJ JJ
, , ,
how-to JJ JJ
articles NNS NNS
. . .
<s>
Mr. NNP NNP
Rosenblatt NNP NNP
, , ,
a DT DT
senior JJ JJ
writer NN NN
at IN IN
Time NNP NNP
magazine NN NN
before IN IN
joining VBG VBG
U.S. NNP NNP
News NNP NNP
& CC CC
World NNP NNP
Report NNP NNP
, , ,
said VBD VBD
he PRP PRP
had VBD VBD
numerous JJ JJ
job NN NN
offers NNS NNS
from IN IN
other JJ JJ
magazines NNS NNS
while IN IN
he PRP PRP
was VBD VBD
editor NN NN
. . .
<s>
The DT DT
offers NNS NNS
were VBD VBD
to TO TO
work VB VB
as IN IN
a DT DT
writer NN NN
, , ,
not RB RB
an DT DT
editor NN NN
. . .
<s>
He PRP PRP
said VBD VBD
he PRP PRP
will MD MD
now RB RB
consider VB VB
those DT DT
offers NNS NNS
. . .
<s>
Avions NNP NNP
Marcel NNP NNP
Dassault-Breguet NNP NNP
Aviation NNP NNP
S.A. NNP NNP
said VBD VBD
group NN NN
profit NN NN
before IN IN
taxes NNS NNS
and CC CC
contributions NNS NNS
to TO TO
employee NN NN
profit-sharing NN NNS
soared VBD VBD
97 CD CD
% NN NN
to TO TO
839 CD CD
million CD CD
francs NNS NNS
( ( (
$ $ $
129.6 CD CD
million CD CD
) ) )
in IN IN
the DT DT
first JJ JJ
half NN DT
of IN IN
1989 CD CD
from IN IN
425 CD CD
million CD CD
francs NNS NNS
a DT DT
year NN NN
earlier RBR RBR
. . .
<s>
The DT DT
French JJ NNP
aircraft NN NN
group NN NN
pointed VBD VBD
out RP RP
, , ,
however RB RB
, , ,
that IN IN
financial JJ JJ
results NNS NNS
from IN IN
its PRP$ PRP$
sector NN NN
of IN IN
industry NN NN
are VBP VBP
frequently RB RB
erratic JJ JJ
because IN IN
of IN IN
irregular JJ JJ
cash NN NN
flow NN NN
from IN IN
large JJ JJ
contracts NNS NNS
. . .
<s>
It PRP PRP
noted VBD VBD
, , ,
for IN IN
example NN NN
, , ,
that DT IN
group NN NN
revenue NN NN
for IN IN
the DT DT
first JJ JJ
half NN DT
was VBD VBD
8.734 CD CD
billion CD CD
francs NNS NNS
, , ,
down RB RB
about IN IN
12 CD CD
% NN NN
from IN IN
9.934 CD CD
billion CD CD
francs NNS NNS
a DT DT
year NN NN
earlier RBR RBR
. . .
<s>
Still RB RB
, , ,
it PRP PRP
said VBD VBD
it PRP PRP
expects VBZ VBZ
sales NNS NNS
for IN IN
all DT DT
of IN IN
1989 CD CD
to TO TO
be VB VB
on IN IN
the DT DT
order NN NN
of IN IN
20 CD CD
billion CD CD
francs NNS NNS
, , ,
reflecting VBG VBG
anticipated JJ VBN
billings NNS NNS
for IN IN
two CD CD
large JJ JJ
contracts NNS NNS
in IN IN
the DT DT
second JJ JJ
half NN DT
of IN IN
the DT DT
year NN NN
. . .
<s>
For IN IN
all DT DT
of IN IN
1988 CD CD
, , ,
Dassault NNP NNP
had VBD VBD
group NN NN
profit NN NN
of IN IN
428 CD CD
million CD CD
francs NNS NNS
on IN IN
revenue NN NN
of IN IN
18.819 CD CD
billion CD CD
francs NNS NNS
. . .
<s>
The DT DT
group NN NN
has VBZ VBZ
n't RB RB
yet RB RB
released VBN VBN
earnings NNS NNS
figures NNS NNS
for IN IN
the DT DT
first JJ JJ
half NN DT
of IN IN
1989 CD CD
, , ,
nor CC CC
has VBZ VBZ
it PRP PRP
made VBD VBN
a DT DT
detailed JJ VBN
forecast NN NN
of IN IN
its PRP$ PRP$
full-year JJ JJ
earnings NNS NNS
. . .
<s>
Keystone NNP NNP
Consolidated NNP NNP
Industries NNPS NNPS
Inc. NNP NNP
expects VBZ VBZ
to TO TO
report VB VB
earnings NNS NNS
before IN IN
extraordinary JJ JJ
tax NN NN
benefits NNS NNS
of IN IN
about IN IN
$ $ $
1.5 CD CD
million CD CD
, , ,
or CC CC
about IN IN
41 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
for IN IN
the DT DT
third JJ JJ
quarter NN NN
, , ,
compared VBN VBN
with IN IN
a DT DT
loss NN NN
last JJ JJ
year NN NN
, , ,
said VBD VBD
Glenn NNP NNP
R. NNP NNP
Simmons NNP NNP
, , ,
chairman NN NN
and CC CC
chief JJ NN
executive NN NN
officer NN NN
. . .
<s>
After IN IN
a DT DT
tax NN NN
benefit NN NN
of IN IN
about IN IN
$ $ $
780,000 CD CD
, , ,
Keystone NNP NNP
expects VBZ VBZ
to TO TO
report VB VB
net JJ JJ
income NN NN
of IN IN
$ $ $
2.3 CD CD
million CD CD
, , ,
or CC CC
about IN IN
62 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
Mr. NNP NNP
Simmons NNP NNP
said VBD VBD
. . .
<s>
For IN IN
third JJ JJ
quarter NN NN
last JJ JJ
year NN NN
, , ,
Keystone NNP NNP
reported VBD VBD
a DT DT
$ $ $
1 CD CD
million CD CD
loss NN NN
from IN IN
continuing VBG VBG
operations NNS NNS
and CC CC
a DT DT
$ $ $
200,000 CD CD
loss NN NN
from IN IN
discontinued VBN VBN
operations NNS NNS
, , ,
for IN IN
a DT DT
net JJ JJ
loss NN NN
of IN IN
$ $ $
1.2 CD CD
million CD CD
. . .
<s>
Revenue NN NN
for IN IN
the DT DT
latest JJS JJS
third JJ JJ
quarter NN NN
was VBD VBD
about IN IN
$ $ $
70.5 CD CD
million CD CD
, , ,
up IN RB
10 CD CD
% NN NN
from IN IN
$ $ $
63.6 CD CD
million CD CD
last JJ JJ
year NN NN
, , ,
he PRP PRP
said VBD VBD
. . .
<s>
Mr. NNP NNP
Simmons NNP NNP
said VBD VBD
the DT DT
results NNS NNS
signal VBP VBP
a DT DT
turnaround NN NN
for IN IN
the DT DT
maker NN NN
of IN IN
wire NN NN
and CC CC
wire NN NN
products NNS NNS
, , ,
which WDT WDT
has VBZ VBZ
struggled VBN VBN
to TO TO
remain VB VB
competitive JJ JJ
in IN IN
the DT DT
face NN NN
of IN IN
lower-priced JJ JJ
, , ,
imported VBN VBN
steel NN NN
. . .
<s>
A DT DT
new JJ JJ
$ $ $
46 CD CD
million CD CD
steel NN NN
rod NN NN
minimill NN NN
, , ,
which WDT WDT
got VBD VBD
off RP RP
to TO TO
a DT DT
rocky JJ JJ
start NN NN
in IN IN
early JJ JJ
1988 CD CD
, , ,
now RB RB
is VBZ VBZ
running VBG VBG
efficiently RB RB
and CC CC
a DT DT
new JJ JJ
management NN NN
team NN NN
is VBZ VBZ
more RBR RBR
heavily RB RB
marketing VBG VBG
Keystone NNP NN
's POS POS
products NNS NNS
, , ,
Mr. NNP NNP
Simmons NNP NNP
said VBD VBD
. . .
<s>
As IN IN
a DT DT
result NN NN
, , ,
the DT DT
company NN NN
hopes VBZ VBZ
to TO TO
report VB VB
net JJ JJ
income NN NN
for IN IN
the DT DT
year NN NN
of IN IN
about IN IN
$ $ $
11.6 CD CD
million CD CD
, , ,
or CC CC
about RB IN
$ $ $
3.10 CD CD
to TO TO
$ $ $
3.15 CD CD
a DT DT
share NN NN
, , ,
compared VBN VBN
with IN IN
a DT DT
net JJ JJ
loss NN NN
of IN IN
$ $ $
24.4 CD CD
million CD CD
last JJ JJ
year NN NN
, , ,
after IN IN
a DT DT
loss NN NN
from IN IN
discontinued VBN VBN
operations NNS NNS
of IN IN
$ $ $
18.4 CD CD
million CD CD
. . .
<s>
Revenue NN NN
for IN IN
1989 CD CD
is VBZ VBZ
expected VBN VBN
to TO TO
be VB VB
about IN IN
$ $ $
300 CD CD
million CD CD
, , ,
up RB IN
about IN IN
21 CD CD
% NN NN
from IN IN
$ $ $
247.3 CD CD
million CD CD
in IN IN
1988 CD CD
. . .
<s>
For IN IN
the DT DT
nine CD CD
months NNS NNS
ended VBN VBD
Sept. NNP NNP
30 CD CD
, , ,
Keystone NNP NNP
expects VBZ VBZ
to TO TO
report VB VB
net JJ JJ
income NN NN
of IN IN
$ $ $
9.3 CD CD
milion NN NN
, , ,
or CC CC
about RB IN
$ $ $
2.53 CD CD
a DT DT
share NN NN
, , ,
after IN IN
an DT DT
extraordinary JJ JJ
gain NN NN
from IN IN
$ $ $
3.2 CD CD
million CD CD
in IN IN
tax NN NN
benefits NNS NNS
. . .
<s>
Last JJ JJ
year NN NN
, , ,
the DT DT
company NN NN
had VBD VBD
a DT DT
net JJ JJ
loss NN NN
of IN IN
$ $ $
6.5 CD CD
million CD CD
, , ,
including VBG VBG
a DT DT
$ $ $
6.1 CD CD
million CD CD
loss NN NN
from IN IN
continuing VBG VBG
operations NNS NNS
and CC CC
a DT DT
$ $ $
400,000 CD CD
loss NN NN
from IN IN
discontinued VBN VBN
operations NNS NNS
. . .
<s>
Revenue NN NN
for IN IN
the DT DT
nine CD CD
months NNS NNS
is VBZ VBZ
expected VBN VBN
to TO TO
be VB VB
about IN IN
$ $ $
230.5 CD CD
million CD CD
, , ,
up RB IN
about IN IN
21 CD CD
% NN NN
from IN IN
$ $ $
190.4 CD CD
million CD CD
last JJ JJ
year NN NN
. . .
<s>
Mr. NNP NNP
Simmons NNP NNP
said VBD VBD
Keystone NNP NNP
's POS POS
new JJ JJ
mill NN NN
is VBZ VBZ
expected VBN VBN
to TO TO
produce VB VB
about IN IN
585,000 CD CD
tons NNS NNS
of IN IN
steel NN NN
rods NNS NNS
this DT DT
year NN NN
, , ,
up RB IN
from IN IN
413,000 CD CD
tons NNS NNS
in IN IN
1988 CD CD
. . .
<s>
Production NN NN
at IN IN
the DT DT
mill NN NN
has VBZ VBZ
exceeded VBN VBN
the DT DT
ability NN NN
of IN IN
Keystone NNP NNP
's POS POS
casting NN NN
operation NN NN
to TO TO
supply VB VB
it PRP PRP
, , ,
he PRP PRP
said VBD VBD
, , ,
which WDT WDT
will MD MD
force VB VB
Keystone NNP NNP
to TO TO
purchase VB VB
billet NN NN
, , ,
or CC CC
unfinished JJ JJ
steel NN NN
bars NNS NNS
, , ,
from IN IN
outside IN IN
the DT DT
company NN NN
during IN IN
the DT DT
fourth JJ JJ
quarter NN NN
and CC CC
next JJ JJ
year NN NN
. . .
<s>
Keystone : NNP
will MD MD
have VB VB
to TO TO
consider VB VB
expanding VBG VBG
its PRP$ PRP$
casting NN NN
operation NN NN
, , ,
at IN IN
an DT DT
estimated VBN VBN
cost NN NN
of IN IN
$ $ $
8 CD CD
million CD CD
to TO TO
$ $ $
10 CD CD
million CD CD
, , ,
within IN IN
the DT DT
next JJ JJ
18 CD CD
to TO TO
24 CD CD
months NNS NNS
, , ,
Mr. NNP NNP
Simmons NNP NNP
said VBD VBD
. . .
<s>
Under IN IN
Robert NNP NNP
W. NNP NNP
Singer NNP NNP
, , ,
who WP WP
was VBD VBD
named VBN VBN
president NN NN
and CC CC
chief NN NN
operating VBG VBG
officer NN NN
last JJ JJ
year NN NN
, , ,
Keystone NNP NNP
has VBZ VBZ
expanded VBN VBN
its PRP$ PRP$
sales NNS NNS
force NN NN
to TO TO
about IN IN
20 CD CD
people NNS NNS
from IN IN
about IN IN
15 CD CD
and CC CC
hopes VBZ VBZ
to TO TO
expand VB VB
its PRP$ PRP$
sales NNS NNS
from IN IN
the DT DT
middle JJ JJ
portion NN NN
of IN IN
the DT DT
country NN NN
toward IN IN
the DT DT
East NNP NNP
and CC CC
West NNP NNP
coasts NNS NNS
. . .
<s>
`` `` ``
Prior RB RB
to TO TO
a DT DT
year NN NN
ago RB IN
, , ,
Keystone NNP NNP
was VBD VBD
an DT DT
order-taker NN NN
. . .
<s>
Now RB RB
I PRP PRP
think VBP VBP
we PRP PRP
have VBP VBP
a DT DT
group NN NN
of IN IN
marketing NN VBG
people NNS NNS
who WP WP
are VBP VBP
out RP IN
selling VBG VBG
to TO TO
retailers NNS NNS
and CC CC
wholesalers NNS NNS
, , ,
'' '' ''
Mr. NNP NNP
Simmons NNP NNP
said VBD VBD
. . .
<s>
Still RB RB
, , ,
he PRP PRP
said VBD VBD
, , ,
the DT DT
100-year-old JJ JJ
company NN NN
plans VBZ VBZ
to TO TO
continue VB VB
its PRP$ PRP$
premium-priced JJ JJ
strategy NN NN
for IN IN
its PRP$ PRP$
distinctive JJ JJ
brand NN NN
of IN IN
red-tipped JJ JJ
wire NN NN
fencing NN NN
and CC CC
other JJ JJ
products NNS NNS
. . .
<s>
The DT DT
company NN NN
claims VBZ VBZ
a DT DT
40 CD CD
% NN NN
share NN NN
of IN IN
the DT DT
U.S. NNP NNP
field NN NN
fence NN NN
business NN NN
, , ,
a DT DT
35 CD CD
% NN NN
share NN NN
of IN IN
poultry NN NN
netting VBG VBG
sales NNS NNS
and CC CC
a DT DT
30 CD CD
% NN NN
share NN NN
of IN IN
barbed : VBN
wire NN NN
sales NNS NNS
. . .
<s>
Freeport-McMoRan NNP NNP
Inc. NNP NNP
said VBD VBD
a DT DT
temporary JJ JJ
cessation NN NN
of IN IN
operations NNS NNS
at IN IN
its PRP$ PRP$
Sunshine NNP NNP
Bridge NNP NNP
uranium-recovery NN JJ
facility NN NN
in IN IN
Donaldsonville NNP NNP
, , ,
La. NNP NNP
, , ,
will MD MD
result VB VB
in IN IN
slight JJ JJ
earnings NNS NNS
improvement NN NN
to TO TO
both DT PDT
the DT DT
company NN NN
and CC CC
its PRP$ PRP$
Freeport-McMoRan NNP NNP
Resource NNP NNP
Partners NNP NNPS
Limited NNP NNP
Partnership NNP NNP
unit NN NN
. . .
<s>
The DT DT
company NN NN
did VBD VBD
n't RB RB
elaborate VB JJ
. . .
<s>
The DT DT
diversified JJ JJ
energy NN NN
and CC CC
minerals NNS NNS
concern NN NN
said VBD VBD
that IN IN
a DT DT
depressed JJ VBN
uranium NN NN
market NN NN
is VBZ VBZ
responsible JJ JJ
for IN IN
the DT DT
temporary JJ JJ
mothballing NN NN
of IN IN
the DT DT
plant NN NN
, , ,
but CC CC
that IN IN
the DT DT
plant NN NN
can MD MD
be VB VB
reactivated VBN VBN
quickly RB RB
when WRB WRB
the DT DT
market NN NN
improves VBZ VBZ
. . .
<s>
More JJR JJR
than IN IN
400,000 CD CD
pounds NNS NNS
of IN IN
uranium NN NN
a DT DT
year NN NN
have VBP VBP
been VBN VBN
produced VBN VBN
at IN IN
the DT DT
facility NN NN
during IN IN
the DT DT
past JJ JJ
seven CD CD
years NNS NNS
. . .
<s>
A DT DT
second JJ JJ
uranium-recovery NN JJ
plant NN NN
at IN IN
Uncle NNP NNP
Sam NNP NNP
, , ,
La. NNP NNP
, , ,
that WDT WDT
produces VBZ VBZ
more JJR JJR
than IN IN
700,000 CD CD
pounds NNS NNS
of IN IN
uranium NN NN
annually RB RB
, , ,
will MD MD
continue VB VB
to TO TO
operate VB VB
. . .
<s>
Freeport-McMoRan NNP NNP
said VBD VBD
the DT DT
shutdown NN NN
wo MD MD
n't RB RB
affect VB VB
sales NNS JJ
volumes NNS NNS
under IN IN
long-term JJ JJ
sales NNS NNS
contracts NNS NNS
of IN IN
its PRP$ PRP$
Freeport NNP NNP
Uranium NNP NNP
Recovery NNP NNP
Co. NNP NNP
unit NN NN
, , ,
but CC CC
will MD MD
reduce VB VB
the DT DT
amount NN NN
of IN IN
product NN NN
sold VBN VBN
on IN IN
the DT DT
spot NN NN
market NN NN
. . .
<s>
Freeport-McMoRan NNP NNP
Resource NNP NNP
Partners NNPS NNPS
, , ,
as IN IN
owner NN NN
of IN IN
the DT DT
uranium-recovery JJ JJ
technology NN NN
, , ,
receives VBZ VBZ
royalty NN NN
payments NNS NNS
. . .
<s>
Business NN NNP
Week NN NNP
subscribers NNS NNS
may MD MD
hear VB VB
this DT DT
week NN NN
's POS POS
issue NN NN
talking VBG VBG
back RB RB
to TO TO
them PRP PRP
. . .
<s>
A DT DT
four-page JJ JJ
ad NN NN
from IN IN
Texas NNP NNP
Instruments NNP NNPS
Inc. NNP NNP
, , ,
running VBG VBG
in IN IN
approximately RB RB
140,000 CD CD
issues NNS NNS
of IN IN
the DT DT
Oct. NNP NNP
20 CD CD
`` `` ``
Corporate JJ NNP
Elite NN NNP
'' '' ''
issue NN NN
of IN IN
the DT DT
McGraw-Hill NNP NNP
Inc. NNP NNP
publication NN NN
, , ,
contains VBZ VBZ
a DT DT
speech NN NN
synthesizer NN NN
laminated VBD VBN
between IN IN
two CD CD
of IN IN
the DT DT
pages NNS NNS
. . .
<s>
Readers NNS NNS
who WP WP
pull VBP VBP
off RP RP
a DT DT
piece NN NN
of IN IN
tape NN NN
and CC CC
press VB VB
a DT DT
switch NN NN
will MD MD
hear VB VB
a DT DT
tiny JJ JJ
-- : :
but CC CC
distinctly RB RB
human-sounding JJ JJ
-- : :
voice NN NN
announce VBP VB
, , ,
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I PRP PRP
am VBP VBP
the DT DT
talking VBG VBG
chip NN NN
, , ,
'' '' ''
as IN IN
it PRP PRP
launches VBZ VBZ
into IN IN
a DT DT
15-second JJ JJ
discourse NN NN
on IN IN
its PRP$ PRP$
own JJ JJ
attributes NNS NNS
. . .
<s>
The DT DT
talking VBG VBG
chip NN NN
is VBZ VBZ
n't RB RB
cheap JJ JJ
-- : :
the DT DT
per-ad JJ JJ
cost NN NN
to TO TO
Texas NNP NNP
Instruments NNP NNPS
is VBZ VBZ
about IN IN
$ $ $
4 CD CD
, , ,
and CC CC
that DT DT
's VBZ VBZ
without IN IN
adding VBG VBG
in IN RP
Business NNP NNP
Week NNP NNP
's POS POS
charge NN NN
-- : :
but CC CC
Texas NNP NNP
Instruments NNPS NNPS
believes VBZ VBZ
it PRP PRP
is VBZ VBZ
a DT DT
first JJ JJ
. . .
<s>
Previous JJ JJ
efforts NNS NNS
have VBP VBP
included VBN VBN
musical JJ JJ
ads NNS NNS
, , ,
featuring VBG VBG
simple JJ JJ
tone-generating JJ JJ
chips NNS NNS
that WDT WDT
play VBP VBP
a DT DT
tune NN NN
, , ,
but CC CC
the DT DT
voice NN NN
synthesizer NN NN
in IN IN
this DT DT
effort NN NN
is VBZ VBZ
much RB RB
more RBR RBR
sophisticated JJ JJ
, , ,
with IN IN
none NN NN
of IN IN
the DT DT
robotic JJ JJ
flatness NN NN
that IN IN
one CD NN
hears VBZ VBZ
, , ,
for IN IN
example NN NN
, , ,
when WRB WRB
calling VBG VBG
telephone NN NN
directory NN NN
services NNS NNS
. . .
<s>
And CC CC
for IN IN
those DT DT
who WP WP
miss VBP VBP
the DT DT
message NN NN
the DT DT
first JJ JJ
time NN NN
around RB IN
, , ,
not RB RB
to TO TO
worry VB VB
: : :
Three CD CD
tiny JJ JJ
batteries NNS NNS
provide VBP VBP
enough JJ JJ
juice NN NN
for IN IN
as RB RB
many JJ JJ
as IN IN
650 CD CD
replays NNS NNS
. . .
<s>
Lomas NNP NNP
Financial NNP NNP
Corp. NNP NNP
, , ,
Dallas NNP NNP
, , ,
said VBD VBD
it PRP PRP
will MD MD
ask VB VB
a DT DT
U.S. NNP NNP
bankruptcy NN NN
court NN NN
to TO TO
allow VB VB
it PRP PRP
to TO TO
hire VB VB
Lazard NNP NNP
Freres NNP NNP
& CC CC
Co. NNP NNP
to TO TO
help VB VB
it PRP PRP
sell VB VB
its PRP$ PRP$
leasing NN NN
unit NN NN
. . .
<s>
Lomas NNP NNP
, , ,
assisted VBN VBN
by IN IN
Merrill NNP NNP
Lynch NNP NNP
Capital NNP NNP
Markets NNP NNPS
, , ,
has VBZ VBZ
been VBN VBN
trying VBG VBG
to TO TO
sell VB VB
its PRP$ PRP$
Equitable NNP NNP
Lomas NNP NNP
Leasing NNP NNP
Co. NNP NNP
for IN IN
several JJ JJ
months NNS NNS
, , ,
apparently RB RB
without IN IN
success NN NN
. . .
<s>
The DT DT
real JJ JJ
estate NN NN
and CC CC
mortgage NN NN
banking NN NN
concern NN NN
had VBD VBD
hoped VBN VBN
to TO TO
use VB VB
proceeds NNS NNS
from IN IN
the DT DT
sale NN NN
to TO TO
reduce VB VB
its PRP$ PRP$
debt NN NN
. . .
<s>
Without IN IN
cash NN NN
from IN IN
asset NN NN
sales NNS NNS
and CC CC
unable JJ JJ
to TO TO
reach VB VB
a DT DT
new JJ JJ
bank-credit NN NN
agreement NN NN
, , ,
Lomas NNP NNP
defaulted VBD VBD
on IN IN
$ $ $
145 CD CD
million CD CD
in IN IN
notes NNS NNS
that WDT WDT
became VBD VBD
due JJ JJ
Sept. NNP NNP
1 CD CD
. . .
<s>
It PRP PRP
filed VBD VBD
for IN IN
protection NN NN
from IN IN
creditors NNS NNS
under IN IN
Chapter NN NN
11 CD CD
of IN IN
the DT DT
federal JJ JJ
Bankruptcy NNP NNP
Code NNP NNP
Sept. NNP NNP
24 CD CD
to TO TO
give VB VB
it PRP PRP
additional JJ JJ
time NN NN
to TO TO
work VB VB
on IN IN
a DT DT
plan NN NN
to TO TO
restructure VB VB
its PRP$ PRP$
$ $ $
1.45 CD CD
billion CD CD
in IN IN
senior JJ JJ
debt NN NN
. . .
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Lomas NNP NNP
said VBD VBD
Merrill NNP NNP
Lynch NNP NNP
, , ,
which WDT WDT
owns VBZ VBZ
bonds NNS NNS
and CC CC
equity NN NN
in IN IN
Lomas NNP NNP
, , ,
could MD MD
n't RB RB
continue VB VB
as IN IN
Lomas NNP NNP
's POS POS
investment NN NN
banker NN NN
because IN IN
it PRP PRP
is VBZ VBZ
also RB RB
a DT DT
creditor NN NN
. . .
<s>
It PRP PRP
said VBD VBD
it PRP PRP
chose VBD VBD
Lazard NNP NNP
in IN IN
part NN NN
because IN IN
of IN IN
Lazard NNP NNP
's POS POS
offices NNS NNS
in IN IN
Europe NNP NNP
and CC CC
Japan NNP NNP
, , ,
where WRB WRB
investors NNS NNS
might MD MD
be VB VB
interested JJ JJ
in IN IN
a DT DT
U.S. NNP NNP
leasing NN NN
company NN NN
. . .
<s>
Canadian NNP NNP
Imperial NNP NNP
Bank NNP NNP
of IN IN
Commerce NNP NNP
said VBD VBD
it PRP PRP
will MD MD
increase VB VB
its PRP$ PRP$
loan-loss JJ NN
provisions NNS NNS
to TO TO
cover VB VB
all DT PDT
its PRP$ PRP$
loans NNS NNS
to TO TO
lesser JJR JJR
developed JJ VBN
countries NNS NNS
, , ,
except IN IN
Mexico NNP NNP
, , ,
resulting VBG VBG
in IN IN
an DT DT
after-tax JJ JJ
charge NN NN
to TO TO
1989 CD CD
earnings NNS NNS
of IN IN
300 CD CD
million CD CD
Canadian JJ JJ
dollars NNS NNS
( ( (
US$ $ $
255 CD CD
million CD CD
) ) )
. . .
<s>
Don NNP NNP
Bowder NNP NNP
, , ,
senior JJ JJ
vice NN NN
president NN NN
and CC CC
chief JJ NN
accountant NN NN
, , ,
said VBD VBD
the DT DT
bank NN NN
's POS POS
strong JJ JJ
earnings NNS NNS
enable VBP VBP
it PRP PRP
to TO TO
be VB VB
the DT DT
first JJ JJ
major JJ JJ
Canadian JJ JJ
bank NN NN
to TO TO
set VB VB
aside RP RB
provisions NNS NNS
covering VBG VBG
all DT PDT
its PRP$ PRP$
C$ $ $
1.17 CD CD
billion CD CD
in IN IN
non-Mexican JJ JJ
LDC NNP NNP
debt NN NN
. . .
<s>
`` `` ``
It PRP PRP
eliminates VBZ VBZ
the DT DT
continuing VBG VBG
uncertainty NN NN
with IN IN
respect NN NN
to TO TO
the DT DT
ultimate JJ JJ
value NN NN
of IN IN
the DT DT
loans NNS NNS
, , ,
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
The DT DT
bank NN NN
said VBD VBD
about IN IN
C$ $ $
525 CD CD
million CD CD
will MD MD
be VB VB
added VBN VBN
to TO TO
its PRP$ PRP$
existing VBG VBG
LDC NNP NNP
and CC CC
general JJ JJ
loss NN NN
provisions NNS NNS
in IN IN
its PRP$ PRP$
fourth JJ JJ
quarter NN NN
, , ,
ending VBG VBG
Oct. NNP NNP
31 CD CD
. . .
<s>
Mr. NNP NNP
Bowder NNP NNP
said VBD VBD
the DT DT
C$ $ $
300 CD CD
million CD CD
charge NN NN
to TO TO
earnings NNS NNS
would MD MD
amount VB VB
to TO TO
about IN IN
C$ $ $
1.34 CD CD
a DT DT
share NN NN
. . .
<s>
The DT DT
bank NN NN
's POS POS
net JJ JJ
income NN NN
for IN IN
the DT DT
nine CD CD
months NNS NNS
ended VBN VBD
July NNP NNP
31 CD CD
was VBD VBD
C$ $ $
577 CD CD
million CD CD
, , ,
or CC CC
C$ $ $
3.10 CD CD
a DT DT
share NN NN
. . .
<s>
Mr. NNP NNP
Bowder NNP NNP
said VBD VBD
the DT DT
bank NN NN
will MD MD
restructure VB VB
its PRP$ PRP$
C$ $ $
604 CD CD
million CD CD
of IN IN
Mexican JJ JJ
debt NN NN
, , ,
of IN IN
which WDT WDT
C$ $ $
255 CD CD
million CD CD
is VBZ VBZ
in IN IN
Mexican JJ JJ
notes NNS NNS
secured VBN VBN
by IN IN
U.S. NNP NNP
government NN NN
bonds NNS NNS
. . .
<s>
The DT DT
bank NN NN
has VBZ VBZ
a DT DT
45 CD CD
% NN NN
reserve NN NN
against IN IN
the DT DT
remaining VBG VBG
C$ $ $
349 CD CD
million CD CD
of IN IN
Mexican JJ JJ
debt NN NN
and CC CC
expects VBZ VBZ
to TO TO
swap VB VB
that IN IN
for IN IN
other JJ JJ
Mexican JJ JJ
notes NNS NNS
supported VBN VBN
by IN IN
U.S. NNP NNP
Treasury NNP NNP
zero-coupon JJ NN
bonds NNS NNS
. . .
<s>
Mr. NNP NNP
Bowder NNP NNP
said VBD VBD
the DT DT
bank NN NN
's POS POS
experience NN NN
with IN IN
LDC NNP NNP
debt NN NN
has VBZ VBZ
been VBN VBN
`` `` ``
painful JJ JJ
'' '' ''
and CC CC
this DT DT
latest JJS JJS
move NN NN
represents VBZ VBZ
the DT DT
final JJ JJ
phase NN NN
of IN IN
a DT DT
program NN NN
begun VBN VBN
seven CD CD
years NNS NNS
ago RB IN
to TO TO
reduce VB VB
its PRP$ PRP$
exposure NN NN
through IN IN
provisioning VBG VBG
, , ,
debt NN NN
sales NNS NNS
and CC CC
debt NN NN
swaps NNS NNS
. . .
<s>
He PRP PRP
said VBD VBD
the DT DT
bank NN NN
will MD MD
no RB RB
longer RB RB
participate VB VB
in IN IN
LDC NNP NNP
sovereign JJ JJ
lending NN NN
, , ,
but CC CC
will MD MD
support VB VB
trade NN NN
financing NN NN
and CC CC
other JJ JJ
transactions NNS NNS
that WDT WDT
meet VBP VBP
the DT DT
bank NN NN
's POS POS
standards NNS NNS
. . .
<s>
The DT DT
carnage NN NN
among IN IN
takeover NN NN
stocks NNS NNS
Friday NNP NNP
does VBZ VBZ
n't RB RB
mean VB VB
the DT DT
end NN NN
of IN IN
mega-mergers NNS NNS
but CC CC
simply RB RB
marks VBZ VBZ
the DT DT
start NN NN
of IN IN
a DT DT
less RBR RBR
ambitious JJ JJ
game NN NN
, , ,
Wall NNP NNP
Street NNP NNP
's POS POS
big-time JJ JJ
deal NN NN
makers NNS NNS
say VBP VBP
. . .
<s>
Suitors NNS NNS
from IN IN
now RB RB
on IN IN
are VBP VBP
more RBR RBR
likely JJ JJ
to TO TO
be VB VB
expansion-minded JJ JJ
companies NNS NNS
, , ,
rather RB RB
than IN IN
raiders NNS NNS
or CC CC
debt-happy JJ JJ
financiers NNS NNS
. . .
<s>
And CC CC
they PRP PRP
will MD MD
be VB VB
launching VBG VBG
lower-priced JJ JJ
and CC CC
perhaps RB RB
fewer JJR JJR
deals NNS NNS
, , ,
now RB RB
that IN IN
it PRP PRP
's VBZ VBZ
tougher JJR JJR
to TO TO
finance VB VB
them PRP PRP
. . .
<s>
This DT DT
is VBZ VBZ
an DT DT
ominous JJ JJ
sign NN NN
for IN IN
a DT DT
stock NN NN
market NN NN
that WDT WDT
lately RB RB
has VBZ VBZ
been VBN VBN
fueled VBN VBN
by IN IN
takeover NN NN
speculation NN NN
and CC CC
bidding NN NN
wars NNS NNS
for IN IN
companies NNS NNS
that WDT WDT
put VBP VBP
themselves PRP PRP
up RP IN
for IN IN
sale NN NN
. . .
<s>
Whenever : WRB
the DT DT
1980s JJ CD
merger NN NN
boom NN NN
seems VBZ VBZ
to TO TO
be VB VB
stalling VBG VBG
, , ,
shock NN NN
waves NNS NNS
ripple JJ VBP
through IN IN
the DT DT
stock NN NN
market NN NN
. . .
<s>
`` `` ``
The DT DT
market NN NN
is VBZ VBZ
overvalued VBD VBN
, , ,
not RB RB
cheap JJ JJ
, , ,
'' '' ''
says VBZ VBZ
Alan NNP NNP
Gaines NNP NNP
of IN IN
the DT DT
New NNP NNP
York NNP NNP
money-management JJ NN
firm NN NN
Gaines NNP NNP
Berland NNP NNP
. . .
<s>
He PRP PRP
recently RB RB
began VBD VBD
increasing VBG VBG
his PRP$ PRP$
cash NN NN
position NN NN
to TO TO
45 CD CD
% NN NN
of IN IN
his PRP$ PRP$
portfolio NN NN
. . .
<s>
`` `` ``
I PRP PRP
look VBP VBP
at IN IN
where WRB WRB
deals NNS NNS
can MD MD
get VB VB
done VBN VBN
, , ,
'' '' ''
he PRP PRP
says VBZ VBZ
, , ,
`` `` ``
and CC CC
they PRP PRP
're VBP VBP
not RB RB
getting VBG VBG
done VBN VBN
'' '' ''
at IN IN
current JJ JJ
prices NNS NNS
. . .
<s>
Lenders NNP NNS
are VBP VBP
growing VBG VBG
increasingly RB RB
nervous JJ JJ
about IN IN
debt-financed JJ JJ
takeovers NNS NNS
, , ,
investment NN NN
bankers NNS NNS
say VBP VBP
. . .
<s>
`` `` ``
You PRP PRP
had VBD VBD
a DT DT
week NN NN
of IN IN
a DT DT
deteriorating VBG VBG
junk-bond NN NN
market NN NN
that WDT WDT
ran VBD VBD
smack VBP RB
into IN IN
the DT DT
news NN NN
on IN IN
Friday NNP NNP
about IN IN
what WP WP
appeared VBD VBD
to TO TO
be VB VB
happening VBG VBG
to TO TO
the DT DT
bank NN NN
debt NN NN
market NN NN
, , ,
'' '' ''
says VBZ VBZ
Steven NNP NNP
Rattner NNP NNP
, , ,
a DT DT
partner NN NN
and CC CC
merger NN NN
specialist NN NN
with IN IN
Lazard NNP NNP
Freres NNP NNP
& CC CC
Co NNP NNP
. . .
<s>
Trading NN NN
dried VBD VBD
up RP RP
Friday NNP NNP
in IN IN
the DT DT
market NN NN
for IN IN
high-yield JJ JJ
junk NN NN
bonds NNS NNS
, , ,
often RB RB
used VBN VBN
to TO TO
finance VB VB
takeovers NNS NNS
. . .
<s>
It PRP PRP
was VBD VBD
the DT DT
latest JJS JJS
in IN IN
a DT DT
series NN NN
of IN IN
setbacks NNS NNS
for IN IN
the DT DT
junk NN NN
bond NN NN
market NN NN
, , ,
where WRB WRB
prices NNS NNS
began VBD VBD
weakening VBG VBG
last JJ JJ
month NN NN
after IN IN
Campeau NNP NNP
hit VBD VBD
a DT DT
cash NN NN
crunch NN NN
. . .
<s>
And CC CC
banks NNS NNS
appear VBP VBP
to TO TO
be VB VB
taking VBG VBG
an DT DT
increasingly RB RB
skeptical JJ JJ
view NN NN
of IN IN
requests NNS NNS
for IN IN
high-risk JJ JJ
takeover NN NN
loans NNS NNS
. . .
<s>
The DT DT
group NN NN
trying VBG VBG
to TO TO
buy VB VB
UAL NNP NNP
announced VBD VBD
Friday NNP NNP
that IN IN
it PRP PRP
could MD MD
n't RB RB
arrange VB VB
the DT DT
$ $ $
7.2 CD CD
billion CD CD
in IN IN
bank NN NN
loans NNS NNS
it PRP PRP
needs VBZ VBZ
to TO TO
buy VB VB
the DT DT
parent NN NN
of IN IN
United NNP NNP
Airlines NNPS NNPS
for IN IN
$ $ $
300 CD CD
a DT DT
share NN NN
. . .
<s>
Takeover-stock JJ JJ
traders NNS NNS
today NN NN
will MD MD
be VB VB
scrambling VBG VBG
to TO TO
learn VB VB
of IN IN
any DT DT
UAL NNP NNP
developments NNS NNS
, , ,
and CC CC
other JJ JJ
takeover NN NN
stocks NNS NNS
are VBP VBP
likely JJ JJ
to TO TO
trade VB VB
in IN IN
sympathy NN NN
. . .
<s>
Investment NN NN
bankers NNS NNS
representing VBG VBG
the DT DT
buy-out NN NN
group NN NN
and CC CC
UAL NNP NNP
's POS POS
board NN NN
spent VBD VBD
a DT DT
frantic JJ JJ
weekend NN NN
trying VBG VBG
to TO TO
hammer VB VB
out RP RP
new JJ JJ
terms NNS NNS
that WDT WDT
would MD MD
be VB VB
more RBR RBR
acceptable JJ JJ
to TO TO
the DT DT
banks NNS NNS
. . .
<s>
After IN IN
UAL NNP NNP
, , ,
the DT DT
stock NN NN
viewed VBN VBN
as IN IN
most RBS RBS
vulnerable JJ JJ
is VBZ VBZ
American NNP NNP
Airlines NNPS NNPS
' POS POS
parent NN NN
AMR NNP NNP
, , ,
the DT DT
target NN NN
of IN IN
a DT DT
$ $ $
120-a-share JJ JJ
takeover NN NN
proposal NN NN
from IN IN
New NNP NNP
York NNP NNP
real JJ JJ
estate NN NN
developer NN NN
Donald NNP NNP
Trump NNP NNP
. . .
<s>
Trading NN NN
in IN IN
AMR NNP NNP
shares NNS NNS
was VBD VBD
suspended VBN VBN
shortly RB RB
after IN IN
3 CD CD
p.m. RB NN
EDT NNP NNP
Friday NNP NNP
and CC CC
did VBD VBD
n't RB RB
resume VB VB
. . .
<s>
Before IN IN
the DT DT
halt NN NN
, , ,
AMR NNP NNP
last RB RB
traded VBD VBD
at IN IN
98 CD CD
5\/8 CD CD
. . .
<s>
Late RB JJ
Friday NNP NNP
night NN NN
, , ,
the DT DT
London NNP NNP
office NN NN
of IN IN
Jefferies NNP NNP
& CC CC
Co. NNP NNP
, , ,
a DT DT
Los NNP NNP
Angeles NNP NNP
securities NNS NNS
firm NN NN
, , ,
traded VBD VBD
AMR NNP NNP
shares NNS NNS
at IN IN
prices NNS NNS
as RB RB
low JJ RB
as IN IN
80 CD CD
. . .
<s>
Similarly RB RB
, , ,
Delta NNP NNP
Air NNP NNP
Lines NNPS NNPS
and CC CC
USAir NNP NNP
Group NNP NNP
dropped VBD VBD
10.1 CD CD
% NN NN
and CC CC
8.5 CD CD
% NN NN
, , ,
respectively RB RB
, , ,
on IN IN
Friday NNP NNP
and CC CC
could MD MD
weaken VB VB
further RB RB
. . .
<s>
Over IN IN
the DT DT
weeked : NN
, , ,
however RB RB
, , ,
two CD CD
developments NNS NNS
in IN IN
other JJ JJ
deals NNS NNS
indicated VBD VBD
that IN IN
commerical JJ JJ
banks NNS NNS
and CC CC
Wall NNP NNP
Street NNP NNP
firms NNS NNS
still RB RB
are VBP VBP
willing JJ JJ
to TO TO
commit VB VB
billions NNS NNS
of IN IN
dollars NNS NNS
to TO TO
finance VB VB
takeover NN NN
bids NNS NNS
launched VBN VBN
by IN IN
major JJ JJ
companies NNS NNS
. . .
<s>
Vitro NNP NNP
S.A. NNP NNP
, , ,
a DT DT
major JJ JJ
Mexican JJ NNP
glass NN NN
maker NN NN
, , ,
said VBD VBD
yesterday NN NN
that IN IN
it PRP PRP
agreed VBD VBD
to TO TO
buy VB VB
Anchor NNP NNP
Glass NNP NNP
Container NNP NNP
in IN IN
a DT DT
tender NN NN
offer NN NN
for IN IN
$ $ $
21.25 CD CD
a DT DT
share NN NN
, , ,
sweetened VBN VBN
from IN IN
the DT DT
original JJ JJ
$ $ $
20-a-share JJ JJ
offer NN NN
Vitro NNP NNP
launched VBD VBD
two CD CD
months NNS NNS
ago RB IN
. . .
<s>
On IN IN
Friday NNP NNP
, , ,
Anchor NNP NNP
shares NNS NNS
fell VBD VBD
1 CD CD
1\/4 CD CD
to TO TO
close VB VB
at IN IN
18 CD CD
1\/2 CD CD
. . .
<s>
For IN IN
the DT DT
broader JJR JJR
market NN NN
, , ,
the DT DT
greatest JJS JJS
significance NN NN
of IN IN
the DT DT
Vitro-Anchor NNP NNP
deal NN NN
may MD MD
be VB VB
that IN IN
it PRP PRP
was VBD VBD
put VBN VBN
together RB RB
late JJ JJ
Friday NNP NNP
night NN NN
-- : :
after IN IN
the DT DT
market NN NN
rout NN NN
-- : :
and CC CC
involves VBZ VBZ
a DT DT
$ $ $
155 CD CD
million CD CD
temporary JJ JJ
`` `` ``
bridge NN NN
'' '' ''
loan NN NN
from IN IN
Donaldson NNP NNP
, , ,
Lufkin NNP NNP
& CC CC
Jenrette NNP NNP
Securities NNPS NNPS
and CC CC
a DT DT
$ $ $
139 CD CD
million CD CD
loan NN NN
from IN IN
Security NNP NNP
Pacific NNP NNP
National NNP NNP
Bank NNP NNP
. . .
<s>
Moreover RB RB
, , ,
to TO TO
complete VB VB
the DT DT
entire JJ JJ
Anchor NNP NNP
Glass NNP NNP
purchase NN NN
and CC CC
refinance VB VB
existing VBG VBG
debt NN NN
, , ,
Donaldson NNP NNP
said VBD VBD
it PRP PRP
is VBZ VBZ
`` `` ``
highly RB RB
confident JJ JJ
'' '' ''
that IN IN
it PRP PRP
will MD MD
be VB VB
able JJ JJ
to TO TO
sell VB VB
$ $ $
400 CD CD
million CD CD
of IN IN
junk NN NN
bonds NNS NNS
for IN IN
Vitro NNP NNP
, , ,
despite IN IN
the DT DT
current JJ JJ
disarray NN NN
in IN IN
the DT DT
junk NN NN
bond NN NN
market NN NN
. . .
<s>
Donaldson NNP NNP
's POS POS
statement NN NN
is VBZ VBZ
n't RB RB
merely RB RB
an DT DT
idle JJ JJ
boast NN NN
, , ,
because IN IN
those DT DT
bonds NNS NNS
will MD MD
have VB VB
to TO TO
be VB VB
sold VBN VBN
before IN IN
Donaldson NNP NNP
's POS POS
bridge NN NN
loan NN NN
can MD MD
be VB VB
paid VBN VBN
back RB RB
. . .
<s>
Security NNP NNP
Pacific NNP NNP
, , ,
meanwhile RB RB
, , ,
said VBD VBD
it PRP PRP
expects VBZ VBZ
to TO TO
arrange VB VB
$ $ $
430 CD CD
million CD CD
in IN IN
bank NN NN
loans NNS NNS
for IN IN
Vitro NNP NNP
. . .
<s>
In IN IN
another DT DT
takeover NN NN
battle NN NN
, , ,
a DT DT
spokesman NN NN
for IN IN
McCaw NNP NNP
Cellular NNP NNP
Communications NNPS NNP
said VBD VBD
yesterday NN NN
that IN IN
McCaw NNP NNP
has VBZ VBZ
been VBN VBN
advised VBN VBN
by IN IN
three CD CD
commercial JJ JJ
banks NNS NNS
that IN IN
they PRP PRP
remain VBP VBP
`` `` ``
highly RB RB
confident JJ JJ
'' '' ''
they PRP PRP
can MD MD
arrange VB VB
$ $ $
4.5 CD CD
billion CD CD
of IN IN
bank NN NN
loans NNS NNS
for IN IN
McCaw NNP NNP
's POS POS
tender NN JJ
offer NN NN
for IN IN
about RB IN
45 CD CD
% NN NN
of IN IN
LIN NNP NNP
Broadcasting NNP NNP
, , ,
`` `` ``
notwithstanding IN IN
recent JJ JJ
events NNS NNS
. . .
<s>
'' '' ''
McCaw NNP NNP
is VBZ VBZ
offering VBG VBG
$ $ $
125 CD CD
a DT DT
share NN NN
for IN IN
22 CD CD
million CD CD
LIN NNP NNP
shares NNS NNS
, , ,
thereby RB RB
challenging VBG VBG
LIN NNP NNP
's POS POS
proposal NN NN
to TO TO
spin VB VB
off RP RP
its PRP$ PRP$
television NN NN
properties NNS NNS
, , ,
pay VBP VB
shareholders NNS NNS
a DT DT
$ $ $
20-a-share JJ JJ
special JJ JJ
dividend NN NN
and CC CC
combine VB VB
its PRP$ PRP$
cellular-telephone JJ JJ
operations NNS NNS
with IN IN
BellSouth NNP NNP
's POS POS
cellular JJ JJ
business NN NN
. . .
<s>
On IN IN
Friday NNP NNP
, , ,
LIN NNP NNP
shares NNS NNS
were VBD VBD
among IN IN
the DT DT
few JJ JJ
takeover NN NN
issues NNS NNS
that WDT WDT
did VBD VBD
n't RB RB
fall VB VB
much RB RB
, , ,
dropping VBG VBG
5 CD CD
1\/2 CD CD
, , ,
or CC CC
4.9 CD CD
% NN NN
, , ,
to TO TO
close VB VB
at IN IN
107 CD CD
1\/2 CD CD
. . .
<s>
Traders NNS NNS
and CC CC
investment NN NN
bankers NNS NNS
said VBD VBD
LIN NNP NNP
shares NNS NNS
were VBD VBD
n't RB RB
hurt VBN VBN
much RB RB
because IN IN
BellSouth NNP NNP
is VBZ VBZ
viewed VBN VBN
as IN IN
a DT DT
well-financed JJ JJ
corporate JJ JJ
buyer NN NN
unlikely JJ JJ
to TO TO
be VB VB
affected VBN VBN
by IN IN
skittishness NN NN
among IN IN
bankers NNS NNS
or CC CC
bond NN NN
buyers NNS NNS
. . .
<s>
Investment NN NN
bankers NNS NNS
interviewed VBN VBN
over IN IN
the DT DT
weekend NN NN
see VB VBP
a DT DT
silver NN NN
lining NN VBG
for IN IN
the DT DT
merger NN NN
business NN NN
in IN IN
the DT DT
stock-market NN NN
drop NN NN
. . .
<s>
Potential JJ JJ
bidders NNS NNS
for IN IN
companies NNS NNS
`` `` ``
were VBD VBD
saying VBG VBG
that IN IN
things NNS NNS
were VBD VBD
beginning VBG VBG
to TO TO
look VB VB
expensive JJ JJ
, , ,
'' '' ''
says VBZ VBZ
Mr. NNP NNP
Rattner NNP NNP
of IN IN
Lazard NNP NNP
. . .
<s>
`` `` ``
Nothing NN NN
makes VBZ VBZ
things NNS NNS
look VB VB
cheaper JJR JJR
than IN IN
a DT DT
200-point JJ JJ
drop NN NN
in IN IN
the DT DT
Dow NNP NNP
, , ,
'' '' ''
Mr. NNP NNP
Rattner NNP NNP
says VBZ VBZ
. . .
<s>
`` `` ``
Just RB RB
as IN IN
there EX EX
are VBP VBP
people NNS NNS
waiting VBG VBG
to TO TO
become VB VB
bargain NN NN
hunters NNS NNS
in IN IN
the DT DT
stock NN NN
market NN NN
, , ,
there EX EX
are VBP VBP
people NNS NNS
waiting VBG VBG
to TO TO
become VB VB
bargain NN NN
hunters NNS NNS
in IN IN
the DT DT
deal NN NN
market NN NN
. . .
<s>
'' '' ''
Investment NN NN
bankers NNS NNS
expect VBP VBP
most JJS JJS
of IN IN
those DT DT
bargain NN NN
hunters NNS NNS
to TO TO
be VB VB
well-heeled JJ JJ
corporations NNS NNS
. . .
<s>
`` `` ``
In IN IN
the DT DT
past NN NN
, , ,
corporate JJ JJ
buyers NNS NNS
were VBD VBD
often RB RB
discouraged VBN VBN
from IN IN
making VBG VBG
bids NNS NNS
because IN IN
of IN IN
competition NN NN
from IN IN
LBO NNP NNP
firms NNS NNS
, , ,
which WDT WDT
were VBD VBD
often RB RB
prepared VBN VBN
to TO TO
outbid VB VB
'' '' ''
the DT DT
corporations NNS NNS
, , ,
says VBZ VBZ
J. NNP NNP
Tomilson NNP NNP
Hill NNP NNP
, , ,
head NN NN
of IN IN
mergers NNS NNS
and CC CC
acquisitions NNS NNS
at IN IN
Shearson NNP NNP
Lehman NNP NNP
Hutton NNP NNP
. . .
<s>
Now RB RB
, , ,
`` `` ``
corporate JJ JJ
buyers NNS NNS
should MD MD
be VB VB
willing JJ JJ
to TO TO
re-enter VB VB
the DT DT
acquisition NN NN
market NN NN
because IN IN
the DT DT
competition NN NN
from IN IN
junkbond-financed : JJ
buyers NNS NNS
has VBZ VBZ
been VBN VBN
reduced VBN VBN
. . .
<s>
'' '' ''
Many JJ JJ
takeover NN NN
stocks NNS NNS
plunged VBD VBD
Friday NNP NNP
, , ,
as IN IN
speculators NNS NNS
retained VBD VBD
their PRP$ PRP$
confidence NN NN
in IN IN
corporate JJ JJ
buyers NNS NNS
but CC CC
fled VBD VBD
from IN IN
the DT DT
socalled JJ VBN
whisper NN NN
stocks NNS NNS
, , ,
the DT DT
targets NNS NNS
of IN IN
rumored VBN VBN
deals NNS NNS
. . .
<s>
Columbia NNP NNP
Pictures NNPS NNPS
Entertainment NNP NNP
, , ,
which WDT WDT
has VBZ VBZ
agreed VBN VBN
to TO TO
a DT DT
friendly JJ JJ
$ $ $
27-a-share JJ JJ
bid NN NN
from IN IN
Sony NNP NNP
of IN IN
Japan NNP NNP
, , ,
fell VBD VBD
only RB RB
1\/8 CD CD
to TO TO
close VB VB
at IN IN
26 CD CD
5\/8 CD CD
. . .
<s>
But CC CC
several JJ JJ
stocks NNS NNS
long RB RB
rumored VBN VBN
to TO TO
be VB VB
ripe JJ JJ
for IN IN
a DT DT
takeover NN NN
or CC CC
restructuring NN VBG
fell VBD VBD
10 CD CD
% NN NN
or CC CC
more JJR JJR
. . .
<s>
They PRP PRP
include VBP VBP
USX NNP NNP
, , ,
down RB IN
11.7 CD CD
% NN NN
; : :
Upjohn NNP NNP
, , ,
down RB IN
11.1 CD CD
% NN NN
; : :
Campbell NNP NNP
Soup NNP NNP
, , ,
down RB IN
11 CD CD
% NN NN
; : :
Paramount NNP NNP
Communications NNP NNPS
, , ,
off RB IN
10.3 CD CD
% NN NN
; : :
Woolworth NNP NNP
, , ,
down RB IN
10.2 CD CD
% NN NN
; : :
Delta NNP NNP
Air NNP NNP
Lines NNPS NNPS
, , ,
down RB IN
10.1 CD CD
% NN NN
, , ,
and CC CC
MCA NNP NNP
, , ,
down RB IN
9.7 CD CD
% NN NN
. . .
<s>
The DT DT
market NN NN
-- : :
and CC CC
investment NN NN
bankers NNS NNS
-- : :
are VBP VBP
even RB RB
less RBR JJR
sanguine JJ NN
about IN IN
companies NNS NNS
that WDT WDT
have VBP VBP
had VBN VBN
at IN IN
least JJS JJS
one CD CD
bid NN NN
, , ,
merger NN NN
agreement NN NN
or CC CC
restructuring NN VBG
plan NN NN
fall NN VB
through IN RP
already RB RB
. . .
<s>
Given VBN VBN
the DT DT
weakness NN NN
in IN IN
both DT PDT
the DT DT
junk NN NN
bond NN NN
market NN NN
and CC CC
the DT DT
stock NN NN
market NN NN
, , ,
traders NNS NNS
fear VBP VBP
that IN IN
these DT DT
transactions NNS NNS
may MD MD
be VB VB
revised VBN VBN
yet RB RB
again RB RB
. . .
<s>
Examples NNS NNS
include VBP VBP
Kollmorgen NNP NNP
, , ,
whose WP$ WP$
agreement NN NN
to TO TO
be VB VB
acquired VBN VBN
for IN IN
$ $ $
25 CD CD
a DT DT
share NN NN
by IN IN
Vernitron NNP NNP
collapsed VBD VBD
last JJ JJ
month NN NN
. . .
<s>
Kollmorgen NNP NNP
shares NNS NNS
fell VBD VBD
nearly RB RB
20 CD CD
% NN NN
on IN IN
Friday NNP NNP
to TO TO
close VB VB
at IN IN
12 CD CD
7\/8 CD CD
. . .
<s>
Ramada NNP NNP
, , ,
which WDT WDT
first RB RB
delayed VBD VBD
and CC CC
then RB RB
shelved VBD VBD
a DT DT
$ $ $
400 CD CD
million CD CD
junk NN NN
bond NN NN
sale NN NN
that WDT WDT
was VBD VBD
designed VBN VBN
to TO TO
help VB VB
finance VB VB
a DT DT
restructuring NN VBG
, , ,
fell VBD VBD
15.6 CD CD
% NN NN
to TO TO
close VB VB
at IN IN
9 CD CD
1\/2 CD CD
. . .
<s>
Ramada NNP NNP
has VBZ VBZ
said VBN VBN
it PRP PRP
hopes VBZ VBZ
to TO TO
propose VB VB
a DT DT
new JJ JJ
restructuring NN VBG
plan NN NN
but CC CC
has VBZ VBZ
n't RB RB
indicated VBN VBN
when WRB WRB
it PRP PRP
will MD MD
do VB VB
so RB RB
. . .
<s>
Shares NNS NNS
of IN IN
American NNP NNP
Medical NNP NNP
International NNP NNP
, , ,
which WDT WDT
agreed VBD VBD
last JJ JJ
week NN NN
to TO TO
accept VB VB
a DT DT
lower JJR JJR
price NN NN
from IN IN
a DT DT
buy-out NN NN
group NN NN
that WDT WDT
includes VBZ VBZ
First NNP NNP
Boston NNP NNP
Corp. NNP NNP
and CC CC
the DT DT
Pritzker NNP NNP
family NN NN
of IN IN
Chicago NNP NNP
, , ,
fell VBD VBD
15.8 CD CD
% NN NN
on IN IN
Friday NNP NNP
to TO TO
close VB VB
at IN IN
20 CD CD
. . .
<s>
The DT DT
buy-out NN NN
group NN NN
is VBZ VBZ
offering VBG VBG
$ $ $
26.50 CD CD
a DT DT
share NN NN
for IN IN
63 CD CD
million CD CD
American NNP NNP
Medical NNP NNP
shares NNS NNS
, , ,
down RB IN
from IN IN
its PRP$ PRP$
offer NN NN
in IN IN
July NNP NNP
of IN IN
$ $ $
28 CD CD
a DT DT
share NN NN
for IN IN
68.8 CD CD
million CD CD
shares NNS NNS
. . .
<s>
But CC CC
investment NN NN
bankers NNS NNS
say VBP VBP
the DT DT
market NN NN
may MD MD
have VB VB
oversold VBN VB
some DT DT
takeover-related JJ JJ
stocks NNS NNS
. . .
<s>
Hilton NNP NNP
Hotels NNPS NNPS
, , ,
for IN IN
example NN NN
, , ,
was VBD VBD
among IN IN
the DT DT
worst-hit JJ JJ
issues NNS NNS
, , ,
falling VBG VBG
20.2 CD CD
% NN NN
to TO TO
close VB VB
at IN IN
85 CD CD
, , ,
down RB IN
21 CD CD
1\/2 CD CD
on IN IN
Friday NNP NNP
. . .
<s>
Hilton NNP NNP
currently RB RB
is VBZ VBZ
soliciting VBG VBG
bids NNS NNS
for IN IN
a DT DT
sale NN NN
of IN IN
part NN NN
or CC CC
all DT DT
of IN IN
its PRP$ PRP$
hotel NN NN
and CC CC
casino NN NN
businesses NNS NNS
. . .
<s>
People NNS NNS
familiar JJ JJ
with IN IN
Hilton NNP NNP
said VBD VBD
over IN IN
the DT DT
weekend NN NN
that IN IN
the DT DT
depth NN NN
of IN IN
the DT DT
sell-off NN NN
in IN IN
Hilton NNP NNP
shares NNS NNS
was VBD VBD
unwarranted JJ JJ
because IN IN
none NN NN
of IN IN
the DT DT
likely JJ JJ
buyers NNS NNS
would MD MD
be VB VB
dependent JJ JJ
on IN IN
junk-bond NN JJ
financing NN NN
. . .
<s>
However RB RB
, , ,
they PRP PRP
conceded VBD VBD
that IN IN
some DT DT
potential JJ JJ
bidders NNS NNS
would MD MD
rely VB VB
on IN IN
bank NN NN
loans NNS NNS
and CC CC
would MD MD
be VB VB
hurt VBN VBN
if IN IN
the DT DT
troubles NNS NNS
of IN IN
the DT DT
UAL NNP NNP
buy-out NN NN
group NN NN
signified VBD VBD
a DT DT
general JJ JJ
unwillingness NN NN
among IN IN
banks NNS NNS
to TO TO
provide VB VB
credit NN NN
for IN IN
debt-financed JJ JJ
takeovers NNS NNS
. . .
<s>
Hilton NNP NNP
officials NNS NNS
said VBD VBD
they PRP PRP
were VBD VBD
n't RB RB
worried VBN VBN
about IN IN
the DT DT
drop NN NN
in IN IN
the DT DT
company NN NN
's POS POS
stock NN NN
. . .
<s>
William NNP NNP
Lebo NNP NNP
, , ,
Hilton NNP NNP
's POS POS
general JJ JJ
counsel NN NN
, , ,
said VBD VBD
plans NNS NNS
to TO TO
consider VB VB
a DT DT
sale NN NN
of IN IN
the DT DT
company NN NN
or CC CC
some DT DT
of IN IN
its PRP$ PRP$
assets NNS NNS
are VBP VBP
`` `` ``
on IN IN
track NN NN
'' '' ''
for IN IN
what WP WP
has VBZ VBZ
been VBN VBN
described VBN VBN
previously RB RB
as IN IN
`` `` ``
a DT DT
slow JJ JJ
and CC CC
deliberate JJ JJ
process NN NN
. . .
<s>
'' '' ''
`` `` ``
I PRP PRP
ca MD MD
n't RB RB
believe VB VB
that IN IN
any DT DT
potential JJ JJ
buyer NN NN
for IN IN
Hilton NNP NNP
would MD MD
be VB VB
affected VBN VBN
by IN IN
one CD CD
day NN NN
's POS POS
trading NN NN
, , ,
'' '' ''
Mr. NNP NNP
Lebo NNP NNP
said VBD VBD
. . .
<s>
But CC CC
the DT DT
stock NN NN
market NN NN
as IN IN
a DT DT
whole NN NN
, , ,
bolstered VBD VBD
as IN IN
it PRP PRP
is VBZ VBZ
by IN IN
takeover NN NN
speculation NN NN
, , ,
remains VBZ VBZ
vulnerable JJ JJ
to TO TO
any DT DT
further JJ JJ
pullback NN NN
by IN IN
takeover NN NN
financiers NNS NNS
, , ,
both DT DT
in IN IN
the DT DT
junkbond : NN
market NN NN
and CC CC
among IN IN
commercial JJ JJ
banks NNS NNS
. . .
<s>
For IN IN
debt-ridden JJ JJ
suitors NNS NNS
, , ,
`` `` ``
the DT DT
takeover NN NN
game NN NN
has VBZ VBZ
been VBN VBN
over IN IN
for IN IN
some DT DT
time NN NN
, , ,
'' '' ''
says VBZ VBZ
New NNP NNP
York NNP NNP
money NN NN
manager NN NN
Neil NNP NNP
Weisman NNP NNP
of IN IN
Chilmark NNP NNP
Capital NNP NNP
, , ,
who WP WP
has VBZ VBZ
been VBN VBN
keeping VBG VBG
85 CD CD
% NN NN
of IN IN
his PRP$ PRP$
portfolio NN NN
in IN IN
cash NN NN
. . .
<s>
`` `` ``
The DT DT
market NN NN
is VBZ VBZ
just RB RB
waking VBG VBG
up RP RP
to TO TO
that DT DT
point NN NN
. . .
<s>
'' '' ''
Pauline NNP NNP
Yoshihashi NNP NNP
in IN IN
Los NNP NNP
Angeles NNP NNP
contributed VBD VBD
to TO TO
this DT DT
column NN NN
. . .
<s>
Of IN IN
all PDT PDT
the DT DT
one-time JJ JJ
expenses NNS NNS
incurred VBN VBN
by IN IN
a DT DT
corporation NN NN
or CC CC
professional JJ JJ
firm NN JJ
, , ,
few JJ JJ
are VBP VBP
larger JJR JJR
or CC CC
longer JJR JJR
term NN NN
than IN IN
the DT DT
purchase NN NN
of IN IN
real JJ JJ
estate NN NN
or CC CC
the DT DT
signing NN NN
of IN IN
a DT DT
commercial JJ JJ
lease NN NN
. . .
<s>
To TO TO
take VB VB
full JJ JJ
advantage NN NN
of IN IN
the DT DT
financial JJ JJ
opportunities NNS NNS
in IN IN
this DT DT
commitment NN NN
, , ,
however RB RB
, , ,
the DT DT
corporation NN NN
or CC CC
professional JJ JJ
firm NN NN
must MD MD
do VB VB
more JJR RBR
than IN IN
negotiate VB VB
the DT DT
best JJS JJS
purchase NN NN
price NN NN
or CC CC
lease NN NN
terms NNS NNS
. . .
<s>
It PRP PRP
must MD MD
also RB RB
evaluate VB VB
the DT DT
real-estate NN NN
market NN NN
in IN IN
the DT DT
chosen VBN VBN
location NN NN
from IN IN
a DT DT
new JJ JJ
perspective NN NN
. . .
<s>
Specifically RB RB
, , ,
it PRP PRP
must MD MD
understand VB VB
how WRB WRB
real-estate JJ NN
markets NNS NNS
overreact VB VBP
to TO TO
shifts NNS NNS
in IN IN
regional JJ JJ
economies NNS NNS
and CC CC
then RB RB
take VB VBP
advantage NN NN
of IN IN
these DT DT
opportunities NNS NNS
. . .
<s>
When WRB WRB
a DT DT
regional JJ JJ
economy NN NN
catches VBZ VBZ
cold JJ NN
, , ,
the DT DT
local JJ JJ
real-estate NN NN
market NN NN
gets VBZ VBZ
pneumonia NN NN
. . .
<s>
In IN IN
other JJ JJ
words NNS NNS
, , ,
real-estate NN NN
market NN NN
indicators NNS NNS
, , ,
such JJ JJ
as IN IN
building NN NN
permits NNS NNS
and CC CC
leasing NN NN
activity NN NN
, , ,
plummet VB VBP
much RB RB
further RB RB
than IN IN
a DT DT
local JJ JJ
economy NN NN
in IN IN
recession NN NN
. . .
<s>
This DT DT
was VBD VBD
seen VBN VBN
in IN IN
the DT DT
late JJ JJ
1960s NNS CD
in IN IN
Los NNP NNP
Angeles NNP NNP
and CC CC
the DT DT
mid-1970s NNS CD
in IN IN
New NNP NNP
York NNP NNP
. . .
<s>
But CC CC
the DT DT
reverse NN NN
is VBZ VBZ
also RB RB
true JJ JJ
: : :
When WRB WRB
a DT DT
region NN NN
's POS POS
economy NN NN
rebounds NNS VBZ
from IN IN
a DT DT
slowdown NN NN
, , ,
these DT DT
real-estate NN NN
indicators NNS NNS
will MD MD
rebound VB VB
far RB RB
faster RBR RBR
than IN IN
the DT DT
improving VBG VBG
economy NN NN
. . .
<s>
Why WRB WRB
do VBP VBP
local JJ JJ
real-estate NN NN
markets NNS NNS
overreact VB VB
to TO TO
regional JJ JJ
economic JJ JJ
cycles NNS NNS
? . .
<s>
Because IN IN
real-estate NN NN
purchases NNS NNS
and CC CC
leases NNS NNS
are VBP VBP
such JJ JJ
major JJ JJ
long-term JJ JJ
commitments NNS NNS
that IN IN
most JJS JJS
companies NNS NNS
and CC CC
individuals NNS NNS
make VBP VBP
these DT DT
decisions NNS NNS
only RB RB
when WRB WRB
confident JJ JJ
of IN IN
future JJ JJ
economic JJ JJ
stability NN NN
and CC CC
growth NN NN
. . .
<s>
Metropolitan NNP NNP
Detroit NNP NNP
was VBD VBD
written VBN VBN
off RP RP
economically RB RB
during IN IN
the DT DT
early JJ JJ
1980s CD CD
, , ,
as IN IN
the DT DT
domestic JJ JJ
auto NN NN
industry NN NN
suffered VBD VBD
a DT DT
serious JJ JJ
sales NNS NNS
depression NN NN
and CC CC
adjustment NN NN
. . .
<s>
Area NN NN
employment NN NN
dropped VBD VBD
by IN IN
13 CD CD
% NN NN
from IN IN
its PRP$ PRP$
1979 CD CD
peak NN NN
and CC CC
retail JJ JJ
sales NNS NNS
were VBD VBD
down RB IN
14 CD CD
% NN NN
. . .
<s>
However RB RB
, , ,
the DT DT
real-estate NN NN
market NN NN
was VBD VBD
hurt VBN VBN
even RB RB
more RBR JJR
. . .
<s>
For IN IN
example NN NN
, , ,
residential JJ JJ
building NN NN
permits NNS NNS
in IN IN
the DT DT
trough NN NN
year NN NN
of IN IN
1982 CD CD
were VBD VBD
off RB IN
76 CD CD
% NN NN
from IN IN
the DT DT
1979 CD CD
peak NN NN
level NN NN
. . .
<s>
Once RB RB
metropolitan JJ JJ
Detroit NNP NNP
's POS POS
economy NN NN
rallied VBD VBD
in IN IN
the DT DT
mid-1980s NNS CD
, , ,
real JJ JJ
estate NN NN
rebounded NN VBD
. . .
<s>
Building NN NN
permits NNS NNS
, , ,
for IN IN
example NN NN
, , ,
soared VBD VBD
a DT DT
staggering JJ JJ
400 CD CD
% NN NN
between IN IN
1982 CD CD
and CC CC
the DT DT
peak JJ NN
year NN NN
of IN IN
1986 CD CD
. . .
<s>
Where WRB WRB
, , ,
savvy JJ JJ
corporations NNS NNS
and CC CC
professional JJ JJ
firms NNS NNS
are VBP VBP
now RB RB
asking VBG VBG
, , ,
are VBP VBP
today NN NN
's POS POS
opportunities NNS NNS
? . .
<s>
Look VB VB
no DT RB
further JJ RB
than IN IN
metropolitan JJ JJ
Houston NNP NNP
and CC CC
Denver NNP NNP
, , ,
two CD CD
of IN IN
the DT DT
most RBS RBS
depressed JJ VBN
, , ,
overbuilt JJ NN
and CC CC
potentially RB RB
undervalued VBN VBD
real-estate NN NN
markets NNS NNS
in IN IN
the DT DT
nation NN NN
. . .
<s>
Of IN IN
course NN NN
, , ,
some DT DT
observers NNS NNS
have VBP VBP
touted VBN VBN
Houston NNP NNP
and CC CC
Denver NNP NNP
for IN IN
the DT DT
past JJ JJ
five CD CD
years NNS NNS
as IN IN
a DT DT
counter-cyclical JJ JJ
play NN NN
. . .
<s>
But CC CC
now RB RB
appears VBZ VBZ
to TO TO
be VB VB
the DT DT
time NN NN
to TO TO
act VB VB
. . .
<s>
Metropolitan NNP NNP
Houston NNP NNP
's POS POS
economy NN NN
did VBD VBD
drop VB VB
and CC CC
then RB RB
flatten VB VB
in IN IN
the DT DT
years NNS NNS
after IN IN
its PRP$ PRP$
1982 CD CD
peak NN NN
. . .
<s>
In IN IN
the DT DT
mid-1980s NNS CD
, , ,
employment NN NN
was VBD VBD
down RB IN
as RB RB
much JJ JJ
as IN IN
5 CD CD
% NN NN
from IN IN
the DT DT
1982 CD CD
peak NN NN
and CC CC
retail JJ JJ
sales NNS NNS
were VBD VBD
off RB IN
13 CD CD
% NN NN
. . .
<s>
The DT DT
real-estate NN NN
market NN NN
suffered VBD VBD
even RB RB
more RBR RBR
severe JJ JJ
setbacks NNS NNS
. . .
<s>
Office NN NN
construction NN NN
dropped VBD VBD
97 CD CD
% NN NN
. . .
<s>
The DT DT
vacancy NN NN
rate NN NN
soared VBD VBD
more JJR JJR
than IN IN
20 CD CD
% NN NN
in IN IN
nearly RB RB
every DT DT
product NN NN
category NN NN
, , ,
and CC CC
more JJR JJR
than IN IN
30 CD CD
% NN NN
of IN IN
office NN NN
space NN NN
was VBD VBD
vacant JJ JJ
. . .
<s>
To TO TO
some DT DT
observers NNS NNS
, , ,
the DT DT
empty JJ JJ
office NN NN
buildings NNS NNS
of IN IN
Houston NNP NNP
's POS POS
`` `` ``
see-through JJ JJ
skyline NN NN
'' '' ''
were VBD VBD
indicative JJ JJ
of IN IN
a DT DT
very RB RB
troubled JJ JJ
economy NN NN
. . .
<s>
As IN IN
usual JJ JJ
, , ,
the DT DT
real-estate NN NN
market NN NN
had VBD VBD
overreacted VBN VBN
. . .
<s>
Actually RB RB
, , ,
the DT DT
region NN NN
's POS POS
economy NN NN
retained VBD VBD
a DT DT
firm JJ JJ
foundation NN NN
. . .
<s>
Metropolitan NNP NNP
Houston NNP NNP
's POS POS
population NN NN
has VBZ VBZ
held VBN VBN
steady JJ JJ
over IN IN
the DT DT
past JJ JJ
six CD CD
years NNS NNS
. . .
<s>
And CC CC
personal JJ JJ
income NN NN
, , ,
after IN IN
slumping VBG VBG
in IN IN
the DT DT
mid-1980s NNS CD
, , ,
has VBZ VBZ
returned VBN VBN
to TO TO
its PRP$ PRP$
1982 CD CD
level NN NN
in IN IN
real JJ JJ
dollar NN NN
terms NNS NNS
. . .
<s>
Today NN NN
, , ,
metropolitan JJ JJ
Houston NNP NNP
's POS POS
real-estate NN NN
market NN NN
is VBZ VBZ
poised VBN VBN
for IN IN
a DT DT
significant JJ JJ
turnaround NN NN
. . .
<s>
More JJR JJR
than IN IN
42,000 CD CD
jobs NNS NNS
were VBD VBD
added VBN VBN
in IN IN
metro NN NN
Houston NNP NNP
last JJ JJ
year NN NN
, , ,
primarily RB RB
in IN IN
biotechnology NN NN
, , ,
petrochemical NN NN
processing NN NN
, , ,
and CC CC
the DT DT
computer NN NN
industry NN NN
. . .
<s>
This DT DT
growth NN NN
puts VBZ VBZ
Houston NNP NNP
in IN IN
the DT DT
top JJ JJ
five CD CD
metro NN NN
areas NNS NNS
in IN IN
the DT DT
nation NN NN
last JJ JJ
year NN NN
. . .
<s>
And CC CC
forecasts NNS NNS
project VBP VBP
a DT DT
2.5 CD CD
% NN NN
to TO TO
3 CD CD
% NN NN
growth NN NN
rate NN NN
in IN IN
jobs NNS NNS
over IN IN
the DT DT
next JJ JJ
few JJ JJ
years NNS NNS
-- : :
nearly RB RB
twice RB RB
the DT DT
national JJ JJ
average NN NN
. . .
<s>
Denver NNP NNP
is VBZ VBZ
another DT DT
metropolitan JJ JJ
area NN NN
where WRB WRB
the DT DT
commercial JJ JJ
real-estate NN NN
market NN NN
has VBZ VBZ
overreacted VBN VBN
to TO TO
the DT DT
region NN NN
's POS POS
economic JJ JJ
trends NNS NNS
, , ,
although IN IN
Denver NNP NNP
has VBZ VBZ
not RB RB
experienced VBN VBN
as IN IN
severe JJ JJ
an DT DT
economic JJ JJ
downturn NN NN
as IN IN
Houston NNP NNP
. . .
<s>
By IN IN
some DT DT
measures NNS NNS
, , ,
metropolitan JJ JJ
Denver NNP NNP
's POS POS
economy NN NN
has VBZ VBZ
actually RB RB
improved VBN VBN
in IN IN
the DT DT
past JJ JJ
four CD CD
years NNS NNS
. . .
<s>
Its PRP$ PRP$
population NN NN
has VBZ VBZ
continued VBN VBN
to TO TO
increase VB VB
since IN IN
1983 CD CD
, , ,
the DT DT
peak JJ NN
year NN NN
of IN IN
the DT DT
economic JJ JJ
cycle NN NN
. . .
<s>
Employment NNP NN
is VBZ VBZ
now RB RB
4 CD CD
% NN NN
higher JJR JJR
than IN IN
in IN IN
1983 CD CD
. . .
<s>
Buying VBG VBG
income NN NN
in IN IN
real JJ JJ
dollars NNS NNS
actually RB RB
increased VBD VBD
15 CD CD
% NN NN
between IN IN
1983 CD CD
and CC CC
1987 CD CD
( ( (
the DT DT
most RBS RBS
recent JJ JJ
year NN NN
available JJ JJ
) ) )
. . .
<s>
The DT DT
rates NNS NNS
of IN IN
increase NN NN
, , ,
however RB RB
, , ,
are VBP VBP
less JJR JJR
than IN IN
the DT DT
rapid JJ JJ
growth NN NN
of IN IN
the DT DT
boom NN NN
years NNS NNS
, , ,
and CC CC
this DT DT
has VBZ VBZ
resulted VBN VBN
in IN IN
a DT DT
loss NN NN
of IN IN
confidence NN NN
in IN IN
the DT DT
economy NN NN
. . .
<s>
In IN IN
a DT DT
self-fulfilling JJ JJ
prophecy NN NN
, , ,
therefore RB RB
, , ,
the DT DT
region NN NN
's POS POS
real-estate NN NN
market NN NN
all DT DT
but CC CC
collapsed VBD VBD
in IN IN
recent JJ JJ
years NNS NNS
. . .
<s>
Housing NN NN
building NN NN
permits NNS NNS
are VBP VBP
down RB IN
more JJR RBR
than IN IN
75 CD CD
% NN NN
from IN IN
their PRP$ PRP$
1983 CD CD
peaks NNS NNS
. . .
<s>
Although IN IN
no DT DT
one NN NN
can MD MD
predict VB VB
when WRB WRB
metropolitan JJ JJ
Denver NNP NNP
's POS POS
real-estate NN NN
market NN NN
will MD MD
rebound VB VB
, , ,
major JJ JJ
public JJ JJ
works NNS NNS
projects NNS NNS
costing VBG VBG
several JJ JJ
billion CD CD
dollars NNS NNS
are VBP VBP
under IN IN
way NN NN
or CC CC
planned VBN VBD
-- : :
such JJ JJ
as IN IN
a DT DT
new JJ JJ
convention NN NN
center NN NN
, , ,
a DT DT
major JJ JJ
beltway NN NN
encircling VBG VBG
the DT DT
metropolitan JJ JJ
area NN NN
, , ,
and CC CC
a DT DT
new JJ JJ
regional JJ JJ
airport NN NN
. . .
<s>
When WRB WRB
Denver NNP NNP
's POS POS
regional JJ JJ
economy NN NN
begins VBZ VBZ
to TO TO
grow VB VB
faster RBR RBR
-- : :
such PDT PDT
a DT DT
recovery NN NN
could MD MD
occur VB VB
as RB RB
early RB RB
as IN IN
next JJ JJ
year NN NN
-- : :
business NN NN
and CC CC
consumer NN NN
confidence NN NN
will MD MD
return VB VB
, , ,
and CC CC
the DT DT
resulting VBG VBG
explosion NN NN
of IN IN
real-estate NN NN
activity NN NN
will MD MD
dwarf VB VB
the DT DT
general JJ JJ
economic JJ JJ
rebound NN NN
. . .
<s>
What WP WDT
real-estate NN NN
strategy NN NN
should MD MD
one CD NN
follow VB VB
in IN IN
a DT DT
metropolitan JJ JJ
area NN NN
whose WP$ WP$
economic JJ JJ
health NN NN
is VBZ VBZ
not RB RB
as RB RB
easy JJ JJ
to TO TO
determine VB VB
as IN IN
Houston NNP NNP
's POS POS
or CC CC
Denver NNP NNP
's POS POS
? . .
<s>
Generally RB RB
, , ,
overcapacity NN NN
in IN IN
commercial JJ JJ
real JJ JJ
estate NN NN
is VBZ VBZ
dropping VBG VBG
from IN IN
its PRP$ PRP$
mid-1980s NNS CD
peak NN NN
, , ,
even RB RB
in IN IN
such JJ JJ
economically RB RB
healthy JJ JJ
metropolitan JJ JJ
areas NNS NNS
as IN IN
Washington NNP NNP
, , ,
New NNP NNP
York NNP NNP
and CC CC
Los NNP NNP
Angeles NNP NNP
. . .
<s>
Vacancy : NN
rates NNS NNS
in IN IN
the DT DT
15 CD CD
% NN NN
to TO TO
19 CD CD
% NN NN
range NN NN
today NN NN
may MD MD
easily RB RB
rise VB VB
to TO TO
the DT DT
low JJ JJ
to TO TO
mid-20 JJ CD
% NN NN
range NN NN
in IN IN
a DT DT
couple NN NN
of IN IN
years NNS NNS
. . .
<s>
Under IN IN
these DT DT
conditions NNS NNS
, , ,
even RB RB
a DT DT
flattening VBG VBG
out IN IN
of IN IN
economic JJ JJ
growth NN NN
-- : :
`` `` ``
catching VBG VBG
cold JJ NN
'' '' ''
-- : :
in IN IN
the DT DT
healthy JJ JJ
metropolitan JJ JJ
areas NNS NNS
will MD MD
create VB VB
significant JJ JJ
opportunities NNS NNS
for IN IN
corporations NNS NNS
and CC CC
professional JJ JJ
service NN NN
firms NNS NNS
looking VBG VBG
for IN IN
bargains NNS NNS
as IN IN
the DT DT
realestate VB NN
industry NN NN
catches VBZ VBZ
pneumonia NN NN
. . .
<s>
Those DT DT
looking VBG VBG
for IN IN
real-estate NN NN
bargains NNS NNS
in IN IN
distressed JJ JJ
metropolitan JJ JJ
areas NNS NNS
should MD MD
lock VB VB
in RP RP
leases NNS NNS
or CC CC
buy VB VB
now RB RB
; : :
those DT DT
looking VBG VBG
in IN IN
healthy JJ JJ
metropolitan JJ JJ
areas NNS NNS
should MD MD
take VB VB
a DT DT
short-term JJ JJ
( ( (
three-year JJ JJ
) ) )
lease NN NN
and CC CC
wait VB VB
for IN IN
the DT DT
bargains NNS NNS
ahead RB RB
. . .
<s>
Mr. NNP NNP
Leinberger NNP NNP
is VBZ VBZ
managing VBG VBG
partner NN NN
of IN IN
a DT DT
real-estate NN NN
advisory JJ JJ
firm NN NN
based VBN VBN
in IN IN
Beverly NNP NNP
Hills NNP NNPS
, , ,
Calif NNP NNP
. . .
<s>
Kysor NNP NNP
Industrial NNP NNP
Corp. NNP NNP
said VBD VBD
it PRP PRP
expects VBZ VBZ
its PRP$ PRP$
third-quarter JJ NN
net JJ NN
earnings NNS NNS
to TO TO
be VB VB
between IN IN
two CD CD
cents NNS NNS
and CC CC
four CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
compared VBN VBN
with IN IN
61 CD CD
cents NNS NNS
a DT DT
share NN NN
a DT DT
year NN NN
ago RB IN
. . .
<s>
Analysts NNS NNS
had VBD VBD
been VBN VBN
projecting VBG VBG
that IN IN
the DT DT
company NN NN
's POS POS
earnings NNS NNS
would MD MD
be VB VB
between IN IN
25 CD CD
cents NNS NNS
and CC CC
30 CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
The DT DT
year-earlier JJ JJ
third-quarter JJ NN
earnings NNS NNS
amounted VBD VBD
to TO TO
$ $ $
4.1 CD CD
million CD CD
. . .
<s>
The DT DT
company NN NN
said VBD VBD
a DT DT
drop NN NN
in IN IN
activity NN NN
in IN IN
the DT DT
powerboat NN NN
industry NN NN
reduced VBD VBD
sales NNS JJ
volume NN NN
at IN IN
its PRP$ PRP$
two CD CD
marine-related JJ JJ
operations NNS NNS
. . .
<s>
Also RB RB
, , ,
the DT DT
company NN NN
said VBD VBD
its PRP$ PRP$
commercial JJ JJ
products NNS NNS
operation NN NN
failed VBD VBD
to TO TO
meet VB VB
forecasts NNS NNS
. . .
<s>
Kysor NNP NNP
, , ,
a DT DT
maker NN NN
of IN IN
heavy-duty JJ JJ
truck NN NN
and CC CC
commercial JJ JJ
refrigeration NN NN
equipment NN NN
, , ,
said VBD VBD
it PRP PRP
expects VBZ VBZ
its PRP$ PRP$
fourth-quarter JJ NN
earnings NNS NNS
to TO TO
be VB VB
more RBR RBR
closely RB RB
in IN IN
line NN NN
with IN IN
usual JJ JJ
levels NNS NNS
, , ,
which WDT WDT
are VBP VBP
between IN IN
30 CD CD
cents NNS NNS
and CC CC
50 CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
Common NNP NNP
Cause NNP NNP
asked VBD VBD
both DT PDT
the DT DT
Senate NNP NNP
Ethics NNP NNP
Committee NNP NNP
and CC CC
the DT DT
Justice NNP NNP
Department NNP NNP
to TO TO
investigate VB VB
$ $ $
1 CD CD
million CD CD
in IN IN
political JJ JJ
gifts NNS NNS
by IN IN
Arizona NNP NNP
businessman NN NN
Charles NNP NNP
Keating NNP NNP
to TO TO
five CD CD
U.S. NNP NNP
senators NNS NNS
who WP WP
interceded VBD VBD
with IN IN
thrift-industry NN NN
regulators NNS NNS
for IN IN
him PRP PRP
. . .
<s>
Mr. NNP NNP
Keating NNP NNP
is VBZ VBZ
currently RB RB
the DT DT
subject NN NN
of IN IN
a DT DT
$ $ $
1.1 CD CD
billion CD CD
federal JJ JJ
anti-racketeering JJ JJ
lawsuit NN NN
accusing VBG VBG
him PRP PRP
of IN IN
bleeding VBG VBG
off RP RP
assets NNS NNS
of IN IN
a DT DT
California NNP NNP
thrift NN NN
he PRP PRP
controlled VBD VBD
, , ,
Lincoln NNP NNP
Savings NNP NNP
& CC CC
Loan NNP NNP
Association NNP NNP
, , ,
and CC CC
driving VBG VBG
it PRP PRP
into IN IN
insolvency NN NN
. . .
<s>
Fred NNP NNP
Wertheimer NNP NNP
-- : :
president NN NN
of IN IN
Common NNP NNP
Cause NNP NNP
, , ,
the DT DT
self-styled JJ JJ
citizens NNS NNS
lobby NN NN
-- : :
said VBD VBD
Mr. NNP NNP
Keating NNP NNP
already RB RB
has VBZ VBZ
conceded VBN VBN
attempting VBG VBG
to TO TO
buy VB VB
influence NN NN
with IN IN
the DT DT
lawmakers NNS NNS
-- : :
Democratic JJ NNP
Sens. NNP NNP
Dennis NNP NNP
DeConcini NNP NNP
of IN IN
Arizona NNP NNP
, , ,
Alan NNP NNP
Cranston NNP NNP
of IN IN
California NNP NNP
, , ,
John NNP NNP
Glenn NNP NNP
of IN IN
Ohio NNP NNP
and CC CC
Donald NNP NNP
Riegle NNP NNP
of IN IN
Michigan NNP NNP
; : :
and CC CC
GOP NNP NNP
Sen. NNP NNP
John NNP NNP
McCain NNP NNP
of IN IN
Arizona NNP NNP
. . .
<s>
Mr. NNP NNP
Wertheimer NNP NNP
based VBD VBD
this DT DT
on IN IN
a DT DT
statement NN NN
by IN IN
Mr. NNP NNP
Keating NNP NNP
that WDT WDT
was VBD VBD
quoted VBN VBN
in IN IN
a DT DT
Wall NNP NNP
Street NNP NNP
Journal NNP NNP
story NN NN
in IN IN
April NNP NNP
: : :
`` `` ``
One CD CD
question NN NN
... : :
had VBD VBD
to TO TO
do VB VB
with IN IN
whether IN IN
my PRP$ PRP$
financial JJ JJ
support NN NN
in IN IN
any DT DT
way NN NN
influenced VBD VBD
several JJ JJ
political JJ JJ
figures NNS NNS
to TO TO
take VB VB
up RP RP
my PRP$ PRP$
cause NN NN
. . .
<s>
I PRP PRP
want VBP VBP
to TO TO
say VB VB
in IN IN
the DT DT
most JJS RBS
forceful JJ JJ
way NN NN
I PRP PRP
can MD MD
: : :
I PRP PRP
certainly RB RB
hope VBP VB
so RB RB
. . .
<s>
'' '' ''
In IN IN
a DT DT
highly RB RB
unusual JJ JJ
meeting NN NN
in IN IN
Sen. NNP NNP
DeConcini NNP NNP
's POS POS
office NN NN
in IN IN
April NNP NNP
1987 CD CD
, , ,
the DT DT
five CD CD
senators NNS NNS
asked VBD VBD
federal JJ JJ
regulators NNS NNS
to TO TO
ease VB VB
up RP RP
on IN IN
Lincoln NNP NNP
. . .
<s>
According VBG VBG
to TO TO
notes NNS NNS
taken VBN VBN
by IN IN
one CD CD
of IN IN
the DT DT
participants NNS NNS
at IN IN
the DT DT
meeting NN NN
, , ,
the DT DT
regulators NNS NNS
said VBD VBD
Lincoln NNP NNP
was VBD VBD
gambling VBG VBG
dangerously RB RB
with IN IN
depositors NNS NNS
' POS POS
federally RB RB
insured JJ VBN
money NN NN
and CC CC
was VBD VBD
`` `` ``
a DT DT
ticking VBG VBG
time NN NN
bomb NN NN
. . .
<s>
'' '' ''
Mr. NNP NNP
Keating NNP NNP
had VBD VBD
complained VBN VBN
that IN IN
the DT DT
regulators NNS NNS
were VBD VBD
being VBG VBG
too RB RB
zealous : JJ
. . .
<s>
The DT DT
notes NNS NNS
show VBP VBP
that IN IN
Sen. NNP NNP
DeConcini NNP NNP
called VBD VBD
the DT DT
Federal NNP NNP
Home NNP NNP
Loan NNP NNP
Bank NNP NNP
Board NNP NNP
's POS POS
regulations NNS NNS
`` `` ``
grossly RB RB
unfair JJ JJ
, , ,
'' '' ''
and CC CC
that IN IN
Sen. NNP NNP
Glenn NNP NNP
insisted VBD VBD
that IN IN
Mr. NNP NNP
Keating NNP NNP
's POS POS
thrift NN NN
was VBD VBD
`` `` ``
viable JJ JJ
and CC CC
profitable JJ JJ
. . .
<s>
'' '' ''
For IN IN
the DT DT
next JJ JJ
two CD CD
years NNS NNS
, , ,
the DT DT
Bank NNP NNP
Board NNP NNP
, , ,
which WDT WDT
at IN IN
the DT DT
time NN NN
was VBD VBD
the DT DT
agency NN NN
responsible JJ JJ
for IN IN
regulating VBG VBG
thrifts NNS NNS
, , ,
failed VBD VBD
to TO TO
act VB VB
-- : :
even RB RB
after IN IN
federal JJ JJ
auditors NNS NNS
warned VBN VBD
in IN IN
May NNP NNP
1987 CD CD
that IN IN
Mr. NNP NNP
Keating NNP NNP
had VBD VBD
caused VBN VBN
Lincoln NNP NNP
to TO TO
become VB VB
insolvent JJ JJ
. . .
<s>
Lincoln NNP NNP
's POS POS
parent NN NN
company NN NN
, , ,
American NNP NNP
Continental NNP NNP
Corp. NNP NNP
, , ,
entered VBD VBD
bankruptcy-law NN NN
proceedings NNS NNS
this DT DT
April NNP NNP
13 CD CD
, , ,
and CC CC
regulators NNS NNS
seized VBD VBD
the DT DT
thrift NN NN
the DT DT
next JJ JJ
day NN NN
. . .
<s>
The DT DT
newly RB RB
formed VBN VBN
Resolution NNP NNP
Trust NNP NNP
Corp. NNP NNP
, , ,
successor NN NN
to TO TO
the DT DT
Bank NNP NNP
Board NNP NNP
, , ,
filed VBD VBD
suit NN NN
against IN IN
Mr. NNP NNP
Keating NNP NNP
and CC CC
several JJ JJ
others NNS NNS
on IN IN
Sept. NNP NNP
15 CD CD
. . .
<s>
Mr. NNP NNP
Keating NNP NNP
has VBZ VBZ
filed VBN VBN
his PRP$ PRP$
own JJ JJ
suit NN NN
, , ,
alleging VBG VBG
that IN IN
his PRP$ PRP$
property NN NN
was VBD VBD
taken VBN VBN
illegally RB RB
. . .
<s>
The DT DT
cost NN NN
to TO TO
taxpayers NNS NNS
of IN IN
Lincoln NNP NNP
's POS POS
collapse NN NN
has VBZ VBZ
been VBN VBN
estimated VBN VBN
at IN IN
as RB RB
much JJ JJ
as IN IN
$ $ $
2.5 CD CD
billion CD CD
. . .
<s>
Details NNS NNS
of IN IN
the DT DT
affair NN NN
have VBP VBP
become VBN VBN
public JJ JJ
gradually RB RB
over IN IN
the DT DT
past JJ JJ
two CD CD
years NNS NNS
, , ,
mostly RB RB
as IN IN
a DT DT
result NN NN
of IN IN
reporting NN VBG
by IN IN
several JJ JJ
newspapers NNS NNS
. . .
<s>
In IN IN
the DT DT
midst NN NN
of IN IN
his PRP$ PRP$
1988 CD CD
re-election NN NN
campaign NN NN
, , ,
Sen. NNP NNP
Riegle NNP NNP
, , ,
chairman NN NN
of IN IN
the DT DT
Senate NNP NNP
Banking NNP NNP
Committee NNP NNP
, , ,
returned VBD VBD
$ $ $
76,000 CD CD
in IN IN
contributions NNS NNS
after IN IN
a DT DT
Detroit NNP NNP
newspaper NN NN
said VBD VBD
that IN IN
Mr. NNP NNP
Keating NNP NNP
had VBD VBD
gathered VBN VBN
the DT DT
money NN NN
for IN IN
him PRP PRP
about IN IN
two CD CD
weeks NNS NNS
before IN IN
the DT DT
meeting NN NN
with IN IN
regulators NNS NNS
. . .
<s>
Sen. NNP NNP
DeConcini NNP NNP
, , ,
after IN IN
months NNS NNS
of IN IN
fending VBG VBG
off RP RP
intense JJ JJ
press NN NN
criticism NN NN
, , ,
returned VBD VBD
$ $ $
48,000 CD CD
only RB JJ
last JJ JJ
month NN NN
, , ,
shortly RB RB
after IN IN
the DT DT
government NN NN
formally RB RB
accused VBD VBD
Mr. NNP NNP
Keating NNP NNP
of IN IN
defrauding VBG VBG
Lincoln NNP NNP
. . .
<s>
In IN IN
addition NN NN
, , ,
Sen. NNP NNP
McCain NNP NNP
last JJ JJ
week NN NN
disclosed VBD VBD
that IN IN
he PRP PRP
belatedly RB RB
had VBD VBD
paid VBN VBN
$ $ $
13,433 CD CD
to TO TO
American NNP NNP
Continental NNP NNP
as IN IN
reimbursement NN NN
for IN IN
trips NNS NNS
he PRP PRP
and CC CC
his PRP$ PRP$
family NN NN
took VBD VBD
aboard IN IN
the DT DT
corporate JJ JJ
jet NN NN
to TO TO
Mr. NNP NNP
Keating NNP NNP
's POS POS
vacation NN NN
home NN NN
at IN IN
Cat NNP NNP
Cay NNP NNP
, , ,
the DT DT
Bahamas NNPS NNPS
, , ,
from IN IN
1984 CD CD
through IN IN
1986 CD CD
. . .
<s>
Sen. NNP NNP
McCain NNP NNP
said VBD VBD
he PRP PRP
had VBD VBD
meant VBN VBN
to TO TO
pay VB VB
for IN IN
the DT DT
trips NNS NNS
at IN IN
the DT DT
time NN NN
but CC CC
that IN IN
the DT DT
matter NN NN
`` `` ``
fell VBD VBD
between IN IN
the DT DT
cracks NNS NNS
. . .
<s>
'' '' ''
Mr. NNP NNP
Keating NNP NNP
, , ,
his PRP$ PRP$
family NN NN
members NNS NNS
and CC CC
associates NNS NNS
also RB RB
donated VBD VBD
$ $ $
112,000 CD CD
to TO TO
Sen. NNP NNP
McCain NNP NNP
's POS POS
congressional JJ JJ
campaigns NNS NNS
over IN IN
the DT DT
years NNS NNS
, , ,
according VBG VBG
to TO TO
press NN NN
accounts NNS NNS
. . .
<s>
But CC CC
Sen. NNP NNP
McCain NNP NNP
says VBZ VBZ
Mr. NNP NNP
Keating NNP NNP
broke VBD VBD
off RP RP
their PRP$ PRP$
friendship NN NN
abruptly RB RB
in IN IN
1987 CD CD
, , ,
because IN IN
the DT DT
senator NN NN
refused VBD VBD
to TO TO
press VB VB
the DT DT
thrift NN NN
executive NN NN
's POS POS
case NN NN
as RB RB
vigorously RB RB
as IN IN
Mr. NNP NNP
Keating NNP NNP
wanted VBD VBD
. . .
<s>
`` `` ``
He PRP PRP
became VBD VBD
very RB RB
angry JJ JJ
at IN IN
that DT DT
, , ,
left VBD VBD
my PRP$ PRP$
office NN NN
and CC CC
told VBD VBD
a DT DT
number NN NN
of IN IN
people NNS NNS
that IN IN
I PRP PRP
was VBD VBD
a DT DT
wimp VB NN
, , ,
'' '' ''
Sen. NNP NNP
McCain NNP NNP
recalls VBZ VBZ
. . .
<s>
In IN IN
July NNP NNP
, , ,
California NNP NNP
newspapers NNS NNS
disclosed VBD VBD
that IN IN
Mr. NNP NNP
Keating NNP NNP
gave VBD VBD
$ $ $
850,000 CD CD
in IN IN
corporate JJ JJ
funds NNS NNS
to TO TO
three CD CD
tax-exempt JJ JJ
voter NN NN
registration NN NN
organizations NNS NNS
in IN IN
1987 CD CD
and CC CC
1988 CD CD
at IN IN
the DT DT
behest NN NN
of IN IN
Sen. NNP NNP
Cranston NNP NNP
, , ,
who WP WP
conceded VBD VBD
that IN IN
soliciting VBG VBG
the DT DT
money NN NN
was VBD VBD
`` `` ``
a DT DT
pretty RB RB
stupid JJ JJ
thing NN NN
to TO TO
do VB VB
politically RB RB
. . .
<s>
'' '' ''
In IN IN
addition NN NN
, , ,
Sen. NNP NNP
Cranston NNP NNP
received VBD VBD
$ $ $
47,000 CD CD
in IN IN
campaign NN NN
donations NNS NNS
through IN IN
Mr. NNP NNP
Keating NNP NNP
, , ,
and CC CC
the DT DT
California NNP NNP
Democratic JJ NNP
party NN NN
received VBD VBD
$ $ $
85,000 CD CD
in IN IN
corporate JJ JJ
donations NNS NNS
for IN IN
a DT DT
1986 CD CD
get-out-the-vote JJ JJ
drive NN NN
that WDT WDT
benefited VBD VBD
the DT DT
senator NN NN
's POS POS
re-election NN NN
campaign NN NN
that DT DT
year NN NN
. . .
<s>
Also RB RB
in IN IN
July NNP NNP
, , ,
Ohio NNP NNP
newspapers NNS NNS
disclosed VBD VBD
$ $ $
200,000 CD CD
in IN IN
corporate JJ JJ
donations NNS NNS
by IN IN
Mr. NNP NNP
Keating NNP NNP
to TO TO
the DT DT
National NNP NNP
Council NNP NNP
on IN IN
Public NNP NNP
Policy NNP NNP
, , ,
a DT DT
political JJ JJ
committee NN NN
controlled VBN VBN
by IN IN
Sen. NNP NNP
Glenn NNP NNP
. . .
<s>
That DT DT
was VBD VBD
in IN IN
addition NN NN
to TO TO
$ $ $
34,000 CD CD
in IN IN
direct JJ JJ
campaign NN NN
donations NNS NNS
arranged VBN VBN
by IN IN
Mr. NNP NNP
Keating NNP NNP
to TO TO
the DT DT
Ohio NNP NNP
senator NN NN
. . .
<s>
Mr. NNP NNP
Wertheimer NNP NNP
said VBD VBD
the DT DT
Senate NNP NNP
Ethics NNP NNP
Committee NNP NNP
should MD MD
hire VB VB
a DT DT
special JJ JJ
outside JJ JJ
counsel NN NN
to TO TO
conduct VB VB
an DT DT
investigation NN NN
, , ,
as IN IN
was VBD VBD
done VBN VBN
in IN IN
the DT DT
case NN NN
of IN IN
former JJ JJ
House NNP NNP
Speaker NNP NNP
James NNP NNP
Wright NNP NNP
. . .
<s>
Wilson NNP NNP
Abney NNP NNP
, , ,
staff NN NN
director NN NN
of IN IN
the DT DT
ethics NNS NNS
panel NN NN
, , ,
would MD MD
n't RB RB
comment VB VB
. . .
<s>
Sen. NNP NNP
Riegle NNP NNP
said VBD VBD
he PRP PRP
would MD MD
cooperate VB VB
with IN IN
any DT DT
inquiry NN NN
, , ,
but CC CC
that IN IN
his PRP$ PRP$
conduct NN NN
had VBD VBD
been VBN VBN
`` `` ``
entirely RB RB
proper JJ JJ
. . .
<s>
'' '' ''
Sen. NNP NNP
McCain NNP NNP
said VBD VBD
he PRP PRP
had VBD VBD
been VBN VBN
`` `` ``
deeply RB RB
concerned VBN VBN
'' '' ''
at IN IN
the DT DT
time NN NN
of IN IN
the DT DT
meeting NN NN
that IN IN
it PRP PRP
might MD MD
seem VB VB
to TO TO
be VB VB
improper JJ JJ
, , ,
but CC CC
decided VBD VBD
it PRP PRP
was VBD VBD
`` `` ``
entirely RB RB
appropriate JJ JJ
'' '' ''
for IN IN
him PRP PRP
to TO TO
seek VB VB
fair JJ JJ
treatment NN NN
for IN IN
a DT DT
constituent NN NN
. . .
<s>
Sen. NNP NNP
Glenn NNP NNP
said VBD VBD
he PRP PRP
had VBD VBD
already RB RB
made VBN VBN
a DT DT
complete JJ JJ
disclosure NN NN
of IN IN
his PRP$ PRP$
role NN NN
in IN IN
the DT DT
affair NN NN
and CC CC
`` `` ``
I PRP PRP
am VBP VBP
completely RB RB
satisfied VBN VBN
to TO TO
let VB VB
this DT DT
matter NN NN
rest NN NN
in IN IN
the DT DT
hands NNS NNS
of IN IN
the DT DT
Senate NNP NNP
Ethics NNP NNP
Committee NNP NNP
. . .
<s>
'' '' ''
Sen. NNP NNP
DeConcini NNP NNP
said VBD VBD
, , ,
`` `` ``
When WRB WRB
all DT DT
is VBZ VBZ
said VBN VBD
and CC CC
done VBN VBN
, , ,
I PRP PRP
expect VBP VBP
to TO TO
be VB VB
fully RB RB
exonerated VBD VBN
. . .
<s>
'' '' ''
Sen. NNP NNP
Cranston NNP NNP
, , ,
who WP WP
had VBD VBD
already RB RB
volunteered VBD VBN
his PRP$ PRP$
help NN NN
to TO TO
the DT DT
Federal NNP NNP
Bureau NNP NNP
of IN IN
Investigation NNP NNP
in IN IN
any DT DT
investigation NN NN
of IN IN
Mr. NNP NNP
Keating NNP NNP
, , ,
portrayed VBD VBD
his PRP$ PRP$
role NN NN
in IN IN
1987 CD CD
as IN IN
prodding NN VBG
regulators NNS NNS
to TO TO
act VB VB
. . .
<s>
`` `` ``
Why WRB WRB
did VBD VBD
n't RB RB
the DT DT
Bank NNP NNP
Board NNP NNP
act NN VB
sooner RBR RBR
? . .
<s>
'' '' ''
he PRP PRP
said VBD VBD
. . .
<s>
`` `` ``
That DT DT
is VBZ VBZ
what WP WP
Common NNP NNP
Cause NNP NNP
should MD MD
ask VB VB
be VB VB
investigated VBN VBN
. . .
<s>
Trinity NNP NNP
Industries NNPS NNPS
Inc. NNP NNP
said VBD VBD
it PRP PRP
reached VBD VBD
a DT DT
preliminary JJ JJ
agreement NN NN
to TO TO
manufacture VB VB
1,000 CD CD
coal NN NN
rail NN NN
cars NNS NNS
for IN IN
Norfolk NNP NNP
Southern NNP NNP
Corp NNP NNP
. . .
<s>
Trinity NNP NNP
estimated VBD VBD
the DT DT
value NN NN
of IN IN
the DT DT
pact NN NN
at IN IN
more JJR RBR
than IN IN
$ $ $
40 CD CD
million CD CD
. . .
<s>
Trinity NNP NNP
said VBD VBD
it PRP PRP
plans VBZ VBZ
to TO TO
begin VB VB
delivery NN NN
of IN IN
the DT DT
rail NN NN
cars NNS NNS
in IN IN
the DT DT
first JJ JJ
quarter NN NN
of IN IN
1990 CD CD
. . .
<s>
It PRP PRP
said VBD VBD
the DT DT
1,000 CD CD
rail NN NN
cars NNS NNS
are VBP VBP
in IN IN
addition NN NN
to TO TO
the DT DT
1,450 CD CD
coal NN NN
rail NN NN
cars NNS NNS
presently RB RB
being VBG VBG
produced VBN VBN
for IN IN
Norfolk NNP NNP
Southern NNP NNP
, , ,
a DT DT
Norfolk NNP NNP
, , ,
Va.-based JJ JJ
railroad NN NN
concern NN NN
. . .
<s>
When WRB WRB
China NNP NNP
opened VBD VBD
its PRP$ PRP$
doors NNS NNS
to TO TO
foreign JJ JJ
investors NNS NNS
in IN IN
1979 CD CD
, , ,
toy NN JJ
makers NNS NNS
from IN IN
Hong NNP NNP
Kong NNP NNP
were VBD VBD
among IN IN
the DT DT
first JJ JJ
to TO TO
march VB VB
in IN IN
. . .
<s>
Today NN NN
, , ,
with IN IN
about RB IN
75 CD CD
% NN NN
of IN IN
the DT DT
companies NNS NNS
' POS POS
products NNS NNS
being VBG VBG
made VBN VBN
in IN IN
China NNP NNP
, , ,
the DT DT
chairman NN NN
of IN IN
the DT DT
Hong NNP NNP
Kong NNP NNP
Toys NNPS NNPS
Council NNP NNP
, , ,
Dennis NNP NNP
Ting NNP NNP
, , ,
has VBZ VBZ
suggested VBN VBN
a DT DT
new JJ JJ
sourcing VBG VBG
label NN NN
: : :
`` `` ``
Made NNP VBN
in IN IN
China NNP NNP
by IN IN
Hong NNP NNP
Kong NNP NNP
Companies NNPS NNPS
. . .
<s>
'' '' ''
The DT DT
toy NN NN
makers NNS NNS
were VBD VBD
pushed VBN VBN
across IN IN
the DT DT
border NN NN
by IN IN
rising VBG VBG
labor NN NN
and CC CC
land NN NN
costs NNS NNS
in IN IN
the DT DT
British JJ JJ
colony NN NN
. . .
<s>
But CC CC
in IN IN
the DT DT
wake NN NN
of IN IN
the DT DT
shootings NNS NNS
in IN IN
Beijing NNP NNP
on IN IN
June NNP NNP
4 CD CD
, , ,
the DT DT
Hong NNP NNP
Kong NNP NNP
toy NN NN
industry NN NN
is VBZ VBZ
worrying VBG VBG
about IN IN
its PRP$ PRP$
strong JJ JJ
dependence NN NN
on IN IN
China NNP NNP
. . .
<s>
Although IN IN
the DT DT
manufacturers NNS NNS
stress VBP VBP
that DT IN
production NN NN
has VBZ VBZ
n't RB RB
been VBN VBN
affected VBN VBN
by IN IN
China NNP NNP
's POS POS
political JJ JJ
turmoil NN NN
, , ,
they PRP PRP
are VBP VBP
looking VBG VBG
for IN IN
additional JJ JJ
sites NNS NNS
. . .
<s>
The DT DT
toy NN NN
makers NNS NNS
, , ,
and CC CC
their PRP$ PRP$
foreign JJ JJ
buyers NNS NNS
, , ,
cite VBP VBP
uncertainty NN NN
about IN IN
China NNP NNP
's POS POS
economic JJ JJ
and CC CC
political JJ JJ
policies NNS NNS
. . .
<s>
`` `` ``
Nobody NN NN
wants VBZ VBZ
to TO TO
have VB VB
all PDT PDT
his PRP$ PRP$
eggs NNS NNS
in IN IN
one CD CD
basket NN NN
, , ,
'' '' ''
says VBZ VBZ
David NNP NNP
Yeh NNP NNP
, , ,
chairman NN NN
and CC CC
chief JJ NN
executive JJ JJ
officer NN NN
of IN IN
International NNP NNP
Matchbox NNP NNP
Group NNP NNP
Ltd NNP NNP
. . .
<s>
Indeed RB RB
, , ,
Matchbox NNP NNP
and CC CC
other JJ JJ
leading VBG VBG
Hong NNP NNP
Kong NNP NNP
toy NN NN
makers NNS NNS
were VBD VBD
setting VBG VBG
up RP RP
factories NNS NNS
in IN IN
Southeast NNP NNP
Asia NNP NNP
, , ,
especially RB RB
in IN IN
Thailand NNP NNP
, , ,
long RB RB
before IN IN
the DT DT
massacre NN NN
. . .
<s>
Their PRP$ PRP$
steps NNS NNS
were VBD VBD
partly RB RB
prompted VBN VBN
by IN IN
concern NN NN
over IN IN
a DT DT
deterioration NN NN
of IN IN
business NN NN
conditions NNS NNS
in IN IN
southern JJ JJ
China NNP NNP
. . .
<s>
By IN IN
diversifying VBG VBG
supply NN NN
sources NNS NNS
, , ,
the DT DT
toy NN JJ
makers NNS NNS
do VBP VBP
n't RB RB
intend VB VB
to TO TO
withdraw VB VB
from IN IN
China NNP NNP
, , ,
manufacturers NNS NNS
and CC CC
foreign JJ JJ
buyers NNS NNS
say VBP VBP
. . .
<s>
It PRP PRP
would MD MD
n't RB RB
be VB VB
easy JJ JJ
to TO TO
duplicate VB VB
quickly RB RB
the DT DT
manufacturing NN VBG
capacity NN NN
built VBD VBN
up RP RP
in IN IN
southern JJ JJ
China NNP NNP
during IN IN
the DT DT
past JJ JJ
decade NN NN
. . .
<s>
A DT DT
supply NN NN
of IN IN
cheap JJ JJ
labor NN NN
and CC CC
the DT DT
access NN NN
to TO TO
Hong NNP NNP
Kong NNP NNP
's POS POS
port NN NN
, , ,
airport NN NN
, , ,
banks NNS NNS
and CC CC
support NN NN
industries NNS NNS
, , ,
such JJ JJ
as IN IN
printing NN NN
companies NNS NNS
, , ,
have VBP VBP
made VBN VBN
China NNP NNP
's POS POS
Guangdong NNP NNP
province NN NN
a DT DT
premier JJR NN
manufacturing NN NN
site NN NN
. . .
<s>
`` `` ``
South NNP NNP
China NNP NNP
is VBZ VBZ
the DT DT
most RBS RBS
competitive JJ JJ
source NN NN
of IN IN
toys NNS NNS
in IN IN
the DT DT
world NN NN
, , ,
'' '' ''
says VBZ VBZ
Henry NNP NNP
Hu NNP NNP
, , ,
executive JJ JJ
director NN NN
of IN IN
Wah NNP NNP
Shing NNP NNP
Toys NNP NNPS
Consolidated NNP NNP
Ltd NNP NNP
. . .
<s>
Hong NNP NNP
Kong NNP NNP
trade NN NN
figures NNS NNS
illustrate VBP VBP
the DT DT
toy NN JJ
makers NNS NNS
' POS POS
reliance NN NN
on IN IN
factories NNS NNS
across IN IN
the DT DT
border NN NN
. . .
<s>
In IN IN
1988 CD CD
, , ,
exports NNS NNS
of IN IN
domestically RB RB
produced VBN VBN
toys NNS NNS
and CC CC
games NNS NNS
fell VBD VBD
19 CD CD
% NN NN
from IN IN
1987 CD CD
, , ,
to TO TO
HK$ $ $
10.05 CD CD
billion CD CD
( ( (
US$ $ $
1.29 CD CD
billion CD CD
) ) )
. . .
<s>
But CC CC
re-exports NNS NNS
, , ,
mainly RB RB
from IN IN
China NNP NNP
, , ,
jumped VBD VBD
75 CD CD
% NN NN
, , ,
to TO TO
HK$ $ $
15.92 CD CD
billion CD CD
. . .
<s>
In IN IN
1989 CD CD
's POS POS
first JJ JJ
seven CD CD
months NNS NNS
, , ,
domestic JJ JJ
exports NNS NNS
fell VBD VBD
29 CD CD
% NN NN
, , ,
to TO TO
HK$ $ $
3.87 CD CD
billion CD CD
, , ,
while IN IN
re-exports NNS NNS
rose VBD VBD
56 CD CD
% NN NN
, , ,
to TO TO
HK$ $ $
11.28 CD CD
billion CD CD
. . .
<s>
Manufacturers NNS NNS
say VBP VBP
there EX EX
is VBZ VBZ
no DT DT
immediate JJ JJ
substitute NN NN
for IN IN
southern JJ JJ
China NNP NNP
, , ,
where WRB WRB
an DT DT
estimated VBN VBN
120,000 CD CD
people NNS NNS
are VBP VBP
employed VBN VBN
by IN IN
the DT DT
toy NN NN
industry NN NN
. . .
<s>
`` `` ``
For IN IN
the DT DT
next JJ JJ
few JJ JJ
years NNS NNS
, , ,
like IN IN
it PRP PRP
or CC CC
not RB RB
, , ,
China NNP NNP
is VBZ VBZ
going VBG VBG
to TO TO
be VB VB
the DT DT
main JJ JJ
supplier NN NN
, , ,
'' '' ''
says VBZ VBZ
Edmund NNP NNP
Young NNP NNP
, , ,
vice NN NN
president NN NN
of IN IN
Perfecta NNP NNP
Enterprises NNP NNPS
Ltd. NNP NNP
, , ,
one CD CD
of IN IN
the DT DT
first JJ JJ
big JJ JJ
Hong NNP NNP
Kong NNP NNP
toy NN NN
makers NNS NNS
to TO TO
move VB VB
across IN IN
the DT DT
border NN NN
. . .
<s>
In IN IN
the DT DT
meantime NN NN
, , ,
as IN IN
manufacturers NNS NNS
and CC CC
buyers NNS NNS
seek VBP VBP
new JJ JJ
sites NNS NNS
, , ,
they PRP PRP
are VBP VBP
focusing VBG VBG
mainly RB RB
on IN IN
Southeast NNP NNP
Asia NNP NNP
. . .
<s>
Several JJ JJ
big JJ JJ
companies NNS NNS
have VBP VBP
established VBN VBN
manufacturing VBG VBG
joint JJ JJ
ventures NNS NNS
in IN IN
Thailand NNP NNP
, , ,
including VBG VBG
Matchbox NNP NNP
, , ,
Wah NNP NNP
Shing NNP NNP
and CC CC
Kader NNP NNP
Industrial NNP NNP
Co. NNP NNP
, , ,
the DT DT
toy NN NN
manufacturer NN NN
headed VBN VBN
by IN IN
Mr. NNP NNP
Ting NNP NNP
. . .
<s>
Malaysia NN NNP
, , ,
the DT DT
Philippines NNPS NNP
and CC CC
Indonesia NNP NNP
also RB RB
are VBP VBP
being VBG VBG
studied VBN VBN
. . .
<s>
With IN IN
the DT DT
European NNP NNP
Community NNP NNP
set VBD VBD
to TO TO
remove VB VB
its PRP$ PRP$
internal JJ JJ
trade NN NN
barriers NNS NNS
in IN IN
1992 CD CD
, , ,
several JJ JJ
Hong NNP NNP
Kong NNP NNP
companies NNS NNS
are VBP VBP
beginning VBG VBG
to TO TO
consider VB VB
Spain NNP NNP
, , ,
Portugal NNP NNP
and CC CC
Greece NNP NNP
as IN IN
possible JJ JJ
manufacturing NN VBG
sites NNS NNS
. . .
<s>
Worries NNS NNS
about IN IN
China NNP NNP
came VBD VBD
just RB RB
as IN IN
Hong NNP NNP
Kong NNP NNP
's POS POS
toy NN NN
industry NN NN
was VBD VBD
recovering VBG VBG
from IN IN
a DT DT
1987 CD CD
sales NNS NNS
slump NN NN
and CC CC
bankruptcy NN NN
filings NNS NNS
by IN IN
two CD CD
major JJ JJ
U.S. NNP NNP
companies NNS NNS
, , ,
Worlds : NNPS
of IN IN
Wonder NNP NNP
Inc. NNP NNP
and CC CC
Coleco NNP NNP
Industries NNPS NNPS
Inc NNP NNP
. . .
<s>
Hong NNP NNP
Kong NNP NNP
manufacturers NNS NNS
say VBP VBP
large JJ JJ
debt NN NN
writeoffs NNS NNS
and CC CC
other JJ JJ
financial JJ JJ
problems NNS NNS
resulting VBG VBG
from IN IN
the DT DT
1987 CD CD
difficulties NNS NNS
chastened VBD VBD
the DT DT
local JJ JJ
industry NN NN
, , ,
causing VBG VBG
it PRP PRP
to TO TO
tighten VB VB
credit NN NN
policies NNS NNS
and CC CC
financial JJ JJ
management NN NN
. . .
<s>
The DT DT
industry NN NN
regards VBZ VBZ
last JJ JJ
year NN NN
and CC CC
this DT DT
year NN NN
as IN IN
a DT DT
period NN NN
of IN IN
recovery NN NN
that WDT WDT
will MD MD
lead VB VB
to TO TO
improved VBN VBN
results NNS NNS
. . .
<s>
Still RB RB
, , ,
they PRP PRP
long RB VBP
for IN IN
a DT DT
`` `` ``
mega-hit NN JJ
'' '' ''
toy NN NN
to TO TO
excite VB VB
retail JJ JJ
sales NNS NNS
in IN IN
the DT DT
U.S. NNP NNP
, , ,
Hong NNP NNP
Kong NNP NNP
's POS POS
biggest JJS JJS
market NN NN
for IN IN
toys NNS NNS
and CC CC
games NNS NNS
. . .
<s>
The DT DT
closest JJS JJS
thing NN NN
the DT DT
colony NN NN
's POS POS
companies NNS NNS
have VBP VBP
to TO TO
a DT DT
U.S. NNP NNP
mega-hit NN NN
this DT DT
year NN NN
is VBZ VBZ
the DT DT
Teenage NNP NNP
Mutant NNP NNP
Ninja NNP NNP
Turtles NNP NNPS
series NN NN
of IN IN
action NN NN
figures NNS NNS
manufactured VBN VBN
by IN IN
Playmates NNP NNPS
Holdings NNPS NNP
Ltd NNP NNP
. . .
<s>
Introduced VBN VBN
in IN IN
mid-1988 : CD
, , ,
the DT DT
15-centimeter-tall JJ JJ
plastic NN NN
turtles NNS NNS
are VBP VBP
based VBN VBN
on IN IN
an DT DT
American JJ JJ
comic JJ JJ
book NN NN
and CC CC
television NN NN
series NN NN
. . .
<s>
Paul NNP NNP
Kwan NNP NNP
, , ,
managing VBG VBG
director NN NN
of IN IN
Playmates NNS NNPS
, , ,
says VBZ VBZ
10 CD CD
million CD CD
Ninja NNP NNP
Turtles : NNPS
have VBP VBP
been VBN VBN
sold VBN VBN
, , ,
placing VBG VBG
the DT DT
reptilian JJ JJ
warriors NNS NNS
among IN IN
the DT DT
10 CD CD
biggest-selling JJ JJ
toys NNS NNS
in IN IN
the DT DT
U.S. NNP NNP
. . .
<s>
Should MD MD
sales NNS NNS
continue VBP VB
to TO TO
be VB VB
strong JJ JJ
through IN IN
the DT DT
Christmas NNP NNP
season NN NN
, , ,
which WDT WDT
accounts VBZ VBZ
for IN IN
about RB IN
60 CD CD
% NN NN
of IN IN
U.S. NNP NNP
retail JJ JJ
toy NN NN
sales NNS NNS
, , ,
Mr. NNP NNP
Kwan NNP NNP
said VBD VBD
the DT DT
Ninja NNP NNP
Turtles NNPS NNPS
could MD MD
make VB VB
1989 CD CD
a DT DT
record NN NN
sales NNS NNS
year NN NN
for IN IN
Playmates : NNPS
. . .
<s>
Other JJ JJ
Hong NNP NNP
Kong NNP NNP
manufacturers NNS NNS
expect VBP VBP
their PRP$ PRP$
results NNS NNS
to TO TO
improve VB VB
only RB RB
slightly RB RB
this DT DT
year NN NN
from IN IN
1988 CD CD
. . .
<s>
Besides IN IN
the DT DT
lack NN NN
of IN IN
a DT DT
fast-selling JJ JJ
product NN NN
, , ,
they PRP PRP
cite VBP VBP
the DT DT
continued JJ VBN
dominance NN NN
of IN IN
the DT DT
U.S. NNP NNP
market NN NN
by IN IN
Nintendo NNP NNP
Entertainment NNP NNP
System NNP NNP
, , ,
an DT DT
expensive JJ JJ
video NN NN
game NN NN
made VBN VBN
by IN IN
Nintendo NNP NNP
Co. NNP NNP
of IN IN
Japan NNP NNP
. . .
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Nintendo NNP NNP
buyers NNS NNS
have VBP VBP
little JJ JJ
money NN NN
left VBN VBN
to TO TO
spend VB VB
on IN IN
other JJ JJ
products NNS NNS
. . .
<s>
Many JJ JJ
of IN IN
the DT DT
toy NN JJ
makers NNS NNS
' POS POS
problems NNS NNS
started VBD VBD
well RB RB
before IN IN
June NNP NNP
4 CD CD
as IN IN
a DT DT
result NN NN
of IN IN
overstrained JJ VBN
infrastructure NN NN
and CC CC
Beijing NNP NNP
's POS POS
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programs NNS NNS
launched VBD VBN
late RB JJ
last JJ JJ
year NN NN
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makers NNS NNS
complain VBP VBP
that DT DT
electricity NN NN
in IN IN
Guangdong NNP NNP
has VBZ VBZ
been VBN VBN
provided VBN VBN
only RB RB
three CD CD
days NNS NNS
a DT DT
week NN NN
in IN IN
recent JJ JJ
months NNS NNS
, , ,
down RB IN
from IN IN
five CD CD
days NNS NNS
a DT DT
week NN NN
, , ,
as IN IN
the DT DT
province NN NN
's POS POS
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industrialization NN NN
has VBZ VBZ
outstripped VBN VBN
its PRP$ PRP$
generating NN NN
capacity NN NN
. . .
<s>
Manufacturers NNS NNS
are VBP VBP
upgrading VBG VBG
standby JJ JJ
power NN NN
plants NNS NNS
. . .
<s>
Bank NNP NN
credit NN NN
for IN IN
China NNP NNP
investments NNS NNS
all DT DT
but CC CC
dried VBD VBD
up RP RP
following VBG VBG
June NNP NNP
4 CD CD
. . .
<s>
Also RB RB
, , ,
concern NN NN
exists VBZ VBZ
that IN IN
the DT DT
harder-line JJ JJ
Beijing NNP NNP
leadership NN NN
will MD MD
tighten VB VB
its PRP$ PRP$
control NN NN
of IN IN
Guangdong NNP NNP
, , ,
which WDT WDT
has VBZ VBZ
been VBN VBN
the DT DT
main JJ JJ
laboratory NN NN
for IN IN
the DT DT
open-door JJ NN
policy NN NN
and CC CC
economic JJ JJ
reforms NNS NNS
. . .
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But CC CC
, , ,
toy NN JJ
manufacturers NNS NNS
and CC CC
other JJ JJ
industrialists NNS NNS
say VBP VBP
Beijing NNP NNP
will MD MD
be VB VB
restrained VBN VBN
from IN IN
tightening VBG VBG
controls NNS NNS
on IN IN
export-oriented JJ JJ
southern JJ JJ
China NNP NNP
. . .
<s>
They PRP PRP
say VBP VBP
China NNP NNP
's POS POS
trade NN NN
deficit NN NN
is VBZ VBZ
widening VBG VBG
and CC CC
the DT DT
country NN NN
is VBZ VBZ
too RB RB
short JJ JJ
of IN IN
foreign JJ JJ
exchange NN NN
for IN IN
it PRP PRP
to TO TO
hamper VB VB
production NN NN
in IN IN
Guangdong NNP NNP
. . .
<s>
`` `` ``
The DT DT
Chinese JJ JJ
leaders NNS NNS
have VBP VBP
to TO TO
decide VB VB
whether IN IN
they PRP PRP
want VBP VBP
control NN NN
or CC CC
whether IN IN
the DT DT
want NN NN
exports NNS NNS
, , ,
'' '' ''
says VBZ VBZ
Mr. NNP NNP
Kwan NNP NNP
of IN IN
Playmates : NNPS
. . .
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The DT DT
Bush NNP NNP
administration NN NN
, , ,
urging VBG VBG
the DT DT
Supreme NNP NNP
Court NNP NNP
to TO TO
give VB VB
states NNS NNS
more JJR JJR
leeway NN NN
to TO TO
restrict VB VB
abortions NNS NNS
, , ,
said VBD VBD
minors NNS NNS
have VBP VBP
n't RB RB
any DT DT
right NN NN
to TO TO
abortion NN NN
without IN IN
the DT DT
consent NN NN
of IN IN
their PRP$ PRP$
parents NNS NNS
. . .
<s>
Solicitor NNP NNP
General NNP NNP
Kenneth NNP NNP
Starr NNP NNP
argued VBD VBD
that IN IN
the DT DT
1973 CD CD
Supreme NNP NNP
Court NNP NNP
decision NN NN
, , ,
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vs. FW CC
Wade NNP NNP
, , ,
recognizing VBG VBG
a DT DT
constitutional JJ JJ
right NN NN
to TO TO
abortion NN NN
, , ,
was VBD VBD
incorrect JJ JJ
. . .
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He PRP PRP
also RB RB
argued VBD VBD
that IN IN
the DT DT
high JJ JJ
court NN NN
was VBD VBD
wrong JJ JJ
in IN IN
1976 CD CD
to TO TO
rule VB VB
that IN IN
minors NNS NNS
have VBP VBP
a DT DT
right NN NN
to TO TO
abortion NN NN
that WDT WDT
ca MD MD
n't RB RB
be VB VB
absolutely RB RB
vetoed VBN VBN
by IN IN
their PRP$ PRP$
parents NNS NNS
. . .
<s>
The DT DT
administration NN NN
's POS POS
position NN NN
was VBD VBD
outlined VBN VBN
in IN IN
a DT DT
friend-of-the-court JJ JJ
brief NN NN
filed VBN VBN
in IN IN
one CD CD
of IN IN
three CD CD
abortion NN NN
cases NNS VBZ
the DT DT
Supreme NNP NNP
Court NNP NNP
will MD MD
hear VB VB
argued VBN VBN
and CC CC
will MD MD
decide VB VB
this DT DT
term NN NN
. . .
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The DT DT
administration NN NN
filed VBD VBD
the DT DT
brief NN NN
in IN IN
an DT DT
appeal NN NN
involving VBG VBG
a DT DT
Minnesota NNP NNP
law NN NN
that WDT WDT
requires VBZ VBZ
that IN IN
both DT DT
parents NNS NNS
of IN IN
a DT DT
minor JJ NN
be VB VB
notified VBN VBN
before IN IN
she PRP PRP
may MD MD
have VB VB
an DT DT
abortion NN NN
. . .
<s>
The DT DT
administration NN NN
urged VBD VBD
the DT DT
justices NNS NNS
to TO TO
adopt VB VB
a DT DT
legal JJ JJ
standard NN NN
suggested VBN VBN
by IN IN
Chief NNP NNP
Justice NNP NNP
William NNP NNP
Rehnquist NNP NNP
last JJ JJ
July NNP NNP
when WRB WRB
the DT DT
high JJ JJ
court NN NN
upheld VBD VBD
Missouri NNP NNP
's POS POS
abortion NN NN
restrictions NNS NNS
. . .
<s>
Under IN IN
that DT DT
standard NN NN
, , ,
which WDT WDT
garnered VBD VBD
the DT DT
votes NNS NNS
of IN IN
only RB RB
three CD CD
of IN IN
the DT DT
nine CD CD
justices NNS NNS
, , ,
a DT DT
state NN NN
restriction NN NN
of IN IN
abortion NN NN
is VBZ VBZ
constitutional JJ JJ
if IN IN
the DT DT
state NN NN
has VBZ VBZ
a DT DT
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'' '' ''
justification NN NN
for IN IN
adopting VBG VBG
it PRP PRP
. . .
<s>
That DT DT
is VBZ VBZ
a DT DT
much RB RB
easier JJR JJR
standard NN NN
for IN IN
a DT DT
state NN NN
to TO TO
satisfy VB VB
than IN IN
the DT DT
Supreme NNP NNP
Court NNP NNP
's POS POS
test NN NN
since IN IN
1973 CD CD
, , ,
which WDT WDT
requires VBZ VBZ
a DT DT
state NN NN
to TO TO
have VB VB
a DT DT
`` `` ``
compelling JJ JJ
'' '' ''
reason NN NN
for IN IN
restricting VBG VBG
abortion NN NN
. . .
<s>
On IN IN
the DT DT
provisions NNS NNS
of IN IN
the DT DT
Minnesota NNP NNP
law NN NN
, , ,
the DT DT
Bush NNP NNP
administration NN NN
said VBD VBD
that IN IN
requiring VBG VBG
that IN IN
both DT DT
parents NNS NNS
be VB VB
notified VBN VBN
is VBZ VBZ
a DT DT
reasonable JJ JJ
regulation NN NN
, , ,
and CC CC
that IN IN
there EX EX
is VBZ VBZ
no DT DT
need NN NN
to TO TO
have VB VB
an DT DT
alternative NN NN
that WDT WDT
allows VBZ VBZ
minors NNS NNS
to TO TO
go VB VB
to TO TO
court NN NN
for IN IN
a DT DT
judge NN NN
's POS POS
permission NN NN
instead RB RB
. . .
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The DT DT
case NN NN
, , ,
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vs. IN CC
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, , ,
will MD MD
be VB VB
argued VBN VBN
Nov. NNP NNP
29 CD CD
. . .
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Aluminum NNP NNP
Co. NNP NNP
of IN IN
America NNP NNP
, , ,
hit VBD VBD
hard RB RB
by IN IN
the DT DT
strength NN NN
of IN IN
the DT DT
dollar NN NN
overseas RB NN
, , ,
said VBD VBD
net JJ JJ
income NN NN
for IN IN
the DT DT
third JJ JJ
quarter NN NN
dropped VBD VBD
3.2 CD CD
% NN NN
to TO TO
$ $ $
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million CD CD
, , ,
or CC CC
$ $ $
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a DT DT
share NN NN
. . .
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nation NN NN
's POS POS
No. NN NN
1 CD CD
aluminum NN NN
maker NN NN
earned VBD VBD
$ $ $
226.3 CD CD
million CD CD
, , ,
or CC CC
$ $ $
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a DT DT
share NN NN
, , ,
a DT DT
year NN NN
earlier RBR RBR
. . .
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Revenue NN NN
rose VBD VBD
11 CD CD
% NN NN
to TO TO
$ $ $
2.83 CD CD
billion CD CD
from IN IN
$ $ $
2.56 CD CD
billion CD CD
. . .
<s>
Analysts NNS NNS
, , ,
who WP WP
were VBD VBD
expecting VBG VBG
Alcoa NNP NNP
to TO TO
post VB VB
around IN IN
$ $ $
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to TO TO
$ $ $
3 CD CD
a DT DT
share NN NN
, , ,
were VBD VBD
surprised VBN VBN
at IN IN
the DT DT
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third-quarter JJ NN
results NNS NNS
. . .
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's VBZ VBZ
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, , ,
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said VBD VBD
William NNP NNP
Siedenburg NNP NNP
, , ,
an DT DT
analyst NN NN
with IN IN
Smith NNP NNP
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, , ,
Harris NNP NNP
Upham NNP NNP
& CC CC
Co NNP NNP
. . .
<s>
Much JJ RB
of IN IN
the DT DT
earnings NNS NNS
decline NN NN
was VBD VBD
led VBN VBN
by IN IN
currency-exchange JJ JJ
rate NN NN
adjustments NNS NNS
, , ,
which WDT WDT
affected VBD VBD
the DT DT
bottom JJ NN
line NN NN
by IN IN
$ $ $
15.3 CD CD
million CD CD
, , ,
or CC CC
17 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
compared VBN VBN
with IN IN
$ $ $
3.6 CD CD
million CD CD
, , ,
or CC CC
four CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
the DT DT
previous JJ JJ
year NN NN
. . .
<s>
Lower JJR JJR
prices NNS NNS
for IN IN
aluminum NN NN
ingots NNS NNS
and CC CC
certain JJ JJ
alloy NN NN
products NNS NNS
and CC CC
a DT DT
shift NN NN
in IN IN
the DT DT
product NN NN
mix NN NN
also RB RB
contributed VBD VBD
to TO TO
lower JJR JJR
earnings NNS NNS
, , ,
the DT DT
company NN NN
said VBD VBD
. . .
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`` `` ``
In IN IN
addition NN NN
, , ,
costs NNS NNS
were VBD VBD
higher JJR JJR
partly RB RB
due JJ JJ
to TO TO
scheduled VBN VBN
plant NN NN
outages NNS NNS
for IN IN
modernization NN NN
work NN NN
, , ,
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the DT DT
company NN NN
said VBD VBD
. . .
<s>
Excluding VBG VBG
the DT DT
higher JJR JJR
tax NN NN
rate NN NN
, , ,
which WDT WDT
rose VBD VBD
two CD CD
percentage NN NN
points NNS NNS
to TO TO
38 CD CD
% NN NN
, , ,
and CC CC
the DT DT
negative JJ JJ
exchange NN NN
rate NN NN
adjustment NN NN
, , ,
the DT DT
company NN NN
would MD MD
have VB VB
met VBD VBN
analysts NNS NNS
' POS POS
expectations NNS NNS
, , ,
said VBD VBD
R. NNP NNP
Wayne NNP NNP
Atwell NNP NNP
, , ,
an DT DT
analyst NN NN
with IN IN
Goldman NNP NNP
, , ,
Sachs NNP NNP
& CC CC
Co NNP NNP
. . .
<s>
Noting VBG VBG
that IN IN
the DT DT
third JJ JJ
quarter NN NN
is VBZ VBZ
usually RB RB
the DT DT
aluminum NN NN
industry NN NN
's POS VBZ
slowest JJS JJS
, , ,
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Atwell NNP NNP
added VBD VBD
, , ,
`` `` ``
the DT DT
third JJ JJ
quarter NN NN
is VBZ VBZ
never RB RB
a DT DT
bang NN NN
up RP IN
period NN NN
for IN IN
them PRP PRP
anyway RB RB
. . .
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'' '' ''
Nevertheless RB RB
, , ,
the DT DT
company NN NN
said VBD VBD
shipments NNS NNS
were VBD VBD
up RB IN
slightly RB RB
to TO TO
679,000 CD CD
metric JJ JJ
tons NNS NNS
from IN IN
671,000 CD CD
, , ,
buffing VBG VBG
the DT DT
impact NN NN
of IN IN
the DT DT
unexpected JJ JJ
earning NN NN
decline NN NN
. . .
<s>
The DT DT
results NNS NNS
were VBD VBD
announced VBN VBN
after IN IN
the DT DT
stock NN NN
market NN NN
closed VBD VBD
. . .
<s>
In IN IN
New NNP NNP
York NNP NNP
Stock NNP NNP
Exchange NNP NNP
composite JJ JJ
trading NN NN
Friday NNP NNP
, , ,
Alcoa NNP NNP
closed VBD VBD
at IN IN
$ $ $
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a DT DT
share NN NN
, , ,
down RB IN
$ $ $
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, , ,
in IN IN
a DT DT
sharply RB RB
lower JJR JJR
market NN NN
. . .
<s>
For IN IN
20 CD CD
years NNS NNS
, , ,
federal JJ JJ
rules NNS NNS
have VBP VBP
barred VBN VBN
the DT DT
three CD CD
major JJ JJ
television NN NN
networks NNS NNS
from IN IN
sharing VBG VBG
in IN IN
one CD CD
of IN IN
the DT DT
most RBS RBS
lucrative JJ JJ
and CC CC
fastest-growing JJ JJ
parts NNS NNS
of IN IN
the DT DT
television NN NN
business NN NN
. . .
<s>
And CC CC
for IN IN
six CD CD
years NNS NNS
, , ,
NBC NNP NNP
, , ,
ABC NNP NNP
and CC CC
CBS NNP NNP
have VBP VBP
negotiated VBN VBN
with IN IN
Hollywood NNP NNP
studios NNS NNS
in IN IN
a DT DT
futile JJ JJ
attempt NN NN
to TO TO
change VB VB
that DT DT
. . .
<s>
But CC CC
with IN IN
foreign JJ JJ
companies NNS NNS
snapping VBG VBG
up RP RP
U.S. NNP NNP
movie NN NN
studios NNS NNS
, , ,
the DT DT
networks NNS NNS
are VBP VBP
pressing VBG VBG
their PRP$ PRP$
fight NN NN
harder RBR RBR
than IN IN
ever RB RB
. . .
<s>
They PRP PRP
hope VBP VBP
the DT DT
foreign JJ JJ
deals NNS NNS
will MD MD
divide VBP VB
the DT DT
Hollywood NNP NNP
opposition NN NN
and CC CC
prod VB VB
Congress NNP NNP
to TO TO
push VB VB
for IN IN
ending VBG VBG
federal JJ JJ
rules NNS NNS
that WDT WDT
prohibit VBP VBP
the DT DT
networks NNS NNS
from IN IN
grabbing VBG VBG
a DT DT
piece NN NN
of IN IN
rerun : NN
sales NNS NNS
and CC CC
owning VBG VBG
part NN NN
of IN IN
the DT DT
shows NNS NNS
they PRP PRP
put VBD VBP
on IN IN
the DT DT
air NN NN
. . .
<s>
Even RB RB
network NN NN
executives NNS NNS
, , ,
however RB RB
, , ,
admit VBP VBP
privately RB RB
that DT DT
victory NN NN
-- : :
either CC CC
in IN IN
Congress NNP NNP
or CC CC
in IN IN
talks NNS NNS
with IN IN
the DT DT
studios NNS NNS
-- : :
is VBZ VBZ
highly RB RB
doubtful JJ JJ
any DT DT
time NN NN
soon RB RB
. . .
<s>
And CC CC
so IN IN
the DT DT
networks NNS NNS
also RB RB
are VBP VBP
pushing VBG VBG
for IN IN
new JJ JJ
ways NNS NNS
to TO TO
sidestep VB VB
the DT DT
`` `` ``
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'' '' ''
provisions NNS NNS
, , ,
known VBN VBN
formally RB RB
as IN IN
the DT DT
Financial NNP NNP
Interest NNP NNP
and CC CC
Syndication NNP NNP
Rules NNPS NNPS
. . .
<s>
That DT DT
became VBD VBD
clear JJ JJ
last JJ JJ
week NN NN
with IN IN
the DT DT
disclosure NN NN
that IN IN
National NNP NNP
Broadcasting NNP NNP
Co. NNP NNP
, , ,
backed VBN VBN
by IN IN
the DT DT
deep JJ JJ
pockets NNS NNS
of IN IN
parent NN NN
General NNP NNP
Electric NNP NNP
Co. NNP NNP
, , ,
had VBD VBD
tried VBN VBN
to TO TO
help VB VB
fund VB NN
Qintex NNP NNP
Australia NNP NNP
Ltd. NNP NNP
's POS POS
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$ $ $
1.5 CD CD
billion CD CD
bid NN NN
for IN IN
MGM\/UA NNP NNP
Communications NNPS NNPS
Co NNP NNP
. . .
<s>
NBC NNP NNP
's POS POS
interest NN NN
may MD MD
revive VB VB
the DT DT
deal NN NN
, , ,
which WDT WDT
MGM\/UA NNP NNP
killed VBD VBD
last JJ JJ
week NN NN
when WRB WRB
the DT DT
Australian JJ JJ
concern NN NN
had VBD VBD
trouble NN NN
raising VBG VBG
cash NN NN
. . .
<s>
Even RB RB
if IN IN
that DT DT
deal NN NN
is VBZ VBZ
n't RB RB
revived VBN VBN
, , ,
NBC NNP NNP
hopes VBZ VBZ
to TO TO
find VB VB
another DT DT
. . .
<s>
`` `` ``
Our PRP$ PRP$
doors NNS NNS
are VBP VBP
open JJ JJ
, , ,
'' '' ''
an DT DT
NBC NNP NNP
spokesman NN NN
says VBZ VBZ
. . .
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NBC NNP NNP
may MD MD
yet RB RB
find VB VB
a DT DT
way NN NN
to TO TO
take VB VB
a DT DT
passive NN JJ
, , ,
minority NN NN
interest NN NN
in IN IN
a DT DT
program-maker NN NN
without IN IN
violating VBG VBG
the DT DT
rules NNS NNS
. . .
<s>
And CC CC
any DT DT
NBC NNP NNP
effort NN NN
could MD MD
prompt VB VB
CBS NNP NNP
Inc. NNP NNP
and CC CC
ABC NNP NNP
's POS POS
parent NN NN
, , ,
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Cities\/ABC NNP NNP
Inc. NNP NNP
, , ,
to TO TO
look VB VB
for IN IN
ways NNS NNS
of IN IN
skirting VBG VBG
the DT DT
fin-syn JJ JJ
regulations NNS NNS
. . .
<s>
But CC CC
the DT DT
networks NNS NNS
' POS POS
push NN NN
may MD MD
only RB RB
aggravate VB VB
an DT DT
increasingly RB RB
bitter JJ JJ
rift NN NN
between IN IN
them PRP PRP
and CC CC
Hollywood NNP NNP
studios NNS NNS
. . .
<s>
Both DT DT
sides NNS NNS
are VBP VBP
to TO TO
sit VB VB
down RP IN
next JJ JJ
month NN NN
for IN IN
yet RB RB
another DT DT
meeting NN NN
on IN IN
how WRB WRB
they PRP PRP
might MD MD
agree VB VB
on IN IN
reducing VBG VBG
fin-syn JJ JJ
restraints NNS NNS
. . .
<s>
Few JJ JJ
people NNS NNS
privy : JJ
to TO TO
the DT DT
talks NNS NNS
expect VBP VBP
the DT DT
studios NNS NNS
to TO TO
budge VB VB
. . .
<s>
The DT DT
networks NNS NNS
still RB RB
are VBP VBP
`` `` ``
uninhibited JJ JJ
in IN IN
their PRP$ PRP$
authority NN NN
'' '' ''
over IN IN
what WP WDT
shows VBZ NNS
get VB VBP
on IN IN
the DT DT
air NN NN
, , ,
charges VBZ VBZ
Motion NNP NNP
Picture NNP NNP
Association NNP NNP
President NNP NNP
Jack NNP NNP
Valenti NNP NNP
, , ,
the DT DT
most RBS RBS
vociferous JJ JJ
opponent NN NN
of IN IN
rescinding VBG VBG
the DT DT
rules NNS NNS
. . .
<s>
Studios NNPS NNS
are VBP VBP
`` `` ``
powerless JJ JJ
'' '' ''
to TO TO
get VB VB
shows NNS NNS
in IN IN
prime-time JJ JJ
lineups NNS NNS
and CC CC
keep VB VB
them PRP PRP
there EX RB
long RB JJ
enough RB RB
to TO TO
go VB VB
into IN IN
lucrative JJ JJ
rerun NN NN
sales NNS NNS
, , ,
he PRP PRP
contends VBZ VBZ
. . .
<s>
And CC CC
that DT DT
's VBZ VBZ
why WRB WRB
the DT DT
rules NNS NNS
, , ,
for IN IN
the DT DT
most JJS JJS
part NN NN
, , ,
must MD MD
stay VB VB
in IN IN
place NN NN
, , ,
he PRP PRP
says VBZ VBZ
. . .
<s>
Studio NNP NN
executives NNS NNS
in RP IN
on IN IN
the DT DT
talks NNS NNS
- : :
including VBG JJ
officials NNS NNS
at IN IN
Paramount NNP NNP
Communications NNP NNPS
Inc. NNP NNP
, , ,
Fries NNP NNP
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Inc. NNP NNP
, , ,
Warner NNP NNP
Communications NNPS NNPS
Inc. NNP NNP
and CC CC
MCA NNP NNP
Inc. NNP NNP
-- : :
declined VBD VBD
to TO TO
be VB VB
interviewed VBN VBN
. . .
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, , ,
who WP WP
represents VBZ VBZ
the DT DT
studios NNS NNS
, , ,
asserts VBZ VBZ
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The DT DT
whole JJ JJ
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, , ,
to TO TO
a DT DT
man NN NN
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is VBZ VBZ
on IN IN
the DT DT
side NN NN
of IN IN
preserving VBG VBG
'' '' ''
the DT DT
rules NNS NNS
. . .
<s>
Such JJ JJ
proclamations NNS NNS
leave VBP VBP
network NN NN
officials NNS NNS
all PDT PDT
the DT DT
more RBR RBR
doubtful JJ JJ
that IN IN
the DT DT
studios NNS NNS
will MD MD
bend VB VB
. . .
<s>
`` `` ``
They PRP PRP
do VBP VBP
n't RB RB
seem VB VB
to TO TO
have VB VB
an DT DT
incentive NN NN
to TO TO
negotiate VB VB
, , ,
'' '' ''
says VBZ VBZ
one CD CD
network NN NN
executive NN NN
. . .
<s>
`` `` ``
And CC CC
there EX EX
's VBZ VBZ
no DT DT
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that IN IN
Washington NNP NNP
is VBZ VBZ
prepared VBN VBN
to TO TO
address VB VB
the DT DT
rules NNS NNS
. . .
<s>
That DT DT
's VBZ VBZ
the DT DT
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is VBZ VBZ
n't RB RB
it PRP PRP
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it PRP PRP
is VBZ VBZ
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Congress NNP NNP
has VBZ VBZ
said VBN VBN
repeatedly RB RB
it PRP PRP
wants VBZ VBZ
no DT DT
part NN NN
of IN IN
the DT DT
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, , ,
urging VBG VBG
the DT DT
studios NNS NNS
and CC CC
the DT DT
networks NNS NNS
, , ,
which WDT WDT
license VBP VBP
rights NNS NNS
to TO TO
air NN NN
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made VBN VBN
by IN IN
the DT DT
studios NNS NNS
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to TO TO
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out RP RP
their PRP$ PRP$
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compromise NN NN
. . .
<s>
But CC CC
recent JJ JJ
developments NNS NNS
have VBP VBP
made VBN VBN
the DT DT
networks NNS NNS
-- : :
and CC CC
NBC NNP NNP
President NNP NNP
Robert NNP NNP
Wright NNP NNP
, , ,
in IN IN
particular JJ JJ
-- : :
ever RB RB
more RBR RBR
adamant JJ JJ
that IN IN
the DT DT
networks NNS NNS
must MD MD
be VB VB
unshackled JJ JJ
to TO TO
survive VB VB
. . .
<s>
The DT DT
latest JJS JJS
provocation NN NN
: : :
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Corp. NNP NNP
's POS POS
plan NN NN
to TO TO
acquire VB VB
Columbia NNP NNP
Pictures NNP NNPS
Entertainment NNP NNP
Inc. NNP NNP
for IN IN
$ $ $
3.4 CD CD
billion CD CD
, , ,
and CC CC
to TO TO
buy VB VB
independent JJ JJ
producer NN NN
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Peters NNP NNP
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for IN IN
$ $ $
200 CD CD
million CD CD
. . .
<s>
`` `` ``
I PRP PRP
wonder VBP VBP
what WP WP
Walter NNP NNP
Cronkite NNP NNP
will MD MD
think VB VB
of IN IN
the DT DT
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Broadcast NNP NNP
System NNP NNP
Trinitron NNP NNP
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News NNP NNP
with IN IN
Dan NNP NNP
Rather NNP NNP
broadcast VBD VBN
exclusively RB RB
from IN IN
Tokyo NNP NNP
, , ,
'' '' ''
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J.B. NNP NNP
Holston NNP NNP
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an DT DT
NBC NNP NNP
vice NN NN
president NN NN
, , ,
in IN IN
a DT DT
commentary NN NN
in IN IN
last JJ JJ
week NN NN
's POS POS
issue NN NN
of IN IN
Broadcasting NNP VBG
magazine NN NN
. . .
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In IN IN
his PRP$ PRP$
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, , ,
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Holston NNP NNP
, , ,
who WP WP
was VBD VBD
in IN IN
Europe NNP NNP
last JJ JJ
week NN NN
and CC CC
unavailable JJ JJ
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complained VBD VBD
that IN IN
the DT DT
`` `` ``
archaic JJ JJ
restraints NNS NNS
'' '' ''
in IN IN
fin-syn JJ JJ
rules NNS NNS
have VBP VBP
`` `` ``
contributed VBN VBN
directly RB RB
to TO TO
the DT DT
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of IN IN
the DT DT
studios NNS NNS
by IN IN
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. . .
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'' '' ''
( ( (
He PRP PRP
did VBD VBD
n't RB RB
mention VB VB
that IN IN
NBC NNP NNP
, , ,
in IN IN
the DT DT
meantime NN NN
, , ,
was VBD VBD
hoping VBG VBG
to TO TO
assist VB VB
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's POS POS
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in IN IN
buying VBG NN
An DT DT
NBC NNP NNP
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counters NNS NNS
that IN IN
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Holston NNP NNP
's POS POS
lament NN NN
was VBD VBD
`` `` ``
entirely RB RB
consistent JJ JJ
'' '' ''
with IN IN
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plans NNS NNS
because IN IN
the DT DT
U.S. NNP NNP
rules NNS NNS
would MD MD
limit VB VB
NBC NNP NNP
's POS POS
involvement NN NN
in IN IN
the DT DT
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deal NN NN
so RB RB
severely RB RB
as IN IN
to TO TO
be VB VB
`` `` ``
light JJ JJ
years NNS NNS
away RB RB
from IN IN
the DT DT
type NN NN
of IN IN
unrestrained JJ JJ
deals NNS NNS
available JJ JJ
to TO TO
Sony NNP NNP
-- : :
and CC CC
everyone NN NN
else RB RB
except IN IN
the DT DT
three CD CD
networks NNS NNS
. . .
<s>
'' '' ''
The DT DT
Big NNP NNP
Three NNP CD
's POS POS
drumbeat NN NN
for IN IN
deregulation NN NN
began VBD VBD
intensifying VBG VBG
in IN IN
the DT DT
summer NN NN
when WRB WRB
the DT DT
former JJ JJ
Time NNP NNP
Inc. NNP NNP
went VBD VBD
ahead RB RB
with IN IN
plans NNS NNS
to TO TO
acquire VB VB
Warner NNP NNP
. . .
<s>
Although IN IN
Time NNP NNP
already RB RB
had VBD VBD
a DT DT
long-term JJ JJ
contract NN NN
to TO TO
buy VB VB
movies NNS NNS
from IN IN
Warner NNP NNP
, , ,
the DT DT
merger NN NN
will MD MD
let VB VB
Time NNP NNP
's POS POS
largely RB RB
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channel NN NN
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Box NNP NNP
Office NNP NNP
, , ,
own VBP VB
the DT DT
Warner NNP NNP
movies NNS NNS
aired VBN VBN
on IN IN
HBO NNP NNP
-- : :
a DT DT
vertical JJ JJ
integration NN NN
that WDT WDT
is VBZ VBZ
effectively RB RB
blocked VBN VBN
by IN IN
fin-syn JJ JJ
regulations NNS NNS
. . .
<s>
NBC NNP NNP
's POS POS
Mr. NNP NNP
Wright NNP NNP
led VBD VBD
the DT DT
way NN NN
in IN IN
decrying VBG VBG
the DT DT
networks NNS NNS
' POS POS
inability NN NN
to TO TO
match VB VB
a DT DT
Time-Warner NNP NNP
combination NN NN
. . .
<s>
He PRP PRP
spoke VBD VBD
up RP RP
again RB RB
when WRB WRB
the DT DT
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bid NN NN
for IN IN
Columbia NNP NNP
was VBD VBD
announced VBN VBN
. . .
<s>
Since IN IN
NBC NNP NNP
's POS POS
interest NN NN
in IN IN
the DT DT
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bid NN NN
for IN IN
MGM\/UA NNP NNP
was VBD VBD
disclosed VBN VBN
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Mr. NNP NNP
Wright NNP NNP
has VBZ VBZ
n't RB RB
been VBN VBN
available JJ JJ
for IN IN
comment NN NN
. . .
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With IN IN
a DT DT
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deal NN NN
, , ,
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would MD MD
move VB VB
into IN IN
uncharted JJ JJ
territory NN NN
-- : :
possibly RB RB
raising VBG VBG
hackles NNS NNS
at IN IN
the DT DT
studios NNS NNS
and CC CC
in IN IN
Washington NNP NNP
. . .
<s>
`` `` ``
It PRP PRP
's VBZ VBZ
never RB RB
really RB RB
been VBN VBN
tested VBN VBN
, , ,
'' '' ''
says VBZ VBZ
William NNP NNP
Lilley NNP NNP
III NNP NNP
, , ,
who WP WP
as IN IN
a DT DT
top JJ JJ
CBS NNP NNP
executive NN NN
spent VBD VBD
years NNS NNS
lobbying VBG VBG
to TO TO
have VB VB
the DT DT
rules NNS NNS
lifted VBD VBN
. . .
<s>
He PRP PRP
now RB RB
runs VBZ VBZ
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in IN IN
Washington NNP NNP
, , ,
consulting VBG VBG
to TO TO
media NNS NNS
companies NNS NNS
. . .
<s>
Fin-syn JJ JJ
rules NNS NNS
do VBP VBP
n't RB RB
explicitly RB RB
block VB VB
a DT DT
network NN NN
from IN IN
buying VBG VBG
a DT DT
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, , ,
small JJ JJ
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in IN IN
a DT DT
company NN NN
that WDT IN
profits VBZ VBZ
from IN IN
the DT DT
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networks NNS NNS
ca MD MD
n't RB RB
enjoy VB VB
. . .
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might MD MD
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to TO TO
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say VB VB
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a DT DT
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% NN NN
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in IN IN
a DT DT
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such JJ JJ
as IN IN
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. . .
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If IN IN
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raised VBD VBD
objections NNS NNS
, , ,
the DT DT
studio NN NN
's POS POS
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operations NNS NNS
could MD MD
be VB VB
spun VBN VBN
off RP IN
into IN IN
a DT DT
separate JJ JJ
firm NN NN
in IN IN
which WDT WDT
the DT DT
network NN NN
does VBZ VBZ
n't RB RB
have VB VB
a DT DT
direct JJ JJ
stake NN NN
. . .
<s>
But CC CC
such JJ JJ
convolutions NNS NNS
would MD MD
still RB RB
block VB VB
the DT DT
networks NNS NNS
from IN IN
grabbing VBG VBG
a DT DT
big JJ JJ
chunk NN NN
of IN IN
the DT DT
riches NNS NN
of IN IN
syndication NN NN
. . .
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Under IN IN
current JJ JJ
rules NNS NNS
, , ,
even RB RB
when WRB WRB
a DT DT
network NN NN
fares NNS VBZ
well RB RB
with IN IN
a DT DT
100%-owned JJ JJ
series NN NN
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, , ,
for IN IN
example NN NN
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killing NN NN
in IN IN
broadcasting VBG VBG
its PRP$ PRP$
popular JJ JJ
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`` `` ``
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'' '' ''
-- : :
it PRP PRP
is VBZ VBZ
n't RB RB
allowed VBN VBN
to TO TO
share VB VB
in IN IN
the DT DT
continuing VBG VBG
proceeds NNS NNS
when WRB WRB
the DT DT
reruns NNS NNS
are VBP VBP
sold VBN VBN
to TO TO
local JJ JJ
stations NNS NNS
. . .
<s>
Instead RB RB
, , ,
ABC NNP NNP
will MD MD
have VB VB
to TO TO
sell VB VB
off RP RP
the DT DT
rights NNS NNS
for IN IN
a DT DT
one-time JJ JJ
fee NN NN
. . .
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The DT DT
networks NNS NNS
admit VBP VBP
that IN IN
the DT DT
chances NNS NNS
of IN IN
getting VBG VBG
the DT DT
relief NN NN
they PRP PRP
want VBP VBP
are VBP VBP
slim JJ JJ
-- : :
for IN IN
several JJ JJ
years NNS NNS
at IN IN
the DT DT
least JJS JJS
. . .
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Six CD CD
years NNS NNS
ago RB IN
they PRP PRP
were VBD VBD
tantalizingly RB RB
close JJ JJ
. . .
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The DT DT
Reagan-era NN NNP
Federal NNP NNP
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Commission NNP NNP
had VBD VBD
ruled VBN VBN
in IN IN
favor NN NN
of IN IN
killing VBG VBG
most JJS JJS
of IN IN
the DT DT
rules NNS NNS
. . .
<s>
Various JJ JJ
evidence NN NN
, , ,
including VBG VBG
a DT DT
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study NN NN
of IN IN
some DT DT
800 CD CD
series NN NN
that IN IN
the DT DT
networks NNS NNS
had VBD VBD
aired VBN VBN
and CC CC
had VBN VBD
partly RB RB
owned VBN VBN
in IN IN
the DT DT
1960s NNS CD
, , ,
showed VBD VBD
the DT DT
networks NNS NNS
did VBD VBD
n't RB RB
wield VB VB
undue JJ JJ
control NN NN
over IN IN
the DT DT
studios NNS NNS
as IN IN
had VBD VBD
been VBN VBN
alleged VBN VBN
. . .
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But CC CC
just RB RB
eight CD CD
days NNS NNS
before IN IN
the DT DT
rules NNS NNS
were VBD VBD
to TO TO
die VB VB
, , ,
former JJ JJ
President NNP NNP
Ronald NNP NNP
Reagan NNP NNP
, , ,
a DT DT
one-time JJ JJ
actor NN NN
, , ,
intervened VBN VBD
on IN IN
behalf NN NN
of IN IN
Hollywood NNP NNP
. . .
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The DT DT
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effort NN NN
collapsed VBD VBD
. . .
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The DT DT
networks NNS NNS
and CC CC
studios NNS NNS
have VBP VBP
bickered VBN VBN
ever RB RB
since IN IN
. . .
<s>
Network NNP NN
officials NNS NNS
involved VBN VBN
in IN IN
the DT DT
studio NN NN
talks NNS NNS
may MD MD
hope VB VB
the DT DT
foreign JJ JJ
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builds VBZ VBZ
more JJR JJR
support NN NN
in IN IN
Washington NNP NNP
, , ,
but CC CC
that DT DT
seems VBZ VBZ
unlikely JJ JJ
. . .
<s>
In IN IN
Congress NNP NNP
, , ,
the DT DT
issue NN NN
falters VBZ VBZ
: : :
It PRP PRP
's VBZ VBZ
about IN IN
money NN NN
, , ,
not RB RB
program NN NN
quality NN NN
, , ,
and CC CC
Hollywood NNP NNP
has VBZ VBZ
lots NNS NNS
of IN IN
clout NN NN
given VBN VBN
its PRP$ PRP$
fund NN NN
raising NN NN
for IN IN
senators NNS NNS
and CC CC
representatives NNS NNS
overseeing VBG VBG
the DT DT
issue NN NN
. . .
<s>
A DT DT
spokesman NN NN
for IN IN
Rep. NNP NNP
Edward NNP NNP
J. NNP NNP
Markey NNP NNP
( ( (
D-Mass. NNP NNP
) ) )
, , ,
who WP WP
heads VBZ VBZ
a DT DT
subcommittee NN NN
that WDT WDT
oversees VBZ VBZ
the DT DT
FCC NNP NNP
, , ,
says VBZ VBZ
Mr. NNP NNP
Markey NNP NNP
feels VBZ VBZ
`` `` ``
the DT DT
world NN NN
has VBZ VBZ
been VBN VBN
forever RB RB
changed VBN VBN
by IN IN
the DT DT
Sony-Columbia NNP NNP
deal NN NN
. . .
<s>
'' '' ''
But CC CC
he PRP PRP
said VBD VBD
Mr. NNP NNP
Markey NNP NNP
hopes VBZ VBZ
this DT DT
pushes VBZ VBZ
the DT DT
networks NNS NNS
and CC CC
studios NNS NNS
to TO TO
work VB VB
it PRP PRP
out RP RP
on IN IN
their PRP$ PRP$
own JJ JJ
. . .
<s>
And CC CC
at IN IN
the DT DT
FCC NNP NNP
, , ,
meanwhile RB RB
, , ,
new JJ JJ
Chairman NNP NNP
Alfred NNP NNP
C. NNP NNP
Sikes NNP NNP
has VBZ VBZ
said VBN VBN
he PRP PRP
wants VBZ VBZ
the DT DT
two CD CD
sides NNS NNS
to TO TO
hammer VB VB
out RP RP
their PRP$ PRP$
own JJ JJ
plan NN NN
. . .
<s>
Recognition NNP NNP
Equipment NNP NNP
Inc. NNP NNP
said VBD VBD
it PRP PRP
settled VBD VBD
a DT DT
civil JJ JJ
action NN NN
filed VBN VBN
against IN IN
it PRP PRP
by IN IN
the DT DT
federal JJ JJ
government NN NN
on IN IN
behalf NN NN
of IN IN
the DT DT
U.S. NNP NNP
Postal NNP NNP
Service NNP NNP
. . .
<s>
The DT DT
government NN NN
sued VBD VBD
the DT DT
company NN NN
in IN IN
April NNP NNP
, , ,
seeking VBG VBG
$ $ $
23,000 CD CD
and CC CC
other JJ JJ
unspecified JJ JJ
damages NNS NNS
related VBN VBN
to TO TO
an DT DT
alleged VBN JJ
contract-steering : JJ
scheme NN NN
. . .
<s>
The DT DT
suit NN NN
named VBD VBD
the DT DT
company NN NN
, , ,
former JJ JJ
chief JJ NN
executive NN NN
officer NN NN
William NNP NNP
G. NNP NNP
Moore NNP NNP
Jr. NNP NNP
, , ,
former JJ JJ
vice NN NN
president NN NN
Robert NNP NNP
W. NNP NNP
Reedy NNP NNP
and CC CC
five CD CD
defendants NNS NNS
who WP WP
were VBD VBD
n't RB RB
part NN NN
of IN IN
the DT DT
company NN NN
. . .
<s>
The DT DT
suit NN NN
charged VBD VBD
the DT DT
defendants NNS NNS
with IN IN
causing VBG VBG
Peter NNP NNP
E. NNP NNP
Voss NNP NNP
, , ,
an DT DT
ex-member NN NN
of IN IN
the DT DT
Postal NNP NNP
Service NNP NNP
board NN NN
of IN IN
governors NNS NNS
, , ,
to TO TO
accept VB VB
$ $ $
23,000 CD CD
in IN IN
bribes NNS NNS
, , ,
kickbacks NNS NNS
and CC CC
gratuities NNS NNS
. . .
<s>
Mr. NNP NNP
Voss NNP NNP
was VBD VBD
previously RB RB
sentenced VBN VBN
to TO TO
four CD CD
years NNS NNS
in IN IN
prison NN NN
and CC CC
fined VBN VBN
$ $ $
11,000 CD CD
for IN IN
his PRP$ PRP$
role NN NN
in IN IN
the DT DT
scheme NN NN
. . .
<s>
In IN IN
the DT DT
agreement NN NN
, , ,
Recognition NNP NN
agreed VBD VBD
to TO TO
pay VB VB
the DT DT
government NN NN
$ $ $
20,000 CD CD
in IN IN
return NN NN
for IN IN
the DT DT
release NN NN
of IN IN
all DT DT
claims NNS NNS
against IN IN
the DT DT
company NN NN
, , ,
Mr. NNP NNP
Moore NNP NNP
and CC CC
Mr. NNP NNP
Reedy NNP NNP
. . .
<s>
The DT DT
five CD CD
additional JJ JJ
defendants NNS NNS
were VBD VBD
n't RB RB
parties NNS NNS
to TO TO
the DT DT
settlement NN NN
. . .
<s>
A DT DT
trial NN NN
on IN IN
criminal JJ JJ
allegations NNS NNS
against IN IN
the DT DT
company NN NN
and CC CC
the DT DT
same JJ JJ
two CD CD
former JJ JJ
executives NNS NNS
began VBD VBD
Sept. NNP NNP
27 CD CD
in IN IN
federal JJ JJ
court NN NN
for IN IN
the DT DT
District NNP NNP
of IN IN
Columbia NNP NNP
. . .
<s>
They PRP PRP
were VBD VBD
indicted VBN VBN
last JJ JJ
October NNP NNP
on IN IN
charges NNS NNS
of IN IN
fraud NN NN
, , ,
theft NN NN
and CC CC
conspiracy NN NN
related VBN VBN
to TO TO
an DT DT
effort NN NN
to TO TO
win VB VB
$ $ $
400 CD CD
million CD CD
in IN IN
Postal NNP NNP
Service NNP NNP
equipment NN NN
contracts NNS NNS
by IN IN
the DT DT
maker NN NN
of IN IN
data NNS NNS
management NN NN
equipment NN NN
. . .
<s>
The DT DT
company NN NN
and CC CC
its PRP$ PRP$
executives NNS NNS
deny VBP VBP
the DT DT
charges NNS NNS
. . .
<s>
In IN IN
a DT DT
related JJ VBN
development NN NN
, , ,
Recognition NNP NNP
Equipment NNP NNP
said VBD VBD
the DT DT
Postal NNP NNP
Service NNP NNP
has VBZ VBZ
barred VBN VBN
the DT DT
company NN NN
from IN IN
bidding NN VBG
on IN IN
postal JJ JJ
contracts NNS NNS
for IN IN
an DT DT
additional JJ JJ
120 CD CD
days NNS NNS
. . .
<s>
The DT DT
Postal NNP NNP
Service NNP NNP
originally RB RB
suspended VBD VBD
the DT DT
company NN NN
Oct. NNP NNP
7 CD CD
, , ,
1988 CD CD
, , ,
and CC CC
has VBZ VBZ
been VBN VBN
renewing VBG VBG
the DT DT
ban NN NN
ever RB RB
since IN IN
. . .
<s>
The DT DT
company NN NN
said VBD VBD
it PRP PRP
will MD MD
continue VB VB
to TO TO
pursue VB VB
a DT DT
lifting NN NN
of IN IN
the DT DT
suspension NN NN
. . .
<s>
Intel NNP NNP
Corp. NNP NNP
reported VBD VBD
a DT DT
50 CD CD
% NN NN
drop NN NN
in IN IN
third-quarter JJ NN
net JJ NN
income NN NN
, , ,
partly RB RB
because IN IN
of IN IN
a DT DT
one-time JJ JJ
charge NN NN
for IN IN
discontinued VBN VBN
operations NNS NNS
. . .
<s>
The DT DT
big JJ JJ
semiconductor NN NN
and CC CC
computer NN NN
maker NN NN
, , ,
said VBD VBD
it PRP PRP
had VBD VBD
net NN NN
of IN IN
$ $ $
72 CD CD
million CD CD
, , ,
or CC CC
38 CD CD
cents NNS NNS
, , ,
down RB IN
50 CD CD
% NN NN
from IN IN
$ $ $
142.7 CD CD
million CD CD
, , ,
or CC CC
78 CD CD
cents NNS NNS
a DT DT
share NN NN
. . .
<s>
The DT DT
lower JJR JJR
net NN NN
included VBD VBD
a DT DT
charge NN NN
of IN IN
$ $ $
35 CD CD
million CD CD
, , ,
equal JJ JJ
to TO TO
12 CD CD
cents NNS NNS
a DT DT
share NN NN
on IN IN
an DT DT
after-tax JJ JJ
basis NN NN
, , ,
for IN IN
the DT DT
cost NN NN
of IN IN
abandoning VBG VBG
a DT DT
computer-systems NNS NNS
joint JJ NN
venture NN NN
with IN IN
Siemens NNP NNP
AG NNP NNP
of IN IN
West NNP NNP
Germany NNP NNP
. . .
<s>
Earning : NN
also RB RB
fell VBD VBD
from IN IN
the DT DT
year-ago JJ JJ
period NN NN
because IN IN
of IN IN
slowing VBG VBG
microchip NN NN
demand NN NN
. . .
<s>
Sales NNS NNS
amounted VBD VBD
to TO TO
$ $ $
771.4 CD CD
million CD CD
, , ,
down RB IN
1.7 CD CD
% NN NN
from IN IN
$ $ $
784.9 CD CD
million CD CD
. . .
<s>
Intel NNP NNP
's POS POS
stock NN NN
rose VBD VBD
in IN IN
early JJ JJ
over-the-counter JJ NN
trading NN NN
Friday NNP NNP
, , ,
as IN IN
investors NNS NNS
appeared VBD VBD
relieved VBN VBN
that IN IN
the DT DT
company NN NN
's POS POS
income NN NN
from IN IN
continuing VBG VBG
operations NNS NNS
was VBD VBD
only RB RB
slightly RB RB
below IN IN
the DT DT
second JJ JJ
quarter NN NN
's POS POS
earnings NNS NNS
of IN IN
$ $ $
99.3 CD CD
million CD CD
, , ,
or CC CC
53 CD CD
cents NNS NNS
a DT DT
share NN NN
, , ,
and CC CC
that IN IN
sales NNS NNS
actually RB RB
exceeded VBD VBD
the DT DT
$ $ $
747.3 CD CD
million CD CD
for IN IN
the DT DT
second JJ JJ
period NN NN
. . .
<s>
But CC CC
Intel NNP NNP
later RB RB
succumbed VBD VBD
to TO TO
the DT DT
stock NN NN
market NN NN
's POS POS
plunge NN NN
, , ,
closing VBG VBG
at IN IN
$ $ $
31.75 CD CD
, , ,
down RB IN
$ $ $
2.125 CD CD
. . .
<s>
In IN IN
August NNP NNP
, , ,
Intel NNP NNP
warned VBD VBD
that IN IN
third-quarter JJ NN
earnings NNS NNS
might MD MD
be VB VB
`` `` ``
flat JJ JJ
to TO TO
down RB JJ
'' '' ''
from IN IN
the DT DT
previous JJ JJ
period NN NN
's POS POS
because IN IN
of IN IN
slowing VBG VBG
sales NNS NNS
growth NN NN
of IN IN
its PRP$ PRP$
80386 CD CD
microprocessor NN NN
, , ,
start-up JJ JJ
costs NNS NNS
associated VBN VBN
with IN IN
a DT DT
line NN NN
of IN IN
computers NNS NNS
and CC CC
costs NNS NNS
of IN IN
preparing VBG VBG
for IN IN
mass JJ NN
shipments NNS NNS
of IN IN
the DT DT
company NN NN
's POS POS
new JJ JJ
80486 CD CD
chip NN NN
in IN IN
the DT DT
current JJ JJ
quarter NN NN
. . .
<s>
On IN IN
Friday NNP NNP
, , ,
Andrew NNP NNP
S.Grove NNP NNP
, , ,
Intel NNP NNP
president NN NN
and CC CC
chief JJ NN
executive NN NN
officer NN NN
, , ,
said VBD VBD
`` `` ``
Intel NNP NNP
's POS POS
business NN NN
is VBZ VBZ
strong JJ JJ
. . .
<s>
Our PRP$ PRP$
bookings NNS NNS
improved VBN VBD
as IN IN
the DT DT
quarter NN NN
progressed VBD VBD
and CC CC
September NNP NNP
was VBD VBD
especially RB RB
good JJ JJ
. . .
<s>
For IN IN
the DT DT
full JJ JJ
quarter NN NN
, , ,
our PRP$ PRP$
bookings NNS NNS
were VBD VBD
higher JJR JJR
than IN IN
the DT DT
previous JJ JJ
quarter NN NN
, , ,
and CC CC
our PRP$ PRP$
book-to-bill NN NN
ratio NN NN
exceeded VBD VBD
1.0 CD CD
. . .
<s>
'' '' ''
For IN IN
the DT DT
nine-month JJ JJ
period NN NN
, , ,
Intel NNP NNP
reported VBD VBD
net NN NN
of IN IN
$ $ $
268.3 CD CD
million CD CD
, , ,
or CC CC
$ $ $
1.43 CD CD
a DT DT
share NN NN
, , ,
down RB IN
27 CD CD
% NN NN
from IN IN
$ $ $
367.1 CD CD
million CD CD
, , ,
or CC CC
$ $ $
2.05 CD CD
a DT DT
share NN NN
. . .
<s>
Revenue NN NN
amounted VBD VBD
to TO TO
$ $ $
2.23 CD CD
billion CD CD
, , ,
up RB IN
slightly RB RB
from IN IN
$ $ $
2.15 CD CD
billion CD CD
. . .
<s>
Walter NNP NNP
Sisulu NNP NNP
and CC CC
the DT DT
African NNP NNP
National NNP NNP
Congress NNP NNP
came VBD VBD
home NN NN
yesterday NN NN
. . .
<s>
After IN IN
26 CD CD
years NNS NNS
in IN IN
prison NN NN
, , ,
Mr. NNP NNP
Sisulu NNP NNP
, , ,
the DT DT
77-year-old JJ JJ
former JJ JJ
secretary-general NN NN
of IN IN
the DT DT
liberation NN NN
movement NN NN
, , ,
was VBD VBD
dropped VBN VBN
off RP RP
at IN IN
his PRP$ PRP$
house NN NN
by IN IN
a DT DT
prison NN NN
services NNS NNS
' POS POS
van NNP NN
just RB RB
as IN IN
the DT DT
sun NN NN
was VBD VBD
coming VBG VBG
up RP IN
. . .
<s>
At IN IN
the DT DT
same JJ JJ
time NN NN
, , ,
six CD CD
ANC NNP NNP
colleagues NNS NNS
, , ,
five CD CD
of IN IN
whom WP WP
were VBD VBD
arrested VBN VBN
with IN IN
him PRP PRP
in IN IN
1963 CD CD
and CC CC
sentenced VBN VBN
to TO TO
life NN NN
imprisonment NN NN
, , ,
were VBD VBD
reunited VBN VBN
with IN IN
their PRP$ PRP$
families NNS NNS
at IN IN
various JJ JJ
places NNS NNS
around IN IN
the DT DT
country NN NN
. . .
<s>
And CC CC
as IN IN
the DT DT
graying VBG VBG
men NNS NNS
returned VBN VBD
to TO TO
their PRP$ PRP$
homes NNS NNS
, , ,
the DT DT
ANC NNP NNP
, , ,
outlawed VBN VBN
in IN IN
South NNP NNP
Africa NNP NNP
since IN IN
1960 CD CD
and CC CC
still RB RB
considered VBN VBN
to TO TO
be VB VB
the DT DT
chief JJ NN
public JJ JJ
enemy NN NN
by IN IN
the DT DT
white JJ JJ
government NN NN
, , ,
defiantly RB RB
returned VBD VBD
to TO TO
the DT DT
streets NNS NNS
of IN IN
the DT DT
country NN NN
's POS POS
black JJ JJ
townships NNS NNS
. . .
<s>
A DT DT
huge JJ JJ
ANC NNP NNP
flag NN NN
, , ,
with IN IN
black JJ JJ
, , ,
green JJ JJ
and CC CC
gold JJ JJ
stripes NNS NNS
, , ,
was VBD VBD
hoisted VBN VBN
over IN IN
the DT DT
rickety : JJ
gate NN NN
at IN IN
Mr. NNP NNP
Sisulu NNP NNP
's POS POS
modest JJ JJ
house NN NN
, , ,
while IN IN
on IN IN
the DT DT
street NN NN
out RP IN
front NN NN
, , ,
boys NNS NNS
displayed VBD VBD
the DT DT
ANC NNP NNP
colors NNS NNS
on IN IN
their PRP$ PRP$
shirts NNS NNS
, , ,
caps NNS NNS
and CC CC
scarves NNS NN
. . .
<s>
At IN IN
the DT DT
small JJ JJ
four-room : JJ
home NN NN
of IN IN
Elias NNP NNP
Motsoaledi NNP NNP
, , ,
a DT DT
leading VBG VBG
ANC NNP NNP
unionist NN NN
and CC CC
a DT DT
former JJ JJ
commander NN NN
in IN IN
the DT DT
group NN NN
's POS POS
armed JJ VBN
wing NN NN
, , ,
Umkhonto NNP NNP
we PRP PRP
Sizwe NNP NNP
, , ,
well-wishers NNS NNS
stuck VBD VBD
little JJ JJ
ANC NNP NNP
flags NNS NNS
in IN IN
their PRP$ PRP$
hair NN NN
and CC CC
a DT DT
man NN NN
tooted VBD VBD
on IN IN
an DT DT
antelope NNS NN
horn NN NN
wrapped VBN VBN
in IN IN
ANC NNP NNP
ribbons NNS NNS
. . .
<s>
`` `` ``
I PRP PRP
am VBP VBP
happy JJ JJ
to TO TO
see VB VB
the DT DT
spirit NN NN
of IN IN
the DT DT
people NNS NNS
, , ,
'' '' ''
said VBD VBD
Mr. NNP NNP
Sisulu NNP NNP
, , ,
looking VBG VBG
dapper NN JJ
in IN IN
a DT DT
new JJ JJ
gray JJ JJ
suit NN NN
. . .
<s>
As IN IN
the DT DT
crowd NN NN
outside IN IN
his PRP$ PRP$
home NN NN
shouted VBD VBD
`` `` ``
ANC NNP NNP
, , ,
ANC NNP NNP
, , ,
'' '' ''
the DT DT
old JJ JJ
man NN NN
shot VBD VBD
his PRP$ PRP$
fists NNS NNS
into IN IN
the DT DT
air NN NN
. . .
<s>
`` `` ``
I PRP PRP
'm VBP VBP
inspired VBN VBN
by IN IN
the DT DT
mood NN NN
of IN IN
the DT DT
people NNS NNS
. . .
<s>
'' '' ''
Under IN IN
the DT DT
laws NNS NNS
of IN IN
the DT DT
land NN NN
, , ,
the DT DT
ANC NNP NNP
remains VBZ VBZ
an DT DT
illegal JJ JJ
organization NN NN
, , ,
and CC CC
its PRP$ PRP$
headquarters NN NNS
are VBP VBP
still RB RB
in IN IN
Lusaka NNP NNP
, , ,
Zambia NNP NNP
. . .
<s>
But CC CC
the DT DT
unconditional JJ JJ
release NN NN
of IN IN
the DT DT
seven CD CD
leaders NNS NNS
, , ,
who WP WP
once RB RB
formed VBD VBD
the DT DT
intellectual JJ JJ
and CC CC
organizational JJ JJ
core NN NN
of IN IN
the DT DT
ANC NNP NNP
, , ,
is VBZ VBZ
a DT DT
de FW FW
facto FW FW
unbanning VBG NN
of IN IN
the DT DT
movement NN NN
and CC CC
the DT DT
rebirth NN NN
of IN IN
its PRP$ PRP$
internal JJ JJ
wing NN NN
. . .
<s>
`` `` ``
The DT DT
government NN NN
can MD MD
never RB RB
put VB VB
the DT DT
ANC NNP NNP
back RB NN
into IN IN
the DT DT
bottle NN NN
again RB RB
, , ,
'' '' ''
said VBD VBD
Cassim NNP NNP
Saloojee NNP NNP
, , ,
a DT DT
veteran JJ JJ
anti-apartheid JJ NN
activist NN NN
on IN IN
hand NN NN
to TO TO
welcome VB VB
Mr. NNP NNP
Sisulu NNP NNP
. . .
<s>
`` `` ``
Things NNS NNS
have VBP VBP
gone VBN VBN
too RB RB
far RB RB
for IN IN
the DT DT
government NN NN
to TO TO
stop VB VB
them PRP PRP
now RB RB
. . .
<s>
There EX EX
's VBZ VBZ
no DT DT
turning VBG VBG
back RB NN
. . .
<s>
'' '' ''
There EX EX
was VBD VBD
certainly RB RB
no DT RB
stopping VBG VBG
the DT DT
tide NN NN
of IN IN
ANC NNP NNP
emotion NN NN
last JJ JJ
night NN NN
, , ,
when WRB WRB
hundreds NNS NNS
of IN IN
people NNS NNS
jammed VBD VBD
into IN IN
the DT DT
Holy NNP NNP
Cross NNP NNP
Anglican NNP NNP
Church NNP NNP
in IN IN
Soweto NNP NNP
for IN IN
what WP WP
became VBD VBD
the DT DT
first JJ JJ
ANC NNP NNP
rally NN NN
in IN IN
the DT DT
country NN NN
in IN IN
30 CD CD
years NNS NNS
. . .
<s>
Deafening VBG VBG
chants NNS NNS
of IN IN
`` `` ``
ANC NNP NNP
'' '' ''
and CC CC
`` `` ``
Umkhonto : NNP
we PRP PRP
Sizwe : NNP
'' '' ''
shook VBD VBD
the DT DT
church NN NN
as IN IN
the DT DT
seven CD CD
aging VBG VBG
men NNS NNS
vowed VBD VBD
that IN IN
the DT DT
ANC NNP NNP
would MD MD
continue VB VB
its PRP$ PRP$
fight NN NN
against IN IN
the DT DT
government NN NN
and CC CC
the DT DT
policies NNS NNS
of IN IN
racial JJ JJ
segregation NN NN
on IN IN
all DT DT
fronts NNS NNS
, , ,
including VBG VBG
the DT DT
armed JJ VBN
struggle NN NN
. . .
<s>
And CC CC
they PRP PRP
called VBD VBD
on IN IN
the DT DT
government NN NN
to TO TO
release VB VB
Nelson NNP NNP
Mandela NNP NNP
, , ,
the DT DT
ANC NNP NNP
's POS POS
leading VBG VBG
figure NN NN
, , ,
who WP WP
was VBD VBD
jailed VBN VBN
with IN IN
them PRP PRP
and CC CC
remains VBZ VBZ
in IN IN
prison NN NN
. . .
<s>
Without IN IN
him PRP PRP
, , ,
said VBD VBD
Mr. NNP NNP
Sisulu NNP NNP
, , ,
the DT DT
freeing VBG NN
of IN IN
the DT DT
others NNS NNS
`` `` ``
is VBZ VBZ
only RB RB
a DT DT
half-measure NN NN
. . .
<s>
'' '' ''
President NNP NNP
F.W. NNP NNP
de IN NNP
Klerk NNP NNP
released VBD VBD
the DT DT
ANC NNP NNP
men NNS NNS
-- : :
along IN IN
with IN IN
one CD CD
of IN IN
the DT DT
founding VBG VBG
members NNS NNS
of IN IN
the DT DT
Pan NNP NNP
Africanist NNP NNP
Congress NNP NNP
, , ,
a DT DT
rival JJ JJ
liberation NN NN
group NN NN
-- : :
as IN IN
part NN NN
of IN IN
his PRP$ PRP$
efforts NNS NNS
to TO TO
create VB VB
a DT DT
climate NN NN
of IN IN
trust NN NN
and CC CC
peace NN NN
in IN IN
which WDT WDT
his PRP$ PRP$
government NN NN
can MD MD
begin VB VB
negotiations NNS NNS
with IN IN
black JJ JJ
leaders NNS NNS
over IN IN
a DT DT
new JJ JJ
constitution NN NN
aimed VBN VBN
at IN IN
giving VBG VBG
blacks NNS NNS
a DT DT
voice NN NN
in IN IN
national JJ JJ
government NN NN
. . .
<s>
But CC CC
Pretoria NNP NNP
may MD MD
instead RB RB
be VB VB
creating VBG VBG
a DT DT
climate NN NN
for IN IN
more JJR JJR
turmoil NN NN
and CC CC
uncertainty NN NN
in IN IN
this DT DT
racially RB RB
divided VBN VBN
country NN NN
. . .
<s>
As IN IN
other JJ JJ
repressive JJ JJ
governments NNS NNS
, , ,
particularly RB RB
Poland NNP NNP
and CC CC
the DT DT
Soviet NNP NNP
Union NNP NNP
, , ,
have VBP VBP
recently RB RB
discovered VBN VBN
, , ,
initial JJ JJ
steps NNS NNS
to TO TO
open VB VB
up RP RP
society NN NN
can MD MD
create VB VB
a DT DT
momentum NN NN
for IN IN
radical JJ JJ
change NN NN
that WDT WDT
becomes VBZ VBZ
difficult JJ JJ
, , ,
if IN IN
not RB RB
impossible JJ JJ
, , ,
to TO TO
control VB VB
. . .
<s>
As IN IN
the DT DT
days NNS NNS
go VBP VBP
by IN IN
, , ,
the DT DT
South JJ JJ
African JJ JJ
government NN NN
will MD MD
be VB VB
ever RB RB
more RBR RBR
hard JJ RB
pressed VBN VBN
to TO TO
justify VB VB
the DT DT
continued VBN VBN
imprisonment NN NN
of IN IN
Mr. NNP NNP
Mandela NNP NNP
as RB RB
well RB RB
as IN IN
the DT DT
continued VBN VBN
banning VBG NN
of IN IN
the DT DT
ANC NNP NNP
and CC CC
enforcement NN NN
of IN IN
the DT DT
state NN NN
of IN IN
emergency NN NN
. . .
<s>
If IN IN
it PRP PRP
does VBZ VBZ
n't RB RB
yield VB VB
on IN IN
these DT DT
matters NNS NNS
, , ,
and CC CC
eventually RB RB
begin VB VB
talking VBG VBG
directly RB RB
to TO TO
the DT DT
ANC NNP NNP
, , ,
the DT DT
expectations NNS NNS
and CC CC
promise NN NN
raised VBN VBN
by IN IN
yesterday NN NN
's POS POS
releases NNS NNS
will MD MD
turn VB VB
to TO TO
disillusionment NN NN
and CC CC
unrest NN NN
. . .
<s>
If IN IN
it PRP PRP
does VBZ VBZ
, , ,
the DT DT
large JJ JJ
number NN NN
of IN IN
right-wing JJ JJ
whites NNS NNS
, , ,
who WP WP
oppose VBP VBP
any DT DT
concessions NNS NNS
to TO TO
the DT DT
black JJ JJ
majority NN NN
, , ,
will MD MD
step VB VB
up RP RP
their PRP$ PRP$
agitation NN NN
and CC CC
threats NNS NNS
to TO TO
take VB VB
matters NNS NNS
into IN IN
their PRP$ PRP$
own JJ JJ
hands NNS NNS
. . .
<s>
The DT DT
newly RB RB
released VBN VBN
ANC NNP NNP
leaders NNS NNS
also RB RB
will MD MD
be VB VB
under IN IN
enormous JJ JJ
pressure NN NN
. . .
<s>
The DT DT
government NN NN
is VBZ VBZ
watching VBG VBG
closely RB RB
to TO TO
see VB VB
if IN IN
their PRP$ PRP$
presence NN NN
in IN IN
the DT DT
townships NNS NNS
leads VBZ VBZ
to TO TO
increased VBN VBN
anti-government JJ NN
protests NNS NNS
and CC CC
violence NN NN
; : :
if IN IN
it PRP PRP
does VBZ VBZ
, , ,
Pretoria NNP NNP
will MD MD
use VB VB
this DT DT
as IN IN
a DT DT
reason NN NN
to TO TO
keep VB VB
Mr. NNP NNP
Mandela NNP NNP
behind IN IN
bars NNS NNS
. . .
<s>
Pretoria NNP NNP
has VBZ VBZ
n't RB RB
forgotten VBN VBN
why WRB WRB
they PRP PRP
were VBD VBD
all DT DT
sentenced VBN VBN
to TO TO
life NN NN
imprisonment NN NN
in IN IN
the DT DT
first JJ JJ
place NN NN
: : :
for IN IN
sabotage NN NN
and CC CC
conspiracy NN NN
to TO TO
overthrow VB VB
the DT DT
government NN NN
. . .
<s>
In IN IN
addition NN NN
, , ,
the DT DT
government NN NN
is VBZ VBZ
figuring VBG VBG
that IN IN
the DT DT
releases NNS NNS
could MD MD
create VB VB
a DT DT
split NN NN
between IN IN
the DT DT
internal JJ JJ
and CC CC
external JJ JJ
wings NNS NNS
of IN IN
the DT DT
ANC NNP NNP
and CC CC
between IN IN
the DT DT
newly RB RB
freed VBN VBN
leaders NNS NNS
and CC CC
those DT DT
activists NNS NNS
who WP WP
have VBP VBP
emerged VBN VBN
as IN IN
leaders NNS NNS
inside IN IN
the DT DT
country NN NN
during IN IN
their PRP$ PRP$
imprisonment NN NN
. . .
<s>
In IN IN
order NN NN
to TO TO
head VB VB
off RP RP
any DT DT
divisions NNS NNS
, , ,
Mr. NNP NNP
Mandela NNP NNP
, , ,
in IN IN
a DT DT
meeting NN NN
with IN IN
his PRP$ PRP$
colleagues NNS NNS
before IN IN
they PRP PRP
were VBD VBD
released VBN VBN
, , ,
instructed VBD VBD
them PRP PRP
to TO TO
report VB VB
to TO TO
the DT DT
ANC NNP NNP
headquarters NN NN
in IN IN
Lusaka NNP NNP
as RB RB
soon RB RB
as IN IN
possible JJ JJ
. . .
<s>
The DT DT
men NNS NNS
also RB RB
will MD MD
be VB VB
faced VBN VBN
with IN IN
bridging VBG VBG
the DT DT
generation NN NN
gap NN NN
between IN IN
themselves PRP PRP
and CC CC
the DT DT
country NN NN
's POS POS
many JJ JJ
militant JJ JJ
black JJ JJ
youths NNS NNS
, , ,
the DT DT
so-called JJ JJ
young JJ JJ
lions NNS NNS
who WP WP
are VBP VBP
anxious JJ JJ
to TO TO
see VB VB
the DT DT
old JJ JJ
lions NNS NNS
in IN IN
action NN NN
. . .
<s>
Says VBZ VBZ
Peter NNP NNP
Mokaba NNP NNP
, , ,
president NN NN
of IN IN
the DT DT
South JJ NNP
African JJ NNP
Youth NNP NNP
Congress NNP NNP
: : :
`` `` ``
We PRP PRP
will MD MD
be VB VB
expecting VBG VBG
them PRP PRP
to TO TO
act VB VB
like IN IN
leaders NNS NNS
of IN IN
the DT DT
ANC NNP NNP
. . .
<s>
'' '' ''
They PRP PRP
never RB RB
considered VBD VBD
themselves PRP PRP
to TO TO
be VB VB
anything NN NN
else RB RB
. . .
<s>
At IN IN
last JJ JJ
night NN NN
's POS POS
rally NN NN
, , ,
they PRP PRP
called VBD VBD
on IN IN
their PRP$ PRP$
followers NNS NNS
to TO TO
be VB VB
firm NN JJ
, , ,
yet RB RB
disciplined VBN VBN
, , ,
in IN IN
their PRP$ PRP$
opposition NN NN
to TO TO
apartheid NN NN
. . .
<s>
`` `` ``
We PRP PRP
emphasize VB VBP
discipline NN NN
because IN IN
we PRP PRP
know VBP VBP
that IN IN
the DT DT
government NN NN
is VBZ VBZ
very RB RB
, , ,
very RB RB
sensitive JJ JJ
, , ,
'' '' ''
said VBD VBD
Andrew NNP NNP
Mlangeni NNP NNP
, , ,
another DT DT
early JJ JJ
Umkhonto NNP NNP
leader NN NN
who WP WP
is VBZ VBZ
now RB RB
63 CD CD
. . .
<s>
`` `` ``
We PRP PRP
want VBP VBP
to TO TO
see VB VB
Nelson NNP NNP
Mandela NNP NNP
and CC CC
all PDT PDT
our PRP$ PRP$
comrades NNS NNS
out IN IN
of IN IN
prison NN NN
, , ,
and CC CC
if IN IN
we PRP PRP
are VBP VBP
n't RB RB
disciplined VBN VBN
we PRP PRP
may MD MD
not RB RB
see VB VB
them PRP PRP
here RB RB
with IN IN
us PRP PRP
. . .
<s>
